Went short the candle after the extreme candle - hadn’t quite pierced the Outer BB but came close enough I figured once I saw the price start to drop. Entered with 2 positions of 2 mini lots each. Stop was placed above the high of the extreme candle.
Was looking like a dud trade for a while and was thinking about exiting early with how the U.S futures were looking but price then started to drop down again and ended up closing out the first position at the Mid BB. Price then reversed and I closed out the 2nd position at breakeven. Will be looking to short it again on Monday I think.
Total P&L: +25 pips
Total Account Risk: 0.84%
R/R: 0.45
Account Balance: +0.37%
Overall Account Balance: +33.89%
First and foremost, you’ve been fantastic and any one who thinks you haven’t done well or enough is ungrateful.
Have you considered video bloggin like Cowabunga’s? I have faith in this DNA system, I’ve read the thread and the PDF material, and have tested few trades out. It will be amazing to know your thought process during live trading. I know you type few words under the pictures, but video blog would be a whole lot better. What do you think?
Hmm, hadn’t thought about it before. Wouldn’t be able to record anything actually during trading as I’m in work usually - boss might be giving me some funny looks. While I think about it I’ll maybe see about adding in some additional comments when writing about the trades.
Week 6 was a good week all in all. Though was certainly bolstered by the USD/CAD non-Bollinger DNA trade. At first I was only placing trades according to the method but it seems a few other types of trades are starting to sneak in. I’m not sure yet if that’s a good or bad thing. Will monitor it and see how it goes before making up my mind. Either way I’m finding the method useful for determining possible points of reversal even if they don’t tie in exactly with my entry rules and the BBs help me to define stops and take profit levels more easily which is something I struggled with before.
This week started off pretty badly for me. Made a bad call going long with USD/JPY and then got an EUR/GBP wrong. Luckily the Yen trade turned around and I was eventually able to close out it out breakeven. Maybe could have held onto it for longer for a profit but had too much risk tied up in it for my liking. Good lesson maybe about the risks involved in placing trades that aren’t with the method - didn’t have the same level of control I felt over the trade. Other trades using the method worked out for me initially before turning around and getting closed out at breakeven.
Wasn’t until Thurs. and Fri. that I managed to find some decent setups and make some good trades. Was a good week I guess for learning to be patient and trying to avoid losses where possible. The early part of the week could’ve been a good deal worse if I hadn’t closed out trades at breakeven. If I can make 4% every week that’ll do me just fine.
@PipBandit … that’s excellent, although you don’t have to do live video, Cowabunga doesn’t do live video…maybe in your spare time, weekend or something, you can just do a couple of video to show your thought process while you were placing the trade. This might be too much to ask for though, but personally I’m good with DNA Bollinger and your posts have helped to “practicalise” all Tymen’s theories. Btw where is Tymen these days? we don’t see much of him around here…
Went short with this pair at the CBL drawn from the extreme candle being cut in half. Stop was placed just above the high of the extreme candle and entered with 2 positions of 2 mini lots each.
Looked like were in a squeeze and I thought that a return to the Mid BB would be on the cards as EUR/USD looked like it was going into a similar holding pattern. Price dropped down to the Mid BB a while after and I closed out the first position there. PA then reversed course and second position was stopped out at breakeven. I was tempted to close out the 2nd position also at the Mid BB as I thought that this would probably go like this but I don’t want to get into the business of trying to predict the future so I’ll stick with the plan. This was the only trade I could find this morning to trade - missed everything else through getting started too late (travelling to work) and bad timing (GBP/USD).
Total P&L: +28 pips
Total Account Risk: 1.22%
R/R: 0.34
Account Balance: +0.42%
Overall Account Balance: +34.45%
Allta - no I don’t wait for the entry candle to close. I’ll enter once the PA goes through the CBL. Though just because PA has gone through the CBL isn’t an automatic cue for me to enter. I’ll be looking at things in general to try and figure out if it’s a trade I want to be in. PA approaching the CBL is a big factor of course though.
Went long after price had gone through the CBL drawn from the high of the extreme candle. Entered with 2 positions of 2 mini lots each. Stop placed a little below the low of the extreme candle.
Was a little iffy about this trade what with the ructions going on in the Japan PM’s party so planned to close it at night no matter what happened. PA rose up for a bit and I closed out TP1 at the Mid BB. With spread involved was only worth 4 pips. Price then fell back down fairly quickly and I closed out the 2nd position for a loss of 4 pips for a breakeven trade overall. In retrospect this was a bit of a nonsense trade to take - there was never likely going to be huge movements in this pair between the time I entered the trade and the time I was thinking to close it. I also should’ve closed it sooner once I saw PA start to turn as if I hadn’t planned on holding it open for long taking any profit would’ve been the smarter choice. More lessons to absorb for this newbie trader.
Total P&L: +0 pips
Total Account Risk: 0.65%
R/R: 0.00
Account Balance: +0.00%
Overall Account Balance: +34.45%
Went short once PA went through the CBL after retracing back from the 1.29 level. Between the bad German Zew report and the upcoming US Retail figures I thought that a clean break of 1.29 was probably not on the cards for now so short option seemed workable. Stop was placed above the high of the extreme candle. Entered with 2 positions of 2 mini lots each.
Price dropped fairly quickly after entry and TP1 was hit for +12 pips early on. Price continued to fall and I decided to hang in the trade once the lower Outer BB was hit as all the momentum of PA at that point was down and I wanted to see if it would push much lower. Reached the 3.3 dev line and next candle started to retrace so closed out the trade. With the US Retail figures coming in 2 hours I’ve no idea where this pair could go so I’ll take my profit and wait and see what happens next. Also have a USD/JPY long open at 83.31 and that’s enough open exposure for the moment for me.
Total P&L: +55 pips
Total Account Risk: 1.10%
R/R: 0.74
Account Balance: +0.82%
Overall Account Balance: +35.55%
Not a DNA trade this one. When price had dropped a couple of days ago I decided to go long this pair at 83.31. Entered with one position of 8 mini lots which was a bit heavy risk-wise for one trade but I thought downside would be reasonably limited. My thinking was that we were at an extreme for Yen and that there was a decent chance it would come around some. Was prepared to sit on this one for a while so woke up this morning to a nice surprise - trade of the year for me in fact. Thank you BoJ. Alas for it being demo money only. Closed out the trade at 85.00 first thing this morning when I woke up. Perhaps a bit premature and maybe should have closed some and let the rest trail - something for me to absorb.
Total P&L: +169 pips
Total Account Risk: 2.74%
R/R: 3.67
Account Balance: +10.06%
Overall Account Balance: +49.07%
Not a DNA trade this one either. Went short after price had hit the 3.3 dev. Jumped the gun a little early on this one. Was thinking that the rise was a bit overdone in that the markets weren’t following it. Ended with one position of 6 mini lots. Ended up closing the trade for a small gain this morning once price had come back off yesterday’s highs.
Total P&L: +10 pips
Total Account Risk: 2.41%
R/R: 0.17
Account Balance: +0.40%
Overall Account Balance: +49.67%
Similar to the EUR/USD before went short after price had leaped up. Entered with one position of 6 mini lots also. Similar to that trade had to endure some pain before things started to turn back. Closed out the trade earlier this morning once I saw it come back from the 1.5450 level and GBP news on the way.
Total P&L: +80 pips
Total Account Risk: 2.00%
R/R: 1.60
Account Balance: +3.21%
Overall Account Balance: +54.47%
Went long here once price pierced the CBL after the extreme candle. Entered with 2 positions of 2 mini lots each. Price had been consolidating for a good number of hours so I was thinking that a Mid BB trade was a reasonable probability. Stop was placed a little below the low of the extreme candle.
TP1 was hit pretty quickly for +19 pips. Had to go to a meeting at 2pm so moved stop to make a breakeven trade overall and put in a limit order a few pips below the Outer BB. With the way US futures were looking I was expecting to be stopped out at B/E but limit order was hit instead. I won’t say no to that. Today’s been my lucky day so far.
Total P&L: +62 pips
Total Account Risk: 0.65%
R/R: 1.24
Account Balance: +0.80%
Overall Account Balance: +55.71%
Went short the candle after the extreme candle once PA had gone through the CBL. Entered with 2 positions of 2 mini lots each. Stop was placed a little above the high of the extreme candle for some breathing room.
TP1 was hit quickly and closed out first position for +10 pips. Price reversed some pretty quickly and once it came back down to the CBL I decided to add another 2 mini lots to the 2nd position. Nothing much happened between then and going to bed so left the trade run overnight with a limit order placed at 1.2950 in case price got down that far. Got to the computer a little late this morning due to other work and missed out on the chance to get TP2 as price had gone back up to ~1.3015. While debating what to do price shot up and stopped me out. In retrospect adding the 2nd lot was a bad decision - added it at a time not long before the US markets closed which made holding overnight more likely. Bit of a pointless risk - think I was just being a bit blasé due to earlier wins which isn’t a good habit to get into.
Total P&L: -32 pips
Total Account Risk: 1.62%
R/R: -0.59
Account Balance: -0.95%
Overall Account Balance: +54.23%
In retrospect adding the 2nd lot was a bad decision - added it at a time not long before the US markets closed which made holding overnight more likely. Bit of a pointless risk - think I was just being a bit blasé due to earlier wins which isn’t a good habit to get into.
Analysing the psychology of your trades like your doing is important to keep training the mind into ‘what to watch out for’ that may undo all it’s good work.
Here is the holy grail for all to see… consistency.
Went short after price hit the CBL when retreating from the Outer BB. Entered with 2 positions of 2 mini lots each. Stop was placed a little above the high of the extreme candle.
PA dawdled around the CBL for a bit before dropping down to the Mid BB where I closed out the first position for a small gain. USD began to strengthen then and as I had an open EUR/USD short from earlier this morning at 1.31 felt like I had to make a choice between this trade and the EUR so closed out the 2nd position at a pip over breakeven as markets seem like they might be heading down a little. We’ll see how it goes.
Total P&L: +9 pips
Total Account Risk: 0.47%
R/R: 0.25
Account Balance: +0.12%
Overall Account Balance: +54.41%
