If you're naturally bearish cable, i think you have to be even more aussi bearish.
Attachments
SH-101
Well-known member
- Messages
- 390
- Likes
- 29
I would have been rather nicely annihilated on that one as it transpires - maybe I'll stick to talking about the trades I actually will place 😆
SH-101
Well-known member
- Messages
- 390
- Likes
- 29
Stopped out of cable for a -5% loss - I'm not in particularly good form at the moment! 🙄
Order placed nonetheless to sell EUR/CHF at 1.3979, if-done stop 1.4048, if-done limit 1.3854.
2.5% risk because otherwise, if this trade goes tits-up too I will have exceeded my loss limit for the month.
Order placed nonetheless to sell EUR/CHF at 1.3979, if-done stop 1.4048, if-done limit 1.3854.
2.5% risk because otherwise, if this trade goes tits-up too I will have exceeded my loss limit for the month.
B
Black Swan
IMHO it's been an odd month for swinging (so far), I've made more playing forex scratchcards ( playing E/U off tick chart to relieve boredom whilst waiting for set ups) than I have from *proper* moves...
SH-101
Well-known member
- Messages
- 390
- Likes
- 29
EUR/CHF order filled a while ago - the setup saw an overall downtrend on daily/weekly as indicated by 60sma and 20ema crossed down and sloping down.
Both hidden and regular divergence present on the 4h chart with resistance provided by the daily 20ema and a key fib level. It is also bouncing from an area which previously held support back in mid-May.
Both hidden and regular divergence present on the 4h chart with resistance provided by the daily 20ema and a key fib level. It is also bouncing from an area which previously held support back in mid-May.
Attachments
SH-101
Well-known member
- Messages
- 390
- Likes
- 29
Not been an easy one that's for sure - I've rejected plenty of setups this month on the grounds of them not quite being good enough. Things struggling to fall into place it seems.
I've been tempted to drop back into day-trading this month just for practice more than anything but it does my head in after about 5 minutes so the exercise never got very far 😆
SH-101
Well-known member
- Messages
- 390
- Likes
- 29
EUR/CHF hit target this morning - was kinda hoping I'd be out before the SNB rates this morning but fortunately when the fundamentals hit, the market traded the way the technicals had already suggested 😛
This trade produced a gain of 4.2% after 2 day's rollover, leaving me now 3.3% down for the month. Had I traded this EUR/CHF at full 5% risk I'd now be marginally ahead for the month, but then again it could just have easily gone the other way and I'd now be looking at a loss of 12.5% for the month, which would be unacceptable really, so discipline was still the right call here.
I probably won't get the chance to get into profit this month as it looks like I'm off to Wales for a few days at the end of this week, then I'm off to NYC for a few days late next week, so unless I'm very lucky with the timing my next trading will be in July...
This trade produced a gain of 4.2% after 2 day's rollover, leaving me now 3.3% down for the month. Had I traded this EUR/CHF at full 5% risk I'd now be marginally ahead for the month, but then again it could just have easily gone the other way and I'd now be looking at a loss of 12.5% for the month, which would be unacceptable really, so discipline was still the right call here.
I probably won't get the chance to get into profit this month as it looks like I'm off to Wales for a few days at the end of this week, then I'm off to NYC for a few days late next week, so unless I'm very lucky with the timing my next trading will be in July...
Last edited:
SH-101
Well-known member
- Messages
- 390
- Likes
- 29
Just wanted to mention that this thread isn't dead - I'll still be posting the odd swing trade "as and when", but for now I've been diverted by some R&D into a considerably different approach - you may see me pop up on the "forex live calls" thread quite soon as I move into a new phase of testing.
advfntrader
Established member
- Messages
- 739
- Likes
- 66
SH, is this approach not making you enough ?
SH-101
Well-known member
- Messages
- 390
- Likes
- 29
It does me just fine mate - but I'm not so good at sitting still - I don't think there's a trader on earth who can't improve what he/she does so I'm always looking to find interesting new ways to trade.
While I'll always swing trade the way I do as I enjoy it, I'm currently also focusing on mechanical intraday systems that I might one day be able to automate. It's almost certainly a pipe dream, especially for someone like me with no more than a GCSE in maths, but the thought of being able to switch on my computer monday morning and come back friday afternoon to see how much money I've made is something worth striving for 👍
You could do that now though, couldn't you?
Your method seems fairly mechanical...couldn't you just pay someone to code and automate it and then you could do as you say??
Anyway, good thread, and im looking forward to your intrday trading when it begins. I've got a feeling you'll do well
Your method seems fairly mechanical...couldn't you just pay someone to code and automate it and then you could do as you say??
Anyway, good thread, and im looking forward to your intrday trading when it begins. I've got a feeling you'll do well
SH-101
Well-known member
- Messages
- 390
- Likes
- 29
Not every aspect of my approach is revealed on this thread - There's a fair amount of judgement by eye and interpretation to the whole thing with divergence, fibs etc. I'm a reasonably proficient coder myself but I haven't got the first clue how I'd go about programming those aspects 😱
SH-101
Well-known member
- Messages
- 390
- Likes
- 29
Order placed to sell EUR/CHF at 1.3373, if-done stop 1.3498, if-done limit 1.3128.
2.5% risk as even though I did well out of it last time, EUR/CHF is still a dodgy market to trade at the moment, you never know when the next "SNB spike" is coming 😆
2.5% risk as even though I did well out of it last time, EUR/CHF is still a dodgy market to trade at the moment, you never know when the next "SNB spike" is coming 😆
SH-101
Well-known member
- Messages
- 390
- Likes
- 29
BTW This will hopefully be the first and only time this happens but in truth I have already traded this month, have to hold my hand up and say that I simply forgot to post to this journal as I've been ultra-busy with other work at the moment. Anyone who's read this journal regularly will know that I always endeavour to post my entries before they happen, so this is an aberration that I'll try not to repeat!
Anycase, I've been long cable for a couple of days as this account screenshot shows. Stop is currently at break-even on the long from 5088. Target is 5416. Although each entry has an S next to it (as in sold), that refers to the closing of the trade each day for rollover purposes: I bought at 5088, sold at 5088. This rolled over into a buy at 5091 which was sold 5204, this then rolled into a buy at 5204 that was sold 5269. Today's rollover has me in long from 5269 as well so I've been quite lucky with rollover thus far on on this trade.
Ignore the USD/JPY trade - that was me pissing about 😆
FWIW Finspreads is not the only broker I use, I also use IG and am considering opening another account too so as to keep eggs in a reasonable number of baskets should any broker happen to go tits-up and take my money with them...
Anycase, I've been long cable for a couple of days as this account screenshot shows. Stop is currently at break-even on the long from 5088. Target is 5416. Although each entry has an S next to it (as in sold), that refers to the closing of the trade each day for rollover purposes: I bought at 5088, sold at 5088. This rolled over into a buy at 5091 which was sold 5204, this then rolled into a buy at 5204 that was sold 5269. Today's rollover has me in long from 5269 as well so I've been quite lucky with rollover thus far on on this trade.
Ignore the USD/JPY trade - that was me pissing about 😆
FWIW Finspreads is not the only broker I use, I also use IG and am considering opening another account too so as to keep eggs in a reasonable number of baskets should any broker happen to go tits-up and take my money with them...
