Saki's Forex Reversal Journal

Discussion in 'Journals' started by sakimonohito, Jul 2, 2004.

  1. Daimyo is indicating oversold here so I'm out for now.

    Gbp has a way of bouncing like a monster, so i'm booking some profits.

    1) GBP/USD 1.8750 cover 1.8509 +241
    2) GBPUSD S 1.8539 cover 1.8509 +30

    Will wait for convergence with Lower BB bands to be pierced before going long again.
     
    #21     Jul 20, 2004
  2. EUR/USD S 1.2310 cover 1.2231 +79
    USD/CHF B 1.2351 sold 1.25 +149

    Have oversold signals on EUR and GBP am looking to average into long positions here.
     
    #22     Jul 21, 2004
  3. EUR/USD B 1.2230 Limit 1.2477
    GBP/USD B 1.8353 Limit 1.8730
    USD/CHF S 1.2547 Limit 1.22
    AUD/USD B .7131 Limit .7340
    NZD/USD B .6384 Limit .6640

    Trades remaining open still waiting for reversal signals:

    EURAUD B 1.7265 Limit 1.7488
    EURJPY S 133.73 Limit 1.3281
     
    #23     Jul 21, 2004
  4. EURUSD B 1.2131 Limit 1.2430
    USDCHF S 1.2629 Limit 1.2250


     
    #24     Jul 23, 2004
  5. Open Positions


    EUR/USD B 1.2230, 1.2131 Limit 1.2477
    GBP/USD B 1.8353 Limit 1.8730
    USD/CHF S 1.2547, 1.2629 Limit 1.22
    AUD/USD B .7131 Limit .7340
    NZD/USD B .6384 Limit .6640
    EUR/AUD B 1.7265 Limit 1.7488

    Closed Positions
    EUR/JPY S 133.73 Limit 132.90 +83
     
    #25     Jul 26, 2004
  6. Open Positions


    EUR/USD B 1.2230, 1.2131 Limit 1.2477
    GBP/USD B 1.8353, 1.8228 Limit 1.8730
    USD/CHF S 1.2547, 1.2629 Limit 1.22
    AUD/USD B .7131 Limit .7340
    NZD/USD B .6384, .6268 Limit .6640
    EUR/AUD B 1.7265 Limit 1.7488

    On a 4 hour basis, the market is starting to trend again, my system is best for range bound markets. Am trading smaller size as I expect to have to average in to all of these positions again(up to 5 positions)--but as I am not the market, I will still trade my system.
     
    #26     Jul 28, 2004
  7. Open Positions


    EUR/USD B 1.2230, 1.2131, 1.2003 Limit 1.2430
    GBP/USD B 1.8353, 1.8228 Limit 1.8730
    USD/CHF S 1.2547, 1.2629, 1.2746 Limit 1.22
    AUD/USD B .7131 Limit .7340
    NZD/USD B .6384, .6268 Limit .6640
    EUR/AUD B 1.7265 Limit 1.7488
     
    #27     Jul 28, 2004
  8. Open Positions


    EUR/USD B 1.2230, 1.2131, 1.2003 Limit 1.2430
    GBP/USD B 1.8353, 1.8228, 1.8130 Limit 1.8730
    USD/CHF S 1.2547, 1.2629, 1.2746, 1.28 Limit 1.22
    AUD/USD B .7131 Limit .7340
    NZD/USD B .6384, .6268 Limit .6640
    EUR/AUD B 1.7265 Limit 1.7488
     
    #28     Jul 29, 2004
  9. ramora

    ramora

    Hi Saki,

    Why not add a summary of your progress day after day?

    How many pips per currency are you ahead/behind since you started?

    Good trading....
     
    #29     Jul 29, 2004
  10. Hi, thanks for your question. I haven't been summarizing daily as this is not a daytrading system. I am not a big fan of daily mark to market totals. I think this is one of the major causes of early exits and loss of potential profits.

    I will add a point total and loss for each pair from today on though. Please note my drawdowns are rather large. I wanted to post my trades to help minimize this but it seems that any modification with stop losses severly cuts into profits. So I hold over negative balances on a daily basis. Its hard to argue with my profits though. Sure this system doesn't follow the rules of small drawdowns, but my hit rate more than compensates for this.
     
    #30     Aug 2, 2004