Saki's Forex Reversal Journal

Quote from sakimonohito:
Open Trades
10kEUR/USD B 1.3259 Stop 1.3320
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Trailing this one rather than exiting at MML 4/8ths...

I'm also trailing my EUR/GBP short from 3 months ago.

Still holding my USD/CHF nightmare, gonna buy some size on the next buy signal and average out on that one.
 
10k GBP/USD B 1.9269 Limit 1.9390+ 121
10k USD/CHF S 1.1515 Exit 1.1484 +29
10k GBP/USD B 1.9048 Exit 1.9176 +128
10k USD/CHF S 1.1623 Limit 1.1474 +149
10k EUR/USD S 1.3412 Exit 1.3410 +2
10k USD/JPY B 104.25 Stop 103.90 -35
10k USD/CHF S 1.1585 Stop 1.1620 -35
10k USD/CHF S 1.1615 Exit 1.1557 +58
10k EUR/USD B 1.3207 Exit 1.3285 +78
10k EUR/USD B 1.3259 Exit 1.3350 +91
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Starting Balance(assume one dollar for each pip):
2000 USD

Closed Balance
2586 USD

Well, in the end, I should have exited with the upper Bollinger-Fibo. But I was speculating on a blow-off top for the holidays. Probably still will make new highs this week, but it won't be on my profit and loss ledger
:mad: :mad:
 

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"Joe is a veteran trader with more than 35 years of solid market trading experience. He is also a dogged and thorough researcher, an internationally recognized lecturer and a widely acclaimed author. His foundation in electrical engineering and economics prepared Joe for exhaustive investigations into Displaced Moving Averages and the creation of his proprietary Oscillator Predictor. In particular, his practical and unique method of applying Fibonacci ratios to the price axis makes him one of today's most sought-after experts."

"Of that which we cannot speak, we must remain silent." Ludwig........
 
10k GBP/USD B 1.9269 Limit 1.9390+ 121
10k USD/CHF S 1.1515 Exit 1.1484 +29
10k GBP/USD B 1.9048 Exit 1.9176 +128
10k USD/CHF S 1.1623 Limit 1.1474 +149
10k EUR/USD S 1.3412 Exit 1.3410 +2
10k USD/JPY B 104.25 Stop 103.90 -35
10k USD/CHF S 1.1585 Stop 1.1620 -35
10k USD/CHF S 1.1615 Exit 1.1557 +58
10k EUR/USD B 1.3207 Exit 1.3285 +78
10k EUR/USD B 1.3259 Exit 1.3350 +91
10k EUR/GBP S .6935 Stop .6960 -25
___________________________________________
Starting Balance(assume one dollar for each pip):
2000 USD

Closed Balance
2561 USD
 
Quote from sakimonohito:

"Joe is a veteran trader with more than 35 years of solid market trading experience. He is also a dogged and thorough researcher, an internationally recognized lecturer and a widely acclaimed author. His foundation in electrical engineering and economics prepared Joe for exhaustive investigations into Displaced Moving Averages and the creation of his proprietary Oscillator Predictor. In particular, his practical and unique method of applying Fibonacci ratios to the price axis makes him one of today's most sought-after experts."

"Of that which we cannot speak, we must remain silent." Ludwig........
More...

Seems to be a smart guy...
 
I finally hit on a trailing stop method to capture the bigger moves while still employing my reversal methodology. It requires I trade at least 20k positions, which is still conservative for my account.

Starting monday--since I missed this weeks buy signals on GBP/USD-- I will employ a 20k position. The first position shall be exited at the MML 4/8ths or the Daimyo reversal pattern. As soon as the first position is exited, I will trail the stop break even and then I will use the trending outer bollinger to indicate when the trendline has been broken.It requires I enter hedges, but this isn't a problem as my broker allows it.
This way I don't have to babysit my positions and trail on a closed bar basis. Once the price has been hit, I'm out.

The logic is so simple, but yet I have missed huge moves this year because I didn't have the vision of the trend in mind. So, now that I've got that sorted. ...

Happy Holidays everyone, here's to a more profitable and peaceful new year!!!

I have attached the chart below indicating my new trailing stop method.
 

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