I am shorting EIRCAD on a downward trend, price below cloud, EMA slope is down, RSI has bounced, stop at latest fractal.
We are still in a range, my short trade on USDJPY got stopped out.
A long signal on AUDNZD this morning. We’re out of the kumo and the 21 EMA is trending nicely. Latest fractal allows for a nice tight stop loss placement.
Apart from a few pairs nothing is trending. It looks like one of these consolidation phases when my momentum system underperforms. This is an indication to remain on the sidelines unless clear signals appear and real trends start initiating. Let’s be patient, some significant news events are on the docket for the end of the week, that might get things moving again. Safe trading to all.
Trading in January yielded few trades (8) with only three winners, however the R:R ratio stood at 4.1 making it a winning month : 3.18%. These monthly figures are available on a historical basis here.
Today’s three trades were closed with a net profit of 123 pips. The GBP/USD went to a large profit of 158 pips with a very good configuration. I took profit by trailing my stop down very tightly once having passed R3. The other two trades were exited manually due to bad configurations : AUD/USD with -16 pips after a series of wicks indicating meagre downward pressure and NZD/JPY with -19pips for the same reasons.
The rules remain the same, keep risk at a minimum, exit if you feel uncomfortable, and do not let any profit on the table.
A good start to 2016 trading with a winning day providing +2% on my account. Each trade was taken at a risk of around 0.5%. Money management remains as important as the strategy.
My EUR/GBP long exited at break-even and I just went long on USDCAD.
Was taken out with a 226 profit on my GBP/USD trade. Stop had been trailed to latest fractal.
My EUR/GBP short trade was stopped out at break-even. My stopped had been trailed down (to Kijun level) and I was risk zero.
A second winning trade today, with a 151 pip gain on my USD/JPY long. This trade delivered near R2 profit and exited on a trailed stop. Once again the signal was good, and maybe this could have been played out to greater gain, but as I explain in my strategy I have a very tight stop once I’m over 3R gain since I never want to give back any part of it.