I will either make it in Forex, or die trying | Page 6 | Forex Factory

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I will either make it in Forex, or die trying

  • #101
  • Dec 12, 2013 8:49am Dec 12, 2013 8:49am
Mission #27 Ends

+67 pip profit.

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Do or die.
  • #102
  • Dec 12, 2013 9:45am Dec 12, 2013 9:45am
Mission #30 Ends

+30 pips

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Do or die.
  • #103
  • Dec 12, 2013 11:05am Dec 12, 2013 11:05am
Mission #29 Begins

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Do or die.
  • #104
  • Dec 12, 2013 1:27pm Dec 12, 2013 1:27pm
Mission #29 Ends

Usd is strengthening across the board and chf is looking weak.

I have decided to abort the mission and got out with no casualties.

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Do or die.
  • #105
  • Dec 19, 2013 3:19am Dec 19, 2013 3:19am
Missions #30, #31, #32 Begin

The Fed has decided to taper $10bn in January, and so far the market reaction to this is a strengthening usd.

Following the trend of a strengthening chf (also a risk-averse currency), 3 new missions have been initiated.

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Do or die.
  • #106
  • Dec 19, 2013 7:15am Dec 19, 2013 7:15am
Mission #33 Begins

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Do or die.
  • #107
  • Dec 19, 2013 1:46pm Dec 19, 2013 1:46pm
Mission #33 Ends

A combination of a strengthening cad and weakening chf has caused Mission #33 to end in tragedy. -53 pips.

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  • #108
  • Dec 19, 2013 5:49pm Dec 19, 2013 5:49pm
Missions #30, #31 Aborted

The chf continues to weaken strongly across the board, and I have aborted Missions #30 and #31 to save as many soldiers (pips) as I can.

The tide is turning and I don't want to wait until my stop loss is hit before getting out.

Lost -34 pips and -33 pips respectively.

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Do or die.
  • #109
  • Dec 20, 2013 7:47am Dec 20, 2013 7:47am
Mission #32 Ends

The chfjpy is not moving anywhere so I have simply closed the trade for a +21 pip profit.

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  • #110
  • Dec 26, 2013 5:16am Dec 26, 2013 5:16am
Mission #34 Begins

Fundamentally, I believe the trend for the eurgbp is down.

But because I am extra wary of the gbp crosses, I have entered with a smaller lot size for this mission.

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  • #111
  • Dec 26, 2013 5:44am Dec 26, 2013 5:44am
Quoting Pip Commando
Mission #34 Begins Fundamentally, I believe the trend for the eurgbp is down. But because I am extra wary of the gbp crosses, I have entered with a smaller lot size for this mission. {image}
what are your reasons for believing that the trend for eur/gbp is down on a fundamental basis?
  • #112
  • Dec 26, 2013 11:27pm Dec 26, 2013 11:27pm
Quoting Custos
{quote} what are your reasons for believing that the trend for eur/gbp is down on a fundamental basis?
According to the economic indicators, the British economy is doing slightly better than the Eurozone economy. Also, there has been a flurry of media coverage over how well the country is doing.

Another thing to consider is that when looking at the price trends of the gbp and eur pairs, you can see that the gbp is showing a stronger bullish signs. This said, the gbp is now showing signs of a slowdown and we may see a correction soon.
Do or die.
  • #113
  • Dec 26, 2013 11:30pm Dec 26, 2013 11:30pm
Mission #34 Ends

The eurgbp made a dip initially, but rebounded overnight, knocking the trade out at breakeven.

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  • #114
  • Dec 27, 2013 12:46am Dec 27, 2013 12:46am
Quoting Pip Commando
{quote} According to the economic indicators, the British economy is doing slightly better than the Eurozone economy. Also, there has been a flurry of media coverage over how well the country is doing. Another thing to consider is that when looking at the price trends of the gbp and eur pairs, you can see that the gbp is showing a stronger bullish signs. This said, the gbp is now showing signs of a slowdown and we may see a correction soon.
Can't really see that. And not sure if other people in the market have a particular bias when it comes to eur/gbp. There are much better opportunities in the market.
And from what I saw in your last posts, you are not very successful with your approach. I believe it is due to the fact that you are taking way too many trades. You are not waiting for the golden opportunities, when fundamentals and technicals line up.
Imagine you would have held any jpy cross since november with a big position. Talks of monetary easing in japan have catapulted the jpy down and now the taper in the US will make jpy again the currency of choice for funding making it go down further on expectations that after the taper the US will hike rates again. And it's not even hard to spot out such an opportunity. It's all over the newspapers since weeks, it's just a matter of identifying news that won't go away too soon and will take its time to become fully priced in into the markets.
  • #115
  • Jan 2, 2014 5:33am Jan 2, 2014 5:33am
Quoting Custos
{quote} Can't really see that. And not sure if other people in the market have a particular bias when it comes to eur/gbp. There are much better opportunities in the market. And from what I saw in your last posts, you are not very successful with your approach. I believe it is due to the fact that you are taking way too many trades. You are not waiting for the golden opportunities, when fundamentals and technicals line up. Imagine you would have held any jpy cross since november with a big position. Talks of monetary easing in japan have catapulted...
Thanks for the pointers. I appreciate your suggestions.

My approach is not to focus solely on fundamentals (although that is a big part of it), as I have been burned before in the past when the price diverged from the fundamentals.

So now, I look at both technicals and fundamentals to make my trading decisions.

Jpy is in a strong trend now, but I did not hop on as there was no suitable pullback for me to do so. I will continue monitoring the jpy pairs for now.

After reviewing my results so far, the conclusion I've reached is that although my win-rate is positive, my 3-entry approach is dragging down the net profits. So I've modified it now to only take one entry instead.

Thanks again for the input.
Do or die.
  • #116
  • Jan 2, 2014 5:34am Jan 2, 2014 5:34am
Mission #35 Begins

First mission of the new year.

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  • #117
  • Jan 2, 2014 8:26am Jan 2, 2014 8:26am
Mission #35 Ends

The trend suddenly breaks and the eur weakens across the board, knocking Mission #35 out for a loss. -85 pips.

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Do or die.
  • #118
  • Jan 6, 2014 1:02am Jan 6, 2014 1:02am
Mission #36 Begins


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  • #119
  • Jan 6, 2014 10:26pm Jan 6, 2014 10:26pm
Mission #36 Ends

The nzdjpy is failing to make a higher high, and I have closed the trade for small profit. +14 pips.

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Do or die.
  • #120
  • Jan 9, 2014 11:44am Jan 9, 2014 11:44am
Mission #37 Begins

The nzdjpy continues to rally, and this mission continues where the previous one left off.

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Do or die.
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