GBP.USD & EUR.USD - Proof of Profits Verified

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So to avoid any confusion I have two accounts linked to the myfxbook here in this thread.

1. The systematic account - non discretionary trades where the pending weekly orders are generated by what you might consider to be a bot (although it's a manual process of calculating the levels). I don't always agree with these levels, but i'm going with it.

2. The non systematic account - discretionary trades I place based on personal market analysis. This is me simply playing support and resistance on intraday levels. It's me reading the market to the best of my personal ability.

jsmacksem said:
If you are looking for support/resistance breaks, then a retest, how are you approaching ranges such as GBP right now
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This is quite easy... we can see that GBPUSD is in a c.400pip range from high to low. Since this is the case if we are in the upper quartile then i'm looking for a short where support is broken and retested from the down side. If we are in the lower quartile then i'm looking for a long where resistance is broken and retested to from the upside.

I'll rarely play the mean of the range unless I see a nice transition from S to R or R to S - it does occasionally happen.
 
A poor week in the systematic account with no change this week.

Up 25% in the discretionary accounts since 1st March. Today was frustrating as we missed a TP which would have yielded a 3% gain...jumped out too soon on a retrace but should have held my nerve as it would have paid off in GBPUSD. Ah well.
 
Week 15 of 52 - Trade Levels GBP.USD & EUR.USD

As always these levels are generated by my systematic trading method - regardless of me personally agreeing with them or not.

  • GBP.USD - This week i’m looking for either a long at 1.2977 or a short at 1.3176. This would be an OCO set-up where one cancels the other upon being triggered. In both instances I will be using a 60pip stop and a 120pip TP based on current weekly average ranges. The position size will be 0.32 std lots which represents a 2% of account risk.
  • EUR.USD - This week i’m looking for a short at 1.1257 with a 40pip stop and a 80pip TP based on current weekly average ranges. The position size will be 0.47 std lots which represents a 2% risk of account.

Here is a visual representation of the levels that I'm looking at for next week...

upload_2019-4-6_12-47-39.png
 
So the short order in EURUSD was triggered this morning, currently in negative territory - it's keeping up it's run of screwing with me since March.

However, the short-term resistance level at 1.1270 is holding its ground for now with price hesitating.

Still, with that being said the profit level is at a level which hasn't been touched since June 2017. Basically we're looking for new year lows.

Not confident on this one if i'm honest.

upload_2019-4-8_16-29-52.png
 
It seems as though the EURUSD trade has made a slight move to the downside in the systematic account - still a way to go should it even start to eye the profit level marked out at 1.1163. It's also looking like we are approaching rather strong weekly support at 1.1250, a key risk if not broken to the downside.

upload_2019-4-9_23-21-58.png


...meanwhile, the non-systematic account saw a gain today of around +1% which was driven from a couple of shorts in GBPUSD. Here is a snapshot of the progress in this account which follows my own TA as and when I see most appropriate.

upload_2019-4-9_23-20-49.png
 
So here's a trade where I've essentially leveraged the hell up and put all the gains at risk - but this is why I have a discretionary account, it's the place I go to take over-leveraged trades on positions that I feel are worth the punt. If they work out then I withdraw the profits, if they don't work out then I reload the account. It's basically my place to have fun and take a bet or two whilst not touching the systematic account.

The systematic account is where i'm looking for consistency and low volatility - which happens to be doing shite that past three weeks. But, we know that already!

Lets see how the below trade works out in the discretionary account, it could take a few days to mature, maybe even into next week. Then again, with big Brexit talks in the pipeline and the initial deadline approaching it could all move very quickly.

upload_2019-4-10_18-26-0.png
 
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