A day on the charts

kaya75

Active member
118 16
Hello all,

Seeing as I'm hanging around doing all the taking thought I'd set up a journal, and do some giving.

So I thought how to tackle this, I want a straightforward journal, but depending on conditions my trading changes..

So for the sake of clarity, this journal will follow one aspect on my trading, the London open. Essentially its a breakout strategy as outlined by Claudia in USD/GBP Breakout thread.

Method of entry, Orders

Profit target 20 pips

My stop will be 20 pips

So some ground.. the following will be the focus of this journal.

Usdgbp
Usdeur

Analysis: Asian range hi/lo, previous days range, previous days hi/lo.
Fundamentals; holidays, news, day of week.

At the end of week short analysis on ratios and trades.

I really use this method as a early morning 20 pip scalp, the key I find is not when to trade its when not to...

As background, it look for strong ducks / breakouts using pullbacks and fibs. Although the London open underpins each and everyday, if I take 20 and there is no strong setups for taking a potion of the ADR, I'll walk away for the day happy with 20pips, if there are strong setups looming ill look for later entries. If I lose the London open I'll take the day off, If I don't trade the open I will look for strong entries on pullbacks, using the 3 Ducks as a strong TA indicator.

This journal will only cover the London Open

Hope that makes sense, please ask for clarification if not.

Also any comments welcome

Peace and pips :devilish:

P.s I'm going to do this for 100 trades, see if I can actually keep a journal... :)
 
Last edited:

kaya75

Active member
118 16
BANK Holiday = no trades

(Also, this will be called from my phone sometimes, charts will be updated once on workstation)

# 000
Times @ GMT
00:00
Pair: Cable ¦ Fiber
Order: Long ¦ Short
Filled: 00:00
Entry: 0.00000
TP: 0.00000
SL: 0.00000
EP: 0.00000
Exit: 00:00
Pips: 0

PIP COUNT: 0

Comment:
So as I don't trade on holidays, I thought I'd lay the templete out, any additional suggestions? Happy spring!


Ratios:

W/L: 0/0
Average R/R: 0:0
P/L: 0%
Peace and pips
 
Last edited:

alexaherself

Established member
560 149
Following with interest and wishing you well with it.

(I also decided not to trade, today: no point in recording "trades" for a system that's based, in my case, on both NY and London being open at the same time, when London wasn't. And all the more so, in your case).

Good luck! :)
 

kaya75

Active member
118 16
Time 11:15 - all orders cancelled.

Both pairs have just ranged out of London open, I'm not surprised, its one reason my orders where wide. Considering the drop on the Asian open, both pairs look to be consolidating into NY open :)

Peace and pips
 

kaya75

Active member
118 16
Hi All,

No trades today - err - i overslept - well turned over at 6:30 and when i actually got my lazy **** out of bed at 7:30 I'd missed the break at 7ish - they'll teach me to assume nothing will move 'till 8! - not to worry - bring on tomorrow.

Peace and Pips :)
 

Babyblush

Active member
132 4
20 pips target is quite a reasonable one and if you have got the good entry level during the market opening then all chances to hit the trade with take profit within few hours.
 

kaya75

Active member
118 16
# 001
Times @ GMT
06:55
Pair: Fiber
Order: Long
Filled: 07:17
Entry: 1.29840
TP: 1.30040
SL: 1.29640

Exit: 07:42
Pips: -20

PIP COUNT: -20


Comment:
This was a legit order - but i should have taken notice of the 6:35 wick - i went in just above the 6:40 wick.

No worries though, it was quiet break at 0:6:15 so maybe i should have stayed out.


Ratios:

W/L: 0/1
Average R/R: 1:1
P/L: -100%
Peace and pips

Happy Thursday :)
 
Last edited:

kaya75

Active member
118 16
GBP Long Order triggered

10:42
@ 1.518720
 

kaya75

Active member
118 16
.# 002
Times @ GMT
06:55
Pair: Cable
Order: Long
Filled: 10:42
Entry: 1.51872
TP: 1.52072
SL: 1.51672

Exit: 11:00
Pips: -20

PIP COUNT: -40


Comment:
This order was late in the day - especially with NY news. Also you may notice the 1.52000 number coming up.

Carry on :)

Ratios:

W/L: 0/2
Average R/R: 1:1
P/L: -100%
Peace and pips

Happy Thursday
 
Last edited:

kaya75

Active member
118 16
Yes indeed: have been wondering whether that might break, this afternoon, or whether it'll be a real resistance. We saw 1.51984 earlier this morning ... :|

Sweet, the afternoon break was a good call, the 1.52 went at about 18:00 last night, it's still pretty choppy out there, but we'll see what today brings.

Happy Friday! (y)
 

kaya75

Active member
118 16
# 003
Times @ GMT
7:50
Pair: Cable
Order: Short
Filled: 8:03
Entry: 1.521250
TP: 1.519250
SL: 1.523250

Exit: 09:35
Pips: 20

PIP COUNT: -20


Comment:
This moved back to the Asian low before moving down again, one thing I like about setting up orders and leaving them to run is I don't have to fight the fear of watching the retrace.. if I'm in the trade I should have the confidence to stay there, but as we all know its a different story when the wave turns and we seem certain that we are left smack in the impact zone.

Ratios:

W/L: 1/2
Average R/R: 1:1
P/L: -66%
Peace and pips

Happy Friday
 
 
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