Some weeks ago I started sharing my trades on the Chart Art topic. I’ll now take the advice I got from one of the comments and share the progress in a single thread here!
As you can see below, the journey has started in a quite choppy form, however, that’s trading! I’m prepared to take a few attempts at the challenge as any strategy can go into a drawdown or a winning streak at any moment. Since I mainly trade on the daily and 4-hour chart, trade setups tend to take a while to appear and develop.
The risk management strategy I’m following is to go with a slightly more aggressive approach and trade with a 1% risk per trade. This will be limited to the challenge phases, and once the funded account is achieved, I’ll drop the risk down to 0.5% per trade to go into capital preservation mode.
I intend to add more accounts with time, however, let’s focus on the first one haha. Since this is a catch-up first post, I’ll reference the trades and insights I’ve posted on TradingView since I started the challenge. Here is the last trade taken:
And we’re back to this pair! After the stop-loss I had here, I consider there’s an interesting opportunity here for a shift in structure. Personally, I think there can be a bearish extension reaching into the nearest support area.
Anyway, here are the notes from da’ journal!
The market has been in an uptrend for almost a year. Recently, the uptrend structure was broken, moving the market below a bullish trendline, as well as below a resistance that was apparently broken but that failed to test the breakup.
We recently saw a strong bearish movement below that resistance, which supports the potential shift in structure. The stop loss is placed above the last high, and the first profit target is set to the next major support area. The second profit target will remain open in case the market shows strong bearish momentum when reaching the first one.
1- $100k Challenge - USDCHF Short - E1 T1 for FX:USDCHF by FernandoBorea — TradingView
2- $100k Challenge - AUDCAD Long - E2 T1 for FX:AUDCAD by FernandoBorea — TradingView
3- $100k Challenge - GBPUSD Long - E3 T1 for FX:GBPUSD by FernandoBorea — TradingView
4- $100k Challenge - CADJPY Short - E4 T1 for FX:CADJPY by FernandoBorea — TradingView
5- $100k Challenge - EURAUD Short - E5 T1 (Hindsight trade) for FX:EURAUD by FernandoBorea — TradingView
6- $100k Challenge - USDCAD Short - E6 T1 for FOREXCOM:USDCAD by FernandoBorea — TradingView
7- $100k Challenge - GBPUSD Long - E7 T1 - Trade follow-up for FX:GBPUSD by FernandoBorea — TradingView
8- $100k Challenge - AUDCAD Long - E8 T1 - Trade follow-up for FX:AUDCAD by FernandoBorea — TradingView
9- $100k Challenge - Weekly Self Review - E9 T1 07/08 ~ 11/08 for FX:AUDCHF by FernandoBorea — TradingView
10- $100k Challenge - AUDCAD Long - E10 T1 - Trade Review for FX:AUDCAD by FernandoBorea — TradingView
11- $100k Challenge - USDCAD Long - E11 T1 - Trade Review for FOREXCOM:USDCAD by FernandoBorea — TradingView
12- $100k Challenge - CADCHF Long - E12 T1 for FX:CADCHF by FernandoBorea — TradingView
13- $100k Challenge - USDCHF Long - E13 T1 - Trade Review for FX:USDCHF by FernandoBorea — TradingView
14- $100k Challenge - GBPUSD Long - E14 T1 - Trade Review for FX:GBPUSD by FernandoBorea — TradingView
15- $100k Challenge - (Bi)Weekly Self Review 14/08 ~ 25/08 - E15 T1 for FX:AUDCHF by FernandoBorea — TradingView
16- $100k Challenge - GBPUSD Short - E16 T1 for FX:GBPUSD by FernandoBorea — TradingView