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  1. #21
    5/20/8 GBP/USD LONG

    Entrance: 1.9705
    Stop reduction: 1.9655
    Take Profit: 1.9805
    Ranking size: 1.5%
    Trade: B /A-

    Prediction:

    Price will rise to the second or first take profit stage on the four hour tunnel. Because I have been cut short recently - taking profit way too premature, I have decided to embrace a trend trader approach and aim for the more powerful moves only, and so take profit in the next exit stage, or further. For better information see my discussion thread.

    The Monthly chart indies a strong downtrend using a recent Pinnochio suggesting that price may continue downwards. Sad to say, the Pinnochio is a B-Grade- that the next eye extended higher than the initial, the center Pin bar is only good, not fantastic. While I think price will last down, the 4 hour chart indies to me that price will split long first before returning to the downward trend.

    The Weekly chart indies a recent, moderatly strong uptrend. There aren't any substantial entry signals on this lengthy time frame. I'm trading contrary to the Monthly, but using the Weekly trend.

    The Daily graph indies the new powerful uptrend mentioned in the weekly. Again, no entry signs.

    The 4 Hour chart shows a TBH! Granted the last bar hasn't closed yet. It appears like price is trying to crack through this new resistance. Because the sole price action is on the 4h time frame, AND since weekly and monthly trends don't concur, this is a B trade at best. I'm risking 1.5%, and setting my take profit in the second 4hr tunnel exit point. Usually on anything less than a trade I'd normally set take profit for the very first exit stage, but I have updated my trading procedure. I have produced a purple resistance line and placed my entry over the TBH.

    Decision UPDATE 5/21
    This position was entered last night or this morning. I have included an updated 4 Hour chart. As you can see there is finally a specific entry signal: Bullish Outside Bar (BOB) bouncing off the 61% fib retracement! If I had been a much better trader I'd have bought in the retrace- now I would be up 100 pips instead of 25 pips, but that's a discussion for the discussion journal.

    Graph 1: Daily
    Graph 2: 4h
    Graph 3: 4h *Upgraded



  2. #22
    5/22/8: GBP/USD LONG

    Entrance: 1.9705
    Take Profit: 1.9805
    Position size: 1.5percent

    Total Profit: $15
    Account size: $500
    percent Account profit: 3 percent


  3. #23
    5/21/8 EUR/AUD SHORT

    Entrance: 1.6445
    Stop Loss: 1.6395
    Take Profit: 1.6625
    Ranking size: 2 Percent
    Trade: B-

    Prediction:

    Depending on the long term trend I Anticipate price to Grow. On the down side- I can't make very accurate predictions of the brief term tendencies at this stage and there are feeble entrance signals. Ultimately, this is not an actual commerce based on my long term trading system- I am entering this transaction according to Stevie's method. I've kept my normal stop/loss method because Stevie's egy requires a much bigger stop than I am accustomed to. Maybe that will destroy this transaction, but till I put the 2% position and see that I will not know.

    The Monthly chart shows an uptrend and dependent on the trendline I expect price to start increasing shortly. There are no strong entry signals on the monthly or Weekly. I am trading with the trend.

    The Weekly chart shows no signals, and just a feeble suggestion that price will start increasing.

    The Daily graph shows the current uptrend. There's a bullish outside bar bouncing off the trendline which suggests a moderate entrance loion/signal. Price appears to be downtrending for the time being, so I've set an entrance above the daily high for May 16th.

    The 4 Hour chart shows no entrance signals.

    This transaction ideally belongs into a new diary, but since I haven't yet established a trend trading account that I shall count this gain/loss within this diary for the time being.

    Graph 1: Monthly
    Graph 2: Daily
    Graph 3: 4h



  4. #24
    5/22/8: EUR/AUD SHORT

    Entry: 1.6445
    Stop reduction: 1.6395
    Position size: 1.924percent

    Total Loss: $9.68
    Account size: $500
    % Account reduction: -1.924percent

    I think this trade is a fantastic concept, but the system and tools are all wrong. My stop loss knocked me out. My reduction ought to be far below the previous day's low, per Steviet's method, and that I haven't completely developed my approach for this new system. I need reliable entry signs, not existing in this trade, and more experience. I have re-placed this trade, per Jacko's method, again with two %. However, this time I'm setting the stop loss per Steviet's method. Let's see whether the outcome differs. Next week I will establish a separate account for these trades.

  5. #25
    5/21/8 EUR/CHF LONG

    Entrance: 1.62120
    Stop Loss: 1.61620
    Take Profit: 1.6335
    Ranking size: 2%
    Trade: B-

    Prediction:

    Based on the long term trend I expect price to Grow. Price seems to be rebounding every week so I expect price to grow this week based on the long term trends. My entrance is quite feeble - I have no entry signals, so this is also a fad trade and so belongs over there. I generated a sub account and will be recording these trend trades, such as gains and loses, in that journal from now on.

    The Monthly chart shows a current strong uptrend and based on the trendline I expect price to continue rising. There are no strong entry signals on the monthly or Weekly. I'm trading with the trend.

    The Weekly chart shows oscillating price during the last couple weeks, implying price may rise within the next week. There are no entrance signals on this time frame.

    The Daily graph shows the current uptrend. Additionally, based upon the long term trend line, along with the pivot point (determined from the previous entrance signal of a quintuple pub high on 4/24/8) that there appears to be a quasi entrance signal (flat upper triangle). This signal is horrible- I don't trust it, but I believe this is a strong trend trade- and want to enter it with Steviet's method.


    The 4 Hour chart shows no entrance signals. There is not a fantastic loion to get into this transaction, and I honestly am not certain where this transaction will go, so I've tenatively place a 50 pip stop on this. I'm still working on developing a fad trading system of my own that I'm comfy with. If price drops farther than 50 pips I had been wrong, at least for the brief term.

    This transaction ideally belongs in a new journal, but since I haven't yet established a fad trading account I shall count this gain/loss within this journal for the time being.

    Graph 1: Weekly
    Graph 2: Daily
    Graph 3: 4h



  6. #26
    5/21/8 EUR/CHF LONG

    Entrance: 1.6445
    Stop Loss: 1.61620
    Position size: 1.962%

    Total Loss: $9.81
    Account size: $500
    percent Account loss: -1.962%

    After reviewing the outcome, and the trade I believe this trade remains valid- I simply need a better position. I am watching this commerce and will reevaluate my entry/exit standards. All additional info on this trade is going to likely be submitted in my new Trend Trading journal.

  7. #27
    Well, after an absence on the forum, and out of trading, I'm back to update my trades, account balance, and separate journals. I have been ill for a few weeks and started a new job recently, so there's been a few changes and trades that I will update in the very first article, as always, and on every new diary. Without further ado-

    Entry: 1.6455
    Stop Loss: 1.6291
    Take Profit: None- that is a trend trade
    Ranking size: 3 percent

    Total loss: $15.87
    Account size: $500
    percent Account reduction: -3.174%

    Post match commentary: This is a trend trade- that I will include images to refresh both our memories. Basically I was hoping to accommodate StevieT's method(s) but did so without a set of rules, entrance or exit instructions. I am still working on this third system, however for further details check the diary. For now this was a trade chocked up into learning, and that I find it far better that it was poorly than well. This way I will not gain confidence in a system that isn't really working yet.

  8. #28
    Entrance: .9465
    Stop Loss: .9425
    Take Profit: .9550
    Ranking size: 1.2percent
    Trade: A-/B

    Prediction: The Weekly price appears to be oscillating- I forecast price will rise once it hits the monthly purple trend line (monthly graph). Based on just that information this would be a trend trade, but I have excellent entrance and exit positions based on the 4 hour information.

    The Monthly chart indies a powerful uptrend with cyclical retraces every two months. This implies that if price hits the trend line (see graph- purple line) it will bounce off and resume it is uptrend. Thus while the current monthly trend is down, the overall trend is up- I'm trading with this trend.

    The Weekly chart shows what appears to be a recent DBHLC (double bar high with a lower close) so indiing the trend will continue . This is the main reason why the transaction is not an A or A . At the current time there is a little uptrend, bouncing off the trendline as I anticipated, but it is unsure where this will go just based off the weekly.

    The Daily chart shows data covered in both the 4h and per week.

    The 4 Hour chart shows TBLHC! (Triple pub low ( a higher close) that is bouncing off of this trendline! I have put an entrance point above the current consolidating price with an initial take profit in the initial 4 Hour tunnel exit point.



  9. #29
    Entrance: .9465
    Take Profit: .9550
    Amount Gain: 13.63
    Account Gain: 2.726percent

    On 6/18 I moved my stop loss up, thus locking in profit and was stopped out.


  10. #30
    EUR/GBP
    Entrance: 0.79230 (50 Percent ), 0.79280 (50 Percent )
    Stop Reduction: 0.7885
    Take Profit: 0.7990

    Prediction:

    The Daily, Weekly and Daily all show a Solid uptrend. I am going with the trend on this trade.

    The 4 and 1 hour charts indie a new pivot point (James16 term) or resistance in 0.7895, suggesting to me that price may breakout from this point.

    Also, there's a pinnochio crossing the 50% fib retracement (from the March 26th reduced ) AND that the 33% retracement (from the March 27th reduced ).

    I predict the price will increase to at least the first 4 hour take profit point.

    Results:

    4/8/8 - 50% shot for profit (1% account gain)

    Graph 1: 4h
    Graph 2: Current Oanda results/position
    Graph 3: 1h



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