Showing posts with label USDCAD. Show all posts
Showing posts with label USDCAD. Show all posts
Thursday, July 19, 2012
USDCAD closed
The USDCAD trade hit the take profit which gave us a nice profit of about 110 pips! Great result, and it looks like it has hit the bottom when the TP was triggered.
Wednesday, July 18, 2012
Some order amendments for the USDCAD trade
Well, things have been going pretty well with this trade, and as such I have made some slight changes.
The new SL is 1.01381, so we are guaranteed a profit.
The new TP however has chaned to 1.00730.
A couple of reasons for this. One my signals are telling me that this trend will continue, it has broken some support levels, and the SL is actually slightly above this new resistance, so we will be protected if there is a sudden change. The new TP is just above an older support line, and I woudl be happy to take this.
Monday, November 7, 2011
Forthcoming week in a nutshell
Well, here we are again - a new week with some new trading opportunities.
The first one that I can see straight off the bat is some major resistance on the USDCAD on the 4 hour chart and all the charts below that, 1h, 30 min, 15 m, 5m and 1 m. The only chart that does not have this resistance is the daily chart. In fact I have taken a sell position in this already - it is not part of this system, so it will not go to the results, but there is a really solid resistance line that it should be a gimme.... although we all know there is no such thing!
As for the other pairs, there is a potential trade on the EURUSD... although I have not taken it. It is not a brilliant set up - ie, it was overbought to long ago to believe that it even fits into the system - it is touch and go at best, so I am leaving this trade. If you wanted ot take a position, it would be a sell, but if it were taken, t'were best be taken quickly and brought to Breakeven point very quickly to lock in profits and limit the losses that could well come from it - it is quickly moving to oversold, so you can probably expect a bounce back.
The issue we have at the moment is the ongoing crisis in Greece that is having a major impact on most of the markets. Greece still does not truly know what it is doing, and from going from a place of security, the PM called a referendum and caused chos through out the Euro zone. No one truly knows how this will play out, so apart from the EURCHF, the waters are very choppy at the moment and hence why there has been no trades recenely - that is not to say that things will not pick up, but certainly I do not want to get into anything until I know which way the trend is blowing.
As always, I will be updating any trades as they become apparant, but expect nothing in the next couple of days (certainly on this strategy, as it will not be producing anything for the time being that I can see...)
Happy trading!
The first one that I can see straight off the bat is some major resistance on the USDCAD on the 4 hour chart and all the charts below that, 1h, 30 min, 15 m, 5m and 1 m. The only chart that does not have this resistance is the daily chart. In fact I have taken a sell position in this already - it is not part of this system, so it will not go to the results, but there is a really solid resistance line that it should be a gimme.... although we all know there is no such thing!
As for the other pairs, there is a potential trade on the EURUSD... although I have not taken it. It is not a brilliant set up - ie, it was overbought to long ago to believe that it even fits into the system - it is touch and go at best, so I am leaving this trade. If you wanted ot take a position, it would be a sell, but if it were taken, t'were best be taken quickly and brought to Breakeven point very quickly to lock in profits and limit the losses that could well come from it - it is quickly moving to oversold, so you can probably expect a bounce back.
The issue we have at the moment is the ongoing crisis in Greece that is having a major impact on most of the markets. Greece still does not truly know what it is doing, and from going from a place of security, the PM called a referendum and caused chos through out the Euro zone. No one truly knows how this will play out, so apart from the EURCHF, the waters are very choppy at the moment and hence why there has been no trades recenely - that is not to say that things will not pick up, but certainly I do not want to get into anything until I know which way the trend is blowing.
As always, I will be updating any trades as they become apparant, but expect nothing in the next couple of days (certainly on this strategy, as it will not be producing anything for the time being that I can see...)
Happy trading!
Friday, October 28, 2011
review of the weeks trading
Well, what a week it was. We had one trade that netted us 90+ pips. That is a great result. However, my prediction came true, and the USDCAD pair dropped like a stone, and we could have picked up additional pips - the trade set up was actually perfect - but I missed the boat by a couple of hours, and by that time, the opportunity passed. This would have turned into a potential high risk low reward trade. It is easy to look back and say that it would have been a good decision to jump in the trade, but at the time, you do not have the liberty to see what happens in the future!
What was not so great is that we had a trade setup on about 4 different charts which would have netted over 1000 pips all combined (mainly off the back of the Euro). I missed these as I was simply not in time to take the trades and be 'guaranteed' the profitability I was after. I think I could have jumped on the bandwagon and tried to pick up 10 - 50 pips, but the risk was simply not worth it. It does seem a bit silly to try to force these trades. We could happily do 4-8 a month, and with that we should see some nice returns. The trades we are taking are all high percentage trades with high profits attached to them.
All in all, I am pleased with this so far, and hopefully any one who wants to jump on the bandwagon will be pleased as well.
I have been looking at shorter time frames to ramp up the proiftability of my trading, but at the moment, I have not got the time to dedicate to it, although it would be great if I could have the time as I would certainly give it a go. At the same time, the results here would still be strictly for this strategy.
The success and failure of a system is judged on results - so far we are winning more than we are losing, and we are gaining more pips than losing. This is certainly a great start, but I am trying to stay rooted to the ground here, for the very fact that a trading strategy is judged over the long term - hundreds and thousands of trades- so this is still very very much in its infancy.
The trends are very strong in the markets at the moment, so away from this strategy, you may want to jump on the bandwagon and seek a few pips on the ride.
As an aside, if you can use nano lots on your account (1 pip = $0.01), then starting with a $800 account (about £500) you would be now sitting on 881.35 - an increase of just over 10%. This is taking into account the losing trades as well!!!
In actual fact, I am going to add another widget which will show an $800 account (i prefer to work in USD as the pips are easier to calculate).
Anyways, here's to a relaxing weekend, and some more....
Happy trading! :)
What was not so great is that we had a trade setup on about 4 different charts which would have netted over 1000 pips all combined (mainly off the back of the Euro). I missed these as I was simply not in time to take the trades and be 'guaranteed' the profitability I was after. I think I could have jumped on the bandwagon and tried to pick up 10 - 50 pips, but the risk was simply not worth it. It does seem a bit silly to try to force these trades. We could happily do 4-8 a month, and with that we should see some nice returns. The trades we are taking are all high percentage trades with high profits attached to them.
All in all, I am pleased with this so far, and hopefully any one who wants to jump on the bandwagon will be pleased as well.
I have been looking at shorter time frames to ramp up the proiftability of my trading, but at the moment, I have not got the time to dedicate to it, although it would be great if I could have the time as I would certainly give it a go. At the same time, the results here would still be strictly for this strategy.
The success and failure of a system is judged on results - so far we are winning more than we are losing, and we are gaining more pips than losing. This is certainly a great start, but I am trying to stay rooted to the ground here, for the very fact that a trading strategy is judged over the long term - hundreds and thousands of trades- so this is still very very much in its infancy.
The trends are very strong in the markets at the moment, so away from this strategy, you may want to jump on the bandwagon and seek a few pips on the ride.
As an aside, if you can use nano lots on your account (1 pip = $0.01), then starting with a $800 account (about £500) you would be now sitting on 881.35 - an increase of just over 10%. This is taking into account the losing trades as well!!!
In actual fact, I am going to add another widget which will show an $800 account (i prefer to work in USD as the pips are easier to calculate).
Anyways, here's to a relaxing weekend, and some more....
Happy trading! :)
Tuesday, October 25, 2011
USDCAD Trade closed out
Well, the USDCAD trade has closed, and I was filled at 1.00292 due to my trailing stop, I had shortened it this morning after the run downwards, so quite happy that I did, otherwise I would not have made as much profit.
As it stands I achieved a profit of 94.2 pips on that trade, not too bad at all.
One thing to note, is that I can see it making it's way back down again, but I am not too concerned with direction AFTER I am out of the trade.
The main thing is profits, and we are getting plenty of them!
Happy trading!
As it stands I achieved a profit of 94.2 pips on that trade, not too bad at all.
One thing to note, is that I can see it making it's way back down again, but I am not too concerned with direction AFTER I am out of the trade.
The main thing is profits, and we are getting plenty of them!
Happy trading!
Monday, October 24, 2011
back to guaranteed profits
Well, the USDCAD trade has tipped itself over 50 pips porift, so the trailing stop has now kicked in, and we are guaranteed profits (again!). It is nice to return to profitability since the last trade was a negative (but subsequently went into some big profit!).
Trading rules are there for a reason, and by abiding by them, we will win more than we lose, and win more bucks than we lose!!
As an aside, there were quite a few great trade setups for lots of different currencies, I missed these as they came at times I was not expecting. This probably means we won't get some trades in the next few days, but it is always better to under trade than over trade, so let's not worry too much about that!
Also, I have decided not to use the strategy on the metal trading. It may be that in a few months time it will be reinserted, but at the moment I do not understand the margin levels, and how it works in the software of my choice... So we will see what happens over time, but I am closing the trade (although this was never going to count against the Forex trading account).
Happy trading, and keep it up!
Trading rules are there for a reason, and by abiding by them, we will win more than we lose, and win more bucks than we lose!!
As an aside, there were quite a few great trade setups for lots of different currencies, I missed these as they came at times I was not expecting. This probably means we won't get some trades in the next few days, but it is always better to under trade than over trade, so let's not worry too much about that!
Also, I have decided not to use the strategy on the metal trading. It may be that in a few months time it will be reinserted, but at the moment I do not understand the margin levels, and how it works in the software of my choice... So we will see what happens over time, but I am closing the trade (although this was never going to count against the Forex trading account).
Happy trading, and keep it up!
Wednesday, October 19, 2011
Back in with the USDCAD
We have had another trade triggered with the USDCAD. This time it is a sell. I got into this about an hour or two ago at 1.01234 (seriously!).
This has a strong trend going downwards, so I am a little more confident about this than the EURCHF. I think that was the major problem with the EURCHF trade, is that for a start it was whipsawing, and because of that, there was no strong trend. On that note I would say that it was me being wrong to get into the trade rather than the strategy/charts with the wrong signal. It is a learning point, and one I will be remembering. The strategy is supposed to target trades with a huge chance of going to profitability, and some of that is paying a little more attention to what the charts tell me!!!
Any way, here's to some more good trades, and hopefully more profitability!
This has a strong trend going downwards, so I am a little more confident about this than the EURCHF. I think that was the major problem with the EURCHF trade, is that for a start it was whipsawing, and because of that, there was no strong trend. On that note I would say that it was me being wrong to get into the trade rather than the strategy/charts with the wrong signal. It is a learning point, and one I will be remembering. The strategy is supposed to target trades with a huge chance of going to profitability, and some of that is paying a little more attention to what the charts tell me!!!
Any way, here's to some more good trades, and hopefully more profitability!
Wednesday, October 5, 2011
Another money maker
Well, the trade closed after the trailing stop was hit with a profit of 231 pips. We got out of the trade at 1.0524.
It is quite difficult getting all the info, as I do not have access to my charts, and what I can access is really quite limited.
Anyway, we have increased our bank by 8.8% in total. Our last trade hit 4.6% which for one trade at our conservative trading, is great - 3% with a stop loss of 150!
If you wanted to be a bit more aggresive, you could double your lot size to 2 micro lots, and you woudl have increased your bank by 16%! This however does come with a downside, as you would have to increase your risk (to 6% per trade) or halve your stop loss... neither was attractive on this trade, as I believed that there was a good chance that this could have gone against us quite a lot. However as it is, I am very happy with the results so far. I hope the above shows just how versatile you can be with your risk, but there are pros and cons to both. I think that in the first trade, there was a big move downwards in one period, and it dropped by about 100 pips, so it could have left you out of a trade that went on to make a nice profit... of course, it does mean that your risk reward is increased, but if you get more losing trades... It all adds up in the end.
Happy trading everyone, and I will start back up next week. The rest is a holiday (albeit a working one at the moment!)
It is quite difficult getting all the info, as I do not have access to my charts, and what I can access is really quite limited.
Anyway, we have increased our bank by 8.8% in total. Our last trade hit 4.6% which for one trade at our conservative trading, is great - 3% with a stop loss of 150!
If you wanted to be a bit more aggresive, you could double your lot size to 2 micro lots, and you woudl have increased your bank by 16%! This however does come with a downside, as you would have to increase your risk (to 6% per trade) or halve your stop loss... neither was attractive on this trade, as I believed that there was a good chance that this could have gone against us quite a lot. However as it is, I am very happy with the results so far. I hope the above shows just how versatile you can be with your risk, but there are pros and cons to both. I think that in the first trade, there was a big move downwards in one period, and it dropped by about 100 pips, so it could have left you out of a trade that went on to make a nice profit... of course, it does mean that your risk reward is increased, but if you get more losing trades... It all adds up in the end.
Happy trading everyone, and I will start back up next week. The rest is a holiday (albeit a working one at the moment!)
Monday, October 3, 2011
Away for a couple of days, but the trade is still going strong
Well, the USDCAD has now run up gains of about 200 pips, so we are well into profit which is great news.
Unfortunately I am on business in the Czech republic, and I can not access most of my accounts (and even Blogger is now showing up in Czech, and I do not know how to change it... I can not read it!)
No big drama, the trailing stop will kick in so I won't lose much cash if it were to go against me, but that is ok in any case as we are well into proift and have added at least another 3% to the bankroll. I just wish I could see my charts to know whether I should be in another trade... You just watch, i will come back to the UK, and will be telling you how I should have been in loads of trades and would have earned X amount of dollars ;). The annoying thing, is that I could see a change in the markets... whether that led to a trade setup, I do not know though, but hindsight will always be 20/20.
Any way, I might not be posting this week because it is tough trying to get the information... although, I may post something about Forex in general at some time this week... just to get it off my chest.
Happy trading all!
Unfortunately I am on business in the Czech republic, and I can not access most of my accounts (and even Blogger is now showing up in Czech, and I do not know how to change it... I can not read it!)
No big drama, the trailing stop will kick in so I won't lose much cash if it were to go against me, but that is ok in any case as we are well into proift and have added at least another 3% to the bankroll. I just wish I could see my charts to know whether I should be in another trade... You just watch, i will come back to the UK, and will be telling you how I should have been in loads of trades and would have earned X amount of dollars ;). The annoying thing, is that I could see a change in the markets... whether that led to a trade setup, I do not know though, but hindsight will always be 20/20.
Any way, I might not be posting this week because it is tough trying to get the information... although, I may post something about Forex in general at some time this week... just to get it off my chest.
Happy trading all!
Friday, September 30, 2011
Some more guaranteed profits
Well, I have a trailing stop on the USDCAD, and as I am writing, it is up 167 pips, so that is a guaranteed 117 pip profit with no risk of losing it.
The strategy seems to be catching some really good moves that will pay us really quite well.
I will keep up the good work, and I am still looking out for more moves in the other currencies. There is a good chance that this will roll over the weekend, but that is not too much of a problem. 2 weeks, and 2 good profits (although we are still running with this one as it stands!)
We are still only risking 3% of the total account (seriously a drawdow of 3% max on any one position is fantastic)and yet we are still making some really good money. It will work out that we will have been able to increase the account size by nearly 10% by the end of 4 weeks trading if this keeps going.
Do not believe the hype that you can double your account in a month. This will mean that you are risking far to much, and you will be saying bye bye to your account very quickly.
I would have hapy to be banking $50 a month knowing that the risk of me losing $500 is next to minimal.
In a years time, the account could well be up to $5000 making me $500 a month. That is a holiday every month if I were to withdraw!
Risk a lot at your peril!!!
It is still early days for the strategy, so we will see where it takes us, but so far even I am impressed with the results I am getting. Sticking to the trading rules is proving very very important, and more importantly proving that they are valid signals that I am getting.
Do not get me wrong, I m sure that there are some other people out there that can get much better results risking the same amount, but so far I am very happy with the results - it is very low maintenance, and so far (fingers crossed it carries on) I am just banking money every time I put a trade on...
Happy days!
Happy trading everyone, and hope you have a great weekend!
The strategy seems to be catching some really good moves that will pay us really quite well.
I will keep up the good work, and I am still looking out for more moves in the other currencies. There is a good chance that this will roll over the weekend, but that is not too much of a problem. 2 weeks, and 2 good profits (although we are still running with this one as it stands!)
We are still only risking 3% of the total account (seriously a drawdow of 3% max on any one position is fantastic)and yet we are still making some really good money. It will work out that we will have been able to increase the account size by nearly 10% by the end of 4 weeks trading if this keeps going.
Do not believe the hype that you can double your account in a month. This will mean that you are risking far to much, and you will be saying bye bye to your account very quickly.
I would have hapy to be banking $50 a month knowing that the risk of me losing $500 is next to minimal.
In a years time, the account could well be up to $5000 making me $500 a month. That is a holiday every month if I were to withdraw!
Risk a lot at your peril!!!
It is still early days for the strategy, so we will see where it takes us, but so far even I am impressed with the results I am getting. Sticking to the trading rules is proving very very important, and more importantly proving that they are valid signals that I am getting.
Do not get me wrong, I m sure that there are some other people out there that can get much better results risking the same amount, but so far I am very happy with the results - it is very low maintenance, and so far (fingers crossed it carries on) I am just banking money every time I put a trade on...
Happy days!
Happy trading everyone, and hope you have a great weekend!
Thursday, September 29, 2011
New trade activated
The USDCAD trade has been triggered at 1.02930 for a buy.
I don't think that there will a massive profit here, and it will need to be monitored quite closely, but here goes for trade number 2! Let's see if we can get some more profit on this one.
I have been monitoring this currecny pair since the last time we missed it. It has taken a massive move, so whether it can maintain it - not really sure, but we will know in the next couple of days!
Happy trading
I don't think that there will a massive profit here, and it will need to be monitored quite closely, but here goes for trade number 2! Let's see if we can get some more profit on this one.
I have been monitoring this currecny pair since the last time we missed it. It has taken a massive move, so whether it can maintain it - not really sure, but we will know in the next couple of days!
Happy trading
Friday, September 23, 2011
Trading rules
So after yesterdays closing result of +220 pips, we now need to look to the future.
Looking at the charts, most of them seem to be trending quite strongly, which is great for getting on the band wagon, however this does not suit with the trading rules of getting into a trade - all the analysis is off at the moment (well except for one indicator, but I need all of my indicators to line up before I enter a trade - which makes this strategy so powerful). This means that we have 2 options:
1) Look at shortening the timeframe of the charts - I am trading on a 4 hourly time frame, which means that I have lots of opportunity for the trade to go in the direction I want, and also for it to get the maximum profit while at the same time minimising my risk- this marying off the best profit conditions, with either the ndicators pointing to get out of the trade due to sudden movements - this will actually mean we get out before a stop loss is hit, or if it is a slow moving turn in the charts, we simply go to the stop loss and get out automatically.
2) Wait until the markets change.
There is a great book called market wizards, which goes into detail about incredibly successful traders and their ability to ride the highs and lows - it is a really intriguing read (you can get it from Amazon - see the link on the right. The reoccurring thoughts in the book is that trading has to be emotionless, and the more greedy you are, the more you will lose. For that reason, I am not overly bothered about jumping into another trade, especially one where the trade is on a shorter timeframe where I am not prepared to sit in front of the charts waiting for something good - or bad to happen.
From this, the option 2 is the prefered solution. We will wait until a good trade comes our way. This system will make money regardless if we have to wait 100 more days for them to change (which lets face it, it won't happen). This was shown with my earlier analysis on the USDCAD pair, where, if I had not been so focused on the EURUSD pair we actually traded, We could have been up about 500 pips by today (although I think we would have been stopped out at during one of the previous days...). Out of two trades - one actual, and one promised, but not executed, already the system is looking good. I still will not be drawn into believeing that it is foolproof just yet, but the signs are looking promising at the moment.
Anyways, here's to a good weekend, and let's hope that next week we can get even more winners as the markets hit their peaks and bottoms and start to look to change (of course, in this climate, who can say if that will happen?....... ok My strategy can ;-) )
Looking at the charts, most of them seem to be trending quite strongly, which is great for getting on the band wagon, however this does not suit with the trading rules of getting into a trade - all the analysis is off at the moment (well except for one indicator, but I need all of my indicators to line up before I enter a trade - which makes this strategy so powerful). This means that we have 2 options:
1) Look at shortening the timeframe of the charts - I am trading on a 4 hourly time frame, which means that I have lots of opportunity for the trade to go in the direction I want, and also for it to get the maximum profit while at the same time minimising my risk- this marying off the best profit conditions, with either the ndicators pointing to get out of the trade due to sudden movements - this will actually mean we get out before a stop loss is hit, or if it is a slow moving turn in the charts, we simply go to the stop loss and get out automatically.
2) Wait until the markets change.
There is a great book called market wizards, which goes into detail about incredibly successful traders and their ability to ride the highs and lows - it is a really intriguing read (you can get it from Amazon - see the link on the right. The reoccurring thoughts in the book is that trading has to be emotionless, and the more greedy you are, the more you will lose. For that reason, I am not overly bothered about jumping into another trade, especially one where the trade is on a shorter timeframe where I am not prepared to sit in front of the charts waiting for something good - or bad to happen.
From this, the option 2 is the prefered solution. We will wait until a good trade comes our way. This system will make money regardless if we have to wait 100 more days for them to change (which lets face it, it won't happen). This was shown with my earlier analysis on the USDCAD pair, where, if I had not been so focused on the EURUSD pair we actually traded, We could have been up about 500 pips by today (although I think we would have been stopped out at during one of the previous days...). Out of two trades - one actual, and one promised, but not executed, already the system is looking good. I still will not be drawn into believeing that it is foolproof just yet, but the signs are looking promising at the moment.
Anyways, here's to a good weekend, and let's hope that next week we can get even more winners as the markets hit their peaks and bottoms and start to look to change (of course, in this climate, who can say if that will happen?....... ok My strategy can ;-) )
Thursday, September 22, 2011
The profits are coming in and guaranteed
So the EURUSD has sunk again, and we are firmly in profit on our trade, 100+ pips. All this and not risking 3% of our account. With an account of $500 (which i have) I had a stop loss at 150 pips, so this would equate to $15 in real money (as i am only using micro lots - 1 pip = $0.10). It did get a little bit hairy yesterday, as there was a massive jump, but the real point is having firm rules to get in and out of trades is a must.
As of writing, the EURUSD is sitting at 1.35272, and is on a downward trend (although I expect it to bounce back up and then continue it's downward trend further). Due to having a guranteed profit, I want to let my profits run, and especially because the recent trend, and the breakthrough of the resistance says it is going to go lower. This is where having a trailing stop comes in very handy. The trick is choosing by how much you let it trail to allow enough room for you to get more profit, without losing all your gains. I have my own rules, and expect there to be more to be had out of this trade.
I could have been in another trade on the USDCAD, but missed the boat through one reason or another, so we missed out on that. Not the worst thing to happen as there will be more trades. The first and most important thing is to be making money, and this has been achieved in this trade.
Heres to some more profit in the next couple of days!
Happy trading!
As of writing, the EURUSD is sitting at 1.35272, and is on a downward trend (although I expect it to bounce back up and then continue it's downward trend further). Due to having a guranteed profit, I want to let my profits run, and especially because the recent trend, and the breakthrough of the resistance says it is going to go lower. This is where having a trailing stop comes in very handy. The trick is choosing by how much you let it trail to allow enough room for you to get more profit, without losing all your gains. I have my own rules, and expect there to be more to be had out of this trade.
I could have been in another trade on the USDCAD, but missed the boat through one reason or another, so we missed out on that. Not the worst thing to happen as there will be more trades. The first and most important thing is to be making money, and this has been achieved in this trade.
Heres to some more profit in the next couple of days!
Happy trading!
Wednesday, September 14, 2011
The first currency pair to look at
Well, I know that I have just posted the first blog, but time waits for no man.
The first currency trade is almost set up. This is on the USDCAD currecny pair. I am only waiting for confirmation, and then we could be in our first trade. I am also looking at trying to get some easy spot currency widgets on the blog to make it nice and easy for everyone to see what the current prices are- this would give everyone visiting an easy reference guide to when I am in profit.... and I suppose when I am not!
The great thing about this, is that all my results are there for everyone to see, and hopefully in the future, if I were to sell the strategy, I will have lots of backed up 'live' results for everyone to see.
Happy days!
The first currency trade is almost set up. This is on the USDCAD currecny pair. I am only waiting for confirmation, and then we could be in our first trade. I am also looking at trying to get some easy spot currency widgets on the blog to make it nice and easy for everyone to see what the current prices are- this would give everyone visiting an easy reference guide to when I am in profit.... and I suppose when I am not!
The great thing about this, is that all my results are there for everyone to see, and hopefully in the future, if I were to sell the strategy, I will have lots of backed up 'live' results for everyone to see.
Happy days!
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