Intraday Trading Journal

[SH-101]

1534 Short XAUUSD 1290.26

Another re-entry as lower highs develop following a retrace, which in turn followed a break below 1290 and the main pivot.

Checked very hard to make sure this was not a revenge trade, it's not, ticks all the boxes for me.

 

[SH-101]

1534 Short XAUUSD 1290.26

Exited the trade -1.9 as it didn't in fact tick all the boxes. I made a mistake and as soon as I realised I bailed.

That's definitely me done for the day. Time for a coffee then a nice long walk

 

[SH-101]

Quick summary of the day:

0821 EURAUD S1.59457 +11.6
1107 DE30 S10895.4 -70.5
1534 XAUUSD S1290.29 -1.9

Day total -60.8

 

[sideways-sid]

...If it continues higher this will be my worst result on an individual trade since 30th November which I suppose I had to expect on day one of my journal!

Coincidentally I had a poor week right after starting my journal here in October, but my trading recovered to closely mirror longer-run historical performance.

If you have a strong strategy that you fully understand, have exhaustively backtested under a range of scenarios, and have a disciplined approach to risk management, today will just be an unfortunate statistical anomaly.

 

[SH-101]

@sideways-sid Thanks for your reply.

I have full confidence in my methodology so yes, today is just one of those days unfortunately! It's my first down day of 2019 (didn't start until the 7th), and generally I do have 3-4 each month.

Today's results amount to only a 1.2% loss so nothing to lose any sleep over. Back tomorrow to fight another day

 

[SH-101]

0828 Short DE30 10937.1

 

[SH-101]

0828 Short DE30 10937.1

Reversal pattern from the high down through 10975 / 10950 / R2.

 

[SH-101]

0828 Short DE30 10937.1

0935 Target hit +51.3 (aimed for 50, a bit of positive slippage).

 

[SH-101]

0935 Target hit +51.3 (aimed for 50, a bit of positive slippage).

0905 not 0935!

 

[SH-101]

0915 Short EURJPY 12414.6

 

[SH-101]

0915 Short EURJPY 12414.6

Breakout of the early range down through 12450 / 12425.

 

[SH-101]

Breakout of the early range down through 12450 / 12425.

Exit 0925 +1.1 - The market had already come down quite far off the high so I wanted to see instant momentum through the pivot / 12400 which didn't happen.

 

[SH-101]

Given all the Brexitiness I am definitely erring on the side of caution today.

 

[SH-101]

EURJPY takes out what would have been my +50 target at 12364.6. Any other day I'd have held that trade, but I stand by the decision to exit early as last time there was a big Brexit event risk day (the no-confidence vote on 12 Dec) I got caught badly.

 

[SH-101]

I'd have sold UKOIL had it closed under the pivot at 5960.3 - but it didn't.

The 6025 / R1 (6019.7) / 6000 confluence would be a nice area to trade a reversal subject to the right setup but there's little else on the horizon at the moment.

 

[SH-101]

Draghi up at 3pm.

 

[SH-101]

The 6025 / R1 (6019.7) / 6000 confluence would be a nice area to trade a reversal subject to the right setup but there's little else on the horizon at the moment.

Plan remains to sell below 6000, but may not happen before I clock off for the day. XAUUSD a possible sell below 1290 as well.

 

[SH-101]

4pm so calling it a day. In summary today:

0828 Short DE30 10937.1 +51.3
0915 Short EURJPY 12414.6 +1.1

Day total +52.4
Week total -8.4
Journal total -8.4

 

[SH-101]

I note that XAUUSD has just gone under 1290 but a bit too late for me.

 

[SH-101]

T2W was down this morning but I didn't trade due to the Carney/BoE hearing. I generally ignore economic calendar events but for anything central bank related I make an exception (also NFP, and oil inventories for oil trades only).

This meant I passed on three trades this morning which would all now be in profit, but one trading adage that I live by is that it's better to miss a winner than trade a loser.