Simple journal

[Andy4444]

Hello

Week 5

Starting capital £8,250.00

Prev Balance £9,231.60

Current Balance £9,358.89

This xmas week has been a stop start kind of week for me, and I actually forgot that markets closed early meaning I didn't close out open positions beforehand...silly me!

A a result needless to say, the weeks results are not too impressive, but still ended up in in profit anyway.

Now that overall profit has increased over £1,000.00 since the start of this journal, I will be increasing my standard lot size from 0.1 to 0.2 in the forthcoming week.

A

 

[Andy4444]

Hello

It's been a bit of a tipsy-turvy week for me as no doubt a few have probably found also, especially the early part of the week in my case where I took a few hits.

No matter, I stuck to my guns and have got into a profitable position for the week thus far now.

I have a number of trades currently in progress, and one or two waiting to trigger. I've attached a UJ h4 chart with one of those that interests me. This may not trigger my buy orders and it may well leave the station without me on board, but either way it it looks well primed so far as I am concerned.

A

http://www.trade2win.com/boards/attachment.php?attachmentid=211474&stc=1&d=1451476134

 

[Forexmospherian]

Hello

It's been a bit of a tipsy-turvy week for me as no doubt a few have probably found also, especially the early part of the week in my case where I took a few hits.

No matter, I stuck to my guns and have got into a profitable position for the week thus far now.

I have a number of trades currently in progress, and one or two waiting to trigger. I've attached a UJ h4 chart with one of those that interests me. This may not trigger my buy orders and it may well leave the station without me on board, but either way it it looks well primed so far as I am concerned.

A

http://www.trade2win.com/boards/attachment.php?attachmentid=211474&stc=1&d=1451476134

Hi Andy

WD on your first month and I wish you all the best for 2016

With regards to the UJ - yes its been bullish this week for me - but so slow and I have always preferred trading the EJ or GJ rather than the UJ on an short term basis - simply due to the larger moves

This morning its been a lovely buy set up on my set up from after 6 00 am and the London Open at 8 00 am UK time

I gather you are hoping for a pullback down to the 120 27 to 33 area to then take you into a buy ?

It might happen but for me atm I am hoping it does not pullback under 120 40 /43 and still carries on testing higher above 120 65 and 80.

For me it would need under 120 25 and 15 to complete drop out of day session bull bias and for me to then be looking at selling more

GL

Regards

F

 

[Andy4444]

Hi Andy

WD on your first month and I wish you all the best for 2016

With regards to the UJ - yes its been bullish this week for me - but so slow and I have always preferred trading the EJ or GJ rather than the UJ on an short term basis - simply due to the larger moves

This morning its been a lovely buy set up on my set up from after 6 00 am and the London Open at 8 00 am UK time

I gather you are hoping for a pullback down to the 120 27 to 33 area to then take you into a buy ?

It might happen but for me atm I am hoping it does not pullback under 120 40 /43 and still carries on testing higher above 120 65 and 80.

For me it would need under 120 25 and 15 to complete drop out of day session bull bias and for me to then be looking at selling more

GL

Regards

F

Hi F

Yes, the train may have already left without me, and your bull run may well continue as is.

I would like to see a pull back of course to trigger into longs also, but that doesn't always happen, but I don't need it to happen all the time, just enough of the time and whereby I know that I will have got a good entry price.

But each to their own style I always say....if its profitable, then that can never be a bad style no matter what system a trader uses.

For the purpose of this journal, i am looking for efficiency and simplicity. I have not fully convinced myself of achieving either at present, but obviously the signs are encouraging as it stands according to the positive balance and consistency since I started.

It's still early days of course, and I reckon I'm about half way to finishing what I set out to do, and then I'll be in a much better position to decide whether the books suggest it is viable to trade this method live or not.

We shall see in time

A

 

[Andy4444]

Hello

I've had a pretty good run the last couple of days across a number of pairs after that shaky start at the beginning of the week.

Here's a 4h GBP/CHF long trade I'm involved in. I've already taken the lions share off the table and have this remaining position ongoing to be either stopped out in profit or to reach the target.

A

http://www.trade2win.com/boards/attachment.php?attachmentid=211596&stc=1&d=1451557447

 

[Andy4444]

Hello,

The account once again grew this week, which was not looking likely after I took a heavy hit on Monday.

To be honest, this time of year really isn't the ideal trading time of course with thin volumn creating unpredictable spikes., and that needs to be factored in more so than usual until markets have settled down properly over the next week or so.

Week 6

Starting capital £8,250.00

Prev Balance £9,358.89

Current Balance £9,920.01

A

 

[MajorMagnuM]

Hi F

Yes, the train may have already left without me, and your bull run may well continue as is.

I would like to see a pull back of course to trigger into longs also, but that doesn't always happen, but I don't need it to happen all the time, just enough of the time and whereby I know that I will have got a good entry price.

But each to their own style I always say....if its profitable, then that can never be a bad style no matter what system a trader uses.

For the purpose of this journal, i am looking for efficiency and simplicity. I have not fully convinced myself of achieving either at present, but obviously the signs are encouraging as it stands according to the positive balance and consistency since I started.

It's still early days of course, and I reckon I'm about half way to finishing what I set out to do, and then I'll be in a much better position to decide whether the books suggest it is viable to trade this method live or not.

We shall see in time

A

this gu long must be killing your efficency. are you going to reduce stop size in future?

 

[Andy4444]

this gu long must be killing your efficency. are you going to reduce stop size in future?

That GU long you refer to is history

May I suggest you read what has been said more carefully in future because you have been confused on more than one occasion.

 

[MajorMagnuM]

That GU long you refer to is history

May I suggest you read what has been said more carefully in future because you have been confused on more than one occasion.

yes. im confused as i cant work out what method you use to set r/r. I will check your history as i must have missed where you closed the gu long

 

[MajorMagnuM]

That GU long you refer to is history

May I suggest you read what has been said more carefully in future because you have been confused on more than one occasion.

Ive gone thru you posts on this journal with more dilligence and found the following
post 10 says but “this journal is only focussing on this strategy for now which involves only what i have on the chart as seen. “
. You go on to say “but for now this set up is what matters for this particular journal. “
I have read John Bollingers Book but unfortunately I am unable to see from the chart what your specific trading strategy is; could you highlight what I’m not seeing? (chart 1)

I see on post 11 that Timsk is equally keen to know more. I see in post 11 you say price action, but it cant be just that as the GU long you took later on in thread would not have presented itself on h4 from price action alone. Could you elaborate on what the BB and MA do to further support your trade decisions? I would love to know how to use them better as I put a lot of time into them but did not experience any consistency using them, whichever approach I took with them. Also, how do you decide on what is a good price to add on further orders?
Ok I see on post 14 some description of trade management. I m confused as to why you do the stated:

“and I only make adjustments to stops and tps once initial target is made. If stopped ok, I'm stopped, but until then I'm still in the trades, and my philosophy keeps any temptation to tinker at bay. “

when actuallly PA would have got you out of the GU long and instantly increased your efficiency, which is one stated aim of the journal?

Post 20 I found the answer I missed first time around.
“then I will be happy to fully detail what I have ended up with as a final strategy and my personal mm style “
On tenter hooks for this info but would still be interested to know more on how you are taking trades in this formative period for this new strategy, as approaches in developing strategy would make interesting/ alternative learning/reading than the application of a pre formed one

 

[Andy4444]

Hello all

My journal here is designed as a brief record of where I am with this strategy.

It is an ongoing exersise at present, with small changes here and there and I anticipate it will be concluded in 4-6 weeks or so, at which point I have stated that I would detail my general approach using this strategy, and for now that is still the case.

I have no intention of being drawn into discussion concerning how I am making decisions at this stage, and as stated, I am letting the account balance tell me whether I am heading in the right direction or not.

If results continue to be satisfactory at the end of the trial period, then I may open a thread as opposed to a journal against a live account, and with which open discussion would then be acceptable.

Until then I will persevere with this journal.

I hope that is clear to everyone

A

 

[Andy4444]

Hello

Here is a short GBP/CHF trade just triggered off the h1 chart.

The essential strategy is the same but I have changed the colours for further clarity to me, and added an RSI which may provide a further sense of direction, I will see how that goes for now before deciding whether to retain it or not in the final set-up.

As usual, ongoing tuning is needed, but it is now getting close to what I wanted to achieve originally. Positive overall results will always be the deciding factor though, and anything less would mean that I'm barking up the wrong tree.

A
http://www.trade2win.com/boards/attachment.php?attachmentid=211992&stc=1&d=1451988214

 

[Andy4444]

Hello

It was another profitable week, 7 in a row.

I have enough confidence in this approach now and have decided to now trade this live for small positions for the time being to see how it fairs in real conditions.

The journal did what I wanted it to do ie to allow me to monitor and confirm my weekly progress using the balance as my guide as to whether it was viable or not.

I'll maybe check back in in a month or so, but given the lack of constructive ideas or comments thus far within this journal (as is ones chioce), I may choose to quietly trade away without further imposing on anyones time here.

Bye for the time being

A

 

[MajorMagnuM]

Hello

It was another profitable week, 7 in a row.

I have enough confidence in this approach now and have decided to now trade this live for small positions for the time being to see how it fairs in real conditions.

The journal did what I wanted it to do ie to allow me to monitor and confirm my weekly progress using the balance as my guide as to whether it was viable or not.

I'll maybe check back in in a month or so, but given the lack of constructive ideas or comments thus far within this journal (as is ones chioce), I may choose to quietly trade away without further imposing on anyones time here.

Bye for the time being

A

i think the comment


"I have no intention of being drawn into discussion concerning how I am making decisions at this stage, and as stated, I am letting the account balance tell me whether I am heading in the right direction or not."


was read by others as" please dont ask or suggest anything else", which was respected? maybe im just confused again. Does this mean we will not get to see the stratgey development?