Lewis Nicolson
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Lewis NicolsonParticipant
I didnt getting involved in the long on AUDCAD as there was no engulf for me.
I managed to get in on gbpjpy right at the top and traded the full down move for a nice 5:1 risk/reward. ๐
I ended up shorting audcad on the 5min crossover last night though because it broke the trendline. Was nice to wake up to it in profit and then running to hit my target at 0.98391. got a 3:1 risk/reward on that ๐ Once it broke resisting on the MOR, i used the retest/support to jump in and short it.
Feel confident again already. I think i was just having an unlucky run.
Cheers
Lewis NicolsonParticipantAlso a simple trend continuation trade. Short on GBPJPY.
Stop loss above at 132.595 if i can. If the market moves away from there too much, then just 1 pip above the next engulf.
Target at 130.357 where major resistance lies, is at the 1.27 fib extension and is 200 pips GAAN level.Cheers! ๐
Enjoy your weekend folks
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You must be logged in to view attached files.Lewis NicolsonParticipantHi,
Long here on AUDCAD. loose stop loss because it is at the turning point of the market.
There is heavy support (arrows) and it is in a position to also bounce off the trend line.Target is back up to the highs where i predict a double top.
Cheers
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You must be logged in to view attached files.Lewis NicolsonParticipantYeh, i think im going to scale back for the rest of august and just practice the strategy. I will post my battleplans etc again so i can see what you think of my analysis.
Cheers ๐
Lewis NicolsonParticipantBeen having a bad run lately. I’m finding that the markets are going the direction i want them to go, however i keep getting stopped out. I’m on an 9% drawdown… I have been down this low before when i was trading a smaller account, and made it back pretty easily. But now I am trading a larger account the emotional side is definitely creeping up on me haha.
I have a feeling that it is cause the summer months are a lot slower. The whole brexit situation certainly doesnt help ๐ฎ hahah
Any tips you might have would be greatly appreciated ๐
Cheers!
Lewis NicolsonParticipantThis actually looks quite fun haha.. going to try it out on a small account and see how i get on ๐
Lewis NicolsonParticipantFinally got to catch up on the webinar. Its good just to go over everything again! ๐
Long EURJPY & AUDUSD today.
Thanks again!
Lewis NicolsonParticipantRoger that.
Looking forward to seeing what happens as well. ๐
Lewis NicolsonParticipantits been pretty breakeven… Im gutted, cause i had a eurgbp short in my battleplan yesterday based off the head & shoulders pattern it had made. luckily i didnt get put into a trade on the first engulf.. and i wish i went in on the 5min cross over, but i tried to wait for a second engulf and then the market ran without me ๐
And the exact same thing for usdjpy, not a single engulf appeared in the morning, i should of used the crossover…
however, still got another week to go…
Lewis NicolsonParticipant0.61% gain for april. I hit a drawdown towards the end of the month. In the first week i smashed a 6.22% gain, but tried to short eurgbp down into 0.77 area but kept getting taken out.
Still, it is still positive anyway. ๐
Enjoy your weekend.
Lewis
Lewis NicolsonParticipantWent to south africa ๐ was running the half marathon! just a bit rubbish with the weather though.. mostly rain and wind ๐ but yeh, it was really good cheers!
Lewis NicolsonParticipantAfter a nice week abroad for easter. payed by this strategy. Looking forward to getting back on the grind ๐
Lewis NicolsonParticipantyeh, i just stayed out of it.. had i stayed in, my eurusd trade would of lost… i only took 7pips on friday hahah.. better than nothing.
I think i need to look into why the news moves the market.. Right now, i just make a judgment purely based on how many bullheads it has on economic calender hahaha ๐
Lewis NicolsonParticipantJust thought i would pop in to say I had another cracking month for feb +6.99% ๐
Currently sitting at 3.86% for march, but i have only took 2 trades and we have a lonnnng way to go haha… and depending on how my long on eurusd & audusd pan out today it is going to change haha.. will be closing them before nonfarm though!
All the best,
Lewis
Lewis NicolsonParticipantEnjoyed reading your traders nest email about wins vs profit. It is something i have not actually looked at too much in terms of statistics, although when my excel sheet does sometimes have a batch of negatives in a one go, im not too bothered, i for some reason kind of assume a winner is round the corner haha.
surprisingly i thought my strike rate would of been higher than this. but since trading my larger account i have made 72 trades and only 26 of those have been winners, 9 have been break even and 37 losers. Very happy with the ROI as well, currently at 14% and i only trade 1% of my account.
Longest string of losers was 7 in a row (split up by 1 break even). longest run of winners was at the start of January at 4 in a row. risk to reward seems to sort this problem out though ๐
So it is probably good to let new people coming into the course to expect losing trades, they happen all the time, more than i realized haha.
Cheers,
Lewis ๐
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