After those trades my capital is at this:
My current trades that I have on are for the recovery of what just happened.
AUDUSD position size - 600 T/P 30 S/L 15
EURUSD position size - 600 T/P 30 S/L 15
Closed both trades and new capital at $149.37
@Ben1987
Hi bro. Bit concerned over this statement. Strength is something gauged over months. Daily we are subject to the whims and whins of the market as they forward run order books balancing inventory. Looking at monthly charts it’s clear that the USD is weak and weakening. However it is reaching an important support zone. Thus it will react to speculation to create an illusion of strengthening.
Now, whether this starts bullish run on the USD time will only tell. But it will be played out over weeks and months. Our job as day traders is not to care. But to react to the here and now of the marketplace, get in and get out. Best of luck.
@Trendswithbenefits. Not interested in arguing with you. Just using the example and offering an alternate pov. Looks like the sarcasm crew still doesn’t want to play with you.
Every post from you Bob is an argument with someone…its the only reason you’ve posted directly after me…
If I say it’s black … you’ll say it’s white and visa versa… it’s just you Bob…
Not many of you Muppets left…left you to self combust with other members…
@Trendswithbenefits
@_bob
Listen… both of you Muppets need to have a tall glass of Milo or a cup of Moccona Geez
EDIT :
i reckon we should have a new section on this site… it should be called CAGE MATCH
The Rules will be
- There are no Rules
- No one can be flagged
- The site rules to not apply to this part of the site
- ENTRY IS STRICTLY VOLUNTARY
- 2 MEN ENTER 1 MAN LEAVES
it will be a place where friends can come together and kick the living crap out of each other (Virtually, of course) VR Goggles will be permitted
it will be a place where people like Bob can unleash their full potential.
Newbies will be sacrificed on a daily basis just for our pleasure
i reckon that’s not a bad idea
2 Likes
For some odd reason, I did some hectic overtrading last night, hence why I changed my position size to 500 today. I should forbid myself from journalising and trading at the same time, it affects my trading decision and makes me do spasm trading. I will display my trade plan rather than trade and journalise at the same time lol.
Current capital - (don’t deviate from the trade plan)
I have a position open for the AUDUSD showing signs that the USD is strengthening temporary and is correcting itself from the previous bullish run from all major economies.
AUD/USD day chart - position size 500 - T/P 60 S/L 30
AUD/USD 1hour chart - position size 500 - T/P 60 S/L 30
the upcoming news is from JPY at 3:30 pm SYD AUS time, hence why I have no position open for the YEN, I plan on closing my trade before the 7 pm SYD AUS time because news of EURO is coming out and will affect my trades.
As you can see, I do not use technical indicators but economic events and market trend to base my decisions. If I do poorly, I adjust my risk management according to my capital.
My trade idea at 7 pm is to close my AUDUSD trade.
Also, see whether the economic event is positive or negative and if it goes against the trend use it as a news retracement to continue the USD retracement, vice versa. Consider whether GBP - Average Earnings Index 3m/y is going to change support and resistance levels on the higher timeframe.
I might disregard trading the EURO news because GBP news has a very likely chance of changing support and resistance levels on the higher timeframe and focus on my GBP trade at 8:30 pm to see the new direction for my future trades.
This is my trade plan for the day.
Wouldn’t be able to write all my ideas but my capital is displayed and trading the news on GBP
GBP/USD - position size 500 - T/P 50 S/L 25
Oops sorry - premature !
Don’t worry mate, it happen to us all some time or other
2 Likes
Well, I made some mistakes last night and I need to be more patience in my trading which is probably going to be the hardest thing for me to develop, but good things take time.
watching the price action, take profit psychological points, bull exhaustion on the USD, high timeframe candlestick pattern close to complete. I will make a trade against the USD and believe its a high probability trade and all major economies will gain strength today. This trade will be held until 8:30pm.
My current capital is:
Current trades on:
GBP/USD - position size 500 T/P 50 S/L 25
AUD/USD - position size 500 T/P 50 S/L 25
The market probably overreacted from the news, hence why a little correction is highly likely.
My trading has been getting more profitable every week and hopefully next week, I’ll turn a profit.
Capital at risk is 2.29% for both trades.
once March starts, I’ll be aiming for a compound capital return of 3% a month, which in turn will turn into 42.58% yearly return. Whether I achieve this will be a question mark, but at least I have a target now for my year which is 40% since two months have passed roughly.
My current capital:
my the biggest win of the day was the USD/CAD trade which I profited $2.53
All major currencies have picked up strength against the USD today, and I will put my trade against the USD starting tomorrow.
Well done 
Do you follow @Dennis3450 thread about "strength and weakness " ? - It could help a lot if you like to follow those thngs.
Hmm, trendwithbenefits mentioned Dennis 3450 and I probably have a similar style, but I do not use technical analysis tbh as you can see. I base all of my trades solely on price action, economic events and market trend.
If I follow someone else’s style, it’ll probably affect my trading.
I am a scalper, Indra day and day trader, which I have noticed. Hence why it is difficult for me to journalise my trading compare to swing trading.
1 Like
Today, pretty clueless where the market is heading, but I know the market agrees that major economies against the US should be relatively stronger and should pick up next week. Since its Friday, the price should be consolidating for most of the day. I went long on the NZD and lost $0.58. But I think the market is indecisive also whether it should be up or down, making my current trade a high probability trade. Therefore I took another long position but at a better entry point on NZD.
NZDUSD position size 600 - T/P 50, S/L 25.
I was doing multiple timeframe analysis and noticed on the day chart that potentially NZDUSD could complete the bottom of the previous close yesterday, so I closed it. I lost $0.49 in that trade.
My capital :
The good thing I exited both trades when it didn’t go my way.
Since it completed yesterdays previous bottom, on the NZDUSD chart, is it time for the currencies to pick up strength against the USD today? Is the biggest question for me.
Do I want to double my risk exposure against the USD on the uncertainty of the trend, I will wait patiently to clarify my thoughts and only have one trade open, which will be the NZDUSD again for the third time but in a better position 
.
NZDUSD position size 500 - T/P 50, S/L 25
If NZDUSD breaks past previous days lows, then I will know that the USD will continue to strengthen for the rest of the day. Exit my NZDUSD trade and probably open two positions for the USD. It’ll probably be the USD/JPY long and some other currency.
Sorry for the delay, needed some time to work on myself.
Ok, after some self-actualisation and soul-searching 
, I wrote a trade system and a trade plan that I want to post for others to use or help me make improvements, whichever works. This trade system is not finalised yet, but if it helps someone get new ideas for their trade system, that’ll be great. I couldn’t upload the whole document, so I’ll just show step-by-step guide with my visual aid for decision making.
step visual aid.docx (383.7 KB)
Btw the profit target is not updated, but whatever you get the point.
I did end up losing more, however, all was not lost as I gained valuable experience to actually see which trade strategies would make sense or not. I also deposited an extra $320 on top.
As you described earlier about economic events, unfortunately, I came to the same conclusion and you do get mixed results trying to trade them. But the attempt was not futile but was helpful for me to recognize a lot of things about trading. For my swing trading decisions, I completely ignore economic events, however, with my day trading, I do not.
Anyways, moving forward, I have 3 swing trades on and 1-day trade on.
My swing trade positions are 500 with roughly a 1 to 2 RRR.
Swing trades on
GBP/JPY (500)- based mostly on trend line analysis
EUR/CHF (500)- based mostly on trend line analysis
EUR/USD (500)- based mostly on trend line analysis
I am a bit sceptical about my EURUSD trade, however, I am leaving it.
Day trade on
AUD/USD (600)- based on the higher timeframe trend line on D1 & W1 + SMA200 heading back to norm
I try to swing trade cross currencies and leave the Major pairs for my day or scalping trading.
Now I am recognising my GBP and EUR is positively correlated.
interesting post! I’m always looking forward to your post
1 Like
I lost on my AUDUSD day trade which was $1.53, however, I have a new day trade on ATM but wished it was the USDJPY.
USDCHF (600)- based on the higher timeframe trend line + SMA 200 H1
Fundamentals were in my favour and currently, my GBP/JPY is ATM 80 pip winner, I plan on closing this trade at the end of the week or next week.
which were:
1.Bre-exit is almost finalised, so it is possibly good news.
2. Japanese government is facing controversy on tampered documents.
Captial at
need to expand on exotic pairs eventually, but will do currency crosses for now.
I closed my USD/CHF, profit $0.08 trade because of big news coming out from the US in 30 mins roughly. but leaving my other trades on.