buying and selling the dips within the daily or weekly trend | Forex Factory

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buying and selling the dips within the daily or weekly trend

  • #1
  • First Post: Edited May 26, 2022 3:00am Aug 31, 2020 12:23pm | Edited May 26, 2022 3:00am
JOURNAL,for my own education
2 trades taken today so far

Quoting 1odi
2 trades taken today so far {image} {image}
POUND SWISS sl moved to BE cos it resched R1, and movin towards TP which would be 3R. i m risking 5% on each and every trade targeting 3 times my risk so 15% .
AUSSIE SWISS having some difficulty passing thro previous dail high, but the trend is still up, setups is still intact, so i m gonna leave it for a little more.
there was a nice EURGBP short earlier today, 4hr short setup, 1hr short and 5m short setup but i missed it..well i can t catch all the trades.
the goal is to take the entries on 5m targeting 3R but, or sometimes trail behind the swings if the move is strong. but for that i need t catch the 1hr setups or even 4hr in combination with 5m, so patience is key. so far so good. 1st september, hopefully the market starts picking up some momentum.

Quoting 1odi
2 trades taken today so far {quote} POUND SWISS sl moved to BE cos it resched R1, and movin towards TP which would be 3R. i m risking 5% on each and every trade targeting 3 times my risk so 15% . AUSSIE SWISS having some difficulty passing thro previous dail high, but the trend is still up, setups is still intact, so i m gonna leave it for a little more. there was a nice EURGBP short earlier today, 4hr short setup, 1hr short and 5m short setup but i missed it..well i can t catch all the trades. the goal is to take the entries on 5m targeting 3R...
GBPCHF 3R reached or 15% profit
AUDCHF sl moved to BE as it reached R1
such a nice move on pound swiss, but there was no 5m setup and was right after london closed yesterday, and i try to take setups during london and early new york, cos after 6pm gmt the probability fr a trending move is quite scarse. anyways, moving on, no more risk on the table thus far.

i added to my aussie swiss long, cos price retraced on 1hr, and gave a 5m entry to go long. i set a buy stop and got triggered in, but i see only 1 position now instead of 2, anyways i guess they merged the 2 positions and moved my SL up. the 5m entry has a 10 pip SL and 30 pip TP, around that daily resist.

so total win on AUDCHF was 1 dollar..
np, moving on. no trades so far running, was waiting on a few setups but they didn t materialise, patience!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audchf 1hr entry 5% risk.png Size: 87 KB
Click to Enlarge Name: gbpchf 1hr entry 5% risk.png Size: 86 KB
Click to Enlarge Name: audchf 1hr entry 5% risk progress.png Size: 89 KB
Click to Enlarge Name: gbpchf 1hr entry 5% risk SL moved to BE cos it reach R1.png Size: 86 KB
Click to Enlarge Name: gbpchf 1hr entry 5% risk SL moved to BE cos it reach R1 3R reached.png Size: 67 KB
Click to Enlarge Name: 5M audch buy stop 5% risk.png Size: 66 KB
Click to Enlarge Name: 5M audch buy stop 5% risk update.png Size: 76 KB
Click to Enlarge Name: 5M audch buy stop 5% risk update STOPPED OUT, totol win 1buck.png Size: 73 KB
  • #2
  • Edited 11:35am Sep 4, 2020 7:12am | Edited 11:35am
2 new trades that i m also gonna leave over the weekend possibly since ve entered on 1hr chart.
edit> just realised that on EA trade haven t set the correct risk in %. oh well, same parameters still risk 1 and shooting for 3.
AU went lmost 2.5r but i wasnt watching the charts so i got stopped out at BE as per rules, EA went little above R1 and stopped me out at BE, considering was NFP today, i say it was pretty good, could ve banked some profit beeing friday and eventfull day but c est la vie.
so 1 winner this week and 3 BE trades. it s better then ending a week in a loss.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUSSIE DOLLAR 5%RISK 1hr entry.png Size: 83 KB
Click to Enlarge Name: EURAUD long 5% risk 1hr entry.png Size: 83 KB
  • #3
  • Edited Sep 8, 2020 2:01am Sep 7, 2020 6:29am | Edited Sep 8, 2020 2:01am
first trade of the week, caught the 5m entry a bit late but should be ok, 4hr abc, 1hr abc and 5m shallow abc ( and i say shallow cos the pullback was a small 1 not a 50% retrace). target 3R or 15%.
Went about 2R then it hit BE.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EC sell 5% risk 5m entry caught it a bit late.png Size: 83 KB
Click to Enlarge Name: EC sell 5% risk 5m entry caught it a bit late 5m chart.png Size: 68 KB
  • #4
  • Sep 8, 2020 12:25pm Sep 8, 2020 12:25pm
It's cool that you share specific data that can be used in practice. After all, many of us are interested in trading journals as specific benchmarks. And this is especially true for traders who are just beginning their journey in the market, because it can serve as a real help to understand all the nuances of the market. Every person needs certain help, because any business has its own rules and there are certain specifics that need to be understood. Of course, the experience helps to understand many things. But until you get it, you may face a number of problems. And this will help you and provide a certain peace of mind. And working with emotions is also important!
  • #5
  • Sep 8, 2020 12:51pm Sep 8, 2020 12:51pm
Quoting Brannel
It's cool that you share specific data that can be used in practice. After all, many of us are interested in trading journals as specific benchmarks. And this is especially true for traders who are just beginning their journey in the market, because it can serve as a real help to understand all the nuances of the market. Every person needs certain help, because any business has its own rules and there are certain specifics that need to be understood. Of course, the experience helps to understand many things. But until you get it, you may face a...
these trades that u see here i m also takin in my live accounts, i just manage them a bit different.. meaning i m spliting the % risk into multiple parts with multiple TPs. and i always leave a part to run without a TP just in case. so partial profits for me are a must, cos u can never know what the market is gonna do.
here i talk about having a fixed risk to reward ration of 3<1. so even if u lose 7 out of 10 u still get small profit or atleast BE. the market aproach is using a top down all the way to the timeframe u want to enter, and trying to always go with the daily or weekly flow(trend, if any). in laymans terms, the pattern used is simple pullback within trend. that can be defined as u want, to an ema, a broken level, a trendline or a confluence of all these levels. as for the psich side of things, always risk a % of ur account, and never change that5 risk. if u do something right, the risk in % will become higher once ur account is growing. risk what u are comfortable losing, so u don t second guess urself. even the best setups fail sometimes as we re dealing with probabilities.
atleast that s how i see things.
cheers
  • #6
  • Sep 12, 2020 6:21am Sep 12, 2020 6:21am
while the market is starting to get a bit more volatile i m gonna switch to VSA, more intraday trading. ofc if the oportunity presents itself, i ll still try and swing a position after already taking partial profit and moved SL at BE. charts with explanations on why i m taking the trades will some soon. for those that aren t versed in VSA, u can check out malcoms thread here on the FF.
https://www.forexfactory.com/thread/...2#post13145722
  • #7
  • Sep 28, 2020 4:56am Sep 28, 2020 4:56am
there was another setup on GN as well, but 1 pair for basket is enough, just so i can spread the risk accross multiple curencies. most of the pound pairs are running, potential long setups also later this week might be a thing to look for. crude, brent, possible daily shorts if today s candle confirms,EG looking to short waiting on a pullback on the hourly. great start of the week thus far.
Attached Image (click to enlarge)
Click to Enlarge Name: GA result.png Size: 59 KB
  • #8
  • Edited Oct 30, 2020 3:33am Oct 29, 2020 5:29am | Edited Oct 30, 2020 3:33am
10.29.2020
GBPJPY short 1% risk split in 2 positions, 1hr setup, 5m setup and entry

EURNZD buy 1% daily upwards channel, 1hr trendline break, pullback, 5m entry setup >reached R1 then stopped me out cos of ECB meeting

EURAUD buy 0.5% daily, 1hrly and 5m setups, only concern was ECB>>reached R1 then stopped me out cos of ECB meeting
broke a rule yesterday bu taking another buy on same currency and in same direction, otherwise risk would ve been minimal, still came out with profit, but could ve been avoided!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GJ sell 1% 2pos.5m chart entry.png Size: 51 KB
Click to Enlarge Name: GJ sell 1% 2pos.png Size: 54 KB
Click to Enlarge Name: EURNZD buy 1% 5m entry.png Size: 51 KB
Click to Enlarge Name: euraud but 1%.png Size: 65 KB
Click to Enlarge Name: EURAUD buy 1% 5m entry.png Size: 65 KB
  • #9
  • Last Post: Edited 8:04am Oct 30, 2020 3:38am | Edited 8:04am
10.30.2020
first trade of the day USDCHF long 1% risk entry on 5m>>> closed plus 5pips, it s friday and i doubt it s gonna go anywhere from now on
second trade for today EURCAD sell 1% risk 5m entry>>>> moved SL at BE on same principle>>>went for about 1.5R then hit BE
BE day, week closed
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdchf buy 1% 1hr chart.png Size: 63 KB
Click to Enlarge Name: usdchf buy 1% 5m chart entry.png Size: 54 KB
Click to Enlarge Name: EURCAD sell 1% 1hr chart.png Size: 63 KB
Click to Enlarge Name: EURCAD sell 1% 5m chart.png Size: 50 KB
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