Results from 2018-11-29. 3 trades were closed today. Trade 83 EUR/CHF was stopped at BE. Shame because it was a good gain at one point. Trade 91 GBp/AUD was a nice win. Trade 99 AUD/USD was a loss.
Trade #
83
Session Set
TOYOKO
Date Set
2018-11-25
Time Set
8:51:00 PM
Session Triggered
TOYOKO
Date Taken
2018-11-26
Time Taken
2:01:00 PM
Session End
TOYOKO
End Date
2018-11-28
Time End
11:34:00 PM
Long/Short
Short
Taken At Market
N
Days Active
2.00
Pair
EUR/CHF
Daily Range
32
Pip SL
51.9
PIP TP
70
R/R Ratio
1.348747592
SL % DR
162.19%
Entry Price
1.13085
TP Price
1.12385
SL Price
1.13604
H4 duck price
1.13590
H1 duck price
1.13264
M5 duck price
1.13097
H4 Duck
Sloping lower, entry below the duck
H1 Duck
Sloping lower, entry below the duck
M5 Duck
Entry below the duck
Level taken explanation
Entry is below the support created in the current Asian session. Pair is bearish as seen but the H1 and the H4. Entry is below all ducks. Thinking price will run lower in direction of the overall trend
Sl Placement
Sl is set above the swing highs created Nov 22nd.
TP Placement
TP is at the identified support near 1.12324
Fundamental
Risks
Updates
Account Balance
433.64
Amount Risked $
4.33
Risked %
1.00%
$ Gained/Lost
0.05
% Gained/Lost of trade
1.15%
Gained/Lost % of account
0.01%
Happened
Pair was sold on the support break of a new trading day. Pair went sideways then made a big move lower. The pair got 60% of the way to the TP but then reversed. Pair his the ADJ SL at BE
Improvements
Good strong trend and a good place to enter. It is a shame this pair did not keep running but it was good I was able to derisk as the market had changed. Selling half the position at half would have worked well in this scenario.
Entry is below the support created in the US and ASIAN session. Thinking the pair will hit the entry and run lower in the direction of both the H1 and the H4 duck.
Sl Placement
SL is above the resistance at 1.76843 and the previous US session highs
TP Placement
TP is set at the support at 1.74076
Fundamental
Risks
Updates
2018-11-28 US session. Adjusted Entry to be higher and in the EURO US overlap
Account Balance
430.44
Amount Risked $
4.30
Risked %
1.00%
$ Gained/Lost
7.05
% Gained/Lost of trade
163.95%
Gained/Lost % of account
1.64%
Happened
Sold this pair on the break of the support created during the EURO and US overlap. The pair hit the entry and made a huge move lower during the GBP news event and the US INT rate talks. The following EURO session the pair hit the TP
Improvements
Strong downtrend on the H4 and the H1 which is good. I sold after a pullback which was also good. The TP was set at a good level and it was not greedy. Also the SL was placed at a good level and was not greedy either. Good job on this trade. The news events were on my side which was lucky.
Entry was taken AM. Pair broke the resistance from early in the current EURO session while I was sleeping. Took the position at the level my order would have been set at if I was not sleeping. Pair is bullish as seen by the H1 and the H4 ducks. Thinking the pair will stay above the .73324 support and head higher
Sl Placement
SL is below the EURO session lows of .73045
TP Placement
TP is set at resistance from Aug 20th
Fundamental
Risks
Updates
Account Balance
429.78
Amount Risked $
4.30
Risked %
1.00%
$ Gained/Lost
-4.5
% Gained/Lost of trade
-104.65%
Gained/Lost % of account
-1.05%
Happened
Bought this pair at the level that was the break of resistance from Nov 19th. Pair did move a bit higher but then crashed down into the SL on USD weakness and market uncertainty.
Improvements
Well the one thing I notice is the weaker h4 duck. It is certainty pointing higher but it is not as strong as slope as it could be. I figured that the AUD would increased over the USD since there was the strong bullish move the previous day due to the INT rates being slowed and the stock market rally. I guess the G20 risk caused this paid to not make new highs though.
Results from 2018-11-30. 3 trades today. Trade 86 CHF/JPY was a gain that turned into a loss. Trade 95 EUR/CAD was another gain that turned into a loss. Trade 101 AUD/USD was a loss. I have 6 open trades which are totalling a nice floating profit.
Trade #
86
Session Set
NEW YORK
Date Set
2018-11-27
Time Set
6:16:00 AM
Session Triggered
NEW YORK
Date Taken
2018-11-27
Time Taken
6:31:00 AM
Session End
NEW YORK
End Date
2018-11-30
Time End
7:18:00 AM
Long/Short
Long
Taken At Market
N
Days Active
3.00
Pair
CHF/JPY
Daily Range
88
Pip SL
40.2
PIP TP
60.9
R/R Ratio
1.514925373
SL % DR
45.68%
Entry Price
113.87000
TP Price
114.47900
SL Price
113.46800
H4 duck price
113.22000
H1 duck price
113.49200
M5 duck price
113.69200
H4 Duck
Sloping Upwards, entry above duck
H1 Duck
Sloping Upwards, entry above duck
M5 Duck
Entry above the duck
Level taken explanation
Par is set to take on the resistance break created over several days starting November 21st. The pair looks to be resuming the uptrend and I think it will hit the entry and then move higher in direction of the overall trend
Sl Placement
SL is below the swing support Nov 27th
TP Placement
TP is set at swing support Oct 5th
Fundamental
Risks
Updates
Account Balance
425.58
Amount Risked $
4.25
Risked %
1.00%
$ Gained/Lost
-2.95
% Gained/Lost of trade
-69.41%
Gained/Lost % of account
-0.69%
Happened
Pair was bought on the resistance from the previous week. Pair hit the entry went sideways then made a move higher. Came close to the TP, I moved the TP higher and then the pair came crashing down. Went sideways again on the I adjusted the SL because the H1 duck lost its slope. Pair hit the ADJ Sl before moving to the full SL
Improvements
Good entry I think, in line with trends. Where I really went wrong on this was not locking in profits someway. This was a bit gain that turned into a loss. Good I adjusted the SL and saved pips but this really should not have ended worst than a BE.
Entry is taken AM, pair has broken the resistance of the US session. Trend is up as seen by H1 and H4 ducks.
Sl Placement
SL is below the support at 1.50733 and also the swing low of the new trading day.
TP Placement
TP is set at the resistance from Nov 21.
Fundamental
Risks
Updates
Account Balance
422.70
Amount Risked $
4.22
Risked %
1.00%
$ Gained/Lost
-4.48
% Gained/Lost of trade
-106.16%
Gained/Lost % of account
-1.06%
Happened
Pair was bought on break of the resistance from US session. Pair went sideways then ran higher, came close to the TOP before cratering lower on heavy EURO selling. Pair hi the SL
Improvements
Good entry in line with the trends. The entry was at a level of resistance however which I was unaware of when placing the trade. Shame that the EURO tanked so hard, up suppose I could have derisked in in the ASIAN session but its still a tough call. I don’t think the TP was too greedy and was manageable, although a few pips lower and this trade would have been a win
Pair is bullish on H1 and the H4. Trend is up. Thinking the pair will keep its move higher and run into the TP which is at resistance. Pair has broken resistance in the EURO US overlap of today and looks to want to run higher
Sl Placement
SL is below the .72981 support
TP Placement
TP is set at the resistance at .73369
Fundamental
Risks
Updates
Account Balance
431.59
Amount Risked $
4.31
Risked %
1.00%
$ Gained/Lost
-4.69
% Gained/Lost of trade
-108.82%
Gained/Lost % of account
-1.09%
Happened
Pair was bought and very quickly price fell and hit the SL.
Improvements
Trend was higher on this trade on both the H1 and the H4 ducks. Maybe this was not a good trade to take being that it was the Fridays US session and therefore volatility might not be the best. The AUD was weak during this session despite the strong risk taking in the market could have been on profit taking. Either way my trade was stopped and the pair did not really move past the entry point for the rest of the session
This is week 5 review. Another week of losses. Much better than week 4 though. I had some good floating gains at some points but they evaporated before they were closed or hit the TP/ADJ SL. I got hit on the GBP random news event of the guy speaking about brexit this week. The USD news also hurt me a bit. One of the things i noticed is i had alot of trades this week that had good profit that evaporated into a loss. Its always a tough call, let it run for more profit or close it for a gain. Maybe i should implement two take profits, one that is a 1:1 for half position, and if hit move the SL to BE on the remainder and let run. Need more research. I have 6 trades open that have a good floating profit right now. So i am not too far away from BE with the 6 trades.
Week
Start
End
Change
Change %
Trades set
Trades Taken
1
449.22
438.84
-$10.38
-2.31%
11
8
Week
Start
End
Change
Change %
Trades set
Trades Taken
2
438.84
450.38
$11.54
2.63%
25
22
Week
Start
End
Change
Change %
Trades set
Trades Taken
3
$450.38
$500.34
$49.96
11.09%
25
23
Week
Start
End
Change
Change %
Trades set
Trades Taken
4
$500.34
433.64
-66.7
-13.33%
17
15
Week
Start
End
Change
Change %
Trades set
Trades Taken
5
433.64
419.08
-14.56
-3.36%
19
18
For this week, trying to get back to BE although I’m not very far off. I have over 100 trades now. Probably need another 100 or 200 before I have statistically relevant data. Currently have 6 open trades which are in direction of the trend. NFP this week at the end so ill need to lookout for that. Also heavy CAD news for wed, thurs and Friday.
Sheesh I think you take a lot of trades in a week. I think you can maximize the same gains with half amount of trades. What’s your system like? How much do usually leverage per trade?
This is a trend following system. I am using the 3 duck method which has a huge multiyear thread on babypips but I am using it over a longer time frame since I cannot be at my computer to close the pair if price moves onto other side of M5 “duck” I am trading 28 pairs. The system is I am to buy/sell when the price is above/below the “duck” on the M5, H1 and the H4. The goal is to find a strong slope of the H4 duck and line it up with the H1 duck. When both are sloping nicely in the same direction and price is on the same side of the “duck” on both I go to the M5 and look for entry points. Entries are a break of support/ resistance on the M5. The SL is placed usually above/below some swing support/resistance. The TP is usually set at support/resistance but needs to be at least 1:1 risk to return ratio if not greater. I only want to take maximum 3 positions on a currency pair unless I have reduced risk on them. I only ever risk 1% equity on each trade.
Check some of the trades out, the pictures and the trade details might make what is above more clear.
Results from 2018-12-03. At market open for the week the gap caused a few trades to get closed. Trade 88 AUD/CAD picked up a good gain. Trade 93 GBP/NZD picked up a huge gain. Trade 98 NZD/USD was a good gain. Trade 100 CAD/JPY was a pretty big loss. These trades were what they are because of the gap that occurred. Mostly it was favourable. Today trade 102 GBP/NZD was stopped at a loss, just barley was stopped. Trade 107 GBP/NZD was stopped at a loss.
Trade #
88
Session Set
NEW YORK
Date Set
2018-11-27
Time Set
6:40:00 AM
Session Triggered
TOYOKO
Date Taken
2018-11-27
Time Taken
4:05:00 PM
Session End
AUSTRAILIAN
End Date
2018-12-02
Time End
2:00:00 PM
Long/Short
Long
Taken At Market
N
Days Active
5.00
Pair
AUD/CAD
Daily Range
76
Pip SL
36.3
PIP TP
57.2
R/R Ratio
1.575757576
SL % DR
47.76%
Entry Price
0.96158
TP Price
0.96730
SL Price
0.95795
H4 duck price
0.95904
H1 duck price
0.95739
M5 duck price
0.95982
H4 Duck
Sloping Upwards, entry above duck
H1 Duck
Sloping Upwards, entry above duck
M5 Duck
Entry above duck
Level taken explanation
Entry is set to buy on the break of the resistance created in the US EURO overlap. Pair is bullish as seen by H1 and the H4 sloping upward ducks. Thinking the price will move in direction of the overall trend
Sl Placement
SL is below the EURO session lows
TP Placement
TP is set at resistance created around .96174
Fundamental
Risks
Updates
Account Balance
425.58
Amount Risked $
4.25
Risked %
1.00%
$ Gained/Lost
8.69
% Gained/Lost of trade
204.47%
Gained/Lost % of account
2.04%
Happened
Pair was bought on a break of the Asian consolidation. Pair ran higher and I ended up closing half of the position for a gain and bringing the SL to BE on the remainder. Pair then spiked much higher on bad CAD news and the week ended positive. New week saw a huge gap and the 2nd TP get hit at a higher price.
Improvements
Good entry, good slope on H1 and the H4 ducks. The pair was bullish and ran higher. I was aided and lucky by the CAD news and the weekend gap up but I think closing half the position and derisking the rest was a good strategy to lock in gains.
Entry is below the support created around 1.88 in the EURO session. Pair has rallied to resistance at 1.88505 and stalled and looks to want to head back lower. Thinking the pair will continue in the direction of the trend
Sl Placement
SL is above the 1.885 resistance level
TP Placement
TP is at support around 1.838
Fundamental
Risks
Updates
Account Balance
421.79
Amount Risked $
4.20
Risked %
1.00%
$ Gained/Lost
21.549
% Gained/Lost of trade
513.07%
Gained/Lost % of account
5.11%
Happened
Sold this pair on the break of the EURO and US overlap. Pair ran lower and then broke the 1.86615 support level. I reduced risk on half the position and moved the SL to BE on the other half, pair hit the ADJ SL and then ran lower. New week opened up and saw a huge gap lower, second TP was hit
Improvements
Sold this in a good downtrend as seen by H1 and the H4 ducks. Both were very bearish. The US INT rate news did help this position so that was lucky Taking TP half way was a good way to take some gains. I had moved the SL to BE also when I did this so I then had a risk free trade. The gap was lucky also.
Entry is set to trigger on a break of the Asian resistance at .68519. I was waiting for the duck to fall lower to take this trade. Pair is bullish on both the H1 and the H4. P
Sl Placement
SL is below the Asian session support and also the RTL
TP Placement
TP is set at the US session highs.
Fundamental
Risks
Updates
Account Balance
422.70
Amount Risked $
4.22
Risked %
1.00%
$ Gained/Lost
10.47
% Gained/Lost of trade
248.10%
Gained/Lost % of account
2.48%
Happened
pair was bought during the Asian session on a rebound. Pair stalled mostly then the week ended, price gaped higher hard and hit a much bigger TP
Improvements
Trend was up on both H1 and the H4. No issues there. The gap was indeed lucky.
Selling this pair on a break of the TOYOKO session support. Pair is bearish as seen by the H4 and the H1 ducks. Thinking pair is going to continue the trend lower
Sl Placement
SL is above the whole previous days highs
TP Placement
TP is set at support form Nov 20
Fundamental
Risks
Updates
Account Balance
431.59
Amount Risked $
4.31
Risked %
1.00%
$ Gained/Lost
-9.23
% Gained/Lost of trade
-214.15%
Gained/Lost % of account
-2.14%
Happened
Sold this during a support break of the Asian session. Pair di move lower but stalled out at end of week. New week saw the price spike past the SL for a large loss.
Improvements
Trend was down on both ducks. The gap was unlucky.
Selling this pair on a beak of the minor support near the beginning of Asian session. Pair is bearish and the gap that formed has filled. Pair is below ducks on all time frames and i think this pair will return to lows
Sl Placement
SL is above the high of the Asian session at 1.85258
TP Placement
TP is set at the support from the no session lows at 1.84029
Fundamental
Risks
Updates
Account Balance
443.49
Amount Risked $
4.43
Risked %
1.00%
$ Gained/Lost
-4.45
% Gained/Lost of trade
-100.45%
Gained/Lost % of account
-1.00%
Happened
Pair was sold. Price barely hit the SL before moving to the TP.
Improvements
This is just bad luck I think. Price barley hit the SL before moving to the TP over the EURO session. I guess to make this better I should have used 1 additional pip on the SL. The slope n both the H1 and the H4 were good.
Strong slope lower has started, entry below the duck
H1 Duck
Strong slope lower, entry below the duck
M5 Duck
Entry below the duck
Level taken explanation
Selling AM, Pair has gapped lower, filled over the previous sessions, and is now heading lower. A bit late to sell but I am, selling the break of support of the EURO session around 1.83645 in direction of the trend
Sl Placement
SL is above the resistance at 1.83810
TP Placement
TP is set before resistance which is near 1.79229
Fundamental
Risks
Updates
Account Balance
439.04
Amount Risked $
4.39
Risked %
1.00%
$ Gained/Lost
-4.36
% Gained/Lost of trade
-99.32%
Gained/Lost % of account
-0.99%
Happened
Price was sold when the support broke on the EURO US overlap. Pair then reversed and barley hit the SL before falling back to the entry.
Improvements
I guess I was selling after a big move lower had already occurred. This might have been the problem with this trade. Perhaps I need to wait for a stronger pullback to enter.
Strong slope lower has started, entry below the duck
H1 Duck
Strong slope lower, entry below the duck
M5 Duck
Entry below the duck
Level taken explanation
Selling at a break of the lows created from they EURO and US session overlap. Pair is very bearish and gapped lower over the weekend. The gap has failed to completely fill and the pair is trying to make new lows. A bearish signal. Downtrend has resumed on the H4 and H1 has a strong slope lower. I think that the pair will break lower and move in direction of the trend.
Sl Placement
TP Placement
Fundamental
Risks
Updates
Account Balance
439.04
Amount Risked $
4.39
Risked %
1.00%
$ Gained/Lost
-4.4
% Gained/Lost of trade
-100.23%
Gained/Lost % of account
-1.00%
Happened
Price was sold when the support broke on the EURO US overlap. Pair then reversed and hit the SL
Improvements
I guess I was selling after a big move lower had already occurred. This might have been the problem with this trade. Perhaps I need to wait for a stronger pullback to enter.
You are right though. I definitely need to reduce my trade number. It would make the journaling much easier. I’m just so tempted to take a trade on every trending pair
Well I forced myself to only take a certain amount of trades per day. No matter how good it looks to me, how many pips come in, I only take a certain amount in a day. I usually take 2-3 trades a day, I can literally count the days in my trading career where I’ve taken 4 trades. Don’t get me wrong I passed up on a lot of profits/losses but that discipline of trading just a certain amount keeps me ever so grounded. I tend to get in & out of trades at the best times & more importantly I make my money and get out. I’m not greedy I don’t go looking for more gains when I hit my required daily level whether it’s profits/losses I sit on the bench and reflect on my trades.
I haven’t posted in a few days. My account took some more losses and now account is underwater. The highs were 500 and has since been reduced to 400. A 20% reduction. GBP/CHF trade 96 was a gain, took a while though. Trade 97 NZD/CAD was a small gain. Trade 103 EUR/AUD ended as a loss. Trade 104 NZD/JPY was a loss. Trade 105 NZD/USD was a loss. Trade 106 EUR/NZD was a loss. Trade 109 NZD/CHF was a loss. Trade 110 EUR/AUD was a loss. Trade 112 GBP/NZD was a loss. Trade 113 NZD/CAD was a loss.
Trade #
96
Session Set
TOYOKO
Date Set
2018-11-28
Time Set
6:47:00 PM
Session Triggered
EUROPEAN
Date Taken
2018-11-29
Time Taken
12:00:00 AM
Session End
NEW YORK
End Date
2018-12-07
Time End
7:55:00 AM
Long/Short
Short
Taken At Market
N
Days Active
8.00
Pair
GBP/CHF
Daily Range
119
Pip SL
67
PIP TP
108
R/R Ratio
1.611940299
SL % DR
56.30%
Entry Price
1.27294
TP Price
1.26214
SL Price
1.27964
H4 duck price
1.27768
H1 duck price
1.27536
M5 duck price
1.27383
H4 Duck
Strong slope lower, entry below the duck
H1 Duck
Strong slope lower, entry below the duck
M5 Duck
Entry is below the duck
Level taken explanation
Entry is set to trigger on the break of the current TOYOKO session as well as the previous days US session. Pair is overall bearish as seen by the H1 and the H4 ducks
Sl Placement
SL is above the swing high created Nov 28
TP Placement
TP is set at consolidation from Sept 18
Fundamental
Risks
Updates
Account Balance
422.70
Amount Risked $
4.22
Risked %
1.00%
$ Gained/Lost
5.629
% Gained/Lost of trade
133.39%
Gained/Lost % of account
1.33%
Happened
Sold on a break of the Asian session lows. Pair ran lower and stalled. Came close to the SL at one point but could not break resistance. Then the pair moved lower again and the final push of the NFP was closed at market.
Improvements
Good trend I sold into, I think the sell level was also good. The pair did go sideways but the H4 trend did not fully level out so buying this pair back at a earlier time was not a good idea. The H1 did level out a bit which was risky. I guess this is a good trade overall.
Entry is set to trigger on a break of the resistance at .90966. The trend is higher and the H1 and H4 ducks are sloping upwards. Entry is also above the resistance from Nov 21st
Sl Placement
SL is below the RTL and the two supports as indicated on chart
TP Placement
TP is set at resistance June 22nd
Fundamental
Risks
Updates
Account Balance
422.70
Amount Risked $
4.22
Risked %
1.00%
$ Gained/Lost
7
% Gained/Lost of trade
165.88%
Gained/Lost % of account
1.66%
Happened
Bought this pair after a move lower. Pair rallied in direction of the trend during the Asian session. Pair stalled a built but stayed above the SL. Then it moved higher and I locked in gains and moved the TP up. Price hit the ADJ SL.
Improvements
Good trade overall, trend was up, entry was after a pullback. SL wasn’t greedy.
Sold pair AM. Pair is very bearish as seen by H1 and the H4. The gap looks to not be filling and running away instead which is very bearish. Thinking price will head lower. Pair is breaking the lows of the day and the support created in the current EURO session.
Sl Placement
SL is above the swing high and week high in the middle of gap
TP Placement
TP is set at the support from April 11th 2018 Jan 9th
Fundamental
Risks
Updates
Account Balance
439.04
Amount Risked $
4.39
Risked %
1.00%
$ Gained/Lost
-4.39
% Gained/Lost of trade
-100.00%
Gained/Lost % of account
-1.00%
Happened
Pair was sold and very quickly price rose and hit the SL.
Improvements
The trend as strong downwards. I think the issue was that I was selling after a push lower. I should have waited fir the price to rally and then sell. Selling at an extreme is a bit more risky than selling after a retracement.
Taking this position at a break of the resistance created during the no session of the week. Pair gapped higher and is not filling the full gap. A bullish signal. Thinking the price hit the new high and breakaway higher in direction of the trend which is bullish as seen by H1 and the H4 ducks
Sl Placement
SL is below the lows of the week and in the middle of the gap
TP Placement
TP is set at resistance from April 12
Fundamental
Risks
Updates
Account Balance
439.04
Amount Risked $
4.39
Risked %
1.00%
$ Gained/Lost
-4.3
% Gained/Lost of trade
-97.95%
Gained/Lost % of account
-0.98%
Happened
Bought the pair on move higher during the US session. Pair stalled and fell lower to the SL,
Improvements
Well the gap filled even though it took awhile. The trend was up though. I think taken the position when there was a gap there was too risky. Should have waited for the gap to fill first.
Strong uptrend has formed and a new slope is created, entry below duck
H1 Duck
Strong slope higher entry below the duck
M5 Duck
Entry is above duck
Level taken explanation
Bought AM, pair is bullish as seen by H1 and the H4 ducks. New slope is created on H4. pair has failed to fill the full gap and is looking to 2want to move higher which is a bullish signal. Bought AM on the break of the minor consolidation during the US EURO overlap.
Sl Placement
Sl is below the days support and is back in the gap zone
TP Placement
TP is set before the resistance from June 6th
Fundamental
Risks
Updates
Account Balance
439.04
Amount Risked $
4.39
Risked %
1.00%
$ Gained/Lost
-4.45
% Gained/Lost of trade
-101.37%
Gained/Lost % of account
-1.01%
Happened
Bought this pair on a move higher, trend was up. Pair fell lower into the SL on risk aversion
Improvements
Trend was correct. I suppose the way to improve this would have been to close it when it crossed the duck on the H1.
Strong slope lower has started, entry below the duck
H1 Duck
Strong slope lower, entry below the duck
M5 Duck
Entry below duck
Level taken explanation
Selling this in direction of the H1 and H4 trend. Pair is very bearish. Order is set to sell on a new low and break of the EURO session lows.
Sl Placement
SL is above the swing resistance in the EURO session that was created around 1.64235
TP Placement
TP is set at support from Sept 20
Fundamental
Risks
Updates
Account Balance
439.04
Amount Risked $
4.39
Risked %
1.00%
$ Gained/Lost
-4.45
% Gained/Lost of trade
-101.37%
Gained/Lost % of account
-1.01%
Happened
Sold this on a move lower during the overlap. Pair hesitated for two days then moved higher to the Sl.`
Improvements
This was sold at an extreme. The trend was fine but it was totally sold at a low point. I think I can improve by selling it after a retracement rather than a extreme. Also I could have closed it or reduced the risk when the duck levelled off.
Strong uptrend has formed and a new slope is created, entry above duck
H1 Duck
Strong slope higher entry below the duck
M5 Duck
Entry above duck
Level taken explanation
Buying AM, pair has broken the resistance created in previous US EURO overlap. Pair is bullish as seen by H1 and H4 ducks. Thinking the pair has broken the resistance and will run higher
Sl Placement
SL is below the swing support created during the current no session
TP Placement
TP is set at resistance as seen by H4 chart
Fundamental
Risks
Updates
Account Balance
425.82
Amount Risked $
4.25
Risked %
1.00%
$ Gained/Lost
-4.72
% Gained/Lost of trade
-111.06%
Gained/Lost % of account
-1.11%
Happened
Bought this on a move lower during the TOYOKO session. Pair fell lower to the SL.
Improvements
The trend was fine. I think the gap was too risky to be buying though. Most gaps close and the pair still wanted to close it. Other than that this was bought at an extreme. I think that need to buy after a retracement.
Selling this pair on a break of the consolidation in the US session. Pair is overall bearish as seen by H1 and the H4 ducks. Thinking price will continue in direction of the trend
Sl Placement
Sl is above the resistance created by the previous day
TP Placement
TP is set at the psychological level
Fundamental
Risks
Updates
Account Balance
425.82
Amount Risked $
4.25
Risked %
1.00%
$ Gained/Lost
-4.32
% Gained/Lost of trade
-101.65%
Gained/Lost % of account
-1.01%
Happened
Sold this during TOYKO. Price mostly just went up into the SL.
Improvements
I think I sold this at an extreme. It would be better to sell after a retracement. The trend was good though. Plus there was a gap and the gap wanted to close, might have been too much risk to sell before the gap closed.
Selling this pair on a break of the support from the Asian session . Pair is bearish and looks to want to head lower in direction of the trend
Sl Placement
SL is above the gap level
TP Placement
tp is set at the previous days support
Fundamental
Risks
Updates
Account Balance
425.82
Amount Risked $
4.25
Risked %
1.00%
$ Gained/Lost
-4.26
% Gained/Lost of trade
-100.24%
Gained/Lost % of account
-1.00%
Happened
Sold this during TOYKO. Price mostly just went up into the SL.
Improvements
I think this was a good level to sell at. The trend was good. However the gap had not yet closed and so selling was too much risk until the gap had closed.
Selling on a break of the support created during the end of the EURO session. Pair is overall bearish as seen by h1 and the h4 ducks. Price rallied during EURO session and I think it will head back to the support of the EURO ASIAN overlap.
Sl Placement
SL is above the EURO session by fair amount
TP Placement
TP Is set at the low of the day
Fundamental
Risks
Updates
Account Balance
432.81
Amount Risked $
4.32
Risked %
1.00%
$ Gained/Lost
-4.34
% Gained/Lost of trade
-100.46%
Gained/Lost % of account
-1.00%
Happened
Sold this during the EURO and US overlap. Pair fell and came so close to the TP but then reversed and ran higher to the SL.
Improvements
Trend was good. Pair was bearish and the level was not an extreme. The close TP was unlucky. No way to close it when the pair turned bullish because I was sleeping during the EURO session.
Bought AM. Pair is bullish as seen by H1 and H4 ducks. Pair has just broken some consolidation from the end of the EURO session
Sl Placement
SL is below the swing support created during previous TOYOKO session and also the rising TL
TP Placement
TP Is set at 1:1
Fundamental
Risks
Updates
Account Balance
401.64
Amount Risked $
4.03
Risked %
1.00%
$ Gained/Lost
-4.33
% Gained/Lost of trade
-107.44%
Gained/Lost % of account
-1.08%
Happened
Bought this pair on a break higher during the US EURO overlap. Pair did move higher but then fell lower. Stayed above the RTL before crashing below during the late Asian and early EURO session. Hit the SL during the NFP report.
Improvements
Trend was higher and there was a good pullback. Pair did come close to the TP but didn’t make it. It would have been hard to close it before the move lower below the RTL occurred while I was sleeping. By the time the NFP occurred the trade was mostly done for.
I use this as a rule of thumb : If I lose 2-3 trades in a day, I stop trading altogether for that day. Especially if it regards 1-2 pairs in those trades. Doesn’t mean anything is wrong with your analysis since you can’t be perfect all the time but the markets have a way of kicking you while your down(in my experience). A lot of traders try to re-coop their losses instantly and just end up losing more. I’d say put your mind in a calm setting for next week. Remember we take the losses as long as we can live to trade another day!
Best wishes & I’ll continue to follow up with your journey.
Week 6 review. Last several weeks have been quite challenging. I need to ensure I do not over trade. My goal for the coming week is to keep my trades to maximum 3 per day. Over 5 days that makes a max of 15. Well see how it goes.
Yes this is good advice. My goal is to keep trades to 2-3 a day for this coming week. That means a max of 15 over this week. However a review of my past trades show that i have averaged at 16 a week. So i am not sure how much this will really help me.
I do plan on doing a review. However the start date of the system and this thread does not align with the calendar year so i don’t know how useful doing it based off the calendar really will be.
Results from 2018-12-11. Two trades were closed. Trade 114 AUD/JPY was a loss and Trade 118 GBP/USD was a gain. I have 3 trades open, NZD/JPY, AUD/NZD & GBP/JPY. Trying hard not to overtrade.
Trade #
114
Session Set
NEW YORK
Date Set
2018-12-10
Time Set
6:35:00 AM
Session Triggered
NEW YORK
Date Taken
2018-12-10
Time Taken
7:58:00 AM
Session End
EUROPEAN
End Date
2018-12-11
Time End
3:47:00 AM
Long/Short
Short
Taken At Market
N
Days Active
1.00
Pair
AUD/JPY
Daily Range
82
Pip SL
52.7
PIP TP
53.8
R/R Ratio
1.020872865
SL % DR
64.27%
Entry Price
81.20000
TP Price
80.66200
SL Price
81.72700
H4 duck price
82.37600
H1 duck price
81.31100
M5 duck price
81.34000
H4 Duck
Sloping lower, entry below the duck
H1 Duck
Sloping lower, entry below the duck
M5 Duck
Entry below duck
Level taken explanation
Selling at a level that is below the majority of the EURO session. Pair is overall bearish and the trend is lower. Thinking the price will continue in the direction
Sl Placement
SL is above resistance from the previous week
TP Placement
Tp is set close to the support at 80.632 level
Fundamental
Risks
Updates
Account Balance
402.80
Amount Risked $
4.02
Risked %
1.00%
$ Gained/Lost
-4.03
% Gained/Lost of trade
-100.25%
Gained/Lost % of account
-1.00%
Happened
Pair hit the entry and ran higher. Duck levelled out and then pair ran higher into the SL
Improvements
Pair was in strong downtrend when It was sold. The pair had made a good retracement and was poised to head back to the support. The US session saw a rally in the pair though. The following Asian session was really my opportunity to close the trade or reduce risk due to the duck that began to slope higher. Shortly after the EURO session saw the SL hit. So really i think that the entry here was good. The only real mistake was not managing it better during the Asian session
Selling at a break of the support created in the EURO session. Pair is trending lower and I think the US session will see further downside movement
Sl Placement
SL is above the EURO session highs
TP Placement
TP Is set at the support
Fundamental
Risks
Updates
Account Balance
398.73
Amount Risked $
3.97
Risked %
1.00%
$ Gained/Lost
7.39
% Gained/Lost of trade
186.15%
Gained/Lost % of account
1.85%
Happened
Pair was sold after the retracement higher in the Asian session. Pair moved sharply lower on the GBP leader May fundamental news and hit the TP.
Improvements
The trend was good and there was a good retracement. This was a good place to sell into a strong trend. I think that the leader May news was probably lucky but this was in line with my system, a good trend and I was not greedy.
Results from 2018-12-12. Trade 115 GBP/JPY was stopped. Trade 116 AUD/NZD was stopped. Trade 117 NZD/JPY was stopped.
Trade #
115
Session Set
TOYOKO
Date Set
2018-12-10
Time Set
7:03:00 PM
Session Triggered
NEW YORK
Date Taken
2018-12-11
Time Taken
7:59:00 AM
Session End
NEW YORK
End Date
2018-12-12
Time End
7:54:00 AM
Long/Short
Short
Taken At Market
N
Days Active
1.00
Pair
GBP/JPY
Daily Range
172
Pip SL
108.8
PIP TP
155.8
R/R Ratio
1.431985294
SL % DR
63.26%
Entry Price
141.95900
TP Price
140.40100
SL Price
143.04700
H4 duck price
1.44231
H1 duck price
1.43266
M5 duck price
1.42159
H4 Duck
Strong slope lower, entry below the duck
H1 Duck
Strong slope lower, entry below the duck
M5 Duck
Entry below the duck
Level taken explanation
Selling at a break of the Asian session lows. Pair very bearish and I think the trend will continue.
Sl Placement
SL is above the FTL
TP Placement
TP is set at support near 140
Fundamental
Risks
Updates
Account Balance
402.47
Amount Risked $
4.02
Risked %
1.00%
$ Gained/Lost
-4.02
% Gained/Lost of trade
-100.00%
Gained/Lost % of account
-1.00%
Happened
Set this order to sell on the break of the Toyoko lows. Pair ran higher in EURO session and the was triggered after a fall in the late EURO and early US session. Pair moved lower but reversed and then spiked higher in the next days EURO session on brexit news. Hit the SL
Improvements
Initial idea was good. Strong slope and good trend. It is just the move higher happened before the move lower so the pair was tired when the entry occurred. It would have been better to move the entry higher to take on the break of the EURO support. Sadly i was sleeping. No way i think i could have predicted the spike higher the following EURO session on brexit stuff
Selling at a break of the support created during the Asian session. Pair is bearish as seen by h1 and h4 trends. Thinking the price is going to run lower.
Sl Placement
SL is above the FTL and the resistance at 1.05059
TP Placement
TP is set near support created in June and August
Fundamental
Risks
Updates
Account Balance
402.47
Amount Risked $
4.02
Risked %
1.00%
$ Gained/Lost
-4.05
% Gained/Lost of trade
-100.75%
Gained/Lost % of account
-1.01%
Happened
Set this order to sell on the break of the Toyoko lows. Pair ran higher in EURO session and the was triggered after a fall in the late EURO and early US session. It was a stale entry on old support. Pair then ran higher and moved in the SL.
Improvements
Original idea was good. However the entry was stale and the pair was tired by the next day when the move lower occurred. It would have been better to sell on a break of the EURO support after the move higher. However I was sleeping. I guess I could have bailed out of this trade when the duck levelled off but it didn’t really change to upslope until the SL was hit
Buying AM, pair has broken the resistance created in the EURO session,. The overlap is seeing a spike higher in direction of the overall trend. Thinking the price will continue higher
Sl Placement
SL is below the whole last days support
TP Placement
TP is set at resistance from Dec 4
Fundamental
Risks
Updates
Account Balance
398.73
Amount Risked $
3.97
Risked %
1.00%
$ Gained/Lost
-4.16
% Gained/Lost of trade
-104.79%
Gained/Lost % of account
-1.04%
Happened
Was a bit late buying this pair but not much. Pair stalled after a move higher and then broke lower during the following Asian session. Pair was still actually bullish when I went to sleep but the EURO session saw the spike lower into the SL
Improvements
I think the entry was fine, it was a tad bit late but I was sleeping so there isn’t much I can do. I suppose i could have sold it at a loss when the TOYOKO spike lower occurred but it was still bullish as seen by the H1 duck sloping upwards. I don’t know kind of a tricky one
Results from 2018-12-14. Trade 119 GBP/USD was cancelled and never triggered. Trade 122 AUD/JPY was stopped out.
Trade # 119
Session Set NEW YORK
Date Set 2018-12-12
Time Set 7:01:00 AM
Session Triggered NEW YORK
Date Taken 2018-12-12
Time Taken 7:01:00 AM
Session End
End Date
Time End
Long/Short Short
Taken At Market N
Days Active -43446.00
Pair GBP/USD
Daily Range 139
Pip SL 76.8
PIP TP 86.6
R/R Ratio 1.127604167
SL % DR 55.25%
Entry Price 1.25671
TP Price 1.24805
SL Price 1.26439
H4 duck price 1.27093
H1 duck price 1.25774
M5 duck price 1.25720
H4 Duck Strong slope lower, entry below the duck
H1 Duck Strong slope lower, entry below the duck
M5 Duck Entry below the duck
Level taken explanation Selling pair at a break of the support created during the beginning over the EURO US overlap. Pair is bearish overall and I think the pair will return to its lows
Sl Placement SL is above the swing high created in the EURO US overlap
TP Placement TP Is at the support from previous 2 days
Fundamental
Risks
Updates
Account Balance 393.88
Amount Risked $ 3.93
Risked % 1.00%
$ Gained/Lost
% Gained/Lost of trade 0.00%
Gained/Lost % of account 0.00%
Happened Cancelled, did not trigger
Improvements
Selling pair AM, pair is in a downtrend as seen by the ducks. Pair has broke the EURO session lows and is making a move lower.
Sl Placement
S: so placed above some of the EURO resistance
TP Placement
TP is set at the Nov 23 lows
Fundamental
Risks
Updates
Account Balance
393.88
Amount Risked $
3.95
Risked %
1.00%
$ Gained/Lost
-4.02
% Gained/Lost of trade
-101.77%
Gained/Lost % of account
-1.02%
Happened
Pair rallied in the overlap and ran to the SL.
Improvements
Well I guess my SL could have been above the RTL. Maybe it was a but risky to sell at the support level front the previous week. The trends were both lower though so that part was good.
Week 7 review. Another changing week for my system. Under 400$ now…… However I was successful at NOT overtrading this week. Only set 9 orders and 7 of them were taken. Lots of the week I was unable to spot any setups. This is good because it means I am forcing I less. Haven’t had a positive week in awhile. Going to have to see if i can get a weekly gain coming up here.
