Time to get serious!

Win on EUR/CAD
Since I've started to manage my trades differently my profits were as follow:

1/2: +62
1/2: +40

Nice pinbar of W level and BRN with divergence. Great setup. I guess this is what the seniors call A+. Unfortunatly I dont have yet the patience to wait only for such setups.

Anyway, my order got triggered, moved up and I took half of the table at thursday close below 1.31 FTA.
Friday broke through it and I've moved my SL below the low of the previous candle.

Unfortunately price gaped down over the weekend and eventualy took out my SL. Without that gap my TP would have been triggered today.

Still, one of the better trades I've made.

Loss on GBP/USD for -50pips

Important swap level got reached in the 1.61 area. I was waiting for a PA confimation and got a hanging man. Admitedly it was not really a proper one, as it closed below the high of the previous candle...

Loss on AUD/NZD for -60 pips

This trade is the product of me expecting (wishing?) for the price to continue back down to 1.25 as it did not get reached.

The reason for taking this trade I have found in the fact that price was stalling in the midpoint of the range. This level rejected the price allready 2-3 times in he past. Add to that RN 1.27, the fact, that the 38.2 and 50 fib retracement of the moves down lined up pretty well + a (small) pinbar and... here we go.

Price acctualy did move down some 50 pips, where I would have taken partial profit, but I was sleeping at that time and when I got back it pulled back allready quite far.

GBP/CHF
1/2: +60 pips
1/2: -34 pips

Nice, upper range level. Went short after 2 day pinbar. Price went lower very fast, so I took profit at 60 pips plus and moved my SL a bit down.
I did not know how to interpret the pinbar which formed after the move down.
May have consumed the remaining buying power before a substainal downmove.
Or just a retracement before continuation up.

The 2nd month of trading based on the J16 methos is over.
It was a positive one, not only cause the endresult was positive, but primarly because of the things I've learned.

There were still a few bad trades, but not anymore the obvious "horror trades" from last month. I've also overtraded a bit, but I've managed to cut my loses pretty well.

Next month I'll continue to use a 50:50 TP strategy and make sure I'll pick my trades more carefully.

Trades taken: 26

Winning trades: 11
Losing trades: 15

Biggest win: +228 pips
Biggest loss: -106 pips

Average win: 101 pips
Average loss: 63 pips

Account growth: 178 pips

AUD/CAD win

1/2: +53
2/2: BE+2

Entered after the doji on weekly level. I was expecting a "morning star" in the making and so it happened in the end. There was also divergence.

Took half at FTA and moved my SL to BE. I was unsure whether to take the rest at 1.030 TA or to move my SL manually every day and see where it will go.
In the end I've decided for the 2nd (greedy) option.
Unfortunateily I did not move my SL up yesterday, cause I went to a party and... well, you can imagine the rest. Because of that I lost those 23 pips.

Well done. A strong average return, with few extremes - every trader's dream. Keep kickin' ass.

Tnx buddy.

I have linked my account to myfxbook now, since I've changed brokers and have unlimited demo now.
Next month more exact stats; hopefully green ones

EUR/JPY loss

Taken after nside bar, from the weekly level above BRN which held in the past.
I like this kind of setups, but maybe there was no more demand left, as this level got reacted allready 3 times in the past.

NZD/JPY loss

Pinbar, of weekly level, VBRN and divergence.
I just had to take, even though I saw quite heavy traffic above it.
Guess this was a legitimate trade, if you watch it closely but it didnt go my way, at least not far enough.

Not a good start into the month.

I took 3 trades this day:
NZD/JPY long
EUR/JPY long
USD/CHF long

1st mistake: Taking 2 trade based on the same idea and thereby doubling my risk.
N/J and E/J is the same setup, I should not have taken both.
But its good they went against me, I will surely remember this.

2nd mistake: USD/CHF and EUR/JPY are quite strongly negatively correlated. By taking both trades long I am working against myself.


So in the end, I should have never taken all of this 3 trades, either E/Y or N/Y should have been cancled.

EUR/CAD loss

Took the long above a pretty big pin bar, plus VBRN, weekly level and divergence.
I, however, decided to set my SL just at 50 pips. It got triggered and after that the trade went my way.

Frustrating. Why I took only 50 pips SL I dont know. It seemed like a definitive up continuation.

I need to go over my entries this week. It happened a few times, that I've set a pending order very close above the pin, it got trigger and went down. I should leave more space. Also in this trade was such a case.

Frustrating.

Also checked some other pairs yesterday and decided not to take them... they are nicely in plus now, of course.

Frustrating.

Good that I am reading "Trading in the zone"

EUR/GBP loss

I saw divergence and an IB from weekly level and decided to go for it with a relatively small SL.

However, downwards momentum was to strong and objectively, this was a unnecessary trade.

USD/CHF win

Only win this week...

Entry after doji on upsloping trendline. TP1 for 50 pips and when on friday my 2nd TP just didnt got reached I decided to close the trade anyway for +92.

USD/TRY win

My first exotics trade. Was a stressfull one

Took the long after BUOB of weekly level. Then followed 2-3 days of 100 pipish up/down moves and on monday the move up, my SL to BE and decided to trail it.
TP missed by some 15 pips.

Not a big gain but an interesting experience.

GBP/USD loss.

Taken the long of weekly LCS after a BUOB. But it wasnt really a BUOB as the high of the previous candle wasnt engulfed.
I've set an entry above the candle and another at 50% ret.

The 1st entry was to close to where price was at the time I've set them. This happened to me allready a few times, that such an order gets triggered and then it goes in the other direction.
I really need to be more mindfull of that.

SL could/should have been below the candle, but it was more then I was willing to take. So maybe thats another reason for not taking it, or just going for the ret entry...

CAD/JPY break even

Took it after close below 80.00.
It went my way fast, for some 65 pips. I did not take partial profit, cause Im trying some MM stuff out.
Price reversed and hit my moved SL at BE.

Doh...

AUD/NZD loss

Took it after 2 day pinbar, which I also looked at as a continuation of the upmove.
Price broke the strong 1.28 level, retraced towards it, got rejected.

I went in above it and also at 50 fib ret.
The entry above it was a loss, the 50 fib a BE.

Unnecessary trade.

USD/JPY loss

Price broke the weekly LCS & BRN 80.0 and closed below. After that happend a 2 day retest which both failed and formed 2 pinbars.
Next day again price break to the downside. here I've entered below and on a retracemen entry.

Price however never managed to go much further down. I was some 60 pips up on my ret. entry but did not take TP

In the end the ret. entry was BE and the other entry a loss.

EUR/USD win

Went in after the 1.3 area got broken and close below. The day before was a retest of the W LCS.