The Return of Alphahavoc II

Coming soon . . . . . . . . . . . . .


Looking forward to it! Don’t forget to bring the biscuits… :smile:

Trading range for USDJPY on Friday was between 110.400 and 111.200 . During the US session price broke the support level of 110.400 . Price was largely trading below 200SMA showing bearish bias. In additional, price look ready to test the major psychological level of 110.000 .

Price of USDZAR looks trapped between 14.00000 and 15.70000 . Trading above 200SMA shows bullish bias. However, a bounce was observed last Monday, bouncing off the Major resistance level of 15.00000 . A bounce off the major resistance level of 15.00000 occurred again on Friday. A breakout below the ascending channel seems imminent, a re-test of 14.00000 may be possible.

I was off to a bad start after my deposit. It was really demoralising. I actually wanted to enter a position size of 0.002lot, but i entered 0.02lot instead by MISTAKE! I did realize my mistake immediately after entering the position, but i decided to let it run. There was no planning at all. I just look at the chart on my handphone and shoot.

The feeling was depressing. What the hell am i doing? Anyway, i braced myself and traded with 0.004 lot the very next day and went deeper in the red by about $10. I was not at all please, but i did feel a bit thankful that i didn’t go on tilt this time round, i didn’t go bust.

Over the weekend, I look thru Dennis SW chart and choose the pair that i wanted to trade carefully. I was trading multiples of 0.004lot from Monday to Friday. Mainly scalping intraday. Fortunately, i manage to rebuild my bankroll of $500 by end of week.

I mirror talk to myself, things have got to change. My lot size was simply too big. My money management was atrocious. I reflected over my mistake again and again. I come to the conclusion, this coming week, i will need to do something different. Which is, i have decided to start with the smallest lot size possible (0.001lot) and increase my lot bit by bit when i reach a new watermark level, and reducing my position size whenever my capital account goes down. I’m not going to set any stop loss this time round. The widening of spread can sometimes be ridiculous. Closing of my position will be manual and on an ad hoc basis.

As you all can see from my analysis above, i will be looking to short USDJPY and USDZAR this coming Monday. My entry will most likely be the beginning of every Major Market session opening, namely Tokyo, European and US session.

I will be going slow this time round. Let’s see how i will fare…

Looking cool - you broke the 500 resistance level! Well done! :slight_smile:

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I will be trading 0.001lot, and aiming for the $520 resistance level in the coming week. :sunglasses:

Here’s a piece of nice heartwarming music that soothe the nerves.

I was on standby this week. This morning i got an activation from my hospital and had to go back to work. Patient had a heart attack. I assist interventional cardiologist by manipulation of the cinematic x-rays projection during a coronary angioplasty procedure. The event was always full of adrenaline rush. We manage to save the patient. I always felt good after every emergency case, as i find it quite meaningful to be part of a team that save lives.

After the operation, i left my workplace and went to a shopping mall nearby my house for breakfast. I had minced meat noodle. Not a healthy diet though. But, what the heck just eat. I felt like eating that, so i just go with flow.

Subsequently, i went to chill at a Starbuck cafe. I didn’t order anything. There was not many customer in morning, so i doubt they will chase me away.

I contemplated, what to do next. Initially, my 1st thoughts was to do search for some information in forex, then again, i felt really saturated with forex chart and gave up that idea. While i was thinking, i saw a train passing by the window. My mind started to get foggy, perhaps it was the oily breakfast that i took and all blood rushed to my tummy. Lack of oxygen in my brain, i guess.

“I’m not being productive right now, Make myself useful” i thought in my mind. It was about 9am in the morning. Why don’t i buy breakfast for my family. Now that is doing something right. I walk towards the nearest supermarket and bought a cake, probiotic drink and a bar of dark chocolate for myself.

After my short shopping spree, i headed home. My children greeted me warmly. However, my wife was grouchy, and scorned at me for buying the cake. i rebuked “The kids like the cake, what are you upset about.” She’s always more grouchy then not. It is just her. I’m use to it anyway. Talk about appreciation. My energy just got drained completely, and i drop dead on the bed. After only a mere 5min. Guess what? Another activation, i had to rush back to the hospital for another emergency coronary angioplasty procedure. My heart start pumping again and the vicious cycle repeats itself.

After the 2nd case, i can’t be bother to go home. I really want to lie down. But i needed another timeoff. I headed to another shopping mall nearby, there was this really cool ice skating rink. So i will chill myself out over there.

At 1st, I thought of going for a movie but i was on standby, what if i had a 3rd activation? So i hesitated. I continue to stare blankly at the rink, chilling myself. Then a girl who wear shorts skating in the rink caught my attention. Who the hell wear shorts to ice skate?

That’s not very wise! Tempting fate, i would say. Then again who am i to judge others? I’m a nobody. An undisciplined trader. Who am i to judge anyone. I started thinking about what i should do to become more disciplined. Physical exercise, intermittent fasting , meditation, listen to relaxing music and stuff like that. From time to time, i always think about stuff like that. But i never started doing. Knowing is useless, if i can’t do it. By then it was lunch time about 1400HR SGT. I decided to eat at Mcdonald, not the healtiest of food, but what the heck. This would be my last unhealthly meal. Tomorrow, i will starting eating healthy.

After lunch, i headed home, posted this thread and continue to drop dead on my bed.

It is 1900HR SGT, just wake up. No 3rd activation. I felt more refreshed now. Read Pipdiddy USD weekly review and i really like his view

“Greenback eventually began to encounter selling pressure again, which market analysts attributed to weaker safe-haven demand and/or unwinding of safe-haven bets”

Let’s all short the USD tomorrow!!

Wow, i’m impress by the moderator speed in handling the flaming post on my thread. Sigh, they deleted my rebuttal as well. I would love to have my rebuttal seen by more people. What a pity! The flag button works! By the way, moderator, i seriously want my rebuttal at least to be seen by the perpetrator of the flaming post earlier. I would like him to know, it is for the sole purpose of entertainment value.


Nice post. Just going forward please stick to trading and things that add value to yours or the readers trading plan. Pictures of particular people because of their clothing can cause offence.

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Just went thru the Economic calendar for the coming week.

The limelight should be on USD, AUD for the 1st part of the coming week and EUR for the latter part.

According to Daily Fx currency strategist,

" July rate decision set to be released on Wednesday . . . Wednesday brings the release of FOMC meeting minutes from the July rate decision. Nothing much really happened in July "

I get the impression of status quo, thus USD should continue to be weak at least till Wednesday US session.

During the asian session on Tuesday RBA’s Governor Philip Lowe will give a Speech.

This is what i found from google, there were 2 pieces of 2 days old NEWS on Governor Philip Lowe

Behaviour of Australian Banks

Slowing housing market and falling prices welcome

IMHO, the tone of statement by the Australian Governor seem pretty hawkish to me.

“It is good news that this adjustment is taking place at a time when global growth is strong, the labour market is positive and interest rates are low.”

" Dr Lowe said overall the Australian economy, with GDP growth above 3 per cent, inflation around 2 per cent and unemployment below 5.5 per cent, continued to move in the right direction. "

“We need to rebuild trust, we need to have a very strong focus on service rather than sales and risk management.”

AUD, GDP shows a U-turn from a pullback of a rising trend, seems bullish to me.

USD, Home sales shows an obvious falling trend, looks quite bearish i would say

EUR, Germany Manufacturing PMI, A tricky one, looks like a recovery is brewing from a bearish trend.

The best coffee ever, my recommendation for any coffee drinker.

It is currently midnight in Singapore, i just finish my economic calendar analysis. While having coffee and 2 pieces of cake i bought earlier in the morning.

Everyone in my home is soundly asleep. This is the most peaceful time of the day. It is also the best time of the day for me, where i can have full focus on my personal endeavours.

I was just trying to humor myself after a day of hardwork, forex analysis and Babypip posting. Hoping to give my reader a good laugh as well. Seriously, some people have no sense of Humor.

Imagine being on the receiving end of such a team - twice.

The only advice I’ll offer, after some 44 years, is when she’s grouchy meet it with a cheery good morning. Never let the cheer leave, it works wonders :slight_smile:


This morning, i woke up at around 0630HR SGT. From the moment i opened my eyes. I stretched my body a little. Took a brief look at the charts on my Samsung 7 edge. I quickly entered 2 short position of 0.001lot of USDJPY. There was neither any stop loss nor target set, Since over the weekend, i had already made up my mind to short USDJPY.

After which, i washed up a little, changed and headed for work. I had breakfast with my father and younger brother. My brother talked to me about feng shui (Chinese Geomancy). He was telling me how he felt about places that were lucky and unlucky. Basically, shopping mall where there was a lot of customer were lucky and shopping mall that were quiet often were unlucky. I would be better off if i used my laptop and do trading in places where businesses were good. I thought that made a lot of sense to me, quite logical i think.

I had fried beehoon, egg and ikan billis and one cup of coffee for breakfast. I felt guilty actually. So much for my resolution to eat healthy today. Maybe i will start tomorrow.

During breakfast, i entered one more short position. But the internet connection at the coffee shop was horrible and i ended up entering 2 shorts position of USDJPY instead of one. Luckily, i was trading with peanut lot sizes, so i had absolutely nothing to worry about.

Prices were trading way below 200EMA and 50EMA, MACD was bearish. Obvious bearish outlook for asian session today. I calculated the average daily range for USDJPY to be around 80pips. I set two of my shorts position with a target of 10pips each and one for 20pips target from my point of entry, and with a volatility of 80pips per day, i ought to hit my target i thought to myself. I leave one position open without a target in the hope to get lucky and catch a dragon.

As you can see from my portfolio screenshots, the value of 1pip was $0.09 . For the sake of easy calculation, i will take 1pip as a value of $0.10 . I have 4 position. My average level was around 110.500 . Although i did say that i didn’t i want to set any stop loss. After some thoughts, i decided that it would be wiser to place a protective stop for insurance. The stop loss was set at 111.101 , which was around Friday’s Daily High point. From my experience, this level should hold out. If not i’m willing to sustain this amount of loss. Which i work out to be 60pip x $0.10 x 4 = $24. A potential dent of approximately 5% (24/500 = 4.8%) in my capital account. I can live with that.

PS: Phew! finally done with this part of the post. i had to correct my grammar so many times. I think in time to come, my English should improve. I haven’t written so much for such a long time.

The chart almost never fail to make me feel constipated. Already midway pass Asian session and i haven’t hit any target yet.

1155HR SGT, Volatility was pathetic during the Asian session. Damn the dollar buyers and Yen seller during the Asian session. PEOPLE! The dollar is weak and Yen strong. Let’ see how long they can hold up the selling pressure. The only high impact news today would be tonight’s FOMC highlights. If the European session continue to be quiet. A major avalanche of USDJPY would be set in stone for the US session.

Guess what, there was free buffet in my department. Birthday lunch session for the AUGUST babies.

Today’s simply not the day for healthy meal. I need to seriously work on my cravings to eat unhealthy food without restrain.

Oh boy… Drawdown time :confused:

All position in the red.

I added another
2 Shorts USDZAR

Targets were around 25% of daily average range. Protective stops were around Friday’s High. I’m pretty confident about my shorts on the dollar. AUDUSD might be a little risky as it seem that the Aussies had already reach new heights and a pullback might be on the horizons. Well, who knows Commodity pairs can be explosive. It might continue to move up further. No venture, nothing gain.

Something weird just happened!! Anyway, let me start by giving some background information. After my department lunch. I took time off from work. I went to watch a movie. The Meg

At 1:20pm SGT = 5:20pm GMT

Before the Movie, i had entered 2 USDZAR short position 0.001lot respectively. After my movie, to my horror. There were 2 Long USDZAR position 0.001lot each hedging my 2 USDZAR shorts. The longs were in profit. I was stunned for a few seconds. I quickly, closed the the longs that were in profit. My protective stops were at 15.20001 and the current position was at about 14.6++++. It was like 6000+ pips away. How could the spread have widen so much and hit my Buy stops order? I was in disbelief.

I was determined to investigate what had just happened. I went to the library just beside the cinema and srutinize thru all the recent trade log in My Dukascopy Reports section. Could someone else have opened those position?

The 2 Long orders opened at 0639HR GMT which was 0239 SGT

I was in the middle of the movie! There was no way, i could have opened those positions. Then i saw the description of the order, it was actually a preset limit Buy order. I started pondering, could i have entered those 2 buy limit order by mistake? I remembered just before the movie. The connection did seems quite bad when i tried to login using the phone app, i was unable to login. Thus, i login using the web platform from my phone browsers. I faintly remembered that i did input 2 Shorts order but there was no response and it seems that i have entered using conditional orders. I switch to the market execution option and entered my 2 Shorts USDZAR subsequently. Thereafter, i remembered that i did checked for whether there were any SHORTS PENDING ORDER that i could have entered by mistakes. There were none.

Now i’m going to give the benefit of doubt. And documenting this incident here in babypips for the record. I sustained no damage over this incident. But that’s not the point. It could have been my fault. Even if i have made the mistake it should have been Short conditional orders instead of a buy limit that was triggered at 06:39 GMT and i was in the movies.

Anyway, My 2 USDZAR shorts hit my target promptly while i’m posting this incident in my Trade Journal in babypips and i have cancelled my protective Buy stops for USDZAR.

Just for the record, i’m taking a screenshots of my current pending order.

There were no more USDZAR position! The image below is a screenshots of my current position.

For easier visualization for my fans, i have arranged them in a style for better understanding below.

2 USDJPY 0.001lot shorts position with
stop loss : 111.101
Take profit : 110.399

1 USDJPY 0.002lot pending buy stop order at 111.101

1 USDJPY 0.001lot short position
Stop loss : nil
Take Profit : 110.199

1USDJPY 0.001lot Short position
Stop loss : nil
Take profit : nil
(hoping to catch a dragon)

1 AUDUSD 0.002lot pending sell stop order

1 AUDUSD 0.001lot Long position
stop loss : nil
take profit : 0.73301

1AUDUSD 0.001lot Long position
stop loss : nil
take profit : 0.73201

My trade journal is exhausting! I totally drained now.

Below is a summary of my account progress at the moment,

Although, my USDJPY and AUDUSD are still in the red.
My USDZAR fetched me a profit of $15.12 :grin:
And i’m so happy.

By the way, i forgot to mention, The Meg movie was quite good. The actors and actress were great. The plot were faily predictable. The screenplay were great as well, quite smooth all the way to the end of the show. I highly recommend it.

On hindsight, although my USDZAR hit target, i never really gave a thought to how much i could lose if my USDZAR were to hit my buy stops order.

15.20001 - 14.64000 = 0.56001 which translate to 5600pips.

488.5pips —> $3.33
5600pips —> (5600/488.5) x $3.33 = $38.17 per 0.001lot USDZAR

But i had 2 USDZAR position. Thus, if i were to hit my buy stops order, i would have incurred and floating loss of $38.17 x 2 = $76.34, and that would be a dent of (76.34/500)= 15.2% in my capital account. That is unacceptable to me. Next time round i will be entering 1 position of USDZAR instead.

I’m starting to see what i’m really doing when i record all this stuff here in babypips.

My USDZAR shorts was opened at around 14.64000 and the drawdown reached 14.75000. That translates to 14.75000 - 14.64000 = 0.11000 (1,100pips) .

488.5pips —> $3.33
1100pips —> (1100/488.5) x $3.33 = $7.49

I had a drawdown of $7.49 per USDZAR position of 0.001lot
2 position would be 2 x $7.49 = $14.98

My profits from the 2 USDZAR trade was $15.12

Henceforth, my drawdown risk (14.98) : rewards (15.12)
workout to be 0.99 : 1.00 ratio. That was a trade went well.

My floating loss risk (76.34) : rewards (15.12)
workout to be 5.04 : 1. I really wonder if that would be reasonable. I think it boils down to my winrate. My winrate would need to be about 80% to break even.

Trade journal really helps me to self-reflect. Provided i have to be really honest to myself about what i’m doing.

I was so busy posting and doing self reflection, guess what? I just realised i forgot to set protective stops for my AUDUSD position. :sweat_smile:

I have just placed a Sell stop order at 0.72599. which is about 50pips away from my entry position of 0.73100. I have 2 Long AUDUSD position. Hence, risk is 2x50x$0.10 =$10 floating loss risk.

It is getting late now, 1907HR SGT, my wife just phoned me to buy chicken rice for her supper. Got to go now. Happy trading everyone. Who say trading is easy? My mind is preoccupied almost all the time.

Trade review 20 AUG 2018 Monday

On Monday, i opened 4 USDJPY shorts around 110.500 level, furthest drawdown reached 110.700 (20pips drawdown) . 2 position hit my target at around 110.400 (+10pips profit) . 2 position was manually liquidated by me around 110.330 (+17pips) .

risk : reward ratio
1st & 2nd USDJPY positions 2 : 1 (20p : 10p)
3rd & 4th USDJPY positions 2 : 1.7 (20p : 17p)

One of my AUDUSD shorts opened at around 0.73100 managed to hit target at 0.73200 (+10pips). Furthest drawdown reached 0.7295 (-15pips) . The other AUDUSD shorts is still open at the moment.

Risk : reward ratio for this trade
1.5 : 1 (15p : 10p)


New trade of the day 21 AUG 2018 Tuesday

USDTRY is on a bearish trajectory and trading within a bearish channel. Friday’s High point provides a major level of resistance. A bounce off major support level 5.70000 was observed. Immediate resistance stand at 6.40000 . At point of analysis, price seems to bounce off the upper border of the bearish channel at 6.20000 . A breakout below 200EMA looks imminent.

I shorted USDTRY at around 6.14000 . Targets set at 6.06999 (aiming for +700pips returns) . Protective stops set at Friday’s high point 6.41000 (-2700pips) .

Leverage for Turkish Lira is 1:10 instead of the usual 1:200 for my other major currency pairs. Used margin is $100. My current total utilised margin is at 19% .’ I really need to proceed with caution, i reminded myself. ’


Yesterday, I bought 2 packets of chicken rice for my wife and myself at around 19++HR SGT . After eating dinner. I took a nap, not the most healthy of lifestyle. I slept at around 20++HR SGT and woke up at 0100HR to do a trade review and posting it in Babypips. I’m about to finish off my writings. Perhaps, i may do some light exercise before i decide what to do next.

This is my current account statement. I’m pretty statisfied with my Monday’s Trading performance. There were a couple of weak connection, login issues and 2 erroneous long USDZAR position , which caused me some anguish. Otherwise, all in all, Monday was a good trading day for me .

Welcome back :grin:

The Ever Welcoming VIPER

Liber8 _bob

It seems that my trading skill have reached new heights, and i’m in better control of my emotions! I even started to trade Exotic pairs. This feeling is great!

Opps! i just spotted a blindspot. One of my AUDUSD hit target yesterday, and one of my AUDUSD 0.001 lot is still in progress. However, i forgot to change my protective stops from 0.002lot to 0.001lot .

Just made the change.

I just closed my 2nd AUDUSD position from yesterday. Felt the move was sluggish, decided to book profits. This shorts was opened at around 0.73100 closed at 0.7328 (+18pips). Furthest drawdown reached 0.7295 (-15pips) .

Risk : reward ratio for this trade
0.83 : 1 (15p : 18p)

My buy stops for AUDUSD was closed as well. Only one USDTRY shorts running

I woke up at 0630SGT took a look at my USDTRY position and it looked really sluggish. and tried to close the position but was unable to. I contacted the Dukascopy administrator, and they told me that there is off market hours for USDTRY. Oh my goodness.

I just realised that some exotics are not available for trading during their banks closing hours. Learn something today. i guess i just have to wait till 0700HR GMT .

By the way, i’m impressed with Dukascopy online chat and phone line support. They responded almost immediately. The phone line support even offered me to set a stop loss. Which after a few seconds of thoughts, i declined. Since i had already have a Target and Buy stop protective order in placed. I have faith in my trade opinion. Thus, i choose to maintain status quo.

NZDCHF breakout below EMA200 and EMA 50 this morning. EMA50 looks like ready cross over EMA200 and re-test today’s Low again.

Just shorted NZDCHF, protective stops at 0.66001

I shorted another 2more 0.001lot of NZDCHF targeting 0.65699 and 0.65799 respectively. Protective stop changed to 0.004lot and 0.66101

Dinner Time!!!

Rice, bittergourd, egg, green veggie, bean sprout and GUMMI berries juice.

22 AUG 2018

Today is a Holiday in Singapore. Hari Raya Haji, A very Selamat hari raya to all the muslim. I woke up late this morning. I discovered my NZDCHF was in hedging mode. Thus, remove all the targets and merged all the NZDCHF shorts. Now, my NZDCHF is a long and short 0.003lot position hedged between 0.65700 and 0.66100 with a floating loss of -40pips. I think NZDCHF is going up but doing a pullback at the moment.

I’m on the way out for breakfast with my family. Thus haven’t got time to deal with the situation. Will deal with it when i get home. I just entered a long 0.001lot GBPJPY, a bit late i would say. Targets 143.001 protective sell stops at 141.499

A losing day for me yesterday. Within reasonable boundary i guess.

A note on my NZDCHF, my shorts of 0.003lot position was at 0.65710. I have placed a target at 0.65700 to square off the position in case i get lucky. Another protective stops for my NZDCHF long was set at 0.65399.


Trade Review for 21AUG2018 Tuesday

One of my short NZDCHF position opened at 0.65880 hit target at 0.65800 (+8pips), Maximum drawdown was reached 0.66000 (-12pips). Risk : Reward ratio was 1.5 : 1 . I have highlighted the positions with red horizontal line on the chart above.

My short USDTRY position opened at 6.14250 hit target at 6.06800 (+745pips), Maximum drawdown reached 6.15500 (-125pips). Risk : Reward ratio 1 : 5.96 . Finally! A decent RR ratio . I have highlighted the positions with red horizontal line on the chart above.

I have 3 NZDCHF shorts 0.001lot each from yesterday merged into a single 0.003lot .
0.001lot NZDCHF short at 0.65800
0.001lot NZDCHF short at 0.65670
0.001lot NZDCHF short at 0.65700
These three shorts were merged in one NZDCHF at around 0.65720 level. This 0.003lot NZDCHF short is currently hedged with my 0.003lot Long NZDCHF at 0.66100. Sustaining a floating loss of about 40pips ( ≈ -$12.31).


Game plan for NZDCHF

Yesterday, Price action from Monday to Tuesday morning formed a descending channel. Henceforth, i shorted the NZDCHF. However, a breakout occurred during 1100HR SGT. My protective stop at Monday’s HIGH was triggered this morning. My impression was that a breakout had occurred. Price should be heading towards Fibo 161.8% level. However, i wouldn’t rule out the possibility of a pullback, because after a breakout, usually a pullback (reversion of mean) will take place. Thus, i had placed a target for my short NZDCHF at break even level 0.65700. Another protective stop were set at 0.65400 level for my Long NZDCHF. I choosed 0.65400, because it was Last week’s Monday to Wednesday HIGH LOW Mean level. Last week’s Monday to Wednesday was observed to be clustering and seems like a region of support to me. If Pullback doesn’t happen today, then i will deal with my NZDCHF hedged position at end of this week or next week depending on market conditions. At present, price above EMA200 shows bullish bias for NZDCHF.


When i woke up this morning, i realised it was drizzling outside.

This morning, i had my favorite international coffee and chocolate biscuit and some cream cracker. I was glad to eat breakfast with my 3 sons. My time with them was short so it was priceless to me. It really put a smile on me.

After an hour or so my wife woke up as well. She asked me to go out for breakfast with her. I obliged without thinking, if it would make her happy. What i didn’t expect was that i thought it was only the 2 of us without the kids. You know, kids like to tag along wherever you go. Like i said before, my time with them was priceless to me. So i agreed for them to tag along. My eldest son was not feeling well, so he stayed at home and the 4 of us went out.

Thereafter, was a tormenting experience for me. It was drizzling outside and packed with people at the coffee shop. I hate crowded places. If i had known that it would be so crowded, i wouldn’t have agreed to go out in the 1st place. A lack of foresight on my part.

Of all the tables, we had to sit beside the DUSTBIN!!

Anyway, seeing my children smile does help to alleviate my suffering a little. After that i had to queue to buy food, i dreaded queuing. If there was a queue i would rather not eat and buy food where there were no queue. But i have no choice as i can only buy what my family wants to eat. Another torturing experience for me. I’m starting to feel drained, I have chronic eczema issues. My skin started to feel sticky and itchy. Nonetheless, The experience was shortlived and i was home in the next 1hour or so.


I just closed my buy stop order for USDTRY, which i opened yesterday. I guess Turkish bank are open now.

Okay, i just decided to add another 4 long GBPJPY position. I have a total of 5 long GBPJPY position now.

0.001 Lot, Long at 142.470, Targets : 143.001,
0.001 Lot, Long at 142.420, Targets : 142.501,
0.001 Lot, Long at 142.450, Targets : 142.601,
0.001 Lot, Long at 142.450, Targets : 142.701,
0.003 Lot, Long at 142.250, Targets : 142.401,

0.007 Lot, protective Short at 141.499 .

To be honest, i was hoping for a bounce off the 200EMA line. Immediately after i entered 3 position of the 0.001lot Long, price continued to tumble down. My emotion got a little of me and i entered another 0.003lot of Long position at 142.250 . Praying for a bounce off the major level of 142.000 . A bounce was observed this morning during Asian’s session Opening hours. My trend determination for GBPJPY was bullish. Hence, if 142.00 were to break. It is going to be a huge drawdown for me till my ultimate protective stop of 141.499 .

Phew! A sigh of relief… According to my 10Tick Chart, Price just broke a significant Swing High point 142.200. A MINOR level of RESISTANCE. It seems a bounce off 142.000 just occurred, and price should be on its way up right now. If only i have all the time in the world, it would be impossible for me to lose,that is if i’m glue to the monitor 24/7 . Unfortunately, as a part time trader i simply do not have that luxury. I can only rely on my pre-anticipated trend determination, S/R to trade. Its a handicapped i just have to accept as a part time trader.

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Your youngest two giving a critical assessment of your positions? :wink:

I like your writing style… so vivid!

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Below are my existing NZDCHF positions price level, and i have made the following changes to it,

  • 0.003 lot Longs NZDCHF at 0.65100, i set a target at 0.65110 to square off this position.
  • 0.003 lot shorts NZDCHF at 0.6571, the original target of 0.65700 to square off this position is still in place.
  • 0.003 lot protective sell stop order NZDCHF at 0.65399 , have been increased to 0.006 lot sell stop order instead .
  • Right now, I just Longed another 0.003 lot NZDCHF at 0.65860 price level, without target and stoploss.

Looking at my 10 Tick chart above, price broke a SUPER Minor resistance level of 0.65850, rather then to wait for a breakout of a more significant 0.65900 level, i have decided to just go ahead and enter my position at a better price. In addition, 50 EMA line was also seen bouncing off the 200 EMA line.

I’m anticipating a couple of possible scenario here.

  1. Price could go straight up and square off my Long position at 0.66110, leaving me with a Long & short hedged NZDCHF between 0.65710 and 0.65860 giving me a -15pips of floating loss instead of the current -40pips floating loss.

  2. Price could go down and square off my short position at 0.65710, then go up and square off my long position neutralizing my -40pips floating loss. In addition, fetch a floating win of + 24pip due to my additional long NZDCHF at 0.65860 .

  3. Price could go all the way down and trigger my sell stop order at 0.65400 . That would leave me with a long and short hedged NZDCHF of 0.006 lot positions between 0.65440 0.65980 with a floating loss of -58pips .

1st scenario would be the most likely scenario to happen, 2nd scenario would be the 2nd in line in terms of likelihood, but would be the most ideal scenario. 3rd scenario would be the most unlikely scenario, and is also the scenario that i loathe the most.

4 out of my 5 Long GBPJPY position manage to hit targets, leaving 1 Long 0.001 lot GBPJPY running.

0.001 Lot, Long at 142.420, hit Targets : 142.501,
0.001 Lot, Long at 142.450, hit Targets : 142.601,
0.001 Lot, Long at 142.450, hit Targets : 142.701,
0.003 Lot, Long at 142.250, hit Targets : 142.401,

0.001 Lot, Long at 142.470, Targets : 143.001, still in open status. I have downgraded my protective sell stop order to 0.001 lot instead of 0.007 lot .

Hey Alph, if I may. Hoping, Praying, Emotion, is not a wise trading plan. To continue to progress, you may want to work on this.

The Ever Suggesting VIPER


Noted. Anyway, It would appear that 200EMA psychological barrier is way much weaker than whole number major psychological level. Even though both are just as imaginary as fibo level.

I saw that the overall change for my account statement was positive and i decided to close all of my position. I feel there is no point in lingering on with the hedged positions of NZDCHF. I bite the bullet and actualized the floating loss of -40 pips. GBPJPY looks sluggish, so i just close it close off. All pending orders were closed as well. The profits i have made with GBPJPY managed to offset the -40pips i have incurred with NZDCHF trade.

Trade review 22AUG2018 Wednesday

A 0.003 lot short NZDCHF was opened at 0.65720.
A 0.003 lot long NZDCHF was opened at 0.66100.
Both position were merged and liquidated at 0.65910.
Actualized a loss of -38pips ( ≈ -$12.18)

My overall GBPJPY shorts position had an average level at 142.360 price level. Hit target at an average level at 142.530 (+17pips), Maximum drawdown reached 142.000 (-36pips). Risk : Reward ratio 2.11 : 1 . I have highlighted these level with red horizontal line on the chart above.


Price trading below 200EMA shows bearish bias. Receding MACD histogram bars shows weakening of bullish strength. Price trading within a descending channel.

A bounce off lower border of ascending channel looks imminent.

2 EURUSD 0.001 LOT long position at 1.15980 were merged into a single 0.002 lot Long, Targets : 1.16301, stop loss : 1.14999. New 0.002 lot Long EURUSD were entered at 1.1469, Targets : 1.15001, stop loss : 1.14999

Just Longed A 3rd 0.002 Lot of EURUSD at 1.15680, targets : 1.15801, Stoploss : 1.14999

Price is trading way below 200EMA, a recent 50EMA Crossover below 200EMA paints a picture of a very bearish EURUSD. It seems that i have made a mistake and decided to close all my EURUSD position.

Hey dude, you did see the news that the Fed will hike again. Any longs on the Euro would be short term in and out countertrend. Before taking a trade you need the following questions answered. Daily trend, 4 hr trend, 1 hr trend. And any news. these are the foundational basics.

The Ever Helpful VIPER