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Mr Breakout (Day) Trading Journal

  • #81
  • Feb 17, 2017 10:54am Feb 17, 2017 10:54am
Quoting Mr Breakout
{quote} Good afternoon. The target for this short EUR/NZD position is 1.4750 (30 pips below entry price). However, this is only a little "snack" trade, (like eating Doritos chips), I will need to close the position at 3PM or so (EST, 8PM London), to avoid any weekend gap.
My broker EUR/NZD spread 12pip so low profit with this trade but profit is profit
  • #82
  • Feb 17, 2017 11:03am Feb 17, 2017 11:03am
His big cousin the GBP/NZD is also about to break from a long ascending channel.

The breakout is usually to the downside for this type of configuration .
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  • #83
  • Feb 17, 2017 11:07am Feb 17, 2017 11:07am
Quoting Mani82
{quote} My broker EUR/NZD spread 12pip so low profit with this trade but profit is profit
12 pip spread on EUR/NZD?!?

On Oanda for example the spread is currently less than 5 pips: https://www.oanda.com/forex-trading/markets/live
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  • #84
  • Feb 17, 2017 11:48am Feb 17, 2017 11:48am
Closed EUR/NZ +4 pips.
  • #85
  • Feb 17, 2017 12:01pm Feb 17, 2017 12:01pm
Quoting Mr Breakout
Short EUR/NZD 1.4780, 35 pip stop.
Out at 1.4770, +10 pips.
Like I said, it was just a little snack.
  • #86
  • Feb 17, 2017 12:07pm Feb 17, 2017 12:07pm
Quoting Giulietta
Closed EUR/NZ +4 pips.
Earning 4 pips is much better than slipping on a banana peel, yes?

Don't worry, there are plenty of pips to be made next week...
  • #87
  • Feb 17, 2017 12:13pm Feb 17, 2017 12:13pm
So here are the trading results for week ending February 17, 2017:

February 13: Bought GBP/CAD at 1.6375, 35 pip stop: -35 pips
February 13: Short limit order at 1.6355 GBP/CAD, 30 pip stop: +55 pips
February 14: Short GBP/CAD at 1.6300, 35 pip stop: +20 pips
February 15: Short order on the GBP/AUD at 1.6177, 35 pip stop: +27 pips
February 15: Short again GBP/AUD at 1.6170, 30 pip stop: +20 pips
February 16: Bought EUR/NZD at 1.4773, 35 pip stop: +27 pips.
February 16: Long again EUR/NZD at 1.4780, 30 pip stop: +20 pips
February 17: Short EUR/NZD 1.4780, 35 pip stop: +10 pips.

Total : +144 pips.

The pair to watch on Sunday is GBP/NZD, among other things.
  • #88
  • Feb 17, 2017 12:17pm Feb 17, 2017 12:17pm
Hi Mr Breakout

I am grateful for the pips Thanks
I had another bad trading, started day well but lost it all and more - discipline needs work.

Yes looking forward to making money next week- wohooo!!!

Have a great weekend - You're the best MR BREAKOUT!!!
  • #89
  • Feb 17, 2017 12:26pm Feb 17, 2017 12:26pm
Quoting Giulietta
Have a great weekend - You're the best MR BREAKOUT!!!
Thanks, have an excellent weekend too.

Well, time to open a few cold ones I guess...
Attached Image
  • #90
  • Feb 19, 2017 3:10pm Feb 19, 2017 3:10pm
Short GBP/USD at 1.2420, 25 pip stop.
  • #91
  • Feb 19, 2017 3:22pm Feb 19, 2017 3:22pm
Quoting Mr Breakout
Short GBP/USD at 1.2420, 25 pip stop.
Uh-uh, Houston we have a problem.
  • #92
  • Feb 19, 2017 3:41pm Feb 19, 2017 3:41pm
Pending order to buy GBP/USD at 1.2450, 35 pip stop.
  • #93
  • Feb 19, 2017 3:45pm Feb 19, 2017 3:45pm
Quoting Mr Breakout
Short GBP/USD at 1.2420, 25 pip stop.
Out at 1.2440, 20 pip loss. I can always re-enter later.
  • #94
  • Feb 19, 2017 3:46pm Feb 19, 2017 3:46pm
Quoting MoneyZilla
Breakouts can be fake... How do you know when they are for real or when are just fake (most of the times)? {image}
Only an idiot can fail with Daily Breakout,
If you state a fact regarding a breakout can be fake you are a loser.
Gather stats....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #95
  • Feb 19, 2017 3:56pm Feb 19, 2017 3:56pm
Quoting billytt
{quote} Only an idiot can fail with Daily Breakout, If you state a fact regarding a breakout can be fake you are a loser. Gather stats....
I think he is saying that most breakouts are fake.
  • #96
  • Feb 19, 2017 4:02pm Feb 19, 2017 4:02pm
Quoting Mr Breakout
{quote} I think he is saying that most breakouts are fake.
Hi, he is wrong then.
Obviously it depends what you are looking for. (100s of pips)
IF most breakouts are fake? then this in itself is a stat.
Trade well bud
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #97
  • Feb 19, 2017 4:13pm Feb 19, 2017 4:13pm
Quoting billytt
{quote} Hi, he is wrong then. Obviously it depends what you are looking for. (100s of pips) IF most breakouts are fake? then this in itself is a stat. Trade well bud
Well it is almost impossible to find stats on breakouts because support and resistance lines are hard to define mathematically, unless you use specific levels like the previous day's high or low for example.

And even if you define support and resistance lines that way, how do we define a successful breakout?

For example if the price breaks through yesterday's high and moves 10 pips higher, was the breakout successful because I earned the 10 pips I expected?

Trade well too.
  • #98
  • Feb 19, 2017 4:14pm Feb 19, 2017 4:14pm
Short again at the same price (1.2420), 25 pip stop.

It'd better be good this time.
  • #99
  • Feb 19, 2017 4:20pm Feb 19, 2017 4:20pm
[quote=Mr Breakout;9574931]{quote} Well it is almost impossible to find stats on breakouts because support and resistance lines are hard to define mathematically, unless you use specific levels like the previous day's high or low for example. And even if you define support and resistance lines that way,

i used to trade Daily Breakout for 20 points.
I now trade 04-00 Breakout for +10 and i only really need +5 .
This is more than enough to live off.
If we look at Resistance/Support levels in the true sense do we trade the retrace off them or the Breakout? because both happens. This trading is contradictory.
A Daily high/low is very important and recent.

edit ,, this last 2 weeks i have been trading differently but that is a different story, regards
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #100
  • Feb 19, 2017 4:22pm Feb 19, 2017 4:22pm
Quoting Mr Breakout
{quote} Well it is almost impossible to find stats on breakouts because support and resistance lines are hard to define mathematically, unless you use specific levels like the previous day's high or low for example. And even if you define support and resistance lines that way, how do we define a successful breakout? For example if the price breaks through yesterday's high and moves 10 pips higher, was the breakout successful because I earned the 10 pips I expected? Trade well too.
AND, once in a trade off a breakout you can look at support/.resistance or 00 for extra points..
I have years and years of stats to back me up, nothing for resistance/support as they dont mean much to me. as i have already said.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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