Started a new posting area to make my life a little easier :)
December 12, 2011:
Today I'm looking at Nonlag ZigZag as a possible exit strategy. So far I'm marked down the starting point of my trade, and I'm waiting bar by bar until Nonlag ZigZag makes a move. The first move it makes is when I exit.
I have a feeling that strategy my not work to my liking. If the Nonlag ZigZag moves at a per-fractal basis, then this may not work. But, if this Moving Average ZigZag proves different, then I would be a very happy trader.
So far not trades made today.
December 9, 2011:
Didn't make any trades today, apart from a experimental trade (which, by the way, did not work to my liking). The 4 major markets were a bit one directional (apart from the price action when I was asleep... ARRRG!), which is not what my trading system works on (reversals). So today was pretty quite.
I'm thinking of adding more markets to my everyday-trading, just so I'm not sitting around waiting for the 4 majors to make a move. It will require more testing with this reversal system to make sure I can get some, if any, points from those markets.
Pretty good start with this system:
- up 60 points, and
- learned a thing or two about my system
December 8, 2011:
So
far I've made one trade today. There has been a lot of big movements
today with ECB news and MF Globals scandal, so I'm a little reluctant to
make a bigger trades today.
USD/JPY: (BUY)
Entry: 77.449
Exit: 77.479
Profit/Loss: +50
The
price of USD/JPY is continuing to go up: currently 77.676 and climbing.
So it looks like I could have made over 200 points more... might need a
better stoploss/take profit setup.
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Light Sweet Crude Future: (BUY)
Entry: 99.01
Exit: 98.69
Profit/Loss: -32
EUR/USD: (BUY)
Entry: 1.33259
Exit: 1.33352
Profit/Loss: +93
The
Crude Future had a bounce off the SHI Channel, and the other indicators
were saying up, but I failed to notice the direction of the SHI
Channel. If the Channel is downward and the price is looking up...
ignore. I did not see this when I opened, so I decided to close before
if could get worse. It is quite possible that the price will go up, but
if i ignore my indicators, then what the hell am I doing :).
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GBP/USD: (BUY)
Entry: 1.56330
Exit: 1.56430
Profit/Loss: +100
Looks like I'm back in the green from yesterday :).
December 7, 2011:
Made
two trades today using a channeling system mentioned in the Forex-TSD
website, along with my combination of TTM scalper and TMA Price Zone
indicator as a added improvement (or so we shall see...).
EUR/USD: (BUY)
Entry: 7:05am at 1.33797
Exit: 7:54am at 1.33842
Profit/Loss: +45
GBP/USD: (SELL)
Entry: 8:05am at 1.56760
Exit: 11:23am at 1.57006
Profit/Loss: -246
Observations:
- The EUR/USD continued to go up after my exit (close to 400 more points from my close)
- So far the GBP/USD is still in the area where I exited, but it did manage to go down a little further past my exit point (about 50 points more). If the price goes down I'll have to put more confidence in what my indicators are saying
Improvements:
- Need to check the upper timeframes to get the larger picture. This was the case with GBP/USD trade; I made the sell order when the upper timeframes were suggesting a continuation upwards.
- Considering using the 3 Line Break indicator as another confirmation of a change in direction, but for now I think I'm going to stick with the my current setup.
