Trumpcard's Journal

Have decided to start a journal here again.

The journal will be a place I can talk to myself (the first sign of madness!) and post trades and develop as a trader.

Trading methods I use include PA based off support and resistance, fibs (mainly 50), trendlines, bounces off long term moving averages.

Timeframes include weekly, daily, 4hr, 1hr.

Other systems/methods: occassionaly look at the Auslanco original method for trading GJ on 4hr/1hr, DIBS, Jacko style Euro trades, TT5 (by Tiki Trader), 4hr inside bars, gap trades, and a great little observation I've made regarding the position of the daily IBFX Sunday bar relative to the 5ema.

Although I've never scalped or used EAs in my trading, am always open to new strategies IF at the end of the day they grow my account balance

Good voyage then .


Cheers

Current trades:

long Aussie off from the 4hr pin bars which bounced off the 365ma - target 0.9659 but watching the 4hr 150ema just below resistance. just. Long Kiwi off the 4hr pb - target 0.7519. Both trades show TT5 trend reversal.

Couple of Euro longs around 1.5675 based off 365 ema touch. Target way out there at 1.6 for the time being.

GC short entry at 4hr resistance just below 50fib.


Couple of GJ shorts, one based off TT5, entry 214.96, other Auslanco strategy at 213.83. Haven't managed this trade so well as I should have exited at lower support around the 4hr 150ema (but was targeting the 365.) Pinbar has formed and reversed the trade stalling at the 61fib. Coincidentally, UJ has stalled at major resistance.


edit: cheers Parlenk!

Alrighty! Been away from trading for a couple of weeks - actually been good. Above trades closed and/stopped out on US$ strength.

Just entered 2 trades risking 1R each. Long Eur/Usd - nice gap, weekly confluence entry 1.4953, stop 1.4853, will trail.

Gbp/Jpy - nice gap, entry 210.44, stop 209.70, TP 211.50

Gbp/Usd - also entered a quick gap trade, entry at 1.9170, target 1.92. Gain: 30 pips.

Edit:
GJ - trade closed for +1.4R
GU - trade closed for ++0.3R nice start to the week!

UJ DIBS short, entry 109.97. Risk 1%

half taken off at 109.78. Free trade. Realised I majorly stuffed up by having my stop at 74pips instead of 19! Damn. Profit +0.13R!

EU, trailing stop of 100 moved to 1.4983. 0.3R locked in.

Another UJ DIBS short entry 109.67 Risk 1%

EU stopped out for +0.35R.

Trade 5 stopped out for -1R

Trade 4 (free trade) stopped out for -0.13R

Trade 6 - placed a sell stop on AU 4hr I4B. Entry 0.8804
Risk 1%.
Business confidence being released shortly. Been some negative press in the media about the economy worsening.

Trade 6 triggered. Currently +65. Stop moved to +24. Using a 50 pip trailing stop. TP at 0.8530 around weekly lows.

Edit: stopped out for +0.65R

Risked 1% each on GU (4 hour pin) and on GJ (daily 150, 365ema bounce).

Trade 7 - GU stopped out by 8 pips for -1R.
Trade 8 - GJ stopped out for -1R (50pip stop was too tight). Will watch for a re-entry.

Possibly overtrading right now.

Trade 9 - UJ DIBS short. 1% risk. Entry 110.06, tentative TP at 109.60 around support.

Trade 10 - EU DIBS long. 1% risk. Entry 1.4908

edit: Trade 10 stopped out for +10 pips or +0.31R

UJ DIBS add-on. risk 1%. Entry 109.67

Trade 11 stopped out for -1R.

Woke up to find Trade 9 (UJ DIBS short) almost hit TP of 109.

Was watching GJ yesterday thinking whether to enter and target the wekkly 365ema. (a good 150 pips away. Nice to see it hit the mark).

NZD/USD DIBS short (NOT using the 0600 rule). Risk 1%R. Target weekly support around 0.6800

Trade 9 locked in +2.1R or 50 pips

had a DIBS short on G/U. Stopped out for -1R.


edit
Trade 9 stopped out for +4.6R

Moved Nzd/Usd to BE.
edit clsoed out Nzd/USD for +0.4 R

EJ DIBS long pending order at 162.56. Risk 1%

Daily bounce of 365. caught between 365 and 150/5emas. TP set to 163.75 near the daily 5ema.

edit: trade in play

Weekly review

Since the last post, have taken 12 more trades, mostly DIBS.

Weekly result: -1.5% on floating equity as at Friday close.
-3.6% on balance (not including open positions).

Trade 27 - UJ long at 110.36 risk 1%R
Trade 28 - GJ short at 205.59 risk 1%R

have 2 other U/J longs at 109.46 and 110.63, Eur/Usd short at 1.4705 and E/J short at 162.19

been very lazy posting. took some moron pills the other week and decided to break every trading rule and massively overtrade, long USD/x, mainly USD/JPY. After 3 years doing this one would think I'd have learnt a few things by now...never has my account whipsawed being hugely up, even reaching my ideal weekly goal, before seesawing down again. in any case, I've aged about 5 years in the process (physically, not mentally) but have had the foresight to just close out ALL open trades as my balance once again had reached my ideal projected compounded return, being 5% a week, with 3 weeks passing since I set the goal.

I have escaped with the skin of my teeth this time (I think my fundamental views mid term were right but money management was non-existent).

From next week, back to sane trading. I'm figuring at the moment that 10 DIBS trades a week, risking 1% on each trade for a total TP of 1% is likely to equate to a net 5% gain, which is my ultimate goal.

End of Week 3: +15.9%

some massive gaps today!