Putto's Trade Ledger

Trade 128

Short 189.20

T/P 187.50

S/L 191.20


Trade 129

Short 190.10

T/P 188.00

S/L 191.50

Hi Putto

price is currently trading above 15m, 30m, 1hr and 4hr gann. although geppy is currently overbought. I don't think the bears will have control, we are in a strong uptrend.

i am learning and i will ask questions at the right time.


thanks putto,

i hope to be a great trader like you someday, i keep protecting my profit with trailing stops, that way i don't end up loosing every pip i make.

Hi Titan

Geppy hasnt convinced me that she is out of range mode yet. Typically after such a huge down move it will be a period of consolidation before the trend will continue or reverse.

I identify trends on a higher timeframe basis such as 4H and daily and to me on those it still looks like it is working its way back to sanity. I expect at least another week of ranging (im not going to count Monday as the last two weekends have seen insane gaps that have caused panicky opens to the week).

I am by no means saying my approach is the correct one, it is just different as i dont rely on smaller timeframes for trend identification, so as such my targets and potential drawdowns are bigger.

But then again this is the beast and we all know what can happen...thats what stops are for!

One thing for sure, i wont be leaving any trades open over the weekend!

Also i dont mind answering questions..i dont bite.

One last thing; as far as Gann analysis goes, Karmo has put everyone onto a long held insiders tip; if gann cross is after QQE cross then the price is just getting out of overbought/soldness. If Gann cross before or at same time as QQE then high likelihood of trend reveral.

What a crazy start to the week! Goes to show that fundies ARE important as well.

S/L hit on Trade 128 -200 pips

Trailing on Trade 129 hit at 189.70 + 40 pips

Trade 130

Short 189.00

S/L 190.50

T/P 186.80

hi Putto,

please tell us 2 words about your trailing stop management.

Thanks

Hi Ginko

My general trailing stop set ups are as in my first post. To quickly restate, ill put a trailing on if and when the trade is positive in my direction (protect those profits!) or when i go to sleep and the size of the trail will depend on the whipsaw volatility at the time. As a rule of thumb I have a look at the last two swing high to low and see how big that move was to see how comparitively volatile the market is. Also I keep an eye on the time and pending important news as different markets being open and news trading usually mean more volatility. Once determined how volatile it should be in near future, I place a trail that hopefully wont get hit on the usual up and downs so I can still ride the move. The idea is that my trail will only get hit if and when market sentiment has reversed. I also keep an eye on the time as different market times are usually more volatile than others. If am not sure about a move I might want to have a tighter trail if the move is close to B/E and widen it once I am well into profits.

Also I dont treat a setup as static; I keep monitoring market conditions, news, equities, commodities etc as they can change in an instant and so should my assessment as to taking and protecting profits.

Trailing on trade 130 hit at 188.15 +85 pips

Trade 131

Short 189.00

T/P 186.80

S/L 190.50

Trail hit on trade 131 at 189.15 -15 pips

Trade 132 Short at 190.50 T/P hit at 186.80 +370 pips

Trade 133 Long at 186.50

T/P 189.70

S/L 184.90

Traliing on trade 133 hit at 187.20 +70 pips

Trade 134 Long at 186 T/P hit at 188.50 +250 pips

Trade 135 Long at 189.15

T/p at 191.15

S/L at 187.70

Trade 135

Trailing hit at 189.55 + 40 pips

Trade 136

Short 193.10

T/P 191.00

S/L 194.60

Dear Putto,
What about your trading?

Dear Putto, where are you? really busy huh?? i hope you will be back next week with your post. regards

Hi Guys

No nothing is wrong! I just took a little holiday given well you know the financial world being on the brink of melting down ha.

I guess ill give you folks a bit of notice next time.

I am testing the waters now to see if techs are back in play...looking for a short entry.

I hope everyone is enjoying their shorts!

Hi Putto, good to see that you are back. I took a short for 168 pips. Bears are in full control. What do you think about GJ?

Hi Titan

I still have a 1hr QQE/DMI short trade open since 193.50. Since daily crossed down in the process of this trade I am riding this one through until at least it tests previous 16 Sep lows of 184.52. It may break through this time...will have to wait and see.

A giant fundamentals BUT in all of this, is if the bailout suddenly gets back on the table and is passed. This SHOULD change the broad dollar selling to a bid and could see a mid term reversal (price being driven predominantly by UJ at the moment) from the current risk aversion.

As long as the bailout looks like it wont happen we should trickle down. So keep an eye on those crazy folks governing the USA. We should see some news in this regard during the next NY session. Protect your profits!

Here comes the test!

Added another short position on most recent 1hr DMI/QQE cross at 188.70

hi putto, are you holding to your short to test previous 16 Sep lows of 184.52? I am on the sidelines now, watching and waiting for an opportunity to short again. I have been busy and i didn't take any trade today. What happened to your daily post/trade and analysis?

Closed all shorts at 184.10 for a nice profit (almost 1000 on one but oh well)!

Reentry short at 184.70

T/P 182.80

S/L 186.20

Hi Titan,

If you would like me to continue the actual live trade posting I will; I will make time for it.

But just to reemphasize...noone should be taking these as calls or following these blindly.

Hi Putto,

I would appreciate it very much if you would continue the live trade posting. It's a huge help in double checking my view of the direction of this pair and the use of indicators in determining the direction.
BTW, I wish I would have followed most of your trades, but never did. Try to find my own understanding of this pair.