Fx traders challenge - 100 live trades - Page 22

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Results 211 to 219 of 219
  1. #211
    Join Date
    Feb 2017
    Posts
    224

    Thumbs up all trades at b/e and >+200pips

    now all our open trades 88, 89 and 90 are at b/e
    although i am taking a big risk to get stopped out with the eur/usd, let's see what happens

    gj is at +170 pips
    au is at +50 pips
    eu is at a megre +10 pips despite of having moved about +30pips and I believe it might be wanting to have a go at the major resistance levels stopping us out in the way reason why I have shorten my position and taken some profits while leaving the remaining at b/e

    happy trading
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  2. #212
    Join Date
    Feb 2017
    Posts
    224

    Thumbs up Challenge To Date +1,069 pips

    happy trading
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  3. #213
    Join Date
    Feb 2017
    Posts
    224

    Cool t91 usd/cad short

    we have short the usd/cad as shown
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  4. #214
    Join Date
    Feb 2017
    Posts
    224

    Default t92 short au

    back on the horse at a better price shorting the aud/usd..slightly
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  5. #215
    Join Date
    Feb 2017
    Posts
    224

    Cool Challenge To Date -Thoughts

    Hi there, I am now at trade #92 and it is time for me to reflect on what has happened and what I have learnt from all of this 100-live trades challenge.

    Trades Selection:
    I started with a simple set of rules which I amended slightly in v2.0
    In there I have 3-types of trades: direction of the inner trend line; if itl is broken then trade the "reverse crown right tip"; if itl is broken also can trade against the broken itl if there is a 4h/2h 786 candle of a large swing (this one is quite hard to explain in words). I however, have not just traded according to my rules, I traded outside all of this so really I can't say I have been "Disciplined".

    The good news is that I just re-written my rules for trading and did it so "without reading my original rules", I re-developed this from the experiences of the 100 live trades challenge "separately" and if you compared the two I have came up with the same conclusions with the exception of "one more group/type" of trades.

    I find this quite encouraging, and I hope to adhere to these 4-groups 100%

    Trades Management:
    This have been perhaps the most challenging part of all my trading strategy. One thing is to know when to enter a trade, another is to know how to manage your profits, how to set up your profits, when to move the trade to b/e to avoid doing it too early, etc etc.

    I know that the most profits I can make is when I follow the rules detailed in my strategy, "let the market swing, move your stops to the most recent hi/lo using the 2h or 4h chart, keep adding to your live trade(s) in a pyramid style until such time that the market breaks the itl and forms a contrarian signal, In other words, stay in the trade and keep pyramiding on it until the next trade in the opposite direction appears.

    Well, this is much easier "said than done" and it is certainly quite easy to do when you are "back testing"...when you are in the live trades and see that you made 300 pips and then it is starting to retrace (in the case of the gj this retracements are sometimes 100 pips or more!) then you get out only to realised that it wasn't retracing at all!

    Anyway, what I have decided to do is use the fibonacci extensions as my profit targets for the G/J. It is a good compromise for now until I become far more experienced and disciplined in following the cancel/replace method.

    Examples:
    Finally, since I am about to finish this thread, I want to make my contribution to those of you who have been following my posts. I have gotten a few nice feedback in my inbox and I thank you all of you and hope that you continue to generate profits. As such, I will attached one example chart for each of the 4-type of trades based on my redefined trading strategy (which it is not that far off from the v1.0 i might say)

    my next few posts will also be a look at the upcoming week so you all can be on the look out for the next trades....

    happy trading
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  6. #216
    Join Date
    Feb 2017
    Posts
    224

    Default Week ahead: Aud/usd -bearish

    Hi there, based on the:
    Day Chart: the au is now on a down trend. It formed a nice engulfing candle at a major resistance convergences of fibonacci's rations (38.2, 50, 61.8 and 78.6) this is why I had entered short.

    4h-Chart: After breaking the inner trend line, it went back up to form a "double top" confirming the 4h shooting star as resistance (we traded this) and proceeded to break the "outer up trend line" to move further south.

    I have re-entered my short trade, albeit a little too early, since I believe that the au has still a bit more to retrace before resuming it's down trend.

    So, I suggest to look out for a 618 or 786 + candle formation to enter short perhaps at the back of the broken outer trend line.

    I will look at adding to my existing short trade at these levels
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  7. #217
    Join Date
    Feb 2017
    Posts
    224

    Default Week ahead: Gbp/jpy -bearish

    Hi there, here it is my forecast for the GBP/JPY.
    Overall the g/j is in a down trend. The g/j likes to move around 1000 pips in each trend period and following a 1200-1300 up trend it formed a nice evening star on the daily chart at a past resistance (past doji) and ema356 levels. this happened on the 10/5 so now I am expecting it to be on a down trend for at least 2/3 of the latest up swing from 17/4 to 10/5 or around 140.40 (the 61.8% fibonnaci of this up swing). this will make the down trend of 800 pips, after that who knows...

    so, I will be looking at re-entering short as soon as it has retrace to any of the fibonacci levels (38.2 @143.40 or so) and has formed a 2h or 4h bear candle signal.

    happy trading
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  8. #218
    Join Date
    Feb 2017
    Posts
    224

    Default Week ahead: Eur/usd -bearish

    I made the mistake of reading some other experts forums and second guessing myself, therefore moving my stop to b/e "due to doubts" ....the EUR/USD had formed a nice day chart engulfing candle just 35 pips below a major resistance level (1.3000) which had broken a 4h chart inner up trend line in the process.

    I entered short, but as mentioned above, second guess myself after reading other people's opinions (which I RARELY DO! ), and ended up being stopped out at b/e...

    I was trying to wait for the weekly signal..a nice bear Harami also at this levels.

    Now I am looking to re-enter short as soon as the eu allows me too...

    The good news is that the 2h and 1h charts are showing "bull" candle signals, hopefully allowing the eur/usd to rally up once more and giving me a close to my original short entry....

    all in all, we are looking at entering short at a max risk pips of 50...our stop has to be at the top of the doji bear weekly candle...unless the h4 or h2 provides a cheaper stop loss price...

    of course there is always the possibility of having a last go at the 1.300 price before moving down, but if so happens so beat it, I will be still looking for a short re-entry if that is the case...
    happy trading
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  9. #219
    Join Date
    Feb 2017
    Posts
    224

    Cool t91, t92, t93 update

    hi there, I am not sure I have been updating the trades on time so here they are just in case...

    t91 short usd/cad
    t92 short aud/usd
    t93 long usd/jpy

    happy trading
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