Syafi EUR/JPY Trading Journal

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Updates - The setup I learn from Monarch only came
several time a day and we have to wait for very long period
of time in front of chart to get the nice setup
Very Boring thing to do Alone...

So I get my Rainbow scalping back on track and
I Spent 1 full day in all 3 session non stop taking 270 trades,
making 10% account gain while spending some more on the
broker commission.... cutting lose on 2-3 pip mistake, picking perfect entries, doing some home run picking perfect exit etc.
Just to get rid of my biggest problem in trading rainbow......
cutting lose early ........ which is Now i am cured of

Here I include the overview of Cyrox Rainbow system as we call it.

1. Multiple Linear Weighted Moving Averages on a 1 second Chart,
2. NinjaTrader for charting with Free Gain feed or MBT Filtered feed.

Stop loss 2-5 pip usually but it really depend on price action
and the kind of setup when the trade were taken.

NinjaTrader Chart Template file are included along with MBT NT Feed adapter courtesy flashman


All trades are taken live in the
Skype EUR/JPY Day Trading Room
accessible from this link.

The purpose of the chat room is to register the trades in realtime
so i can be more discipline and being responsible in the trades I took.....


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Hi, everyone.

Last 2 week I have been training and taking live trades with
one of the best scalper I have ever known Monarch, he has
been so successful in his trades he barely has time to update
his journal with the trades he takes them.

Linuxtroll has been a good teacher but I was not able to
trade live with him yet, to get the feeling .. my weakness.

Since I have training with Monarch, I have got 100% profitable
trades by average. and 85% by position.

My goal is to take less then 10 trades a day
( I used to take hundreds ), be disciplined in taking the trades
that is considered a good setup and for those trades which
don't qualify as good setup to be taken with smaller lot sizes
compared to the Good Setups.

I will be trading only EUR/JPY since Euro is starting to
replace USD as world Reserve, and Japan is one of the
leading industrial country in the world.

I will be trading "M" Setup as he has thought me which is really simple.

1- watch for a 70+ pip movement.
2- Wait for 30+ Retracement after the movement
3- Enter on initial direction when it hit 18LWMA
4- Enter more if it hit 21 EMA
5- Enter more on 50 EMA
6- Enter more position If it ever hit 144 LWMA
7- Optional Steps . scratch your head, pray & hope if it move further away
and take loss or start Level 3 Position sizing as below and try to get out with as small losses as possible.

Take profit 6-10 pip on average price of all/any position.

I will also be using NorthPro Position sizing which uses Fibonachi Sequence for position sizing.

1st entry 1 lot
2nd entry 1 lot
3rd entry 2 lot
4th entry 3 lot
5th entry 5 lot
6th entry 8 lot and ALLOT of Sweat

I also use Daily & Weekly Fibo to project Take profit, IF i think I can squeze more pips of the trade I took.

Here are the chart of last night trades.

Another Setup that I always take, which usually cause a big drawdown but fun to take is

After the initial 70 pip movement, I start to take position against the prevailing trend. and add more lot as it goes against me each 10-20 pip ..

please note that this is a system that usually give me headache but it is the only oe that keep me from being boring waiting for perfect setup.

This one i take with very small lot size.

This is the position sizing I use which I find quite reasonable for this strategy

1 mini for $4000 account, trading Setup trades

therefore, I can have a maximum of 450 pip drawdown for a margin call
and only 110 pip movement to be back on breakeven after level 6 rescue which is @ -340 pip in the red on the first entry... which is more likely i will exit on 70 pip movement for a 40 pip loss ( and some huge $$ )

Today Asian Session was a no Trade.

syafi could u sign in to windows live htmail i wanna talk with u .

you can contact me using these method.

i ahve added u to my live messnger and iam online now

good Short is forming, waiting for some pullback to 163..70 before i go Short.

strong move down, new short was missed by 3 pip @ 162.52 because it only retrace 28 pip before heading down again to test the previous low.

I have new Short to catch retracement for further move down at 162.53

Missed all my short by few pips today ....... ...

Starting to long ...
1 lot 162.10
1 lot 161.84
1 lot 161.50(pending) - canceled because of news.
2 lot 161.15(pending) - got in at 161.18

this is a trade against the trend so only half lot size compared to normal

got my average price for all entries to 161.80 and exit at 161.85
Stupid counter trend trades.

GREEN pips WAS, IS and WILL always be good regardless if its +1 or +1000

I said in previous post that I always like to get into this kind of trades against the trend after certain price segment movement, that cause some DrawDown and exit with minimal profit just to be in the market all the time. . which was exactly what happened last night.

Great Day to trade today. Let me make some good account increase %

Syafi, how much roi do you average per month? I see you are doing good in both your threads.

only 5-20% I trade with very low leverage.
even though I say I like to take 1 mini / 4k account,
I usually only trade 1 mini / my 10k account.

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No trade for me yet today. just waiting patiently for a good setup to make a good trade

Damn!!...........that is frustrating especially if you lose your money. Because you spent your time starring at the charts and in the end you lose your money.

Thats very good roi. I am also waiting for a good setup today. Price needs to find direction for the day in most pairs. Happy trading.