My technical 'HyperTrend' strategy journal

Thanks @The_Baller :+1:
On a completely different subject, can I ask a quick question…
I swapped my forex trading account with Oanda for a spreadbetting account with the same broker at the weekend based on some reading I was doing relating to tax. Would you say that was a wise move based on the fact we’re in the UK? Seemed like a no-brainer with only a few minor nuances difference in terms of practical everyday use. Keen to hear your take as a successful UK based trader - are there potential banana skins I need to be aware of?
Ta mate…
Cleared 200 pips shorting GBP/CAD and GBP/NZD today so far thanks to your framework and a bit of price action :money_mouth_face:

No worries. You are on a roll.

It’s a smart move, spread betting profits are exempt from capital gains tax (CGT) in the UK.

The last thing you want is HMRC on your case, trust me.

Apart from that, you can just trade the way you were before - nothing to be worried about.

1 Like

Currency Pair: AUD/JPY
Long/Short: SHORT
Pips Gained/Lost: :yum:
Trade : +40
Comments: Did my prep at the weekend and this was the first of four entry orders. Still waiting for this one to turn having triggered. Hoping the retracement will end soon and tomorrow will head back in my direction. M and W is bearish. Expecting it to reach the previous recent low at least for ~85 pips if I’m right.
EDIT: This hit 40 pip ATR take profit - at the time I didn’t have enough margin for T2 with other trades placed, having only swapped some of my account balance to my new spread bet pot :roll_eyes: could’ve been more tbf; still, a win is a win at this stage.

Currency Pair: GBP/CAD
Long/Short: SHORT
Pips Gained/Lost: :money_mouth_face:
Trade 1: +71.8 pips
Trade 2: +300
Comments: M and W bearish - GBP brexit shenanigans and price action led me to feel like this was heading south. It’s exceeded expectation already with key support broken. Taken profit already so letting T2 run, for now at least.

Currency Pair: GBP/NZD
Long/Short: SHORT
Pips Gained/Lost::money_mouth_face:
Trade 1: +103
Trade 2: +222
Comments: I fking love this one… Decent entry, M and W downtrend with room to go until @The_Baller 's true W/M support level. Barring any funny business (yeah right) I can see this running IF I can hold my nerve. Really gonna try… Be reassuring to see it pass this recent structure though… :sweat_smile:

Currency Pair: NZD/CAD
Long/Short: SHORT
Pips Gained/Lost: :yum:
Trade 1: +52
Trade 2: +43
Comments: More of the same in terms of entry here - its coming good but not been as much fun as my GBP’s. Felt like this was heading all the way down to previous support so I’ll TP on T1 just before and see what T2 does after - just hoping it keeps heading the way it is. Again M and W feel like this is a solid sell short.

Currency Pair: AUD/CHF
Long/Short: SHORT
Pips Gained/Lost::grin:
Trade 1: +32
Trade 2: +103
Comments:

Currency Pair: AUD/CHF
Long/Short: SHORT
Pips Gained/Lost:
Trade 1: +64
Comments: Scaled in on this following previous take profit as I think it has further to go
Bit concerned about the .68000 psychological level 10 pips away though…:thinking:

Currency Pair: NZD/JPY
Long/Short: SHORT
Pips Gained/Lost: :yum:
Trade 1: +40
Trade 2: +129
Comments: Kijun cross in the direction of trend. Plenty of room on the weekly in terms of support levels. Most importantly, no news due.

Currency Pair: EUR/GBP
Long/Short: SHORT
Pips Gained/Lost: :yum:
Trade 1: +60
Trade 2: +45
Comments: This chart just says it all. Can’t be as easy as this can it?
EDIT: Manual exit to avoid news. Correct decision…

Weekly summary:
16 Trades
100% win rate
1400 pips
13% Gain

If only every week could look like that…

Currency Pair: GBP/NZD
Long/Short: SHORT
Pips Gained/Lost: :expressionless:
Trade 1: +82 pips
Trade 2: -190
Comments: PA on a downtrend - not much else going on. Win by not losing, not much else happening for me so far this week so far.

EDIT - following the first win, this rebounded due to news volatility - note - stick to moving the SL on my second trade following a win on the first, despite what the chart looks like.

Currency Pair: GBP/AUD
Long/Short: SHORT
Pips Gained/Lost: :yum:
Trade 1: +90
Trade 2: 0 SL
Comments:

Currency Pair: GBP/NZD
Long/Short: SHORT
Pips Gained/Lost::yum:
Trade 1: +93pips
Trade 2: 0 SL
Comments:

Good to see that you too use the Waddah Attar Explosion

I found a NNFX mixed with BTMM Telegram signal provider named Signature Traders who used the settings on 2000 deathpip zone

It works really good for me try it out too if you wish

why dual entries?

how do you use the WAE?

Cheers I’ll have a search and check it out.

To be honest I don’t really use it heavily anymore. I was only looking at trades that had enough volume to be above the yellow (MA?) line at one stage; but I’m focusing more on price action and ballers W and M s/r zones these days.
Not looking so hot this week so far though

So if I’m right, I take profit at ATR or chart structure depending on what makes sense, but leave trade 2 to run, gets profit off the table and risk free second trade having moved my original SL to entry point. Sometimes it works, sometimes pings out on reversal, either way I’m not losing. Unless of course I’m just very wrong in which case both trades hit SL, never more than 2% account, happening less these days now I’m wise to the SL hunting - feels risky but as @The_Baller says, long term trend on W or M is the one to watch really, if you’ve got the spuds for it