Hi everyone,
This is a journal that is live testing (not live trading, just demo) a system for the GBP/JPY charts. Just working out strengths and weaknesses of the system.
You most likely won't understand my short hand but its just the way I think when I'm working on something new. So I apologise if anyone is or becomes confused with this thread.
All times are in GMT.
Hotspot on TF1
TF1 Ind 1 long
TF2 Ind 1 long
Ind 2 long
TF3 Ind 1 long
Trade entry @ 00:11 214.59/67 long
Stoploss 214:45
drawback 214:54 being 5 + sread 8 = 13 pips
1:45 trendline transferred to TF1
4:30 trendline TF1 breeched, but both yellow ma's hold well on TF1 & 2
5:00 new trendline holding well, old trendline doing the resistance thing, Ind TF1 red moved over yellow and black with black above yellow price should move up.
7:00 price reached 216:15, 100 fib level TF2 and TF3 Ind's suggest short, TF1 suggests long (possible retracement will wait until price hits trendline and see what Ind's say then, could just be stalling at R1)
7:21 TF2&3 Ind's saying long.
7:42 moved SL level to 215:83, looking for price to hit fib level 127, ?161.8
8:00 hit fib 127 level, TF2 Ind's saying long, TF3 Ind's showing weakness
9:03 hit fib level 161.8 trade closed as REI showed weakness on TF1.
Exit 217:31
Profit 264 pips
notes
trailing stop needs improvement
distance btw TF1's MA'S pink and yellow needs clarification
All in all first run not bad
This is a journal that is live testing (not live trading, just demo) a system for the GBP/JPY charts. Just working out strengths and weaknesses of the system.
You most likely won't understand my short hand but its just the way I think when I'm working on something new. So I apologise if anyone is or becomes confused with this thread.
All times are in GMT.
Hotspot on TF1
TF1 Ind 1 long
TF2 Ind 1 long
Ind 2 long
TF3 Ind 1 long
Trade entry @ 00:11 214.59/67 long
Stoploss 214:45
drawback 214:54 being 5 + sread 8 = 13 pips
1:45 trendline transferred to TF1
4:30 trendline TF1 breeched, but both yellow ma's hold well on TF1 & 2
5:00 new trendline holding well, old trendline doing the resistance thing, Ind TF1 red moved over yellow and black with black above yellow price should move up.
7:00 price reached 216:15, 100 fib level TF2 and TF3 Ind's suggest short, TF1 suggests long (possible retracement will wait until price hits trendline and see what Ind's say then, could just be stalling at R1)
7:21 TF2&3 Ind's saying long.
7:42 moved SL level to 215:83, looking for price to hit fib level 127, ?161.8
8:00 hit fib 127 level, TF2 Ind's saying long, TF3 Ind's showing weakness
9:03 hit fib level 161.8 trade closed as REI showed weakness on TF1.
Exit 217:31
Profit 264 pips
notes
trailing stop needs improvement
distance btw TF1's MA'S pink and yellow needs clarification
All in all first run not bad
Go Getter
When Trading Its All About "WHO YOU ARE BEING"