This will be my journal of my trades. I mainly trade audusd and mainly scalp during NewYork session and Asia session, there will be other pairs traded besides audusd (mainly Eurusd). Daily goal is 10 pips, 5 in New York and 5 in Asia. The only indicators I use are the 100 and 200 sma and fibs. I will be using technical analysis within the context of fundamental factors (news, sentiment, speeches by policy leaders etc.). My SL will never exceed 30 pips.
I am a purely discretionary trader, mechanical systems are a waste of time. The market changes dynamically and applying a static system ensures that eventually you will lose.
I will post my trades as soon as I can after making the trade and will include screenshots and a brief justification. Typically I will only have two trades a day.
All prices I state for TPs and SLs will be BID prices regardless if I am buying or selling. Also, profits and losses will not include my spread costs. My typical spread cost for this pair is 1.4 pips, so you can figure that into my net result if you want.
My posts are not to be taken as signals, this is a journal not a service.
I have a stop buy order at 1.0437
TP 1.0444
SL 1.0429
Edit: order filled
I have placed a stop order sell at 1.0425
TP 1.0419
SL 1.0430
Lower high formed off the rejection of yesterday’s high, and now we are testing a double bottom.
Edit: canceled
Ok… Closing this one out early
Pips gained: +4
Starting to stall and wanted to see a faster pop up to my TP… The stops at that level weren’t as large as I thought.
Ok closed the long for 4 pips gained
It was stalling and I was looking for a faster “pop” after hitting 1.0440 so the stops were not as big as I was hoping.
That was my New York session trade… More then likely will not take another until Asia opens.
I will keep an eye on it if it nears my short order at 1.0425.
I canceled my sell order at 1.0425 an hour ago, now it has reached the level… If it jumps up back to 1.04285 I will put the sell order back in place under the low
Ok it just jumped back above after touching the support line again.
I now have the sell stop at 1.0425 back in place
TP will be around the 200 sma at 1.0418
SL will be 1.0431
I am removing the sell stop at 1.0425 once again. I try to avoid entering trades at this time of day, especially short trades as in 45 mins any short positions will cost me negative swap. I will come back in two hours and put the sell stop back in place if price action warrants it.
Yeh yeh… Said I only trade audusd, but here’s a nzdusd setup I’m liking. Retail sales data missed expectations today, nudging the market into beginning to price in a rate cut.
Technically we are bouncing off a support at .8155, this has been tested enough times now where I think the next one will break through.
Sell stop @ .8157
TP @ .8145
SL @ .8160
Edit: order canceled, I will replace after one more test.
I have a buy stop placed at 1.0395, in case FOMC meeting minute release is risk positive.
TP is 1.0405
SL is 1.0385
Order filled… Long @ 1.0395
Whipsawed and stopped out.
Trade result: -10 pips
Weekly: -6
Sell stop placed @ 1.0376
TP @ 1.0366
SL @ 1.0386
Apparently the FOMC is being intercepted as risk negative… So I’ll sell at the swing low
Ok Eurusd has established a range I like…
I have stop buy order at 1.2783
TP at 1.2797
SL at 1.27595
And a stop sell at 1.27595
TP at 1.27452
SL at 1.27832
If one order gets filled then stopped, I will let the other enter in the opposite direction… If the first filled enter hits TP then I will cancel the other unfolded order.
I’m sorry I missed this. Looks like ShaunFenn got himself banned.
Something about ShaunFenn reminds me of Banker.
Same charts, same 100 and 200 sma, also trades the Aussie, and I notice from another thread that he is heavily into fundamentals as well.
Just saying, wish I had picked up this before so I could have asked him if he knew Banker.
