Admin Trading Journal Oanda

Posts: 5114 · #241 - October 02, 2019, 04:14:19 PM

In continuation of my last post about USD-based pairs, USDCHF has started to fall. The big move up earlier was an excellent opportunity for me to reenter some sell trades. The same thing is happening now with USDCAD. It shot up fast and is giving me the opportunity to sell at the same high levels once again.

Also, both USDJPY and USDTRY have both fallen. Again, some of these trades are reentries from similar trades I closed out for profit before. I am still bearish on USDTRY long-term, but USDJPY has fallen hard and once my remaining trades are closed, I probably will not sell this again for a while.

Total profit = +$297.38

Posts: 5114 · #242 - October 03, 2019, 03:07:20 PM

I sold both EURGBP and NZDUSD.

For EURGBP, there was a trend line on the H4 chart that was going to attract price. So I expected price to fall so this could happen. Also, on the H1 chart, there was a trend line that was tested many times. I expected it to fail and price to dump. This is exactly what happened. My TP was at a support level and was easily hit.

For NZDUSD, price was at resistance from above. Also, there was another trend line that had been broke and retested. I expected price to fall at least a little because of this. My plan was to get in and out fast. I closed the trade early before going to sleep because enough profit had been made and I was unsure about this trade. I was right because price came down a little and then went right up thru resistance.

Total profit = +$348.46

Posts: 5114 · #243 - October 03, 2019, 03:14:56 PM

As I expected USDJPY fell hard and all my trades were closed. I am no longer bearish on USDJPY. I will need another trade setup before trading this again. I closed out other USD-based trades. Some of them were reentries of previous trades that were closed out for profit. So they had similar or the same entry prices and TP levels.

I am currently short USDCAD and if USDCHF goes back up to the entry prices of my closed trades, I will sell that again.

Total profit = +$688.77

Posts: 5114 · #244 - October 04, 2019, 01:24:41 PM

I sold AUDCAD earlier. There was a trend line on the H1 chart that looked as if it was going to fail as support soon. Also, price had moved up for a while and some selling pressure was due. One of my trades hit TP and the other was closed early to free up some margin.

Total profit = +$162.23

Posts: 5114 · #245 - October 04, 2019, 01:34:36 PM

I closed out a bunch of USD-based trades since my last post. I am still bearish on USD on a few pairs, as I have posted about before. These trades are reentries of previous trades. The market went up and back down a few times which allowed me to profit multiple times. For example, the USDCHF orders at 0.9985 with TP at 0.9970.

I will keep selling USDCHF and USDCAD until price falls enough and I am no longer bearish.

Total profit = +$981.63

Posts: 5114 · #246 - October 07, 2019, 09:44:39 AM

EURUSD: There is a trend line on the H4 chart which was broke and being retested. TP was set at the bottom of the small range for a fast 10 pips. I may reenter this for some fast profit again if price retraces back up to this entry point since the trend line is still valid.

AUDUSD: There was an ABCD pattern on the H1 TF which indicated a bearish reversal was due. I was already expecting a bearish move soon simply because AUDUSD had been moving up for many candles already. And the current candle especially had a larger than usual move to the upside. There was also up upward trend line which was due to break any time. I do not have the screenshot of that though. So the ABCD pattern was just extra confirmation to enter.

EURGBP: There is a trend line on the H4 TF that broke and was in the process of being retested. I set a pending sell limit order for this. It was later filled. Price went higher than this and seems to be following this line up more. So I entered more sell trades the higher it went and am waiting for it to dump. So I currently have EURGBP sell trades open too.

Total profit = +$532.75

Posts: 5114 · #247 - October 08, 2019, 04:53:32 PM

USDCAD: I have been bearish on this for a while. Long-term I think this has a long way to fall. I have posted about this before in the technical section. I had these trades closed out sooner just to free up some margin. TP was set at the psychological 1.33 level for two of them and I closed the other one manually. I will be reentering more sell trades for USDCAD in the future.

EURUSD: Price was at resistance from a trend line from above. Also, there was a shorter support line that had been broke and was looking like it was about to fail. It was good enough to get in and out fast with 10 pips profit per trade. I do not want to be in EURUSD long-term because it looks like it will have a bullish run any time soon.

USDJPY: There is a trend line on the Daily chart that was broke and being retested. TP was set at the nearest support level and was hit. I will trade this again if price retraces back up to this entry level again.

Total profit = +$556.94

Posts: 5114 · #248 - October 10, 2019, 05:47:37 PM

Since my last post, I deposited $4000 into my Oanda account yesterday because I had drawdown and I wanted to continue trading. I then withdrew the $4000 today after my trades were closed. So I basically made extra money while waiting for trades to close and got my deposited money back in a day's time. My current account balance is $34228.26.

USDTRY: I closed my sell trades because I am no longer bearish on this. Price has broke up past a trend line on the weekly chart. Depending on where that line is drawn, price can be at resistance though. Considering the news about Trump being able to decimate the Turkish economy if they attack the Kurds, and then a day later there are reports of them attacking the Kurds, I think this is too risky to trade. I may actually buy this if price closes the week above this line and I see a pullback down a good amount. I took a loss on these trades, but I made a ton of money over the last several months trading this!

USDJPY: I mentioned in my last post that I would trade this again if I see a bullish retracement. This is what happened. I still have some USDJPY sell trades open currently too.

EURGBP: This resulted in some draw down since my last post. In addition to a previous post, there was an additional support trend line which was waiting to fail. So I was waiting for this to dump and earlier today it started falling extremely hard. All my trades for EURGBP are now closed. I will not trade this again unless there is a new trading opportunity.

USDCAD: I have been bearish on this for a while now. Price was near major resistance on the Daily TF from 2 different ways. Price has been going up and down over and over again. Which allows me to keep trading this. I reenter as price moves up and then set TP's at support levels.

Total profit = +$170.64

Posts: 5114 · #249 - October 14, 2019, 03:42:49 PM

USDCAD: I have been bearish on USDCAD for a while now. Price moved up to a resistance level and I had a pending order waiting. TP was at the the support level and was hit. I also made some quick buy trades. Price was at trend line support. So I planned on getting out quickly, even though I am bearish long-term. I ended up closing these trades early because I thought it was too risky. Had I let them open, they would have hit TP.

USDJPY: I still have sell trades open for this, as I mentioned in my last post. Price has been moving up. So I have been averaging in. I closed one of the trades at a support level to secure profit. I still have more USDJPY sell trades open.

NZDJPY: Price moved up too much and too fast. When this happens, price is likely to retrace down soon. Price was at a good resistance level too. Also, there was a trend line which had a good chance of being tested again. Price would attract to this like a magnet. So I was bearish on this, but I closed early for no profit because I thought it was too risky and I wanted to trade other opportunities. Had I left this open, it would have hit TP.

GBPJPY: Price went up a lot and very fast late last week. So price was likely to fall soon just because of this. Price entered a resistance area too. So I sold near the top and expected a good retracement down.

Total profit = +$1550.36

Posts: 1215 · #250 - October 15, 2019, 12:26:58 PM

Quote from: Admin on October 14, 2019, 03:42:49 PM

Total profit = +$1550.36

very extraordinary your trading results, I want to try the indicator system that you use, can I try it?

Posts: 5114 · #251 - October 15, 2019, 02:12:02 PM

Quote from: Fxortrader on October 15, 2019, 12:26:58 PM

very extraordinary your trading results, I want to try the indicator system that you use, can I try it?

I have been using trend lines and support/resistance levels.

Posts: 1215 · #252 - October 15, 2019, 02:17:37 PM

Quote from: Admin on October 15, 2019, 02:12:02 PM

I have been using trend lines and support/resistance levels.

to determine support and resistance, what time farm do you use, are all TF the same?

Posts: 5114 · #253 - October 15, 2019, 02:25:08 PM

Quote from: Fxortrader on October 15, 2019, 02:17:37 PM

to determine support and resistance, what time farm do you use, are all TF the same?

The time frames are shown in my screenshots. I do not have any set rule for this. In general, I have long-term outlooks for a chart and use S/R levels for entries and take profits.

Posts: 1215 · #254 - October 15, 2019, 02:34:49 PM

Quote from: Admin on October 15, 2019, 02:25:08 PM

The time frames are shown in my screenshots. I do not have any set rule for this. In general, I have long-term outlooks for a chart and use S/R levels for entries and take profits.

indeed long-term trading is very good, thanks for the info, sir. I am also studying trade to make it better and maximum.

Posts: 5114 · #255 - October 16, 2019, 05:01:41 PM

EURNZD: There was a trend line on the Daily TF (red line on H4 chart attached) which was broke and retested. Also, price was at resistance from a line from above (blue line) and there was a trend line (purple) that was touched many times. When this happens, price usually is getting ready to finally break the line or else the line will act like a magnet in the future. So I sold EURNZD and I currently have some more sell trades open which are in draw down. I will post the results of these later after I wait for price to drop.

USDCAD: I am still long-term bearish on this. So I saw a good short-term opportunity to sell again. Price went up to a resistance level on the H1 chart. Also, there was a trend line which was tested several times and was looking ready to break. On the Daily chart, a trend line was broke and retested. This was a near perfect trading opportunity with a lot of agreement between different TF's. The TP was at the psychological level of 1.32, but I closed these early because of draw down from other pairs.

USDJPY: I had sell trades for USDJPY open since my last post. Price has been moving up and I have been selling more and averaging in. I am currently in draw down for USDJPY and will post more results later.

Total profit = +$1006.28