The day where you get what you wish for…

June 21, 2011 Leave a comment

Hat trick

Trade 1: Early Asian session

Trade 2: Mid Asian session (after lunch)

Trade 3: Did not trade this live but was itching inside, hence I demo-ed it. And it turned out to be successful as well. (Green Box)

EMA 62 held up twice , however I did not make any trades via Shinka#1 strategy. As it turned out, it was a ranging day and the eurodollar just bounced up and down within a 75 pip range, making flowscalping a breeze.

Times like that, going with the flow helps. I realised that to increase probability of success, always be waiting in the direction of the flow. i.e. after TP is hit and price reverses, I will not re-enter again @ 50 unless price returns to the 00.

This train of thought is displayed in Trade 2. (and also Trade 3).

So far my demo account has recorded 8/9 successful flow scalps. The 1 failure being a trade taken on the cable which was merely for fun, peace and laughter. That has allowed my demo to rebounce from a drawdown of -5% to almost 10% gains.

Demo vs Live

What am I doing differently in demo you might ask.

1) I typically trade @ 10 times leverage, i.e. equity x 10 = position traded. But for flowscalp, since the stop loss is 50, I have to half my position to manage my risk per trade.

2) Risk is 50 pips which is 5% of demo account (RED ALERT); on my live account I trade @ 5 times leverage which keeps my risk within 3% of my equity.

3) After I make 25 pips on my live account, I have the tendency to stop for the day. I will only take another trade IF the fundamentals and technicals align. For my demo, well.. I just keep making trades.

At the moment whatever I trade live, I trade on my demo as well. (with the exception that I do not think so much when I setup for a trade in my demo account).

This is my little experiment to see which performs better after 1 month. 🙂

Flowscalp success early Asian hours

June 21, 2011 Leave a comment

Awesome. I merely opened my eyes from my beauty sleep and found that my daily pip target had been met.

Price had hovered around 1.4300 the entire night, setting the limit buy/sell orders like that seem like pretty good breakout strategies. 25 pips TP in less than 1 candle. WoohA~

 

Flowtrade analysis

June 20, 2011 Leave a comment

Small circle: EMA 62 rebounce + 1.4250 rebounce

Large circle: Yet another opportunity for a flowscalp/ema trade.

Observations:

Subsequently EMA 62 fails to hold as resistance.

Possibly due to SMA 200 and the fact that MACD is bullish.

Conclusion:

Before taking flow scalps, consult MACD to increase probability.

TP of 25 pips is really amazing. It may be too little to some, but in actual fact, a fluctuation of 25 pips is really realistic.

Quoting Boris, this is considered “the meat of the trade”.

Longing from 50s to 75s or shorting from 50s to 25s is definitely easy when its in the middle of a strong movement. Strongly agree.

 

 

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Lesson learnt.

June 20, 2011 Leave a comment

Feels great starting the week on a high.

News over the weekend was pretty Euro bearish. With the Greek Finance Minister given the boot and the country being ushered into default, Asia opened USD bullish and hence executing a EURUSD short had high probability of success.

Trading is all about what you know versus what the market knows. Information is king. Knowing means staying ahead. Thinking back… How I went mad long USDJPY when my twitter was ringing none stop with news that BOJ has confirmed an intervention is a pretty good example.

And come to think of it, the reason May was a slump month for me was because I did not check my Twitter as much as I usually did.

Lesson learnt indeed.

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Flow trades execution

June 20, 2011 Leave a comment

Red box = failed trades, green box = successful trades

Shall post more flow trades when they come.

Credits to Boris Schlossberg the flowtrade king~

ISM below expectation

June 2, 2011 Leave a comment

Weak ISM data triggers massive sell off of equities and leading to strengthening of the USD?

Where will NFP bring us this Friday..

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I hate change. But it is inevitable.

May 24, 2011 Leave a comment

Ok may not have traded much, but a lot has changed.

1) Crappy day job’s crappy period is over.

2) Done some reflection and modified trading systems.

3) Will be adding a page dedicated to documenting about systems.

If you thought i had not been trading, you were wrong. And I’ve returned. With a vengeance.

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