Missing the entry on GBP/AUD was based on the Weekly direction long with the Daily Pattern Head and shoulder. It should have been on my watch list missing an 3.8% Gain.
Hello, I am back at it. Market hasn’t offer any opportunities. I have mainly been trading counter trend and sometimes with trend. I have been working on a trending strategy but having completed it yet (well got lazy). Actually, working on improving my management and get the new strategy going.
Weekly Watch-list: 1/13/19
EUR/CHF - Long
Weekly - Deceleration and double bottom at support at 1.1190 with a strong bullish candle this week.
Daily - Head a shoulder possibly forming to confirm the long bias on the week.
Waiting for the possible H & S pattern to confirm. Looking to take entry on right shoulder
Hey, currently finishing up my watchlist. Forgot to post this but first trade for the year. Waiting to either move Stop los to break even. Will wait to see what happens.
Trades Taken:
EUR/CHF 1/15/19 (OPENED) - Currently Running
Good Week, The EUR/CHF trade was up about 2.5% but the 4H showed bearish Price action with the Daily also showing signs of deceleration. I just moved My stop loss to lock in around 1% which it took me out the next day.
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Hello, how’s everyone doing? It’s been a while since I posted. I still have been trading the planing for the last few months and ended the Quarter around 9%. Comparing last two quarters, I have been decently consistent. it may not be much but finishing positive it a great start.
Here’s are the trades
January 2019
EUR/CHF 1/15/19 (OPENED) - 1/24/19 (CLOSED) [1.1%]
February 2019
EUR/AUD 2/14/19 (OPENED) - 2/15/19 (CLOSED) [-1.00%]
AUD/CHF 2/14/19 (OPENED) - 2/15/19 (CLOSED) [-1.00%]
CAD/JPY 2/14/19 (OPENED) - 2/19/19 (CLOSED) [-1.00%]
EUR/AUD 2/27/19 (OPENED) - 3/11/19 (CLOSED) [-0.18] - trade was up around 3%
I have been doing good taking trades but been missing quite a few trades and been targeting higher take profits. I can still improve but i am working being self disciple because having free time then wasting it on doing nothing isn’t getting me closer to my goals. To work both on my disciple and back testing to improve management and not keep missing entries.
To work Both on being Disciple:
Posting Both Weekly Watchlist and Daily if any entries
Weekly Review (what I did for the week to improve and Results)
Management - Looking over my past target I will be targeting take Profit 1 which can be around 2 - 5 rather than target longer trades would last about 2 weeks. I am just going to target Target profit 1 then build on the foundation.
I already started tracking daily tasks and goals to improve overall. I am working on being self disciple and looking at the longer Picture. I have a habit of thinking of the past and future rather than being present on what’s currently happening. The daily tasks I do really matter because of how little they are but they add up.
Decent trades this week, but I didn’t back test much about 2 of the 5 days this week. I wasn’t to disciple and must get into a habit of just doing it for 2+ hours. It can be easily done. I have to put a specific time of the day to just focus back testing.
Hello, great week so far. I was able to backtest for 4 days for about 2 hours each. The backtest were plain and simple only doing the Daily and Weekly.
Looking over the trade I took last week EUR/CHF on 4/1. Trade ended up going to take profit. My stop loss was around 15 pips finding out it’s better to be around 25 pip stop loss.
I can improve specially my backtesting.and try get it down to 1-2 Hours a day. My management still need works especially the Stop loss. I make sure I have been following the rules laid out in my plan.
Previous Trades
AUD/USD 4/03/19 (OPENED) - Currently Break even running was about 5 pips away from take profit
EUR/USD 4/03/19 (OPENED) - 4/12/18 (CLOSED) [-0.22%] - After the wipe saw price went up to hit take profit at 2.5%. The wipsaw
Hey, i think this may be a slow week. I don’t have much the watcthlist but i am not sure you everyone but EUR/USD could popping in the next few weeks. I have my eye on it.
CAD/CHF - Long
Weekly - Price bouced off the right shoulder and it’s the third bullish week.
Daily - The down trend hasn’t exactly ended but i am waiting for a another H & S pattern to go long. It’s just been in a run up looking for a pullback to go login
EUR/USD - Looking for something to happen in the next few weeks
Weekly - A wedge pattern has been forming for quite sometime. It has been slowly squeezing.
Daily - Price recently bouced off a strong Support followed by a run to the 50 EMA. I am looking to see if price comes back down to the key support followed by a double bottom.
if price decides to come back to key support, i will be looking for a long. Could see a possible breakout either way on this wedge formation the week.
Good Week, I have been able to do a practice backtest session Mon-Thur. Mainly focusing on Price action, patterns and entries. I found my strength’s are when a daily trend is reversing. I need to work on both management and going with the trend. EUR/USD offered an entry on 4/17/19 at key Resistance with some nice price action.
Trades Taken:
GBP/JPY 4/16/19 (OPENED) - Currently Running
AUD/CAD 4/18/19 (OPENED) - Currently Running
Daily - No Real confirmation for a Long yet. I am patiently Waiting for price to get to 1.200 to see what happens.
It’s just a waiting game to see what happens at 1.200 to confirm biased for a long or the market will do what ever it wants Just being prepared for when a opportunity arises.
Starting to see more green in my excel. I have been more consistence, as I am trying to Management which this week on GBP/JPY R:R was around 7.6% but moved it at 6.5%. The trade closed out but on daily finace it charged an extra 0.5% which was weird. I am going to ask my broker why this happen? if anybody knows because all of a sudden being CHARGED 0.5% extra on daily financing please let me now.
I have been Consistence backtesting my trading plan this week. I want to be able to SEE the trade and execute without any hesitation.
Month is over!! New Month, but no new entry this week. Slow week, waiting for a setups to form. Being patience is the best for finding the best entries. I will be finishing my monthly review to post to see what I need to work on.