Tuesday 1st of December

Good morning folks! I’m already wearing a christmas jumper, I’ll admit.

But hey, this Christmas jumper made it to the top of the Gerkhin! So it must be business like, we’re good

No updates on my current trades, still holding all four. So waiting to see some clear bearish moves across the GBP.

Otherwise, I only have one pair on watch, so let’s jump straight into it.

FX Watch List

AUD/NZD

Australian dollar / Kiwi is a pair I’ll be eyeing up for today.

The chart I’ll be sharing is quite zoomed out since this zone was created back in April. Now I’ll be straight up with you, I can understand why someone would say that this counter zone isn’t valid. The area of supply that we broke wasn’t fresh by the time the trend line was broken.

That’s entirely fair.

However, the fact that we saw a triple top at that level that looked quite similar to an inversed H&S pattern makes me believe there was something there. That’s why I drew the zone.

The blue line you can see if the monthly stack I didn’t adjust the daily counter zone, however, I’ll only be interested in a potential long once that blue line is reached.

In terms of follow up on this watchlist:;

I am still looking to get positioned in a gold long trade set-up.

AUD/JPY is still moving sideways between two levels of interest, I’ve talked about it enough that I don’t think I need to break it down once again

USD/JPY remains quite far away from the supply area for the potential long

GBP/JPY remains far from the area of supply as well

Will dive more in depth if tomorrow requires me to do so!

Daily book

Starting to understand the importance of skipping parts of historical books, when they start throwing number after number it’s fine to skip, if those numbers will bring any real value you’ll have a clear breakdown about them either before or afterwards.

Learning to skip parts of books is something new, I usually just go head down and read the book – but this book about the Cotton Empire requires me to do things differently it’s so well researched.

Daily tweet

Monday 30th of November

Gooooooood Morning folks!!!

Don’t ask me why, but that movie was in my head this morning.

Hope you all had a fantastic weekend!

Trade update:

Took GBP/CAD 4hour scale in this morning before starting to write this blog post.

I’m starting to be quite heavily positioned on this short. The initial position stop is still at 1% risk, the 1hour scale in stop is at break-even. This latest entry is also carrying 1% risk.

Well I say 1% risk, I don’t risk 1% of my capital per trade, so see that as 1R.

By the way, if I were to do a 5ers challenge, for my other trading style, would you guys be interested in seeing the results>?

FX Watch List

Let’s dive straight into my watchlist then I guess

GBP/USD

I’m still considering taking a GBP/USD short 4 hour set-up. Just need to see a clear break below the 50EMA and then a retest.

It’s just waiting for now.

Won’t have a problem taking a fifth position on the GBP if the set-up happens. In my backtest I won’t stop myself from taking a position because of correlation.

AUD/JPY

Aussie Yen remains on my watch list for this week, unsure what’s going to happen. I’ll be interested in a short from the supply area if the price reaches that area.

USD/JPY

Dollar Yen is another one on my watch, there’s a potential long set-up taking shape, well, the price still needs to go a little lower, however I remain quite keen on it.

That’s it for my watch for today!

A few other pairs are within their areas of supply / demand however they’ve spent too much time within their zones for me to be interested in them.

Daily book

I’ll admit, juggling two heavy books at the same time isn’t that easy, I may need to find myself a third lighter book to motivate myself to read more since I’m quite stuck at the moment.

Daily tweet

Friday 27th of November

Just realized it was thanksgiving weekend.

So hope you’re well!!

Grateful to have the opportunity to do this as a full-time job and keep learning new things every single day.

I don’t have anything on watch so keeping it easy for today/

Have a fantastic weekend

Thursday 26th of November

Good morning folks! Hope all is well.

Had a few messages from traders that are feeling a bit down after taking quite a few losses while following their trading plan. So I shared something on my IG last night:

I had a -8R week this month (on my scalping not with this strategy). It was rough, it was one / if not the worse I ever had. I just kept executing my trading plan while doing more backtesting and reviewing my trades.

It’s all in the small details, you have to keep focusing on them- you have to chop wood and carry water every day.

Yesterday was a 9R day for me with the exact same strategy.

I’m just sharing that to make people see what everything comes to pass would it a be a drawdown or a pandemic. Just keep working and doing the unglorious work day in day out. It will pay off.

Anyway enough talk, let’s dive into the…

Daily watchlist

Gold

Let’s mention gold once more, I now won’t be taking an entry from it based on my 4 hour strategy, however I’m definitely keeping an eye out for a potential bullish run. I expect a bull run both in gold and in oil so I’m staying on my toes.

AUD/JPY

While aussie yen remains quite far away from the area of supply I am interested in it remains an exntremely clean set-up/ There are two ways of drawing the weekly stack, one by taking two imbalance, and the other way to look further back.

We’re at 100 pips away from the key level, so I’m mainly expecting a move either tomorrow or next week. Alerts have be set.

GBP/JPY

Pound Yen is in a rather similar situation as AUD/JPY, we are approaching an area of supply, Around 180 pips to go I believe.

It’s still rather far, there’s also a demand zone lower around 136. I mainly want to keep an eye on this pair. Today seems to be a slow day, so just have to be ready for that

Daily book

Still reading smart money – how hedge funds look at companies. It’s interesting, it would really help to build a check list before taking an investment.

I used to have a checklist I had to go through every single trade on top of my trading plan. These days I stick to my trading plan, but it’s something I’d recommend everyone that has recently updated their trading plan – for those who don’t have a trading plan then you should write one!

Daily tweet

Wednesday 25th of November

Good morning folks! Romain, Harry, and everyone else that read this, I hope you’ll have a fantastic day.


I discovered yesterday that some of you receive this post by email every day, sorry to spam your inbox 🙂

Trade Update:

I took a 1 hour scale in on GBP/CAD, it was clearly below my original entry price, below the 50EMA, the original entry was valid.

Only thing left to do is wait and see. If we break the 4 hour 50 EMA I’ll be looking for another scale in.

Anyway, enough talk, let’s dive into my watchlist

Daily watch

Gold

Gold is the only trade set-up I’ll be eyeing up for today. Sure the DXY looks great but since the EU area of supply isn’t fresh I won’t be trading it. Instead, There’s gold.

Gold broke down lower over the past two days to finally reach an area of demand that has a weekly stack. I’ve been waiting for a while to be able to get positioned in gold for a long term trade.

New Capital FX recently did a video breaking down why we are interested in gold. That being said, I’ll just cover the current chart layout

The blue line represents the weekly stack. So we are now in a potential area of reversal.

If the market breaks this area of demand then the next area of demand will be around 1615 so that’s quite far away, close to 200 points away.

Scale in opportunity

I’ll be looking for a potential 4 hour scale in on both GBP/CAD and GBP/USD

That’s it for me today, there’s a few re-entries opportunity that took place yesterday, that being said, I dislike taking re-entries so I didn’t take any (in my backtest re-entries have a lower strike rate and a lower average return so…)

Daily book:

Got the book: The Smart Money Method: How to pick stocks like a hedge fund pro by Stephen Clapham yesterday. It’s rather interesting and the kindle version cost 2$ so worth it.

Sounds like he’s quite an interesting guy with some clear experience, we’ll see what I think of it once I’ve done it. It mainly address the stock picking technique, I’m extremely keen to know when to sell – not only how to choose the stocks but when we should sell them.

Will keep you up to date

Daily tweet

It’s only when you accept other opinions that you can grow. Otherwise you’ll stay where you are.

Tuesday 24th of November

Morning all, hope you’re well and executing well!

Trade Update

Figured I’d update you with my GBP/NZD – it’s now a loss. I didn’t take a 4hour scale in since it was overnight.

So far this month I am at 4 losses on and one small win (my 4 hour scale in on NZD/JPY early in the month) for -3.8R.

I’ll admit, that’s not the best month ever – but I’ve been executing correctly so there’s no big trouble. As mentioned in my ASR – as long as I execute correctly I’m happy.

That being said, I did also take two extra trades yesterday: GBP/CAD and GBP/USD they’ve been on my watchlist for quite a while now, it was only a question of pulling the trigger once they gave the entry signal.

Even tho -3.8R may seem like a lot, those two trades alone (if they are winners) could put me back up at 2.2R for the month. That’s why I like having 3:1 risk reward (and that’s without including any potential winning scale in).

Here’s the chart of GBP/CAD

The chart for GBP/USD

Time for our usual segment, the daily watch 🙂

Daily watch

NZD/JPY

Kiwi Yen has now reached the area of supply. One slight problem, is that I doubt it will give us a script entry. It may prove me wrong tho, time will tell.

If a script entry is provided I’ll execute on this trade no question asked.

USD/JPY

Dollar Yen followed suit with the DXY and bounced back higher, away from the area of demand. That being said, I’ll keep an eye on it. Tho, to be entirely honest I’d be fine with the USD gained strength, that would fit with my GBP/USD position 🙂

Scale in opportunity

I never really mention the scale in opportunity on this blog, but I’ll be looking for a potential scale in on both GC and GU today. Well, that is if a set-up presents itself.

Daily book:

Slowly going through the book about Cotton and how it shaped our modern capitalism and industry. It’s quite a slow read I’ll admit, I may dip into another book at the same time.

Ohhh, just realized a book I pre-ordered comes out today, so I’ll probably have that on my kindle too. Forgot the name tho

Daily tweet

It’s so real I’m sorry I had to share 🙂

Monday 23rd of November

Hope you all had a fantastic weekend

Let’s jump straight into my FX watchlist

Daily watchlist

GBP/CAD

Pound Cad as usual remains on top of my watch. We actually just reached the zone, so I’m waiting for a short set-up right now

I think this set-up is great, just need a script entry now

GBP/USD

Pound Dollar is also approaching the reversal area that I’m keeping an eye on. Let’s see what happens. If the zone is reached and we then get a script entry I’ll be taking a short.

NZD/JPY

Kiwi Yen is also on my watch as per last friday, so not going to go in much detail about it today (as the previous two pairs) because we’ve been over and over these set-ups.

USD/JPY

Dollar Yen is also on my watch for a potential long play. However, I do have to mention the fact that the trendline I have drawn on the daily isn’t the prettiest out there. I use it as an excuse to be able to have this area of demand – the price moved so strongly form there (okay it was news related but still). I wouldn’t be surprised to see the price react from there 🙂

Daily book

Finished SuperStocks from Jesse Stine, really enjoyed it, going to go back through my notes in a few days to keep everything nice and fresh inside my brain.

It really made me reflect on the importance of exits. Really enjoyed it.

His trading style requires a lot of work, to find companies worth investing in. However, he does a great job of it and managed to pull some insane % over the years.

Daily tweet

Fuck hope. Execute.

Friday 20th of November

Let’s get started straight away, no croissants or anything like that to talk about this morning 🙂

Ohhh actually, received a cool email yesterday. Here’s a quick blurb about it:

Do not forget about the 4% Battery Life Rule.

My laptop is at 4% right now and my charger isn’t here which means I must race to the finish line and get this email done…

… before the battery dies.

Yet if I had a full battery life, I wouldn’t be in such a rush.

But today I don’t have the luxury.

So I just sit down and type.

Not relying on inspiration or creativity or nothing.

Just pure focus, devoted to the task at hand with one goal: to get it done.

But if you look within, you will quickly discover the BIG secret to life…

What’s the BIG secret – you ask?

Time isn’t real. It’s an illusion.
(Max here, watch Interstellar guys!)

If you operate on 100% battery life every day, it will take you a lifetime to succeed.

But if you work every day as if you only have 4% battery life remaining, then you’ll get more done in less time and succeed WAY quicker.

It’s all in the mind.

And working with urgency is how you manipulate time.

4% battery life – treat every goal on your list as if this was true and watch how quickly you achieve it.

I really enjoyed that email from Tej Dosa here’s his twitter if you like his content

Daily Watch List

GBP/AUD

I’ll be eyeing up Pound Aussie for a potential short set-up. I doubt it will happen today. That being said, better to be on the ball than late.

I’m mentioning this pair even tho it doesn’t have a weekly or monthly stack since I find the set-up interesting. I won’t be executing it, there’s better set-ups across the GBP pairs.

GBP/CAD

Hell yeah, Pound Cad is still on my watch – sorry but now my watch will be exactly the same as yesterday! GBP/CAD is close to an area of supply. Liking how the 4hour price action is shaping up as well.

All in all, if there’s a script entry it will be a good Set-up. There’s several ways of drawing the higher timeframe stack too.

GBP/USD

No big surprises here, I did just say that my watch hasn’t changed from yesterday.

Btw, don’t forget to move today folks! Gotta exercise and get some fresh air!

If we get a short from the supply area, that will be an A+ set-up. I just love the weekly.

NZD/JPY

I did mention Kiwi Yen yesterday right? I had incorrectly drawn the supply area in the past, however after correcting it, I noticed the following – it’s still fresh. Sure, it’s a long time ago, but I’d argue it’s still valid.

USD/JPY

Last but not least, let’s mention US Yen, let’s see what happens, I definitely like the set-up, I’m only slightly hesitant due to the fact that the trend line break wasn’t that impulsive, a news announcement, I believe it was the vaccine, make it break above. There wasn’t any real follow up.

The area of demand remains valid, the monthly stack is also there, all in all, I think it’s a valid set-up.

I hope you guys enjoyed this one!

Daily book

I actually didn’t read much yesterday, well I did but… SuperStock is now showing charts he used and his research before buying stocks and how he exits positions or areas he finds value. Makes sense to me.

So it made me reflect a lot in terms of what I could use within my own trading. I’m not sure as of yet.

One thing for sure is the following: Your exits are more important than your entries. I focus a lot on my entries, for my exits I usually use the 1:3 risk reward ratio, but there could be something more there.

Will need to dig into it.

Daily tweet

Remember, you can always find a way to move forward and remain positive, no matter how dark the hole you’ve diged yourself is.

Thursday 19th of November

Random thought of the morning: I get out of bed way more easily on Thursdays because that’s the day where I go to the bakery and buy a “pain aux raisins” for breakfast. Wonder if there’s any healthy trick I could use for other days.

Really been struggling with getting up at 6:30 the last few days. Anyway…

Oh and my NZD/USD trade resulted in a loss. So far three out of the four trades I took this month were losers. Let’s hope we get some good trades to take us out from the red.

Enough said, let’s dive into the…

Daily Watchlist

GBP/CAD

Pound Cad will be in this watch until it either breaks a lot lower or reaches the supply area and gives an entry.

Yesterday’s high was within less than 7 pips from the zone, I’ll admit I’m quite sad it didn’t reach the zone, if it had I may be in the position.

Since it hasn’t reached the supply area, that zone remains valid, so I wouldn’t be surprised to see the price being attracted to it now that most structure traders are in this position.

If it breaks down lower, that’s fine, we can’t catch them all. There’s no point chasing a trade.

GBP/USD

Pound Dollar, just like yesterday remains on my watchlist for today. We saw a rather clear double top pattern on the 4hour chart within the previous area. However, that area had already been tested on the 10th – where it didn’t provide us a script entry, which is why it’s not a fresh zone.

To take a short on this pair I’d wait for 1.335 and higher to be reached and then patiently wait for a script entry.

NZD/USD

I’m actually surprised to have this one on my watch, at the time of the high I thought it had reached the daily area. I was wrong. It didn’t.

The supply level from 72.8 to 73 is therefore on my watchlist. The weekly stack is rather clear and obvious as well.

That’s why I keep most of my zone drawings on my charts, so I can quickly see the story of the price action across multiple years and make sure I didn’t do a mistake.

USD/JPY

Dollar Yen is the last pair on my watch for today. We are approaching the areaof demand it had created on the 6th of November – where the price then exploded to the upside and broke the descending trend line.

As mentioned yesterday, there’s no weekly stack, however the monthly stack is extremely obvious to me, so I’ll be willing to execute a long if a script entry is provided.

Daily book:

Still going through SuperStocks, around 60% in. I have to say, I’ve really enjoyed reading it, and can see great potential. I may start looking into stocks once my workload on my scalping is reduced.

Jesse just sent out an email to his email list – I haven’t gone through the doc yet but here’s the link:

https://docs.google.com/document/d/1ujbo8mVHv6bwClrWtc3FV0HCgm5J1WKjG6YlCUVZgEk/edit?usp=sharing

If you enjoyed it, go follow him on twitter and join his newsletter

Daily tweet

Wednesday 18th of November

Just realized how quickly this year as passed. well at least the last few months. I started sharing my daily watch in August, and have been doing it daily ever since.

I’ve only missed my 9am deadline a few times, yesterday’s post was uploaded, I just forgot to link to it from the daily watchlist page of the blog…

Ooops 🙂

Let’ see if I can get this one up before 9am too!

Daily watchlist

GBP/CAD

As mentioned yesterday Pound Canadian Dollar is something I have on watch for this week. We’re at the higher limit of the market structure, so we can assume a lot of retail traders are going to be positioned short.

That’s great, institutions will probably push the price higher to their supply zone – tag out all the retail traders, and then drop.

I’m not one to say that all institutions are Machiavellian, but… I mean, annoucing a successful vaccine trial result the day where the CEO had announced a few month prior he would sell most of his shares is… Yep. That’s some manipulation.

Anyway here’s the chart:

GBP/USD

Pound Dollar is yet another pair I still have on my watch list, We’re approaching the trend line break supply area. Which I find rather pretty. I have to say the weekly is also gorgeous so I’ll definitely be keeping an eye out for this one.

I’m liking the fact that both GC and GU are both looking bullish for a while and then expecting a drop. I don’t care much about pair correlations, but when we have a winning trade it usually pours. Euh “When it rain it pours” that’s what I meant 🙂

USD/JPY

Let’s also mention dollar yen. While I didn’t take the short set-up, it would require me to use several weekly imbalance candles to have a stack, something I wasn’t comfortable doing in the past. I will be looking for a long.

The higher timeframe stack goes to the monthly, there’s no weekly stack – so it’s all the way back into 2016. That being said, with Citi and Goldman calling for a weak dollar – I wouldn’t be surprised if we saw a long trade soon.

Anyway, those three pairs are on my main watchlist for today. If you have any questions are to why feel free to reach out!

Daily book:

Gave my focus to SuperStock yesterday by Jesse Stinger, great book so far, it’s about identifying stocks with a potential to becoming multi bangers. The reasoning behind it makes a lot of sense.

However, he’s the first to admit, that it will require a lot of work to find them, you probably find 8 to 10 super stocks per year, others that don’t fit all his criteria are more common tho. He’s got 12 key criterias, but so far he’s added an extra 12 or 24 I’ve lost count 😀

Haven’t finished this book yet. That being said, it’s probably one of the best book for investors. He’s an actual trader that shares verified returns, is still active in the market and aims to make returns superior to 100% per year through his stock investing.

Sure, his method of investing isn’t to buy an ETF and sit quietly – it’s about doing a lot of work finding a few great stocks with clear catalysts and then sitting on his hands till they reach his profit target.

Daily tweet

I’m betting that the FED will keep propping the market up so that there won’t be a crash right now.

However, buying hedges does seem rather interesting.

Especially when the Economist prints an cover saying there’s hope.