Indicator Free Trading Style

07-29-08 Scaring News

Earthquake at Southern California 5.6
about couple hrs ago. >< I was in it....

I am glad, nothing bad happen around me...

07-30-08 Trading Journal Update

Close 0.4 lot long position for 544 pips loss

close 0.2 lot short for 190 pips profit

close 2.0 lot short for 500 pips profit

close 2.0 lot short for 160 pips profit

close 0.2 lot short for 312 pips profit

07-31-08 Trading Journal

Open 0.2 lot long last night then 2.0 lot long last night for current pull back trade to the price level of 15650.

Result of total 68 pips profit due to no patient on shorter timeframe and close trade earlier instead of hit target.

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Open 0.2 lot test trade today for short in 4H chart by inverse hammar right at 15650 where price fail to break up.

Will short another 2.0 lot when price break down or close below 15550 level for target 15400 then 15250 for 1 and 2 target.

08-01-08 Trading Journal Update

Price seems have trouble to break down 15550 level at this point.

Short position closed profit 12 pips.

Either price hit the bottom by forming double bottom now or price turning into consolidate and transform it into the channel.

Keeping eye on the direction for next week. it might be a tough week.

08-01-08 Analysis Update

Here are some of possible reasons why price couldnt break down 15550 level.

1. Price is getting close to turning point decision.
How do I know this...
Following week is interest rate week. all major bank is going to release
their interests rate decision
2. Potential double bottom
3. Target price had fullfilled
4. previous low=15550 holds price closed above.
5. COT report. ( it will comes out end of today)
this will be my final confirmation that if price is turning for long next week.

I will update again after COT report comes out.

Hi John , I read all your thread an it is very intresting. Is amazing how you work without any indicator (I love that!)
thanks for sharein your thought and sry about my english.
abd.

Thanks for your post.

My trading style is not mature enough to share the strategy. I am still looking the way to improve it by writing my trading journal one by one.

By drop all the indicaotors, I am using candle pattern, price patter, fib retrace/ext, resistance/support idea to make my trading decision.

Because price itself is first hand information. study it and you will amaze there do have a history cycle exist.

I like your trading style , actually i do trade the same way but with a few more tweaks . its good to see traders around trading without indicators .

Keep us updated.

edit:i just sent you an msg at msn.

thanks for your post. feel free to post your idea any time for further discussion.

08-04-08 Trading Journal

Last night, I expect price get hold above support 15550(4h support) and 15568 (h support). As the result, I placed a paper trade long from 15668 and price hit target at fib 127 = 15604.

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From above information, I place 0.2 lot long for test from 15584 which is above 15568 (h support).

If trendline hold and price break above 15629 with candle close without tail, I will add 2.0 lot for into long and target 15660.

This is a small trade setup for me. I will expect 4H doing some setup after interest rate release this weeks.

08-04-08 Trading Journal Update

0.2 long poition close because trendline and support break.

open 0.2 short at 15553

open 2.0 short at 15530

Potential decsending triangle.

Price close below15550 at 4H

15700 / 15600 strong resistnace

Price close lower and lower

I will said decsending triangle might bring price down to the target.

08-05-08 Trading Journal Update

Price break down 15550 and reached first target 15500.

Trading Result

Long position close Loss 108 pips

Short Position closed Profit 1008 pips

08-06-08 Trading Journal

Place 0.2 lot at 15492 (h chart formed twizzer top at major resistance at LO session)

Place 2.0 lot at 15425 (4h chart price break major support)

Target price for both at 15354 (previous price low)

08-06-08 Trading Journal Update

Close all position for total profit 222 pips in multiple lots.

08-14-08 Trading Journal

I havnt update my journal for a week.

EUR is getting a strong drop since last week. Thats a crazy moves.

For now, EURUSD do not have setup for the entry.

In other hand, EURCHF found setup for short.

previous low break down and price get hold at current resistance of price level 16200. if the situation countinue, short trend will play a very high possibility for the next target at 16050.

Short position open at eurchf

16208 0.2 lots

once price close below 16150, another 3.0 lots will kick in.

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Result Evaluation
(1 pips = $0.1 USD)
(Total pips does not calculate by multiple lots)

07/20-07/26 profit $80.10 total 259 pips
07/27-08/02 profit $71.80 total 189 pips
08/03-08/09 loss $49.40 total 61 pips
08/10-current profit $82.88 total 382 pips
(current week is not end yet will update later)

Total Return Ratio is 26% since 07/20

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This week is fourth week of my free indicator trading style strategy in testing stage. After this one month test evaluation, I will post again after three monthes trial period complete.

08-14-08 Trading Update

Urgent Turn Around from EURCHF short into long position.

1. i realize we are at uptrend trendline at wk tf
2. day price did not break down 16150 level which is uptrend fib 382 support.
3. 4h downtrend target complete

expecting long target is

1. 16300
2. 16350
3. 16650

it looks a very profitable trade to me.

I will enter my 3.0 lot once major resistance of 16250 break.

08-15-08 Trading Journal Update

This long testing trade filed.

Opsition closed in 100 pips loss.

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Update for the profit of the week

08/10-08/16 Profit $65.18 Total 283 pips

Return of Invest rate update for this month since 07/20 is 23%

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08-15-08 Trading Review

Past week, I didnt trade eurusd, but after the price unfold today, i went back and take the review, i saw two entry opportunities.

08-22-08 Trading Journal Update

This week is the price turnning situation.

Price had reached the bottom from the huge drop last week by forming head and shoulder at 4H chart.

I found 3 entry and participate them this week.
Total profit is 8% return / 203 pips for this week

Price hit the trendline to end this week's run. For next week, the price might expecting a fighting at trendline to build it bottom before it head to north again due to 4H head and shoulder pattern.

This journal's update schedule will change from daily into weekly.

Hi John!
Are you still tradeing?
let us know how is it going
regrds
abd.