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Journal/Archive

  • #1
  • First Post: Edited Feb 19, 2014 2:58pm Jan 4, 2014 7:24am | Edited Feb 19, 2014 2:58pm
Welcome to my journal!

Here you will find my performance over the complete year 2014, with most of the trading ideas being explained with charts.

My method of trading is mostly inspired by the James16 chart thread; a place that I've stuck with over the past couple years so as not to get distracted in this vastly confusing world of forex.

If this explorer is a succes (+10%/year) I will create a live account with the same starting balance (100 euro's) and trade it like I traded this Explorer.

Trades will be taken from higher timeframes such as the Monthly/Weekly/Daily, with the odd exception where I enter a setup based on H4 charts.
Indicators I use are RSI (to spot Divergence) and the 365 EMA.
R:R is not fixed, nor is every trade 1:1 or better.
I do however scale risk very tight, which my broker (Oanda) fortunately provides for by offering a minimum trade parcel of 1 unit.
My order sizing / risk management is done 100% mechanically, wherein my recent trading results (looking back 15 trades) determine what the risk/size of my next order will be.

Occasionally I will add notes to trades in the explorer, but most of the info is in the journal itself.



If you like, you are free to post (charts) in this thread, as long as it's on topic.
It's a sport, an artform and a science.
  • #2
  • Feb 6, 2014 9:24pm Feb 6, 2014 9:24pm
Here's the chart for the trade currently opened.
Charts are pretty much self-explanatory, but don't hesitate to ask about them.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpymonthly entry.png Size: 22 KB

Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpymonthly2.png Size: 31 KB


W
It's a sport, an artform and a science.
  • #3
  • Feb 6, 2014 9:51pm Feb 6, 2014 9:51pm
Here's the charts for my recent position in the EUR/AUD.
A very tricky one, which, in retrospect, I shouldn't have been in because of inablity to check on my trade while risk was still a factor.

It was particularly chilling when in the afternoon when I went to check on my trade, the internet connection was gone.
This lasted for another couple of hours.

When I got online again, the trade was processes and so was it's TP.

Attached Image (click to enlarge)
Click to Enlarge Name: euraudh1 journal.png Size: 21 KB
It's a sport, an artform and a science.
  • #4
  • Feb 11, 2014 9:32am Feb 11, 2014 9:32am
Position in CAD/JPY opened.

Attached Image (click to enlarge)
Click to Enlarge Name: cadjpydaily entry.png Size: 25 KB

Attached Image (click to enlarge)
Click to Enlarge Name: cadjpymonthly entry.png Size: 17 KB


Trouble is close, but selling is quite fierce.
The retracement is still going, but This entry is the first daily PA after the monthly setup, so this is what it's going to be.


The NZD/JPY BEOB retracing so high into the setup has me on my toes, but with these monthlies I guess I'll just have to have some more patience.
It's a sport, an artform and a science.
  • #5
  • Feb 11, 2014 4:53pm Feb 11, 2014 4:53pm
Quoting Donaciello
Here's the chart for the trade currently opened. Charts are pretty much self-explanatory, but don't hesitate to ask about them. {image} {image} W
NZD/JPY: Deep retrace back into the setup (83,7%) made me very nervous today as my stop was spared by only 19 pips excl. spread.
The fact that late today a BUO-continuation-Bar was printed, followed by an inside bar.



Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpyh4 update 112.png Size: 26 KB


Quite critical for my trade is now the break (invalidation) of the H4 BUOB and thereby also breaking out of the current wedge.
My Stop loss it still as it was initially set, which now happens to somewhat coincide with the upper bound of the current wedge.

CAD/JPY: Retraced deeper into the setup, as I initially would have liked to see (I entered early).
SL is for now nowhere in sight, chart update will follow later.

W
It's a sport, an artform and a science.
  • #6
  • Edited 7:58am Feb 12, 2014 7:51am | Edited 7:58am
Quoting Donaciello
{quote} NZD/JPY: Deep retrace back into the setup (83,7%) made me very nervous today as my stop was spared by only 19 pips excl. spread. The fact that late today a BUO-continuation-Bar was printed, followed by an inside bar. {image} Quite critical for my trade is now the break (invalidation) of the H4 BUOB and thereby also breaking out of the current wedge. My Stop loss it still as it was initially set, which now happens to somewhat coincide with the upper bound of the current wedge. CAD/JPY: Retraced deeper into the setup, as I initially would...

A breakout higher on the mentioned BUOB (continuation bar), combined with spread has taken out my SL and reversed since that very tick.
Big bummer, but this would not have happened, if I had put the stop loss at the end of the monthly setup as I was supposed to do.
Alternative stops could have been at the end of the monthly BEOB (87.36), or at the end of the bar preceding it (86.67).
Lesson learned I hope, but it doesn't take away the sting of buying top pip...

Chart:

Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpyh4 sl hit.png Size: 27 KB


Moving on,
W
It's a sport, an artform and a science.
  • #7
  • Feb 12, 2014 8:38am Feb 12, 2014 8:38am
Another monthly setup I've had my eyes on.
CT Pinbar on AUD/NZD, got confirmed with a topside break, now I have an order waiting at 1.0740 for when the left shoulder is retested.

Attached Image (click to enlarge)
Click to Enlarge Name: audnzdmonthly order.png Size: 15 KB


w
It's a sport, an artform and a science.
  • #8
  • Edited 8:41am Feb 13, 2014 7:02am | Edited 8:41am
Quoting Donaciello
Another monthly setup I've had my eyes on. CT Pinbar on AUD/NZD, got confirmed with a topside break, now I have an order waiting at 1.0740 for when the left shoulder is retested. {image} w
Setup was entered @1.0740

Chart:

Attached Image (click to enlarge)
Click to Enlarge Name: audnzdmonthly entry.png Size: 31 KB


w
It's a sport, an artform and a science.
  • #9
  • Edited 9:20am Feb 13, 2014 7:22am | Edited 9:20am
A daily PB was printed last night, but a failing internet connection has kept me from seeing it, untill now.

When I got online, the current period was busy testing the left-hand shoulder of the daily PB, and I've chosen to put a short order at 0.8330 for when the restest fails.

Order will be cancelled if 0.8371 is touched before my order was triggered.

Critical in this setup is the break of 0.8300.
If price fails to break it, and comes back to my order, i'll kill it.
If price breaks 0.8300, I'll move my SL to BE.
FTA is @0.8260, just before sweet spot 0.8250 .

Update: Got a pretty shitty fill, as the result of a spead-hike from an average 2.5-3.0 to well over 15.0.
6 pips slippage and price has moved higher ever since.


Charts:

Attached Image (click to enlarge)
Click to Enlarge Name: nzdusddaily setup.png Size: 23 KB

Attached Image (click to enlarge)
Click to Enlarge Name: nzdusdh4 order.png Size: 32 KB


w
It's a sport, an artform and a science.
  • #10
  • Feb 13, 2014 10:21am Feb 13, 2014 10:21am
Another spread-hike :s, 10+ pips this time. full bar loss on NZD/USD.

Spread was actually 17.5 pips, or higher.
Twice on 1 position and a grand total of 11 pips slippage.

Risk was scaled as -0.98, but ended up -1.22.

This loss is going to be hard to live with, but I guess I don't have much other options.

Chart:

Attached Image (click to enlarge)
Click to Enlarge Name: nzdusdh1 sl.png Size: 29 KB
It's a sport, an artform and a science.
  • #11
  • Feb 13, 2014 2:09pm Feb 13, 2014 2:09pm
Quoting Donaciello
...full bar loss on NZD/USD.(...) This loss is going to be hard to live with, but I guess I don't have much other options...
I had one more option, which is contacting Oanda via live chat.
Their support team is now investigating the position and will respond to me tomorrow at the latest.

I'm very curious as to what they do in this case, especially if this were a live account.
It's a sport, an artform and a science.
  • #12
  • Feb 18, 2014 11:36am Feb 18, 2014 11:36am
Quoting Donaciello
{quote} I had one more option, which is contacting Oanda via live chat. Their support team is now investigating the position and will respond to me tomorrow at the latest. I'm very curious as to what they do in this case, especially if this were a live account.
I've had an exchange of emails with Oanda as a result of my earlier live chat session and most of my questions are now answered.The exact spread at the time of execution [27.5 pips] and the Stop loss was triggered with a spread of 40 pips.moreover, they did admit that the spread were different in the live end of trading-software, so I would not have been affected, had this been a live account.If however, this would have happened on a live account (referred to by them as 'execution at invalid rate') I would get compensated for this.Still pending is an email in which I ask the exact amount I would get back from them in case this would have happened live.The above is essential information, that determines how much I will adjust my balance. (either €1.22: full loss, or €0.25 incurred risk overspill).I will mention in an update which one of those two it's going to be according to Oanda.Keepin' it as realistic as possible.W
It's a sport, an artform and a science.
  • #13
  • Feb 19, 2014 12:59pm Feb 19, 2014 12:59pm
Quoting Donaciello
{quote} I've had an exchange of emails with Oanda as a result of my earlier live chat session and most of my questions are now answered.The exact spread at the time of execution [27.5 pips] and the Stop loss was triggered with a spread of 40 pips.moreover, they did admit that the spread were different in the live end of trading-software, so I would not have been affected, had this been a live account.If however, this would have happened on a live account (referred to by them as 'execution at invalid rate') I would get compensated for this.Still...
Update: Oanda's employee told me to credit my balance with €1.22, as that would be realistic.He did however emphasize that I could not make any extrapolations to other errors, or ones incurred during live trading. Every sitaution is different.I'm quite relieved to have gotten pretty good service, even though I was looking up to it thinking I wouldn't get far.This builds confidence for my further trading for sure!
It's a sport, an artform and a science.
  • #14
  • Edited 3:34pm Feb 19, 2014 2:38pm | Edited 3:34pm
I've moved the Stop Loss for AUD/NZD to slightly better than break even. (see charts)

GBP/USD has been Bullish all week and found support at the 'Highest Close of Resistance' at 1.6635.
I see a bullish continuation as very likely.
Strong resistance is likely due at 1.7035, a Monthly PPZ.

CAD has been fiercely depreciated and hence it printed Huge outside bars against: HKD, SGD, EUR, GBP, USD and a DBHLC against the CHF.

My thought were mostly focused on GBP/CAD and USD/CAD, where price printed Bullish outside bars.

USD/CAD: I'll go long at a break of both the BUOB and the BRN 1.11 (Entry at 1.1105)
Attached Image (click to enlarge)
Click to Enlarge Name: usdcaddaily setup + divergence.png Size: 20 KB

GBP/CAD: I'll go long after price breaks through resistance at 1.8560 and pulls back to 1.8575. mentioned incorrctly in the chart as 1.8675!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCADdaily setup.png Size: 80 KB


W
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusddaily pbtca supp-res-flip.png Size: 28 KB
Click to Enlarge Name: audnzddaily slbe.png Size: 21 KB
It's a sport, an artform and a science.
  • #15
  • Feb 20, 2014 10:39am Feb 20, 2014 10:39am
Entered USD/CAD Long @ 1.1105

Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: usdcaddaily entry.png Size: 27 KB
It's a sport, an artform and a science.
  • #16
  • Edited Feb 21, 2014 6:20am Feb 20, 2014 11:50am | Edited Feb 21, 2014 6:20am
Quoting Donaciello
Entered USD/CAD Long @ 1.1105 Chart: {image}
Price broke out of its hourly consolidation and should be continuing it move higher.
The SL is now at 1.1059 (formerly 1.0935), which effectively reduces risk by approximately 70%.
Further bullish momentum will see me reduce even more.

Charts:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcaddaily sl move 1 daily.png Size: 27 KB
Click to Enlarge Name: usdcadh1 sl move 1.png Size: 29 KB
It's a sport, an artform and a science.
  • #17
  • Feb 21, 2014 6:18am Feb 21, 2014 6:18am
Quoting Donaciello
{quote} Price broke out of its hourly consolidation and should be continuing it move higher.The SL is now at 1.1059 (formerly 1.0935), which effectively reduces risk by approximately 70%.Further bullish momentum will see me reduce even more.Charts: {image} {image}
USD/CAD surged higher overnight and has reached the trouble area I had marked for it.
Since, it has been poking into 1.1160-75 and is continually being pushed lower, but not much.
I've moved the SL to 1.1092, which is still below my entry, but risk is now only 7.65% of it's original.

Charts:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcadh4 sl move 2.png Size: 20 KB
Click to Enlarge Name: usdcaddaily sl move 2 daily.png Size: 22 KB
It's a sport, an artform and a science.
  • #18
  • Edited 9:15am Feb 21, 2014 7:38am | Edited 9:15am
USD/CAD: SL moved to 1.1106 in light of the current news event.
chart to follow

Update: 15:00 GMT Position closed at 1.1140 (+35 pips).

Price printed a mean looking Bearish Outside Bar, sight after the Core CPI figures were released.
Combined with an entry near recent time highs and the weekend coming up; I feel more comfortable on the sidelines.

I'm still very much interested in GBP/CAD for the coming week though.

Charts will follow throughout the weekend.


W
It's a sport, an artform and a science.
  • #19
  • Feb 24, 2014 11:52am Feb 24, 2014 11:52am
I'm about to initiate a new position in Aud/Cad, taken from a H4 chart.

R:R is worse than 1:1, but as stated in #1, this is not rare or off-strategy.

Entry : 1.0017 (break of the DBLHC + spread).
SL: 0.9950 (below the DBLHC +spread)
TP: 1.0050 ( recent high's/ major Trouble area)

Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: audcadh4 setup in detail.png Size: 33 KB
It's a sport, an artform and a science.
  • #20
  • Edited 7:08am Feb 25, 2014 5:47am | Edited 7:08am
Quoting Donaciello
new position in Aud/Cad (...) Entry : 1.0017 / SL: 0.9950 / TP: 1.0050
As you may or may not have seen; I bought AUD/CAD for the most expensive pip in yesterdays market (1.0017).
I've been holding since, with my SL unchanged at 0.9950.
Throughout the whole position I've been looking at a way to cut this loss, but everytime I was about to pull the trigger on it cancellation,
AUD/CAD went up a few pips.
So eventually I decided to leave the risk open overnight and try to cut it back at today's start.

Which is exactly what I've just done (SL moved up to 0.9971; 31% Risk reduction).

Update (13:07 GMT): Position closed manually @ 0.9995 (-21 pips / €-0.34)


Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: audcadh4 sl move 1.png Size: 32 KB
It's a sport, an artform and a science.
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