Trading Accumulation - Distribution

[tycoon83]

Wow isn't time flying! onto the 6th week of trading now. Sorry i didn't post las week but I wasn't trading for two reasons, 1) work issues not giving me enough time and and a busy week for news with non farm payroll too, so i decided to stay flat for the week. A quick summary of results so far.

Week 1= -1% Loss
Week 2= -2% Loss, (1 Trade Loss) Total -3%
Week 3= 0%. (2 Trades, 1 Win 1 Loss) Total -3%
Week 4= +1% (2 trades, 2 wins) Total -2%
Week 5= 0% (0Trades) Total -2%

Good luck everyone with their trading this week, will hopefully find something this week.

Patience Pays

[tycoon83]

No trades last week

update of results

Week 1= -1% Loss
Week 2= -2% Loss, (1 Trade Loss) Total -3%
Week 3= 0%. (2 Trades, 1 Win 1 Loss) Total -3%
Week 4= +1% (2 trades, 2 wins) Total -2%
Week 5= 0% (0Trades) Total -2%
Week 6= 0% (0 Trades) Total -2%

[tycoon83]

I might have just missed a trade, i've set an order to go short at 1.5702 on the cable with a 20pip stop. Rules have been met but it seems i may have missed the trade by an hour or two.

Criteria met:
Overbought on Williams %R
Divergence on A/D and Cable
Turtle Soup
Also at a larger 79% OTE for a down move (using the high of 27/7/12 down to the low on 2/8/12)-See chart at the bottom.


Please see chart below for set up. I will leave my order open for an hour after that i will close it out.
My order is for a small position of 1%.

Things i don't like about this trade:
Its a Monday
Its NYO ( I prefer LO)
There's no SMT between cable and fiber

[PureMuscle]

I might have just missed a trade, i've set an order to go short at 1.5702 on the cable with a 20pip stop. Rules have been met but it seems i may have missed the trade by an hour or two.

Criteria met:
Overbought on Williams %R
Divergence on A/D and Cable
Turtle Soup
Also at a larger 79% OTE for a down move (using the high of 27/7/12 down to the low on 2/8/12)-See chart at the bottom.


Please see chart below for set up. I will leave my order open for an hour after that i will close it out.
My order is for a small position of 1%.

Things i don't like about this trade:
Its a Monday
Its NYO ( I prefer LO)
There's no SMT between cable and fiber

Maybe not missed bro

[tycoon83]

yep i'm in bro! at 1.5702. Don't you always wish you set the order a little higher or lower. i'm thinking i should have gone with 1.5705 or 1.5710 lol. only got a 20pip stop loss on this one so i hope its enough. i'll keep you posted.

[tycoon83]

yep i'm in bro! at 1.5702. Don't you always wish you set the order a little higher or lower. i'm thinking i should have gone with 1.5705 or 1.5710 lol. only got a 20pip stop loss on this one so i hope its enough. i'll keep you posted.

long and slow at the moment, not sure if i will hold or exit in London Open yet, so far half off at 20pips. Looking at the asian range low of today (Monday) as my exit from tomorrow

[tycoon83]

long and slow at the moment, not sure if i will hold or exit in London Open yet, so far half off at 20pips. Looking at the asian range low of today (Monday) as my exit from tomorrow

I was stopped out on the other half at break even, giving me a total of 1/2 % profit.

I have re=entered at 1.5706, which is an OTE from the high of yesterday down to the session low last night. I waited for SMT divergence between cable and fiber for confirmation and entered, hoping this is a continuation of yesterday. I also noticed that while the Fiber took out yesterdays high it also ran into the sweet spot on a larger OTE, i wasn't sure if it would take out the highs from 8/9/12 too but taking out yesterdays high was enough confirmation for me.


EDIT: i forgot to mention, i'm risking another 1% and my stop is 25pips

[tycoon83]

hey guys i didn't like the way the trade was going so i exited the trade at 10pips profit, giving me another 1/2% for the week with a total of 1% profit so far this week.

Not sure if it was the right or wrong thing to do but when in doubt its better to be out ;-)

I may sit on the side lines for a bit till things become more clear for me.

[northerntouch101]

Tycoon,

I applaud not only your transparency, but your ability to stay the course. Seeing as how you drill down to the 15min to refine entries, I thought I would make a suggestion.

Go back through your charts and identify where the A/D (or any indicator for that matter) puts in a divergence, and then CONFIRM it with an SMT divergence or USDX divergence. Only pay attention to the price action where BOTH divergences occur.

You may be interested in what you find.

Cheers,

NT

[tycoon83]

Tycoon,

I applaud not only your transparency, but your ability to stay the course. Seeing as how you drill down to the 15min to refine entries, I thought I would make a suggestion.

Go back through your charts and identify where the A/D (or any indicator for that matter) puts in a divergence, and then CONFIRM it with an SMT divergence or USDX divergence. Only pay attention to the price action where BOTH divergences occur.

You may be interested in what you find.

Cheers,

NT

thanks for the kind words NT.

I have done a little manual back testing but not with the the SMT or USDX divergence as well. will defo do that!

cheers buddy