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Jay's "Love your portfolio™" Journal

  • #1
  • First Post: Sep 26, 2012 12:29pm Sep 26, 2012 12:29pm
This will not be updated very often.

It's true that I'm a lazy f@#k. But that's not why it won't be updated often.

It's because I usually trade larger time frames. It means less trades, it means more time between trades and it also means that things look dead.

Yeah, I've been here for a few years but I'm hoping that keeping a journal will hold me accountable and also answer questions about my trading style. Who knows? Maybe I'll have a very public crash.

So to start, I'll post my latest trade which was a September 25th short entry on CADJPY using the daily time frame at 79.35.
Not all sins are created equal
  • #2
  • Sep 26, 2012 7:26pm Sep 26, 2012 7:26pm
And here is a chart with my entry point on CADJPY.

Attached Image


Chikou span, represented by the cyan line went through the levels indicated by Tenkan-Sen (Blue) and Kijun-Sen (Red).

Technically speaking, it's an early play and should have gotten on the action a bit later to be on the conservative side.
Not all sins are created equal
  • #3
  • Sep 26, 2012 9:57pm Sep 26, 2012 9:57pm
Great idea!
I am just starting to switch from a quite short bi-TF (m5-m30) to the daily-weekly tandem and am certain that I will learn a lot from your thread, even if only patience ... which I find is the harder part for me. (Now what to do with all that free time, LOL.)

Do you only use the Ichimoku?
Looking forward for your insights and developments.
Much success to you!
  • #4
  • Sep 26, 2012 10:03pm Sep 26, 2012 10:03pm
Quoting doblece
Great idea!
I am just starting to switch from a quite short bi-TF (m5-m30) to the daily-weekly tandem and am certain that I will learn a lot from your thread, even if only patience ... which I find is the harder part for me. (Now what to do with all that free time, LOL.)

Do you only use the Ichimoku?
Looking forward for your insights and developments.
Much success to you!
Thank you Doblece.

As you know, I have experimented with a few different methods and Ichimoku is the one that worked best for me.

Like anyone else, I'd rather have the instant gratification of a shorter time frame. But for some reason, that doesn't work as well for me. If patience is the price of profit, then so be it.
Not all sins are created equal
  • #5
  • Sep 27, 2012 2:47am Sep 27, 2012 2:47am
I had never really delved into the understanding of Ichimoku until now (6 years ago it seemed to me way too complicated although very beautiful to look at). Thank you for bringing up the opportunity of finally bringing this pending matter to completion

I have been watching several videos on Ichimoku at YT, and I hope you don't mind that I post here this one I just found, which brings an interesting (and overly simplified) version to use the indicator.

Inserted Video


Although I personally think that it ends up not being an Ichimoku any more and loses a bit of its "magic" ... but simpler should be better, or is there a catch?

What are your views on the above?
  • #6
  • Sep 27, 2012 7:58pm Sep 27, 2012 7:58pm
Quoting doblece
I had never really delved into the understanding of Ichimoku until now (6 years ago it seemed to me way too complicated although very beautiful to look at). Thank you for bringing up the opportunity of finally bringing this pending matter to completion

I have been watching several videos on Ichimoku at YT, and I hope you don't mind that I post here this one I just found, which brings an interesting (and overly simplified) version to use the indicator.

http://www.youtube.com/watch?v=tEeXmsonRZo

Although I personally think...
Overall, not a bad video. Thank you for sharing it.

KISS should stand for Keep It Simple & Successful

He is oversimplifying the living daylights out of it. It does lose a bit of it's touch but it may be for the better. I really like his exit strategy.
Not all sins are created equal
  • #7
  • Sep 30, 2012 6:22pm Sep 30, 2012 6:22pm
M15 chart showed a nailbiter a few hours ago didn't it?

That's the beauty of a daily chart. It's a little like the difference between flying a Cessna, where all the little side winds can mess you up, and a Boeing 777 where you're flying above the weather. Turbulence still happens. But it's easier to handle.

Still in the trade
Not all sins are created equal
  • #8
  • Sep 30, 2012 9:15pm Sep 30, 2012 9:15pm
Quoting Jay Walker
M15 chart showed a nailbiter a few hours ago didn't it?

That's the beauty of a daily chart. It's a little like the difference between flying a Cessna, where all the little side winds can mess you up, and a Boeing 777 where you're flying above the weather. Turbulence still happens. But it's easier to handle.

Still in the trade
Agreed! (and just discovering it)
The AHA moment comes when one understands that the exact same behavior occurs in each and every time frame, and dares to quit trying to control the four corners of a small room, to embrace the pace of a bigger universe (well that would be monthly/yearly in fact ... so let's say a bigger apartment! )

Do you only trade 1 pair at a time?
  • #9
  • Sep 30, 2012 9:23pm Sep 30, 2012 9:23pm
Quoting doblece
Agreed! (and just discovering it)
The AHA moment comes when one understands that the exact same behavior occurs in each and every time frame, and dares to quit trying to control the four corners of a small room, to embrace the pace of a bigger universe (well that would be monthly/yearly in fact ... so let's say a bigger apartment! )

Do you only trade 1 pair at a time?
The same behaviour occurs. But smaller time frames are more prone to rapid movements which I don't like.

I trade more than one pair at a time. I entered a long on EURUSD in August based upon the daily time frame. I got out of it today but have not recorded that entry since it was long before I started this journal.
Not all sins are created equal
  • #10
  • Oct 1, 2012 6:40am Oct 1, 2012 6:40am
Quoting Jay Walker
The same behaviour occurs. But smaller time frames are more prone to rapid movements which I don't like.

I trade more than one pair at a time. I entered a long on EURUSD in August based upon the daily time frame. I got out of it today but have not recorded that entry since it was long before I started this journal.
Thank you!
  • #11
  • Edited 12:10pm Oct 1, 2012 9:32am | Edited 12:10pm
Ichimofo playing a trick on me? Maybe. As I said earlier;

Quote
Technically speaking, it's an early play and should have gotten on the action a bit later to be on the conservative side.

Today's move is a BJ sponsored by the BOJ.

Looks like the effect of the intervention was short lived.
Not all sins are created equal
  • #12
  • Oct 1, 2012 3:45pm Oct 1, 2012 3:45pm
Nice idea, Jay Walker!
I wish you green pips and a lovely trading time!
FXcube
  • #13
  • Oct 1, 2012 3:52pm Oct 1, 2012 3:52pm
Quoting Forexcube
Nice idea, Jay Walker!
I wish you green pips and a lovely trading time!
FXcube
Thank you Mr. Cube Much appreciated.
Not all sins are created equal
  • #14
  • Oct 1, 2012 11:45pm Oct 1, 2012 11:45pm
Nail biting time!
Not all sins are created equal
  • #15
  • Oct 2, 2012 3:16am Oct 2, 2012 3:16am
How far is your stop?
Weekly is still below the cloud ...
  • #16
  • Oct 2, 2012 8:38am Oct 2, 2012 8:38am
Quoting doblece
How far is your stop?
Weekly is still below the cloud ...
My stop is based on a confirmed reversal.

Weekly is still below. Has been for several months. That's why I'm still riding that pony.
Not all sins are created equal
  • #17
  • Oct 2, 2012 9:52am Oct 2, 2012 9:52am
Quoting Jay Walker
My stop is based on a confirmed reversal.

Weekly is still below. Has been for a couple of years. That's why I'm still riding that pony.
Edited for accuracy
Not all sins are created equal
  • #18
  • Oct 2, 2012 10:11am Oct 2, 2012 10:11am
I guess I can stop chewing my nails now.

Back to break-even point.
Not all sins are created equal
  • #19
  • Oct 2, 2012 6:47pm Oct 2, 2012 6:47pm
Chewing nail mode back on.

Looking for a breakdown at about the 79.11 - 79.08 level.

Attached Image


I believe it'll come but is slow coming.
Not all sins are created equal
  • #20
  • Oct 2, 2012 11:54pm Oct 2, 2012 11:54pm
AUDCAD short from 1.0054.

Attached Image
Not all sins are created equal
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