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No Indi, No Cry

  • #1
  • First Post: Edited Nov 19, 2013 12:49am Sep 25, 2013 3:34am | Edited Nov 19, 2013 12:49am
Simply using Trendlines, Patterns and Sentiment to determine entries, i am no action trader, so if your looking for high frequency trading you wont find it here. My monthly target is 1 to 5%.

Lets go:

Quote
1. Trade

Eur/Cad Buy 1,3895 Stop 1,3865 Limit 1,3950

Reason: Nice SHS Pattern, Uptrend intact, Sentiment in favour.


Duration: I will give this position about 12h from entry to develop.

Attached Image
consistency wins
  • #2
  • Sep 25, 2013 3:47am Sep 25, 2013 3:47am
So what do we see if we zoom into this trade:

@ Blue Line we have a nice Double Bottom Pattern, creating the right shoulder at the price of 3870. Thats where i placed my stop under.

@ Blue Arrow we have a series of Higher Lows Pattern, creating a high probability breakout scenario. Thats where i entered this position.

and if we take the sentiment into account, at the moment the CAD is on the defense because Oil is dropping on easing middle east tensions. Enough for me to take the risk and pull the trigger.
Attached Image (click to enlarge)
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consistency wins
  • #3
  • Sep 25, 2013 7:00am Sep 25, 2013 7:00am
I like so far what im seeing, but we have some important US Data coming up, so i am going to minimize the risk of this position.

At this point im going to take off 50% of my position with a profit of 38 Pips, also im trailing my stop to B/E, and adjusting the limit for the reamining lots to 1.3995.
Attached Image
consistency wins
  • #4
  • Sep 25, 2013 7:19am Sep 25, 2013 7:19am
Interesting thread title.
  • #5
  • Sep 26, 2013 4:01am Sep 26, 2013 4:01am
The remaining 50% of my Eur/Cad Trade got stopped out at BE.


Quote
2. Trade

Eur/Jpy Buy 133,25 Stop 132,80 Limit 134,60

Reason: SHS Pattern, Uptrend intact, Sentiment acceptable.


I will put up an chart later on.
consistency wins
  • #6
  • Sep 26, 2013 6:19am Sep 26, 2013 6:19am
Quoting iTrader
I will put up an chart later on.
Ok, i saw enough, im letting this Eur/Jpy position go, and im closing at BE.
The critical area at 133.35/20 got clearly broken, and as a conservative trader im no longer eager to hold on to this position.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyclose.JPG Size: 47 KB
consistency wins
  • #7
  • Nov 18, 2013 2:06am Nov 18, 2013 2:06am
Buying Usd/Cad @ 1,0425 / Emer. Stop @ 1,0394 / Target @ not defined yet

We have a nice Support Zone between 1,0425 and 1,0398, Dollar seems a bit weak tough.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad12.JPG Size: 48 KB
consistency wins
  • #8
  • Nov 19, 2013 12:47am Nov 19, 2013 12:47am
Quoting iTrader
Buying Usd/Cad @ 1,0425 / Emer. Stop @ 1,0394 / Target @ not defined yet We have a nice Support Zone between 1,0425 and 1,0398, Dollar seems a bit weak tough. {image}
I just closed this position with a profit of +10 Pips, its taking too long for me, and my pivot target of yesterday changed.
consistency wins
  • #9
  • Nov 19, 2013 1:06am Nov 19, 2013 1:06am
Quoting iTrader
Simply using Trendlines, Patterns and Sentiment to determine entries, i am no action trader, so if your looking for high frequency trading you wont find it here. My monthly target is 1 to 5%.
I aim minimum 5% but go for 10%+ because often trading goes in cycles.When it comes your way you want to grab as much as you can to compensate "drier" days.
By mentally setting lower goal you could be underestimating what could be achieved.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #10
  • Nov 19, 2013 6:14am Nov 19, 2013 6:14am
Quoting Davit
{quote} I aim minimum 5% but go for 10%+ because often trading goes in cycles.When it comes your way you want to grab as much as you can to compensate "drier" days. By mentally setting lower goal you could be underestimating what could be achieved. Regards
Davit,

Thanks for your input, i dont know how big your account is, but i am currently trading from an 100k (my personal money) account, so 1-5% is a very good monthly reward for me personally, at the end of every month i always withdraw my profits. You are absolutley right with not underestimating the own abilities, 1-5% is more like a"guidance", i dont stop trading even if i am at +10% on a monthly basis, because there are great months, and there are the not so great ones, but for me i am happy that i can say with my conservativ way on a monthly basis my worst month ended in a 2% loss in about 2 Years of trading this account, and that really gives me a confidence in "my way of conservative and calm trading", i just wanted to emphasize, that i am not aiming to make 2000% like other journal founders, and i am not trying to teach or impress anybody its just a journal for me, because i want a place where i can write my thoughts about a particular trade down, so i can get back to it later.
consistency wins
  • #11
  • Nov 19, 2013 7:40am Nov 19, 2013 7:40am
I reentered the USD/CAD long position i exited earlier.

Buy @ 1.0430
mental Stop @ 1.0410
emergency Stop @ 1.0390
Limit @ going to be defined as the trade develops.
Attached Image (click to enlarge)
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consistency wins
  • #12
  • Nov 19, 2013 8:25am Nov 19, 2013 8:25am
look at this beauty, its screaming take me!

a reason (Australian Monetary Policy Minutes, not so dovish as expected) combined with a beautiful bullish flag above the recently broken trendline.
all it needs is to be taken with a tight stop under the spike, i would be targeting 9410, unhopefully i was sleeping at this time.
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consistency wins
  • #13
  • Nov 19, 2013 8:55am Nov 19, 2013 8:55am
currently +15 moving stop to BE on this position, but i guess if price makes it, gonna take my profits at +20/25 this pair is very slow moving this days it needs a catalyst for a big move in either way..

Quoting iTrader
I reentered the USD/CAD long position i exited earlier. Buy @ 1.0430 mental Stop @ 1.0410 emergency Stop @ 1.0390 Limit @ going to be defined as the trade develops. {image}
consistency wins
  • #14
  • Nov 19, 2013 9:03am Nov 19, 2013 9:03am
Quoting iTrader
currently +15 moving stop to BE on this position, but i guess if price makes it, gonna take my profits at +20/25 this pair is very slow moving this days it needs a catalyst for a big move in either way.. {quote}

I have a target to short on UC
Regards
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.daily.png Size: 41 KB
In trading, you have to be defensive and aggressive at the same time
  • #15
  • Nov 19, 2013 9:24am Nov 19, 2013 9:24am
this is a great resistance area for a sell! i will be watching the 1.0500/30 area very closely.
Only thing i can say now - i dont like to work against the sentiment, if Usd/Cad approaches 1.0500 and the Dollar is in a very strong sentiment i wont consider a short, if there are no news on the wires, then selling with a stop above 1.0535 is in the cards for me! but currently the movement is very slow it would take lightyears to approach 1.0500 in this pace.

greets

Quoting Davit
{quote} I have a target to short on UC Regards {image}
consistency wins
  • #16
  • Nov 19, 2013 9:35am Nov 19, 2013 9:35am
Quoting iTrader
this is a great resistance area for a sell! i will be watching the 1.0500/30 area very closely. Only thing i can say now - i dont like to work against the sentiment, if Usd/Cad approaches 1.0500 and the Dollar is in a very strong sentiment i wont consider a short, if there are no news on the wires, then selling with a stop above 1.0535 is in the cards for me! but currently the movement is very slow it would take lightyears to approach 1.0500 in this pace. greets {quote}

Nice account size.Mine is small like 5% of yours.Dreaming to get there but working hard improving my trading daily.Sort of obsessed about improvements.
Learned to use limit orders to my advantage by placing where I want and letting the market come to them.This way if I get triggered I get great numbers if not then will place other limit orders.Idea is to restrict common mistakes of early entries.
Here is my plan
Placed limit shorts at UC 1.0500
GA 2x1.72 2x1.7230 1.7250 short
EC 1.44 short
GU 1.62 short
GC 1.69 2x
AN 1.118 long
All these limits have 50-100 pips to reach their triggers but experience tells me to let the market come to me.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #17
  • Nov 19, 2013 10:08am Nov 19, 2013 10:08am
Just closed this position with a profit of +21 pips. Enough for me at this point, i see a technical scenario for a move toward 1.0470/80 but i am missing some kind of catalyst for this move at the moment. So in this case its better to take the profit from the table for me.

Quoting iTrader
I reentered the USD/CAD long position i exited earlier. Buy @ 1.0430 mental Stop @ 1.0410 emergency Stop @ 1.0390 Limit @ going to be defined as the trade develops. {image}
consistency wins
  • #18
  • Nov 19, 2013 10:14am Nov 19, 2013 10:14am
Quoting iTrader
Just closed this position with a profit of +21 pips. Enough for me at this point, i see a technical scenario for a move toward 1.0470/80 but i am missing some kind of catalyst for this move at the moment. So in this case its better to take the profit from the table for me. {quote}
UsdCad Chart.
Attached Image (click to enlarge)
Click to Enlarge Name: Bild 17.png Size: 28 KB
consistency wins
  • #19
  • Nov 19, 2013 10:32am Nov 19, 2013 10:32am
Quoting Davit
{quote} Nice account size.Mine is small like 5% of yours.Dreaming to get there but working hard improving my trading daily.Sort of obsessed about improvements. Learned to use limit orders to my advantage by placing where I want and letting the market come to them.This way if I get triggered I get great numbers if not then will place other limit orders.Idea is to restrict common mistakes of early entries. Here is my plan Placed limit shorts at UC 1.0500 GA 2x1.72 2x1.7230 1.7250 short EC 1.44 short GU 1.62 short GC 1.69 2x AN 1.118 long All these...
I barely use orders, but if i place them, then not much farther away than 30 pips from the current price. Your approach is interesting, because i too, and i guess everybody has the problem of entering too early sometimes, with an order, you already took the decision and wont change it anymore, its a good approach, maybe i will try it if the right setup occurs for me and i feel inpatient in waiting for the price to come to my desired level.

i looked up the levels you mentioned, i particularly like the 1.62 level on GU this is a very important zone and a good area for a sell. EC is a bit far away to judge but after i zoomed out to my weekly chart, i saw that 1.44 is a huge resistance level worth watching. These are "pipmaking" levels all worth watching, and if i can connect this levels with some sentiment/news i will be more agressive with my entries.
consistency wins
  • #20
  • Nov 19, 2013 10:46am Nov 19, 2013 10:46am
Quoting iTrader
Just closed this position with a profit of +21 pips. Enough for me at this point, i see a technical scenario for a move toward 1.0470/80 but i am missing some kind of catalyst for this move at the moment. So in this case its better to take the profit from the table for me. {quote}
Now look at this 20 minutes later, it made the move without an obvious catalyst - could have doubled the pips - thats trading. Oh well you cant always make the right decision, but at some point you have to make a decision and stand to it.
Attached Image (click to enlarge)
Click to Enlarge Name: Bild 19.png Size: 28 KB
consistency wins
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