QAM Trading Journal $US1000 to ???

NJ



Long cycle perhaps???

Masterrmind.......... :nerd:

GU



Long cycle perhaps???

What are the potential risks?
Look at the bearish trend!

Masterrmind........... :nerd:

The risk is that price if it turns up might only go as far as the support turning to resistance line and then continue on down with momentum.

So how would you play it if you were going to trade it ........ ?

Masterrmind...........

GU

What about a series of spaced out Buy Stops commencing at least 5-10 pips above the green support turned into resistance line and either apply the pending orders at the previous blue Q signal boxes or simply stage them out by 10 pips or so.

1st long - 10 pips above green line
2nd long - 10 pips above 1st entry
3rd long - 10 pips above 2nd entry
etc
etc

It does not have to be 10 pips either it also depends on the pair, the account size or better yet the available account equity and how many trades are already in motion.

SL as outlined in the QAM trading thread adjusted to suit the current chart
TP - long entries you would want them just below DO line, a pivot or a resistance level but the chart should always be consulted!!

Simple yes!

Masterrmind............

JPY continues to show strength against both the GBP and the NZD currencies

Masterrmind.......... :nerd:

GU

Certainly pending orders above the green line would have kept you out of trouble since price continues to move lower!

If you have those orders set make sure you think about deleting them well before the ATW session ends.

Masterrmind...........

Thursday

No cycles of trades taken today!

Lets see what tomorrow has to offer.

Masterrmind..........

Friday Trading Session

Lets see what the market brings today

Masterrmind...........

Looking at NJ and several other pairs!



Previous days Fibs have a nice confluence for shorting the NJ pair..... lets see!

Masterrmind..........

Heat Map



Source: www.myfxbook.com

Note: Do not put all your faith in a heat map! Take from it what is useful (if anything) and discard the rest!

It is far more useful if you monitor it over a given time period and look for ongoing changes related to your pair(s).

Indices can also be used as possible leading indicators to certain pairs but I won't get into that discussion now!

Form an overall opinion based on multiple trading factors!

Masterrmind........... :nerd:

Do not be in a hurry to short the pair.

Its been very bullish so to go short would mean going against the trend.

What we need to wait for is a possible retest and subsequent rejection of the most recent highs and some form of bearish intent to the downside.

Price could pull down a bit now as in a shallow pullback and then continue up higher so we wait and we monitor PA.

Look for an ideal opportunity if one actually presents itself.

Likewise for other pairs.

Masterrmind...........

NJ



Price potentially moving up to retest recent highs so we wait and we watch

Masterrmind........

Look at opportunities to go long AN + short NJ

Make sense?

Pending orders come to mind but which type should be used?

Masterrmind...........

AN



No pullback suggests a continuation of price to the downside so be careful about going long on this pair.

Not a very good idea at this stage so just keep monitoring the pair and look for signs of change in PA!

Masterrmind............

Long AJ + long AU

AUDJPY [M5; 40 - manual]



AUDUSD [M5; 40 - manual]



Only a few entries due to a later than preferred entry time in the ATW session!

Masterrmind............

Closed out 2 longs on AJ
Closed out 2 longs on AU

4 entries for 4 winners!

Masterrmind............

See you all next week when the plan will be to ramp up things a little!

Have a great weekend everyone!

Masterrmind...........

Soros is not wrong, after big drawdown, T.E is hidden, then big leverage used to recoup the losses and account gets public again.Nothing new under FF sun.
I will definitely keep on watching this T.E though, cause im curious to know how long you ll be able to keep doing it.
Gotta give you props to put up a live explorer and to see that you indeed got losing trades. so lets watch the show.

Drawdown

Have you actually looked at what the DD was in those UJ short trades?

DD is a relative parameter and as I have said I keep maximum floating DD <10% of account balance (unless I state well in advance that this value needs to be changed and NOT while a current cycle is running .... although that would be convenient for me don't you think?).
This will not intentionally happen!

If the floating maximum DD breaches the 10% (assigned maximum) at any time then I start looking for trades to close out to keep the DD below the assigned limit.

As a matter of fact I start looking at closing out some suitable trades well before this limit!

By doing this it allows enough free margin in the small account to open FIFO 'high' lot entries to be used for recovery purposes.

Of course there is little point in apply such recovery trades if you lack the skill so be very careful.

Losing Trades

Unfortunately at times a losing trade occurs, very sad but it happens!

Sometimes a losing cycle can also occur!

I have mentioned in the QAM Trading Strategy thread that there may be some losing trades and maybe some losing cycles.

But the ultimate goal is to show a weekly net% gain and attempt to build the little 1K account into a larger account

How many times do I need to repeat this point.......

Higher relative Lots

Make no mistake that later in this trading journal I will add 'higher' lot entries in amongst a currently running cycle to gain additional profit at opportune times as I see it.

Some of the ratios of account balance to lot size may be addressed in this journal thread or the other thread.

My Journal

Never forget the fact that the ideas and the trade executions shown in this trading journal section pertain to my personal trading of the QAM strategy and therefore I do not owe you any explanations whatsoever about any of the trading techniques that I do or do not apply.

I have mentioned many times before that I do and I will apply higher lot position sizes at times as I see fit!

If a recover technique needs to applied to bring the account back into order then I will apply the skills to make that happen (market willing).

Future 'high' lot recovery techniques will probably not have such high relative lots applied as in the most recent recovery UJ trades!
However, I reserve the right to trade the account as I deem necessary and apply whatever trading techniques I see as appropriate.

It is my own account afterall ..... Is it not!

Other Points

I generally trade QAM with a much larger account meaning that the relative ratios between normal trades and recovery trade(s) lot size is much higher.

For example, Imagine trading a 10K account applying 0.02 lots normal (0.2 lots recovery mode) compared to 1K using 0.02 lots (0.2 lots recovery mode) ..... big difference right? I leave the simple Math for you to work out!

A 1K account applying this strategy is risky I make no excuses about this fact and I have mentioned this many times.

This is simply my own personal journal.

FOR SHOW

Absolutely yes!

Of course it is!

Its meant to be an example to show other traders keen on trading the Quantum concept that a small 1K account can be turned into a much larger account!

Time will be the ultimate decider but I assure you I will give it my best effort ......

TE

I do not need props to put the explorer up or to take it down ....... its amazing how effective it can be provided you know how to use it!

TE are only for the serious traders prepared to outline their trading skills to the public where all trades taken can be viewed and analyzed.

They are also somewhat personal (especially the TEs linked to live accounts) so a trader can put them up, pause them or delete them from watchful eyes as they choose ... its their choice NOT yours!

Milking trades by 'lazy' traders is an activity that I do not condone as it shows a complete lack of effort to learn some of the trading techniques.

I was hoping for other traders to link live TEs but so far I see none ....

The idea behind linking TEs was to better discuss and communicate likely cycles of trades from certain pairs to be traded on a given day.

A communicating trader network certainly would have made the path alot more enjoyable and beneficial for everyone, myself included.

Non Participation

People similar to you and Soros have nothing of real importance to say or contribute and you focus only on the negative.

Why don't you try to apply CONSTRUCTIVE CRITICISM because I respond better to that!

Start asking sensible questions and be more engaging and participate (I see zero participation from you which tells me you seek nothing)

As with Soros you both have no TE (your choice), no trading history and nothing to share!

Comments are best left in the other QAM Trading Strategy thread available from the following link

http://www.forexfactory.com/showthread.php?t=580721

Do you not see value in what I have provided in both these threads?

If not then I ask why are you even here?

I hope everything is much clearer for you to understand now?

ps. Its not meant to be a show where you sit back in a lounge chair with popcorn and watch on!

You will never learn anything in trading if you do not engage in a positive manner!

Good trading,

Masterrmind...........

lol no need to explain yourself that much. just let the t.e do the talking.