That is not a bad idea. If not out of positions at least have the risk covered as much as possible.
Sometimes i have been stuck in trades from earlier in the week or something that i end up holding through the event. It just isn’t always possible to completely avoid the news event risk.
Not taking the positions before the news events is definitely doable though.
“Sometimes i have been stuck in trades from earlier in the week or something that i end up holding through the event. It just isn’t always possible to completely avoid the news event risk.”
One of the hardest things a trader has to learn, be a good loser.
I had three trades open prior to the FOMC. They where bearish, I thought the price action would go bullish. The open traders were short a total of 25 pips at the time. The safe play would have been to close the three trades. Instead I would up with a 175 pip loss which could have easily been avoided.
Two positions were closed. Trade 164 GBP/NZD was stopped. Trade 165 EUR/GBP was cancelled. Trade 166 GBP/CAD was a gain.
Trade #
164
Session Set
EURO US OVERLAP
Date Set
2019-01-08
Time Set
5:25:00 AM
Session Triggered
EURO US OVERLAP
Date Taken
2019-01-07
Time Taken
6:01:00 AM
Session End
AUSTRAILIAN
End Date
2019-01-08
Time End
3:59:00 PM
Long/Short
Long
Taken At Market
N
Days Active
1.00
Hours Active
0.42
Total Time Active In Hours
16.98
Pair
GBP/NZD
Daily Range
187
Pip SL
88.1
PIP TP
138.4
R/R Ratio
1.570942111
SL % DR
47.11%
Entry Price
1.89763
TP Price
1.91147
SL Price
1.88882
H4 duck price
1.88912
H4 duck price 30 bars ago
1.87013
H4 duck price 60 bars ago
1.84616
H1 duck price
1.89031
H1 duck price 30 bars ago
1.88967
H1 duck price 60 bars ago
1.89286
M5 duck price
1.89461
H4 Duck
Upwards slope higher, entry above duck
H1 Duck
Upwards slope higher, entry above duck
M5 Duck
Upwards slope higher, entry above duck
Level taken explanation
Buying At a break of the days highs. Pair is bullish as seen by H1 and the H4 ducks. Thinking the pair can break the euro session highs during the overlap and run higher in direction of the trend.
Sl Placement
SL is below the days Asian session lows and the RTL
TP Placement
TP is set at resistance from Dec 31
Fundamental
Risks
Updates
Account Balance
404.52
Amount Risked $
4.05
Risked %
1.00%
$ Gained/Lost
-4.04
% Gained/Lost of trade
-99.75%
Gained/Lost % of account
-1.00%
Happened
Bought the pair on the break of the EURO highs. Pair hit the entry and crashed lower to the SL.
Improvements
Well this is a classic fake out. I guess the trend could have been better but it wasn’t that bad. I just think I got faked out buy the slight move higher during the no session only for price to crash lower.
Trade # 165
Session Set EURO US OVERLAP
Date Set 2019-01-08
Time Set 5:35:00 AM
Session Triggered
Date Taken
Time Taken
Session End
End Date
Time End
Long/Short Short
Taken At Market N
Days Active 0.00
Hours Active 0.00
Total Time Active In Hours 0.00
Pair EUR/GBP
Daily Range 79
Pip SL 26.1
PIP TP 64.6
R/R Ratio 2.475095785
SL % DR 33.04%
Entry Price 0.89683
TP Price 0.89037
SL Price 0.89944
H4 duck price 0.89967
H4 duck price 30 bars ago 0.90025
H4 duck price 60 bars ago 0.90062
H1 duck price 0.89763
H1 duck price 30 bars ago 0.90054
H1 duck price 60 bars ago 0.90145
M5 duck price 0.89711
H4 Duck Slope downwards, entry below the duck
H1 Duck Slope downwards, entry below the duck
M5 Duck Entry below the duck
Level taken explanation Selling the pair at a break of the mid EURO session support. Pair is bearish as seen by h1 and the H4 ducks. Thinking the price will hit the entry and head lower.
Sl Placement SL is above the current EURO swing resistance as well as the previous trading day resistance. Also a strong FTL in the way of the SL
TP Placement TP is set at the support
Fundamental
Risks
Updates
Account Balance 404.52
Amount Risked $ 4.05
Risked % 1.00%
$ Gained/Lost
% Gained/Lost of trade 0.00%
Gained/Lost % of account 0.00%
Happened Cancelled, not triggered.
Improvements
Selling this Pair AM. Pair has now got the CAD trade balance out of way. The overall trend is bearish as seen by new slope on h4 and existing h1. Pair is breaking the support from the end of the EURO session and I think it wants to run lower as pre-emptive position ahead of the CAD news that event occurs tomorrow.
Sl Placement
SL is above the resistance from the current day and the FTL.
TP Placement
TP is set at support
Fundamental
Risks
Updates
Account Balance
404.52
Amount Risked $
4.05
Risked %
1.00%
$ Gained/Lost
4.07
% Gained/Lost of trade
100.49%
Gained/Lost % of account
1.01%
Happened
Sold the pair in a downtrend on the break of the end swing during the EURO session. Pair did go lower over the day and hit the TP during the Asian session
Improvements
The trend on this was good. My analysis was good. I Figured that the pair would be moving lower on pre-emptive positioning ahead of the CAD news and it did. It would have been nice to move the TP lower and lock in gains but I was not able to due to not being at my computer.
Well lots of trades were closed today. Sadly most were losses. Most of it was CAD related.
Trade #
161
Session Set
EURO US OVERLAP
Date Set
2019-01-07
Time Set
5:27:00 AM
Session Triggered
EURO US OVERLAP
Date Taken
2019-01-07
Time Taken
7:27:00 AM
Session End
EURO US OVERLAP
End Date
2019-01-09
Time End
6:07:00 AM
Long/Short
Short
Taken At Market
N
Days Active
2.00
Hours Active
-0.06
Total Time Active In Hours
23.33
Pair
EUR/CAD
Daily Range
107
Pip SL
55.6
PIP TP
138.2
R/R Ratio
2.485611511
SL % DR
51.96%
Entry Price
1.52655
TP Price
1.51273
SL Price
1.53211
H4 duck price
1.54733
H4 duck price 30 bars ago
1.53650
H4 duck price 60 bars ago
1.52168
H1 duck price
1.53422
H1 duck price 30 bars ago
1.54611
H1 duck price 60 bars ago
1.55645
M5 duck price
1.52824
H4 Duck
Started new downslope, entry below the duck
H1 Duck
Strong slope downwards, entry below duck
M5 Duck
Entry is below the duck
Level taken explanation
Selling the pair at a break of the EURO session swing support. Pair is bearish as seen by the H1 and the new H4 trend lower. Selling the pair and thinking it will continue in the direction of the trend
Selling AM. Pair is bearish as seen by both the H1 and the H4 ducks. Pair has broken the support at .89742 and I think that it will continue its move lower in direction of the trend. Selling at this level is slightly below the no session support which I would have sold earlier if i had been around at the computer. Strength in CAD could be pre3emptive positioning ahead of Wednesday
Sl Placement
SL is above the .89742 resistance and the .89842
TP Placement
TP is in the consolidation zone from November 11
Fundamental
Risks
Updates
Account Balance
404.51
Amount Risked $
4.05
Risked %
1.00%
$ Gained/Lost
0.16
% Gained/Lost of trade
3.95%
Gained/Lost % of account
0.04%
Happened
Sold the pair which did move lower. Then the pair reversed and hit my ADJ SL for BE before the news.
Improvements
I was right on the direction but it was good I was able to reduce the risk. The news was uncertain and a big risk to the trade. Would have been nice to get some gains rather than BE though
Buying AM. Pair is bullish as seen by the H1 and the H4 ducks. The pair has reversed off the lows and is forming a new trend higher. I think there is pre-emptive positioning ahead of the CAD news event that is bidding the CAD higher. Pair has broken the previous days highs.
Sl Placement
SL is below the RTL and the Asian session low
TP Placement
TP is set before the .747 resistance
Fundamental
Risks
Updates
Account Balance
404.51
Amount Risked $
4.05
Risked %
1.00%
$ Gained/Lost
0.06
% Gained/Lost of trade
1.48%
Gained/Lost % of account
0.01%
Happened
Bought this pair AM in the Asian session, it was a bit late to the previous swing break. Pair fell but managed to stay above the RTL. Then moved higher and I derisked ahead of the CAD interest news. Pair hit the BE point before the news event.
Improvements
Not the best entry. I need to take positions after a retracement in direction of the trend. This is somewhat of an emotional trade since it occurred AM after a big rally higher. The SL was laced well though since it didn’t get taken out on the volatility spike. It was good that i derisked ahead of the news but sadly it was triggered before the news event occurred.
Sold the pair AM, pair is bearish as per the H1 and the H4 downtrend. Pair has broken the support from the beginning of the EURO US overlap. Thinking that the pair will run lower in direction of the trend.
Sl Placement
SL is above the days resistance
TP Placement
TP is set at the support at .97526
Fundamental
Risks
Updates
Account Balance
404.68
Amount Risked $
4.05
Risked %
1.00%
$ Gained/Lost
7.37
% Gained/Lost of trade
181.98%
Gained/Lost % of account
1.82%
Happened
Pair was sold on the break of the support from the Euro session and beginning of the overlap. Pair ran lower in direction of the trend and hit the TP
Improvements
Pair was trending down and I was able to catch a strong move lower. The entry was good, the timing was good and the TP was good.
Selling pair AM, pair is bearish as seen by the H1 and the H4 ducks. Price just broke the consolidation zone and is looking to want to make a run lower. Looks like risk aversion is becoming the dominant theme right now
Sl Placement
SL is above days highs
TP Placement
Fundamental
Risks
Updates
Account Balance
404.76
Amount Risked $
4.08
Risked %
1.01%
$ Gained/Lost
-4.09
% Gained/Lost of trade
-100.25%
Gained/Lost % of account
-1.01%
Happened
Sold the pair, the pair hesitated and then moved higher to the SL.
Improvements
Risk aversion was strong today but the EURO had surprising amounts of strength. IT was stronger than the CHF and this pair couldn’t move lower. The trend was good though.
Selling the pair on the break of the EURO US overlap support. Waited for the pair to be done the news and the 5min candle closed positive for CAD. Pair is bearish as see by the h1 and the h4. Thinking the pair will resume its slide lower
Sl Placement
SL is above the days high
TP Placement
TP is set in the consolidation from Nov 5
Fundamental
Risks
Updates
Account Balance
417.55
Amount Risked $
4.17
Risked %
1.00%
$ Gained/Lost
-4.26
% Gained/Lost of trade
-102.16%
Gained/Lost % of account
-1.02%
Happened
Sold this pair after the news event on break of the overlap support. Pair ran higher and then fell back lower. Somehow it managed to hit the SL although I don’t see how…
Improvements
Well the trend was fine I think. I’m not sure how the SL was hit since 11:00 in the US session is still 3 hours before the end and the spreads shouldn’t be that high. Other than that there must have been a buy rumour sell news scenario since the pair never was able to make it lower after the news event. I guess i could waited longer before selling.
Buying pair at a resistance break from the spike higher during the news. Pair is bullish and I was waiting for the CAD news to get out of way. The news is now done and the CAD moved higher after selling beforehand. Looking to catch a run higher created from the news.
Sl Placement
SL is below the minor swing support in the days overlap
TP Placement
TP is set at resistance
Fundamental
Risks
Updates
Account Balance
417.55
Amount Risked $
4.16
Risked %
1.00%
$ Gained/Lost
-4.18
% Gained/Lost of trade
-100.48%
Gained/Lost % of account
-1.00%
Happened
Set an order to take on a break of the news resistance level. Pair hit the entry then fell lower and hit the SL
Improvements
Trend was up and I waited till after the news event which was good. There was strong risk aversion though which could have contributed to this. Also I think the CAD got sold on buying the rumour and selling the news. I don’t think the entry was that bad and the Slow as placed well.
Selling the pair on a break of the 5 min candle with the wick created from the news event. Pair is bearish as seen buy the h1 and the h4 ducks. Thinking that the news is out of way and it was overall in line and the CAD will resume its move lower.
Sl Placement
SL is above the FTL that is on the chart and also the news spike
TP Placement
TP is set at support
Fundamental
Risks
Updates
Account Balance
417.55
Amount Risked $
4.16
Risked %
1.00%
$ Gained/Lost
-4.19
% Gained/Lost of trade
-100.72%
Gained/Lost % of account
-1.00%
Happened
Sold this pair after the news event for CAD had finished. Pair hit the entry and then reversed and hit the SL.
Improvements
Trend was down and I waited till after the news event which was good. Also I think the CAD got sold on buying the rumour and selling the news. I don’t think the entry was that bad and the SL was placed after the FTL.
Only 1 trade was closed today. Trade 170 AUD/CAD was a loss.
Trade #
170
Session Set
EURO US OVERLAP
Date Set
2019-01-09
Time Set
7:02:00 AM
Session Triggered
EURO US OVERLAP
Date Taken
2019-01-09
Time Taken
7:02:00 AM
Session End
TOYOKO
End Date
2019-01-09
Time End
10:00:00 PM
Long/Short
Short
Taken At Market
Y
Days Active
0.00
Hours Active
0.62
Total Time Active In Hours
7.48
Pair
AUD/CAD
Daily Range
76
Pip SL
36
PIP TP
45
R/R Ratio
1.25
SL % DR
47.37%
Entry Price
0.94769
TP Price
0.94328
SL Price
0.95138
H4 duck price
0.95363
H4 duck price 30 bars ago
0.96051
H4 duck price 60 bars ago
0.96220
H1 duck price
0.94898
H1 duck price 30 bars ago
0.94920
H1 duck price 60 bars ago
0.94715
M5 duck price
0.94863
H4 Duck
Strong slope lower, entry below duck
H1 Duck
Sloping lower, entry below the duck
M5 Duck
Entry below the duck
Level taken explanation
Selling the pair AM, pair is bearish and I was waiting for the news to be done. CAD news occurred and the 5 min candle closed lower. Thinking the pair will resume its slide lower
Sl Placement
SL is above the days highs
TP Placement
TP is set at support form Jan 2
Fundamental
Risks
Updates
Account Balance
417.55
Amount Risked $
4.17
Risked %
1.00%
$ Gained/Lost
-4.26
% Gained/Lost of trade
-102.16%
Gained/Lost % of account
-1.02%
Happened
Pair was sold on the move lower from the CAD news. Pair went sideways before launching higher to the SL
Improvements
I did wait for the news candle to close which was good. The trend I think was fine. I guess the H1 could have been stronger but the H4 was strong. Not sure what else there is to say about this trade.
Closed two trades today. Trade 179 EUR/USD was a loss. Trade 180 USD/CAD was a loss.
Trade #
179
Session Set
TOYOKO
Date Set
2019-01-10
Time Set
5:38:00 PM
Session Triggered
TOYOKO
Date Taken
2019-01-10
Time Taken
5:38:00 PM
Session End
EURO US OVERLAP
End Date
2019-01-11
Time End
6:23:00 AM
Long/Short
Long
Taken At Market
Y
Days Active
1.00
Hours Active
-0.47
Total Time Active In Hours
6.38
Pair
EUR/USD
Daily Range
109
Pip SL
36
PIP TP
75
R/R Ratio
2.083333333
SL % DR
33.03%
Entry Price
1.15179
TP Price
1.15915
SL Price
1.14805
H4 duck price
1.14385
H4 duck price 30 bars ago
1.14073
H4 duck price 60 bars ago
1.13743
H1 duck price
1.14979
H1 duck price 30 bars ago
1.14593
H1 duck price 60 bars ago
1.14299
M5 duck price
1.15029
H4 Duck
Strong slope higher entry above duck
H1 Duck
Strong slope higher entry above duck
M5 Duck
Entry above duck
Level taken explanation
Buying the break of the Asian session resistance. Pair is bullish as seen by h1 and the H4 ducks. Pair has retraced and bounced off the RTL and also the 1.14849 support. Thinking this pair will head back in direction of the trend.
Sl Placement
SL is below the 1.148 support and also the RTL
TP Placement
TP is set at resistance from Oct 15
Fundamental
Risks
Updates
Account Balance
396.49
Amount Risked $
3.98
Risked %
1.00%
$ Gained/Lost
-4.16
% Gained/Lost of trade
-104.52%
Gained/Lost % of account
-1.05%
Happened
Bought this pair on the reversal from the support and RTL. Pair broke resistance in the Asian session and ran higher. Then the news came out which was neutral for the USD. A bit afterwards the USD spiked in value and the pair hit the SL.
Improvements
I think the entry was at a decent location. Would have been better at a lower level but I was not at my computer. The trend was higher and the pair had been rejected from the RTL and the support level. Not sure why the news caused the USD spike but regardless the Sl as hit. Pair broke out of the rising channel something i didn’t think would happen. Only way i can see to improve this is to not take a position the day before the news event.
Selling this pair AM on a break of the current Asian lows as well as the lows from the US session. Pair is bearish as seen but the h1 and the H4 ducks. Thinking that the pair will head lower in direction of the trend.
Sl Placement
SL is above the last days highs
TP Placement
TP is set at support
Fundamental
Risks
Updates
Account Balance
396.49
Amount Risked $
3.98
Risked %
1.00%
$ Gained/Lost
-4
% Gained/Lost of trade
-100.50%
Gained/Lost % of account
-1.01%
Happened
Sold the pair AM on the break of the Asian and US session lows. Pair fell in Asian session and bottomed out in EURO session. Pair then rallied and the US GDP news came out neutral. Pair moved higher counter trend and hit the SL.
Improvements
I think the entry was okay. Trend was lower and the pair was bearish. I wanted to derisk ahead of the news event but when I woke up the pair was already at BE…… The news for some reason pushed the pair higher against the trend and the news outcome. Regardless the SL was not placed in a bad spot and the TP was not too large. I guess the only was to improve this would be to n to take a position the day before the news event.
Week 10 review. Another week of mostly losses. There was a period there where the account increased in balance. However I got hit on both the CAD and the USD this week. The CAD was strong and I waited till after the news to take positions in direction of the trend but the news was neutral and ended up pushing the CAD counter trend and thus causing losses. Similarly with the USD, the USD was bearish but after the news it spiked counter trend and I took losses.
I think what I am doing wrong here is I am not lining up factors of confluence. I am reading a book called the candlestick trading bible and it always talks about lining up factors of confluence in order to have the best possible trade. Simply seeing a trend and buying/selling in its direction is not enough. I am going to attempt to line up additional factors that back up the trade idea to make it have the highest possible probability of being successful. That is my goal for the upcoming week.
Buying this pair AM. Pair is bullish as seen by h1 and the h4 ducks. Pair made a move lower and was rejected at the support and the RTL. H4 is showing a bullish engulfing candle which has not closed yet. Buying with the thinking pair is going to make the next move higher to the 1.2925 resistance level.
Sl Placement
SL is below th3e last swing low
TP Placement
TP is at resistance
Fundamental
Risks
Updates
Account Balance
389.05
Amount Risked $
3.89
Risked %
1.00%
$ Gained/Lost
5.63
% Gained/Lost of trade
144.73%
Gained/Lost % of account
1.45%
Happened
pair was bought and then shortly after ran higher to the TP.
Improvements
The trend was good on this trade. The engulfing H4 candle off the RTL didn’t quite work out because the candle didn’t close above the previous. Nonetheless the pair did run higher and my TP was not greedy.
178 EURO US OVERLAP 2019-01-10 5:59:00 AM EURO US OVERLAP 2019-01-10 6:34:00 AM TOYOKO 2019-01-14 9:16:00 PM Short N 4.00 0.61 55.35 USD/JPY 138 61.3 114.9 1.874388254 44.42% 107.92800 106.88100 108.64300 109.09700 110.56000 112.30400 108.49200 108.64500 108.27300 108.08900 Strong slope lower, entry below duck Slope lower has resumed, entry below duck Entry is below the duck Entry is set to trigger at a break of the EURO US overlap support. Pair is bearish as seen by h1 an the H4. The pair is triggering ahead of the 107.79 support but there is multiple levels of resistance in the way. Thinking the pair is going to hit entry and run lower SL is above the 108.545 and the two falling trend lines. TP is set at the support 396.55 3.98 1.00% -3.97 -99.75% -1.00% pair was sold in direction of the trend. Pair hesitated went sideways then hit the SL The trend was strong on this trade. I suppose the thing to do better would be to close it as the trade progressed and did not remain lower. The pair moved above the FTLs and the H1 did level off. This should have been my que to reduce risk.
Review for 2019-01-16. 3 trades were closed today. 181 NZD/USD was a loss. 183 CAD/CHF was a gain. 185 AUD/USD was a loss.
Trade #
181
Session Set
EURO US OVERLAP
Date Set
2019-01-14
Time Set
5:24:00 AM
Session Triggered
EURO US OVERLAP
Date Taken
2019-01-14
Time Taken
6:01:00 AM
Session End
EUROPEAN
End Date
2019-01-16
Time End
1:41:00 AM
Long/Short
Long
Taken At Market
N
Days Active
2.00
Hours Active
-0.18
Total Time Active In Hours
21.83
Pair
NZD/USD
Daily Range
76
Pip SL
31.9
PIP TP
55.4
R/R Ratio
1.736677116
SL % DR
41.97%
Entry Price
0.68239
TP Price
0.68793
SL Price
0.67920
H4 duck price
0.67372
H4 duck price 30 bars ago
0.67117
H4 duck price 60 bars ago
0.67658
H1 duck price
0.68037
H1 duck price 30 bars ago
0.67789
H1 duck price 60 bars ago
0.67548
M5 duck price
0.68124
H4 Duck
Strong slope higher entry above duck
H1 Duck
Strong slope higher entry above duck
M5 Duck
Strong slope higher entry above duck
Level taken explanation
Buying this pair on a break of the EURO resistance. Pair is bullish as seen by h1 and the h4 ducks. Pair is following the RTL upwards and the last 4 hour candle was a rejection from the .67972 and the RTL supports. Thinking this pair is ready for the next move higher
Sl Placement
SL is below the swing support
TP Placement
TP is set at resistance from December
Fundamental
Risks
Updates
Account Balance
389.05
Amount Risked $
3.89
Risked %
1.00%
$ Gained/Lost
-3.88
% Gained/Lost of trade
-99.74%
Gained/Lost % of account
-1.00%
Happened
Pair was bought in a uptrend during the EURO US overlap. Pair did move higher after he support rejection but ended up breaking below the RTL and then crashing to the SL
Improvements
I think the entry was fine on this. I think that the only way to improve would be to closed after the RTL breakdown. However the H4 chart still shows a strong uptrend and price still could have moved higher.
Buying pair at a break of the EURO highs. Pair is bullish as seen by h1 and the h4 trends. The h4 shows the price is being rejected from the .73942 and the RTL supports. H4 is forming a bullish pin bar. H1 is showing a evening star reversal pattern. Thinking price is done moving lower and is ready for another move higher.
Sl Placement
SL is below the .7394 support and also the swing support
TP Placement
TP is set at the last swing high
Fundamental
Risks
Updates
Account Balance
389.05
Amount Risked $
3.89
Risked %
1.00%
$ Gained/Lost
8.13
% Gained/Lost of trade
209.00%
Gained/Lost % of account
2.09%
Happened
Pair was bought after detecting the reversal pattern. Pair ran higher and I locked in gains and moved the TP up. Pair hit the higher TP
Improvements
Good entry in a good trend. Good I waited for the pullback to be over before buying. It was good risk management by locking in gains and also moving the TP higher to try and get more.
Buying AM. Pair is bullish as seen by h1 and the h4 ducks. Pair was rejected from the RTL with a bullish engulfing candle stick. Thinking the pair is ready to make the next run higher. Pair has broken the previous days high. H1 also shows an engulfing candle off the RTL.
Sl Placement
SL is below the
TP Placement
TP is set at the .7298 resistance
Fundamental
Risks
Updates
Account Balance
394.58
Amount Risked $
3.94
Risked %
1.00%
$ Gained/Lost
-4.09
% Gained/Lost of trade
-103.81%
Gained/Lost % of account
-1.04%
Happened
Trade went down after purchasing. Pair then broke the RTL and hit the SL n a strong 4 hour candle.
Improvements
The entry might have been a bit late from the support rejection near the beginning of the week. The trend was good though. There wasn’t much room for me to do anything with this trade since it was only 8 hours that the pair broke the RTL and then hit the SL as seen by the H4 chart. The USD strength was strong and too strong for the AUD in this case
Results from 2019-01-17. 3 trades were closed today. Trade 175 CHF/JPY was a gain. Trade 186 EUR/CAD was a loss. Trade 187 EUR/AUD was a loss.
Trade #
175
Session Set
EURO US OVERLAP
Date Set
2019-01-10
Time Set
5:31:00 AM
Session Triggered
EURO US OVERLAP
Date Taken
2019-01-10
Time Taken
5:59:00 AM
Session End
NEW YORK
End Date
2019-01-17
Time End
11:39:00 AM
Long/Short
Short
Taken At Market
N
Days Active
7.00
Hours Active
0.24
Total Time Active In Hours
86.83
Pair
CHF/JPY
Daily Range
88
Pip SL
50
PIP TP
100
R/R Ratio
2
SL % DR
56.82%
Entry Price
110.44800
TP Price
109.44800
SL Price
110.94800
H4 duck price
110.88200
H4 duck price 30 bars ago
111.82300
H4 duck price 60 bars ago
113.12700
H1 duck price
110.89900
H1 duck price 30 bars ago
110.63800
H1 duck price 60 bars ago
109.88500
M5 duck price
110.68500
H4 Duck
Strong slope lower, entry below duck
H1 Duck
Slope lower is resuming, entry below duck
M5 Duck
Strong slope lower, entry below duck
Level taken explanation
Selling pair at a break of the support created from the EURO lows. Pair is bearish as seen by ducks and I think it is ready for another move lower.
Sl Placement
SL is above the EURO highs
TP Placement
TP is set at the supports
Fundamental
Risks
Updates
Account Balance
396.55
Amount Risked $
3.98
Risked %
1.00%
$ Gained/Lost
5.45
% Gained/Lost of trade
136.93%
Gained/Lost % of account
1.37%
Happened
Sold the pair on the support break in a downtrend. Pair ran lower and almost hit the SL. Pair then fell back under the FTL and I locked in gains and the pair hit the ADJ SL.
Improvements
I think the trend was good, so was entry. I waited for the pair to finish its retracement and then sold it. SL wasn’t too greedy which is why it wasn’t taken out on the FTL run it made. Good I locked in the gains though. Good trade overall.
Selling the pair on the break of the EURO session lows. Pair is bearish as seen by the H1 and the H4 ducks. Thinking the pair will continue its move lower. H1 chart is showing that the pair broke the 1.5176 support, retested it and an engulfing candle pulled price lower sharply. Thinking price is ready to make a strong move lower
Sl Placement
SL is above the 1.5176 level
TP Placement
TP is set at the next support
Fundamental
Risks
Updates
Account Balance
390.59
Amount Risked $
3.90
Risked %
1.00%
$ Gained/Lost
-3.9
% Gained/Lost of trade
-100.00%
Gained/Lost % of account
-1.00%
Happened
Sold this pair on the break of the EURO lows. Pair ran lower and almost hit the TP but then reversed and hit the SL.
Improvements
This kind of frustrates me, it came very close to the TP. Trend was good and the entry wasn’t bad. Pair had broken the support and was failing to get back above. Just some bad luck on this one I think,.
Selling the pair at the break of the no session and Asian session. Pair is bearish as seen by the H1 and the H4 charts. Pair has broke below the 1.58613 level and a few attempts on the H1 were rejected. Thinking price is going to head in direction of the trend.
Sl Placement
SL is above the 1.58513 resistance as well as the FTL. Also above the Bearish pin bar on the H4
TP Placement
TP is at support from Dec 12
Fundamental
Risks
Updates
Account Balance
390.59
Amount Risked $
3.91
Risked %
1.00%
$ Gained/Lost
-3.9
% Gained/Lost of trade
-99.74%
Gained/Lost % of account
-1.00%
Happened
Pair was sold after the support break. Pair moved a bit lower but then spiked higher and made it above the resistance and hit the SL.
Improvements
The trend was good on this trade for sure. The issue I think was that it was at an extreme. I need to try to ensure I am selling or buying after a retracement rather than a impulse move.
Review from 2019-01-08. Two trades were closed Trade 190 EUR/CAD was a gain. Trade 193 USD/CAD was a loss.
Trade #
190
Session Set
EURO US OVERLAP
Date Set
2019-01-17
Time Set
5:36:00 AM
Session Triggered
EURO US OVERLAP
Date Taken
2019-01-17
Time Taken
7:39:00 AM
Session End
EURO US OVERLAP
End Date
2019-01-18
Time End
5:06:00 AM
Long/Short
Short
Taken At Market
N
Days Active
1.00
Hours Active
-0.11
Total Time Active In Hours
10.73
Pair
EUR/CAD
Daily Range
107
Pip SL
51.9
PIP TP
51.9
R/R Ratio
1
SL % DR
48.50%
Entry Price
1.51317
TP Price
1.50798
SL Price
1.51836
H4 duck price
1.52165
H4 duck price 30 bars ago
1.53890
H4 duck price 60 bars ago
1.54828
H1 duck price
1.51372
H1 duck price 30 bars ago
1.51849
H1 duck price 60 bars ago
1.52237
M5 duck price
1.51406
H4 Duck
Strong slope lower, entry below duck
H1 Duck
Strong slope lower, entry below duck
M5 Duck
entry below duck
Level taken explanation
Selling pair at a break of the support in the middle of the EURO session. Pair is bearish as seen by H1 and H4. If price touched the entry it will be a bearish rejection candle from the 1.51765 resistance and a move in direction of the overall trend
Sl Placement
SL is above the days high and the 1.5176 resistance
TP Placement
TP is at next level of support
Fundamental
Risks
Updates
Account Balance
383.06
Amount Risked $
3.84
Risked %
1.00%
$ Gained/Lost
3.85
% Gained/Lost of trade
100.26%
Gained/Lost % of account
1.01%
Happened
Sold the pair on the bounce from the FTL. Pair hit the entry in the EURO US overlap and went sideways. The CAD news came out and the pair fell to the TP.
Improvements
Entry was good I think, It was after the FTL bounce and in direction of the trend. Pair continued to respect the FTL so my analysis was good. TP and SL were both placed in strategic locations I think. Overall a good trade.
Selling the pair AM. Pair is bearish as seen by the strong H4 trend. Entry is taken after the CAD CPI news was positive for CAD pushing this pair lower. Pair broke the previous day support and there is a bearish engulfing candle on the H1. Think the pair has the catalyst to resume its move lower.
Sl Placement
SL is above the majority of the news candle
TP Placement
TP is at support
Fundamental
Risks
Updates
Account Balance
388.48
Amount Risked $
3.90
Risked %
1.00%
$ Gained/Lost
-3.74
% Gained/Lost of trade
-95.90%
Gained/Lost % of account
-0.96%
Happened
Sold this pair after the CAD news pushed the pair lower. Pair retraced however and hit the SL
Improvements
The trend was down on this as seen by the H4. The CAD news was positive for the CAD and the pair had broken the supports. I am surprised it did not move lower buy anything can happen. I don’t think this was that bad of a trade overall. Still surprised that the spike retraced.
Week 11 review. This week my focus was on to take trades that had more factors of confluence with them. Specifically I was looking to use my regular entry’s but combine them with support/resistance, fib ratios and candlestick patterns. I was successful at dropping my trades taken quite a bit and am mostly neutral on the week. I think focusing on trades that have multiple factors of confluence will reduce the quantity and improve the quality. Still have 6 trades open that are close to neutral overall.
Selling the pair on the break of the minor support on the M5 and the fall beneath the M5 duck. Pair is bearish as seen by the strong H4 trend. Entry is taken after the CAD CPI news was positive for CAD pushing this pair lower. Think the pair has the catalyst to resume its move lower as it was rejected at the FTL.
Sl Placement
SKL is above the FTL and the days resistance
TP Placement
TP is at a level of support
Fundamental
Risks
Updates
Account Balance
384.74
Amount Risked $
3.84
Risked %
1.00%
$ Gained/Lost
-3.84
% Gained/Lost of trade
-100.00%
Gained/Lost % of account
-1.00%
Happened
Sold this pair in direction of the trend after the CAD news report was released. Pair did not cooporate and the following week ran to the Sl.
Improvements
H4 was trending good but the H1 was a little bit flat. I did think the CAD news was good enough to keep pushing the pair lower but I was wrong and the SL was hit instead. Guess I could have waited for a stronger H1 trend.
Hmmm i haven’t quite got that far yet. If i discover a trend using the H1 and the H4 i am attempting to wait for a pullback and then a candlestick pattern indicating price is ready to resume in the direction of the trend.
Results from 2019-01-22. 4 trades were closed out. Trade 188 AUD/CHF was a small gain. Trade 189 NZD/CAD was a loss. Trade 192 CAD/CHF was a loss. Trade 195 AUD/NZD was a loss.
Trade #
188
Session Set
EURO US OVERLAP
Date Set
2019-01-16
Time Set
5:24:00 AM
Session Triggered
EURO US OVERLAP
Date Taken
2019-01-16
Time Taken
6:19:00 AM
Session End
EURO US OVERLAP
End Date
2019-01-22
Time End
5:28:00 AM
Long/Short
Long
Taken At Market
N
Days Active
6.00
Hours Active
-0.04
Total Time Active In Hours
71.58
Pair
AUD/CHF
Daily Range
53
Pip SL
31.6
PIP TP
119.6
R/R Ratio
3.784810127
SL % DR
59.62%
Entry Price
0.71052
TP Price
0.72248
SL Price
0.70736
H4 duck price
0.70145
H4 duck price 30 bars ago
0.69571
H4 duck price 60 bars ago
0.70055
H1 duck price
0.70862
H1 duck price 30 bars ago
0.70747
H1 duck price 60 bars ago
0.70498
M5 duck price
0.71007
H4 Duck
Strong slope higher entry above duck
H1 Duck
Strong slope higher entry above duck
M5 Duck
Entry above duck
Level taken explanation
Buying pair at the break of the EURO session resistance level. Pair is bullish as seen by the H1 and the H4 ducks. Pair is bouncing off the RTL and the H4 shows a bullish pin bar which is a reversal candle stick and a rejection from 61.8 fib. Thinking that the pair will resume its trend higher.
Sl Placement
SL is below the swing low and the RTL and the candle stick pattern
TP Placement
TP is at the .72390 resistance
Fundamental
Risks
Updates
Account Balance
382.56
Amount Risked $
3.82
Risked %
1.00%
$ Gained/Lost
1.12
% Gained/Lost of trade
29.32%
Gained/Lost % of account
0.29%
Happened
Pair was bought in a uptrend during the EURO break. Pair didn’t immediately go up but travelled along the RTL. Pair eventually spiked higher but it was sold off and I ended up closing for a small gain as the H1 trend changed.
Improvements
The entry wasn’t too bad since I bought after the bullish pin bar and in direction of the trend after price had retraced. Once price fell below the RTL it was good that I could see that the price was not as bullish as before and close my trade for a gain.
Selling pair Am. Pair is bearish as seen by H1 and the H4 ducks. Pair has broken below the .8974 support. Also broken the lows and EURO and US sessions. Pair seems to have bounced from he 23.6 fib and so I think this pair is ready to move lower again. A bearish engulfing candle was seen on the H4 as price was rejected from the FIB.
Sl Placement
SL is above the previous days US sessions highs
TP Placement
TP is at the swing support
Fundamental
Risks
Updates
Account Balance
390.81
Amount Risked $
3.90
Risked %
1.00%
$ Gained/Lost
-5.26
% Gained/Lost of trade
-134.87%
Gained/Lost % of account
-1.35%
Happened
Sold the pair after it broke the .8974 level. Pair was bearish and did run lower and hit the 1st TP, I moved the TP lower though to get extra gains and the pair reversed and hit the SL.
Improvements
Well it think the entry was good. The 1st TP was good but I guess I got greedy and instead of taking profits or at least derisking I tried to get extra and got burned.
Buying pair AM. Pair is bullish as seen by the H1 and the H4 ducks. Pair has broken the .747 resistance and the H1 shows two failed attempts to get back below it. Thinking the pair is ready to run to the next level of resistance
Sl Placement
SL is below the rejection candlesticks on the H1.
TP Placement
TP is set at the resistance
Fundamental
Risks
Updates
Account Balance
388.48
Amount Risked $
3.89
Risked %
1.00%
$ Gained/Lost
-4.25
% Gained/Lost of trade
-109.25%
Gained/Lost % of account
-1.09%
Happened
Bought the pair on the bounce off the support in direction of the trend. Pair ran higher but then stalled and fell lower. Eventually hit the SL.
Improvements
The trend and entry on this was good I think. I still think the pair will go higher I just think my timing was off on this trade. I guess I could have derisked it when the H1 duck started to lose its slope.
Buying the pair AM. Pair has broke the resistance. There is a good uptrend as can be seen by H1 and H4. Pair opened the new week at support and a RTL. Pair has created an engulfing H4 candle stick and I think the pair could be ready to run higher
Sl Placement
SL is below the H4 candle, the support and the RTL
TP Placement
TP is at the next resistance
Fundamental
Risks
Updates
Account Balance
388.40
Amount Risked $
3.84
Risked %
0.99%
$ Gained/Lost
-4.27
% Gained/Lost of trade
-111.20%
Gained/Lost % of account
-1.10%
Happened
Bought the pair after a bullish rejection form the support and RTL. Pair made it halfway to the TP before reversing and breaking below the RTL and hitting the SL.
Improvements
I think the entry on this was good. There was a good trend on the H1 and the H4 and I waited for a rejection from the support and RTL before buying. Shame price didn’t hit the TP but I think I would take this trade again.
2019-01-23 review. 3 trades closed today. 198 GBP/CHF was a gain. 200 USD/CHF was a loss. 196 GBP/JPY was a huge gain.
Trade #
198
Session Set
EURO US OVERLAP
Date Set
2019-01-21
Time Set
5:33:00 AM
Session Triggered
EURO US OVERLAP
Date Taken
2019-01-21
Time Taken
5:33:00 AM
Session End
EUROPEAN
End Date
2019-01-23
Time End
1:17:00 AM
Long/Short
Long
Taken At Market
Y
Days Active
2.00
Hours Active
-0.18
Total Time Active In Hours
21.87
Pair
GBP/CHF
Daily Range
119
Pip SL
73
PIP TP
120
R/R Ratio
1.643835616
SL % DR
61.34%
Entry Price
1.28466
TP Price
1.29643
SL Price
1.27713
H4 duck price
1.26415
H4 duck price 30 bars ago
1.25052
H4 duck price 60 bars ago
1.25074
H1 duck price
1.28324
H1 duck price 30 bars ago
1.27834
H1 duck price 60 bars ago
1.26787
M5 duck price
1.28226
H4 Duck
Strong slope higher entry above duck
H1 Duck
Strong slope higher entry above duck
M5 Duck
Strong slope higher entry above duck
Level taken explanation
Bought AM. Pair is bullish as seen by H1 and the H4 charts. There is a clear reversal off the RTL with a bullish pin bar and then a strong move higher in direction of the trend. Also a rejection form 23.6% fib. Thinking this pair will run higher and make the next move in the trend.
Sl Placement
SL is below the swing low
TP Placement
TP is set before the next resistance
Fundamental
Risks
Updates
Account Balance
384.53
Amount Risked $
3.83
Risked %
1.00%
$ Gained/Lost
6.21
% Gained/Lost of trade
162.14%
Gained/Lost % of account
1.61%
Happened
Pair was bought after seeing the reversal candlestick off the RTL in direction of the trend. Pair moved higher and i locked in gains. Then it spiked and hit the TP.
Improvements
Good analysis, good trend and good entry. It was good I locked in gains and also good I wasn’t too greedy. Entry was based on solid analysis of the trend and the reversal candlestick pattern that occurred off the RTL.
Buying pair AM. Pair is bullish as seen by the H1 and the H4 ducks. Pair has broken the resistance from the Asian session. Pair was rejected off the .9966 support and the RTL and made a H1 bullish engulfing and is in the process of finishing the H4 bullish engulfing. Thinking the pair will move in direction of the trend.
Sl Placement
SL is below the support, RTL and the candle stick pattern
TP Placement
TP is much higher at the next level of resistance
Fundamental
Risks
Updates
Account Balance
380.15
Amount Risked $
3.85
Risked %
1.01%
$ Gained/Lost
-4.03
% Gained/Lost of trade
-104.68%
Gained/Lost % of account
-1.06%
Happened
bought the pair after seeing the pair bounce from the support with a engulfing candle. Pair went sideways then broke down and hit the SL
Improvements
Well the trend on this was good. I had figured price would stick above the RTL and the support level but it did not. I don’t think the entry was that bad.
Buying the resistance break and the high of the session. Pair is in a H4 and H1 slope higher. Thinking that the H1 bullish engulfing candle off the RTL and the support at 140.765 is a reversal and the pair is going to resume its move higher
Sl Placement
SL is below the days lows, the FTL and the support at 140.76
TP Placement
TP is at the above level of resistance from December
Fundamental
Risks
Updates
Account Balance
388.40
Amount Risked $
3.84
Risked %
0.99%
$ Gained/Lost
17.56
% Gained/Lost of trade
457.29%
Gained/Lost % of account
4.52%
Happened
Bought the pair on a engulfing candle off the support. Pair kind of went sideways and was almost stopped out before launching higher. I moved my SL higher and locked in gains and the pair hit the ADJ SL.
Improvements
Good trend on this one. The entry was in a good spot. The SL was placed good and wasn’t too greedy. I think it was good that I locked in the gains because the pair is looking overbought.
2019-01-24. Today was mostly a good day. Lots of trades were closed out.
Trade #
191
Session Set
EURO US OVERLAP
Date Set
2019-01-17
Time Set
5:56:00 AM
Session Triggered
EURO US OVERLAP
Date Taken
2019-01-17
Time Taken
5:56:00 AM
Session End
TOYOKO
End Date
2019-01-23
Time End
11:33:00 PM
Long/Short
Long
Taken At Market
Y
Days Active
6.00
Hours Active
0.73
Total Time Active In Hours
80.81
Pair
GBP/USD
Daily Range
139
Pip SL
80
PIP TP
160
R/R Ratio
2
SL % DR
57.55%
Entry Price
1.29050
TP Price
1.30632
SL Price
1.28232
H4 duck price
1.27859
H4 duck price 30 bars ago
1.26993
H4 duck price 60 bars ago
1.26567
H1 duck price
1.28609
H1 duck price 30 bars ago
1.28568
H1 duck price 60 bars ago
1.28174
M5 duck price
1.28884
H4 Duck
Strong slope higher entry above duck
H1 Duck
Strong slope higher entry above duck
M5 Duck
Strong slope higher entry above duck
Level taken explanation
Buying pair AM. Pair is bullish as seen buy the H1 and the H4 ducks. Pair has been rejected off the RTL and formed a H4 dragonfly which signals the pair is ready for a move higher. A bit late to buy this but I was sleeping when it occurred however the trade is at a good level as it is near the break of the previous days resistance.
Sl Placement
SL is below the dragonfly
TP Placement
TP is double SL
Fundamental
Risks
Updates
Account Balance
383.06
Amount Risked $
3.84
Risked %
1.00%
$ Gained/Lost
7.14
% Gained/Lost of trade
185.94%
Gained/Lost % of account
1.86%
Happened
Pair was bought on the break of the consolidation and the dragonfly candlestick. Pair ran higher but stumbled. Almost hit the SL before launching higher again. I moved the TP higher and locked in gain. Pair hit the ADJ SL
Improvements
Good analysis of the trend. The entry was at a good level and it was good I spotted the reversal candlestick. SL was placed strategically but was almost hit. Good management of the trade near the end. Overall a good job.
Selling pair AM. The pair is bearish as seen by H1 and the H4. The pair also retraced in the EURO session and stopped at the FTL. Pair made a bearish engulfing on the H1 and is in the process of finishing the same H4 candle. Thinking price is ready to run lower after being rejected at the FTL.
Sl Placement
SL is above the days high and the FTL
TP Placement
TP is a level of support
Fundamental
Risks
Updates
Account Balance
380.15
Amount Risked $
3.85
Risked %
1.01%
$ Gained/Lost
4.02
% Gained/Lost of trade
104.42%
Gained/Lost % of account
1.06%
Happened
Sold the break of the supports in overlap. Pair did move lower but reversed and came so close to the SL. Then a spike lower hit the TP.
Improvements
I don’t think the entry was bad, it was a low sort of but there was a FTL in the way and I waited for a candlestick pattern to sell. The SL was a bit lucky and the TP was placed well.
Pair is resuming the slope higher, entry above duck
M5 Duck
Entry is above the duck
Level taken explanation
Buying AM. Pair is bullish as seen by eh H4 and the H1. Pair has goner sideways for several days and the duck is just starting to point higher. Looks like a bullish engulfing on the H4 off the RTL and I have a feeling this pair is ready to run higher.
Sl Placement
SL is below the RTL, and the swing support
TP Placement
TP is set on the middle of the next channel.
Fundamental
Risks
Updates
Account Balance
371.77
Amount Risked $
3.74
Risked %
1.01%
$ Gained/Lost
-4
% Gained/Lost of trade
-106.95%
Gained/Lost % of account
-1.08%
Happened
bought this when I saw the candle engulfing in direction of the trend. Pair fell though and brome the support and the RTL and hit the SL
Improvements
Well there was a uptrend as seen buy H1 and the H4 ducks. I don’t think this was necessarily a bad entry because I did look for the support, the RTL and the bullish candle.
Entry is AM. Pair is bullish as seen by the H1 and the H4 ducks. The pair has broke the resistance at the end of the EURO Session an is poised to make the next move higher. The H4 start shows a bullish engulfing off the 1.9085 support level and a strong move in direction of the trend. The level the bounce occurred is also a double bottom.
Sl Placement
SL is below the 1.91578 support
TP Placement
TP is at the next level or resistance
Fundamental
Risks
Updates
Account Balance
377.98
Amount Risked $
3.73
Risked %
0.99%
$ Gained/Lost
6.75
% Gained/Lost of trade
180.97%
Gained/Lost % of account
1.79%
Happened
Bought this a bit late but in direction of the trend,. Saw the reversal candles and bought in overlap. Pair went sideways then ran to the TP.
Improvements
Good trend and good job here picking up the bullish reversal after the retracement.
