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My Asian Breakout trading Journal

  • #1
  • First Post: Edited Jan 9, 2006 10:48am Dec 22, 2005 1:25am | Edited Jan 9, 2006 10:48am
Just a simple breakout method.


Background:
I always look at asia session as a good time to setup breakout trade for
Europe/Asia overlap session and Europe session.

I trade GBP/USD and USD/CHF for better volatility.

From statistics here is the trading range of GBP/USD between 2002 to 2004. Of course this is a rough figure.
Europe/Asia overlap : 43 pips (EST 2am to EST 4 am)
Europe session : 112 pips (EST 2am to - noon)
U.S/Europe overlap session: 78 pips (EST 8am to EST noon)

From statistics here is the trading range of USD/CHF between 2002 to 2004. Of course this is a rough figure.
Europe/Asia overlap : 43 pips (EST 2am to EST 4 am)
Europe session : 117 pips (EST 2am to - noon)
U.S/Europe overlap session: 88 pips (EST 8am to EST noon)

Strategy:

GBP/USD, USD/CHF
Taking High and Low from EST 7pm to EST 4am.
Entry
Long: High + 13 pips
Stop loss: -40 pips (update 23-Dec-05: No trailing stop, but move SL to break even point after +40 pips gain)
Long Exit : High + 120 pips (update 04-Jan-06: increase TP)

All trades are closed at EST 12 noon.

Same rules for short trade.
  • #2
  • Edited 2:16am Dec 22, 2005 1:30am | Edited 2:16am
result for 21-Dec-2005

GBP/USD

Buy stop: 1.7605 , SL: 1.7565, TP:1.7662
Sell stop: 1.7537, SL: 1.7577, TP: 1.7480

Result:
Short triggered 1.7537, TP 1.7480 , P/L:+57
  • #3
  • Dec 22, 2005 1:37am Dec 22, 2005 1:37am
Today's Entry

GBP/USD
Long: 1.7467 SL:1.7427 TP:1.7524
Short:1.7420 SL:1.7460 TP:1.7363

USD/CHF
Long: 1.3159 SL:1.3119 TP:1.3216
Short:1.3112 SL:1.3152 TP:1.3055
  • #4
  • Dec 22, 2005 1:38am Dec 22, 2005 1:38am
Quoting traderswin
Today's Entry

GBP/USD
Short:1.7420 SL:1.7460 TP:1.7363
Short triggered at 1.7420
  • #5
  • Dec 22, 2005 4:33am Dec 22, 2005 4:33am
Quoting traderswin
Short triggered at 1.7420
Take profit triggered @ 1.7363 P/L: +57 pips
  • #6
  • Dec 22, 2005 5:00am Dec 22, 2005 5:00am
Good Results.

I Am Following Your Thread Closely.

Thanks

Highway
  • #7
  • Dec 22, 2005 6:56am Dec 22, 2005 6:56am
Quoting traderswin
Today's Entry

USD/CHF
Long: 1.3159 SL:1.3119 TP:1.3216
Long triggered at 1.3159
  • #8
  • Dec 22, 2005 8:09am Dec 22, 2005 8:09am
Quoting traderswin
Long triggered at 1.3159
Stop loss triggered @ 1.3119 P/L: -40 pips
  • #9
  • Dec 22, 2005 8:46am Dec 22, 2005 8:46am
Quoting traderswin
Today's Entry

USD/CHF
Short:1.3112 SL:1.3152 TP:1.3055
Short triggered @ 1.3112
  • #10
  • Dec 22, 2005 10:59am Dec 22, 2005 10:59am
Quoting traderswin
USD/CHF Short triggered @ 1.3112
Trade closed at EST 12 noon @ 1.3107 P/L: +5 pips
  • #11
  • Dec 22, 2005 11:06am Dec 22, 2005 11:06am
Result for 22-Dec-2005
GBP/USD
Short:1.7420 PT:1.7363 result:+57

USD/CHF
Long: 1.3159 SL:1.3119 result:-40
Short: 1.3112 close:1.3107 result:+5

Result for the day: +22
  • #12
  • Dec 23, 2005 1:08am Dec 23, 2005 1:08am
Today's Entry 23-Dec-2005

GBP/USD
Long:1.7412 SL:1.7372 TP:7469
Short:1.7361 SL:1.7401 TP:7304

USD/CHF
Long:1.3133 SL:1.3093 TP:1.3190
Short:1.3088 SL:1.3128 TP:1.3031
  • #13
  • Dec 23, 2005 9:02am Dec 23, 2005 9:02am
Quoting traderswin
Today's Entry 23-Dec-2005

GBP/USD
Long:1.7412 SL:1.7372 TP:7469
Short:1.7361 SL:1.7401 TP:7304

USD/CHF
Long:1.3133 SL:1.3093 TP:1.3190
Short:1.3088 SL:1.3128 TP:1.3031
GBP/USD Short triggered @1.7361
SL moved to breakeven.

USD/CHF Long triggered @1.3133
  • #14
  • Dec 23, 2005 11:35am Dec 23, 2005 11:35am
Result for 23-Dec-2005
GBP/USD
Short:1.7361 Trade closed at 12 noon EST @ 1.7331 result:+30 pip

USD/CHF
Long: 1.3133 Trade closed at 12 noon EST @ 1.3137 result:+4 pip


Result for the day: +34 pip
  • #15
  • Dec 27, 2005 1:09am Dec 27, 2005 1:09am
Today's Entry 27-Dec-2005

GBP/USD
Long:1.7331 SL:1.7291 TP:1.7388
Short:1.7285 SL:1.7325 TP:1.7228

USD/CHF
Long:1.3165 SL:1.3125 TP:1.3222
Short:1.3117 SL:1.3157 TP:1.3060
  • #16
  • Dec 27, 2005 5:12am Dec 27, 2005 5:12am
Quoting traderswin
Today's Entry 27-Dec-2005

GBP/USD
Long:1.7331 SL:1.7291 TP:1.7388

USD/CHF
Short:1.3117 SL:1.3157 TP:1.3060
Long GBP/USD triggered @ 1.7331
SL moved to break even

Short USD/CHF triggered @ 1.3117
  • #17
  • Edited 8:07am Dec 27, 2005 6:02am | Edited 8:07am
Hello Traderswin,

I entered long at 1.7312 at th 20 and 50 MA crossing the price; plus i-trend indicator crossing. I chicken out at 1.7382
as my stoch, StepRsi and 5-34-5 indicator shows a crossing to move down. I though it was only 6 pips away, I closed the trade.
Firstly, I want to thank you because I had double confidence when your position 1.7331 was triggered. It helped me knowing I was in the right direction and I added long 2 more lots.
Secondly, do you always stick to your target even if it is only a few pips from it. If yes, what is the advantage point in doing that.?

Thanks again for posting here in FF

Regards

P.S I do not trade USD/CHF since the last 6 months
  • #18
  • Edited 6:53pm Dec 27, 2005 7:57am | Edited 6:53pm
Quoting highway3000
Hello Traderswin,

I entered long at 1.7312 at th 20 and 50 MA crossing the price; plus i-trend indicator crossing. I chicken out at 1.7882
as my stoch, StepRsi and 5-34-5 indicator shows a crossing to move down. I though it was only 6 pips away, I closed the trade.
Firstly, I want to thank you because I had double confidence when your position 1.7331 was triggered. It helped me knowing I was in the right direction and I added long 2 more lots.
Secondly, do you always stick to your target even if it is only a few pips from it. If yes, what is the advantage point in doing that.?

Thanks again for posting here in FF

Regards

P.S I do not trade USD/CHF since the last 6 months
Hi Highway,
Yes, I always stick to my target even if it is only few pips away. Since I have set in the system rules, I'll follow. This is part of discipline.
In fact, now I am studying if I should extend profit target.

Yup, I do find that USD/CHF's current performance is not desirable. I still stick to it until I have finished my evaluation.
  • #19
  • Edited Dec 28, 2005 11:08am Dec 27, 2005 6:56pm | Edited Dec 28, 2005 11:08am
Quoting traderswin
Long GBP/USD triggered @ 1.7331
SL moved to break even

Short USD/CHF triggered @ 1.3117
Result for 27-Dec-2005
GBP/USD
Long:1.7331 SL was triggered @ 1.7331 result:0 pip

USD/CHF
Short: 1.3117 Trade closed at 12 noon EST @ 1.3143 result:-26 pip


Result for the day: -26 pip
  • #20
  • Dec 28, 2005 1:20am Dec 28, 2005 1:20am
Today's Entry 28-Dec-2005

GBP/USD
Long:1.7340 SL:1.7300 TP:1.7397
Short:1.7265 SL:1.7305 TP:1.7208

USD/CHF
Long:1.3174 SL:1.3134 TP:1.3231
Short:1.3109 SL:1.3149 TP:1.3052
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