Short selling triggered on GJ, goldy going down too. Ok off for today, enough made.
*Hope you guys caught gold, +50 on that drop, holding now all gold shorts on BE SL for possible dunk on 1222.
Pendings activated, guys long EU, short UCHF, short JPYs, and long EA. Holding +45 on pendings so far. Over 200 pips for today, mostly done with pending order trading.
Guys gold will drop more if you are doing trading over asian session or early london keep looking for short entries.
Not sure what I am doing wrong, I must be entering very badly.
Went with 3 entries today…
Short EJ, just margined out a few minutes ago and this was taken at -42 pips
Short GU, been holding for about 7 hours now, currently at -17
I saw a short on EU at 30m and 1h, but this was wrong also, I am sitting at -19 right now.
I did not get to be on any of them.
Strange thing on EJ is it appears to be going against head and shoulders (at h1 + h4) and there also appeared to be a broken wedge (down). I thought (at the time) this was my best entry of the day.
After EJ stopped climbing I shorted it again figuring it was bouncing off of the trendline that formed the head and shoulders, it stopped around 12 pips and starting coming back so I took +9 pips. Once it finished rising (so I thought) I shorted it again…so it then began another climb, later EU & GU spiked up about 8 pips, the end result…
I got margined out once again, for some reason my broker closed both my EU and my EJ positions:
another -32 pips on the second EJ short
-27 on EU
still holding a short on GU, currently at -35 pips, the SL is about 45 pips away, above the last M15 high. With big GBP news coming soon I may have to close this one at a loss as well.
for the day that puts me at:
-42, +9, -32 and -27 (total -92 and holding -35), which took about 18% of my account.
I don’t see anyone else posting their losses, is this considered a no-no, or am I the only one making bad trades?
I still believe this system will work, I just think my confusion on “false breakouts” and where highs and lows really exists is what’s screwing me up.
What really is messing with my mind is the fact that if I would have gone the other way on all of these I would have made about 120 pips (based on where each had run, I would have got +90 on EJ alone).
first i think half of your text did not show up. must some bug with babypips
open the daily and trade only with the trend
Short EJ, just margined out a few minutes ago and this was taken at -42 pips
AGAINST DAILY TREND
Short GU, been holding for about 7 hours now, currently at -17
AGAINST DAILY TREND
I saw a short on EU at 30m and 1h, but this was wrong also, I am sitting at -19 right now.
AGAINST DAILY TREND
Nothing to say against taking pullbacks, But set smaller SL and smaller TP
I made same error yesterday with 2 trades. I decided to avoid signals against trend.
good luck
Yeah, well my day just got better…
people must have known GBP news was going to be good because there was a sharp rise before the news, plus, when I started to see it go down (about 25 minutes before) I took out another short position, where it promptly turned and ran up (again), so I SLed out at the very top of the news peak:
2 shorts on GU: -63 and -93
For the day:
-42, +9, -32, -27, -63, -93 (total -243 ) got +5 on EJ scalping before news.
Plus now to rub my nose in it EU has dropped 27, and EJ has dropped 48 since I was margined out.
Anybody EVER had a day like this? I’d sure like to hear about it…misery loves company.
Sorry to hear about loses LaCamus.
Not sure where you shorted GU, seems like you shorted after that pullback up, which is not technically bad entry, but you had 2 chances before for much better entries on lows broken, where i took my shorts yesterday. Cant say for short on EU becouse i dont know where it was taken. EU is bullish above 1.3782 now. UCAD bullish above current high.
Later this day FOMC meeting and speech, should be strong move on gold, as well as pairs. Expecting NO TAPPERING. Result for gold is clear in that case for dollar could be a bit mixed becouse there are some other economic reports they have ahead so it depends on that too. If gold has buildup ahead i am long, risking all my yesterdays profits.
Took 20 pips on GA long (claimant counts) and lost most of it on EU long, strong battle going on in EU, interesting, lets see who wins. Bears winning would make it more interesting. GBP pairs will climb.
*EDIT: LaCamus we have been talking about Claimant counts report for GBP on sessions before, its most important economical report for UK. Do not trade shorts ahead of it , i have explained it has been bullish for last whole year almost every single month. Also expected that way, risking long ahead is ok, but short defenetly not. And yes marked did expect bullish data it was obvious in buildup of price, just like in previous 2 claimant counts.
Here are my thoughs about this…
Chaeck your MM:
If I am correct JP uses the following MM, which I am using for most trades aswell:
example: accountsize 1000 ,- USD, risk% 1% (=10,- usd) per lot
Trade EURUSD: SL is below prior high/low if this would be 50pips distance, your lotsize would be 0.02 (place 2x 0.02 lots = 20,- risk)
TP1 would be about 20pips (=5,- usd) and SL 2nd lot is moved to BE
TP2 is a runner …
Now your account wont have big drawdowns and your broker will not have to margin your account (kill orders)
I hope this helps.
EA double top, short bellow support.
Red day today for cryptocurrencies, massive capital loss from 10billion to 5 billion, gona wait for price to go lower and should be decent buy then. Not sure what made this selloff in 2 days.
Jan I’m long on GY. Where do you think I should place my takes… I always have a problem with that
The Cryptocurrencies lost after China’s biggest exchange banned new deposits
GOLD TRADING DECEMBER 2013 following the system rules:
M15
Screenshot by Lightshot
Screenshot by Lightshot
Screenshot by Lightshot
Screenshot by Lightshot
Screenshot by Lightshot
Screenshot by Lightshot
1.+200 +20
2,+80 +20
3. +20 +40
4.+20 BE
6.+20 BE
7.+20 BE
8.+20 BE
9.+20 BE
10.+20 BE
11.+20 BE
12.+20 +90
13.+20 BE
14.+20 +200
15.+20 +100
16.+20 +30
17.+20 BE
18.+20 BE
20.+20 BE
21.+20 BE
22.+20 BE
23.+20 BE
24.+20 BE
H1
Screenshot by Lightshot
Screenshot by Lightshot
1.+20 +120
2.+20 BE
3.+20 BE
4.+20 BE
5.+20 +100
6.+20 BE
7.+20 BE
OVERALL RESULTS: 0 loses, 30 wins =1500 pips profit
Thanks for info Moile. Nice call on GJ, was defenetly good idea to go long. You should have exited first trade on +20 and keep second one going if you followed system rules. In case if you opened only 1 trade then you should probably exit at current price.
I will eventually use your system like you do… but now I have only 1 trade open…
I did close… but I saw high being broken, so I got in again for a quick +20 pips 
Good Moile. Banked 15 pips on AU pending short, gona close ahead of FOMC. Alright fireworks in 30 minutes.
There she goes…talking about inside info again:D Hope you guys longed and followed what we were going trough previous lessons on Gold and FOMC connection.
You are going to laugh…
I thought I saw people shorting on volume before news so I took the chance and shorted UCAD and UJ, out -51 and -9
I saw your post on longing so when UCAD pulled back some I went heavy on a long to try to get some of that back, I got margined out again on 2 orders UCAD: -39 and -35
Have you ever seen anything like this? I could have flipped a coin this past week and done better.
----AS usual, I was margined out and UCAD popped back up 46 pips.
I hope everyone is using me as an example of what not to do…I think I will stop posting and start at square one again. I don’t want anyone who comes along to think that my losses are a result of this system.
Just wanted to attach the orders since Friday (moved to a non commission account on Friday) so you can see where and why I did what I thought was nearly impossible to do.
DetailedStatement-loss.pdf (7.23 KB)
LaCamus i will go trough all your trades could you just tell me if your brokers time is GMT+1 or if not what time is it?
I hope i will be able to see them with time difference but if not best would work if you would simply use Lightshot software and simply take screens where your entries were and use the same TF (if you remember) that you used for entry would help me best to define what was wrong.