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Posts Tagged ‘Trades’

Variant of Flowscalps – EURUSD

July 6, 2011 Leave a comment

Meat of the trade.

Flowscalp #1: Shorted from 75 to 55

Flowscalp #2 & 3: Shorted from 25 to 05.

Somehow I find myself liking this better. Risk reward is 3:2 compared to meat trades which is 2:1.

 

 

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. 🙂

AUDUSD 5 mins

May 9, 2011 Leave a comment

Quiet Monday. Busted first trade. Crappy day job just craps more on you everyday.

Target @ 1.0705.. 5 pips before round number support.

Time for bed.

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AUDUSD 15 mins (-18pips)

May 9, 2011 Leave a comment

Charts to be posted in later in the day

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AUDUSD 5 mins (+3pips)

May 6, 2011 Leave a comment

Another trade to end the drought and bad streak for week 1 of month 2?

Target is previous swing high, approx 40 pips, 1.5 times of max risk.

Subsequent Update

This is damn ghey. One moment up 30 pips, one moment stopped out for 3 pips.

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EURUSD 5 mins (+50pips)

May 5, 2011 Leave a comment

REALLY hectic week. Have to post trades that are completed instead of the usual Initiation-Subsequent Update style.

Anyway here is one to break the drought. There’re actually a couple of additional losing trades that I’ve not posted yet as the print screens are on my work laptop. Will post when I get the time to later.

Anyway here goes:

This trade I particularly broke the R:R rules quite a bit as you can see the total profit taken was 50 pips. From the chart you can see that the target was set below the swing low. Couple of reasons why I did that.

i) Price was getting close to round number 1.4800;

ii) Late NY session whereby no news, no mad liquidity. Was kinda hoping the momentum will just bring the price eventually to the 00 and rebounce during ECB cash rate release later in the day.

Anyway this R:R was particularly great, achieving more than 2:1 (not considering the fact that I trailed my stop and therefore after trade was initiated and price moved, risk actually was much less than half of reward.)

Food for thought. Trailing stop or fixed stop?? Consider the scenario that you trail, and u get whipped out for 3-4 losers of approx 10~20 pips. Then occasionally you nail a 30~50 pipper. Kinda makes up for 3~4 losing trades.

I believe that with the usage of TS, you will alter your risk significantly even though chances of getting whipped increase. However, once price has moved and you trail by 25 pips, when it whips back and stops you out, is it correct to say that the trend has been invalidated since it has already reversed 25 pips (a considerable amount in intraday scalping)? And since the trend has been invalidated, wouldn’t it be right that you ‘exited’ the trade in that sense instead of not trailing and still risking 25 pips (using fixed stop)?

What do you think?

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AUDUSD 5 mins (-21pips)

May 2, 2011 Leave a comment

First trade of the week.

Target 1.1000, trailing stop of 25. RBA announcement tomorrow morning. What will be in store? With the Aussie hitting all time highs, cash rate hike will probably be shelved till further notice.

ECB interest rate next big thing to look out for in the midst of the week.

Hopefully trading has resumed with all the holidays and all. Time to make some serious pips in pilot month 2.

Subsequent Updates

Hmm. I really can pick the losers eh. Word around is heavy profit taking around 1.1000 and speculating that RBA will cut 25bps from the cash rate.

Lookin at the chart above, the flip side is actually a successful trade. (Price rebounded off ema around 5-ish am).

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