I think this is my 3rd attempt at a journal in here, and hopefully this time I’ll actually stick to it. I have 2 indicators and use my sentiment as a judgement on the signals as well as whether to close a trade.
I’ll post all the trades that get a signal as well as the ones that I take and post the results.
I look at weekly charts on the close, so take trades around market open time after the weekend. Hopefully I can stick to it even when work gets busy again in a couple of months.
There’s been a few signals triggered this year, but I wasn’t confident in many of them. The nature of the strategy is that multiple pairs often give signals together and I use fundamentals and currency strength to determine which to take, usually not all of them at the same time to avoid being over exposed to one currency.
GBPJPY - this was actually triggered before Christmas last year, but I was confident that the move was still strong so got in on it right at the end of the year and made a nice return. Had my lot size set incorrectly due to changing phone, so profit should have been double.
EURCHF + CADCHF - These both triggered together last week. I felt CAD was stronger so took that one. It had a real nice move early on in the week but then turned. I got out with a small profit and it then went below my entry although has since recovered. I was half tempted to keep it open because it’s a positive swap trade and I’m confident it will go up from here eventually, but I’ve been burnt by that before so locked in the profit I had.
CHFJPY* - This signal triggered this week, but I don’t think the JPY was more than a retracement so stayed out.
GBPCAD* - Also triggered this week. GBP has been strong, but it does look about ready to go down. Wasn’t confident either way so left it alone. Looks like it was probably a good signal though.