Went short as price dropped down through the CBL after the NFPs release. Entered 3 positions of 1 mini lot each with the stop drawn at the high. Price fell rapidly and I closed out the first 2 positions just under the mid BB to lock in some profits. Price turned around rapidly and I stopped the last position early but still at a small loss. Probably got lucky with this trade - all other pairs were rising up. Sure wish I’d stayed in my previous USD/JPY short though - ahhhh hindsight.
Total P&L: +3 pips
Total Account Risk: 0.62%
R/R: 0.21
Account Balance: +0.13%
Overall Account Balance: +6.58%
Missed out on the good moves in this pair and others today so tried to play a counter-trend move with USD/JPY involving going long after it hit the 3.3 dev. I wouldn’t even consider this normally but in this case it was near the 85.00 level which I thought would offer a lot of resistance. Also price had dropped ~100 pips at this stage so with an entry of 85.16 after spread and a stop of 84.90 I figured it was worth a go. Entered a total position of 3 mini lots with the intention of closing the first two if price hit the 2.0 dev.
Took about 40 minutes but TP1 was hit so I closed two of the positions there and left the 3rd open in case price kept on going. Moved stop to break-even to protect myself from any loss on this trade. Price then fell back down and 3rd position was stopped out.
Total P&L: +16 pips
Total Account Risk: 0.73%
R/R: 0.41
Account Balance: +0.30%
Overall Account Balance: +6.90%
Bit of a mixed bag this week. On the plus side made +2.14% / +184 pips for the week while never really risking more than 1% on any one trade apart from the one trade. But I definitely could’ve done better if I’d been a bit wiser about a few choices. Missed out on every BB walk during the week which left me chipping away adding to the account with low R/R trades. I will try Tymen’s new method he described for BB walks at some point later - want to practice with this initial method alone just for now.
At least losing trades have been kept to a minimum so far (2 trades out of 22 in total) which is a pleasant change to some of my trading previously. I’m encouraged to try and up the risk a little next week as I’d like to get just a bit more of a % return if possible.
Great job. I like the clear & concise format you use to show your trades. I am even more sure now that I need to keep better records of my demo trades, definitely including charts. It looks like there are plenty of us trying to ‘master’ Tymen’s methods. Lets hope we win!
I must also admit that I took a couple of your ‘not-so-good’ trades as well (as well as others). We live & learn. And you have done a fantastic job of unemotionally cutting a trade short at BE instead of taking a loss. This is something I’m still coming to terms with. I think I will be incorporating some of your thoughts into my trading plan this week to see if I can also minimise my losses.
Went short with 1 position of 2 mini lots and another position of 1 mini lot at about 9am GMT after price went through the CBL line drawn more or less halfway through the Extreme Candle. Stop was placed a little above the Extreme Candle for some decent breathing room. PA just dawdled around there for hours and with other pairs dropping and this holding onto it’s level I was half thinking about closing the trade.
Fortunately decided to hang in there and PA dropped down to TP1 where I closed the 1st position of 2 mini lots for +28 pips. Price then continued down some and stop was moved to B/E. I decided then to close out the trade completely just a short while ago as I don’t feel comfortable betting on continued USD strength.
Total P&L: +71 pips
Total Account Risk: 1.91%
R/R: 0.49
Account Balance: +0.93%
Overall Account Balance: +7.89%
Went long with this trade at about 9am GMT also. Price had dipped below the CBL and was then starting to come back up again so I decided to jump in about 10 pips before the line. Stop was drawn a little below the Extreme Candle. Entered two positions of 1 mini lot each.
Similar to the GBP/USD nothing happend for quite a while before price then took off. TP1 was hit for +46 pips around lunchtime and I moved stop to B/E at that point. After price rose up some more I moved the stop up further to lock in some profits.
Decided to close the trade out fully now though as I don’t want to bet on continued USD strength. Might well be proven wrong but I’ll take my profit for Monday and move on.
Total P&L: +120 pips
Total Account Risk: 1.45%
R/R: 0.76
Account Balance: +1.11%
Overall Account Balance: +9.09%
Went long with this trade, entering 2 positions of 2 mini lots each just a couple of pips before the CBL. Stop was tight at just 18 pips below so risk wasn’t too bad.
TP1 was hit just a few minutes after entering the trade for +7 pips. Price then fell back down and like other trades I don’t want to bet on USD strength any more today so closed the 2nd position out at breakeven.
Total P&L: +7 pips
Total Account Risk: 0.66%
R/R: 0.19
Account Balance: +0.13%
Overall Account Balance: +9.23%
Thanks for all these excellent trade charts and reasons why you’ve taken the trades you did. This information is invaluable to beginners (like me) that are trying Tymen’s methods.
You’re welcome Akhor - though you’ll see me make my fair share of mistakes too. Like closing those 3 trades yesterday evening. Probably should’ve been more aware of how things were going and let those last positions either ride out or be stopped out. Another lesson I guess
Went long in this pair from the high of the Extreme Candle with two positions of 2 mini lots each. Stop was a few pips below the low of the Extreme Candle.
TP1 was hit fairly quickly and the first position closed out for +5 pips. TP2 was hit later when the price hit the Upper Outer BB but the bands were expanding so decided to wait and see how things played out. After price then rose up and touched the 3.3 dev I closed a little below that point.
Total P&L: +42 pips
Total Account Risk: 0.66%
R/R: 1.17
Account Balance: +0.77%
Overall Account Balance: +10.07%
Went short at the CBL drawn from the low of the Extreme Candle with one position of 2 mini lots and another position of 1 mini lot. Placed the stop a little above the high of the Extreme Candle. BB bands looked like they weren’t expanding so much at the time of entry.
This trade went completely wrong for me. Price went up shortly after entry. It then hung around at 1.3875 mark for a while and I was debating what to do with as even though EUR/USD was dropping EUR seemed to be strengthening against the CHF indicating USD strength and not EUR weakness. Price then jumped up quickly to near my SL and then took another spike up to go 20 pips past my SL. Probably should’ve realised sooner how this wasn’t working out and killed it earlier at the 1.3875 level for a smaller loss instead of getting spiked out at 1.3900. Need to speed up my analysis and reactions seems like.
Total P&L: -104 pips
Total Account Risk: 1.42%
R/R: -1.00
Account Balance: -1.42%
Overall Account Balance: +8.51%
Went short at the CBL drawn from the low of the Extreme Candle. Stop placed just above the high. Entered two positions of 2 mini lots and 1 mini lot. After missing out on all the good trades and making a mess out of an earlier trade this was about the only opportunity I could spot.
TP1 was hit and 2 positions closed for +11 pips. Price dropped down a bit further but stopped at a support line which has held since the start of August. With the upcoming news and such figured I’d just close the 2nd position out here and see where things lie later tonight.
Total P&L: +33 pips
Total Account Risk: 1.08%
R/R: 0.38
Account Balance: +0.41%
Overall Account Balance: +8.95%
Tried to play a similar trade to a previous USD/JPY one from last week where the price hit the 3.3 dev down near the 85.00 level. Went long with 2 positions - 1 for 2 mini lots and the other for 1 mini lot. Stop was placed 15 pips underneath the 85.00 level just in case a run was made at it.
TP1 was hit for +20 pips after about an hour and as I was heading to bed at this point I moved the stop on the 2nd position to breakeven and let it run overnight. SL got clipped during the night and was stopped out.
Total P&L: +20 pips
Total Account Risk: 1.10%
R/R: 0.33
Account Balance: +0.37%
Overall Account Balance: +9.35%
Not a Bollinger DNA trade this one - was just an attempt to fade the FOMC news rally. Went short at just under 1.59 with 2 positions of 1 mini lot each. Stop was placed at 1.5930.
Closed out TP1 manually once I’d made +30 pips. Was getting late at this point and was off to bed so moved stop to breakeven and let the 2nd position run overnight. When I woke up this morning price had dropped down quite a bit further and as it was getting close to some important UK news at 9:30am I decided to close out the trade, take my profit and see where things stand later this morning.
Total P&L: +151 pips
Total Account Risk: 0.59%
R/R: 2.36
Account Balance: +1.38%
Overall Account Balance: +10.86%
Missed out on all the good trades today through some bad timing and perhaps being over-cautious closing out an earlier open trade. Anyway after the carnage had settled a little went long in a squeeze at the CBL drawn from the high of the Extreme Candle. Entered one position of 2 mini lots and another position of 1 mini lot. Stop was placed a little below the low of the Extreme Candle.
TP1 was hit fairly quickly as the pair bounced up after testing under the 85 level. It looked to me like we were back in the congestion zone from yesterday and as this pair seems to be channeling down I decided to close the 2nd position just now to wait and see how things pan out.
Total P&L: +56 pips
Total Account Risk: 0.87%
R/R: 0.79
Account Balance: +0.69%
Overall Account Balance: +11.62%
Tried to position myself for a retrace of some of yesterday’s steep decline. Went long at the CBL with two positions of 1 mini lot each. Went in a bit smaller than usual as this was counter-trend and there was some upcoming AUD news that was going to make this trade a bit of a gamble. Would either get stopped out quick or would do really well.
Price dropped rapidly after the news though recovered later as can see by the long red candle in the chart. Unfortunately dropped enough to take out my stop and both positions closed. Always knew this trade was a bit risky but thought it was worth a little go so not too disappointed.
Total P&L: -72 pips
Total Account Risk: 0.61%
R/R: -1.00
Account Balance: -0.61%
Overall Account Balance: +10.94%
Went short at the CBL with one position of 2 mini lots and another position of 1 mini lot. Stop was drawn a little above the high of the Extreme Candle (which didn’t quite pierce the upper BB but came within 2 pips).
TP1 was hit pretty quickly so closed out the first position for +21 pips. Pushed past the mid BB for a bit then over the next hour but not much downward pressure happening. Have some stuff to do this morning so might not have been able to see how things were going for this. So rather than wait and maybe have the trade go back to breakeven I closed out the 2nd position to lock in the profit and erase the AUD/JPY loss earlier.
Total P&L: +46 pips
Total Account Risk: 0.70%
R/R: 0.86
Account Balance: +0.60%
Overall Account Balance: +11.61%
As was away from the computer this morning missed out on some nice EUR/JPY and GBP/JPY trades which would’ve worked out very nicely. Anyway, went short with USD/CAD at the CBL which is drawn from the Extreme Candle cut in half. As risk was tight entered two positions of 2 mini lots each. Stop was drawn just above the high of the Extreme Candle.
TP1 was hit not long after for +7 pips. Had to head out for lunch so set stop on the 2nd position to make a max loss of -7 pips to leave me with a breakeven trade overall. After some bad US data price went up a little and took me out.
Total P&L: +0 pips
Total Account Risk: 0.68%
R/R: 0.00
Account Balance: +0.00%
Overall Account Balance: +11.61%
