Another Journal...

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Hi Dave,

Can you include the screen shot for the AUDNZD?

MY Oanda v20 account allows hedging, so I'm fine from that point of view, but being in NZ, most of the forex market activity happens late night and in the early hours of the morning. So alerts for BE won't be practical - I will need to come up with another solution.

Good luck!

Hi Steve! Yeah, unfortunately BE alerts in the middle of the night can be a pain... being in the Eastern Time Zone, I get alerts once the London market opens (3 AM EST) as well as alerts during the later hours of the Asian/Australian/NZ open (for me, its between 1-3 AM). I tested the use of trailing stops, but the results were completely unsatisfactory. Same can be said for using a fixed SL of 1ATR with a TP=1 ATR and no BE - the fourth screen shot is the AUDNZD when the BE = SL; not very pretty.

Attached are screen shots for AUDNZD. The first is the plot of Combined pips, followed by Buy Trades only and then Sell Trades only.

Plot of Combined Pips:


Plot of Buy-only Pips:


Plot of Sell-only Pips:


Plot of Combined Pips when BE = SL:

Cheers Dave,

It seems very clear the BE stops are the difference between being profitable of not. I'll need to put some thought in about how to address that. First thought is longer time frame (e.g. weekly, but would also need to address spread over the weekends)

What would that same AUDNZD chart look like on a 48hour, 72 hour, or weekly time frame?

Cheers Dave.

I'm going to put together a draft trading plan tonight and start making a few trades. I'll start collating some data on live trades and see what I can make work in regards to timing etc., but sticking to your parameters.

Still undecided. I'll look at a few different time frames and test which is the easiest to manage for BE trades.