On My Way To The Top

well about to go to bed and will see how this plays out in a couple hours...long on the usd chf with stop at break even so a free trade...

out at b/e on uchf buy

playing out just like illustration posted yesterday....

For the morning I have decided on staying out of the market as no trend trade entries have appeared to me and so I would be looking for countertrend trades per my strategy for that and I got set ups for those which include the 30,60,240 stochastics lining up with price hitting a support or resistance level like stacked ma's or pivots or whatever but I don't like the situation with the ropes on the 30 minute or 1 hour time frames which show chaos in the market and indicative of chop and so I figure its best for me to just stay out...but its clear price would want to rise on pairs like eu gu au nzu and pairs that move similar to those since the four hour stochastic is heading up and of course price would want to follow but again no clear for sure way in...


pics attached of what I mean...and there was a similar situation on all the majors...

I agree, the market was a bit chaotic today. My only trade for 3%.

Waiting for this one trade today, I realize how very careful I need to be with this trading business. I passed on the first opportunity to buy the eurgbp because the rope was a bit messy. It than gave a second chance to buy with a better rope. Goal met for today.

Pretty good first week just trust what you know to work and everything will all pan out as it should...today would be a perfect example of that with all the heavy news and the market whipsawing all over the place but you made it out with your 4%...congrats...(oh and see what good paying attention to the rope does for you)...filters out fake outs and such..

Paul

so all my entries were based off of the bsb stochastics today...so one sell on the usd cad a buy on the gbp usd both for 4% and the aud usd I'm my stop was about 12 pips and so 3/4 of the position was closed out at around 24 pips for roughly a 3 percent gain and my target for the remaining 1/4th of the position was used to target the trend line indicated on the chart for a 97 pip target giving about 1:8 risk reward...for roughly about 2% if I'm calculating that correctly...

so the total gains for today would be 13%

k-kay it appears I missed that pretty good trending entry on the eur/gbp...(sigh) could have had an extra 4% for myself for the day...but so it goes...let's see how tomorrow goes...its that time again...friday and nfp friday at that...usually makes things pretty interesting...

Also some nice countertrend entries later on in the day per those rules...so to be sure and try and capitalize on most of those I'm about to revise my template to include the alert that should help with picking those up...hopefully it doesn't take up too many resources to apply to each pair's 5 minute chart...and per a discussion with k-kay I do believe I will begin working on a pdf file that outlines in detail everything that I do if anyone noticed with the extra technical trades I took last week aside...I really only have 3 main strategies that I use where one is used to get in on the trend and the other two which often times give similar entries are used for countertrend trades...(countertrend in the sense that the direction usually counters what I look for with the method to get in the trend)...so I will make a pdf with nice and pretty pictures and such to show the rules and how easy it all is...

closed out for about 6%...bottom most window is alert for bsb and window on top of that is alert for countertrend trade

took a short and stopped out for 2% took it as a bsb set up

When taking bsb trades off of the stacked moving averages than I will look for more of a slope so price reacts like its a trend line and bounces off a bit better and just a slight bit of extra confirmation in my eyes as opposed to the moving averages being a bit flat like the usd cad short...

Made it through my first week going live and I think I did pretty good with a return for the week of 14%. I do need to pay attention to details and just take the trades that perfectly match what the strategy describes. I like the usdchf because price was bouncing off the one hour trendline. I wanted to hold for 4% but the 4hr trendline was acting as support so I closed out for 2%.

took a sell on this pair for 8%....stop was about 11 pips and took profits at about 44 pips...

by the way...I manually closed out the short a little past the bottom yellow trend line as that was my target....

well I guess I should have posted this earlier but I was done trading after the nzd usd and ended the trading day with 12% net gains and its Friday as we all know and so the weekend is here...and it has been a pretty pleasant week where I've made a total of 62% this week...which gives me a cushion of 32% for next week since I never know how next week might play out...hmmm and now that the market is closed I'm pretty bored and not sure of what to do with myself...haha...

hi guys!

im going to post my trades every day, im paul's friend and partner and im glad to be here with you guys!

so here is my fisrt trade on the week, it was on nzd usd, good for 1.5% (1% per trade)

Nice work

What risk reward did you start and finish with? Did you let the trade run its course or did you intervine with what you had set?

I am new to this so apologies if you already mentioned this.

Cheers

NJ

Day 10/365

Earnings to date $0.00

Been quite busy working on some things this morning so havent had a chance to post as of yet but will post trades in a little bit...welcome roberto...nice to see you...