Currency Pair: GBP/JPY
Long/Short: SHORT
Pips Gained/Lost:
Trade 1: TBC
Trade 2: TBC
Comments:
Wow, May was my last entry… Time flies.
So, I wasn’t profitable. I was enjoying the ‘game’ but I was never confident in my executions. I wanted to master price action with respect to a trend. The changing markets meant there was no consistency in my results as there was not enough consistency in my application.
I’ve been doing some reflecting on where I’m at; researching and really indulging in anything that feels constructive to me, and as a newbie in relative terms, whilst price action and identifying S/R levels are key ingredients to any approach, you need to have a bullet proof repeatable system to maintain the routine rules based execution to give you that long term edge over the market. What I’ve been trying is too vague in its methodology. Sure, pro/experienced traders could make it work; their toolbox is bigger than mine. I’ve learnt that this is a probability based game rather than an interpretation based game; not a discretionary (you were right/you were wrong) type of scenario. I wanted a system that takes the responsibility, for the winners but more importantly the losers! I wanted a binary, ‘go/no go’ type of system; something I could back test easily, prove over long periods was profitable across multiple currency pairs, to give me the best shot of staying consistent and seeing some progress. I’m confident my intuition and the nuances of the markets will become clearer the longer I stay in the game, even with a mechanical system.
So anyway, onto the new system which I’ve been trading with for about three weeks and have made a very modest profit with. Hopefully a profit that will gradually increase!
HyperTrend 2.0
The premise is to look for trend correlation on the D1 and H4 chart; and use the H1 to confirm the entry.
Simple.
But that’s actually a bit of a faff to monitor and indeed test; so I started looking into multi time frame trend indicators.
I already had an indicator called the ‘SSL channel chart’ (mentioned by VP himself on Nononsense FX; the context being in his opinion this is ‘not a completely useless indicator’ - which is actually quite an accolade from him, if you know, you know…)
So, I wanted to base my theory on the SSL; I found a multi time frame version of the SSL, and that’s about it. I mark the recent significant support and resistance on a trending market, put on my HyperTrend Template and I can immediately see on the H1 chart the trend on the H4 and the D1.
I dabble with volume by way of the attar explosion now and then; and pay keen interest on S/R and news (avoid); other than that I’ll have a quick scan of the charts, look for a fresh correlation of the three time frame trends and get in. Conversely, when the trend on H1 changes, that’s a close signal.
I’m being sensible with my money management too.
I’m coming back to journal my entries based on this methodology, it helps me to be accountable for my decisions and review ‘it’s’ (not my 
) losers.
Here’s what it looks like…
I’ll also post a back test snapshot too, I want to test more, but there’s already quite a bit of data; I’ve been on furlough, so I’ve had the time 
As promised - here’s my crude back test dashboard…
I should explain that I tested two of the currency pairs using just the D1 and H4 correlation; once I’m back at work full time, I may revert to this method.
Without an EA to chomp away at this it’s obviously impossible to replicate this back test, with live trading. But I wanted comparable thorough data to prove the concept initially.
Currency Pair: EUR/JPY
Long/Short: LONG
Pips Gained/Lost:
Trade 1: -27
Trade 2: -27
Comments: Not part of the strategy, but I fancy this to bounce from the MA
EDIT - Great start… 
Currency Pair: GBP/CAD
Long/Short: SHORT
Pips Gained/Lost: 
Trade 1: 8 pips
Comments: As above - not one for the hypertrend, so it’s on me when it fks up.
