Akuma99 Not So Squeezy Journal

TRADE TYPE: RANGING

May 17 | LONG | EUR/JPY @ 140.80 | SL: 140.47 | TP: 141.14

http://img452.imageshack.us/img452/6623/trade231sx.gif

Hi all to a new trading day, the yen crosses have been ranging for a day or two now, forming some typical consolidation patterns. Both the EURJPY and the GBPJPY broke their triangle patterns early asia, but we have seen no follow through, this could just because it is asia, or it could be forming a busted triangle pattern, which would see a strong reversal.

It is this I am banking on after the lack of follow through, and the pivot support holding. I will be long for the pivot line at least, with a stop below the recent two long bottomed candles. A low risk trade in terms of capital as I can keep my stop nice and close.

Hi Akuma, if it is not too much of a trouble for you, can you please give a run down on how to use your system....

Ok time to catch up on all the trades:

http://img386.imageshack.us/img386/1544/trade20b3gf.gif

Here is how the GBP/JPY trade turned out from Monday, I traded it on the premise I was looking for an upside break of a triangle formation, but as it turned out I think it actually was a descending wedge formation. This one turned out to be a nice winner, but little satisfaction taken from it. I got lucky this time.

TRADE RESULT: +101

http://img386.imageshack.us/img386/8186/trade23b8br.gif

Close, but no cigar, well and truly stopped out before things turned around. Can't complain, especially considering I got lucky on my other trade.

TRADE RESULT: -33

TRADE TYPE: RETRACEMENT

May 18 | SHORT | NZD/USD @ 0.6222 | SL: 0.6249 | TP: 0.6154

http://img386.imageshack.us/img386/7559/trade246pj.gif

What will probably be my only naked trade today as it is my 30th Birthday today and I will be offline most of the day (watching The Davince Code). This one is a confluence trade, where several things group together to provide some resistance or support. In this case we have the 100.0 extension, the daily pivot as well as the 38.2 retracement. Good enough to me. Also lets me sit my stop nice and close behind this area.

Happy trading!

Hi forextaurus, a general rundown is on the first post of this journal, but I have been asked via PM quite a few times to do a manual so I think I may just do that over the weekend. So look for something early in the week.

Hey that's cool!! Thanks for considering Akuma!
Man, it's raining blessings!

Just a question though. Sorry if this has been answered before, but have you done the squeeze on higher time frames like the 4Hr for example? I'm okay going down to the 1Hr but it's just too quick for my schedule right now..

Thanks and regards,
East

Hi eastmaels, I have traded the squeeze up to the 4H, in fact if anything it is slightly more reliable on the 4H charts. I haven't traded it off the daily's, but there is no reason it would not work on those either.

That's good to hear. Thanks.

East

omg happy birthday Akuma! Today's my birthday too, 28th aniversary!


-soso

Darn you're right.. My brain didn't process that one. Happy Birthday Akuma!

Happy birthday Akuma

Eagerly awaiting the weekend, to download your precious manual . In the mean time working on all your trades

happy birthday Akuma

Hello everybody...

joining the best wishes for your birthday Akuma, with mine at the moment no.1 wish: to see your Manual.
Please survive that birthday party and take sth for hangover and sit in front of monitor on monday...he,he,he

best wishes...

Just want to say: HAPPY BIRTHDAY TO YOU~
I would like to see your Manual on trading too

Thanks all for the birthday wishes! ... I had a great day, and thanks to the fact I don't drink, not a hangover to be found. Now I turn my attention to the manual, I will start it this weekend, but like most things, you just don't know how long something will take until you start it

Ok on to the one and only trade yesterday:

http://img357.imageshack.us/img357/5370/trade24b0zm.gif

Bummer, didn't turn out as hoped. The confluence area I spoke of when placing the trade did provide some resistance, but what stomped all over in the end. Didn't read that on right.

Now to compare, here is the same chart with the CCI/Squeeze method template overlayed, can you see a better entry?

http://img357.imageshack.us/img357/7666/trade24c4et.gif

TRADE RESULT: -27

If I could give my two cents, I always think that by entering at the bands or by switching to a lower timeframe I manage to find a better entry. If the trade is not working out, at least my losses are smaller. Of course, by entering using lower timeframes, you will not have much confirmation, like bar taking out the previous bar low/high, but this kind of entry suits me well.
Again, thanks Akuma for a great thread.

TRADE TYPE: COUNTER TREND

May 19 | SHORT | GBP/JPY @ 209.47 | SL: 210.27 | TP: 207.64

http://img124.imageshack.us/img124/511/trade252fc.gif

Well not much time to trade today, but did squeeze (scuse the pun) this in 5 minutes ago, short on the GBPJPY. Above is why I trade it, if you look the turn last hour marks a triple top (if it continues), so I expect a decent drop going into next week. Traded in a blue zone, stop above the triple top area, looking for at least the S2 pivot.

Back to my CCI method next week.

Happy Trading!

Thanks freebies, your post is exactly why I started the journal in the first place, to get ideas to improve the system for everyone. The bands certainly form an important entry technique in my system, I don't tend to drop down timeframes too much these days, but something worth looking into again

Hi Akuma,
I just spent the weekend going over your thread.....wow.
Your journal is a perfect example of an orderly system and an orderly mind.
Your charts and notations are by there concise descriptions a fast track learning system.
I had read about the bollinger squeeze and had used it in conjunction with the RSI to help me find approriate entries with the knife system. The knife and VWB are contrarian systems and with the recent trending markets have struggled to perform.
I have looked at a number of trending strategies but yours has a simplicity through it's visual aspects that make the decision making process much simpler.
I have always been told that too many indicators can distract you from price( the most important action of all) and confuse your trading. But I have always felt that the more confirmations for an entry the better. Your indicator selections cover the most important aspect of price movement. They are all relevant and purposeful not supurfulous add ons.

The knife and VWB excited and inspired me and equally so your system. I believe your sytem will give me the opportunity to trade all market conditions with a far greater degree of success.

Your thread has been an incredible learning opportunity thank you for sharing it with us.
I live in Melbourne, if you get down this way give me a call, I definetley owe you lunch and dinner.