ffsear's FX Trading - 15m

[ffsear]

Hi There.

I thought it was about time I started a journal, so here it goes. I work full time also as a claims broker in London, so I'll try and update as an when I can.
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Trading Style

I'll be trading Range breakouts on FX using a 15m chart. Once a breakout has been confirmed (15m bar thats closed outside the range) I'll be looking for a pullback of at least fib 23% before I enter a trade. I generally trade in the direction of the overall trend, again on the 15m chart. But will also counter trade if I see room for a big enough move.

My stop loss will always be set just above/below the previous high/low of the breakout move.

Cash/risk management

My account assumes £30,000 of which I risk 2% per trade (£600). This figues is used to set my position size for a max loss of £600.


I'll try and post charts where I can.

Regards

Charlie

 

[ffsear]

Current Open Trades

LONG, AUD-EUR £9 @ 1.9710 (17-03-2009)



RESULTS
results of closed trade will be posted here

TOTAL - 0

001 13-03-2009 - USD/CHF SELL £7 @ 1.1837 - CLOSED FOR +0

 

[ffsear]

USD/CHF

I've plotted a small barrier of support between 1.1831 and 1.1843, which was broken at 10.00-10.15 (15 m chart)today. Price since pulled back and I'm short at 1.1837, Stop loss 1.1922. I think there is plenty of room for downward movment here after thursdays massive gains.

 

[ffsear]

I have closed my 1st trade for nothing (BUY @ 1.1837) - After the breakout, it went nowhere, touched 1.1800 but then returned. Price action is giving me no reason to hold this overnight so I got out for nothing.

 

[ffsear]

14-03-2009

Good morning.


EUR-AUD has broken out of yesterdays trading range so I got in just after 9am on a pull back.

Buy £9 @ 1.9710. Stop Loss 1.9644