Nikims trades

Well i have been testing a trend theory of mine, and now i think its time for me to post a journal. I welcome one and all to make comments(good or bad), i will take all criticism as constructive. I am still learning and adapting to the trading lifestyle.


To assist me in my trading decisions i use a 5 sma and a 13sma. The cross of the 5 over the 13 indicates a buy and the cross of the 13 over the 5 indicates a sell. However most of my decisions are done utilizing another indicator which i am not ready to release to the public. If it goes well i will share it, if not then back to the drawing board.

I make trade descisions based on the close of each 4hr bar. I trade a variety of currencies. Almost all of my currencies have a channel drawn in them as this helps me to identify TP and SL areas. I also use pivot points to help identify probably bounce ares or even SL and TP areas.

Usually when i enter a trade i enter with 2 lots, or in my case 2 mini lots. One is USUALLy set to a PP line and the other is most naturally a runner.

Thats all i have for now. its almsot time to close the US market so i will see if i will post any trades today.

Please note thate the trades that i post from here on are for my personal use and should not be used as trade advice.

My first trade is
USDCAD..long @ 1.1565. SL at 1.1520(5 pips below S1). TP1 at 1.1583

Hey, best of luck with your journal

Kind Regards
Steve

thanks steve.

best of luck with your trades as well

2 new trades
CADJPY- long
ENTRY- 102.64
TP- we will keep this open for now. As i am in only 1 lot
SL- 101.75


USDCHF- long
ENTRY- 1.2180
TP- set to 1.2230 only in 1 lot
SL - 1.2115

Trade udates
Tradde #1 -open
USDCAD closed 1 lot at 1.1585. for 20 pips.
Set trail stop of 25pips on second lot.

Trade #2. -open
CADJPY long. No change.


Trade #3. -closed
USDCHF
Only had one lot in. Tp target met at 1.2230. for 50pips
Ouch I wish I had a runner.

Trade #4
EURUSD- short
Entry- 1.3329
SL- 1.3372
TP1- 1.3305

EURUSD- closed
SL hit. for a loss of 100pips.

USDCAd- closed
TS hit for 8pips


CADJPY- open
no change

well i tried to ride the dollar down, but it bit me in the ass. no i wil buy on dips. Until there is a rise in interest rates there is no hope for the USD

Only open trade is CADJPY and i have increased my SL to 103.64/ which guarantees me 100pips to make up for that EURUSD loss

CADJPY trade closed at 103.64 for 100 pips


Total trades for the week: 4
Total net pips for this week : 78

USDCAD long @ 1.1528
SL@ 1.1474
TP is yet to be defined.

On the table i am looking at shorting GBPJPY, but first i have to wait for the chart to line up properly. The 38.2 fibo level is hard to penetrade. And with the JPY interest statement coming out..........that wont assit in our short position. So we might have to wait a little longer.

Trade #5 USDCAD SL hit.

Going to fine tune some entry and exit strategies and start trading on monday April 16,2006.

There is nothing wrong with the system, but I jsut need to update a few entry and exit signals

I wish you luck....oh well....success with your strategy

Keep it up

Thank you tradeigel for the kind words.


Now I am one week late on my projected time to resume trading, but you can never rush this. So now i am ready to resume trading with update stops and currencies to trade.

As mentioned earlier, every 4hr candle tells me to buy sell or stay out. So every 4 hours, i have a decision to make.

On the table, I am waiting to short a jpy pair. Things are setting up nicely across the board, so all i need to do now is wait for the proper signal to come out

AUDJPY short from 98.84
SL @98.61
TP @ yet to be determined

GBPCHF buy at 2.4145
SL 2.4078
TP 2.4206

WEll that GBPCHF turned around on me and hit me out.

But I am now in on USDCHF buy from 1.2080 with SL at 1.2050 and TP at 1.2120

EURUSD sell @ 1.3600
SL at 1.3550

TP not defined.

BUY CHFJPY @ 99.04. Sl at 98.60

I was thinking of buying USDCAD, but i will late a lil bit more to see if there is any retracement. Basically the GDP out for the USD will either hinder or aid the performance of the USD. Many traders are ready to see the NZDUSD fall and the USDCAD rise again.

EURUSD and USDCHF got hit out for a loss. VEry sad morning for me.

I am currecnlty in a buy USDCAD from 1.1163, SL just below the low of 1.1119.