MyTradeMirror

[GazFx]

This is one of my simplest trading strategies where the focus is on money management. This morning I have taken a short position in the CHFJPY pair based on price action below the MA, and crossovers in Stochastic and Currency Strength indicators. Note 4 duplicate orders at staggered take profit targets. These are combined with a trailing stop.

 

[GazFx]

Short position opened in the EURAUD with same set-up - price action below the MA, and crossovers in Stochastic and Currency Strength indicators. Note 4 duplicate orders at staggered take profit targets. These are combined with a trailing stop.

 

[GazFx]

Short position opened in the EURNZD based on same set-up - price action below the MA, and crossovers in Stochastic and Currency Strength indicators. Note 4 duplicate orders at staggered take profit targets. These are combined with a trailing stop.

 

[GazFx]

EURAUD stopped out. The original sell signal remains active, and there may be an opportunity to re-enter soon.

127753044 2018.07.04 06:54:23 sell 0.04 euraud 1.57540 1.57790 1.57290 2018.07.04 11:01:32 1.57790 -0.28 0.00 0.00 -7.38
127753047 2018.07.04 06:54:27 sell 0.04 euraud 1.57535 1.57790 1.57140 2018.07.04 11:01:32 1.57790 -0.28 0.00 0.00 -7.53
127753050 2018.07.04 06:54:28 sell 0.04 euraud 1.57537 1.57790 1.56840 2018.07.04 11:01:32 1.57790 -0.28 0.00 0.00 -7.47
127753048 2018.07.04 06:54:28 sell 0.04 euraud 1.57535 1.57790 1.56990 2018.07.04 11:01:32 1.57790 -0.28 0.00 0.00 -7.53
-1.12 0.00 0.00 -29.91
Closed P/L: -31.03

 

[GazFx]

Re-entered EURAUD short position...

 

[GazFx]

EURNZD position has hit take-profit 1 and the stop-loss has moved just beyond breakeven on the remaining 3 positions. There is a guaranteed $1.70 profit on each of the remaining poisitions, and $6.77 has been banked on the fitst position. This is now a 100% risk-free trade with a locked-in profit.

 

[GazFx]

Sorry guys, had to focus attention elsewhere late last week so could not update this journal. Here's where I am at present:

Long position opened in the AUDUSD on set-up - price action above the MA, and crossovers in Stochastic and Currency Strength indicators. Note 4 duplicate orders at staggered take profit targets. These are combined with a trailing stop. First order TP hit for $28.04 profit, and trailing stop currently locking in additional $55.56 profit on remaining 3 orders.

Long position opened in the NZDJPY on set-up - price action above the MA, and crossovers in Stochastic and Currency Strength indicators. Note 4 duplicate orders at staggered take profit targets. These are combined with a trailing stop. First order TP hit for $12.64 profit, and trailing stop currently locking in additional $31.08 profit on remaining 3 orders.

 

[GazFx]

Long position opened in the AUDJPY on set-up - price action above the MA, and crossovers in Stochastic and Currency Strength indicators. Note 4 duplicate orders at staggered take profit targets. These are combined with a trailing stop.

 

[GazFx]

All my positions just auto-closed. Here are the results:

128326551 2018.07.05 10:34:49 buy 0.04 nzdjpy 74.980 74.630 75.330 2018.07.06 07:12:30 75.330 -0.28 0 0.1 12.64
128326569 2018.07.05 10:34:53 buy 0.04 nzdjpy 74.979 75.328 75.680 2018.07.09 09:13:40 75.680 -0.28 0 0.2 25.38
128326571 2018.07.05 10:34:54 buy 0.04 nzdjpy 74.979 75.629 75.980 2018.07.10 02:39:58 75.980 -0.28 0 0.3 36.09
128326573 2018.07.05 10:34:54 buy 0.04 nzdjpy 74.979 75.782 76.180 2018.07.10 11:46:02 75.782 -0.28 0 0.3 28.9
128347326 2018.07.05 11:27:12 buy 0.04 audusd 0.73828 0.73478 0.74178 2018.07.06 12:02:28 0.74178 -0.28 0 -0.02 14
128347347 2018.07.05 11:27:16 buy 0.04 audusd 0.73827 0.74489 0.75028 2018.07.10 11:39:22 0.74489 -0.28 0 -0.06 26.48
128347344 2018.07.05 11:27:16 buy 0.04 audusd 0.73827 0.74471 0.74828 2018.07.09 15:10:13 0.74828 -0.28 0 -0.04 40.04
128347342 2018.07.05 11:27:16 buy 0.04 audusd 0.73827 0.74173 0.74528 2018.07.09 04:34:27 0.74528 -0.28 0 -0.04 28.04
128405576 2018.07.05 14:03:16 buy 0.04 audchf 0.73360 0.73010 0.73710 2018.07.06 15:34:26 0.73710 -0.28 0 0.16 14.13
128405585 2018.07.05 14:03:18 buy 0.04 audchf 0.73359 0.73367 0.74060 2018.07.06 17:08:36 0.73367 -0.28 0 0.16 0.32
128405589 2018.07.05 14:03:18 buy 0.04 audchf 0.73359 0.73367 0.74360 2018.07.06 17:08:36 0.73367 -0.28 0 0.16 0.32
128405588 2018.07.05 14:03:18 buy 0.04 audchf 0.73359 0.73367 0.74360 2018.07.06 17:08:36 0.73367 -0.28 0 0.16 0.32
128405586 2018.07.05 14:03:18 buy 0.04 audchf 0.73359 0.73367 0.74060 2018.07.06 17:08:36 0.73367 -0.28 0 0.16 0.32
128405593 2018.07.05 14:03:19 buy 0.04 audchf 0.73359 0.73367 0.74660 2018.07.06 17:08:36 0.73367 -0.28 0 0.16 0.32
128405592 2018.07.05 14:03:19 buy 0.04 audchf 0.73359 0.73367 0.74660 2018.07.06 17:08:36 0.73367 -0.28 0 0.16 0.32
129208727 2018.07.09 11:40:22 buy 0.04 audjpy 82.535 82.755 83.532 2018.07.10 11:42:16 82.755 -0.28 0 0.15 7.92
129208719 2018.07.09 11:40:22 buy 0.04 audjpy 82.532 82.182 82.882 2018.07.10 02:41:01 82.882 -0.28 0 0.15 12.62
129208723 2018.07.09 11:40:22 buy 0.04 audjpy 82.535 82.755 83.232 2018.07.10 11:42:16 82.755 -0.28 0 0.15 7.92
129208731 2018.07.09 11:40:23 buy 0.04 audjpy 82.534 82.755 83.832 2018.07.10 11:42:16 82.755 -0.28 0 0.15 7.96

Total profit = $264.04

Now watching USDCHF for possible short position later this week or sometime next week. More updates to follow...

 

[GazFx]

Awaiting a downside breakout in the GBPJPY to confirm short position:

 

[GazFx]

All my positions just auto-closed. Here are the results:

128326551 2018.07.05 10:34:49 buy 0.04 nzdjpy 74.980 74.630 75.330 2018.07.06 07:12:30 75.330 -0.28 0 0.1 12.64
128326569 2018.07.05 10:34:53 buy 0.04 nzdjpy 74.979 75.328 75.680 2018.07.09 09:13:40 75.680 -0.28 0 0.2 25.38
128326571 2018.07.05 10:34:54 buy 0.04 nzdjpy 74.979 75.629 75.980 2018.07.10 02:39:58 75.980 -0.28 0 0.3 36.09
128326573 2018.07.05 10:34:54 buy 0.04 nzdjpy 74.979 75.782 76.180 2018.07.10 11:46:02 75.782 -0.28 0 0.3 28.9
128347326 2018.07.05 11:27:12 buy 0.04 audusd 0.73828 0.73478 0.74178 2018.07.06 12:02:28 0.74178 -0.28 0 -0.02 14
128347347 2018.07.05 11:27:16 buy 0.04 audusd 0.73827 0.74489 0.75028 2018.07.10 11:39:22 0.74489 -0.28 0 -0.06 26.48
128347344 2018.07.05 11:27:16 buy 0.04 audusd 0.73827 0.74471 0.74828 2018.07.09 15:10:13 0.74828 -0.28 0 -0.04 40.04
128347342 2018.07.05 11:27:16 buy 0.04 audusd 0.73827 0.74173 0.74528 2018.07.09 04:34:27 0.74528 -0.28 0 -0.04 28.04
128405576 2018.07.05 14:03:16 buy 0.04 audchf 0.73360 0.73010 0.73710 2018.07.06 15:34:26 0.73710 -0.28 0 0.16 14.13
128405585 2018.07.05 14:03:18 buy 0.04 audchf 0.73359 0.73367 0.74060 2018.07.06 17:08:36 0.73367 -0.28 0 0.16 0.32
128405589 2018.07.05 14:03:18 buy 0.04 audchf 0.73359 0.73367 0.74360 2018.07.06 17:08:36 0.73367 -0.28 0 0.16 0.32
128405588 2018.07.05 14:03:18 buy 0.04 audchf 0.73359 0.73367 0.74360 2018.07.06 17:08:36 0.73367 -0.28 0 0.16 0.32
128405586 2018.07.05 14:03:18 buy 0.04 audchf 0.73359 0.73367 0.74060 2018.07.06 17:08:36 0.73367 -0.28 0 0.16 0.32
128405593 2018.07.05 14:03:19 buy 0.04 audchf 0.73359 0.73367 0.74660 2018.07.06 17:08:36 0.73367 -0.28 0 0.16 0.32
128405592 2018.07.05 14:03:19 buy 0.04 audchf 0.73359 0.73367 0.74660 2018.07.06 17:08:36 0.73367 -0.28 0 0.16 0.32
129208727 2018.07.09 11:40:22 buy 0.04 audjpy 82.535 82.755 83.532 2018.07.10 11:42:16 82.755 -0.28 0 0.15 7.92
129208719 2018.07.09 11:40:22 buy 0.04 audjpy 82.532 82.182 82.882 2018.07.10 02:41:01 82.882 -0.28 0 0.15 12.62
129208723 2018.07.09 11:40:22 buy 0.04 audjpy 82.535 82.755 83.232 2018.07.10 11:42:16 82.755 -0.28 0 0.15 7.92
129208731 2018.07.09 11:40:23 buy 0.04 audjpy 82.534 82.755 83.832 2018.07.10 11:42:16 82.755 -0.28 0 0.15 7.96

Total profit = $264.04

Now watching USDCHF for possible short position later this week or sometime next week. More updates to follow...

Still waiting on the USDCHF to do something significant!

 

[GazFx]

Does the NZDCAD have more upside to come? Both daily and hourly currency strength show the NZD gaining strength over the CAD, and daily Stochastic has crossed up from below the 30 level. I would be prepared to buy a break above the mini downtrend line on the 4-hour chart.

 

[GazFx]

Awaiting a downside breakout in the GBPJPY to confirm short position:

It's happening. Just opened a short position in the GBPJPY:

 

[GazFx]

Does the NZDCAD have more upside to come? Both daily and hourly currency strength show the NZD gaining strength over the CAD, and daily Stochastic has crossed up from below the 30 level. I would be prepared to buy a break above the mini downtrend line on the 4-hour chart.

Is this the beginning of the upside breakout we're looking for?

 

[willron]

Wow, your EA interface looks so "clean and neat" and easy to read. Unlike the others I've seen.

 

[GazFx]

Is this the beginning of the upside breakout we're looking for?

Patience! Daily still saying up...H4 saying down!

 

[GazFx]

Wow, your EA interface looks so "clean and neat" and easy to read. Unlike the others I've seen.

Thanks for the feedback. Simple always works best! This is a manual trading strategy. The EA provides money management only by setting-up the stop-loss and take-profit once a trade is entered, then managing a trailing-stop throughout the trade.

 

[willron]

You make it sound so easy to trade Forex. I'm still trying to control the emotions...

 

[GazFx]

You make it sound so easy to trade Forex. I'm still trying to control the emotions...

Patience! Daily still saying up...H4 saying down!

Still waiting for that illusive upside breakout.

 

[GazFx]

You make it sound so easy to trade Forex. I'm still trying to control the emotions...

Trading IS easy. Making money is the hard part!

When you know your strategy inside-out, emotions will begin to disappear. Whatever your strategy is, manual or automated, backtest its performance to learn about the win-lose ratio, longest losing streak, largest losing trade, longest winning streak, etc. Get to know the price movement following a signal. For example, after a buy signal, how far does price move up until the next sell signal is received? How far down does price move until the next buy signal is received? Do this for the last 20 or so signals, and list your results from lowest to highest. Use the lowest as your initial stop-loss and take-profit target. When you open a new position, you'll know that the odds are stacked in your favour!!!