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Prez Forex (pres78) Trading Journal

  • #421
  • Jan 20, 2016 11:44am Jan 20, 2016 11:44am
Quoting VSAgav
Hi Kelowkie Sorry that didnt work out. Can we see what you had marked on the 1hr chart in terms of HVC's etc?
School fees,bro.
  • #422
  • Jan 20, 2016 11:46am Jan 20, 2016 11:46am
Hi VSAgav

This is my 1hr chart.
Attached Image (click to enlarge)
Click to Enlarge Name: qw.png Size: 411 KB
  • #423
  • Edited 1:06pm Jan 20, 2016 12:08pm | Edited 1:06pm
Pres - quick question; on a Pres2BR do you open a trade at the market at the close of the 2nd bar or is it a stop/limit order on breaking the low/high of the 1st bar?
Imagine its the stop order since its similar to how you trade ND/NS but just wanted to be sure.
edit - sub-question: if it is the stop order how many subsequent bars would you wait before pulling the order if it didn't hit?
Thanks!
Volume at Volume
  • #424
  • Jan 20, 2016 12:09pm Jan 20, 2016 12:09pm
Quoting Kelowkie
Hi VSAgav This is my 1hr chart.
Im hoping Pres's answer to my last question might help us both.
Volume at Volume
  • #425
  • Jan 20, 2016 5:03pm Jan 20, 2016 5:03pm
Quoting Kelowkie
{quote} Stopped out,twice
Well you were right on the direction and the zone 50% did hold. See also how price had stopped and found resistance at what was yesterday's zone 50%. Hate to see people lose but it happens to all of us and sometimes you just get caught with either too tight of a SL or getting in a touch too early.
Today's zone = Tomorrow's opportunity!
  • #426
  • Jan 20, 2016 5:18pm Jan 20, 2016 5:18pm
Quoting Rinehart
Pres, I have a question about news announcements. I'm wondering if you pay attention to news and hold off on entering positions before red news? My own personal feeling is that avoiding all red news will make you miss most moves. However, some of the news is like playing with dynamite. My opinion is to be aware of news announcements but to not avoid entering a good trade unless the news is something like NFP or any Central Bank news. Can you please share how you handle upcoming news announcements? Case and point, here's my GU trade from today. I...
​I prefer to use high impact news to produce new zones but yes when I have time I will also trade during news. If I see a great set-up leading into news I will take if however we as traders need to recognize that we may get whipped out during the new release opening action. So even if we are right we may lose. Getting in with a tight SL is very hard at news time. I will also take high impact news like NFP and wait 15-30 minutes to see what kind of reaction we get and trade that if we get a set-up. It really is a tough call how to trade news properly because the reaction to the same event can give such drastic differences from one month to the next.
Today's zone = Tomorrow's opportunity!
  • #427
  • Jan 20, 2016 5:21pm Jan 20, 2016 5:21pm
Quoting VSAgav
Pres - quick question; on a Pres2BR do you open a trade at the market at the close of the 2nd bar or is it a stop/limit order on breaking the low/high of the 1st bar? Imagine its the stop order since its similar to how you trade ND/NS but just wanted to be sure. edit - sub-question: if it is the stop order how many subsequent bars would you wait before pulling the order if it didn't hit? Thanks!
​My trade plan says I can take pres78 2BR at market. This is really the only set-up I will take at market. That said you could also do one of the following (any should be tested before being implemented into a trade plan);

  1. Set a pending at the H of the bar 1
  2. Set a pending at the H of the bar 2
  3. Wait for bar two to be confirmed (as it really can be treated as a test in many cases) - This is my least favorite because I hate losing pips to confirmation but may work for others

Today's zone = Tomorrow's opportunity!
  • #428
  • Jan 21, 2016 3:33am Jan 21, 2016 3:33am
Thanks Pres!
Volume at Volume
  • #429
  • Edited 11:25am Jan 21, 2016 11:06am | Edited 11:25am
Fun trading today. Draghi really fired things up. One of my best trades today has been on USDCAD. My poor weak CDN $ has shown some life today.

Perfect set-up, plus other chances to get short too...

LO we opened above the zone L but below the hinge. Very next bar we closed below the zone low and then we had back to back ND's which closed below yesterday's zone L and stayed below the LO hinge. We were still an hour away from NYO and 90 minutes away from any HIN (high impact news) so I set a pending short at the low of the second ND (close to the LO zone low) recognizing that the market was weak but we could see support at the zone L. All in all I felt really good about the entry.

The next bar closed as a sellers 2BR and closed below the LO zone L and took me into the trade. One could have traded this as an entry as well. One could have also found an entry on the rejection of the LO zone low on a lower TF for a really safe entry.

Currently as I write this post I am locked in for 9:1 after hitting 11:1. My entry is 4465, SL was 4485 (I almost didn't take this trade because I was not happy with a 20-40 pip SL on a pair with a 100 ADR for an intraday trade but I but the bullet based on the overall weak BG and took the trade. Glad I did.

Busy day all in all for trading as I ended up taking positions on EURCAD, EURAUD, USDCAD, GBPAUD and GBPCAD. Was watching EURUSD and GBPUSD but just didn't get anything I liked.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADiH1.png Size: 47 KB
Today's zone = Tomorrow's opportunity!
  • #430
  • Jan 21, 2016 11:21am Jan 21, 2016 11:21am
Quoting pres78
Fun trading today. Draghi really fired things up. One of my best trades today has been on USDCAD. My poor weak CDN $ has shown some life today. Perfect set-up, plus other changes to get short too...
FINALLY, I TOOK THE SAME TRADE AS PRES!!! I caught USDCAD and EURCAD short. Thank you again Pres!!!
  • #431
  • Jan 21, 2016 11:24am Jan 21, 2016 11:24am
Quoting Rinehart
{quote} FINALLY, I TOOK THE SAME TRADE AS PRES!!! I caught USDCAD and EURCAD short. Thank you again Pres!!!
No need to thank me. You guys are the ones finding and taking the trades and putting in the effort to learn how to put the advantage I have presented here to use.
Today's zone = Tomorrow's opportunity!
  • #432
  • Jan 21, 2016 12:44pm Jan 21, 2016 12:44pm
My first trade this week, I couldn't trade Monday-Wednesday because of school. Too bad it turned out as a loser, the ND was very clean, touching the zone low and closing back below it, just as I want to see these types of trades. Stop was around the horizontal white line. Next time. (The zone is based on the H1 HV bar, not on 15M.)

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDM15.png Size: 67 KB
Price and volume reveals everything. The market moves on supply and demand.
  • #433
  • Jan 21, 2016 12:53pm Jan 21, 2016 12:53pm
My only trade today and also a loser was almost identical to Dastonius except on the 5min.

Got stopped out as it came back to retest the 50% before later going much further down.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2016-01-21 at 18.52.48.png Size: 32 KB
Volume at Volume
  • #434
  • Jan 21, 2016 12:59pm Jan 21, 2016 12:59pm
Quoting Darastonius
My first trade this week, I couldn't trade Monday-Wednesday because of school. Too bad it turned out as a loser, the ND was very clean, touching the zone low and closing back below it, just as I want to see these types of trades. Stop was around the horizontal white line. Next time. (The zone is based on the H1 HV bar, not on 15M.) {image}
​Sorry to hear that Dara. Were you not able to bank any at 1:1. Looking roughly at the ND and where your SL was and then the low on that swing after the ND it looks close.
Today's zone = Tomorrow's opportunity!
  • #435
  • Jan 21, 2016 1:03pm Jan 21, 2016 1:03pm
Quoting VSAgav
My only trade today and also a loser was almost identical to Dastonius except on the 5min. Got stopped out as it came back to retest the 50% before later going much further down. {image}
​Gav sorry it didn't work out this time. Again though it seems 1:1 could have been achieved (depending on SL)?
Today's zone = Tomorrow's opportunity!
  • #436
  • Jan 21, 2016 1:28pm Jan 21, 2016 1:28pm
Quoting pres78
{quote} ​Gav sorry it didn't work out this time. Again though it seems 1:1 could have been achieved (depending on SL)?
It looks like that correct but some sketchy order filling (or not) by my broker meant it touched 1:1 target then reversed. Im still happy in that I followed my rules and awaited a retrace which is something I tend to panic about. So another step forward. Might rethink broker but not blaming this loss on them per se. Just another thing to think about.
Volume at Volume
  • #437
  • Jan 21, 2016 6:04pm Jan 21, 2016 6:04pm
Quoting pres78
Busy day all in all for trading as I ended up taking positions on EURCAD, EURAUD, USDCAD, GBPAUD and GBPCAD. Was watching EURUSD and GBPUSD but just didn't get anything I liked. {image}
Here are the charts with my entry signals highlighted. All were nice entries except for EURCAD where I broke my own rules to enter. I did so based on the obvious weakness I was trading on USDCAD and GBPCAD...

GBPCAD pres782BR
GBPAUD 2BR (almost by not quite a pres78)
EURAUD back to back ND's, take your pick
EURCAD back to back ND's... last one closed above the zone level so not perfect

Yellow = YZ
White = LOZ
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPCADiM30.png Size: 48 KB
Click to Enlarge Name: GBPAUDiM30.png Size: 47 KB
Click to Enlarge Name: EURAUDiH1.png Size: 48 KB
Click to Enlarge Name: EURCADiH1.png Size: 67 KB
Today's zone = Tomorrow's opportunity!
  • #438
  • Jan 21, 2016 7:53pm Jan 21, 2016 7:53pm
  • #439
  • Jan 22, 2016 5:16am Jan 22, 2016 5:16am
Good trades Pres!
Does correlation between multiple trades ever worry you? Like having 2 x EUR and 2 x GBP trades on at the same time.
Volume at Volume
  • #440
  • Jan 22, 2016 6:40am Jan 22, 2016 6:40am
Quoting VSAgav
Good trades Pres! Does correlation between multiple trades ever worry you? Like having 2 x EUR and 2 x GBP trades on at the same time.
Yes I will do a quick scan to look for correlation in movements across several pairs so that I can open multiple trades. Like yesterday the only reason I broke my rule on the EURCAD ND was because of the correlation weakness seen on USDCAD and GBPCAD. All trades were opened at similar times.
Today's zone = Tomorrow's opportunity!
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