Discretionary Spot FX using PASR - Trading Journals | futures io social day trading
futures io futures trading


Discretionary Spot FX using PASR
Updated: Views / Replies:1,435 / 27
Created: by HitTheCity Attachments:1

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 1  
 
Thread Tools Search this Thread
 

Discretionary Spot FX using PASR

  #21 (permalink)
Elite Member
Melbourne
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Forex
 
Posts: 104 since Apr 2012
Thanks: 78 given, 45 received

Trade Idea

Instrument: AUDUSD
Direction: Either
Technicals: Hourly bars currently testing top of descending wedge.
Fundamentals: AUD CPI figures to be released at 11:30am GMT+10
Entry: TBD
Stop: TBD
Target: TDB
R:R: TBD
Summary: If the CPI figures are a miss, I'll go short with a target near the bottom of the descending wedge channel. If CPI figures hit or exceed, I expect a breakout of the channel and will go long.

Reply With Quote
 
  #22 (permalink)
Elite Member
Melbourne
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Forex
 
Posts: 104 since Apr 2012
Thanks: 78 given, 45 received


HitTheCity View Post
Instrument: AUDUSD
Direction: Either
Technicals: Hourly bars currently testing top of descending wedge.
Fundamentals: AUD CPI figures to be released at 11:30am GMT+10
Entry: TBD
Stop: TBD
Target: TDB
R:R: TBD
Summary: If the CPI figures are a miss, I'll go short with a target near the bottom of the descending wedge channel. If CPI figures hit or exceed, I expect a breakout of the channel and will go long.

Well, I'm in short as the CPI figures were disappointing. Got a horror fill so I'm behind the 8-ball a bit, but still feel confident this news should thrust the AUDUSD back towards the bottom side of its channel.

Instrument: AUDUSD
Direction: Short
Technicals: Hourly bars currently testing top of descending wedge.
Fundamentals: AUD CPI figures to be released at 11:30am GMT+10
Entry: 1.02352
Stop: 1.02676
Target: 1.02073
R:R: < 1:1 (not a great R:R due to bad fill)
Summary: CPI figures were a miss, so shorted AUD.

Reply With Quote
 
  #23 (permalink)
Elite Member
Melbourne
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Forex
 
Posts: 104 since Apr 2012
Thanks: 78 given, 45 received



HitTheCity View Post
Well, I'm in short as the CPI figures were disappointing. Got a horror fill so I'm behind the 8-ball a bit, but still feel confident this news should thrust the AUDUSD back towards the bottom side of its channel.

Instrument: AUDUSD
Direction: Short
Technicals: Hourly bars currently testing top of descending wedge.
Fundamentals: AUD CPI figures to be released at 11:30am GMT+10
Entry: 1.02352
Stop: 1.02676
Target: 1.02073
R:R: < 1:1 (not a great R:R due to bad fill)
Summary: CPI figures were a miss, so shorted AUD.

This one didn't work out.

Entry: 1.02352
Stop: 1.02676
P&L: -32.4 pips

Both the technicals and fundamentals seemed to align to make this look like a winning trade. However, the market is about probabilities, not certainties and you can never be correct all the time. I still feel like it was a 'good' trade even though it wasn't a winning trade.

Reply With Quote
 
  #24 (permalink)
Elite Member
Melbourne
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Forex
 
Posts: 104 since Apr 2012
Thanks: 78 given, 45 received

Trade

Instrument: USDJPY
Direction: Short
Technicals: Price bound below big scary 100 figure
Fundamentals: USD Durable goods data due
Entry: 99.382
Stop: 99.491
Target: 99.15
R:R: > 1:2 (not a great R:R due to bad fill)
Summary: Short USDJPY if Durable goods data is a miss

This is a retrospective journal entry. I made this trade after the Durable goods figures were a miss. Price went briefly in my direction but ended up bouncing back, hitting my stop and continuing further. From a rational perspective, I'm not sure why the market reacted in this way, but I'm glad I had a tight stop in place.

Entry: 99.382
Stop: 99.491
P&L: -10.9 pips

Reply With Quote
 
  #25 (permalink)
Elite Member
Melbourne
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Forex
 
Posts: 104 since Apr 2012
Thanks: 78 given, 45 received

Trade

Instrument: USDJPY
Direction: Long
Technicals: Price has been bound below big scary 100 figure
Fundamentals: BOJ meeting today should be a catalyst to at least retest 100 mark and possibly break through. Especially if USD GDP figures are on target later today.
Entry: 99.188
Stop: 98.978
Target: 100.845
R:R: > 1:2
Summary: I'm banking on the BOJ news to be bearish for JPY. I think I got a pretty good entry price. I have my initial target set a fair way off, I may bring that back in depending on how quickly price moves and where it is at before the USD GDP figures are released.

Reply With Quote
 
  #26 (permalink)
Elite Member
Melbourne
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Forex
 
Posts: 104 since Apr 2012
Thanks: 78 given, 45 received


HitTheCity View Post
Instrument: USDJPY
Direction: Long
Technicals: Price has been bound below big scary 100 figure
Fundamentals: BOJ meeting today should be a catalyst to at least retest 100 mark and possibly break through. Especially if USD GDP figures are on target later today.
Entry: 99.188
Stop: 98.978
Target: 100.845
R:R: > 1:2
Summary: I'm banking on the BOJ news to be bearish for JPY. I think I got a pretty good entry price. I have my initial target set a fair way off, I may bring that back in depending on how quickly price moves and where it is at before the USD GDP figures are released.

Ouch. That didn't work at all. I even moved my stop slightly further out just in case we touched below 99.

Entry: 99.188
Stop: 98.85
P&L: -33 pips

I'm really not understanding how the USDJPY is moving right now. I need to take 5 and think before getting in again with this pair, even though I still feel like it should test 100 again today.

Reply With Quote
 
  #27 (permalink)
Elite Member
Melbourne
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Forex
 
Posts: 104 since Apr 2012
Thanks: 78 given, 45 received

Trade

Instrument: USDJPY
Direction: Long
Technicals: Price has been bound below big scary 100 figure
Fundamentals: BOJ meeting today should be a catalyst to at least retest 100 mark and possibly break through. Especially if USD GDP figures are on target later today.
Entry: 99.815
Stop: 98.495
Target: 100.845
R:R: > 1:10
Summary: I'm going again with the USDJPY long. This could make me look really silly after already losing over 30 pips going long on it today, but I feel like this trade is still good with huge upside, I just didn't foresee the price dropping back below 99 before shooting for 100, which caught me out earlier. I'll see how this one plays out then review whether I should have had a wider stop on the first trade or if it's better to have tighter stops that get hit more often before catching a runner.

Reply With Quote
 
  #28 (permalink)
Elite Member
Melbourne
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Forex
 
Posts: 104 since Apr 2012
Thanks: 78 given, 45 received


HitTheCity View Post
Instrument: USDJPY
Direction: Long
Technicals: Price has been bound below big scary 100 figure
Fundamentals: BOJ meeting today should be a catalyst to at least retest 100 mark and possibly break through. Especially if USD GDP figures are on target later today.
Entry: 99.815
Stop: 98.495
Target: 100.845
R:R: > 1:10
Summary: I'm going again with the USDJPY long. This could make me look really silly after already losing over 30 pips going long on it today, but I feel like this trade is still good with huge upside, I just didn't foresee the price dropping back below 99 before shooting for 100, which caught me out earlier. I'll see how this one plays out then review whether I should have had a wider stop on the first trade or if it's better to have tighter stops that get hit more often before catching a runner.

Well, the market has humbled me and made me look and feel like a bit of a muppet. I was so sure the BoJ news would be bearish for the JPY and perhaps in the longer term it will prove to be the case, but the market reacted in a bullish way when the BoJ didn't double down on their previous QE initiative.

There is a lesson here and I'm pretty sure I know what it is, but I'll wait until the end of the trading week to formulate my thoughts and let myself cool off a little bit.

Entry: 98.860
Stop: 98.785 (moved my stop up. That looks like a bad decision. Think I'm going to instigate some harder rules on doing so for next week).
P&L: -7.5 pips

Reply With Quote

Reply



futures io > > > Discretionary Spot FX using PASR

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Trading Spot FX vs. FX Futures with IB? Xyzzy Currency Futures 5 May 5th, 2016 04:13 AM
FX Futures vs Spot FX and Interactive Brokers Jester Reviews of Brokers and Data Feeds 13 December 31st, 2013 03:27 AM
Spot FX vs M6E futures treydog999 Currency Futures 15 September 29th, 2013 03:16 AM
STF discretionary spot Forex system development journal bnichols Trading Journals 292 May 7th, 2013 09:32 PM
Serious Spot FX Trading wiosna Reviews of Brokers and Data Feeds 27 June 8th, 2011 02:46 PM


All times are GMT -4. The time now is 10:28 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-10 in 0.14 seconds with 20 queries on phoenix via your IP 54.221.73.186