A day on the charts

[kaya75]

Hello all,

Seeing as I'm hanging around doing all the taking thought I'd set up a journal, and do some giving.

So I thought how to tackle this, I want a straightforward journal, but depending on conditions my trading changes..

So for the sake of clarity, this journal will follow one aspect on my trading, the London open. Essentially its a breakout strategy as outlined by Claudia in USD/GBP Breakout thread.

Method of entry, Orders

Profit target 20 pips

My stop will be 20 pips

So some ground.. the following will be the focus of this journal.

Usdgbp
Usdeur

Analysis: Asian range hi/lo, previous days range, previous days hi/lo.
Fundamentals; holidays, news, day of week.

At the end of week short analysis on ratios and trades.

I really use this method as a early morning 20 pip scalp, the key I find is not when to trade its when not to...

As background, it look for strong ducks / breakouts using pullbacks and fibs. Although the London open underpins each and everyday, if I take 20 and there is no strong setups for taking a potion of the ADR, I'll walk away for the day happy with 20pips, if there are strong setups looming ill look for later entries. If I lose the London open I'll take the day off, If I don't trade the open I will look for strong entries on pullbacks, using the 3 Ducks as a strong TA indicator.

This journal will only cover the London Open

Hope that makes sense, please ask for clarification if not.

Also any comments welcome

Peace and pips

P.s I'm going to do this for 100 trades, see if I can actually keep a journal...

 

[kaya75]

BANK Holiday = no trades

(Also, this will be called from my phone sometimes, charts will be updated once on workstation)

# 000
Times @ GMT
00:00
Pair: Cable ¦ Fiber
Order: Long ¦ Short
Filled: 00:00
Entry: 0.00000
TP: 0.00000
SL: 0.00000
EP: 0.00000
Exit: 00:00
Pips: 0

PIP COUNT: 0

Comment:
So as I don't trade on holidays, I thought I'd lay the templete out, any additional suggestions? Happy spring!


Ratios:

W/L: 0/0
Average R/R: 0:0
P/L: 0%
Peace and pips

 

[alexaherself]

Following with interest and wishing you well with it.

(I also decided not to trade, today: no point in recording "trades" for a system that's based, in my case, on both NY and London being open at the same time, when London wasn't. And all the more so, in your case).

Good luck!

 

[kaya75]

There is nothing happening on bank hols - i thought it was a Fed Hol in the states too yesterday - double quiet - and the sun was out!

I just put my orders in: (i will fill out the template once orders are filled / complete)

GBP buy@ 1.51155 / [email protected]

EUR buy@ 1.29347 / sell@ 1.28819

all orders are for four hours - once one order is filled the opposing order is killed.

Happy Pips

 

[kaya75]

Time 11:15 - all orders cancelled.

Both pairs have just ranged out of London open, I'm not surprised, its one reason my orders where wide. Considering the drop on the Asian open, both pairs look to be consolidating into NY open

Peace and pips

 

[kaya75]

Hi All,

No trades today - err - i overslept - well turned over at 6:30 and when i actually got my lazy **** out of bed at 7:30 I'd missed the break at 7ish - they'll teach me to assume nothing will move 'till 8! - not to worry - bring on tomorrow.

Peace and Pips

 

[kaya75]

Morning - got myself out of bed today! :whistling

Here are the orders based on the Asian session hi / lo.

GBP buy@ 1.51872 / sell@ 1.51110

EUR buy@ 1.29840 / sell@ 1.29350

Happy Thursday all

Peace and Pips :clover:

 

[Babyblush]

20 pips target is quite a reasonable one and if you have got the good entry level during the market opening then all chances to hit the trade with take profit within few hours.

 

[kaya75]

# 001
Times @ GMT
06:55
Pair: Fiber
Order: Long
Filled: 07:17
Entry: 1.29840
TP: 1.30040
SL: 1.29640

Exit: 07:42
Pips: -20

PIP COUNT: -20


Comment:
This was a legit order - but i should have taken notice of the 6:35 wick - i went in just above the 6:40 wick.

No worries though, it was quiet break at 0:6:15 so maybe i should have stayed out.


Ratios:

W/L: 0/1
Average R/R: 1:1
P/L: -100%
Peace and pips

Happy Thursday

 

[kaya75]

GBP Long Order triggered

10:42
@ 1.518720

 

[kaya75]

.# 002
Times @ GMT
06:55
Pair: Cable
Order: Long
Filled: 10:42
Entry: 1.51872
TP: 1.52072
SL: 1.51672

Exit: 11:00
Pips: -20

PIP COUNT: -40


Comment:
This order was late in the day - especially with NY news. Also you may notice the 1.52000 number coming up.

Carry on

Ratios:

W/L: 0/2
Average R/R: 1:1
P/L: -100%
Peace and pips

Happy Thursday

 

[alexaherself]

Also you may notice the 1.52000 number coming up.

Yes indeed: have been wondering whether that might break, this afternoon, or whether it'll be a real resistance. We saw 1.51984 earlier this morning ... :|

 

[kaya75]

Yes indeed: have been wondering whether that might break, this afternoon, or whether it'll be a real resistance. We saw 1.51984 earlier this morning ... :|

Sweet, the afternoon break was a good call, the 1.52 went at about 18:00 last night, it's still pretty choppy out there, but we'll see what today brings.

Happy Friday!

 

[kaya75]

Here are the orders based on the Asian session hi / lo.

GBP buy@ 1.52396 / sell@ 1.52125

EUR buy@ 1.30500 / sell@ 1.30300

Happy Friday All

 

[kaya75]

# 003
Times @ GMT
7:50
Pair: Cable
Order: Short
Filled: 8:03
Entry: 1.521250
TP: 1.519250
SL: 1.523250

Exit: 09:35
Pips: 20

PIP COUNT: -20


Comment:
This moved back to the Asian low before moving down again, one thing I like about setting up orders and leaving them to run is I don't have to fight the fear of watching the retrace.. if I'm in the trade I should have the confidence to stay there, but as we all know its a different story when the wave turns and we seem certain that we are left smack in the impact zone.

Ratios:

W/L: 1/2
Average R/R: 1:1
P/L: -66%
Peace and pips

Happy Friday

 

[kaya75]

# 004
Times @ GMT
7:50
Pair: Fiber
Order: Short
Filled: 8:02
Entry: 1.303020
TP: 1.301010
SL: 1.299010

Exit: 09:23
Pips: 20

PIP COUNT: 0

Comment:
This trade pretty much followed the same action as the GBP, some may say, why trade the cable and the fiber at the same time seeing as the only time they will deviate this system will breakdown... And its true, next week I shall be looking at the ADR and s/r maybe COT and libor overnights, compared to the GBP/eur to check out the stronger/weaker of the pair.

I've not had a lot of time to chart these properly this week, but regardless using both HBO and EUR its possible to catch the breaks.

As always, I see this breakout as a strong system as long as the time not to trade is recognised - there is no way that I should have entered orders after price had moved yesterday, but because I overslept on Wedensday I "wanted" to trade and I payed for the privilege.. just remember the.market don't care a dot what I want..

Still back to break even on Friday morning, so I'm taking the rest of the day off Have a great weekend all

Ratios:

W/L: 2/2
Average R/R: 1:1
P/L: 50%

Peace and pips

Happy Friday

 

[kaya75]

Morning all

Here are the orders based on the Asian session hi / lo.

GBP buy@ 1.52243 / sell@ 1.51941

Happy Mondaze

 

[kaya75]

Morning all

Here are the orders based on the Asian session hi / lo.

GBP buy@ 1.52243 / sell@ 1.51941

Happy Mondaze

# 005
Times @ GMT
06:55
Pair: Cable
Order: Long
Filled: 07:04
Entry: 1.522430
TP: 1.524460
SL: 1.520243

Exit: 07:36
Pips: 20

PIP COUNT: 20

Comment:

Looking the trend lastnight before sunday open using the 3 ducks - all ducks where up - s. So as long as nothing mad happened overnight I'd be looking at a buy order before 7am.

Note on the P/L percentage - actually its not the P/L is it? it's the W/L %! sorry

Ratios:

W/L: 3/2
Average R/R: 1:1
W/L (%): 60%

Peace and pips

Happy Monday

 

[alexaherself]

Well done; keep them coming.

 

[kaya75]

Well done; keep them coming.