Paper Trades; Monday 20th - Friday 24th September 2010

by KT 17:12 0 comments

Monday 20th

Saw a couple of trades yesterday that proved profitable, missed the signals due to being in work. Having said that, they further strengthen the strategy i'm developing.

Tuesday 21st

Took a trade that missed my profit target by 4 pips and has pretty much gone sideways since, i closed it at break even. Whilst it didn't hit the profit target (of 27pips) it still illustrates what i've been looking for in the setups.

Trade 1 - EUR/USD (Eddie) - Sold @ 1.3128 - 18:20 - Closed @ 1.3128 = break even

• 20 min chart - High volume and no demand
• Black Line = Entry
• Red Line = Stop
• Green Line = Target
  

The charts below show another setup i identified on Cable around the same time as the chart above. I decided to stick with the Eddie trade though. I have two charts illustrating two different entry points with their stops and targets. Both of which were hit.

Wednesday 22nd

Took two trades today, one which hit desired profit target (+33) and the other which i closed early with profit of (+25) totalling 58 for the day. The two pairs were GBP/USD (Cable) and CAD/USD (Loony). The charts are as follows;

Trade 1 - GBP/USD (Cable) - Sold @ 1.5679 -  Closed @ 1.5646 = 33pips

• 20min Cable
• High volume up bar (weakness)
• Went in after the no demand (no demand is 3 bars after, entry point at open of next bar)
• Hit target of +33
  

Trade 2 - USD/CAD (Loony) - Sold @ 1.0325 -  Closed @ 1.0300 = 25pips

• 20min Loony
• High volume up bar
• Entry point at no demand 2 bars after, or even the no demand at the following bar.
• Closed at +25 before target of +38 was reached. (38 was later reached during the night)
  

Thursday 23rd

one trade today, a sell on cable for 26pips

Trade 3 - GBP/USD (Cable) - Sold @ 1.5720 -  Closed @ 1.5694 = 26pips

• 20 min cable
• High volume up bars
• Sold on no demand
• Red = stop
• Black = entry
• Green = target
  

Friday 24th

1 trade today, unfortunately resulting in a loss

• 20 min eddie
• High volume up bars
• Sold on no demand
• Red = stop
• Black = entry
• Green = target

Trade 4 - EUR/USD (Eddie) - Sold @ 1.3409 -  Closed @ 1.3439 = -30pips