Going against the books. Can it be that easy? | Forex Factory

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Going against the books. Can it be that easy?

  • #1
  • First Post: Jun 7, 2007 7:36am Jun 7, 2007 7:36am
I'll use this space to log my trades for future reference.

I'll be using doubling up techniques and some times the R:R will be ridiculous, risking 80 pips for 20.

I'll be basing my analysis for this on news, trendlines, early GMT trends (for E/U), Pivot Points and recent high/lows.

I'll only take 2 trades max each day, beginning at around 10GMT . Most will be Stop and Reverse.

Lets see if trading can be that easy...
  • #2
  • Edited 7:59am Jun 7, 2007 7:39am | Edited 7:59am
Today at 8GMT E/U looked like it was in a small down trend so I took a sell at 1.3505 with a stop at 1.3525 and TP 1.3485. Also E/U has been showing weakness after ECB.

Total for the day +20 pips.
  • #3
  • Jun 7, 2007 7:55am Jun 7, 2007 7:55am
And a chart
Attached Image (click to enlarge)
Click to Enlarge Name: eu0706.jpg Size: 126 KB
  • #4
  • Jun 8, 2007 6:03am Jun 8, 2007 6:03am
Long at 3340 as it seems like 3320 is able to contain downtrend at least for today.
  • #5
  • Jun 8, 2007 7:27am Jun 8, 2007 7:27am
Out for +20 pips
Attached Image (click to enlarge)
Click to Enlarge Name: eu0806.jpg Size: 117 KB
  • #6
  • Jun 11, 2007 11:42am Jun 11, 2007 11:42am
With the open of the market I decided to go short because I saw no reason for E/U to reverse. That ended +20. Now I'm again short with a SL at 3372 just above the most recent high and the Pivot Point.
Attached Image (click to enlarge)
Click to Enlarge Name: eu1106.jpg Size: 72 KB
  • #7
  • Jun 12, 2007 10:34am Jun 12, 2007 10:34am
Out for +20. 80 pips atm
  • #8
  • Jun 12, 2007 1:46pm Jun 12, 2007 1:46pm
I'll be reading this thread with interest. What is going against the books? Is that like going to the mattresses?
  • #9
  • Jun 13, 2007 8:44am Jun 13, 2007 8:44am
Short at 3287, Stop at 3318, TP 3267
Attached Image (click to enlarge)
Click to Enlarge Name: eu1306.jpg Size: 74 KB
  • #10
  • Jun 13, 2007 11:51am Jun 13, 2007 11:51am
Quoting tdion
I'll be reading this thread with interest. What is going against the books? Is that like going to the mattresses?
I guess going against the rules would be more appropriate.
  • #11
  • Edited 9:51am Jun 14, 2007 5:19am | Edited 9:51am
Quoting Scientist
Short at 3287, Stop at 3318, TP 3267
-30 for this one.

Short again with double lots at 3303, Stop 3330, TP 3283
  • #12
  • Edited 8:00am Jun 14, 2007 7:42am | Edited 8:00am
+40. Total 90 up until now.

And a chart
Attached Image (click to enlarge)
Click to Enlarge Name: eu1406.jpg Size: 71 KB
  • #13
  • Jun 14, 2007 7:43am Jun 14, 2007 7:43am
So basically you will double your position every time you have a loosing trade, right ?

Few questions: Do you actually have some kind of system or is it more like multiple ones?

how about the ratio of winning/loosing trades ?

and last but most important: how much money (in percent of your br) do you risk in the first place (before the double up)?
  • #14
  • Jun 14, 2007 7:48am Jun 14, 2007 7:48am
Short yet again, stop as previous 3330 above R1
  • #15
  • Jun 14, 2007 7:55am Jun 14, 2007 7:55am
Quoting Canyouseeme
So basically you will double your position every time you have a loosing trade, right ?

Not always but most of the time.

Few questions: Do you actually have some kind of system or is it more like multiple ones?

I wont follow any hard rules, I will use what I posted on first post and my judgment

how about the ratio of winning/loosing trades ?

No idea, will find out I guess

and last but most important: how much money (in percent of your br) do you risk in the first place (before the double up)?

That will depend on winning/loosing ratio. I'm guessing around 10%. This is the purpose of posting my log. It's all on demo for now.
See red parts above.
  • #16
  • Jun 15, 2007 3:27pm Jun 15, 2007 3:27pm
First short stop out, new double lots short taken also stopped out. Let see what happens next week.

Currently up 20pips from beginning.
  • #17
  • Jun 15, 2007 3:28pm Jun 15, 2007 3:28pm
The chart
Attached Image (click to enlarge)
Click to Enlarge Name: eu1506.jpg Size: 72 KB
  • #18
  • Edited Jun 19, 2007 5:11am Jun 18, 2007 7:59am | Edited Jun 19, 2007 5:11am
After last week's news (Housing Market issues and Trichet hawkish) it looks like we might be at the start of another push upwards.

Long 4 lots at 1.3400, stop originally at 3370 now moved to 3380. TP 3420
  • #19
  • Jun 19, 2007 4:49am Jun 19, 2007 4:49am
Quoting Scientist
After last week's news it looks like we might be at the start of another push upwards.

Long 4 lots at 1.3400, stop originally at 3370 now moved to 3380. TP 3420
+80. Total +100.

Now long again at 1.3390. Stop 3370 (S2), TP 3410
Attached Image (click to enlarge)
Click to Enlarge Name: eu1906.jpg Size: 78 KB
  • #20
  • Jun 19, 2007 9:40am Jun 19, 2007 9:40am
Quoting Scientist

Now long again at 1.3390. Stop 3370 (S2), TP 3410
+20. Net 120
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