YouAreNotFree's £1k-£1,000,000 Journal

[ProfessorK]

Will be watching and wish you the best of luck.

I tend to prefer shorter time frames myself, glad to see you making the switch! :clap:

Although I have never been a big fan of TA, I'm sure you can find a way to make it work on the shorter time frames.

 

[YouAreNotFree]

Will be watching and wish you the best of luck.

I tend to prefer shorter time frames myself, glad to see you making the switch! :clap:

Although I have never been a big fan of TA, I'm sure you can find a way to make it work on the shorter time frames.

Cheers Professor, appreciated.

That reminds me, I had a couple of 5 min trades Monday. -32 pips on one and +15 on the other. My 5 min trades will be limited, I grind the poker tables for a living and I can't do both. Its really only a few hours early morning I have available for that.







This is the Gold trade. + 9.4%/ £146.30. Top yellow was entry. Bottom yellow line the exit. As you can see I have also entered 3 long trades but these are not part of my 'trading'. I've taken these with a view to holding them for as long as possible. I do own alot of Gold and Silver and I will sometimes use a brokerage account to take additional positions.






AUD/NZD trade. Full 2% loss. -£32.50. Broken t/l and then a failed bullish pin. I entered at the low of the bearish bar indicated by arrow. Normally I would have made a quick exit after it was followed by another bullish pin bar but I overslept.







I've not really paid much attention to the currency market this week. I'm finding it a little flat/ difficult to see much opportunity. Hopefully get some decent trades next week though.

 

[YouAreNotFree]

I went long the USD/JPY earlier. This is based only on my understanding that the BoJ is actively protecting the area of my entry and so I believe it to be a low risk trade. There's also a possibility that they will weaken the Yen significantly. I'll take my chances on this one anyway.

The s/l should be below the recent low, I'll get that moved.








NZD/USD. Watching this t/l closely with a bullish bias.

 

[YouAreNotFree]

£9.20/ 0.56% loss on NZD/USD.

We broke the t/l to the upside. Didn't work out. Bailed when price went sideways and then closed below for a small loss on a 2% risk trade.

Yellow lines top to bottom are entry, exit and stop loss.







I'll probably be putting in a buy limit on the USD/NOK. I have watched this area for a few months now. Time after time it has entered a very strong support area and bounced but I have stupidly never entered a trade.

Yellow lines entry and stop loss.






USD/JPY hasn't moved. I've put in a t/p of 5x risk which is just below the high following the BoJ intervention a few weeks ago. The swap is only costing me a penny per day so holding it is doing no harm.

 

[YouAreNotFree]

I have been looking into a little strategy that I thought may work very nicely based upon a casual observation I have made since the beginning of the year.It involves a blind long entry on a Friday afternoon/ evening UK time, closing just before the market shuts.

I have only been able to go back 5 months but these are the results.

Blind entry/time.............Av profit/ pips

4pm.......................+46

5pm.......................+55

6pm........................+44

7pm........................+25



4pm showed 4 losers
5pm showed 3
6pm showed 1
7pm showed 5


There was a single especially good week but even if that is excluded the results 4pm-7pm are +23, +35, +28 and + 16 respectively.

I need to grab some historical data for a larger sample size but like I said I am confident that the results back to at least the start of the year will be similar as that is when I first noticed this.




USD/JPY still not doing much.

 

[YouAreNotFree]

I think I may be onto something with this blind entry system.

I went back 1 year (unable to go back further as of yet), and over a sample size of 49 the best entry time returned an average of 45 pips after the spread. It actually did not seem to make a significant difference what the short term trend was or if it was an up/down day. Each hour 3pm-7pm was profitable, but 3pm and 5pm showed the best results and were in fact less than a pip apart.

Today it returned +92 pips, however I only risked 20p pp given this is forward testing, for £18.40.




I am short Brent crude. Trade entered on the daily chart.

Momentum had slowed, forming a pin bar off the descending trendline.






0.5% for the week not including two open positions currently in profit. The USD/JPY is still doing nothing. I can wait.

 

[Jason101]

Thanks man!

I got in on the Eur/Chf again last week. Got 4.5% out of it. Chart below is a screenshot of my entry, I had a take profit just above the lows. The arrow is a bang on entry I would have taken, but on the day it presented I wasn't trading, which sucks.

Last week was a poor one for trading as I was busy with all sorts of stuff. I will be all over the market this week though.

Why would you not have taken the red pin four bars back?

 

[YouAreNotFree]

Why would you not have taken the red pin four bars back?

Don't remember now. This is the problem with my discretionary approach. Give me the same set-up on two different days, one time I will take it and the other I won't. There were well established trendlines all over the place at that time, offering opportunity after opportunity and I didn't take almost all of them. Things have been shaken up alot now.


Stopped out of the Brent short at the yellow line for £41.40/ about 2.5%.







This is how the USD/JPY currently looks. I figure this is likely to sink back down again given past form so I may take some profit off the table soon.







USD/NOK buy limit order triggered. Half off at 2:1 on this one if it gets there. EDIT- half off at a little less than 2:1 for £28.40.

 

[YouAreNotFree]

Closed 40% of the USD/JPY for £19.32.

Stopped out of the USD/NOK at yellow line for total of £66.48/ approx 4%. I've put in another buy limit order. I knew I should have closed this one sooner and taken 3x risk, it likes to revisit the area of my entry.





Current balance is £1772.32. Motoring along nicely.

 

[YouAreNotFree]

Took a loss on the USD/NOK. £38.20/ little over 2%.

Completely my fault, the trade was triggered around the German court ruling and so it was very volatile. It has since done exactly what was expected which makes me feel stupidly naive. Good idea, poor execution. Top yellow entry, bottom was my s/l. I think in future I may put an order in after price has moved well past the area I want to enter.






I closed the remaining part of my USD/JPY trade for £27.50. I'll be looking to buy again at the 76.50 area.


New balance £1761.62

 

[YouAreNotFree]

I wasn't around to trade my new Friday afternoon system but it gave a loss of 38 pips. Its +45 for the two weeks of forward testing so far.


I came across this YT video of a day trader clearly under alot of stress. Funny stuff.


Fellatio for Cash - YouTube



End of week balance £1761.62.

 

[YouAreNotFree]

1.5 pips away from getting an entry on my pending USD/JPY long. It went below my limit price but when the spread was taken into account I missed it.

 

[YouAreNotFree]

What a plonker. Missed a Crude Oil trade on Monday. Came back to my t/l perfectly, then a two bar reversal.






Watching the GBP/NZD closely.






USD/JPY buy limit triggered. 2% risked as usual. Top red line is where I will take 40% of the trade off, assuming it ever gets there.






In the next few weeks I will probably start trading the Market Profile in addition to my 4 hour charts once I get my office re-fit completed. Ive been paper trading it for a month or so on the 30 min t/f. I've had very good results and studying this method has helped alot with my understanding of markets.

 

[YouAreNotFree]

Sod off......... 0.7 pips off t/p target.







Bit too busy this week to pay enough attention to the charts so it would have been nice to bank some profit from that move up.

 

[YouAreNotFree]

Friday system gave +212 pips but again, I didn't trade it this week. Shame. That's +257 for the three weeks of forward testing so far. I will put money on the line for this system every week from now on.

GBP/NZD did indeed break down. I very nearly put a pending sell order in on the close of the arrowed bar, at the yellow line, but I didn't expect it sell off given the tail.






USD/JPY doing nothing at all still. I'm just a single pip up on that trade.


Balance finishes the week where it started, £1761.62

 

[Bondy8]

Hows things going at the moment? Haven't heard from you for a few weeks.