Huo huo huo huo...120 pips!

Huo huo huo huo huo huo....that's how i felt after my trade ended today. Somehow this song comes to my mind. Maybe because the trade experienced a sharp pullback near my SL before it goes my way and hit my re-adjusted PT while i was away.




The trade started early after a breakout on the upside happen. I entered long on GBP/JPY after confirming the direction. However it was up and down, up and down for about 6 hours before finally going positive. And it was a long battle, triumph at last. Added slightly over 3% to my portfolio on this trade alone. Overall is down 3.4% from my startup capital.
EP: 144.69
SL: 143.19
PT: 145.89 (re-adjusted)
Result: 120 pips.

Cheers!
Huo huo huo huo huo huo....

50 pips Trailing Stop on GBP/JPY

This trade ended on a trailing stop loss. Entered quite early and it took 2 hours before it moves in my direction. It goes down to 145 pips at one point and had a major pullback about 5 hours after entry. Though the indicators still showing no signs of reversal but it still a good gain. Increased portfolio by another 1.4% through this single trade.

Expecting a better result tomorrow. Cheers.

Sloppy trade

Some sloppy defending but highly entertaining game with lots of goals. Two of my favourites. Liverpool and Arsenal ended the game with the score tied at 4-4.

Same goes to my trade yesterday. Persisted to trade even though i hesitated, i shorted GBP/USD at 1.4635 with smaller lot. The next hour it experienced quite a sharp pullback as though there is a breakout on the upside. And i closed it after it retraced slightly with a 20 pips loss. Half an hour later it was down all the way. Lesson learned. No trade when hesitated.

Deal or No Deal?

I entered 2 trades today. First trade, short GBP/JPY at 146.20 with profit target at 300 pips away from entry price. I was practically watching the screen most of the time, and along the way there were many up and downs. Then my pending order for USD/CHF to long got activated at 1.1706 with 300 pips profit target as well.

Shortly after the 2 trades were on, they were in positive teritorry going as much as +80 pips on the first hour though USD/CHF is not moving much. The third hour it pulled back and going into negative and fear began to creep in. Then my mind began to ask me...close, deal or no deal? I checked the indicators and other similar cross pairs, the trend has not reverse - no deal.

An hour later, it was back in positive. GBP/JPY was making about 150 pips while USD/CHF was down 20 pips and it took a while consolidating its position. For a while i thought maybe it was the end of the trend. My mind asked the same question again, close, deal or no deal? No Deal but taking a conservative position, i re-adjust my profit target a few times for GBP/JPY and finally settling at 208 pips while leaving the other trade setup unchanged.

Shortly after it hit my profit target of 208 pips for GBP/JPY while USD/CHF is still hovering at the entry price range. Feeling relieved with the win and while second trade still showing no sign of breakout i decided to close the platform and head home.

12 hours later and at home, GBP/JPY still continue with its downtrend and would have hit my initial 300 pips target but i'm still glad with the 208 pips win. And USD/CHF is still trending sideway, i decided to close the deal with 6 pips gain and have a sound sleep tonight. And another good news is that my trading buddy, Bryan made 17.1% gain today. A great start to the 500% challenge.

Cheers.

Smile & Move

Found a short interesting short clips. Enjoy it.

Two trades on EUR/USD & GBP/JPY

Shorted two trades today. First trade on EUR/USD with a 100 pips target, however closed with 67 pips. Second trade on GBP/JPY on 130 pips target but managed to get only 31 pips after it pullback on the sixth hour of the trade. Week on week growth is at 3.8%.

Two trades on EUR/JPY

Entered 2 positions today. Both EUR/JPY at different time. First short position at 130.50 got out with 0 pip gained. The second short position entered at 130.35 but it encountered strong support at 130.00. It was hovering for a while and i decided to close it with 14 pips gain. Fortunately, moments after i closed the trade, the pair staged a strong reversal that would have hit my SL.

Two trades stucked on holiday season.

Entered long position on USD/JPY at 100.45 and left it over night. The next day it is trending sideways and i entered another short position on EUR/AUD at 1.8228. But it was holiday season, Good Friday and Easter Holiday on Monday. A wrong entry at a wrong time though the signal is still intact.

Ended the trade with 1 pip gain each. As it is still holiday for most part of Europe and US, i decided to end the trade earlier as there is not much volatility and direction for the most part the early session.

False Signal on GBP/USD

Entered GBP/USD at 1.4763 after watching it break out on the upside but it reversed immediately thereafter. I had allowed 83 pips for SL but cut it early at 72 pips loss, should have closed it earlier. This trade wiped out 3.1% from my portfolio now at -14.4%. Greed had creeped in once again.

BOE left its interest rate unchanged at 0.5% and there were no spike after the announcement. US trade balance will be announced at GMT12:30 should have impact on the direction of the US Dollar. Watch out.

Cheers.

Short EUR/JPY at 132.00

Shorted EUR/JPY at 132.00 around 3:23 GMT after it cleared 2 time frame...actually the second time frame only cleared one criteria of EMA. Nevertheless i entered confidently after studying other JPY crosses to show similar trend. However the trend did not last for long and reversed on GMT7:00, about 3 hours after the entry. Managed to grab only 46 pips, thereby increasing the portfolio by 1.3% to overall of -11.7%. Lots of ground to catch. Still got 9.6% to go to hit my weekly target.

The market has been showing lack of direction, with uncertainty over US FOMC minutes to be released at GMT11:00. Hope to see clearer direction then.

Till then, happy trading.

Patience game

Another hasty entry and exit on GBP/JPY. Only one time frame cleared the criteria although other pairs with similar pairs also showed the same trend. It was trending sideway with no clear breakout. After more than 5 hours, my patience runs out and i closed it manually after the signal showed some slight signs of reversal though it could be due to the long sideway trend. Two hours later it went my way...arggggggghhhhhhh!

NFP play

Entered a long position on EUR/USD four minutes after the NFP announcement. The result was in line with market expectation...no surprises. And i lost 52 pips 9 minutes later albeit with a smaller lot size. This trade reduced my portfolio by 0.2%.

Overall this week is still good, increased my portfolio by 9% after 8 weeks of contraction.

Winning streak ended.

Entered into long position on GBP/JPY again but lost 100 pips on this trade. Portfolio reduced 2%. Overall portfolio is down 12%. A lot of catch up to do next week. I think i would skip tonight's NFP announcement. The loss was due to my over enthusiasm. I discounted on the other pair's trend. There were few pairs that was not giving a confirming signal when i entered this trade.

250 pips on GBP/JPY

Entered long position on GBP/JPY upon seeing it cleared 2 time frame. After 7 hours long battle, finally prevailed at Profit Take. A full 250 pips gain. My second consecutive full PT. Gained 4.5% on this trade and currently my portfolio is at -10.3%.