Rich1969's Journal

[Rich1969]

Well I didnt have a very good week last week (Mon 8 Fri 12 Sept). Lets have a look at the trades a see how it all went wrong!

Weekly summary

Live account
Sep 08, 2008 16:51 GMT Sell GBP/JPY 189.56 closed at 189.59 (Sep 08, 2008 17.02) -3 Pips
Sep 10, 2008 23.13 GMT Sell AUD/USD 7972 closed at 8012 (Sep 11, 2008 02.32) -40 Pips
Sep 10, 2008 10.41 GMT Sell GBP/USD 1.7592 closed at 1.7552 (Sep 10, 2008 11.42) -40Pips
Sep 11, 2008 14.51 GMT Sell GBP/JPY 185.99 closed at 186.49 (Sep 11, 2008 15.12) -50Pips

8 Sep - The was triggered as price brokes the SR level of 189.61 I closed down early becuase the price appeared to lose all momentum after inital move down and retraqcement, as it turned out the price fell sharply by 50 pips then retrace to about 40 pips against me then fell away to profit target level. I considered entering a second trtade on the subsequent break of the same SR level but decided against it.10 Sep I had been testing some aggresseive entry tactics with sucess in a demo account decided to move into a live enviroment and guess I picked the wrong week (post huge gap on Sunday). I have decided to move this stratergy back in to demo for more testing though a wide viarity of market condidtions to see how it holds up over longer term.

11 Sep this was origionally a scalp line I have at 186.11ish level that I decided to wait until the price broke thru psyco level of 186.00. price broke thru with reasonable momentum but then reveresed and stopped out. In hind sight maybe this wasnt really a strong enough price bounce to be classed a true scalp.

So there you have it all in all a very crappy weeks trading!!!

Week Commencing 8 Sept.
Weekly Total
Demo Total 0 Pips
Live Total -133 Pips

[Rich1969]

Demo account
No trades

Live account
Sep 16, 2008 10.10 GMT Sell UKX 5108 closed at 5080 (Sep 16, 2008 10.35) 28 Pips
I wont go into detail on this trade as this is a forex forum, suffice to say I took advantage of massive sell off in equity markets due to failure of Lehmans.

Live account
Sep 16, 2008 11.06 GMT Sell GBP/JPY 185.30 closed at 184.63 (Sep 16, 2008 11.28) 63 Pips

Okay so I got in on time for once. Classic NickB method short SR trade. Hit target of 70 pips (rememeber I remove the spread from my pip count).

Week commencing 15 Sep 08
weekly totals
Live 91 pips Demo 0 pips

Only 125 pips to make up short fall from last 3 weeks trading!!

[Rich1969]

Demo account
No trades

Live account
Sep 18, 2008 19.35 GMT Sell GOLD 848.70 closed at 836.50 (Sep 18, 2008 19.36) 122 Pips
Like the UKX trade a couple of days ago I wont go into detail on this trade as this is a forex forum, but I saw a clear opportunity with high price momentum and breaks of previous low so jumped in. 122 pips in 1 min 35 seconds!!! I'll settle for that this week.
Week commencing 15 Sep 08
weekly totals
Demo 0 pips
Live 213 pips
Only 3 pips to make up short fall from last 3 weeks trading!!

[Rich1969]

Quick chart of the above trade:

Hay I've just realised this is a sort of backwards master candle, Hmmm now theres a thought!

[Olby]

Originally Posted by Rich1969

Only 3 pips to make up short fall from last 3 weeks trading!!

Great work Rich. Three pips, shmee pips!

I bet you got a good feeling going on.

[Rich1969]

cheers Olby,

I have been massively busy this week at day job dealing with fall out from channel tunnel fire, so well pleased to these couple of trades off this week.

Rich

[Rich1969]

No trades to report this week.

Week commencing 22 Sep 08
weekly totals
Demo 0 pips
Live 0 pips

[Rich1969]

I missed the GBPJPY 193.14 shrot trade yesterday due to work commitments. But this looked like it was profitable for those that took it - well done.

I now see a decent scalp level has formed at 186.41 on this pair.

Demo account
No trades

Live account
Sep 30, 2008 14.43 GMT Sell GBPUSD 1.7947 closed at 1.7902 (Sep 30, 2008 14.54) 45 Pips
The entry signal was break of previous low (see chart below), BAT-ATR confirmed, with good price momentum, with the trend and no immediate SR lines in the way.



Week commencing 30 Sep 08
weekly running totals
Demo 0 pips
Live 45 pips

[wombles]

Nice trade Rich.
Quick question(s) - what is BAT-ATR confirmed? Is this some Average True Range indicator?
What method are you using here if not a scalp trade?

Cheers

[Rich1969]

Demo account
Sep 30, 2008 14.25 GMT Buyl EURGBP 0.7852 closed at 0.7897 (Sep 30, 2008 15.20) 45 Pips
This was a reversal bounce taken off 0.7844 major support level, I'm testing some reversal trading stratergies.

Oct 01, 2008 12.02 GMT Sell GBPUSD 1.7754 closed at 1.7797 (Oct 01, 2008 14.54) -43 Pips ****UNKNOWN REASON WHY THIS WENT WRONG****
Price reversed just as I got stopped out set up still looked vaild so I got back in when reconfirmed origional break.

Oct 01, 2008 12.30 GMT Sell GBPUSD 1.7733 closed at 1.7665 (Oct 01, 2008 12.21) 68 Pips
and then I did something very stupid and my old demon the news release rerared it ugly head.

Oct 01, 2008 14.09 GMT Sell GBPJPY 186.30 closed at 186.90 (Oct 01, 2008 14.54) -60 Pips ****DODGY PRICE ACTION DUE TO NEWS RELEASE****

Week commencing 30 Sep 08
weekly running totals
Demo 45 pips
Live 10 pips