04.23.2020 GBPUSD Long
Kitty made a boom boom.
Today marks the first losing trade foww dis weenie account. Today I kitty lost $ 1.48. Meowhuhuhu…
Let’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 tradin’ 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 “sojourn” 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 “Kumo Twist” 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 “Kumo breakout” 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!
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.
However, an old geezer tradin cat taught me that there were 2 ways to classify trades.
(1) Pwaffitable trades and Losin’ trades
(2) Good trades and bad trades
This one was a losin trade coz I kitty lost some manni. However, on the 2nd class, I’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 losin’ trade. Most of all, risk was still kitty managed in the midst of such wild kitty swings!
We can’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!