nick’s trading lounge

Commentary:

took a dibs short on gbpusd.. but it was premature. there were trendlines in the way that i disregarded.
lost.
then i took a pbj (first pbj live trade) short on eur/jpy that worked beautifully.

so from now on… i’ll only take the dibs and divergence trades that meet the pbj rules of no trendlines or pivots in the way.. restrict them to the best and highest probability trades. i’ll also be trading pbj live.. only 1 lot for now, but i’ll increase as i get more comfortable with it.

___________
Trades:
Short GBP/USD @ 1.7363, -2%
Short EUR/JPY @ 136.01, +1.2%

___________
Results: -0.8%

Commentary:

Came back from vacation on Tuesday. No signals wednesday. Took a few trades today.. Not so great.
Could’ve filtered them out as they werent perfect. The only one that looked nice was the gbp.. took a few pips
before stopping out at b/e.

___________
Trades:
Long EUR/USD @ 1.3520, +0 (failed DIBS, stopped at b/e)
Short EUR/USD @ 1.3480, -1.5% (late divergence trade, should have taken earlier or not at all)
Short GBP/USD @ 1.7189, +1% (dibs trade, took half off at 1 to 1.. other portion stopped out b/e)

___________
Results: -.5%

Commentary:

Boring day.

___________
Trades:
Long USD/CHF @ 1.1318, +0%.  stopped at break/even.

___________
Results: +0%

Commentary:
Tried eur/usd short, not the best looking trade on the 1min.
Probably shouldn’t have taken it.

**
So it seems that when the market is trending hard, I can get away with moving my stop to break-even quickly. However, in a more normal paced market, I don’t think that will prove helpful. I should place the entry,stop, and target and let them play out.. only occasionally managing the trade.

___________
Trades:
Short EUR/USD @ 1.3654, -1.8% - DIBS
Short EUR/USD @ 1.3665, +0% (stopped at b/e) - DIVERGENCE -> this trade was as planned, albeit stopping out.

___________
Results: -1.8%

Commentary:

Bad day on my part. Wasn’t as disciplined as usual. Tried 2 eur/jpy shorts to catch that momentum.. but it was an impulse trade. Only did a very small amount, though, so the loss was a fraction of my average winning trade.. so no big deal. But still.. shouldn’t have happened.

Also tried a divergence long on gbp/usd which didn’t work out. Was after 12pm, so maybe thats part of the problem. I’ll limit my trades to 12pm as originally planned. Setup wasn’t perfect, either. However once it stopped me into the trade, it looked c hoppy, no momentum like usual, so took a small loss. It’s ok. One winner will wipe it all away

___________
Trades:
(eur/jpy impulse trades), -1%
Long GBP/USD @ 1.7413, -1.4%

___________
Results: -2.4%

Commentary:
got into a dibs short on eur/usd with the 1minute chart. now i know im only supposed to trade the 5min… but i’ve noticed when volatility is high.. 1min works just fine. im talking about those moves you see that are relentless. so took a chance on the 1min and it paid off.
[trade monitor]

___________
Trades:
Short EUR/USD @ 1.3798, +2.2%
Short USD/CHF @ 1.1370, +0% (stopped at break even)
Short GBP/USD @ 1.7568, +0% (stopped at break even)

___________
Results: +2.2%