Thread: Trade Plans by EG

I'm under a year old in Currency Market trading. I've been clobbered within the previous 3 weeks of my trading expertise. However, this doesn't detract me from my belief I can still be successful trading currencies.

I have been following a few threads atforexsoutheast.asiaand I am so privileged to have come across this forum which is home to a lot of unselfish people happily sharing their profitable systems.

While analyzing the a variety of trading egies explained, I did some tweaking of indiors within my own and setting up several indiors employed by several traders on one chart. Then I proceeded by analyzing if I could think of a system that unites the entrance and exit signals generated by these various indiors.

You may ask, why in the hell were you clobbered to blowing off your account these past weeks if you have been following threads that clarified profitable systems?

The answer has been GREED and LACK OF DISCIPLINE and MONEY MANAGEMENT Program. All these will be the 3 Grand FAULTS any would be trader needs to do away with.

Looking back at the trades I made, I could see that there were signals and there have been lack of it which I should have considered once I made my entrances and exits from those trades.

So with that as a backgrounder, I have decided to get myself back online and set myself thru the challenge. I don't consider getting successful here as a TEST which I could fail. Butinstead, I consider it a CHALLENGE to Be Successful with No room for Failure.

I will be submitting my trades here to force myself to keep records of the way I trade. My goal is to make my trades profitable at least 70 percent over all. This time I shall adhere to the system I've come up with. Additionally, I shall only open trade positions equal to 10% of my purse. Which by the way will be on a presentation first.

The system may use an overall 30 pip S/L and the TP degree will need to be at least on the positive side. I will follow my trades using a trailing SL only as it reaches 30pips. Prior to this, I will have discretion to close a trade at any positive degree. Then I wait for another sign to go into a new trade.





* the name refers to everything BIG
1. My past - losing big
2. My egy - to adhere to a system and use a money management scheme.
3. My system - which is a combination of individual and systems indiors from systems found in this forum. (thank you to all those who've opened my eyes to them. I will refer to these resources once I write about the system after I achieve my Objective).
4. My vision - which is to be successful.

Now on to the TRADES...

EG - 001
GBPUSD
Input 1.9620
TP = 60
SL = 50

EG - 002
AUDUSD
Input 0.7720
TP = 35
SL = 25

*** when AUDUSD strikes 0.7730 will enter EG - 004 TP=60 SL= 25

Note this is not a signal BUT a record of my transactions.

EG - 003
GBPUSD
Input 1.9629
TP = 60
SL = 50

Originally Posted by ;

10% seems a little high, no?

In any case, best of luck with the new preoccupied attitude...

Innes.

Thank you Innes. 10% is the margin. But I will be using a 30 pip SL overall. So that leaves me about 3% exposure on my own capital.

Trade 1
Pair USDCHF
Date 112706
GMT Time 0058
Trade Short
Price 1.2056
SL 30

Trade 2
Pair NZDUSD
Date 112706
GMT Time 0236
Trade LONG
Price 0.6720
SL 30


Trade 3
Pair USDJPY
Date 112706
GMT Time 0241
Trade Short
Price 115.64
SL 30

On Trade 1, I missed 2 indiors Which Shown a potential long in the short-term. But Trend as sown by indiors is going SHORT.

On Trade 2. Looks like nearing the end of a downtrend in the brief term. Looks like it will soon continue to go up again.

On Trade 3. Presently on the side Short-term. Indiors seem to all agree that it is time for it to come down and resume a downward tendency.

Basically working on the TF: 1H but switching between 4H, 30M and 15M too.

I'll watch your transactions.
On yen trade cautious of your indiors. Watch out for retracements.
I dont track CHF or NZD so good luck on this.
Im hoping YEN to go up using all the gap we had but decent luck.
kthx.

I am changing egy . Trades I am posting I'll use to test for Swing trading and not for intraday trading. I am testing this egy and I don't ADVISE ANYONE to utilize this to their trading. TEST THIS WITH YOUR DEMO ACCOUNT if you're interested. Please be aware that SL levels would look quite significant. However, I expect that in due time I'll be able to adjust this to a level that doesn't tie up a lot of my funds.

The way I will trade this is to see my candlestick charts on the daily,1H and 15M TF. If at anytime I see a potential shift in tendency ( in any profitable position ) dependent on the candlestick creation, then I'd exit that trade and wait for it to get back on the original trend but still maintain the original SL. If I overlook that first reversal where I could have taken a profit, then I will just let my commerce to ride the retracement and let it continue the ride into the original trend.

Since the majority of the trades look Long Term, I would also be shutting the trades totally earlier even though I haven't attained the ultimate TP Levels I've posted .

Anyone who's interested to DEMO data below, let's get rolling.


EURUSD 1.3335
TP 1.3700
SL 1.3200

USDJPY 115.55
TP 1 113.00
SL 117.00

GBPUSD 1.9755
TP 2.0350
SL 1.9630

USDCHF 1.1933
TP 1.1350
SL 1.2000

AUDUSD 0.7881
TP 0.8200
SL 0.7800

NZDUSD 0.6870
TP 0.6975
SL 0.6700

USDCAD 1.1413
TP 1.1800
SL 1.1300

EURGBP 0.6736
TP 0.7000
SL 0.6600

EURJPY 153.68
TP 155.00
SL 152.50

Thanks for trying to discuss transactions and your expertise.
Dont forget to let us know the results of your transactions.
Should you wins. . We would follow you.
Keep up the Fantastic work.

Originally Posted by ;

I am changing egy this ancient.
EURUSD 1.3335
TP 1.3700
SL 1.3200

USDJPY 115.55
TP 1 113.00
SL 117.00

GBPUSD 1.9755
TP 2.0350
SL 1.9630

USDCHF 1.1933
TP 1.1350
SL 1.2000

AUDUSD 0.7881
TP 0.8200
SL 0.7800

NZDUSD

Originally Posted by ;

I'm changing egy this ancient. Trades I'm posting I'll use to check for Swing trading rather than for intraday trading. I'm still testing this egy and I DO NOT ADVISE anybody to utilize this to their LIVE trading. TEST THIS WITH YOUR DEMO ACCOUNT if you are interested. Please note that SL levels would seem very high. But I expect that in due time I'll be able to fix this to a degree that doesn't tie up a lot of my funds.

How I will trade this is to see my candlestick charts on the daily,1H and 15M TF. If at anytime I see a possible shift in trend ( in any profitable position ) based on the candlestick formation, then I'd depart that trade and then wait for it to get back on the original fad but still keep the original SL. If I miss that first reversal where I could have taken a profit, then I will just allow my commerce to ride the retracement and let it continue the ride to the original trend.

Since the majority of the trades seem Long Term, I would also be shutting the transactions totally earlier although I have not attained the ultimate TP Levels I have posted .

Anyone who is interested to DEMO data below, let us get rolling.


EURUSD 1.3335 25
TP 1.3700
SL 1.3200

USDJPY 115.55 6
TP 1 113.00
SL 117.00

GBPUSD 1.9755 44
TP 2.0350
SL 1.9630

USDCHF 1.1933 36
TP 1.1350
SL 1.2000

AUDUSD 0.7881 -9
TP 0.8200
SL 0.7800

NZDUSD 0.6870 -5
TP 0.6975
SL 0.6700

USDCAD 1.1413 -39
TP 1.1800
SL 1.1300

EURGBP 0.6736 -3
TP 0.7000
SL 0.6600

EURJPY 153.68 14
TP 155.00
SL 152.50

I'm using IBFX Demo.
Each Trade being 100 Lots
I like to see the BIG numbers.
So far I'm up by 80,000 USD on Demo. Mind you, that is based on 100 Lots per Trade.

If anybody is using the above mentioned figures because of their DEMO, I'd love it if you let us know of your results.

EG

I am down by 25G about the negative side.

That is how fast this market creates a turn around or retraces.

GBP, EUR, CHF against the dollar have made an intense retracemet within the 1H Candlestick.

JPY, AUD and NZD have created a retracement of roughly half the value of the Entire candlestick.

I am inclined to CLOSE my USDCAD Long Trade in favor of going brief

USDCAD 1.1419
TP 1.1300
SL 1.1550


EG