Eur-Usd SL demo trades

[bansir]

Missed a nice PDB at around 16:00.
Other distractions meant I was unavailable.

Saw a chance to take an entry on negative divergence at around 20:30.
Wasn't sure if I was actually seeing a divergence or whether my judgment was being clouded by my missing the previous opportunity.

Took a quick assessment of the risk, just 4 pips so thought it was worth a shot.
I trailed the stop down steadily, always above the SMA(12).
When the US session closing time was past, I wasn't sure whether I should close out or not.
I decided to play save and take the 9 pips on offer as the price stalled.
My original plan was to exit as RSI touched 30 or the price touched 1.5510 support.

RR was ok on this one at 2.25


Best Regards,
Neil

 

[bansir]

Just one trade yesterday.
Only managed +3 pips for an initial risk of 10 pips so very poor.

My original target was for +10 and in fact, it was eventually reached.
I had to leave the screen at 18:30 and had a decision to make.
Should I move my stop to BE and leave my sell order in place at 1.5582 or should I close for +3.
I took the latter option.

Best Regards,
Neil

 

[bansir]

positive pips!

Hi All,
Again just one demo trade taken today.
Based on NDT with a stop loss at 10 pips and a target of +10 pips.

The move was pretty quick this time and I actually closed for +12 pips.
Risk to reward 5:6

It's been a positive month for my demo account, the first one for quite a while. I have actually traded far less this month than at any time since February 08 and have finished with positive pips.

Net gain/loss 55.00

no. of losing trades 6.00
no. of winning trades 10.00
no. neutral trades 3.00

Total Trades 19.00

Losing pips -55.00
Winning pips 110.00

Av. win, pips per trade 11.00
Av. loss, pips per trade -9.17

Pips per trade : 2.89

My worst losing run was -25 pips.
Best winning run was +54 pips.

Plenty of room for improvement but at least I may have taken a step to calming my over trading habit.

Here's today's chart:

 

[bansir]

Hi All,
Just one trade today.
+14 pips but R:R was modest at just 1.07 ie. I risked 15 pips initially.

Could have squeezed a few more pips on the exit perhaps.

Here's the chart:

 

[bansir]

Hi Folks,
Took a trade just around 12:00 on Eur-Usd Demo.
Shorted with a 10 pip risk and closed as SMA(12) was crossed for +12 pips.

Could have done better; I had noted the S/R earlier on but failed to work it into my plan. The better exit would have been just above the S/R.
R:R slightly better than yesterday at 5:6

Best Regards,
Neil

 

[bansir]

Hi,
Two trades, both losers of -10 and -17 pips.
I think I risked a little too much on the second trade; recent wins have been
somewhat less than 17 pips.

Bye for now,
Neil

 

[bansir]

Hi Folks,
Three trades today.
2 losers and 1 winner: -8, -17, +11 so -14 pips in 3 trades.

I could maybe have managed the second trade a little better.
For example, I could have moved the stop up under the higher-lows or maybe close the
trade as the SMA(12) was hit. Easy with hind-sight.

Another trouble spot was, I didn't really have an exit target.

On the 3rd trade I did have a target exit event and closed for +11 as the SMA(12)
was touched.
I think it seems especially important to pay particular attention to limiting exposure when one has strung a few losers together.

I have taken a few hits but on the positive side, I feel ok with the last few days trades because I stuck to the rules and waited for good set-ups.

Best Regards,
Neil

 

[bansir]

Three trades again today.
-3, -5, and +14
The SMA(12) target T1 was never reached on the first 2 trades.
Managed to get the entry correct at the third attempt. Target T2, of 50 region on RSI worked well on this occasion.

Initial risk on the third trade was just 6 pips so the risk reward was fair at 3:7

Here's the chart with comments in the margin to save clutter.

Best Regards,
Neil

 

[bansir]

Hi Folks,
Trades from yesterday :-
+10 pips in 2 trades on Eur-Usd

Reasonable R:R on first trade which was ~ 2 or 0.5 according to which way you look at it.

I prefer to take Reward divided by Risk so I'll call it 2:1 or just 2.

Could have got a shed load of pips on the first trade if I had trailed my stop but I used RSI=50 target. Whilst I missed a lot of pips I am finding that exiting on targets can prevent winners turning into losers.

I had a mini-trial with the same system on Gbp/Usd on monday
Ok here are the charts:

 

[bansir]

Got involved in a bit of askirmish around S/R.
Came out with -6 pips in 3 trades.

I could have taken 12 pips on the first trade and 14 pips on the 3rd trade if I had played the exits differently. Easy looking back, but you just have to make the decisions as things unfold.

The second trade was the worst, not just in terms of pips; I felt the old frustration reaction creeping back in and realised that it influenced me to give NDT 1 another go.
At least I was aware of the problem this time around.

Note: The s/r around '725 seems to be key today (10/7/08) aswell; there's just been a strong break out from that region.

The chart is bit busy but here it is FWIW:

Best Regards,
Neil

 

[bansir]

Hi,
Just one trade yesterday for +13 pips.
Just a little early on the exit; the price seemed to stall just above my target so I closed out whilst I had pips on the table.

Interesting how the breakout happened around S/R I marked on the chart the day before yesterday.

 

[bansir]

The old batting average took a bit of a hit today.
4 trades and -45 pips.

The move north was strong and the divergences failed.
NDT 3 sort of worked but I had called it a day by then.

Fairly happy that the trades were within the system although
I should have waited a little longer for NDT1's second peak to
go >70.

Here's the chart:
Can't seem to upload it:- will try later

 

[bansir]

The old batting average took a bit of a hit today.
4 trades and -45 pips.

The move north was strong and the divergences failed.
NDT 3 sort of worked but I had called it a day by then.

Fairly happy that the trades were within the system although
I should have waited a little longer for NDT1's second peak to
go >70.

Here's the chart:
Can't seem to upload it:- will try later

re-try chart upload---

 

[bansir]

Just one trade today for +31 pips.
Didn't really use any sort of target for the exit. Just took
the pips while they were there.
The R:R was fair at 2.83 and the trade has helped to
offset my recent losing run.

Best Regards,
Neil

 

[bansir]

Quick catch up on yesterday's trade.
1 trade for +18 pips.

Fairly straight forward this one but I was lucky this time on the
exit; the price slipped in my favour.

The initial stop was tightish at 10 pips risk.

Best Regards,
Neil

 

[bansir]

Just one trade today for +11 pips.
Entry was good and R:R was fair but...
My exit was poor. Based entirely on fear of loss.

I think to win at this game you really have to be able to take advantage of these moves.

Here's the chart:

 

[bansir]

Hi Folks,
Gave back recent gains yesterday.
5 trades for -48 pips.
Probably should have called it a day after the third divergence failure.
Divergence failures can often indicate that a strong trend is likely to develop.

On the positive side, my losses were all reasonably small and my average loss per trade is around -9 pips.
My average win is about 13 pips.
I do however, have twice as many losers as winners.

Here's the chart:

 

[bansir]

Two trades from yesterday.
Entry on positive divergences, exit first one on SMA(12) touch for +15.
Exit second one on RSI=50 for +8.

Poor R:R on second trade at 0.61
Lots of slippage on the entry for this one didn't help.

The s/r line seemed to still be valid; it just popped up on the screen on it's own; I must have drawn it in at some point earlier this month.

Best Regards,
Neil

 

[bansir]

Hi Folks,
Just catching up with my trading logs.
Took 2 trades on Friday one for -6 pips and one for -11 pips.

Today I played a negative divergence short but was taken out quite quickly
for -6 pips.

I may need to look at using price action / trend line breaks or some form of
divergence confirmation. Will keep steady for now while July plays out then review at month end.
Opportunities for trading will be limited for a while; other stuff is happening right now.
May have to adjust my trading periods a little.

Best Regards,
Neil

 

[bansir]

Hi,
Here are yesterday's trades.
-11, -13 and +6 pips.
I'm still pretty much in a losing groove just now.
I really do need to look at improving win / lose ratio.

Here is the chart: