Simple Cable + Euro breakouts journal (no indicators)

[alexaherself]

Tuesday 10th June

Cable: high 1.56030, low 1.55210
Long entry 1.56055, TP 1.56265, TS 21 pips
Short entry 1.55185, TP 1.54975, TS 21 pips

Euro: high 1.32815, low 1.32318
Long entry 1.32840, TP 1.33020, TS 18 pips
Short entry 1.32293 TP 1.32113, TS 18 pips

 

[alexaherself]

Tuesday’s results

Cable: long 3.09p.m. (short entry cancelled), TP 3.20p.m., gaining 21 pips.

Euro: long 3.09p.m. (short entry cancelled), TP 3.19p.m., gaining 18 pips.


Cable
Today’s profit: 21 pips
Cumulative profit: 111.5 pips

Euro
Today's profit: 18 pips
Cumulative profit: 96.4 pips

Overall balance
Currently +207.9 pips

 

[kaya75]

Wahoo 200+ keep 'em rolling

 

[alexaherself]

Wednesday 11th June

Cable: high 1.56847, low 1.56434
Long entry 1.56872, TP 1.57082, TS 21 pips
Short entry 1.56409, TP 1.56199, TS 21 pips

Euro: high 1.33142, low 1.32681
Long entry 1.33167, TP 1.33347, TS 18 pips
Short entry 1.32656 TP 1.32476, TS 18 pips

 

[alexaherself]

Wedesday’s results

Cable: long 3.53p.m. (short entry cancelled), stopped out 6.06p.m. at 1.56792, losing 8 pips.

Euro: long 3.01p.m. (short entry cancelled), TP 3.47p.m., gaining 18 pips.


Cable
Today’s loss: 8 pips
Cumulative profit: 103.5 pips

Euro
Today's profit: 18 pips
Cumulative profit: 114.4 pips

Overall balance
Currently +217.9 pips

As sometimes happens with a "round number", Cable got to 1.5700(2), moving my stop-loss up with it, but couldn't go the extra 8 pips I needed, today. There's an argument for making something like 1.56985 the target, in such cases, and that would have made me about +13 pips on Cable rather than -8. Easily argued with hindsight, though. Fortunately the Euro obliged, anyway.

 

[Doomberg]

Great work Alexa, it's intresting to see more female traders

 

[alexaherself]

Thursday 11th June

The Cable chart doesn't look too appetising, today? :|

Cable: high 1.56886, low 1.56474
Long entry 1.56911, TP 1.57121, TS 21 pips
Short entry 1.56449, TP 1.56239, TS 21 pips

Euro: high 1.33262, low 1.32871
Long entry 1.33287, TP 1.33467, TS 18 pips
Short entry 1.32846 TP 1.32666, TS 18 pips

 

[alexaherself]

Thursday’s results

Cable: long 4.03p.m. (short entry cancelled), TP 4.08p.m., gaining 21 pips.

Euro: short 3.26p.m. (long entry cancelled), stopped out 3.44p.m. at 1.32966, losing 12 pips.


Cable
Today’s profit: 21 pips
Cumulative profit: 124.5 pips

Euro
Today's loss: 12 pips
Cumulative profit: 102.4 pips

Overall balance
Currently +226.9 pips

 

[alexaherself]

Friday 11th June

Cable: high 1.56778, low 1.56212
Long entry 1.56803, TP 1.57013, TS 21 pips
Short entry 1.56187, TP 1.55977, TS 21 pips

Euro: high 1.33298, low 1.32946
Long entry 1.33323, TP 1.33503, TS 18 pips
Short entry 1.32921 TP 1.32741, TS 18 pips

 

[alexaherself]

Friday’s results

Cable: long 3.36p.m. (short entry cancelled), TP 4.44p.m., gaining 21 pips.

Euro: long 3.04p.m. (short entry cancelled), TP 4.25p.m., gaining 18 pips.


Cable
Today’s profit: 21 pips
Cumulative profit: 145.5 pips

Euro
Today's profit: 18 pips
Cumulative profit: 120.4 pips

Overall balance
Currently +265.9 pips


And have a good weekend.

 

[alexaherself]

With many apologies to those who’ve so kindly expressed interest, here and by private message, and to anyone else watching, I’ve reluctantly decided not to continue the thread, at least for the moment. I was unsure whether to mention my specific reason, but have decided to be open and honest about it, partly to respect the requests of other members who feel exactly the same way.

At the moment I’m too frustrated by the forum’s idiosyncratic and inconsistently applied moderation policies to feel comfortable posting here at all - it‘s about as simple as that. This is simply a personal perspective, of course, albeit an apparently very widely held one.

I just hope it’s clear that I intend mentioning this to come across entirely benevolently rather than with any malice at all, to anyone. Good luck and good wishes to all.

 

[kaya75]

Head held high Alexa, roll on

Peace, pips and happiness

 

[romski]

was great while it lasted, why not setup your own blog?

 

[TechQuant]

For Cable and for the Euro, just before 3.00p.m., I’ll identify the high and the low between 1.00p.m. and 3.00p.m. (UK time: the first half of the daily period during which both London and New York are open), and enter (usually) limit orders at 3.00p.m., good for two hours only.

There was a Russian guy who was either a trader or an academic, whose first name may have been Igor or than may have been part of his surname who suggested that drawing two horizontal lines randomly on a chart could be used to provide a useful entry/exit trading system. By useful he demonstrated with considerable math that it would yield a profit. It never really took off as I presume it was considered a little too random for most, which is an irony all in its own class, but your system has an almost identical structure.

I appreciate your thread is dead now and I'll be honest in declaring I didn't read anything other than first few/last few posts, but did you find it a profitable strategy to use?

 

[alexaherself]

By useful he demonstrated with considerable math that it would yield a profit. It never really took off as I presume it was considered a little too random for most

It reminds me of one of the "random entry backtesting" stories I've read (I think it's in one of Tushar Chande's books but I may have that wrong), which the author uses as an illustration of how much more important stop-placements and exits can be than entries. As I remember, he was discussing buying/selling forward commodity contracts and using a trailing stop-loss of three times a moving average of the daily range (adjusted manually, daily). It was profitable.

your system has an almost identical structure.

I think the distinguishing feature of this one revolves around the significance of the time of day (levels of support and resistance during the overlapping hours when both London and New York are open, and their market violations both "meaning a lot more"). That was its original premise, anyway, which the results do seem to bear out (apparently it doesn't work profitably at other times of day).

I didn't read anything other than first few/last few posts

You missed nothing: it's "all the same".

did you find it a profitable strategy to use?

I did, and do (having now incorporated most of the ideas I suggested in the OP as potential improvements.) In 2014 it had 10 successful months and 2 (actually pretty minor) losing months. But I got off to a lucky start with it, as the month's results of +266 pips "proofed" in this thread turned out to be above average.

 

[TechQuant]

Having a simple, clear and unambiguous trading system where entry and exit are clear is a refreshing rarity. Making a profit from it is icing on the cake.

 

[dehot]

There is another version of this (which may have cropped up already in the middle of your thread) where you wait for a significant break, then a pullback, then place a stop order at the high/low and a stop loss at the low/high of the pullback. If you get filled, you usually get an input of volume enough to take at least 20 pips or so and often with a tighter stop. You can move to break even pretty quickly as the volume gets you clear and if you don't get filled, it's a pretty good indication that the move isn't there.

 

[alexaherself]

There is another version of this (which may have cropped up already in the middle of your thread) where you wait for a significant break, then a pullback, then place a stop order

Indeed so.

(But as explained in this thread's first post, the purpose of this experiment was to determine whether it could be done on a "set and forget" basis without needing to wait for those eventualities.)

 

[dehot]

Well, I don't see that, but yes they are pretty infrequent... and too early in the UK!

 

[alexaherself]

Well, I don't see that

It's explained in very first post in the thread: the method described involves entering buy/sell-stop orders at 3.00pm on the basis of the state of the Cable and EUR/USD markets between 1.00pm and 3.00pm.