FX banter

[willoneau]

Looking to see if any traders are interested in discussing currencies as they unfold ?
was great when in front of platform. (fx chaos thread)

Being held accountable might just improve our trading?

 

[willoneau]

I have started this week with a demo account with the aim of becoming a consistently profitable trader and when I have doubled the account going live.
I will be using a KISS strategy with strict position sizing and money management.

 

[willoneau]

I intend to update my starting Capital each day before I place any positions for the day.
As of this morning after yesterdays trading my account was up 2.8%
my Risk per trade is 1% at this stage.
I will be following 6 currency pairs at any one time which may change, this can give me a total possible Risk per day of 6% if I have positions on in each pair.
I will be scaling out of my position as price moves in my direction.

 

[willoneau]

3.4% profits yesterday
trading AUD/NZD, GBP/AUD, GBP/USD, USD/JPY, USD/CHF, EUR/CHF.

 

[willoneau]

GBP/AUD indecision and possible trend change to the long today.

 

[willoneau]

Entered new position in AUD/NZD and moved my open position to SL.

 

[peter2]

I am following along but don't have the time to ask questions and contribute suggestions.

My initial concern is that you may be risking too much per day. Be certain that you're comfortable with the numbers as you may experience a few losing days soon.

 

[willoneau]

Thanx for the reply peter2 will keep informed, suspect that will happen when trend changes direction.

 

[willoneau]

I think when I trade live and Capital increases I will have to lower my Risk size down from 1% per trade. This will help keep my emotions in check.

 

[willoneau]

GBP/AUD indecision and possible trend change to the long today.

I have decided to half my Risk if my S/R line is broken and setup occurs for today in opposite direction.

 

[willoneau]

Short USD/JPY and move open positions to SL.

 

[willoneau]

short EUR/CHF, stop is high than open position at BE so lowered stop to it's position.

 

[willoneau]

Entered new position in AUD/NZD and moved my open position to SL.

Stop hit , closed position.
I will reference return to weeks starting Capital as it changes daily.
return = 0.31% (not including the 1R profit when scaled out to BE)
decided to include all positions, open and recent as complete trade.
So return then is 1.35%
now flat and waiting for setup.

 

[willoneau]

Short USD/JPY and move open positions to SL.

shop hit and position closed,
return = 4.68%

 

[willoneau]

Am currently at BE for USD/CHF from yesterday. watching price move back up to my entry.

 

[willoneau]

Am currently at BE for USD/CHF from yesterday. watching price move back up to my entry.
View attachment 102306

Position closed, return 1.04%
entry risk is 1% the 0.04% is the difference between yesterdays Capital and the 1% risked compared to weeks starting Capital.

 

[willoneau]

short USD/CHF.

 

[willoneau]

short USD/JPY

 

[willoneau]

long GBP/USD

 

[willoneau]

long GBP/USD

close = -1R