Posted:
#426
STOP HIT.
USD/JPY First Quarter
Posted:
#434
Not a great week over here. I cant remember if I mentioned this before, but I have been tracking my trades using the EMA crosses and a few other indicators and a tight set of rules. Sticking to the rules for 100 trades, and then will tweak, and retest 100 more.
I have done pretty well, except for this week, I lost 6 pips. It would have been a much better week if I didn't get slammed by a Chinese risk event impacting the NZD. It plunged before I had a stop in place, and I took a -37 pip plunge.
Take that out of the equation and it is a mediocre 31 pip week (still lower than usual).
35 Trades in 3 weeks yielding 142 pips.
At the beginning of the week I really thought I would breach 200 this week. Not even half way yet. Still close to my stated goal of +50 pips a week.
The goal is to average +50 pips a week before I start doing full lots again. Bound to have a week like this every once in a while.
I need to figure out if there is a way to get better fills.
I have my OCO set but it executes as limit which takes precious seconds. I guess the only full proof way is to have my face on the monitor 24/7 .
I definitely set my trades and left much more often this week than I had in previous weeks.
I also need to not trade when there is any cross currency event risk, especially with AUD, and NZD on China news. That was a stupid mistake. This will definitely be an addition to the new rules.
I have done pretty well, except for this week, I lost 6 pips. It would have been a much better week if I didn't get slammed by a Chinese risk event impacting the NZD. It plunged before I had a stop in place, and I took a -37 pip plunge.
Take that out of the equation and it is a mediocre 31 pip week (still lower than usual).
35 Trades in 3 weeks yielding 142 pips.
At the beginning of the week I really thought I would breach 200 this week. Not even half way yet. Still close to my stated goal of +50 pips a week.
The goal is to average +50 pips a week before I start doing full lots again. Bound to have a week like this every once in a while.
I need to figure out if there is a way to get better fills.
I have my OCO set but it executes as limit which takes precious seconds. I guess the only full proof way is to have my face on the monitor 24/7 .
I definitely set my trades and left much more often this week than I had in previous weeks.
I also need to not trade when there is any cross currency event risk, especially with AUD, and NZD on China news. That was a stupid mistake. This will definitely be an addition to the new rules.
Posted:
#436
The only rule I have is starting trades with one lot..If I had to give a new trader advice it would be that and be patient,dont trade just for the sake of getting some action
As far as the reverse order thing I think once you've done this as long as we have you kinda got a feel for the way these pairs move..I was certain EU/JPY would bounce back up after that drop in a short time but I wasn't going to dive in if I couldn't stay up to watch.
I will be watching EU/JPY again next week would love to see this pair push back up to 144 range so I can hammer it short again..daily and weekly charts look to be topping out and I will be waiting for them when they take that last gasp!!
Posted:
#437
I will be keeping strange hours again next week..im working from 7pm to 5am Mon-Thurs but that's a good time for trading so I wont complain...for now
PIP count was just over 136 this week and I still have LB/JPY sitting on me..this pair has been a total dud compared to the moves its made recently...hoping to see a bit of a breakdown next week to get this monkey off my back!
Any pairs you guys will be keepn an eye on for next week??
As always GL next week fellas[insert handshake or cheers]
now..
Posted:
#440
Nice job buck....
haha
rick, my first rule is I have to be willing to wait a trade out, I dont like small scalps because of the high odds of being stopped out and the way the MMs whip around these pairs. I like wading into a trade and looking for a bigger hit versus going for a higher number of small small small trades.
Posted:
#442
Quote Originally Posted by bucknuts:
Its a shame we have never been able to gather more than a few constant traders/posters here, I like looking over charts with people and getting different opinions or at least trying to figure out what they are seeing..while our styles may be different our goals are the same
Its a shame we have never been able to gather more than a few constant traders/posters here, I like looking over charts with people and getting different opinions or at least trying to figure out what they are seeing..while our styles may be different our goals are the same
Yes I agree..I learned quite a bit from our discussion..not about trading but about the Forex arena..
Seems like there are 4 of us here and its been great having this more active again.
Posted:
#444
I am not sold on the short scalps, but want to give this "system" it's due trial. I think that the thought behind it has merit.
I am thinking about widening to 30/60 on the risk reward, or possibly jack it up to 30/90 with a 20 pip trailing stop after it reaches 30 positive pips. The idea is to limit losses. I am more than OK grinding out a solid 30-40 pips a week if I can do so with little variance.
I am thinking about widening to 30/60 on the risk reward, or possibly jack it up to 30/90 with a 20 pip trailing stop after it reaches 30 positive pips. The idea is to limit losses. I am more than OK grinding out a solid 30-40 pips a week if I can do so with little variance.
Posted:
#445
I know you're keeping all your data from these trades have you done things such as figure up the # of trades you missed due to stops by x amount of pips or trades you closed early and took less when more pips could've been gained using those #s mentioned above?
Watching this process will help all of us..I love it!!
Watching this process will help all of us..I love it!!
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