Hi guys,
I start my journal today, the premise is very simple:
* Looking for a single 1:3 RR trade with SL:TP = 10:30
* Using E/J because spread is tight, and 30 pips is only a small portion of its daily range, should therefore be achievable during liquid market conditions. I have been having some good results on GBP/CHF but the spread is too high to only target 30 a day, and it suffers from a lack of liquidity during Tokyo hours.
* Only look for high probability VSA setups on the M15, supported by PA.
* Since this is a journal and not the interactive section I will post the trades once they are complete rather than call them live. I will post both winning and losing trades.
* All times are stated in Melbourne, Australia time.
* These are live trades with real money, lotsize = 1 lot so 1 pip = 1,000JPY.
Trade #1:
Open:
Date: 19 OCT 2009
Size: Buy 1.00 contract(s) to open
Market: Spot FX EUR/JPY CFD
Level: 134.834
Stop (Not Guaranteed): 134.734
Close:
Date: 19 OCT 2009
Size: Sell 1.00 contract(s) to close
Open Level: 134.834
Market: Spot FX EUR/JPY CFD
Level: 135.127
Justification: Hourly S1 at 134.8, high volume down bars shows strength.
Chart:
I start my journal today, the premise is very simple:
* Looking for a single 1:3 RR trade with SL:TP = 10:30
* Using E/J because spread is tight, and 30 pips is only a small portion of its daily range, should therefore be achievable during liquid market conditions. I have been having some good results on GBP/CHF but the spread is too high to only target 30 a day, and it suffers from a lack of liquidity during Tokyo hours.
* Only look for high probability VSA setups on the M15, supported by PA.
* Since this is a journal and not the interactive section I will post the trades once they are complete rather than call them live. I will post both winning and losing trades.
* All times are stated in Melbourne, Australia time.
* These are live trades with real money, lotsize = 1 lot so 1 pip = 1,000JPY.
Trade #1:
Open:
Date: 19 OCT 2009
Size: Buy 1.00 contract(s) to open
Market: Spot FX EUR/JPY CFD
Level: 134.834
Stop (Not Guaranteed): 134.734
Close:
Date: 19 OCT 2009
Size: Sell 1.00 contract(s) to close
Open Level: 134.834
Market: Spot FX EUR/JPY CFD
Level: 135.127
Justification: Hourly S1 at 134.8, high volume down bars shows strength.
Chart: