Systematic FX Trading Journal

Thanks.

Weekly Overview

EURUSD

EURUSD price sitting just slightly above the 38.2% fib retracement area as well as the 200EMA. It will be important to see whether this resistance will hold or will the daily open be above this level. Directly below that 38.2% area is support existing in the 1.2380-1.2390 areas in the form of a major down sloping trendline. If price does fall below that level we have two trend lines forming a triangle pattern with support existing at 1.2280-1.2290. The resistance areas important to us includes areas just at the high of Fridays bar in the 1.2580-1.2590 region in the form of an intermediate term upward sloping trend line. Otherwise we have resistance at the 50% fib retracement mark which is in the 1.2710-1.2720 region.

Here is a chart:

eurusdsep4daily.gif
 
Quote from mahras2:

FX

Done for the week. I dont like to have positions open for the weekend I have closed all positions. Yesterday, wasn't the best day for trading currencies as they were more or less directionless. The 5 pairs I added yesterday didn't help either as I got hit with losses on them. On the intermediate timeframe I gave back some of the winnings on the positions as the stops kicked in. Did initiate a EURJPY postion however that was closed out by the logic. I am going to reduce my leverage on the shorter term trades as my current level I believe is too high for my account. Therefore, instead of 2 mini lots traded currently I will begin trading one mini lot for the shorter term trades. Everything remains the same for the intermediate term ones.

Total P/L (since starting Journal): $679.27
More...

Where do you place stops?
 
Typical stop lies around 70-90 pips with a trailing stop based upon pairs in place. This is for both of the systems. Keep in mind I have exit criteria in place which often gets me out.

An update: I have decided to put in 1.5K more into another FX trading account so that I can trade the fixed second system. So from now returns will be presented for System I and System II. I am also looking to cut back on my equities exposure after the MUSAW trade is completed.
 
Okay IBFX is retarded. I am seriously considering a switching. Today most pairs showed gaps of over 200 pips-500 pips. One of my systems entered a long GBPUSD at 1.7840. Had a 540+ pip profit due to the mispricing. Of course inter-bucketshop-fx decided that they wont honor any profits made due to their problems. Now if I had a problem would they do such...hell no.

I am considering a switch to Currenex. Guess have to convert all programming into excel now.

I have decided to not trade my second account with IBFX anymore. Switch over to some other good broker as I begin getting these programmed in excel.

I have shut off all trades until the historical data is fixed as it seriously screws up all indicators in place.
 
Quote from mahras2:

Typical stop lies around 70-90 pips with a trailing stop based upon pairs in place. This is for both of the systems. Keep in mind I have exit criteria in place which often gets me out.

An update: I have decided to put in 1.5K more into another FX trading account so that I can trade the fixed second system. So from now returns will be presented for System I and System II. I am also looking to cut back on my equities exposure after the MUSAW trade is completed.
More...

OK, but what exit criteria?
 
Loss of momentum, reversal of trend, trailing stop. Any of the above three.

No positions today and possibly no positions tomorrow. Going to wait until all the high/low data on IBFX is fixed as it causes anomalies in the indicators used.
 
Equities

A good one way street for the indices today. However, a few of my positions got their stops hit which I am not very happy about. TKO had its first pull back after an almost straight up 28% move. Out at 4.35 for a 24.64% profit. I will look to enter it again soon. WFSI got hit by its stop loss I set at breakeven. It was downgraded today and took a small hit. Out at breakeven with a loss of 14 bucks (commissions). I will look to enter it again if it breaks the high it made after I entered. MUSAW appreciated nicely today. I am however displeased with the performance of my portfolio as it wasn't keeping pace with the runup the broad indices had today. Oh well cant win always.
School starts day after tomorrow for me so I will slowly liquidate out of my equity positions to make it much more low maintenance. I may move the cash I have into FX and have it systematically traded.

Return Equities: +9.28%

FX

No trades made. Will start the systems up after 5 PM today. Data on the weekly charts are still not fixed. Hopefully the broker will have it fixed by then.
 
You must log in or register to reply here.
Back
Top