Spreadbetting FX using TA

[SH-101]

EUR/JPY orders binned.

 

[SH-101]

Order placed to sell EUR/USD at 1.3298 bid, if-done stop 1.3407 offered, if-done limit 1.3085 offered.

Another order placed to sell EUR/USD at 1.3334 bid, if-done stop 1.3407 offered, if-done limit 1.3195 offered.

Two different types of trade - will go with which one triggers first. The latter has already triggered but I'm always slow getting up to speed on Mondays so missed it

 

[SH-101]

Order placed to sell EUR/USD at 1.3298 bid, if-done stop 1.3407 offered, if-done limit 1.3085 offered.

Another order placed to sell EUR/USD at 1.3334 bid, if-done stop 1.3407 offered, if-done limit 1.3195 offered.

3298 sell order filled, 3334 order deleted.

 

[SH-101]

3298 sell order filled, 3334 order deleted.

The setup saw bearish hidden divergence on the 1h chart in direction of 4h + Daily trend (ema's crossed down / pointing down, MACD's generally down etc). Note also an interesting fibonacci cluster.

I'm aware that there is a level of risk in this trade - though I don't much care for fundamentals it would be foolish not to be aware of the potential for interesting action based on Greece bailout possibilities etc. I'm also aware of bullish divergence in some longer-term charts.

However there were enough reasons for me to trade this setup, and I'm prepared to accept the worst-case outcome which would be to be stopped out and therefore put me at a ~10% loss for the month (my monthly loss limit). I've achieved above-target gains in Jan, Feb & Mar (obviously you'll have to take my word for it in terms of Jan & Feb! ) so I can absorb a monthly loss of that level if it comes to that.

 

[SH-101]

Stopped out of EUR/USD for a 5.03% loss, by less then 10 pips, before the real down-move started to happen

So that's me done for the month, I'm a strong believer in discipline and will be sticking to my loss limit for the month and taking the last few days off to analyse, clear things up and come back fresh next month. I know the pitfalls of "revenge" trading or desperately trading in the hope of recouping losses from back in my day-trading days (years ago I once blew over 20% of my account in a single day trying to make up early losses!) so regardless of any setups that come along I will not be involved.

April's trading produced a loss of 10.17%. In point of fact my average monthly gain for 2010 is still above target but again you'll have to take my word for that

Average monthly gain for this journal since 01/03/10 is now 4.78%.

 

[SH-101]

Amidst the general messiness of the markets in recent weeks I took some time away to sort out various real-life related issues, which was quite refreshing actually

But now I've just stuck in an order to buy USD/CAD at 1.0355 offered, if-done stop 1.0253 bid, if-done limit 1.0546 bid.

 

[SH-101]

Order amended on USD/CAD to buy at 1.0348 offered, if-done stop 1.0241 bid, if-done limit 1.0554 bid.

 

[SH-101]

USD/CAD order filled while I was in the boozer (for a change!)

Screenshots show the general longer-term uptrend with both hidden and regular bullish divergence signals on the 1h chart. Note also the potentially key resistance-turned-support level.

 

[SH-101]

Stop to break-even on USD/CAD.

 

[pssonice]

u bought USDCAD at the top, this is bad 4 u and bad 4 us !

remember, u ve to buy at a low and u ve to sell at a top !
"20100518, 3:05pm #87 SH-101
BUY USD/CAD 1.0348 STOP 1.0241 PROFIT 1.0554"

 

[SH-101]

Re: u bought USDCAD at the top, this is bad 4 u and bad 4 us !

remember, u ve to buy at a low and u ve to sell at a top !
"20100518, 3:05pm #87 SH-101
BUY USD/CAD 1.0348 STOP 1.0241 PROFIT 1.0554"

Uhm, apologies pssonice but I'm not sure I understand what you mean. This trade is currently over 130 pips in profit with stop at break-even, so I don't quite see how it's "bad"?

 

[pssonice]

supicious trades, from your site, yes,no, amended, filled ... low at 1.02452

Liar ?
20100518, 3:05pm #87 SH-101
amended on USD/CAD to buy at 1.0348 offered, if-done stop 1.0241 bid, if-done limit 1.0554 bid.

20100518, 7:20pm #88 SH-101
USD/CAD order filled while I was in the boozer (for a change!)

20100518.0500,1.03358,1.03449,1.03333,1.03387,191

20100518.0515,1.03392,1.03409,1.03329,1.03399,151
20100518.0530,1.03404,1.03471,1.03339,1.03354,190
20100518.0545,1.03353,1.03417,1.03313,1.03374,156

20100518.0600,1.03375,1.03411,1.03365,1.03370,87
20100518.0615,1.03375,1.03388,1.03363,1.03378,95
20100518.0630,1.03372,1.03394,1.03363,1.03370,58
20100518.0645,1.03368,1.03413,1.03347,1.03393,64
20100518.0700,1.03389,1.03506,1.03386,1.03475,134
20100518.0715,1.03470,1.03488,1.03331,1.03351,131
20100518.0730,1.03355,1.03371,1.03152,1.03160,208
20100518.0745,1.03165,1.03205,1.03084,1.03086,182
20100518.0800,1.03091,1.03145,1.03029,1.03128,352
20100518.0815,1.03133,1.03191,1.02930,1.02938,420
20100518.0830,1.02943,1.03058,1.02943,1.03023,434
20100518.0845,1.03028,1.03057,1.02912,1.02925,361
20100518.0900,1.02935,1.03006,1.02808,1.02808,503
20100518.0915,1.02812,1.02837,1.02613,1.02642,518
20100518.0930,1.02637,1.02752,1.02579,1.02747,452
20100518.0945,1.02742,1.02888,1.02716,1.02849,441
20100518.1000,1.02854,1.02911,1.02709,1.02800,542

 

[SH-101]

Mate, I haven't got the faintest idea what you're on about !

At 16.05 UK time yesterday I posted that I had placed an order to buy USD/CAD at 1.0348, and I also set a stoploss and target to go with that order if it was filled. At the time, USD/CAD was trading around 1.0315.

I then went off for a few beers in the pub. The order was filled at 17.03 UK time.

Do keep up

 

[pssonice]

great trade ! sorry, my mistake. I didnt recognize the time of your trade "PM" / "AM"

20100518.1500,1.02800,1.02830,1.02674,1.02693,462
20100518.1515,1.02688,1.02717,1.02557,1.02564,421
20100518.1530,1.02563,1.02693,1.02550,1.02625,732
20100518.1545,1.02630,1.02630,1.02458,1.02525,730
20100518.1600,1.02530,1.02800,1.02496,1.02671,798
20100518.1615,1.02675,1.02760,1.02587,1.02706,795
20100518.1630,1.02711,1.02915,1.02645,1.02910,742
20100518.1645,1.02915,1.03130,1.02910,1.03116,912
20100518.1700,1.03114,1.03209,1.03011,1.03060,729
20100518.1715,1.03056,1.03175,1.03024,1.03055,634
20100518.1730,1.03054,1.03270,1.02947,1.03257,567
20100518.1745,1.03255,1.03315,1.03218,1.03298,677
20100518.1800,1.03297,1.03480,1.03275,1.03298,649
20100518.1815,1.03297,1.03434,1.03237,1.03316,605
20100518.1830,1.03316,1.03336,1.03168,1.03204,540
20100518.1845,1.03205,1.03374,1.03107,1.03364,726
20100518.1900,1.03368,1.03650,1.03300,1.03623,942
20100518.1915,1.03622,1.03703,1.03466,1.03540,842
20100518.1930,1.03535,1.03752,1.03427,1.03699,906
20100518.1945,1.03702,1.03839,1.03646,1.03833,836
20100518.2000,1.03834,1.03839,1.03575,1.03643,806
20100518.2015,1.03645,1.03746,1.03592,1.03649,757
20100518.2030,1.03649,1.03855,1.03608,1.03717,716
20100518.2045,1.03717,1.04042,1.03663,1.04032,852
20100518.2100,1.04030,1.04104,1.03626,1.03635,1076
20100518.2115,1.03626,1.03772,1.03553,1.03768,720
20100518.2130,1.03762,1.03839,1.03676,1.03690,880
20100518.2145,1.03695,1.03783,1.03653,1.03687,570
20100518.2200,1.03687,1.03825,1.03683,1.03710,289
20100518.2215,1.03720,1.03761,1.03675,1.03735,174
20100518.2230,1.03735,1.03859,1.03735,1.03859,83
20100518.2245,1.03850,1.03909,1.03815,1.03902,147
20100518.2300,1.03877,1.03944,1.03768,1.03944,206
20100518.2315,1.03954,1.04065,1.03950,1.04054,154
20100518.2330,1.04053,1.04118,1.04036,1.04108,84
20100518.2345,1.04104,1.04113,1.04005,1.04086,106
20100519.0000,1.04048,1.04119,1.04048,1.04103,95
20100519.0015,1.04115,1.04115,1.03999,1.04043,163
20100519.0030,1.04038,1.04118,1.04037,1.04048,83
20100519.0045,1.04043,1.04108,1.04033,1.04066,174
20100519.0100,1.04065,1.04082,1.03994,1.04073,198
20100519.0115,1.04072,1.04073,1.03982,1.03983,197
20100519.0130,1.03998,1.04050,1.03953,1.04050,177
20100519.0145,1.04055,1.04252,1.04048,1.04248,364
20100519.0200,1.04246,1.04263,1.04071,1.04071,391
20100519.0215,1.04072,1.04112,1.04001,1.04088,301
20100519.0230,1.04088,1.04290,1.03999,1.04262,424
20100519.0245,1.04263,1.04346,1.04205,1.04342,496
20100519.0300,1.04342,1.04482,1.04313,1.04383,391
20100519.0315,1.04379,1.04383,1.04233,1.04243,257
20100519.0330,1.04240,1.04266,1.04173,1.04260,282
20100519.0345,1.04267,1.04388,1.04220,1.04243,263
20100519.0400,1.04248,1.04248,1.04123,1.04173,317

 

[SH-101]

Re: great trade ! sorry, my mistake. I didnt recognize the time of your trade "PM" /

OK, no worries

 

[SH-101]

This USD/CAD trade did it's best to frustrate - repeatedly going close to target before dropping back (at one stage losing over 130 points of profit in a big retracement) but it did eventually get there!

This trade produced an eventual gain of 9.55% after two days rollover - very nice indeed and almost undoing April's losses in one fell swoop

 

[SH-101]

Another USD/CAD order placed, this time to buy at 1.0601 with if-done stop at 1.0529 and if-done limit at 1.0735.

For various reasons that I'll leave off this page, I am risking only half my usual trade size on this one, so the risk level is 2.5%. The market has already traded through my entry level and back below, so this is a "second chance" entry.

 

[SH-101]

USD/CAD order filled very quickly - almost missed out there as I wasn't able to get a look at the charts until just before 11am this morning.

 

[SH-101]

Upward trend established on higher time-frames - shown here by 20ema/60sma crossed up and pointing up.

Both hidden and regular divergence present on 1h, with a previous resistance area now providing support in conjunction with a fib level.

 

[SH-101]

3 something in the morning... i'm a bit spaced out but just about compos mentis enough to set stop to break-even on usd/cad....