Here are my trades for October 29, 2010. I closed out a trade from a few days ago and did two new trades.
This was the final result:
Click here to continue reading Last Day of October: Trades >>
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This is one of my favorite setups and this one looked good. Price hit the R3 of the previous day and there was also a Counter Trend Trade on the previous day. This trade was on a Friday however and it wasn’t a good week of trading for me so I decided to just [...] This was another typical Counter Trend Trade. Price hit S3, so I targeted 20 pips away from the Daily Pivot. Here is the chart: Click above to enlarge There was a piece of British news that came out that the market went nuts. There was an initial spike up, but it didn’t hit [...] Here is another counter trend trade: Click above to enlarge This trade was pretty standard. Price hit the R3 of the previous day. Therefore, I targeted the Daily Pivot on the same day. I stacked 10 trades like usual. The outcome was a +2.2% gain on the account. [...] Here is a next day R3 hit and the counter trend trade: Click above to enlarge Price hit R3 from the previous day, signaling a trade targeting the daily pivot of that day. Price then dropped sharply, hitting the target without much trouble. Since price was so close to the target, I had [...] Here is the second part to the previous GBPJPY trade. I originally canceled the trade because it was a little frustrated with my performance for the week up until then. The 30 minute chart:  Click above to enlarge I was slightly profitable for the week and I thought it might be a good idea to play it conservative and end the month with a profit. I thought about that for about half a day and decided that wasn’t the right attitude to have as a trader. This setup is one of the ones that I have done the most backtesting on and have the most faith in. So if that is the case, why shouldn’t I take the trade? The chart looked pretty good in my opinion, there weren’t any major support or resistance levels that would stand in the way of price getting to the target. So I entered the buy orders again. I ended up closing the trade early. Price eventually hit the target without too much hassle. Here is the 1 minute chart: Click here to continue reading April 28, 2010 GBPJPY Counter Trend Trade >> Here is the second part of the previous Counter Trend Trade. This trade targeted a move back to the original daily pivot, so there was a much longer runway. Here is the 30 minute chart: Click above to enlarge This trade was triggered by a huge price move past the R3 (red line). [...] Here is another short stacked Counter Trend Trade. Price flew through the daily R3 level and set up a signal to trade back to the daily pivot on the day that R3 was hit and also the daily pivot on the next day. This is the next day setup.  Click here to enlarge The target was just above the daily pivot of the day after R3 was hit. this was a small stack box, but unlike my previous GBPJPY trade, I waited until price tested the previous resistance level before putting in the orders. This allowed me to catch it on the way down instead of having the first few orders entered and weathering the huge retracement. The target was hit soon after the resistance level was tested, giving me a +1.9% gain on the account. Although the target was hit perfectly, this still resulted in a very small gain in the account. This was the result of trading a slightly smaller lot size than usual. I traded this smaller lot size because I was still a little shell shocked from the GBPJPY trade that went awry earlier. Click here to continue reading April 28, 2010 USDCAD Counter Trend Trade >> This was the first trade of the week. Here is the 30 minute chart:  Click above to enlarge This was a short stack with only 4 positions because I saw an opportunity to trade back to the closest daily pivot. In my backtesting, this is usually a pretty high probability trade. There was also an opportunity to trade back to the daily pivot on the day that S3 was hit. I put those order in as well and will be documented in another post. As soon as I saw the opportunity, I stacked my trades and waited for price to move up and hit my target. At the time, it looked like price would break the range and hit the target. As you can see, price did break out of the range and opened all of the positions. Click here to continue reading April 27, 2010 GBPJPY Counter Trend Trade >> |
 
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