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  • #81
  • Apr 28, 2014 8:01am Apr 28, 2014 8:01am
Quoting Donaciello
(...) A close below 0.8150 and I'll move the stop to 0.8205 until TP is hit. {image}
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It's a sport, an artform and a science.
  • #82
  • Apr 29, 2014 8:50am Apr 29, 2014 8:50am
Quoting Donaciello
{quote} {image}
Hello D, long time. Anyway was wondering if you took full profit for the AUDCHF trade.
  • #83
  • Apr 29, 2014 8:59am Apr 29, 2014 8:59am
Markets picked up volatility and this was especially bad for my CAD-based positions.
Since the two (CAD/JPY short & USD/CAD) were basically the same idea, I've decided to close CAD/JPY as soon as the SL for USD/CAD got hit.
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AUD/CHF shot up, retracing more than 61.8% of it's most recent move down, outside the 1st box.

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It's a sport, an artform and a science.
  • #84
  • Edited 9:28am Apr 29, 2014 9:05am | Edited 9:28am
Quoting albus999
{quote} Hello D, long time. Anyway was wondering if you took full profit for the AUDCHF trade.

I definitely should have, as I saw the 365 EMA lining up picture perfect with the 38.2% retrace of the uptrend.
I was I think €1 in profit, but I held on to it, for full TP to get hit.

I slept through most of the bullishness, but I doubt If I could have closed it earlier.

All in all, it's good to be on the sidelines again, waiting for the Great setups to occur.

Too often - when I was checking Russel2000 this weekend - I passes easily on setups that reminded me of CAD/JPY.
I didn't like any stock enough to 'demo' it, so there's certainly progress in terms of getting picky, but it seem as though I lose some of that patience when trading currency.

I hope to spot higher quality setups in forex to over the coming month, and maybe get back at BE.

How have you been these past weeks?
It's a sport, an artform and a science.
  • #85
  • Apr 29, 2014 10:37am Apr 29, 2014 10:37am
Quoting Donaciello
{quote} I definitely should have, as I saw the 365 EMA lining up picture perfect with the 38.2% retrace of the uptrend. I w...... when trading currency. I hope to spot higher quality setups in forex to over the coming month, and maybe get back at BE. How have you been these past weeks?
Well D, just been busy because of a project i have been working on. All the same it happens that since my last USDJPY trade i've only entered 2 other trades namely a USDCHF trade along with a BUOB on gold. Though I think I should exit my Gold trade because of the confluence I missed however I will still hold unto the trade something my method is havily against.Al
  • #86
  • May 2, 2014 6:32am May 2, 2014 6:32am
Quoting albus999
It happens that since my last USD/JPY trade I've only entered 2 other trades (...) I think I should exit my Gold trade because of the confluence I missed however I will still hold unto the trade something my method is heavily against.
Hey Al,

Good to see you're tackling overtrading and by the looks of it, you've had a quite promising month.

As For you're Gold trade, I saw the setup come up in the J16 thread like this.
I don't really trade Gold, but here's what I'd make of it now.

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If it's going against your strategy, your in a tough position mentally, because - as I've experienced this recently - you'll be thinking about this setup extensively over the coming weeks I guess .
Let me know how it turns out.


Happy trading!
W
It's a sport, an artform and a science.
  • #87
  • May 4, 2014 7:50pm May 4, 2014 7:50pm
hey D, Wow I've just realized one thing about overtrading and this hit me while doing something totally different from trading. Its this that being picky doesn't mean taking less trades but taking more quality trades and trade decisions(management). I know mike and others have said it dozens of time in the J16 thread but it really just hit me this week. In entering these trades I ignored the levels ahead of it because I was hoping it will go through those levels because I was going to be busy so I expected it to go my way since I would not have a chance to see the trade fully through. This is silly, I know not a reason even but that was my thought. This led me to neglect my recent trades so much that I even forgot of which currencies pair trades I was in because of something else i have been working on recently that has been taking a lot of my time and attention. Until I recently replied to your post that I checked which trades I was in and realized that they were there . Now with things settling a bit for me I will quit my trades as soon as the market opens.
Things being so good that the market presented me with a way to exit my trades actually risk free but sadly I was not there. Its good I was away if not it will turn into a regular thing as I will start believing I can get away with them. And oh they were all on demo.
Loss on USDCHF= 53pips Gold= 423points
Sorry D for the rant on your thread it might not make sense
My trades as they stand. Have a happy trading week.

Al.
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  • #88
  • May 6, 2014 3:56pm May 6, 2014 3:56pm
Quoting albus999
hey D, Wow I've just realized one thing about overtrading and this hit me while doing something totally different from trading. Its this that being picky doesn't mean taking less trades but taking more quality trades and trade decisions(management). I know mike and others have said it dozens of time in the J16 thread but it really just hit me this week. In entering these trades I ignored the levels ahead of it because I was hoping it will go through those levels because I was going to be busy so I expected it to go my way since I would not have...
Hey Al,

Don't worry about clutter, I don't mind you posting as long as it's somewhat on topic, which includes a big grey area, but stuff like 'lolcats' youtube video's, commercial stuff, that's really the only noise I want to filter out.
The rest is all welcome.

Now about overtrading and the realization you had; I wonder what you do that sparked the thought.
I too see parallels to this profession regardless where I look, but I find analogies people come up with interesting.

Sorry to see 2 trades go into a loss, while at least gold had a break-out going your way, so I wonder if you closed it before or after it broke out?

My trading week as you can see is fairly uneventful so far, mostly because I've been looking for stocks (weeklies) a lot, but my watchlist vanished in a PC-crash due to overheat.

PA in FX hasn't been great.
I had quite some interest in EUR/AUD, because it came back up to 1.5, but showed me no PA, so no trade.

There's some others I had my eyes on, but most are not showing PA on their way (like G/J), or have some other quirks I'm not going to put money on.

Happy trading,
W
It's a sport, an artform and a science.
  • #89
  • May 8, 2014 4:42pm May 8, 2014 4:42pm
Here's an order I just submitted:

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Entry is a little hard to get (1.5053) but with a pullback to the neckline, this should be possible.
SL is 1.5250, which is just beyond the BEOB.
TP is 1.4450, a Major PPZ on the way down and also the start of the H&S pattern.

The order will be cancelled at Friday 22:00.
Additionally, a close below 1.4900 will close the order too.

1.5000 is critical in this position, so a daily Close above it, I'm out.
SL will go to 1.5008 if 1.4900 is touched.
Bullish PA at or below 1.4800 will get me out before TP.



W.
It's a sport, an artform and a science.
  • #90
  • May 8, 2014 5:44pm May 8, 2014 5:44pm
Quoting Donaciello
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...

Very Good analysis.
  • #91
  • May 14, 2014 4:43pm May 14, 2014 4:43pm
Quoting Donaciello
... Entry is a little hard to get (...) The order will be cancelled at Friday 22:00. ...
The order for EUR/CAD was cancelled last Friday, as price missed it by 2 pips.

Right now, I've submitted a short order for GBP/CHF:
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This order will too be closed Friday night at the latest.
A touch of 1.4885 will also see me close my order.

If the position is triggered however, I'll close it if the criteria above aren't met.
I'll move the SL if the criteria is met (i.e. a touch of 1.4885) to 1.4950.
I'll move the SL to 1.4925, once a daily close below 1.4885 occurs.

So basically I want to see a close back in the box by Friday, or I'm out.

Happy trading!
W
It's a sport, an artform and a science.
  • #92
  • May 14, 2014 6:23pm May 14, 2014 6:23pm
Quoting Donaciello
{quote} The order for EUR/CAD was cancelled last Friday, as price missed it by 2 pips. Right now, I've submitted a short order for GBP/CHF: {image} This order will too be closed Friday night at the latest. A touch of 1.4885 will also see me close my order. If the position is triggered however, I'll close it if the criteria above aren't met. I'll move the SL if the criteria is met (i.e. a touch of 1.4885) to 1.4950. I'll move the SL to 1.4925, once a daily close below 1.4885 occurs. So basically I want to see a close back in the box by Friday, or...
don't ignore the 4900 RN as well as the support just below the setup.
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  • #93
  • May 14, 2014 6:26pm May 14, 2014 6:26pm
Quoting albus999
{quote} don't ignore the 4900 RN as well as the support just below the setup. {image}
Duly noted

I'm really looking for a clean break here.
Any hesitation at 1.49 and above is a bad sign.

The plan I have with this position should take care of it though.
A daily close above 1.49 will see me exit early.

Take care,

W
It's a sport, an artform and a science.
  • #94
  • May 14, 2014 6:31pm May 14, 2014 6:31pm
I'm also watching this one:

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I'll check back tomorrow.

W
It's a sport, an artform and a science.
  • #95
  • May 26, 2014 8:57am May 26, 2014 8:57am
I took a Full bar loss on the recent GBP/CHF short and decided to take the rest of the week off, because I felt a bit angry / disappointed, which I think has done me good.

I feel neutral again and will be actively looking for FX trades this week.

I'm also papertrading stocks, so as to keep me from getting bored with FX.
I recently found a setup in MIG, which by now, I'd cancel, because price did not retrace to my entry-limit.

I found two new setups this weekend, but I wrote most of that in the J16 thread.
It's a sport, an artform and a science.
  • #96
  • Jun 3, 2014 1:15pm Jun 3, 2014 1:15pm
An entry was just activated.

AUD/NZD Long @ 1.0985
SL: 1.0950 ( back in the pattern, means a fake breakout.)
TP: 1.1190 ( Major trouble area around 1.12)

1.1 must be broken quickly and without hesitation, and if it's broken (H4/D1 Close > 1.1), the SL will move up to 1.0995.
I'm trying to trail this long up to it's TP, but a strong bearish setup will get me out as well.

Chart:
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It's a sport, an artform and a science.
  • #97
  • Jun 3, 2014 9:11pm Jun 3, 2014 9:11pm
Quoting Donaciello
... 1.1 must be broken quickly and without hesitation, ...
Attached Image (click to enlarge)
Click to Enlarge Name: audnzdh4 sl moved.png Size: 29 KB


SL is at 1.0990 instead of 1.0995, because it's now buried slightly below the breakout.
It's a sport, an artform and a science.
  • #98
  • Jun 4, 2014 8:34pm Jun 4, 2014 8:34pm
SL got hit when news came out.
small profit made.

Attached Image (click to enlarge)
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It's a sport, an artform and a science.
  • #99
  • Jun 6, 2014 1:34am Jun 6, 2014 1:34am
A long order on EUR/USD (1.3650) has just been filled.

Attached Image (click to enlarge)
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Almost no management needed here.
Price should not come back below the TL; if it does, I'll close the position in a loss.
Once 1.3700 is touched, the SL moves to BE.
1,5 hour before market close, the position will be closed.
It's a sport, an artform and a science.
  • #100
  • Jun 6, 2014 3:00pm Jun 6, 2014 3:00pm
Quoting Donaciello
A long order on EUR/USD (1.3650) has just been filled. {image} Almost no management needed here. Price should not come back below the TL; if it does, I'll close the position in a loss. Once 1.3700 is touched, the SL moves to BE. 1,5 hour before market close, the position will be closed.
Closed the position for a small loss at 1.3635, since price was really slowing down after a move that missed my SL to BE level (1.37) by a handful of pips.
I've also incurred a connection failure on my MT4; first signaling 'no connection' and later when I tried to login again, it signaled 'invalid account'.

I really have no clue what to do with that now, but I'll try to find out tomorrow.
For now, I'm going to get some much needed rest.
It's a sport, an artform and a science.
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