October Review

So, all data for every trade can be found here, and even thought I started with this strategy just 2 weeks ago on October 18, I found some success. Below are the results:

	Pips	Pips in $	Account $	Total %
October	198.6	$   19.49	$  519.49	3.86%

So it was a pretty decent few weeks actually. 10 trades and of which 2 were busts because of stupid mistakes. First mistake was with my AUD/JPY  after I freaked out and exited a trade because of news I read regarding the pair. Stupid. Then, the second one with the USD/CHF trade and I had a TERRRRRRIBLE stop/loss in place.

Despite the limited amount of time I have to study charts, enter trades and watch them, they were all pretty quality trades. That’s going to be my biggest obstacle as I move forward.

October brought some great lessons and observations

1. Stop/Loss needs to have enough room to breath in case of a bad entry spot (which is my next point) and be able to withstand price before it changes direction.
2. Correct Entry Positions. This will be a battle for the next few weeks and probably months, figuring out when to enter a trade. Are my emotions in play? do I not do enough reading/studying where price and indicators stand? and are my signals actually correct? are the questions I need to answer.
3. Utilizing more information from other charts is pretty cool figuring out where price will go and how to size the trade.
4. I need to get out of trades sooner, with as many pips as possible (AMPAP?).
5. Try riding the trend more, find where price is meeting resistance and support lines and catch that swing.

Looking forward to November and improving, improving, improving. Lets get after it!

First post election trades

The days leading up to the election and after the shocking news that Donald Trump will now be the next president of the United States, we all saw USD pairs go wild. Descending hundreds of pips on each pair to shortly ascend back to even or even surpass price before the election.

Even with all this craziness the day of and after election day, the markets went back to doing what they do. It was interesting to see how each of the different markets reacted but in time we will see the real effect of the Presidential election.

Late night entry using my new friend Ichimoku and QB together

I may have discovered a diamond in the rough for my trading style. After seeing a possible trade setup for the QB strategy, I went to twitter to see if any one else was tweeting about it. I guess I found a user on tradingview.com going in on the same setup but utilizing this crazy looking spiderweb/cloud/smoke looking 4H chart. I was completely taken away as to what the hell was going that I neeeeeded to research what the hell was actually going on. Would you just look at it?!

How in the hell do you one day just make that up?! I pity that person who has no clue how to read any of whats going on in this picture. Luckily, it’s pretty simple if you’re familiar with each individual element.

Back from a week off

So, last week was pretty crazy with work and I didn’t have a chance to watch the markets enough to enter any trades. I was tired from being sick the week before and I just wasn’t up for anything with the forex market.

I injured my shoulder and got a few days off of work. If the pain meds don’t hijack my brain, I will be able to do some research and get a better grasp on this forex thing.

Trade 1:

After that last debacle of a trade with EUR/CHF, I re-entered a position today with the same pair; is it revenge? Hell yeah, the North remembers. I intend to catch only a few pips and hold it for a few hours. The SSD indicator is heading negative on the hour chart but the daily chart says a different story. The trend on the daily chart is negative, but price (if it wants to act normal) is going to correct itself over the course of today.

TRADE 2:

Entered EUR/JPY as a short position shortly after my EUR/CHF trade. Going in at a 30SL and 60 limit. It looks as it may have a bit more momentum to go further but lets take it slow.

UPDATE trade 1: My target was reached and I posted a gain of 15.2 pips. Not all that shabby considering it is exactly where I wanted to exit. The SSD seems that it may descend further over the next few hours. Just happy to get back on a positive mindset after that big loss.What kind of sucks is that after I exited the trade, it continued to descend until it reached my  original Limit (obviously, right?).

A little fun with EUR/CHF

Pippin’ aint easy out here. Actually, with my new QB strategy, I’ve done okay for the few weeks I tried it in October.

There’s a shit ton going on in this chart. I apologize.

Buy on the EUR/CHF at 1.0840. Stop at 50 with a limit of 100 (pretty bold but I’ll go over that later). The Black line denotes the hourly trend. So, its going north to Winterfell. I have the 5 and 10 SMA that follows along the candlesticks. And, the 100 and 200 SMA coming in from the top left corner and crossing at my entry (blue arrow).

2 trades going into the weekend

So, Friday showed up and I was sick as a dog. Regardless, I hit the markets to look for some signals to enter. I honestly didn’t put crazy time into it but I was lucky to find two seperate trades that I considered valid. I couldn’t take screen shots of when I entered, but I closed them this morning so I will post the as I see them now:

Above, is my AUD/USD buy position and as you can see at my time of entry, all signs were valid. I kind of cheated with the SSD but it worked out in my favor. The daily trend is an uptrend so I took that into factor as well. Directly after entering, I went slightly negative and then price just kinda hung out all day before all markets closed for the weekend. Kinda forgot about that part. So, watched it pretty closely as markets re-opened and with no crazy news coming out, I kept it open while I went to sleep. Woke up at the perfect timing as SSD crossed to head south and bring price down. Ended with a +22.4 on the trade or +.44% bringing me to 3.61% over the last 2 weeks.

Here, we have yet another sell position from me with the EUR/CHF. I’m not sure why I tend to go for more sell positions, maybe its the time I read markets and enter trades? hmm. Anyway, I entered this trade pretty cocky and much to early. It almost cost me being too early. As soon as I entered, price went north for a good while before someone came in and dropped the price in my favor. Unfortunately, no correcting really happened, instead price is still falling ever so slightly. At closing, I saw the market correcting itself and exited with a +13 pips, +.25% and overall +3.86% on my account. Let’s see what happens over the next hour or so when markets open here in Europe.

my head and my heart – here live!

Something happened to me over the past few days when I was sick, lying on my deathbed I call my couch. I binge watched so much DareDevil I truly believe superheroes exist; I’m going to constantly watch the shadows from now on.The hallucinations from my medicine didn’t help, but at some point yesterday or Friday night, I felt this overwhelming realization I have yet to make a difference in my family during my adult life. It made me extra sick, well depressed, having realized that. I can’t explain everything, but what it boils down to is that I’m in Europe and they are still back home. At the same time, I felt selfish because it is my life and I need to make my own choices at the end of the day. So, I was left in a pretty empty spot in my head. Meds kicked in, I passed out.

USD/CHF Sell Position

Right on, got another signal that I entered sort of late. Didn’t catch it as I was watching Gotham and Detective Gordan the whole afternoon. Love that guy.

Anyway, looking to continue my winning streak and entered my second short position in a row. Since lines were about to cross and all indicators are reversing I saw it as a good signal to take! It’s my second in a row and hopefully its going to the be the best trade ever. Entered in at .9934 with a limit of 30. Wish i put my loss a but higher now that I think of it.  Game face on, go get em Bears! (the term, not baseball team in the world series, baseball is terrible).

AUD/JPY Sell Position

 So here we are. The first trade I have entered with my new blog. Such a proud moment.

So, in all honesty I entered the trade a bit early at 80.144 and perhaps a bit cocky as well. All criteria is going to possibly hit and with all indicators pointing in that direction, I entered. The AUD has been pretty bullish as of late, but since it is paired with JPY, big moves are easily possible. The resistance to move further upwards hasn’t been hit since mid July, so my stop is located at -30 where my limit is right below the latest swing/support at +55. Not exactly 2:1 but I felt it was a good spot since it was right above the .50 line. I am going to be watching the SSD for the next few hours pretty closely to see if I need to exit this trade early.

lets get this party started

So here I am! Pippinlongstockings coming at you from the heart of Europe. Happy to be here, happy to have you. I’m going to be documenting my newbie FX journey as I go from my demo accounts to a real life money account. It’s going to be a big step so this blog is going to be a help one day down the line.

But why a blog you ask? Here’s a superrr funny story. Two nights ago, I entered a USD/JPY sell position a bit earlier than I should have, but since my criteria for my strategy allows such a big stop loss and the way the markets were reacting, I read it as a trend reversal. After a few hours, I was +39 and on top of the world. “Should I exit and just take the pips? Na, stay in, you’re super smart Pippin! True, true!” was literally going through my head. So what happened a few hours later? BOOM, -56! Sick bro. Oh, that’s not funny at all. Actually, it’s sort of depressing now that my dreams are ruined forever.

I didn’t understand how an almost -120 pip swing could happen so quickly. Granted trading the Yen will always bring crazy swings, but why poor ole’ me in such a short period of time.

That’s the moment I said, I need a blog along with my trade journal for future reference. So here we are.

I’ll post other things along with FX to jazz your life up if you decide to follow me.