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Hey folks,

I decided to create this website in order to remain accountable to like-minded individuals so I will do my best to keep this up!

I have no doubt that there are a lot of better traders out there, however, if I can provide the slightest amount of value to one of you I shall be more than happy that I made this decision.

I have learned how to trade this style thanks to Mark Hutchinson through Falcon Trading (yes it’s a hyperlink! Click on it!) If you are not one of the members I would highly recommend you to join us!

Anyway, let me know your thoughts!

Enjoy!

 

 

 

 

 

 

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Report Card

Report Card – Friday, August 17th

Daily P/L: 0$

How many trades did I take: –

Overview:

Had two trades planned out on USD/CAD both trades happened but I didn’t get an entry – but that happens, stick to your plan that’s the most important way to do it!

Description of my trading plan:

I received quite a few questions about the edited version of my trading plan.

Basically, I have broken down my trading plan in five sections

  • A general overview of the strategy
  • Description of my favorite  Risk Entry set-ups
    • A quick overview of the set-up & screenshot
    • The entry criteria
    • The management I will apply every time
  • Description of my favorite Reduced Risk Entry set-ups
    • A quick overview of the set-up & screenshot
    • The entry criteria
    • The management I will apply every time
  • My checklist before taking a trade & what I need to do after taking a trade
  • An excel sheet showing the power of compounding and how long it will take to reach my goal.

Goals:

  1. Did 8 entries on Gold while backtesting
  2. Worked out
  3. Practiced my Spanish
  4. Booked plane tickets to Berlin and Airbnb

Watchlist:

USD/CAD short – if we get a triple top correction

GBP/CHF long – if we get an impulse correction

EUR/JPY long – if we get an impulse correction (due to the double bottom on the daily)

GBP/USD short – if we get a triple top

 

Report Card – Thursday, August 16th

Daily P/L: -10.33$

How many trades did I take: 1

Overview:

Good day but felt as if I needed to be in a trade, I guess it was FOMO, at the time I thought it looked like a decent set-up but… With hindsight, I regret taking it and took a -0.5% loss. It did not perfectly fit with my trading plan.

Trade description:

EUR/USD long (-0.5%)

I had written:

  • The weekly show’s momentum to the downside so we didn’t have anything pretty there
  • However, on the day we could see the creation of a descending channel and clear deceleration at the low
  • On the hourly, we had a clear move higher, a correction that lasted more than 6hours with a triple bottom and double top on the 15min
Knowing that we did not have a triple touch of a phase line or an extremely clear correction on the hourly I would rate this set-up as a B+, at the higher end of the risk

The triple bottom was ugly, the impulse sucked, the formation was messy – oh well

 

I also close my Gold position for a total of 3.5% at 1171.67 after seeing a potential retracement

Goals:

  1. Started backtesting GBP/CAD
  2. Worked Out
  3. Read over my trading plan 3 times at market close to keep it in mind and easily print it in my mind

Watchlist:

GBP/CHF long – if we get an impulse and correction – prob Monday

EUR/JPY long – once we reach the bottom again

USD/CAD short – if we get a nice arc and a clear reversal

 

 

Report Card – Wednesday, August 15th

Daily P/L: 610$

How many trades did I take: 1

Overview:

Had a really good skype call with a successful trader last night which really motivated me to put in the work and focus on improving my trading and made me realized the importance of seeing your trading plan as your bible while keeping it simple and stupid.

So ended up spending most of my day working! Also made up my mind and I have decided that I should go to Berlin in September!

Trade description:

EUR/USD short for -115$

Looking back on this trade I shouldn’t have taken it – it does not perfectly fit with my trading plan and therefore it was a mistake.

I want the trades I take as an impulse correction to have a triple top and double bottom – the third top never happened so I shouldn’t have taken it.

Make sure that you have a clear trading plan and keep it simple (I took this trade before the skype call and before updating my trading plan)

An update on my XAU/USD short position (looked in 2%):

I have been trailing my stop in profit in order to give up too much – in addition, we are currently approaching a potential inflection point being the descending channel on the daily.

On top of that, the DXY is forming a potential reversal which would lead to a bullish move in XAU/USD and therefore I am being careful.

Goals:

  1. Created my new and improved trading plan
  2. Watched the mid-week recap
  3. Calculated the numbers I need in order to achieve my goals and visualized doing so

Watchlist:

EUR/CAD long – if we have a clean hover with a clear bottom

AUD/USD long – if we either have a clear impulse correction or a clear arc

EUR/USD long – if we have an arc or an impulse correction

EUR/JPY long – if we have an arc or a large impulse correction below the trendline

USD/CAD long – if we have a triple bottom type of a correction

 

 

 

Report Card – Tuesday, August 14th

Daily P/L: 15$

How many trades did I take: 1

Overview:

Moved Airbnb – this wifi is so bad… Anyway, saw quite a few trades that went without me but that’s part of the game, and a good reason for me to move to Europe!

I took Gold short – sorry, didn’t include it in my watchlist since I don’t usually monitor it but Ned made me realized it looks great!

Trade description:

Gold short:

Took this set-up because the hourly was extremely tempting, we saw a larger correction followed by an impulse lower and an additional correction – I placed my entry at the break of the correction

I moved my stop immediately to -0.5% as soon as I got triggered since this is a reduced risk entry.

I wanted to close it after the low test but since it did not reach the previous low I decided to keep it open, after all, that is part of my management plan. It was mainly an emotional need to avoid risking any money.

Goals:

  1. Finished backtesting GBP/CHF – it’s decent and will form now on consider it
  2. Watched more content from Denise Shull about emotions and trading
  3. Watched two interviews from Tom Bilyeu and Impact Theory

Watchlist:

EUR/AUD short – if we get one more high – I missed the entry last night

EUR/USD short – if the correction is clear after 6 hours

NZD/JPY short – if we get one more high

GBP/USD short – We have a nice double top 15 min correction

 

 

 

Report Card – Monday, August 13th

Daily P/L: 0$

How many trades did I take: 0

Overview:

Kinda happy I’m not grading my day because I kinda messed up…. Going out and drinking the entire weekend was loads of fun but it doesn’t help you become productive Monday morning ahah

Favorite Quotes:

Since I didn’t take any trades I thought I’d share five of my favorite quotes to fill this section in!

  1. If you think being rich doesn’t make you happy you haven’t given enough away
  2. Money is made by sitting not by trading
  3. Don’t worry about looking good, worry about achieving your goals
  4. The key to trading success is emotional discipline – not intelligence
  5. The three most harmful addictions are heroin, carbohydrates and a monthly salary

 

Goals:

  1. Watched the weekly webinar – I have to admit I do prefer when they are pre-recorded and we go through the pairs a lot faster but yeah…
  2. Kept listening to “When Genius Failed” – for my defence it’s a long book
  3. Did macro research in commodities that could be impacted by large sanctions in Turkey didn’t find much but then noticed that Uranium and Coffee were two commodities that could be very interesting! –> One of my goals is to run a hedge fund with an AUM of 13$ B so I need to improve my “macro vision:

Watchlist:

EUR/NZD Short – I swear I don’t have a problem with this pair but… It is often here yep

EUR/AUD short – Could be an interesting one, that being said the daily isn’t amazing

EUR/USD short – Would love to see an arc there

GBP/USD short – One part of me wants it to go higher so we get a better entry price but it may just keep falling so I’ll be taking all the entries

GBP/CHF short – I started backtesting it on Friday and had decent results so I’ll consider this one too!

 

Uranium: It costs around 60$ to produce so there’s potential and the chart looks good

Coffee: The number of coffee drinkers is steadily increasing especially in China, but prices are falling

 

 

Report Card – Friday, August 10th

Daily P/L: -147.66$

How many trades did I take: 0

Overview:

Quite frustrating trade since it went for -0.5% and then went in the direction I had expected however, it made me realize that having rules is good. That being said, I should have a set of rules for my risk entries and a different set of rules for my reduced risk type of entries.

Other than that it was nice to see quite a few potential trades play out even if I wasn’t in them

Trade description:

EUR/NZD short (-0.5%)

  • The weekly is at the previous high – it looks impulsive however, that is a result to only one candle – which was the rate annoucement
  • The daily gave us an extremely “solid” phase line touch
  • On the hourly we had an ascending channel

I shall move my stop to BE once it is running at 1.1%.

 

In the end, EUR/NZD was an interesting trade, if I had kept my stop open at a full 1% risk I would’ve made 1.8% instead of taking a loss – this made me reconsider whenever or not I should keep my risk open on risk entries.

It, however, also gave a potential second entry with the arc formation / double top / high test / 15min ohase line break – but I was out with friends so I wasn’t able to take that trade which in turn would’ve returned 2.8%.

It happens you won’t catch them all

Goals:

  1. Started backtesting GBP/CHF – a pair I had previously deleted
  2. Analysed my risk entries to see whenever or not I should change my management
  3. Kept listening to “When Genius Failed”

Watchlist:

(sorry this one won’t have hyperlinks since  I am in a rush)

EUR/AUD short – it’s forming a decent hover on the hourly so I’ll keep my eye on it

AUD/USD short – if we get a clear top of the correction

EUR/CAD long – if we have a lovely descending channel

EUR/CHF short – if we have a nice correction

EUR/USD short – if we have a correction

GBP/JPY  long & USD/JPY long are my wild pairs for this week, I like their potential

 

 

 

Report Card – Thursday, August 9th

Daily P/L: 14.48$

How many trades did I take: 2

Overview:

Pretty good day, nothing too complicated but ended up talking with two other traders that travel a lot too so it was interesting to see what they had been up to! Smashed through all my goals before lunch time so all in all pretty proud of me!

Trade description:

GBP/JPY short (now closed for BE):

  • The weekly is forming a larger correction after a clear impulse lower
  • The daily has momentum to the downside (too much?)
  • The hourly gave a nice impulse correction

I moved my stop immediately to -0.5% as per my plan. Knowing that it had already ran quite far I was aggressive with my management and therefore moved my stop to BE once it formed a low test.

EUR/NZD short (still have -0.5% risk on the table):

  • The weekly is at the previous high – it looks impulsive however, that is a result to only one candle – which was the rate annoucement
  • The daily gave us an extremely “solid” phase line touch
  • On the hourly we had an ascending channel

I shall move my stop to BE once it is running at 1.1%.

Goals:

  1. Got up before 5:30 and did 50 push-ups as soon as I got out of bed
  2. Finished backtesting GBP/AUD – it actually kinda sucks for my style
  3. Started listening to “When Genius Failed” – interesting read about the problems of over-leverage and quantitative trading

Watchlist:

EUR/NZD short – if we have an impulse and correction

GBP/USD long – if we have a clear rejection of this low

AUD/JPY short – if we have a correction

EUR/AUD short – if we have a triple top

EUR/USD short – if we have a clean hover

 

 

 

Report Card – Wednesday, August 8th

Daily P/L: 0$

How many trades did I take: 0

Overview:

Went to bed the hour before CAD/JPY impulsed lower (I do not leave orders overnight) a position I would’ve closed for 0.5% however, you can’t catch them all. I similarly missed USD/CAD long which I would’ve closed for 0.35%.

Those two missed trades + (UC long from yesterday which would’ve been 2.7%) have made me realize that moving to Europe in order to trade the London session is the right move.

Trade management:

No trades taken or live.

Goals:

  1. Watched the mid-week recap of Falcon Trading
  2. Finished “Adventure Capitalist” worth the read! Would recommend! Jim Rogers is a really interesting man as well as an incredible investor
  3. Backtested for an hour and a half GBP/AUD – I haven’t been finding really good opportunities so far.

Watchlist:

GBP/USD long – if we have a clear arc or an impulse correction

GBP/JPY short – if we have a clear correction (so far it looks good)

EUR/NZD long – if we have a clear correction that is, it moved a lot recently

 

 

 

Report Card – Tuesday, August 7th

Daily P/L (decided I’d report that from now on): -34.58$

Closed my first position on EUR/AUD for 654.41$ and my second one for -108.31$

How many trades did I take: 0

Overview:

Starting to feel sick so didn’t do anything today to break up with my routine and give myself a break. That being said, kinda pissed because instead of waking up at 5am I woke up at 9 which in turn made me check the charts too late to take USD/CAD long as I expected yesterday.

Still trying to figure out where I want to live in September, Gdansk or Wasaw in Poland do seem pretty interesting so we’ll see!

Trade management:

EUR/AUD short:

  1. The scale in got taken out because of a spread of 5 pips, which really bothered me since it then went into profit and I would’ve been able to take a break even instead of losing money on a position where I was right. However it happens, I just have to hope it won’t do so in the future
  2. On my first entry, I saw that it broke lower than the previous correction so I trailed my stop to 1.56320 so that it would be protected by a descending phase line – apparently, that wasn’t enough.

Goals:

  1. Watched more Real Vision content to improve my macro pov of the markets
  2. Kept listening to “Adventure Capitalist” and I enjoy it! Would recommend it
  3. Prepped (healthy) meals for the next three days

Watchlist:

CAD/JPY – short if the correction keeps going

EUR/CAD & EUR/NZD – long if we have clear corrections (EN is kinda ugly so will see)

USD/CAD – long if we have a clear correction (disappointed I missed the first entry)

GBP/USD – short if we have a double top correction

 

 

 

 

 

 

Report Card – Monday August 6th

P/L (locked in): 285$

(400$  locked in on my EA short and -115$ locked in for my scale in for EA)

How many trades did I take: 1

Overview:

Was staying at a hostel this weekend so I did not get up at 5am to avoid waking the others however I did get to the charts by 7am as I had planned to.

Watched the weekly webinar and was happy to notice that I had more or less the exact same views on every single pairs as Mark.

Took one position, EUR/AUD short after a triple top

Trade description:

EUR/AUD short:

  1. The weekly gave a nice head and shoulder and it broke and retested a phase line
  2. The daily gave an impulsive move to the downside and broke out of a channel
  3. On the hourly we could see that there was a correction with a triple top. I entered on the break of the 15min phase line

I  was tempted to not take this position due to the potential level of S/R however, the potential reward (11%) did clearly outweight the risk so I placed my order. Mentally I wanted to immediately close the position once it was in the red however, I knew that it was due to my fear of losing money so I did not do anything

Goals:

  1. Watched the Falcon Webinar
  2. Started “Adventure Capitalist” another book about Jim Rogers
  3. Developed my “best timezone” model on excel for my backtesting data

Watchlist:

GBP/NZD & GBP/AUD short – impulse and clear correction

USD/CAD – short term short but long term long

EUR/USD – long if we get an arc

GBP/JPY & GBP/USD – are my “wild pairs” – they have a potential to drop and a potential to go higher – time will tell

 

Report Card – Friday August 3rd

P/L: 308$ (10$ on EU after being taken out at BE and 298$ lock in for EA but running more)

How many trades did I take: 1

Overview:

Pretty good day, I ended up being triggered on EA by a spike that retraced so quickly I did not have the time to close my position before it was at -0.75% at that moment I realized that I needed to accept the full percent risk and see what was going to happen while trusting my analysis. Woke up at 5:20 to monitor the market and see if any position were interesting – quite a few were interesting but did not want to take positions before NFP. Worked for four hours back testing USD/CAD which apparently isn’t my best pair.

Trade description:

EUR/AUD short:

  1. The weekly gave a nice head and shoulder and it broke and retested a phase line
  2. The daily is also another head and shoulder – other than that it was quite an ugly consolidation
  3. On the hourly we had a clear impulse and a correction/hover

I got quite emotional when I was triggered on the spike, however, I stuck to my guns and I accepted the risk since my analysis was solid and the potential return worth the challenge

Goals:

  1. Finished back testing USD/CAD
  2. Finished and audio book – The coming storm – wasn’t really worth the listen didn’t learn anything
  3. Did a few push-ups as soon as I woke up

Watchlist:

EUR/AUD short if we have a correction & EUR/NZD long if we have a descending wedge on the hourly or short if we have a clear hover – I have a neutral bias

USD/CAD if we have a descending channel within this descending channel

GBP/AUD and GBP/JPY short

 

 

Report Card – Thursday August 2nd

P/L: Currently running +0.25% on EU short but my stop is still at -0.5%

How many trades did I take: 1

Overview:

Nothing much happened today – I had a few set-ups that I wanted to see however none of them materialized (an example was UC long if we had a clear impulsive candle when it was correcting). However, I managed to get a lot of back testing done – completed USD/JPY 2016

Trade description:

EUR/USD short fits my trading plan due to the following confluence:

  1. The weekly showed a clear impulse correction
  2. The daily was impulsive to the downside and broke a phase line I had drawn
  3. The hourly gave an additional impulse correction – the correction was cleaner on the 15min compared to the hourly however it did last more than 6hours so I got in

Goals:

  1. Finished back testing USD/JPY
  2. Finished my audio book – High Growth Handbook
  3. Went for a quick run before 6am

Watchlist:

EUR/AUD short if the hover keeps going & EUR/JPY short if we have one more top

AUD/USD short and AUD/JPY short if we have a second top to the correction

GBP/AUD if we have a nice hover & GBP/CAD + GBP/NZD short if we have a 6hours + correction

NZD/USD if a hover is created

Falcon Trading

Falcon Trading 

For those interested in learning how to trade like I do, I have learned this style thanks to Mark Hutchinson, the founder of Falcon Trading Guidance.

Thanks to him, I have been able to fine-tune my trading style, not only did it allow me to gain a new perspective of the market but it simultaneously allowed me to improve my strike rate, learn a new management style as well as increase my returns! What else can I ask for?!

If you haven’t checked out the free webinar,  I would highly recommend you to do so! (you can find it on their website: https://home.falconfx.co.uk)

Screen Shot 2018-05-04 at 8.44.05 PM

If you have any question contact them on instagram: @falcontradingguidance

Contact

If you have any questions concerning the trades I took feel free to reach out to @max_sydney Instagram or Max Sydney.