Tag: trade update

Well bad news keep coming, when it rains it pours eh.

I’ve reached the max drawdown for one of my investor accounts (one of my 5ers trading accounts I’ve been managing for two years)

This blows, I’m not going to lie,

That being said, it’s also worth putting into perspective:

• I remain healthy
• I still have income
• It’s not my only investor account
• I haven’t lost any family members or friends in the last six months
• I haven’t lived through any traumatic event
• I live in a developed country
• My income remains above what I spend even without this account

So can I be sad about this?

Yes absolutely, some things are preferable to others, yet since it’s no longer in my control, there’s nothing I can do about it so there’s no point wailing about it.

Still sucks tho, but I know my trades have been following my trading plan so it’s hard to argue about it.

Now the definition of insanity is to keep repeating the same things and expect a different result.

At the moment the result is a big DD, yet in the past it used to be profitable…

Anyway

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Trade Update

EUR/NZD -1R

Euro Kiwi presented a clear short potential – we opened this daily candle below the pivot level, the 50EMA was within the 20% range, we reached a fresh daily area of supply which even had a weekly stack, the zone was fresh, we hadn’t tested it beforehand

Makes a lot of sense to me – especially the fact it sticks to my trading plan

GBP/AUD

Pound Aussieoffered a long opportunity this am, it required quite a big stop loss, however, it fits within the criteria I have of no more than 70 pips or 100 pips for GBP pairs with this specific strategy

The main issue with it is how big the SL is, which means the TP is quite small, on top of that we are within a range, that being said, it’s valid.

It fits my trading rules, so I’m happy to execute it. Let’s see how things go.

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Watchlist

CAD/JPY

EUR/JPY

GBP/JPY

Take care folks.

Good morning folks,

I come with yet another loss today, I have to say, this drawdown is starting to get really tough on me.

I know it’s possible and that I was to expect it, but holy damn, I do not enjoy this – yet it’s only a question of keeping up my trade execution, but it definitely makes me think if I enjoy trading

It’s a question I struggle quite often with, sadly the answer has always been no, I really enjoy the process and consistency, yet the highs and lows are low.

Anyway

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Trade Update

GBP/CAD -1R

We saw a clear brake of a descending trendline, which gave us a clear area of demand. From there we saw price retest the area

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FX Watchlist

CAD/JPY

EUR/NZD

(I didn’t execute the script signal since the stop sizing was too big for my liking)

GBP/AUD

GBP/JPY

GBP/USD

Good morning folks!

I think I’m going to start posting my watchlist on Mondays and Wednesdays rather than daily, it saves time and to be honest, I mainly repeat myself every day which isn’t very productive or valuable to most.

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Trade Update

EUR/CHF – 1R

Euro Swiss offered a set-up on the 14th of September and resulted as a full loss – it was a clear set-up, we saw a clear area of demand on the daily chart after breaking the descending trendline, breaking the structure and forming a higher high.

The only con was that on the 4hour chart the entry script was a small candle compared to previous momentum. That being said, it fits my trading plan so I’m happy to have executed it

NZD/JPY

Kiwi Yen offered an entry this morning – we saw a potential counter zone – this entry took place slightly above the trendline tho, which is a slight negative point, the trendline will probably attract price, that being said, it’s valid!

We have to keep executing!

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FX Watchlist

CAD/JPY

EUR/NZD

Offered an entry this AM, however, the main issue with it which made me stay out of it, the stop sizing was too large for my sizing

GBP/AUD

GBP/CAD

GBP/USD

USD/CAD

USD/SGD

Good morning folks! I hope you’re well!

Sadly I come with another loss, I wish I was sharing my other trading style where I’ve been running on a few winning trades because this is rather depressing, I’m mainly sharing losses..

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Trade Update

XTI

Clear opportunity, clear set-up, executed according to my plan, it just wasn’t part of the winning sample.

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Watchlist

AUD/CAD

CAD/JPY

EUR/AUD

That’s basically it tbh!

Take care folks!

Good morning folks!

I came across a rather enjoyable podcast yesterday so here I am leaving the link in case you want to have an idea

https://www.joincolossus.com/episodes/85503387/senra-passion-pain?tab=transcript

It’s a podcast with Patrick OShaugnessy and David Senra (the man behind FoundersPodcast)

I didn’t know founders podcast but I’ve added it to my list of podcasts to dive into.

In terms of history podcast I tend to listen to “How to Take Over the World” by Ben (one of the producers from My First Million)

Here’s the link:

https://www.httotw.com/

Founders Podcast will be my new historical/biographical source.

Anyway….

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Trade Update

XTI (Oil)

I decided to execute the trade here while I didn’t execute the 4hour entry that was because I didn’t know the correct sizing and we were trading into a small resistance

However, this trade looked rather fantastic to me, we broke above a resistance and filled it into a support, the 50EMA has been flipped and retested (we can see it is a strong area in the recent price action), it also fit with the pivot levels.

All in all, a lot of positive confluence factors to go with the daily zone and retest of the daily trendline

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Watchlist

CAD/JPY

Canadian Yen is in a clear area for a potential reversal, we’re currently breaking out of the area but let’s see what happens from here

EUR/AUD

Clear potential area, however, it seems like the price action is headed higher and isn’t interested in retesting our area of interest

That’s it folks

Take care

Good morning folks! I hope you’re all well and had a wonderful weekend

I’m currently having fun with a new lower timeframe strategy – using it live at the moment to see how things go from now on rather than purely backtesting, it’s the issue of trading on the 2min timeframe, the backtest data doesn’t go insanely far behind

Anyway, here are the few updates

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Trade Update

USD/SGD -1R

We took a loss here, I’m not overly surprised since we formed a clear double top, however, I believe it still worked with my plan

NZD/JPY

Kiwi Yen also resulted as a loss – this range was definitely a clear issue, there was the option to adjust my TP but since I never focused on doing something like that…

Turns out, I should’ve taken the summer and gone camping I think… Would’ve been cheaper than trading

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FX Watchlist

AUD/NZD

CAD/JPY

EUR/AUD

EUR/JPY

OIL

Clear potential entry on Friday – I’m happy to stay out tho, since I always struggle with position sizes on oil

Good morning folks! I hope everyone is well!

For those that trade USOIL we had a clear entry

FX Watchlist

CAD/JPY

EUR/AUD

EUR/JPY

Good morning folks, I hope everyone is well!

I executed two live trades yesterday on USD/SGD so let’s dive into the trade updates before looking into the watchlist

Trade Update

USD/SGD

We reached a daily area of reversal which had a great weekly chart as well, which made me rather happy to execute this set-up on the higher timeframe

On the four-hour chart, we witnessed a clear double top pattern and a clear reversal candle on this time frame

Let’s see what happens from here!

On the hourly chart I saw an opportunity to scale in, so I was happy to place an order

NZD/JPY

You may also remember that I am currently in a NZD/JPY short position, I figured I’d talk about it since I’ve been holding it for a long time and don’t want to surprise you with a result (you can check the 16th or 17th for the trade announcement)

We’ve been dealing in a range for quite a while now on the hourly, but also the daily chart

On the hourly time frame, I’m quite happy to see a breakout of this range, we saw perfect equal tops so a lot of stops were above that range, I wouldn’t be overly surprised if we saw price reverse and head lower from this level

That being said, we could also witness price head higher and reach the upper range limit on the daily chart. There’s no guarantees

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Watchlist

CAD/CHF

We kinda spiked the area of interest, but it remains in my watchlist

CAD/JPY

Clear area of interest with a strong compression in the price action

USD/JPY

Clear area, however we didn’t really have a great entry signal so I remained outside of the position for now, doesn’t mean I won’t find an entry

Gold

That’s it for today folks! Take care!

Good morning folks, let’s dive straight into it!

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Trade Update

CHF/JPY -1R

Swiss Yen that was executed yesterday resulted in a loss.

It fits my trading plan, which makes me happy to execute it – no regret, while its’ true that we were still inside a range, it remained +EV to execute it

NZD/JPY

As I mentioned yesterday I had an order in the market for NZD/JPY yesterday, which got triggered

I’m happy with this trade, it fits perfectly with my trading plan, so no issue on that side of things for me, let’s see what happens next!

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FX Watchlist

Copper

EUR/AUD

EUR/CHF

EUR/USD

GBP/AUD

That’s it for today folks!

Take care!

Good morning folks!

I hope everyone is well!

I’m coming to you today with a question (especially if you trade in a very similar manner to me)

If you execute a trade on the 4hour -based on the pattern / candle shape and previous candles on the 4hour (I have a script that does that analysis for me)- do you look at the last 1hour close?

I’m thinking of digging into these since I believe it could have some potential to keep me out of losing trades or even reduce my SL / increase my average RR

Really keen to know more about your POV

Here’s an example of what I am talking:

Check on the 1hour if the last candle making up the 4hour candle is bearish

–> In this case it was

Execute a trade using 1.5 candle high for stop (of 1hour) – target 3:1 of 4 hour candle as usual

That makes a 23R trade

Now sure it’s very rare for the last candle to be so small, so this one is an outlier, but I’m only picking it as an example – in any case, the average RR is going to be superior to 3 by quite a lot, the question is – is it going to strongly negatively impact my strike rate?

From there we have another question, if the last 1hour candle is going “against” the direction we want – should we stay out?

If so, should we execute an order entry at the low?

If the next 1hour close is also going against us, what should we do?

Does that make sense to you?

Anyway

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Trade Update

CHF/JPY

I have executed a short on CHF/JPY

Why?

• We’ve reached a fresh daily area of supply, expecting price to head lower
• We then formed more or less a double top before heading back lower
• We are now in the 5th market day of this bearish bias (so I’m still willing to execute)
• We’ve clearly broken the 50EMA – which has been respected quite well in the recent past
• We opened below the daily pivot
• We’re retesting the 50EMA and pivot at the same time

I mean if that isn’t spoonfeeding my strategy I don’t know what else to say

I know some traders like to wait to see a break of the 5min 50EMA before executing these types of trades, however the 5min chart doesn’t give me access to enough data to be able to confirm (or not) if that is worth – it’s something I am tracking moving forward

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Watchlist

NZD/JPY

I have an order in the market so not going to be sharing the LTF to avoid being used as a signal indicator but here’s the chart

Let’s be honest, it does resemble A LOT what I just talked about on CHF/JPY no?

We see a clear rejection of a daily supply level, currently forming a nice sideways correction on the hourly chart as well

Let’s see what happens here!

Those are the only two I have on watch for today, so on that note, I’ll have to say, take care folks! I hope to see you tomorrow and tell you about 2 winning trades 😉