I may have missed something. Why did you move GJ stop loss to +200 since it was only +234. I thought according to your system it got moved to +200 if the daily low indicated such or it got up to +300 during the day at that point you moved the stoploss to +200.
I appreciate the clarification...
Thanks buddy,
Jackie
That definitely clarifies things.
:Came across this journal and looks wonderful. Is this system based purely on all the candlestick reveral patterns ? I couldnt find the description of your system. could someone please post a link ?
thanks
Ramesh
Hi Jackie,
It had passed 234.64 - my initial position is 231.64 hence +300. Now looking to break 235
Even UJ is playing ball today and got above 118.50 for the first time in weeks
Hope that clarifies.
Kind Regards
Steve
since GJ is all the rage right now, i thought i would have a look at where you got in (see arrow)...it is in an up channel - interesting to see how it responds to the top edge tomorrow.
how is your testing going in your week off? managed to dodge the shopping chores yet?
btw, right now just pipped over 235!
How long are you planning to stay in U/J? Any chance it falls back down to 118? System looks great!
I stay in my trades until my stop losses are hit, which I move at the end of each day or if a trade is up by 100 pips or multiples thereof (on GU, UJ, GJ) & 70 pips on AU & NU.
UJ has struggled to get past 118.50 for over 2 weeks since the drop from 121.64 on 23rd February. I'm looking for a close above 118.50, even better above 118.90 to move on from there.
The last few days the carry trade has piled in and the yen has fallen across the board. Long may it continue (although it never does).
Kind Regards
Steve
Do you think it'll go back to 118 anytime soon? Got in on the WAY wrong end of that one. Should I cut my losses? No quotes just recommendations.... Thanks. Going to start following your trades, I'm impressed with your results.
Hi again Big,
It happens to us all - I've been stopped out for over 100 pips on a couple of occasions - it just comes with the territory. You deal with it & move on.
As far as going back to 118 is concerned, it probably will at some point but where is your stop loss? Could you stomach it heading for 120,121,122?
I'm just testing my system for a full year (with a few tweaks here & there) as I'm fairly new to this too. If you are serious about following my trades, please make sure you look at my money management first & then have a look at February where I ended up the month 900 pips down. I also went through 22 consecutive losses.
The other 4 months have been profitable but without the right money management you will have no account to trade the following month.
I don't mind people taking trades as I do but this journal is no recommendation whatsoever and the risk is entirely theirs because it does take balls to trade this way. Ideally, a trader needs to research a method that suits them & them only, make it theirs and then trade it rigidly over a good period of time (+1000 trades) to give it a chance in all types of market. It will also test you to stick with it when things don't go your way.
Sorry if this sounds harsh but as I say to my kids, sometimes you have to be cruel to be kind
Kind Regards
Steve
Hey Stevie,
just popped in to say hello. I see you went along with me on the GJ ride
Bit shocked you changed your pairs, will have to go back and read over the reasoning closely!
Altho at least now you're mixing it up a bit instead of 5x USD gearing =)
So that's cool.
Also very curious about how the 100 pip trail turns out...can sometimes be a bit tight on GJ, haven't really studied that however.
Did you post your percentage for March already? *really needs to look over this thread again*
Curious about your % p.a. when you get to 3 6 9 12 months
Soon I might have to change to StevieT FX-Hedgefunds Inc.
Take care,
SeekingLight
hi Steviet,
Just want to thank you for this awesome journal! Great to have people like you here @FF.
)Monitored your successful and not so successful trades so far and can but admire what must be the steel balls you wear in order to come through the last two months with your system still intact and your mind not in tatters.
Well done!
Just one small question. Why do you not, when the time comes to move your stoploss to BE, set it as a trailing stop a hundred pips behind your current price.
I can't imagine there are too many days where a hundred pip reversal fails to signify a shift in trend.
But then I do not have the honour of having backtested your wonderful method.
quote of the day:
.
It's like deja-vu all over again