Coastalfx Journal

[mytwopips]

Originally Posted by coastalfx

We had no new trades today. Currently we are floating losses from the
trades yesterday. I am not really concerned about that. 2 of our 5 new
trades yesterday had their Buy Stop or Sell Stops triggered.

My internet connection was
down for some unknown reason this am. However, that is the beauty of this
trading system. You don't have to sit in front of your computer every
moment you have an open trade.

Have a great day,
Jackie

Seems many currencies are resting. Maybe next week will show some action. Keep up your thread. I don't show much interaction on it, but follow along all the time.

[coastalfx]

Originally Posted by Piphacker

You seems to me a swing trader...Normally i saw lot of swing traders trading through moving averages. You are one of them??
PipHacker!!!

The simple verson of my strategy is this...

I trade mainly from dailys but do look at weekly and monthlys for further confirmation of the larger trends. I use approx. 2 percent of my account on each trade. I place buy stop or sell stop orders in the direction of the larger trends. I place trades using round numbers like 25, 50, 75, 00.

(this is the rule that I broke yesterday) I place trades only after I have seen at least one full daily bar that is complete going in the direction of the trades I am placing.

I place every trade with a 50 pip trailing stop and I use a 1000 pip stop/loss on each trade. After a trade has run over 100 pips in profit, I adjust my trailing stop to 50 precent of the gains in the trade.

Hope that helps, piphacker.

Thanks for the questions,
Jackie

[coastalfx]

Originally Posted by mytwopips

Seems many currencies are resting. Maybe next week will show some action. Keep up your thread. I don't show much interaction on it, but follow along all the time.

Thanks for the encouragement to keep posting. I greatly appreciate it my friend!

Jackie

[coastalfx]

We are not placing any new trades yet. We have 3 open trades right
now AUD/USD, EUR/USD, and USD/CHF. All pairs are back in a countertrend
movement right now.

We will be watching on the sidelines and waiting for our current
trades to turn around.

Happy Friday,
Jackie

[coastalfx]

We are starting another day in the amazingly lucrative world of Forex
trading. We have no new trades today. One look at the chart shows a
pull back on all major pairs which indicates a possible reversal coming
of the current counter trend. We will continue to watch the charts
to see if this is correct over the next day or two.

Have a great day,
Jackie

[coastalfx]

Still primarily in a countertrend accross all pairs. I did adjust
the sell stop on USD/CAD to 1.0175.

GBP/USD, hit it's buy stop yesterday but then almost immediately
pulled back for a small loss.

We are back in a waiting game. AUD/USD, EUR/USD, GBP/USD, USD/CHF,
all have small floating losses. We are just waiting and watching for
the turn around in each of these trades.

Have a good day,
Jackie

[coastalfx]

There are no new trades today. Our Sell Stop on USD/CAD was picked
up yesterday. However that trade reversed shortly after it opened.
All five pairs have floating losses right now and are expected to
resume the larger daily trend at some point so we will wait and watch.

Stay Tuned,
Jackie

P.S. If you ever have any questions about our trades or about Forex
in general don't hesitate to ask.

[coastalfx]

We are now into profit on two of our current 5 trades. USD/CAD, is
about 35 pips in profit. Our trailing stop will go into place when
we are 50 pips into profit. Also GBP/USD is about 30 pips into profit.

USD/JPY is still not opened yet. We will continue to watch this pair.

If the market continues in this current general direction we will
make some profits in the next day or two.

Have a great day,
Jackie

[coastalfx]

USD/JPY is still unopened for us. We have the same Sell/Stop in place
from a couple of days ago. We are watching the charts but have no
real confirmation that the downward trend has continuted. When the
downward trend on that pair resumes we will probably adjust that
Sell/Stop unless it gets hit first which I think is unlikely.

The other 5 pairs are all open with 3 of them having sizable gains.
Our Trailing Stops have been triggered on all 3 pairs locking in about
58 pips for us so far. So that will be on top of the 289 pips we have
from earlier this month.

Slow and steady wins the race every time!

Collecting pips,
Jackie

[coastalfx]

It's all about the pips. Two of our trades EUR/USD and GBP/USD were
both stopped out for 93 pips profit. That brings our total monthly
Pip profit to 391 pips. Slow and steady wins the race every time.
Due to the pull back in each pair. We have no new trades. Our AUD/USD
and USD/CHF are still open and floating loses, which of course is
normal.

In the last 7 weeks we have earned about 6% on our account balance. If we keep this up we will potentially earn over 40% return on our money by years end.

Of course anything can happen. When one of our stop/losses get hit
and it will at some point that will dramatically decrease our overall
returns. It is fair to say that we are definitely on track to hit our
minimium goal of 20% annual returns.

Happy trading,
Jackie