CHF/JPY long triggered
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http://www.trade2win.com/boards/attachment.php?attachmentid=206830&stc=1&d=1448290594
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http://www.trade2win.com/boards/attachment.php?attachmentid=206830&stc=1&d=1448290594
Your post is clear and make sense to me.
You do not have to prove anything to anyone but yourself. We are all different and we all need to find our own way and I strongly believe that is the only way.
As you know I also have a journal and I find if very useful for my own purposes, if others find something useful for themselves the better.
Number of pips as you said mean nothing for me as well, I focus my trading on increasing volume instead.
Your thread looks interesting to me, I will be following.
Fugzs.
GU...buy limit orders placed. May not trigger of course, but if it does then I know I will have a good entry price at least.
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http://www.trade2win.com/boards/attachment.php?attachmentid=206962&stc=1&d=1448377462
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http://www.trade2win.com/boards/attachment.php?attachmentid=206962&stc=1&d=1448377462
Attachments
USD/CHF is closing in on my sell limit orders that I placed earlier in the week.
Daily chart attached
http://www.trade2win.com/boards/attachment.php?attachmentid=207268&stc=1&d=1448538547
Daily chart attached
http://www.trade2win.com/boards/attachment.php?attachmentid=207268&stc=1&d=1448538547
Attachments
Last edited:
Hello
Nothing significant happened to my demo account last week.
I started this jounal with a balance of £8,250..00
Ii now stands at £8,150.64, which means there was little change to it during this weeks completed trades, some won, some lost.
I shall continue along the same theme this week, ie using 0.1 lots as my standard for this exersise, and hard stops and t/ps for the initial part of my orders and shall continue to report on the balance against completed trades at the end of the week nevertheless. My intention is to do this for approximately 10 weeks or so, and simply use the balance sheet to measure it's effectiveness, which keeps things simple.
My objective, is to arrive at a strategy that is obviously ultimately profitable, but equally important to me is keeping it simple, and to avoid any temptation of adding too many indicators that we see on so many charts.
For me using this particular strategy, price, and s&r levels/areas are the key, and then supported by the bands, and if all of those match my criteria, then I consider entries, either pending or market orders.
I'll post orders and a chart when they occur if I get the chance during the week.
That's all for the time being
A
Nothing significant happened to my demo account last week.
I started this jounal with a balance of £8,250..00
Ii now stands at £8,150.64, which means there was little change to it during this weeks completed trades, some won, some lost.
I shall continue along the same theme this week, ie using 0.1 lots as my standard for this exersise, and hard stops and t/ps for the initial part of my orders and shall continue to report on the balance against completed trades at the end of the week nevertheless. My intention is to do this for approximately 10 weeks or so, and simply use the balance sheet to measure it's effectiveness, which keeps things simple.
My objective, is to arrive at a strategy that is obviously ultimately profitable, but equally important to me is keeping it simple, and to avoid any temptation of adding too many indicators that we see on so many charts.
For me using this particular strategy, price, and s&r levels/areas are the key, and then supported by the bands, and if all of those match my criteria, then I consider entries, either pending or market orders.
I'll post orders and a chart when they occur if I get the chance during the week.
That's all for the time being
A
Hello
Week 2
An improved weeks trading as of today. All my positions are now closed, and I''ll step aside from the NFP trading today.
The account now stands as follows:
Starting capital £8250.00
Current balance £8475.11
Granted, it's not dramatic at this stage, but it's now heading in the right direction, what more can be expected for now. I'm still tweaking as I go, nothing major, just small adjustments here and there. I'd imagine after another 10 weeks or so that it may look quite different from the initial set-up, but that will be the result of accumulated adjustments over this period of time. My goal nevertheless is to tweak and trade gradually, and then to see the effect it has on my balance on a weekly basis, as I personally believe that that is all that matters, and that there is no better way to measure performance than whats in the bank!
For that reason, I see no real advantage in illustrating the changes until I am satisfied that the results are of a consistent enough nature to make it worthwhile to post charts, at which point I'll post my final strategy for those interested.
That's it for now
A
Week 2
An improved weeks trading as of today. All my positions are now closed, and I''ll step aside from the NFP trading today.
The account now stands as follows:
Starting capital £8250.00
Current balance £8475.11
Granted, it's not dramatic at this stage, but it's now heading in the right direction, what more can be expected for now. I'm still tweaking as I go, nothing major, just small adjustments here and there. I'd imagine after another 10 weeks or so that it may look quite different from the initial set-up, but that will be the result of accumulated adjustments over this period of time. My goal nevertheless is to tweak and trade gradually, and then to see the effect it has on my balance on a weekly basis, as I personally believe that that is all that matters, and that there is no better way to measure performance than whats in the bank!
For that reason, I see no real advantage in illustrating the changes until I am satisfied that the results are of a consistent enough nature to make it worthwhile to post charts, at which point I'll post my final strategy for those interested.
That's it for now
A
Hello
This week I have a number of pending orders placed off of the weekly charts. I don't expect all to trigger at the price that I want, but 1 or 2 should which is all that I need.
I've made some slight changes to my set-up to try to creep ever closer to an optimum strategy, keeping it as simple as possible, whilst still trying to maintain the core essentials that I'm interested in seeing, and all of this is a slow and ongoing process of course which requires plenty of patience and discipline, 2 key qualities every trader must have imo.
As usual, I will post completed results at the weeks end.
I attach a couple of weekly charts with my pending orders for anyone interested
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http://www.trade2win.com/boards/attachment.php?attachmentid=208380&stc=1&d=1449492305
http://www.trade2win.com/boards/attachment.php?attachmentid=208382&stc=1&d=1449492398
This week I have a number of pending orders placed off of the weekly charts. I don't expect all to trigger at the price that I want, but 1 or 2 should which is all that I need.
I've made some slight changes to my set-up to try to creep ever closer to an optimum strategy, keeping it as simple as possible, whilst still trying to maintain the core essentials that I'm interested in seeing, and all of this is a slow and ongoing process of course which requires plenty of patience and discipline, 2 key qualities every trader must have imo.
As usual, I will post completed results at the weeks end.
I attach a couple of weekly charts with my pending orders for anyone interested
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http://www.trade2win.com/boards/attachment.php?attachmentid=208380&stc=1&d=1449492305
http://www.trade2win.com/boards/attachment.php?attachmentid=208382&stc=1&d=1449492398
Attachments
Hello
Week 3
Starting capital £8.250.00
Prev Balance £8,475.11
Current Balance £8,898.30
So it was another gain this week, not huge by any stretch of the imagination, but consistent enough.
Further minor tweaking is ongoing. I'll post a couple of charts early in the week.
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Week 3
Starting capital £8.250.00
Prev Balance £8,475.11
Current Balance £8,898.30
So it was another gain this week, not huge by any stretch of the imagination, but consistent enough.
Further minor tweaking is ongoing. I'll post a couple of charts early in the week.
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Hello
There are a number of pairs that interest me this week of which AJ is one of them and seems to be laying in an area to consider a long entry at some stage in the week. I will be monitoring that pair plus others to time my entry when I see PA confirming my suspicion that price is likely to climb.
H4 chart attached
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http://www.trade2win.com/boards/attachment.php?attachmentid=209330&stc=1&d=1450014497
There are a number of pairs that interest me this week of which AJ is one of them and seems to be laying in an area to consider a long entry at some stage in the week. I will be monitoring that pair plus others to time my entry when I see PA confirming my suspicion that price is likely to climb.
H4 chart attached
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http://www.trade2win.com/boards/attachment.php?attachmentid=209330&stc=1&d=1450014497
Attachments
Hello
AC short has triggered off the h4 chart attached
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http://www.trade2win.com/boards/attachment.php?attachmentid=209472&stc=1&d=1450096200
AC short has triggered off the h4 chart attached
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http://www.trade2win.com/boards/attachment.php?attachmentid=209472&stc=1&d=1450096200
Attachments
GU long has triggered off the h4 chart attached
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http://www.trade2win.com/boards/attachment.php?attachmentid=209480&stc=1&d=1450098376
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http://www.trade2win.com/boards/attachment.php?attachmentid=209480&stc=1&d=1450098376
Attachments
Hello
Week 4
Starting capital £8.250.00
Prev Balance £8,898.30
Current Balance £9,231.60
A satisfactory weeks overall gain.
Whilst I am fairly happy with the consistent gains over the last 4 weeks, I nevertheless know that I can improve the overall performance, and with that in mind, my aim now is to reduce the number of losing trades, which is currently putting a dent into the profits made.
I'm loathe to add more indicators, because at this point I believe it is more of a mm issue rather than signal identification, and on that basis I will now be more discerning on both my entries and take profit targets instead for the time being.
As usual, I can't be certain whether or not that that is the only reason for incurring losses but that is my starting point, and if no significant improvements to the account are made, then as a last resort I may consider another means to filter via an indicator, but I must stress that indicators cannot tell the future, and can only indicate what the price chart is already showing, so I can't see any advantage to using "second-hand" information (at this point).
Millions of others I know disagree, and that is evident by the plethora of indicators we see on so many charts. Personally, I prefer minimal indicators and let the price tell me what is going on, but I appreciate everyones different.
Let's see how the next few weeks go.
A
Week 4
Starting capital £8.250.00
Prev Balance £8,898.30
Current Balance £9,231.60
A satisfactory weeks overall gain.
Whilst I am fairly happy with the consistent gains over the last 4 weeks, I nevertheless know that I can improve the overall performance, and with that in mind, my aim now is to reduce the number of losing trades, which is currently putting a dent into the profits made.
I'm loathe to add more indicators, because at this point I believe it is more of a mm issue rather than signal identification, and on that basis I will now be more discerning on both my entries and take profit targets instead for the time being.
As usual, I can't be certain whether or not that that is the only reason for incurring losses but that is my starting point, and if no significant improvements to the account are made, then as a last resort I may consider another means to filter via an indicator, but I must stress that indicators cannot tell the future, and can only indicate what the price chart is already showing, so I can't see any advantage to using "second-hand" information (at this point).
Millions of others I know disagree, and that is evident by the plethora of indicators we see on so many charts. Personally, I prefer minimal indicators and let the price tell me what is going on, but I appreciate everyones different.
Let's see how the next few weeks go.
A
Forexmospherian
Legendary member
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- 39,928
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- 3,306
Hi Andy
First of all - Well Done - your account is going the right way and you have made a good increase already.
Nothing wrong with a simple method - and so far you way as not given just simple results - but as far as I am concerned above normal for many swing traders
I would have to disagree with you with regards the part of the comment I have underlined.
I am sure you have heard of "leading indicators" - ie for example - divergence off oscillators - trendline extensions - time and existing levels ( my favourite for intraday ) and of course one far more important than just Price Action - that is Price structure
I would agree maybe 90% + of all normal indicators are not leading but following and suffer with lag etc but there are some that have a special "edge" and so when set up correctly and used by experienced traders can assist with choosing higher probability trades
All the best over the next 4 weeks and Good Trading
Regards
F
Hi F
Yes simplicity is what I'm striving for and that may not be so easy as it sounds.
At this moment I'm persevering with minimalistic additions to the price itself, but as I said that may need complementing with a select indicator in time.
I have noticed your set-up contains a number of lines, which to me look confusing, but no doubt you hold great faith in them, and if they are consistently successful or you then that's all that matters and there's no need to fix anything.
I also saw your comment concerning special "edge" indicators, and I'd be interested to hear from you what one(s) that you'd recommend in the event I ever decide to go down that path within this journal at some stage to increase probability. I am familiar with many indicators over the years, but they all seem to pretty much identify the same kind of thing, albeit with different parameter settings.
Thanks
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Hello,
I have a sell market order in place for AC as shown. It is more of an exploratory order at this point, still based on the criteria I look for, but just a single position for now. If the trade moves favourably then I will be looking to add further positions once I can see the evidence that some downward traction is taking hold, but until then I'll be patient with this small order in place and watch the pa before further decisions are made.
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http://www.trade2win.com/boards/attachment.php?attachmentid=210564&stc=1&d=1450706424
I have a sell market order in place for AC as shown. It is more of an exploratory order at this point, still based on the criteria I look for, but just a single position for now. If the trade moves favourably then I will be looking to add further positions once I can see the evidence that some downward traction is taking hold, but until then I'll be patient with this small order in place and watch the pa before further decisions are made.
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http://www.trade2win.com/boards/attachment.php?attachmentid=210564&stc=1&d=1450706424
Attachments
Hello
I have a selection of trades currently in progress at varying stages, I have attached some images for those interested...AN, CJ, CCHF, EC, AJ, ACHF.
With the xmas break upon us I expect to close out some if not all trades in the next day or so, or at least at a locked in stage of profit. Gaps may well occur during the break which I'm well aware of, and add that to low volumn and thin liquidity, then it is likely to create a more volatile market, so it is an even riskier time to trade than usual imo.
Anyway, here are some charts attached that I'm involved in at present.
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http://www.trade2win.com/boards/attachment.php?attachmentid=210666&stc=1&d=1450775345
http://www.trade2win.com/boards/attachment.php?attachmentid=210670&stc=1&d=1450775450
http://www.trade2win.com/boards/attachment.php?attachmentid=210672&stc=1&d=1450775450
http://www.trade2win.com/boards/attachment.php?attachmentid=210674&stc=1&d=1450775450
http://www.trade2win.com/boards/attachment.php?attachmentid=210676&stc=1&d=1450775450
http://www.trade2win.com/boards/attachment.php?attachmentid=210678&stc=1&d=1450775450
I have a selection of trades currently in progress at varying stages, I have attached some images for those interested...AN, CJ, CCHF, EC, AJ, ACHF.
With the xmas break upon us I expect to close out some if not all trades in the next day or so, or at least at a locked in stage of profit. Gaps may well occur during the break which I'm well aware of, and add that to low volumn and thin liquidity, then it is likely to create a more volatile market, so it is an even riskier time to trade than usual imo.
Anyway, here are some charts attached that I'm involved in at present.
A
http://www.trade2win.com/boards/attachment.php?attachmentid=210666&stc=1&d=1450775345
http://www.trade2win.com/boards/attachment.php?attachmentid=210670&stc=1&d=1450775450
http://www.trade2win.com/boards/attachment.php?attachmentid=210672&stc=1&d=1450775450
http://www.trade2win.com/boards/attachment.php?attachmentid=210674&stc=1&d=1450775450
http://www.trade2win.com/boards/attachment.php?attachmentid=210676&stc=1&d=1450775450
http://www.trade2win.com/boards/attachment.php?attachmentid=210678&stc=1&d=1450775450
Attachments
My EC short was stopped out for a loss, but it's still in the right kind of area and I still like it, therefore I have placed further pending shorts as per attached chart.
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http://www.trade2win.com/boards/attachment.php?attachmentid=210716&stc=1&d=1450807964
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http://www.trade2win.com/boards/attachment.php?attachmentid=210716&stc=1&d=1450807964
Attachments
Hello
A quick update on the EC pair, which is not the easiest pair to predict
As mentioned my first attempt of a short was stopped out for a loss, I then paced further pending shorts because pa still looked good, unfortunately they didn't get filledb but would have produced decent profits had they.
I killed those pending shorts, and took a double position for a long instead against the h1 chart, where an opportunity presented itself.
That has worked out favourably. I have recouped the original loss, and adjusted the stop on the remainder to a be in a free trade position now. This trade management now means there is zero risk involved this trade now and still with the chance to take healthy returns.
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http://www.trade2win.com/boards/attachment.php?attachmentid=211030&stc=1&d=1450952285
A quick update on the EC pair, which is not the easiest pair to predict
As mentioned my first attempt of a short was stopped out for a loss, I then paced further pending shorts because pa still looked good, unfortunately they didn't get filledb but would have produced decent profits had they.
I killed those pending shorts, and took a double position for a long instead against the h1 chart, where an opportunity presented itself.
That has worked out favourably. I have recouped the original loss, and adjusted the stop on the remainder to a be in a free trade position now. This trade management now means there is zero risk involved this trade now and still with the chance to take healthy returns.
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http://www.trade2win.com/boards/attachment.php?attachmentid=211030&stc=1&d=1450952285
Attachments
MajorMagnuM
Legendary member
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sorry a bit confused on this one. Do you mean you got short as after that time price only went a few up then 40 plus down, therefore favorable? or have i got the wrong part of the data?
Attachments
I''ll clarify
Post 36, I had an EC short on the posted chart...stopped out for -£32.75
Post 37, I still liked shorts, and set pending orders see the chart, which just failed to trigger, and thus I killed the POs
Post 38, the hourly chart then favoured long , and I entered a double size position at the price shown on that chart. I closed the first half for +£40.02, and the remainder for +£16.39.
Hope that clears up your confusion
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