Classical charting patterns

Discussion in 'Journals' started by GainWeight, Jan 22, 2018.

  1. Started with a small account in May 2017. Did horribly the first 3 months but changed my rules and stopped the bleeding. Since then slowly been tweaking my method and my equity curve has started to recover.
    Ending result for 2017 was -13,76%. Max DD 19,99%.


    I only trade patterns with horizontal boundaries: HS, Rectangle, Right angled triangle, Right angled broadening triangle, Cup & Handle.
    I trade pretty much any and all markets.
  2. Closed trades so far in 2018:
    USDMXN HS. Long -0,06%
    MACK Rectangle. Short -0,41%
    HUM Rectangle. Long -0,81%
    USDCAD Rectangle. Short +1,53%

    Current open trades:
    KEY Rectangle. Long. Partial profits taken, SL at BE.
    UBS Rectangle. Long. Partial profits taken, SL locked in profit
    HAL HS. Long. Partial profits taken. Reached target, trailing remaining position.
    FTSE100 Ascending Triangle. Long. Partial profits taken, SL at BE.
    IP Ascending Triangle. Long. Partial profits taken, SL at BE.
    ALV Rectangle. Long. Somewhat reduced risk.
    MGM Rectangle. Long. Partial profits taken, SL at BE.
    BMW HS. Long. SL at BE.
    mDAX Rectangle. Long. Full risk.
    Last edited: Jan 22, 2018
  3. Very long various stocks atm. Open risk is however less than 2R. Only mDAX remains at full risk.
  4. UBS had an ugly spike down but managed to recover and closed at the high of the day. Advancing my SL to under todays low.

  5. Massive move in HAL today. Moving SL up. Tempting to take some off but I'll stick with my plan to trail it out.

  6. Handle123


    How much % do you take off of partial profits and why? Do you use time management of when you should change target to breakeven plus fees, over staying often becomes losses. Trailing stops usually cuts profits short.

    Good luck
    beginner66 likes this.
  7. I take 1/4 off at 50% to target, 75% to target and at the target and then trail the last 1/4. I do this because I had many trades early on that went some of the way then reversed and stopped me out for -1R. That is also why I decided to advance my stop as the trade progresses.
    The only set rule I have is to move to BE once a trade has gone to the 50% mark. Other than that I try to go by what makes sense according to the price action.
  8. Bought GBPSGD breakout of ascending triangle last night. Price declined during the day but bounced back. Moving sl to below the low of todays bar.

    BMW reached 50%. Took 1/4 off.

    UBS reached target. Took 1/4 off.

    MGM reached 75%. Took 1/4 off.