The Wanderings of Tashkent

update on AN. this trade still worth a try, struggling to go lower but i have not lost my faith yet

and daily does not look too bad

Agreed. I'm still in mine!

if it works out the trades should be able to collect couple of hundred pips each at least.
this week usd and especially gbp got hit pretty hard. this is either a sign of reversal or retracement. i had to regroup and realign the open positions. if this is just a retracement, coming weeks should pay off really good. i put some small longs on usd involved exotic pairs like usdmxn and usdzar. time is the greatest judge

something to play with for short term, should be good for a few pips (approx. 70-80 pips)

i thought the best hedge against my aud shorts would be audjpy long, looks very promising, about 200 pips min. on the table this week on this pair.

This is actually a really good call and one I wouldn't have considered. Gonna join you on this one. Normally when I hedge I look at the related crosses. But this makes complete sense.

i am exposed to gbpaud, gbpnzd, gbpjpy and gbpcad longs which are currently doing well but yesterday i had to take a hedge with a concern they could be down for longer term, if things go well, will start slowly releasing audjpy longs because i have no faith in AUD in longer term. it was mainly a hedge against my gbpaud

audnzd doing ok and hoping to see some action in my direction

giving one more and a final go on this one, looks like worth giving a shot

current running trades

watching that horizontal line, if daily closes above, then, well, that would be a good news. looks like we are at a critical level

Indeed, July's Open. Line's up with my lines as well. Although, I'm not in a GA trade, just GU.

Hi Tashkent,

I find your charts quite interesting, with no indicators.

Could you tell us something about your trading method, trade sizes, R:R ratios? How do you decide your entries?

Thanks for sharing your charts.

Regards.

Hi Ignatzio!

every single trading method is based on two main concepts:

1) price can be predicted
2) price can not be predicted
of course there are many other options in between but i will not discuss them, they are all sub concepts.

if you are first type of trader, generally you deal with fundamentals and technical analysis (indicators, fibo lines, trendlines etc), thinking they will help you to predict the future price (action)

if you are second type of trader like me, and think price can not be predicted (we are not talking in absolute terms, of course there are conditions when direction can be predicted with over %90 accuracy, but as i said, i am speaking in general terms and not going too much into details), then your are basically dealing with an chaotic environment, wild swings, violent fluctuations in both directions.

all these leads to

a) understand ANYTHING may happen at ANYTIME
b) use a proper trade size so that a sudden move of a few hundred pips does not kill the account.
c) be flexible, humble and go with the flow, do not resist the prevailing force
d) trade higher time frames and go with that direction
e) never think you can oversmart the market, do not be a top/bottom picker, because nobody knows where the top/bottom is
...
...

building a system around uncertainty is my goal. i do not have to know the future price to make money. this is the real challange..

my second trading concept is "everything vibrate" or "everything moves in rythm" which leads to conclude that price has cycles. after accepting that nobody can accurately predict the future, we also know that things have their own cycles. this is a universal law. this chain of thinking leads to think that there is weakness in unpredictability, that is what a trader must exploit and there comes the technicalities of trading.

everybody must have his own philosophy of trading. this is utterly important. it is the big bang, which generates whole universe of trading systems, it is what makes someone a trader. pick your concepts and build your system on it. this is very reason why i will not talk about the technical side of my trades because i guarantee, it will not suit anybody else but me. my trading style/method is like my fingerprint.

meanwhile, i will answer your two other questions:
1) R:R ratio concept is a myth, this is against my trading philosophy to the core. Price can not be predicted, so R:R does not exist
2) I enter at bounce/retracements in the direction of the monthly and weekly

and would like to thank you for your interest and welcome to the journal

Wisdom !!

first entry closed at BE and added another at lower price, i hope trend has been formed and positions will not get stopped out at BE because i set sl (i do that when position is risky enough)

when i say it is possible to predict the direction under certain conditions, i mean this type of setup (could be any time frame, any pair):

but they appear and fade quickly. if one is dealing with certainty (specific setups) it is more appropriate for scalping. just catch the moment and cash it

Is this GBPJPY M30? I did shorted too =p looking to book it partially soon.

lol. yes it is

most recent AN shorts. this is what i have been waiting for. couple of hundred pips for each position, very little risk from the beginning. expecting a few more pips