cvds16 medium term journal

nice result to finish the year! seems you have found your way to beat the market

successful new year and dont party too hard today

let's just say you inspired me here pipetto
For the new year I will be trading at 1.43% of my account as risk and everyday I reach over 3.5 R in profit I will take my R down with 0.005% of my account ... slowly reducing my riskprofile ...
Overall I intend to set a stoploss of my trading account at 12% drawdown, so in the worst case my losses are limited by a plan ... in fact as of today I would still be up over the last three days profits if that got hit ... so I am playing with the money the market gave to me allready ...
for the account to hit it's stoploss I would need 8 losers in a row ... a not very likely thing to happen I think or something would be completely wrong with my plan ...
The idea is to get low risk entries where I risk 1R and then try to hit in the best case 4.5R ... but I will get out if it hits a BRN ... I always have a trailing stop too to protect my back ... I do this on low leverage to calm my mind and have a plan how to handle situations if they happen (almost like an algo) ...
like thursday I wanted to get out in usdjpy at the BRN but the market stopped just 1 pip in front of that and reversed ... my trailing stop got me out at least for some profits ... not quite what I expected but nevertheless a profit ... otherwise it would have stopped me out at be ... my trade in eurusd also got stopped out by the trailing stop ... and so did my eurgbp ... all these trades would have been breakevens otherwise ...
in gbpjpy my trailing stop got me out to the pipette before it really took of and would have gotten me my 4.5R if not stopped out ...
as you can see, no system is perfect and you got to take it as it comes without getting too emotional ...

my special area of focus on monday will be strong yen and weak gbp ...

went long eurusd at 1.0936 and got stopped out for -1.43%

long 1.3937 usdcad

seems like the same start like on friday: another stopout -1.43% ... however I see little opportunities out there to make things back at this point in time ...

shorted eurjpy à 129.72 moved stop to be allready

stopped out for +0.2 R

short audusd à 0.71992 ... let's see ...

got out be, on second thought my entry was being too triggerhappy and the setup was doubtable ... at least it hasn't cost me money ...

As of tonight I am implementing somewhat a change of strategy to try to better catch intraday medium term moves. I will be doing this on the most liquid pairs only: EURUSD / GBPUSD / USDJPY and EURJPY ... let's see how this goes. I won't be taken two positions at the same time but will be focusing at one position at a time. Having four pairs up should get me a few trades a day. I will be risking about 12 pips when I enter and aiming for 48 pips giving me a good risk return of 4R/1R.
At this moment I am watching the open of eurjpy mainly and might take a position quickly after the opening of prices later tonight.
I will be focusing mainly on the European session though but might take some position in early Asian or late USA session if I happen to be around my screen.
I will try to post my trades at the end of the European session at latest.

Took a short in eurusd since that looked just better and came first ... we'll see how it pans out.

still in my short from 1.0914, planning to take profit at 1.0866.
meanwhile I shorted gbpusd too at 1.4280, not sure where I will take profit there yet. edit: moved stop to be now.

closed my gbpusd short for +17 and could have gone long but went long eurjpy instead since that gave earlier signal at 127.47.

Looking back shoulda taken that long in gbpusd :-(. Went long instead for a very small usdjpy @ 117.15.
Got my stops at breakeven everywhere.

out for +20 in usdjpy

and reversed eurjpy @ 12769 for +24

stopped out for -8 in eurjpy

reversed my euro short @ 1.0885 for a total of 29 pips.

and short now at 1.0899 for a quick scalp normally ...