Weekly remarks

On my main account, where I`m trading short term trades on GBPJPY, trading went realy bad this week. I gave half of the profit back and I`ll not trading anymore till the end of the month. Want to keep the stats positive. It seems history repete it self. I went though this last February and March, GBPJPY went in a range, where was no normal price moving, only spikes all over the place. And my system fall down, just didn`t work. I needed long time, to recover and this is sure not the thing, I would do it again!! Until the ATR will stay at around 200 pips, I will use the method, I`m trying to present here. This is my weekly view on GBPJPY:

GBPUSD range, USDJPY range = GBPJPY range
USDJPY fall in a range, but resistence above hold the price, could be tested again.

GBPJPY ATR fall as expected. Not a good sign, it will move in a range between strong support and new resistence, wich form this week at 150.80. ATR will most probably stay around 200-250. All this will lead to a spikey price action. I will not trade it with my standard system, until something change.

Have a nice day all!

First trades this week, GBPJPY buy (1H chart) and EURAUD sell (1H chart):

This was realy quick, I took first profit on GBPJPY (1H chart), trade is BE.

Interesting situation, still short EURAUD, but long pending order set (1H chart).

Looking at the charts today, with fresh eyes, I`m adding EURCAD (weekly chart) on my watch list. Last week a WCC was formed and I like the location too, SHORT.

EURAUD first take profit in the bank, trade BE (H1 chart).

EURCAD pending sell (H1 chart).

EURCAD pending order removed.

Two positions on GBPJPY were closed on BE.

New open on DAX (1H chart) and EURCAD (1H chart):



BOTH OUT, DAX AND EURCAD, FOR A LOSS.

Another trial on GBPJPY long (1H chart):

EURCAD signal is still valid and I place a new pending sell, the same level as before. Price can`t close above 1.5625 at the moment, long wick at that level. Looks like DAX will continue higher. My today attempt to sell it was because price break previous week high and fall.

Today I try different entry type and I didn`t have time to post. This is current situation:

- GBPJPY yesterday long closed for a loss, today I have new long entry, with TP1 hit.
- UK OIL sell oreder was opened during the night and TP1 closed after several hours zig zag in a small range.
- EURAUD bring me two losing short trades, before I was able to established one with TP1 hit. Long trade is still alive, TP2 hit.
- AUDNZD I have sell trade open on full SL.
- EURCAD I had two losing trades, nothing open at the moment. With new entry type, I just missed the third entry.
- DAX one sell, SL hit. This one was quite big. I was simply not quick enough to re-enter.
- XAUUSD fall realy nice today to the bottom of WCC, I opened long trade and when I tried to set it on BE, I press wrong button on the platform and close it. I`ll try re-enter long tommorrow.
- USDJPY two open positions from last week were closed on BE, I re-enter short today, BE trade, no TP yet.

Trade safe!

I`m back to this jornal after a while. Still trading GJ only, left idea of more then one strategy behind, it is just not worth it.

I`ll use this jornal to write down some fact and paradox about trading, that comes to my mind here and then. And you can do the same if you like. I hate disscusion in a way, I`m right, you are not, because it is normal for me, that two people will disagre almost about everything.

I have 10 years of trading experience as retail trader, but never work in industry and with no financial education. Most of you will probably think I have no idea, what I`m talking about and you could be right. As I`m almost 50 years old, I can live with that, as long all talking will go in a polite maner.

FACT : When I open a trade, in the same moment I lose money for broker spread and commision!

today trade