Simple journal

[Andy4444]

Hello,

I've been trading a simple approach for 2 or 3 months on demo, with pretty fair results.

There's nothing special other than pa with standard bollinger and 20 ema which give me some bias and I usually trade the h4 and daily with it.

I plan to trade this approach for the next couple of months and I'll post ongoing results with a chart here and there, mainly for my benefit more than anything else as a record keeping exercise to further check it's validity before I go live with it.

 

[Andy4444]

Here's a trade on GA I have taken which shows the simple approach

http://www.trade2win.com/boards/attachment.php?attachmentid=206464&stc=1&d=1447937424

 

[alexaherself]

Welcome to the forum, Andy - looking forward to seeing your Journal.

(When you say "standard Bollinger", I'm guessing you're referring to "14/2" rather than "20/2", because the midline of "20/2" BB's would be almost the same as the EMA-20? I can't quite see, from your chart).

 

[Andy4444]

Welcome to the forum, Andy - looking forward to seeing your Journal.

(When you say "standard Bollinger", I'm guessing you're referring to "14/2" rather than "20/2", because the midline of "20/2" BB's would be almost the same as the EMA-20? I can't quite see, from your chart).

Yeah I'm aware of the similarity, and actually that difference/edge is part of the reason I prefer the ema as opposed to the bollinger c/l

 

[Forexmospherian]

Here's a trade on GA I have taken which shows the simple approach

http://www.trade2win.com/boards/attachment.php?attachmentid=206464&stc=1&d=1447937424

WD Andy - you got a great entry and up over 50+ pips already

I see problems at 1350 to 70 - but wish you all the best and really do hope the simple approach works well for you

GL with the Journal

Regards

F

 

[Andy4444]

WD Andy - you got a great entry and up over 50+ pips already

I see problems at 1350 to 70 - but wish you all the best and really do hope the simple approach works well for you

GL with the Journal

Regards

F

Tks, it's one of a number of trades I' currently have on the go at present, here's UCHF using my same approach. I always have 3 orders btw, and that gives more mm flexibility. I have already taken profit from this one on 1 position and have adjusted stops on the remainder to mitigate risk a bit further now.

http://www.trade2win.com/boards/attachment.php?attachmentid=206468&stc=1&d=1447939688

 

[Andy4444]

Tks, it's one of a number of trades I' currently have on the go at present, here's UCHF using my same approach. I always have 3 orders btw, and that gives more mm flexibility. I have already taken profit from this one on 1 position and have adjusted stops on the remainder to mitigate risk a bit further now.

http://www.trade2win.com/boards/attachment.php?attachmentid=206468&stc=1&d=1447939688

AU this time, first tp close now

http://www.trade2win.com/boards/attachment.php?attachmentid=206470&stc=1&d=1447940836

 

[timsk]

. . . with a chart here and there, mainly for my benefit more than anything else as a record keeping exercise to further check it's validity before I go live with it.

Hi Andy,
Well done starting a journal - good luck with it. It's great to see someone using a line chart - that's quite rare these days!
Tim.

 

[Andy4444]

AU this time, first tp close now

http://www.trade2win.com/boards/attachment.php?attachmentid=206470&stc=1&d=1447940836

Another, this one hasn't flown off the bat, but plenty of time to get it's act together

http://www.trade2win.com/boards/attachment.php?attachmentid=206478&stc=1&d=1447942455

 

[Andy4444]

Hi Andy,
Well done starting a journal - good luck with it. It's great to see someone using a line chart - that's quite rare these days!
Tim.

Hi

Yeah...I've used line charts for years now, and imo are superior to candles etc. The charts posted show my basic line chart configuration, but I use lines in other ways also, but this journal is only focussing on this strategy for now which involves only what i have on the chart as seen. I may at some point go further with other strategies I use on my live accounts, but for now this set up is what matters for this particular journal.

 

[timsk]

Fair play Andy. Any info' you'd care to share about what you're looking for in terms of setup, entry and exit criteria etc. would be very welcome.
Tim.

 

[Andy4444]

Fair play Andy. Any info' you'd care to share about what you're looking for in terms of setup, entry and exit criteria etc. would be very welcome.
Tim.

PA is the main thing for me with any strategy I apply. I look for patterns that often enough give me a clue where price will be going. I climb on board and then when the bb and mas further support my decision during the course of the trade, then I consider whether and where I can get a good price to add on further orders.

That's the basic description of my approach for this strategy anyway.

 

[Forexmospherian]

Here's a trade on GA I have taken which shows the simple approach

http://www.trade2win.com/boards/attachment.php?attachmentid=206464&stc=1&d=1447937424

WD Andy - you got a great entry and up over 50+ pips already

I see problems at 1350 to 70 - but wish you all the best and really do hope the simple approach works well for you

GL with the Journal

Regards

F

Hi Andy

This is always a good test for keeping it KISS

Your target on AU was just over 1360 ( I think )

We made 1350 - stopped and then did a full reversal

Over 135 pip drop in under 2 hrs - a great sell

Please tell me you took profit early and not one of those traders who waits to get taken out either with full target profit - or via their stop ?

Regards

F

 

[Andy4444]

Hi Andy

This is always a good test for keeping it KISS

Your target on AU was just over 1360 ( I think )

We made 1350 - stopped and then did a full reversal

Over 135 pip drop in under 2 hrs - a great sell

Please tell me you took profit early and not one of those traders who waits to get taken out either with full target profit - or via their stop ?

Regards

F

Hi, we have a different mindset that's all. I have targets and a stop loss for all positions. I accept you are pleased with your 135 pips, and that's fine. In my case I am trading to net somewhat more, and I only make adjustments to stops and tps once initial target is made. If stopped ok, I'm stopped, but until then I'm still in the trades, and my philosophy keeps any temptation to tinker at bay.

I don't expect to win 100% of the time, but I expect to be consistent with my approach nevertheless, which has proved successful for me, and I have no intention of changing my policy, which is the objective of starting this journal in the first place, to more proactively see just how valid this approach is. Time will tell who ends up most profitable I guess, your way or my way, either way though I expect we will both be satisfied with whatever results are achieved.

 

[Andy4444]

GJ h4 now have long limit orders in place

http://www.trade2win.com/boards/attachment.php?attachmentid=206522&stc=1&d=1447958920

 

[sun11]

Line chart..very interesting journal..
Wish you all the best!

Regards
Sun

 

[Andy4444]

A poor start.

-£145.00

I will make some very slight alterations and continue next week once I have reviewed the trades in question. It is a marathon not a sprint, so I am not panicking and making wholesale adjustments. I will post results of completed trades during the course of next week if I get the chance, and at the very least I will summarise reults at the wwekend.

I am not interested in pip counts btw, they are meaningless.

For example if I had 3 orders open all at the same price at say 0.1 lots and all 3 achieved say 100 pips, then saying you have made 300 pips is bending the truth so far as I am concerned, it is the same as saying 100 pips for a 0.3 lot, which is far more realistic. In other words, price travelled 100 pips only, not 300!

To eliminate that common misunderstanding, I will post results in currency (pounds in my case) because that is what anyone should be interested in in my view, if anyone wants to convert that to pips, feel free, it makes no difference to me, but at the end of the day we buy things in shops with currency and not pips.

That's all for now

 

[Fugazsy]

A poor start.

-£145.00

I will make some very slight alterations and continue next week once I have reviewed the trades in question. It is a marathon not a sprint, so I am not panicking and making wholesale adjustments. I will post results of completed trades during the course of next week if I get the chance, and at the very least I will summarise reults at the wwekend.

I am not interested in pip counts btw, they are meaningless.

For example if I had 3 orders open all at the same price at say 0.1 lots and all 3 achieved say 100 pips, then saying you have made 300 pips is bending the truth so far as I am concerned, it is the same as saying 100 pips for a 0.3 lot, which is far more realistic. In other words, price travelled 100 pips only, not 300!

To eliminate that common misunderstanding, I will post results in currency (pounds in my case) because that is what anyone should be interested in in my view, if anyone wants to convert that to pips, feel free, it makes no difference to me, but at the end of the day we buy things in shops with currency and not pips.

That's all for now

Well said.

I wish you all the best with your journal and thank you in showing your trades and thoughts.

Fugzs

 

[Andy4444]

Hello all

A new week ahead to try to beat the market.

The poor start to my journal (-£145.00 on closed trades) at the latter end of last week, has been offset a little this week with +£50.00 already via the first AU order reaching it's 1st tp.

A chart is attached showing the remaining 2 positions open.

I have other orders against other pairs in progress at this moment, and all reasonably healthy right now, and no reason to tamper with any of them.

I also have 4 pending orders on certain pairs that fit my approach at a price that I want that have not triggered (and may not at all), but I'll post charts if any do if I get the chance.

I don't want to clutter too many charts against all the orders otherwise it becomes messy, so I'll try to be selective on what ones I do post

Either way, as I've said, I will post a summary of weekly profit/loss, good or bad in currency form as opposed to pips against closed trades. My interest is in keeping a record here of performance and some slight tuning only when I feel it is necessary, and will be a 100% honest reflection of how I'm doing, anything less defeats my objective of development for this approach

A
http://www.trade2win.com/boards/attachment.php?attachmentid=206820&stc=1&d=1448277563

 

[Andy4444]

Well said.

I wish you all the best with your journal and thank you in showing your trades and thoughts.

Fugzs

Tks F

The idea of this journal for me is to prove whether my approach has mileage or not, and the proving takes time as you no doubt know when developing a new strategy, and it's no different in this case for this particular journal.

A successful day or several won't count for much, it's the overall picture after 2 or 3 months that matters to me. The monitoring and reporting and indeed any evolution that takes place is a continuing process, and If the strategy is still holding firm after that period and producing the kind of reults I'm looking for, then I will be happy to fully detail what I have ended up with as a final strategy and my personal mm style, which I appreciate will be different for most people.

For the time being of course though, it is trade and review, trade and review, trade and review

Good luck btw with your own journal

A