Ferton's FX Journal

Hi everyone,

just opened 2 new daily-based trades that can be followed in my read-only mode demo account I created for you:

1. <b>SHORT EUR/JPY @ 138.41</b>, stop 140.41, target 135.00
2. <b>SHORT GBP/JPY @ 204.65</b>, stop 207.00, target 200.00 (half the size)

** The other 3 open trads are still working.



Best regards,

David
 
Looks like a reversion to mean system. I hope you're correct on the GBP trade; would like a lower entry into that carry-trade.
 
Hi everyone,

the trade SHORT CAD/JPY @ 98.22 has been closed at 96.99 for a net result of +123. This trade can't be viewed in the "read-only mode" demo account because the pair is not available.

** The other 4 trades are still being held.



Best regards,

David
 
Hi everyone,

the trades:

1. SHORT EUR/JPY @ 138.41 closed @ 138.21 +20
2. SHORT GBP/JPY @ 204.65, closed @ 204.06 +59/2(half size) = +29.5

<i>>> These 2 trades were placed in the read-only mode demo created for your review and so you will find the trades as well as the full report since trades started being placed there.</i>

** I still hold the 2 Usd/Jpy trades.


Best regards,

David
 
Hi everyone,

well, the session ended with 3 out of the 5 trades being closed, and only the 2 usd/jpy shorts @ average in the low 115's are being held at the moment.

What I would like to do now is to explain why the other 3 jpy trades were closed after less than 24 hours had elapsed from their opening time.

The reason behind the 3 trade-closing, despite I can consider they have more downside potential, is no other than improving the enty price on the usd/jpy trades. With a net result of +162 for the day, if we divide that in 2 (2 usdjpy trades), that is a 63 pip better entry price on my jpy longs, which will reduce the trades exposure and will make of them less stressful trades (despite on the daily-based trades I try not to exceed a 4:1 leverage per trade), in the current highly-volatile environment.

I just wanted to put a reasoning behind the actions I am posting here, not just naked trade-posting.

Best regards,

David
 
Hi everyone,


I opened 2 new trades in line with my current favoured scenario for trading and redundant with the favourite pairs at the moment for my own trading action:

1. SOLD GBP/JPY @ 205.06 (half the size)
2. SOLD EUR/JPY @ 134.96 (half the size)

*** Still holding the other 2 Usd/Jpy trades.

The reason behind the half-sized trades is to hold some more bullets in the pocket in case a better price is needed to be obtained for the trades.

David
 
Hi everyone,


more bullets in the market for my current JPY trading:

1 and 2. SHORT EUR/JPY @ 139.96 and 140.17 (half the size both, important to know)

3. SHORT GBP/JPY @ 205.88

** View remains unchanged and so I keep on doing a disciplined and systematic trading with the crosses.


David
 
Hi everyone,

today was a nice trading day, good market activity and especially in the JPY crosses that I am monitoring at the moment.

First, the list of closed trades:

1. CLOSED ALL EUR/JPY positions @ 139.47 (1.5 lots (100k size) in place) for a net result of 27 x 1.5 = +40.5 net pips

2. CLOSED ALL GBP/JPY positions @ 205.17 (1 lot in place) for a net result of +30 pips

3. CLOSED CHF/JPY position (0.5 lot) @ 90.25 for a net result of -10 / 2 = -5 pips

<!>So the net daily result for today was +65 pips, which, apart from increasing my equity, have helped me in what was the pure intention when I opened the trades, to IMPROVE my usd/jpy short entry price. All crosses will go lower, but I am not trading them on a trade-by-trade basis, but only for helping the usd/jpy shorts which is the name of my game at the moment.

NEW TRADE OPENED: SHORT USD/JPY (half the size or 0.5 lot) @ 115.67.

<b>That makes my portfolio on a daily basis (daily-chart based trades)consisting of: 2.5 x SHORT USD/JPY @ avg 115.20 approx naked entry price (not counting profits on other crosses).</b>

**Also remember that I favour cad/jpy shorts for those who may want to give it a shot, target 95.

Trading Results Recap
-Pips since inception (sep 13): +2,326 + 65 = +2,391

David
 
Hi everyone,

opened 3 new half-sized bullets in usd/jpy shorts @ 115.85, 116.28, 116.40, for a total position in my portfolio of:

4 x usd/jpy shorts @ 115.58 average (4:1 leverage now)

I have 2 more half-sized bullets in case they are needed (5:1 maximum leverage), but I am definitely happy with my current entry price, and I am not planning any more bullets at this very moment.

David
 
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