No trends or trades currently

There is absolutely no signal on the radar. A little hesitation on GBP/JPY (short) this morning but markets have been so much in a range for the past weeks, best to stand aside and remain patient.

Stopped out on two trades

Both open trades have been stopped out. One at break even, another with a small loss.

All 8 trades so far in Feb have been loss making. I missed a few good signals but overall trading conditions have been quite difficult.



AUDNZD H4 (02-12-2016 1950)

No momentum: looks like a consolidation phase

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.

Two entries this morning

Good morning, I have to entries this morning.

One on NZDJPY and the other on CADJPY (see graphs) :

CADJPY H4 (02-02-2016 0732) NZDJPY H4 (02-02-2016 0732)

To know more about my methodology, read about it here.

January performance : +3.18%

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.

Two quick winning trades. Up 5% in Jan

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

GBP/USD winner

GBP/USD winner

Second Trade was on EUR/GBP : +58 pips.

EURGBP winner

EURGBP winner

As of yesterday my account is nearly up 5% for Jan, a very good start to the year.

73 pip loss on EUR/NZD

Took a 73 pip loss on my short EUR/NZD trade.

The pair is prone to quite a lot of whipsaws.

eurnzd loss 73 pips

eurnzd loss 73 pips

+195 pips on my USD/CAD long

Exited my long USD/CAD with a 195 pip gain. The profit is close to 4R. A very good signal with good momentum. I never give back that kind of profit to the market, my money management works that way.

winning trade

195 pip gain on USD/CAD long