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Alternative Trend Following- A Journal

  • #41
  • Edited 10:06pm Jul 25, 2007 9:30pm | Edited 10:06pm
Hi edge540,

Thanks. I will take a look at your system. Problem is I do not have the ability to trade e 15min charts due to my work commitments. You can post your methods here, i have no qualms, my mentor told me once, "choose a method and make it your own". These trades are LIVE, with real money. I'm a little over 4% down for the month.

I like the idea of doing carry trades, it reduces alot of noise from the market esp the intraday Price action nuances. My last position now USDCAD is -50 (guranteed -70) pips at the time of posting... once the stop is triggered, i'll just lay off for a while, and look for entries when the retracement ends. I'll proly end up with -200 plus pips by the end of the month, i'm not into this shorting business at least until the market swings a lower high.

regards
Jest
  • #42
  • Edited 10:36pm Jul 25, 2007 10:03pm | Edited 10:36pm
Hi guys,

since i have set things going and posted my live trades here , this thread would likely turn out into a journal too. I'll be posting trades and at the same time work some touch ups on the system as time goes by.

So here's the deal...

I have opened another account with my broker and will solely trade this system for that account. The success/failure of this system will depend on this account. I will enter trades on my own discretion and i have added a rule as a form of filter.

- To take a reverse, price MUST make a swing which is lower/higher than the previous high. Attached image as an example.

PS: If your broker include SUnday bars, you might wanna make the option on using 6SMA. Oh no restrictions if you wanna use 7lwma like Johnedoe suggested too. Whichever is comfy.
Attached Image
  • #43
  • Jul 26, 2007 3:52am Jul 26, 2007 3:52am
The good thing about using the 15min chart to confirm a trade is that it doesn't require you to watch the screen all day as you are only looking at the previous days price action in a bit more detail.Check these days out,they were actual days I traded with a positive result.
17/7 Buy,15/7 Buy,10/7 Buy,9/7 Buy,1/7 Buy,27/6 Buy,19/6 Buy. GBP/USD.
I'm in NZ and my charting package provides a daily candle open at 1700 EST (which is 9am NZST).This is convenient for me as I can place a trade in the morning and continue the days activities without having to monitor the trade.I look for a smooth trend on the 15min chart to confirm the daily,look at the above dates and you should see what I mean.
  • #44
  • Jul 26, 2007 4:01am Jul 26, 2007 4:01am
i'll take note that, thanks.

So you're saying that i should use the 15 minutes as a look back...say if the price din go frenzied or flat, i should be having no much problems taking a position with the trend the previous day candle made right?

PS MODERATORS,
Can i request this thread shifted to the Journals section?
  • #45
  • Jul 26, 2007 4:14am Jul 26, 2007 4:14am
You're onto it,I know this view is open to interpretation and we don't all see the same things but if you look at the examples I've given it should be clear. If you want more examples let me know and I'll post them.
  • #46
  • Edited 10:06am Jul 26, 2007 9:37am | Edited 10:06am
http://img63.imageshack.us/img63/354...enshot1nj9.png

http://img403.imageshack.us/img403/1...enshot5qf8.png

If you had entered a single trade in the EUR/USD at candle open per day in direction of MA, long when green SMA7 is above red WMA7 you would be up about 390 pip at the close of yesterdays candle, so far today you would have lost 20 pip at time of this post.

PS.... these entries are naked, no TP, no SL.
Same Whore .... Different Dress
  • #47
  • Edited 3:08am Jul 27, 2007 3:07am | Edited 3:08am
Quoting johnedoe
http://img63.imageshack.us/img63/354...enshot1nj9.png

http://img403.imageshack.us/img403/1...enshot5qf8.png

If you had entered a single trade in the EUR/USD at candle open per day in direction of MA, long when green SMA7 is above red WMA7 you would be up about 390 pip at the close of yesterdays candle, so far today you would have lost 20 pip at time of this post.

PS.... these entries are naked, no TP, no SL.
John

You should have reversed to short now, are you short?
Regards
  • #48
  • Jul 27, 2007 4:48am Jul 27, 2007 4:48am
Quoting howard
John

You should have reversed to short now, are you short?
SUrely u'd have made a killing today if you have reversed th e position. I was itching to sell the geppy when it touched 420 this morning, but previous losses shorting against the overall trend stopped my from doing so. It went down 300 pips after that...lol.
  • #49
  • Jul 27, 2007 5:35am Jul 27, 2007 5:35am
Quoting jest1081
SUrely u'd have made a killing today if you have reversed th e position. I was itching to sell the geppy when it touched 420 this morning, but previous losses shorting against the overall trend stopped my from doing so. It went down 300 pips after that...lol.
Well this is the way trends start, who knows, this may be the beginning of a trend and maybe not, we have to take our chances with stops above previous day's high.

I had EUR short and my target hit at 38.2 fib retrace, but I believe I should not have set any targets.
Regards
  • #50
  • Jul 27, 2007 8:34am Jul 27, 2007 8:34am
Quoting howard
John

You should have reversed to short now, are you short?
YUP....shorted it and added 50 pip to the account.
Same Whore .... Different Dress
  • #51
  • Jul 30, 2007 9:46am Jul 30, 2007 9:46am
sunday night 9:00PM PSD entry turned into a lllllooooossssseeeeerrrrr.....stopped out ..........-50 pip.
Same Whore .... Different Dress
  • #52
  • Jul 30, 2007 8:15pm Jul 30, 2007 8:15pm
I have been looking at most of the charts on the daily, very erratic and PA looks like its having a wild ride. I haven't found any attractive trades to take yet. The moves of the past week has eliminated months of the appreciation made by the currencies and here on im not sure if we have seen a top for the year or a continuation pattern, looks like i might just be flat this week.
  • #53
  • Jul 31, 2007 8:04pm Jul 31, 2007 8:04pm
Hi,

est 3 short positions,

EURJPY Short @ 162.00
EURUSD Short @ 1.3673
GBPUSD Short @ 2.0294
  • #54
  • Aug 1, 2007 7:42pm Aug 1, 2007 7:42pm
Added New position

USDCAD Short @ 1.0573
  • #55
  • Aug 2, 2007 10:06am Aug 2, 2007 10:06am
Nice short on the US/CAD
Same Whore .... Different Dress
  • #56
  • Aug 2, 2007 1:54pm Aug 2, 2007 1:54pm
Quoting jest1081
Hi,

est 3 short positions,

EURJPY Short @ 162.00 : -90
EURUSD Short @ 1.3673
GBPUSD Short @ 2.0294 : -60
realised p/l for Aug = -150pips

current open positions
EURUSD Short @ 1.3673
USDCAD Short @ 1.0573
  • #57
  • Aug 2, 2007 8:26pm Aug 2, 2007 8:26pm
Quoting jest1081
realised p/l for Aug = -150pips

current open positions
EURUSD Short @ 1.3673 : - 49
USDCAD Short @ 1.0573
P/L - 199pips

Currrent Open Positions
USDCAD Short @ 1.0573
  • #58
  • Aug 6, 2007 10:23pm Aug 6, 2007 10:23pm
Quoting jest1081
P/L - 199pips

Currrent Open Positions
USDCAD Short @ 1.0573 : -9 pips
Should have moved my stops.
Realised Loss : -208pips


Est Short USDCAD @ 1.0517
  • #59
  • Aug 6, 2007 11:33pm Aug 6, 2007 11:33pm
Hi,

i've been facing some real bad trades lately. probable reasons are bad stops and too much discretion. while i have not aken goot tabs on price swings. I have decided to give this system a total make over. Going for something less volatile and more probable.

My Rules for Trading & Determiniming Bias.

1. Never trade against the 50 SMA or 84SMA(TBC) trendsetter. (Thanks sensei)

2. Look at last 2 swings.

a. If high is higher and low is higher - uptrend
action : look for buying oppurtunity on retracement

b. If high is lower and low is lower - downtrend
action : look for selling oppurtunity on retracement

c. If high is lower and low is higher - consolidation
action : look for breakout direction on 84SMA trendsetter

d. if high is higher and low is lower - speculation
action : stay out and wait for a proper swing to form

regards
jest
  • #60
  • Aug 9, 2007 8:51am Aug 9, 2007 8:51am
Quoting jest1081
Est Short USDCAD @ 1.0517 : +5pips
Realised Loss : -208pips
Realised gains: +5pips
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