No one can claim I’m not being transparent ! Feb reuslts have been very dissapointing with quite significant drawdown at -9.1%. With ranging markets this momentum trading strategy obiouvsly has gone into negative territory. I’m working on elements that could improve the system in order to avoid trading in ranging market conditions, but I don’t want to tweak the system every time it goes negative because this is really part of trading and I’m actually fully ok with it. Let’s see if March picks up. Safe trading everyone.
Short signal on USDCAD.
Trading activity is extremely low these past few days, since most of all ongoing trends have reversed or are reversing. Most pairs are inthe cloud or retracing; so our system is not giving any clear signal. There is a general trend of uncertainty in the markets, as fundamental drivers are getting blurred. So we remain patient, on the sidelines.
Long signal on EURUSD
Good morning, I have to entries this morning.
One on NZDJPY and the other on CADJPY (see graphs) :
To know more about my methodology, read about it here.
Just took a long trade on AUDNZD, EMA trending up, price above cloud, good fundamental news driving the pair since end of last week.
My three open trades were taken out on their stop levels. Actually trends ultimately resumed but stops had been tightened pretty much.
Have just taken a long USDCAD. 21 EMA sloping up, good trending pair, low risk with most recent fractal very close nearby.
Took two winning trades quickly before going to work this morning. Setups were very good. Kept risk very low at around 0.5%. Take profits were also placed at R2 since I could not monitor my trades during the day. I must say both trades could have yielded much more (at least double, as shown on below graphs), buoyed by UK Central Bank announcements.
First trade was on GBP/USD : +80 pips
Second Trade was on EUR/GBP : +58 pips.
As of yesterday my account is nearly up 5% for Jan, a very good start to the year.