Thats me done for the week. Another good one and im still not over-trading which is something I thought I may have been prone to. Hope this continues
Im almost certianly going to be profitable for this second month now, ( currently +18%) so it just remains to make a profit in the third and I can move to an account of meaningful size!
Week 6 Summary
Total P/L (% account) +7.52%
Account start balance £1000
Week start balance £1202.95
End balance £1293.45
Total trades 2
Winning trades 2
Losing trades 0
Break even trades 0
Av winner 3.751%
Av loser n/a
Im almost certianly going to be profitable for this second month now, ( currently +18%) so it just remains to make a profit in the third and I can move to an account of meaningful size!
Week 6 Summary
Total P/L (% account) +7.52%
Account start balance £1000
Week start balance £1202.95
End balance £1293.45
Total trades 2
Winning trades 2
Losing trades 0
Break even trades 0
Av winner 3.751%
Av loser n/a
Looking at the charts this is the best of what I see. Haven't decided if I wil trade any yet.
USD/CAD 4hr. Very nice bearish engulfing through support/ BRN. Only taking a trade after price retraces to the BRN and we see resistance. After the recent lows price will move into plenty of space.
EUR/CAD 4hr. 3 touches of a t/l. The third with support and BRN confluence. I don't know if this t/l will break or we see a bounce. Might be a trade here.
AUD/NZD 4hr. Pin bar off of PPZ and BRN. The low has hit the 38 fib retracement to the pip. Long term trend is up. Could well just be profit taking so I will pass I think.
EUR/GBP. Looking to see if the 4hr can break this t/l. On the daily there is a bearish engulfing, and on the weekly a small-med pin bar off a PPZ. Moving down into a right mess though. Probably a pass.
EUR/JPY. We are right at a BRN. Looking for either a short or long. Decent space for a short. Lots of space above recent highs if long.
USD/CAD 4hr. Very nice bearish engulfing through support/ BRN. Only taking a trade after price retraces to the BRN and we see resistance. After the recent lows price will move into plenty of space.
EUR/CAD 4hr. 3 touches of a t/l. The third with support and BRN confluence. I don't know if this t/l will break or we see a bounce. Might be a trade here.
AUD/NZD 4hr. Pin bar off of PPZ and BRN. The low has hit the 38 fib retracement to the pip. Long term trend is up. Could well just be profit taking so I will pass I think.
EUR/GBP. Looking to see if the 4hr can break this t/l. On the daily there is a bearish engulfing, and on the weekly a small-med pin bar off a PPZ. Moving down into a right mess though. Probably a pass.
EUR/JPY. We are right at a BRN. Looking for either a short or long. Decent space for a short. Lots of space above recent highs if long.
Last edited:
A little confession.
I got in on this big Silver move, with a position size that was waaaay too big, but it paid off
Made a total of £2889 across two accounts. One of which was laying dormant. The account which I actively use for this journal made £937.
Im not going to include this trade in my stats because its a freak and I broke all the rules, but thought it might be interesting to show it.
Top red line is where I entered the first trade( Edit- actually it was a little higher). The lower is my final exit. Profit shown at the bottom. I opened and closed three trades during the move just through shear panic tbh
I got in on this big Silver move, with a position size that was waaaay too big, but it paid off
Made a total of £2889 across two accounts. One of which was laying dormant. The account which I actively use for this journal made £937.
Im not going to include this trade in my stats because its a freak and I broke all the rules, but thought it might be interesting to show it.
Top red line is where I entered the first trade( Edit- actually it was a little higher). The lower is my final exit. Profit shown at the bottom. I opened and closed three trades during the move just through shear panic tbh
Attachments
Last edited:
Didn't take any Fx trades today, although I missed what I thought were decent openings on two EUR pairs.
Both the EUR/CAD and EUR/GBP had price which respected their upwardly sloping trendlines on the 4hr and had PPZ confluence. The EUR/CAD would have been a better trade imo. Less traffic nearby to interrupt movement.
Both the EUR/CAD and EUR/GBP had price which respected their upwardly sloping trendlines on the 4hr and had PPZ confluence. The EUR/CAD would have been a better trade imo. Less traffic nearby to interrupt movement.
Attachments
Just looks like consolidation on my 4hr charts. I wouldn't like to call a top on any pair, especially if it means going long the USD.I think I would only short either of those after a move down, and then a failed move up again.
There is something amusing about watching the USD, EUR and GBP battle it out with each other in the race to the bottom. It is the same with all Fiat currencies but these are the worst of a bad bunch
Just looks like consolidation on my 4hr charts. I wouldn't like to call a top on any pair, especially if it means going long the USD.I think I would only short either of those after a move down, and then a failed move up again.
There is something amusing about watching the USD, EUR and GBP battle it out with each other in the race to the bottom. It is the same with all Fiat currencies but these are the worst of a bad bunch
I agree. I'm not happy with the short sides because I do think gbp/usd is in a very strong bull and on her way beyond 1.7 areas so I will wait until the bulls are back for a pull back (back through the tunnell)? I hope you don't mind my putting the attached docs in your thread, but I have dug up some other info of the vegas tunnel which I believe will help other people like myself stay safe and out of the chop/consolidation periods, there is also a very handy indicator over at ff for the vegas tunnel under dialist, whoever this vegas guy really is he does give some useful tips in the attached documents, also found a canny match with Norman Hallett!!
I must say, you trade very well. Keep it up, nice one on the metal, ha ha.
Attachments
It looks like the USD has indeed began to show strength
I wonder if it could go into reverse though if the UK manufacturing data is good? Looking at the graph if it does move down strongly, there is support at RN's 1.65 and 1.64. If I can confirm a change of trend, then I will be open to going short too.
That Vegas stuff if very good, I studied alot of material from Diallist. People should definately check it out.
I wonder if it could go into reverse though if the UK manufacturing data is good? Looking at the graph if it does move down strongly, there is support at RN's 1.65 and 1.64. If I can confirm a change of trend, then I will be open to going short too.
That Vegas stuff if very good, I studied alot of material from Diallist. People should definately check it out.
Last edited:
Sorry 4fot the chart. I think trendlines are good breakout signals on any timeframe for an entry signal either way, I love them.
Attachments
I was having a crappy day yesterday, so it should come as no surprise that I took a crappy trade which although it had some merit, normally I would pass on.
AUD/JPY 4hr.
Almost a pin bar (didn't close within previous). Long tail off the 150 ma, and bar of a decent size in relation to others. In an uptrend, my thinking was that this pin bar was forming a higher low as part of it.
Took a break of the pin, got as far as 36 pips in my favour at which point my stop was at b/e, I didn't want to be in the trade if it then retraced all that way. It did and I was stopped out . I did want to cancel it right after I put it on, but decided to gamble such was my mood The pin was in no man's land amongst alot of traffic and there was little confluence and so didn't have a high probability of success imo. Its no surprise that a few bars later price was right at the PPZ immediately below my pin bar.
Back to being disciplined
AUD/JPY 4hr.
Almost a pin bar (didn't close within previous). Long tail off the 150 ma, and bar of a decent size in relation to others. In an uptrend, my thinking was that this pin bar was forming a higher low as part of it.
Took a break of the pin, got as far as 36 pips in my favour at which point my stop was at b/e, I didn't want to be in the trade if it then retraced all that way. It did and I was stopped out . I did want to cancel it right after I put it on, but decided to gamble such was my mood
The pin was in no man's land amongst alot of traffic and there was little confluence and so didn't have a high probability of success imo. Its no surprise that a few bars later price was right at the PPZ immediately below my pin bar.Back to being disciplined
