Simple Cable + Euro breakouts journal (no indicators)

Good skills :) there is a few of your trades that cross into London close too, do you just leave the orders to run through?

Peace and Pips :)
 
Yes, I let the odd one sit there, sometimes adjusting the stop-loss. If they're decently in profit, I sometimes choose a time to close them, near the NY close - I don't worry before that. I never leave anything open over the weekend, and rarely overnight. (For this thread I probably won't leave anything open overnight.)

My limit orders expire at 5.00 UK time, though - so my trades do have to open before the London close.


Wednesday 29th May

Cable: high 1.51294, low 1.51002
Long entry 1.51319, TP 1.51529, TS 21 pips
Short entry 1.50977, TP 1.50767, TS 21 pips

Euro: high 1.29624, low 1.29262
Long entry 1.29649, TP 1.29829, TS 18 pips
Short entry 1.29237, TP 1.29057, TS 18 pips
 
Wednesday’s results

Cable: long 3.23p.m. (short entry cancelled), stopped out 3.40p.m. at 1.51251, losing 6.8 pips

Euro: long 3.57p.m. (short entry cancelled), stopped out 4.04p.m. at 1.29519, losing 13 pips


Cable
Today’s loss: 6.8 pips
Cumulative profit: 22.5 pips

Euro
Today's loss: 13 pips
Cumulative profit: 21.2 pips

Overall balance
Currently +43.7 pips
 
Looks really good that you are able to make consistent profits by trading with this strategy of keeping the trade simple. This is what matters a lot for traders to survive in the forex market.
 
Thursday 30th May

Cable: high 1.51950, low 1.51148
Long entry 1.51975, TP 1.52185, TS 21 pips
Short entry 1.51123, TP 1.50913, TS 21 pips

Euro: high 1.30494, low 1.29431
Long entry 1.30519, TP 1.30699, TS 18 pips
Short entry 1.29406, TP 1.29226, TS 18 pips
 
Thursday’s results

Cable: long 3.08p.m. (short entry cancelled), TP 3.56p.m., gaining 21 pips

Euro: long 3.10p.m. (short entry cancelled), stopped out 3.40p.m. at 1.30434, losing 8.5 pips


Cable
Today’s profit: 21 pips
Cumulative profit: 43.5 pips

Euro
Today's loss: 8.5 pips
Cumulative profit: 12.7 pips

Overall balance
Currently +56.2 pips
 
Friday 30th May

Cable: high 1.52398, low 1.51673
Long entry 1.52423, TP 1.52633, TS 21 pips
Short entry 1.51648, TP 1.51438, TS 21 pips

Euro: high 1.30166, low 1.29668
Long entry 1.30191, TP 1.30401, TS 18 pips
Short entry 1.29643, TP 1.29463, TS 18 pips
 
Friday’s results

Cable: short 3.01p.m. (long entry cancelled), TP 4.07p.m., gaining 21 pips

Euro: short 3.00p.m. (long entry cancelled), TP 4.10p.m., gaining 18 pips


Cable
Today’s profit: 21 pips
Cumulative profit: 64.5 pips

Euro
Today's profit: 18 pips
Cumulative profit: 30.7 pips

Overall balance
Currently +95.2 pips


Passed off quite peacefully, "for a Friday". And have a good weekend. :)
 
PS - I forgot to list the Friday cumulative results separately, which I said last week I'd do, each Friday, to see if they're noticeably worse than the overall results. So, here they are after two Fridays: +13.6/+0.2.
 
alexaherself said:
PS - I forgot to list the Friday cumulative results separately, which I said last week I'd do, each Friday, to see if they're noticeably worse than the overall results. So, here they are after two Fridays: +13.6/+0.2.
Click to expand...

Some nice results, your trading is well disciplined, would there be a set up that you wouldn't trade? There seems to be a lot of your orders get triggered on London close, which is interesting to see. I looked at the London close trade a whole back but could never really achieve more then 50:50 but was a much different PA setup then the one that you are using. Good pipin!

Pips and peace
 
kaya75 said:
would there be a set up that you wouldn't trade?
Click to expand...

Yes, I think so: I probably wouldn't put in one of my limit orders if (i) there were really convincing-looking support/resistance in one direction, or if (ii) I were really convinced about an underlying trend in one direction.

kaya75 said:
There seems to be a lot of your orders get triggered on London close, which is interesting to see.
Click to expand...

Yes ... although I suppose limit orders entered at 3.00, good for 2 hours, are bound to be filled close to the London close sometimes?

I do think "the London close" is sometimes "a significant price", for the next 24 hours, though.

I haven't exactly researched it exhaustively, but I strongly suspect that the proportion of the time that it turns out to be within a pip or two of a level of support/resistance, during the following 24 hours, is significantly higher than that for any randomly selected level from the previous day's range. Dr. Alexander Elder would probably have something to say about that (and has probably said it, somewhere!). :)

Good luck for the coming week.
grinning-smiley-023.gif
 
alexaherself said:
Yes ... although I suppose limit orders entered at 3.00, good for 2 hours, are bound to be filled close to the London close sometimes?
Click to expand...

sweet - I thought your orders ran from NY open to london close, but of course you are usingthe PA of the NYOpen to enter orders at 3pm!! Thanks for not laughing at me too much :eek:

Its a fine pip count you got going on there, Happy Pips this week :clover:
 
Monday 3rd June

Cable: high 1.52760, low 1.52368
Long entry 1.52785, TP 1.52995, TS 21 pips
Short entry 1.52343, TP 1.52133, TS 21 pips

Euro: high 1.30142, low 1.29554
Long entry 1.30167, TP 1.30347, TS 18 pips
Short entry 1.29529, TP 1.29349, TS 18 pips
 
Monday’s results

Cable: long 3.01p.m. (short entry cancelled), TP 3.49p.m., gaining 21 pips

Euro: long 3.06p.m. (short entry cancelled), TP 3.27p.m., gaining 18 pips


Cable
Today’s profit: 21 pips
Cumulative profit: 85.5 pips

Euro
Today's profit: 18 pips
Cumulative profit: 48.7 pips

Overall balance
Currently +134.2 pips
 
Tuesday 4th June

Cable: high 1.53128, low 1.52736
Long entry 1.53153, TP 1.53363, TS 21 pips
Short entry 1.52711, TP 1.52501, TS 21 pips

Euro: high 1.31016, low 1.30564
Long entry 1.31041, TP 1.31221, TS 18 pips
Short entry 1.30539, TP 1.30359, TS 18 pips
 
Tuesday’s results

Cable: long 4.48p.m. (short entry cancelled), stopped out 5.03p.m. at 1.52970, losing 18.3 pips

Euro: short 3.15p.m. (long entry cancelled), stopped out 3.42p.m. at 1.30602, losing 6.3 pips


Cable
Today’s loss: 18.3 pips
Cumulative profit: 67.2 pips

Euro
Today's loss: 6.3 pips
Cumulative profit: 42.4 pips

Overall balance
Currently +109.6 pips
 
Wednesday 5th June

Cable: high 1.53986, low 1.53374
Long entry 1.54011, TP 1.54221, TS 21 pips
Short entry 1.53349, TP 1.53169, TS 21 pips

Euro: high 1.31167, low 1.30602
Long entry 1.31192, TP 1.31372, TS 18 pips
Short entry 1.30577, TP 1.30397, TS 18 pips
 
Wednesday’s results

Cable: long 4.06p.m. (short entry cancelled), stopped out 4.19p.m. at 1.53824, losing 18.7 pips

Euro: no trade triggered today, both orders expired at 5.00p.m.


Cable
Today’s loss: 18.7 pips
Cumulative profit: 48.5 pips

Euro
Today's loss: 6.3 pips
Cumulative profit: 42.4 pips

Overall balance
Currently +90.9 pips
 
Still looking good at +90, I like your idea of a trailing stop, it's keeping your losers down to a minimum, I was considering a trailing stop of 1.5 of my risk but placing a s/l at 1:1 still just incase the whole thing runs against me, but it get all messy. At the moment i've just got to put up and go. In a few weeks i'll be able to mange the London break much better. Your journal is fully helpful, I was looking at a way to tackle the london close, Shirley Hudson's way as far as I can tell is based on the pullback method, but again it's not really a set and forget method.

Good Pips to you for Thursday (y)
 
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