Hi Guys
I want to trade, analyze and share my success and failures in this journal. My first target for the end of this year is 12 000 USD profit.
Strategy description - basket trading of currencies depend on currency strength.
I will provide you a full description of the strategy by sharing articles I’ve done before.
CADJPY MKT Buy - 10 000 - 94.933
CHFJPY MKT Sell - 12 750 - 108.506
CADCHF STOP Sell - 10 000 - 0.8645
CADJPY MKT Buy - 6250 - 94.974
CADCHF STOP Sell - 6250 - 0.8645
It seems that my trades are on the good way. I would like to transfer potential of the trade from low volatile pair CADCHF to one of the high volatile trades. I will manage position by partial close around level 0,8800 maybe higher, depend on market dynamic.
It seems that your view is further weakening of Yen against majors. Did you short CHFJPY as a way to hedge against your other positions?
No these 3 trades on the pictures are JPY neutral…
I bought same ammount of JPY on one pair and I sold same ammount of JPY in other pair.
this trade is 100% CAD/CHF bullish outlook. If I will hit my target, I have 4 options
1 close both of the pairs
2 partial close
3 close one trade and use second as runner
4 move SL on both pairs and wait which one going to be runner
this setup is bit complicated. you can check my strategy description on my blog Airmike-Trading
End of the week - Weekly update
Profit from positions this week - [B]26,78 USD[/B]
Profit from contests this week - [B]300 USD[/B]
Weekly Performance gain - [B]4,91%[/B]
For additional info and performance chart see my blog Airmike-Trading
Ah it is my mistake. I see now the idea that you’re expressing through your positions. Could you upload larger file sizes? Otherwise it is a bit difficult to see the charts and statements. I read through your dukascopy articles. Congrats on your contest earnings. Your approach to the foreign exchange markets is akin to triangular arbitrage. Oh and I do like this bit: If you are traders, try to think about market, not charts.
Anyways, unique and smart. Very nice.
I was able to see the charts clearer on your blog.
If I understand this correctly you are expressing your bullish view on CADCHF by structuring your trade as Long CADJPY and Short CHFJPY. Your statement shows you entered two long positions CADJPY (was this a mistake were you realized you did not enter the correct size position the first time?) I assume it was accidental as the two positions are only 4 pips apart. My last and most curious question is: Why is there an open buy order on CADCHF?
Yes you are correct I opened two long position on CADJPY because I made a mistake in calculation.
I dont have any open BUY order on CADCHF. I have just CADCHF STOP Sell order. This order is stoploss. If I am in position CADCHF by CADJPY and CHFJPY then best solution is put your SL to CADCHF pair.
Now I see that is not possible zoom in my pictures.
Actual profit from open positions [B]46 USD[/B]
EURNZD MKT [B]Buy[/B] - 5600 - 1.61117
EURAUD MKT [B]Sell[/B] - 5000 - 1.43646
