The Kitty Minion Trader's Journal (A challenge journal)

One fine day as I was chillin out on the balcony, the Kitty god of Marshmallows flew over for a snack of marshmallows and some tea.
Cat serving tea
(Cute minion serving us the tea)

We had stories about our kitty lives in general and then we talked about trading in the financial mawwkets.
He kitty praised my kitty trading efforts and for representing cats in the financial markets. Then he got quiet and serious for a minute and was deep in thought.

Then he asked me: Hey (NAME WITHHELD), I know yu stawwted tradinā€™ with a big account. Not every cat can start big. How about the wittle guys who wanna tuwwade but donā€™t havv bank? I kitty challenge you to grow a weenie size account to a managerbeaww size account. Meowhahahaā€¦
(Both laugh profusely for 5 mins)
Then i said: Kitty deal!

And just like that, the kitty minion traderā€™s journal was born.
I want to prove if any little aspiring kitten can start tiny ($100) and survive and thrive in this warzone of a financial mawwket. Wish me luck! Im gonna need it! :heart_eyes_cat:

Come join me on this journey of discovery as I let my minion trade a weenie size account to represent the struggle from zero to (hopefully one day) hero! :heart_eyes_cat:

Beginning balance
PS I put $100 and made a random trade to test out the account and interface and got $0.49. Itch like pickin up a coin on the roadside

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The rules for trading on this ā€œchallengeā€ account will be as follows:

download

Risk management:
Ideally one (1) position at a time up to a maximum of three (3) positions at a time
Risk will be 1% to 3% of account
No correlated concurrent trades

Trade management:
Stop loss will be between 20 to 30 pips based on volatility and confidence
Take profit will be between 10 to 30 pips based on volatility and confidence
Context may be from the 1H and 4H timeframe
Execution will be from the 15m or 30m timeframe

Trading system:
Vanilla Ichimoku Kinko Hyo (Specific trigger will be Tenkan Sen and Kijun Sen cross)
Exponential moving averages
Basic support and resistance
Basic trendlines
(Every trade will have a detailed explanation on how each part of the system contributed, donā€™t worry)

Timestop:
Trades must be ideally intraday (24 hours) and in no case must any trade be left open during the weekend
Exceptions may be in weaaaally good tuwwades, if any. :thinking:

Targets:
Currencies, commodities, indices

So, the kitty game begins! Letā€™s hunt those pips! :smirk_cat:

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Niceā€¦i am also looking to grow a $100 account and this would be really helpful

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I hope this kitty helps. Stay tuned foww updates and good lakk to us! :heart_eyes_cat:

04.16.2020 USDJPY

Our kitty trade starts of by scanning prospective pairs to trade. I scan MAJORS and MINORS for currencies (but I may add some exotics soon) along with some commodities and indices for our trade setup

A.) STRUCTURE / RANGE (1 kitty level higher than execution timeframe)
As i looked as USDJPY in the 1H timeframe, I kitty saw that it was tuwwading in a range which I identified at the time as follows: Kitty range support at 1.4082, kitty range resistance at 1.41386. I now knew what wevels to watch and what to do if and when these wevels were buwwoken

B.) BIAS (2 kitty levels higher than execution timeframe)
As i looked at the 4H chart, I saw a maaaaaassive bullish kitty move by USDJPY (during the day when I repowwted to woik hence unable to tuwwade) and I saw a structure that looked like a ā€œpauseā€ or ā€œconsolidationā€ to either reverse or kitty continue the uptwend. Call it a flag, pennant, or channel, whatever hoomans call it. I simply call it a ā€œpauseā€ formation
As i dwilled down to the 1H chart, the range support and resistance were confirmed. I also brought out my movin avewwages as my final awwbiters for bias
Puwwice was above EMA21, EMA 21 was above EMA55, EMA55 was above EMA144. All EMAs were slanted kitty upwards
Mawwked with the Wed doodle pen: To add to that, there was a pawesome bullish cross of the EMA55 with the EMA144
Will all those kitty factors, this cat decided that my bias was ganna be a BULLISH bias (that means Imma look foww a long entry trade.

C.) TRIGGER / EXECUTION

Mawwked with the Fuschia doodle pen are my kitty twiggers when placin the owwdeww.

  1. Tenkan Sen and Kijun Sen converged and both angled up (some traders refer to it as ā€œkissā€ but i refer to is as ā€œsojournā€) In my kitty rule book, a Tenkan Sen and Kijun Sen sojourn counts as a crossover signal.
  2. Considerin Chikou span was above prices, this was a kitty plus point
  3. The Sojourn / signal was however below a bearish Kumo. This was a kitty minus point
    At this point the quality of the signal was a ā€œWeak buyā€ (Meaning donā€™t kitty take the trade)
    However, considering my earlier higher timeframe bias, I was expecting a bullish breakout. I kitty thought (and applied some imagination) by the time price breaks out of 1.41386, Tenkan Sen and Kijun Sen would both be above the Kumo (plus point already), price would already be above Kumo (plus point) and Kumo might already twist to become bullish (plus point)
    It wazza reasonable expectation based on current data extrapolated using the ā€œbiasā€ we identified earlier

Mawwked with the Wed doodle pen: to help reinforce this point further, EMA21 and EMA55 also gave a pawesome bullish crossover, confirming my bias.

A buy stop order was set a wittle above 1.41386 (never place exactly on your levels to avoid fakeys) and because I am working on a weenie size account that I am not weally accustomed to, volume was set at the smallest possible amount: 1 microlot (0.01) to test the waters of risk. Take pwaffit izz at 20 pips, stop loss izz at 30 pips (this is below the bottom of the future Kumo.I figured the price at this level would invalidate my setup)
After that, I went to schweep! This is the best way to do it. ā€œSet and forgetā€. Good night kitty world! :cat::sleeping_bed:

Den when mowwning came, I woke up to this! :heart_eyes_cat::sunrise_over_mountains:


Good start for this weenie minion account. :heart_eyes_cat:

Wooow. :blush: Sounds super interesting. :smiley: Kinda made me think if I was the one who asked you about this cause itā€™s definitely one of my concerns! :stuck_out_tongue: To my favorite kitty trader, thanks for this! And Iā€™ll definitely look forward to updates. :blush: Good luuuuck!

(In faaact, I might hop in on the challenge? Hmmmmmm. :thinking: Hahaha)

Ahihihiā€¦ gasp! Are you secretly the Kitty god of Marshmallows? You sneaky wittle kitten! Hihihiā€¦
You are most welcome and I hope this helps! Why not! We know the community is composed mostly of newbies with not much bank so if we can show them itā€™s possible, that would be pawesome as we will also be able to share process. You can hop in and start your challenge too! Hihihiā€¦ :heart_eyes_cat:
As always, you be kitty safe and be well, my favorite hooman! :heart_eyes_cat:

04.21.2020

None of my 2 buy stops were executed. Remember that cash is also a position. We DONā€™T wanna waste our limited ammo on low quality trades so we are extra kitty careful in picking our battles. We are not required to churn a trade every kitty day. DO NOT KITTY OVERTRADE. Take only valid signals. DO NOT FORCE TRADES just to have a ā€œtakeā€ for the day. Take only moderate to high quality signals. If it does not reach the level we want, we donā€™t chase or adjust. We stick to our given levels and signals. Kitty cheers! :heart_eyes_cat:

04.22.2020 GBPUSD Long

Our kitty trade combines the aspects of our KITTYMOKU system along with the concept of the LONDON OPEN STRATEGY.

A. ) STRUCTURE / RANGE
Our structure will be based on a strategy taught to us long ago by this old geezer of a kitty tuwwader. This works when the Asian session has been tradinā€™ on a RANGE (preferably a tight, low volatility range aka price is docile, not like a wild kitten runnin around). When the Asian session is bout to end and the London session is about to start, there is a tendency for prices to TREND towards a dominant direction. We intend to take a trade on the dominant breakout direction with the confirmation of our KITTYMOKU system. I determined the range of the Asian session to be from 1.22732 to 1.23055

B. ) BIAS
On the 15m chart, I watched the Tenkan Sen and Kijun Sen perform a ā€œsojournā€ albeit below the Kumo, it was a good bullish signal. No confirmation from Chikout span (still inside the Kumo). As I watched the 15m chart, I saw price breakout and close above the range resistance of 1.23055. From here on, this cat kitty knew this had to be a bullish bias trade.

C. ) TRIGGER / EXECUTION
I got in on the next candle above the high of the first candle that broke out of the Asian session range. I got in because the Tenkan Sen and Kijun Sen sojourned and moved up together and were both above the Kumo which turned the signal into high quality. However, cause for concern are these factors: (1) Chikou Span gave no confirmation as it was still inside the Kumo. (2) Despite Kumo being bullish, it was too thin and was ā€œdetachedā€ or far from price which has the tendency to pull price towards it (Senkou Span B is the longest measure of equilibrium)

Mawwked by the Teal doodle pen is the range of the Asian Session.

As the trade was open, I immediately saw a warning sign (a divergence): The Kijun sen was flattening (Mawwked by the Teal circle) and a flat Kijun Sen will usually attract price towards it.
So hereā€™s the kitty dilemma: On a big account, iā€™ll take a chance that the divergence will eventually be ā€˜curedā€™ by the dominant trend. The impending EMA21 and EMA55 crossover will also reinforce the bullish thesis. However, since this is a weenie account, Iā€™d rather lose potential profits than lose capital so I called it quits. I can always trade another day despite being wrong.

So here is my kitty result:

Note 1: I may have pushed the envelope a bit hewwe coz the position of two 0.01 Lots is 3.40% of available margin (my max is 3%) but I thought itā€™s kitty okay

Note 2: Yeah price moved and corrected the divergence eventually but yeah, capital preservation was my priority in this weenie account. A few misses or one big miss will kill this weenie account so itā€™s okay to forego some manni on the table.

Note 3: Yeah we ainā€™t buying a Lambo or paying the bills yet wid dis one. We are simply tryin to survive on a weenie account. Survive then kitty thrive

Cheers! :heart_eyes_cat:

04.23.2020 GBPUSD Long
Kitty made a boom boom. :crying_cat_face:

Today marks the first losing trade foww dis weenie account. Today I kitty lost $ 1.48. Meowhuhuhuā€¦ :crying_cat_face:
Letā€™s get right on da tuwwade!

Our kitty trade combines the aspects of our KITTYMOKU system along with the concept of the London Open Stwategy (Jazz like yestewwdayy).

A. ) STRUCTURE / RANGE
Our structure will be based on a strategy taught to us long ago by this old geezer of a kitty tuwwader. This works when the Asian session has been tradinā€™ on a RANGE (preferably a tight, low volatility range aka price is docile, not like a wild kitten runnin around). When the Asian session is bout to end and the London session is about to start, there is a tendency for prices to TREND towards a dominant direction. We intend to take a trade on the dominant breakout direction with the confirmation of our KITTYMOKU system. I determined the range of the Asian session to be from 1.23167 to 1.23447

B. ) BIAS
On the 15m chart, I watched the Tenkan Sen and Kijun Sen perform a ā€œsojournā€ albeit inside the Kumo. I also saw my EMA55 sloping upwards below price setting my bias for a bullish breakout of the Asian range. Cause of concern was that price and both Tenkan Sen and Kijun Sen were both still inside the Kumo. However, a positive note was a ā€œKumo Twistā€ aspect of the KITTYMOKU system (Senkou Span A crosses Senkou Span B from below to above)

C. ) TRIGGER / EXECUTION
On the 15m chart, the trigger for me wazz the ā€œKumo breakoutā€ or prices breaking out of the Kumo. A Kumo breakout plus the Kumo Twist were two signals that lined up in my kitty favor. Dis cat was happy! Kitty started to see a divergence with the flattening of the Kijun Sen but this kitty refused to be shaken out coz I figured two kitty signals of the KITTYMOKU system saying the same thing plus at the time, EMA55 and EMA144 gave me a bullish cross which boosted my confidence on the trade

Sadly, the market seemed like a wild kitten and started runnin and swingin around wildly! If you kitty review the chart, you will se how wild the swings are! Itch pwetty scawwy! :scream_cat:
When GBP news came out, it was worse than expected. I guess we were naaaat expecting things to be that bad. That may explain the kitty wild swings.

As you can see, what cudda been a pwaffitable trade turned out to be a losin trade. :crying_cat_face:

However, an old geezer tradin cat taught me that there were 2 ways to classify trades.
(1) Pwaffitable trades and Losinā€™ trades
(2) Good trades and bad trades

This one was a losin trade coz I kitty lost some manni. However, on the 2nd class, Iā€™d kitty say this was a good trade. I had plans and triggers and I stuck to them. I acted on the info and signals I had at the time so I think this was still a good trade despite bein a losinā€™ trade. Most of all, risk was still kitty managed in the midst of such wild kitty swings! :heart_eyes_cat:
We canā€™t win every trade. No one can kitty do that (except the kitty god of trading and the kitty god of the markets).

Balance is now $ 101.24

Cheers to the next tuwwade! :heart_eyes_cat:

04.27.2020 JP225 Long

Kitty tried tradin an index on this minion weenie size account. I havent weally twaded this small. :rofl:
In retrospect, dis cat shudda risked a bigga position but as you know, a test trade must use the smallest size first to kinda get the feel of tings foist. Hihiā€¦ :sweat_smile:

JP225 is dirt cheap when it comes to the margin required to maintain a position datch why it is my choice of index tradinā€™. Bein cheap allows kitty traders to be ā€˜heavierā€™ in this index which means moww bang foww our buck. Pawesome index! :cat:

I kitty reported to my day job today so I couldnā€™t trade the London open while on duty so I had to make do with what spare time I cud squeesh in between tasks.

A. ) STRUCTURE / RANGE
I kitty identified the price level of 19602.88 as the recent swing high on the 1H chart and I figured that this level would need to be broken if prices were to reach new highs. Breaking this level would not be enough tho. A signal from our system (Kittymoku) is needed for execution

B. ) BIAS
My kitty bias foww the JP225 index is the ongoing QE (Quantitative Easing) by the Bank of Japan (QE stimulates investments and the economy = Good for stocks in general). Our movinā€™ averages (EMA 21, EMA 55, and EMA 144) were diverging after a kitty convergence and were slanted upwards indicatinā€™ a buwwish bias.

C. ) TRIGGER / EXECUTION
The foist doodle circle on the left shows the classic sojourn and split that signals our long entry (sojourn counts as a ā€˜crossoverā€™ in this kitty traderā€™s book). The quality is a strong signal because the signal happens above the Kumo. The signal is reinforced with the confirmation of the Chikou span beinā€™ above prices and price being above Kumo with Kumo being bullish.

When prices were tempting to break the Tenkan sen (second doodle circle), I sold the position and called it a kitty day.

Twazza pawesome mini gain on a mini trade. :heart_eyes_cat:

JP225 Balance
Kitty notes and observations
Note 1: The Tenkan Sen trigger was not followed (ideally it should be a kitty close below Tenkan Sen to be a valid sell signal for open positions

Note 2: The Kijun Sen trigger for closing open positions may have been a better standard. Tenkan Sen is too conservative and will tend to miss out on most of the miwk!

Note 3: Utei maybe we should revise the rules for testing things for the first time with the tiniest lot size possible. Even if this is a weenie size account, we are too kitty conservative by trying thing foww the first time (on a weenie account perspective) with the smallest possible lot. Let us stick to the 1 to 3 purrcent rule. Even kittens can be brave. Roar! :cat2:

Overall a pawesome trade! :heart_eyes_cat:


(My 2 tradinā€™ minions givin me the paws up foww a goojabb)

I am starting off with a 100$ account as well, I need to prove to the wife that this is possible first =)

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Good luck to us, cats and hoomans! Startinā€™ schmall is the best way to test the waters and make sure our kitty systems work and to practice psychologies. Good luck and givv it your best! :heart_eyes_cat:

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04.28.2020 GBP/USD Long

Kitty did pawesome! :heart_eyes_cat:

This kitty tuwwader applied the London Open strategy again mixed with triggers from the Kittymoku system. Here is how it kitty went.

A. ) STRUCTURE / RANGE
I kitty identified the range of the Asian Session from 1.24074 to 1.24339. My kitty plan was to kitty watch these levels and wait foww price to break (and if possible hold and close above/ below these levels)

B. ) BIAS
On the 1H and 4H chart, I saw a ā€œPennantā€ formation which is a possible continuation pattern for the given uptrend. If you are like me who izzent specifically interested with formations n chart drawings, I have my EMAs telling me itch an uptrend coz they are slanted upwards on the 1H and 4H charts.
As I watched price test 1.24074 and very strongly rebound, I sorta had a gut feel it was gonna be a bullish breakout of the Asian range but to be certain, cats will wait foww triggers from the Kittymoku system! :smirk_cat:


C. ) TRIGGER / EXECUTION

The teal doodle circle highlights an area of pawesome ā€˜confluenceā€™: (1) Tenkan Sen and Kijun Sen sojourn (2) Bullish crossover of EMA21 and EMA55. This confluence was scweamin to this kitty trader: Kitty purrfin BUY! Hihihiā€¦ so, I opened my position, placed my stops and limits, and went bakk to woik. :cat:

After a while, I get a notification my take pwaffit was hit! Pawesome! :heart_eyes_cat:

In retrospect, (1) I cudda risked bigga (2) I cudda aimed higher with my take pwaffit owwdeww or maybee used a trailin stop (but I junhave expertise on that yet esp with a weenie account)

Overall a pawesome tuwwade! Cheers! :heart_eyes_cat:

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Iā€™m so happy to see youā€™re doing greaaaat! :blush: Good for you! :smiley: I havenā€™t opened the account yet cause iā€™m having trouble going out of the house and since Iā€™m such an idiot, I did not set-up my online banking before the quarantine. :frowning: :frowning: How are you managing your finances during the lockdown? :open_mouth:

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Iā€™m doin well. Emurrgency funds will be tested in this pandemic. We are always taught to make emurrgency funds befoww investing. Those sacrifices are payin off naww. Like an ant savin up foww the rainy season. I hope all is well with you besides the hiccup on your banking to fund your account. Itā€™s all foww a good kitty reason. Maybe the Universe wants you to kitty practice samoww during quarantine? Trust in the plans for you and make do with what you have. Use this time to learn and practice samoww so when the time comes, you are ganna be a pawesome pip hunter! :heart_eyes_cat:
BTW, you can kitty use a debit/ credit card to fund your account. Most brokers take debit/ credit cards and you dunneed to register foww online banking. :cat:

04.30.2020 XAGUSD (Silver) Long

Kitty did pawesome agin! Nattin gives you as much fulfillment as hunting pips on the mawwket! Itā€™s like catching a pwetty butterfly!

A. ) STRUCTURE / RANGE
I kitty figured a break of resistance at 15.26 will make a bullish move seeing my signals are about to align.

B. ) BIAS
My bias on XAGUSD is bullish based on the context of a ā€œWorse than expectedā€ US GDP number.
XAGUSD Long US GDP
Considerinā€™ that Silver is a ā€œcounter-dollarā€, it is implied that a ā€œweakerā€ dollar means a bullish case for Silver.

This trade is an example of the lesson taught to me by my mentor kitty trader: ā€œTrade TECHNICALLY with a FUNDAMENTAL biasā€.

C. ) TRIGGER / EXECUTION

Mawwked on the chawwt below with the gween doodle pen (the bigga circle) is an area of CONFLUENCE. Confluence is when you havv 2 or more signals saying the same thing, adding conviction to your bias. I identitifed signals from my 2 systems as follows
(1) KITTYMOKU system: Tenkan Sen and Kijun Sen sojourn. Chikou span above price and above Kumo. Although the signal happened below the Kumo, the Kumo is thin (and represents resistance can be easily broken) and the trajectory/ angle of the sojourning Tenkan Sen and Kijun sen is almost vertical.

  • An almost vertical trajectory is pwetty scawwy coz itch a ā€œdouble edged swordā€. It represents VEWWY STWONG momentum but that momentum may NOT be sustainable for long.
    (2) EMAs system: Price above EMA21, EMA21 above EMA55, EMA55 above EMA144. EMA21 bullish crossover with EMA55

I exited prematurely after seeinā€™ a divergence. The second, smaller gween doodle pen mark on the chart shows you an area of divergence. The KITTYMOKU system revolves around the concept of ā€œequilibriumā€ where price tends to move to and from ā€œequilibriumā€. The Kijun Sen is one representation of equilibrium and seeing that current price is away from a ā€œflatteningā€ Kijun Sen, I exited my positions out of the possibility of a retracement to re-establish equilibrium.
If you look at the kitty chart naww, you will see what I mean about price retracing / correcting to re-establish equilibrium. :heart_eyes_cat:

Though it did not move as much as I expected, it was still a good kitty gain! Silver is a dirt cheap contra dollar (compared to gold) plus the margin requirements are also dirt cheap.

XAGUSD Long Balance

Overall a pawesome trade! :heart_eyes_cat:

download (4)

05.01.2020
Kitty reflection:

This is the snapshot of my last pwaffitable tuwwade:

XAGUSD Long Balance

I know twelve bucks wont pay your bills or buy you a Lambo but hey, letā€™s look at the numbers.
I started this challenge account with $100 and now itā€™s at $112.61 in a span of 2 weeks. That puts my overall gain at $12.61 or 12.61% up.

But letā€™s say you did not put $100? What if you put $1,000 and took bigger lots to trade? $10,000? $50,000? $100,000? I bet you are now imagining the things you are ganna buy with the money. Maybe quit your job? Maybe buy that Lambo? Maybe trade on the beach while sippinā€™ pina coladas?

Imma pat your kitty head gently

Nyu nyu nyuā€¦ You got it all WRONGā€¦
That is NOT THE POINT hewwe.
That isnā€™t exactly the goal of this challenge. Our goal is to stay sustainable and afloat for as long as we can. Our challenge aims to kitty prove the little guys can survive in this warzone of a mawwket. Our goal is to show that given a consistently profitable system, even the little guys HAVE A CHANCE. Our goal is consistency and net profitability to stay in the game FOR THE LONG HAUL. Iā€™m talkinā€™ 5 to 10 YEARS.

Realistically, you SHOULD NOT QUIT YOUR JOB TO GO FULL TIME just yet. You gatta stay on your day job and every month, add a wittle bit to your trading account (say $50 a month added to your weenie size account?) Instead of spendin away your gains, how about saving up every month to add to your account and grow your capital / grow your positioning, and eventually grow profits someday till you are weally ready to quit. :smirk_cat:

However, itch too kitty early to say that this project is a success. 2 weeks donā€™t prove nattin yet! We have a long way to go and it is too early to rest easy. We have to stay on our kitty toes and keep doin our best! :smirk_cat:

Our intermediate goal in this simulation would be to pifty bucks gain or at least stay net profitable after 3 kitty months. Why pifty bucks? Pifty is one of my minionsā€™ favorite numbers. Hihiā€¦ :sweat_smile:
After which, we will then recalibrate our tawwget numbers and continue to trade and prove the wittle guys can make it.

Goolakk to us! The challenge continues! :heart_eyes_cat:

05.01.2020 GBPUSD Short

Kitty is on a roll! (Litewwally!)

A. ) STRUCTURE / RANGE
This kitty trade started as usual by identifying the range of the Asian session as 1.25505 to 1.25995. If the price broke out strongly towards one side of the range and stayed there, I would place my kitty bet based on signals, if any.
B. ) BIAS
(1) When prices broke 1.25505 (bottom end of the range), I was not convinced by the succeeding candle (coz it had to close below the 1st one indicating a strong downtrend). (2) My long term EMA144 also told me it was ganna bounce off support. Good ting dis cat wazzent convinced or it wudda been an instant cutloss. I need price to either break that long term EMA or for that EMA to turn sideways then down. (3) The second time i watched it break below the range of the asian session, I watched price turn spiky spiky (lower wicks) on the same EMA144. However, with a Tenkan Sen Kijun Sen bearish crossover signal already in place, it was only a matter of kitty time for the structure to break.


C. ) TRIGGER / EXECUTION
With a Tenkan Sen Kijun Sen bearish crossover signal in place below the Kumo (confirmation 1) and Chikou Span below prices (confirmation 2), I placed a sell stop below 1.2527, a level I identified as support. Should prices break this level, the bearish momentum will continue.

Things were going well into the breakdown of prices then something caught my kitty eye! ā€œHIGH IMPACTā€ ā€œUSDā€ ā€œ1 HOURā€.
I quickly scampered to look for expectations on this incoming news item! :sweat_smile:

For one, my kitty rules on news is simple: (1) Trade WITH the direction of the news or (2) STAY AWAY until the dust settles (this is true especially when I am not completely knowledgeable on the news itemā€™s impact or uncertain on its expectations and results.

As I read through items related to the incoming news, I figured that the US ISM data could be kitty worse than everyone expected.
Quick math: Worse than expected US data = Bearish US = Bullish for GBPUSD = Imma dead cat if it happens.
I also came to realize that as more people bet on shorting GBPUSD (thank you), it would seem as though people were optimistic with the incoming US data (and boy oh boy are we in for a suprise!)


I then closed my position and watched as those optimistic on the US data got massacred as the price whipped them up from a few pips below where I closed my position (whew!) up to almost 50 pips above before breaking down another 80 pips. All this within the span of a few hours.

So to reiterate foww those newbie kittens, the kitty lesson is here and it has been incorporated in my rules: (1) Trade WITH the direction of the news or (2) STAY AWAY until the dust settles (this is true especially when I am not completely knowledgeable on the news itemā€™s impact or uncertain on its expectations and results.

Hereā€™s how the cat did today. Hihihiā€¦ Another day another dollar (half. Hihiā€¦)
GBPUSD Short Balance

Donā€™t be kitty sad about your quarters. 90% of traders lose money. To breakeven is commendable. To have a gain deserves a kitty medal. Yipee! :heart_eyes_cat:

05.04.2020 - 05.05.2020 EUR/JPY Short

Another victorious kitty battle!

images (11)

The following trade best illustrates the lesson taught to me by this old geezer of a kitty trader: Trade technically with a fundamental bias.

A. ) STRUCTURE / RANGE
The basic structure of this play is that price was hitting and failing to break resistance at 117.385 and price was likely to retrace to support of 116.170

B. ) BIAS
Dis is where the kitty fundamentals come in. I was tingking that with the influx of bad / worse than expected economic data from European Union countries especially on the backdrop that the worst hit countries by Covid-19 are EU countries. Some of the EU data has already shown bearish biases and I kitty anticipated that succeeding news will show a worse than expected theme as well.

C. ) TRIGGER / EXECUTION
I wazza bit late to the pawwtee but i checked my technicals to affirm my bullish funda bias with the technical side of tings: (Kittymoku evaluation for beawwish continuation)
(1) Price below Tenkan Sen and it appears as though price has just bounced off the Tenkan Sen - Beawwish
(2) Tenkan Sen below Kijun Sen - Beawwish
(3) Both Tenkan Sen and Kijun Sen below Kumo - Beawwish
(4) Chikou span below Kumo - Beawwish
(5) Kumo sentiment - Beawwish


I opened 2 twanches and sold them sepawwately (See image). Then re evaluated the chawwt and re entered and sold agin.
Not my best execution but the fundamental bias and the longer term technical thesis gives dis cat a bit of a leeway to be clumsy. Still, itch samtin i need to improve on. So far, itch the big picture bias and the structure break that has saved this kitty. Ahihihihiā€¦ :sweat_smile:
Imma get better! We gettinā€™ in eawwly, and not havv my take pwaffits scattered like my kitty brain. Aheheheā€¦ :sweat_smile:

We are doing good but we need to get better.
Stillā€¦ itcha pawesome tuwwade! :heart_eyes_cat:

Balance so far at $117.62. :heart_eyes_cat:


Kitty trader goinā€™ stwong but we will stay vigilant!
:heart_eyes_cat:

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