Toposwope, I do agree with you.
I did ‘over risk’ at the start of December when I went short on the Euro with the USD and CAD on the same day (6/12), but then my other Euro shorts came in later as the risk ‘decreased’ GBP on the 12th, AUD on the 22nd and NZD on the 2nd of Jan.
Btw, where does the name toposwope come from?
1 new trade today.
With an entry to the Ichimoku cloud on Friday and an exit today
GBP/JPY 29/1/12 Short 120.639
Topo Swope is a real person. She was an actress who made some ‘so bad they were good’ films years ago.
I just did a google search and I see she has started a talent school. Looks like the acting career aint going so well these days…:54:
Hello Cyco,
Thanks for the update. What do you mean “an entry to the Ichimoku cloud on Friday and an exit today”
Does that mean it is a day trade only?
What is the tgt ?
Thanks
DD
@dubadat: I am trading on the daily charts. I look to place an entry on the 1st candle to close outside the cloud with a stop loss at the other end of it.
I have no target when entering a trade, just an exit signal when any of the following occur:
Candle re-enters the cloud
Crossing of Kijun Sen and Tenkan Sen (will renter if they recross in under 5 days with the market moving in the original direction)
ADX over 40 and turning down.
My stop is moved to trail the market using 2 times ATR (40) once that moves my stop towards the market.
I have found this system gives lots of ‘false breakouts’ (some are still profitable) but the winners are generally grabbed early and run a long way.
@toposwope: I cant say that is an acting school I’d be rushing to enrol in!
My AUD/JPY long positions where stopped out at 81.412. This gave +37.4 pips for my Conqueror entry, but -108.3 for my Channel entry
Closed my NZD/JPY trade for 66.2 pip gain
Ichimoku-
GBP/USD 31/1/12 Long 1.5765
Stopped out on yesterday’s trade for a loss of 54.2 pips, re entering today using a bigger stoploss
Conqueror-
GBP/USD 1/2/12 Long 1.58466
Conqueror-
EUR/AUD 2/2/12 Short 1.22764
This also hit the 55 day channel, but as ADX is still heading down does not qualify for an entry.
Yeah me either. But I do like indicators. They make analysis so much quicker.
My AUD/NZD short hit my stop for a 8.9 pip loss with the RBA not dropping rates today
Channel Trade-
AUD/JPY 7/2/12 Long 82.952
Ichimoku
EUR/USD 7/2/12 Long 1.32541
The AUD coming off the boil today has impacted my floating profit levels compared to yesterday, but overall I’m still up and not particularly concerned. Last night I had 13 open positions and all where positive, this morning I have added an extra one, but 2 are negative, by a small amount.
Ichimoku-
Eur/JPY 9/2/12 102.253 Long
My EUR/NZD short got stopped out for a 70.6 pip gain, whilst my EUR/AUD short made a loss of 61.2 pips. That I has a positive interest rate for both helped ensure overall profitability.
Channel Breakout-
CAD/JPY 10/2/12 78.032 Long
Also seeing a USD/JPY long entry, but my correlated risk is too high.
The close prior to the weekend hurt my floating profit, but upon re-opening this week it has climbed again.
New entry to market:
Conqueror-
GBP/JPY 13/2/12 122,541 Long
Exits based on Bishop:
GBP/NZD profit 643 pips
NZD/CAD profit 124.2
NZD/USD profit 327.8
Stopped out on GBP/USD for a loss of 112.5 pips
Well done mate, nice one.
Watch your Aussie longs, looks to have posted a lower high on the hourly GL
Stopped out on EUR/USD for a 140.4 pip loss
Stopped on AUD/USD for 322.7 pips gain on my Conqueror entry and 193.5 pips on my Channel entry.
Stopped on AUD/CAD for 121 pip gain.
On the 24th of this month I’ll have been using this system for 3 months, for a gain of just over 1690 pips at this point in time
Edit to include open positions in pip count
Channel breakout EUR/JPY 20/12/2012 Long 105.031