Thumper PA - Journal

Background

A few years ago I gave up on using indicators and anything else that distracts from watching price action. God bless the people who can use those tools and be profitable, but I've only ever found them to be a hindrance rather than a help.

I entered into the world of trading almost ten years ago now. Took me a little over two years to realize indicators suck. I've come to believe that the big boys at our beloved banks love it when they see the ocean of retail traders following these things. Easy money for them.

Over the last eight years I've been trading purely based on naked PA. And yes I still look at support and resistance and the occasional fib lines.

System Overview

- Stops are generally between 20 - 100 pips
- Naked PA trading
- Low risk
- Low Drawdown
- Trades on 20 pairs

Goal #1 - $20,000 balance before February 28.

Trade Copying

Monthly - £99

Click here to get the signals

I use 4xSolutions to have trades auto copied into client accounts. It has been an extremely reliable service for me to use. It's super easy to get everything setup and trade execution is very fast. One of the great things about using them instead of a service like ZuluTrade or ZipSignals is that they have no relationship with your broker, so there is no spread markup.

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Weekly Results

Week 1

160.3 pips
1.38% Drawdown
+2.88% Balance

Week 2

661.8 pips
2.19% Drawdown
+9.84% Balance

For those of you who like MyFXBook, here is the link.

Contact Info

E-mail - [email protected]
Skype - PhilDuneFX

Frequently Asked Questions

Can U.S. Traders copy these trades?
Yes

What risk settings should I use?
With the copier it will give you the option of using fixed lots or autosized lots. I recommend using fixed lots with the follow risk suggestions:

Conservative - 1 micro lot for every $2000 of equity
Moderate - 2 micro lots
Aggressive - 4 micro lots

What kind of draw down should I expect?
One thing I can guarantee is that there will never be extended equity drawdown for days and days. This is low risk trading and I never hold on to trades, SLs are almost always under 100 pips.

Alright, on the GBP/JPY trades for today, I've got the SL set just below a support and am looking to see if PA will get to 173.00 by the end of London session. If it hits 173.00 I'll move the stop again. Based on the positive unemployment news out of London today, it's likely PA will go beyond 173.00.

EDIT - 13:43 GMT - Price just hit 173.00 - SL's have now been moved to 172.593

I have made my last adjustment to the GJ trade going today.

PA looks to be breaking that barrier at 173.1 now, or at least it's trying to.

TP set for 173.75. Moved all stops up to 172.76 so we can lock a good profit for today.

Just closed a Eur/Aud trade for 11 pips...about 50/50 price as going to continue. For today, PA has about exhausted itself.

We're in on a NZD/JPY short trade now...target is for it to go around the 85.9 range.

Alright so we're done for the week. Results will be updated in the first post. Week 1 was actually only three days of trading. I expect to be trading quite a bit more next week. Have a good weekend everybody!

We've got some great price action going on today, we're in on multiple trades. Waiting to see if we will see follow through on some of the GBP trades and we might jump in on some more if there is.

London Session - January 29 - 10:12

Take a look at the GCad charts on the 4H chart. There was major resistance this morning where price went up to so we grabbed some short trades there. GCad is in a long upwards trend, but this was a low risk trade for a retracement play.

We've got stops set at 1.85290. PA could easily bounce back up there as it's only 15 pips away, but profit is locked in so it's all good. Possible price could drop another 100 pips over the few hours too, we'll see how it plays out.

Update 1 - 10:30 - Just closed one of the four trades, seems PA could bounce back up and it's at the floor right now. 40 pips were just booked. Three trades continue to remain open. If price breaks below 1.85, SL's will be moved.

Update 2 - 10:36 - Price has broken 1.85, stops moved 14 more pips.

Update 3 - 10:47 - SL hit. For these GCad short trades, 175 pips booked.

I want to make a quick psychological point.

Some of you may see now that short GCad trade we were in a few hours ago has dropped another 150 points quickly after we exited. And that if our stop loss was just 2 pips higher, we would still be in this trade and laughing all the way to the pip bank. We did bank 175 pips with that trade which is not bad at all...however it's easy to play the "what if" game when you see how a trade 'could have' played out.

I don't play that game.

You'll kill yourself mentally if you constantly look back at the charts and say to yourself..."woah, if only I traded 3 lots at that price point...I would have made $10,000 in one day!"

Yeah, don't do that.

Once we exit a trade, we move on and look for the next entry.

U.S. Session - January 29 - FOMC Minutes

Good grief, that was some ridiculous PA on the charts after the FOMC minutes were released. In the first hour after release, we only booked 22 pips. Usually we grab ten times that in the first hour. The three trades we've left open are currently up 40 pips, I expect AUD to be sold during Asian session so I've moved the stops to break even.

Pre-London Session - January 30

PA for GCad has reached near heavy resistance again, we'll be shorting that today with stops just above that major resistance. If PA breaks above and GBP looks strong today, we'll move into a long position.

Just closed one of the two AUD/USD positions left open overnight for 21 pips. We'll leave the other open today with the stop at .87397, this pair is in a downtrend so we might be able to grab a bit more with this trade.

To the new subscribers, welcome! Glad to have you on board. I'll be sending you all an email in a little bit with some more information.

Please feel free to add me on Skype - PhilDuneFX - And I'll be happy to answer any questions you may have.

And for any interested lurkers, you may also contact me on Skype or email (first post).

January 31

We mostly stayed out of the market today, chop chop day. Ended the day with a whopping 8 pips.

The week traded okay, 661 pips isn't bad. We'll be back at it next week. Have a great weekend everybody!

London Session - February 4

A new month! Another opportunity to make more pips.

We didn't do any trading yesterday, but today we've started some trades. Looks like PA on GBP had a fun night during the asian session. We're looking to grab some retracement pips on GAud right now. Also on Eur/Cad PA looks like it will break free from that resistance at 1.50350.

We're expecting to enter some more trades later today as the London session plays out and when our brothers in the U.S. join us.

As always, feel free to send me a message on Skype. Depending on how much chart watching I'm doing, I might not be able to get to you right away, but it's usually not too long.

U.S. Session - February 4

Strong PA happening now. We'll be keeping an eye on these trades until well into Asian session. Stops have been moved to breakeven on multiple trades. The question is always, "what will the market do next? Keep the momentum going or give it back." We'll see. The only thing we can do is enter into high probability trades and manage them effectively.