I will start to post my trading ideas, entries, results, etc on here. Feel free to provide input and ask me any questions!
What is the goal behind your calls…
Income, maximum returns etc?
about 1-3% gain a day,no more than 3 trades a day
Compounded, that is a nice little return at the end of the month.
I look forward to see some of your trades and thoughts around them, good luck to you.
Friday 8/23/2019:
EURUSD - buy
Reason: DXY created a double top situation, and EURUSD correlates with the DXY index
price on EU clearly broke out of support, but I was closely watching the DXY to determine direction.
Also, news came out at US open that China imposed tarrifs on more US goods, so I knew the dollar was going to drop,so I placed a buy stop for EU
Entry: 1.107560
SL: 1.10650
TP: 1.11040
WIN - $113.60
this is way past my daily goal, so no more trades today. Let’s see what next week brings. I will also post my analysis on a few pairs I’m looking at for next week
Monday @ 3am EST
8/26/2019
EURUSD - sell stop @ 0.3 lots
Entry: 1.11316
TP: 1.11020
SL: 1.11416
UPDATE:
9:20am EST
closed trade out early @ 1.11218 for $29.40 (~10 pips)
I really just wanted to lock in on my profits before getting into an unnecessary
drawdown. I probably could have kept it open to hit my original TP, but profit is profit
Post US Session Thoughts:
I definitely could have held my trade open because it did in fact hit my original TP @ 1.11020, but no money was lost…only earned, so I can’t complain. I just need to be more confident in my analysis and not close too early. I need to give my trade time to play out. I closed this trade a little after 11am EST, so I had enough time before the session ended to see how price played out.
Monday @ 2:50am EST
USDJPY - buy stop @ 0.2 lots
Entry: 105.689
TP: 106.148
SL: 105.439
UPDATE:
8:57am EST
trade hit TP @ 106.15 for $86.86
I almost forgot that I started this lol but it’s Christmas week, so I won’t be placing too many trades. I am keeping an eye on EURUSD though, since it looks like it will continue to the downside. I’m looking for price to pullback (which it’s already doing) to one of the two previous resistance levels, then make its move from there. Sooo let’s see what happens.
GBPUSD is already headed down. I was thinking about initially setting a sell stop, but wanted to wait for confirmation first. I missed the slight pullback it made on the 15min for me to get in, but right now I’m waiting for another good entry for this pair
AUDUSD is on my watchlist also. It’s currently at a nice resistance level, so I’m looking for what price is doing at this level. It created a bearish engulfing at resistance, so it could be a short term sell. Overall, if you look on the weekly chart, AUD has broken into the weekly support and looks like it could be a long term buy for the new year.
UPDATE:
I ended up going LONG for EURUSD with TP at 1.11710 resistance, and LONG for AUDUSD this week. I might hold out the AUD trade. I set a TP at around 0.70650, but knowing me I’ll just close it before the day ends and find another entry next week lol. I stayed out of GU. I’m currently up 45+ pips for AUDUSD, and was able to grab 73 pips for EURUSD, with a total of 2 trades for Christmas week
It’s the new year and I’m going in full throttle this year for sure! I barely placed any trades this week so far, but I found a nice setup for AUDCAD, as well as NU & GU this morning.
I entered AUDCAD on New Year’s Eve for the sell. Price came to a major level of resistance on the daily, and formed an evening star. TP is at 0.89968
NU gave me a nice setup also. I entered early this morning for the sell, and caught about 33 pips
Same bias for GU this morning also. The trade is currently still open, up about 55 pips so far. SL moved to break even