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JAFI Forex Journal
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JAFI Forex Journal

  #1 (permalink)
Trading Apprentice
Riverside, California
 
Futures Experience: Intermediate
Platform: thinkorswim
Favorite Futures: oil
 
Posts: 7 since Jun 2013
Thanks: 5 given, 1 received

JAFI Forex Journal

Welcome to Jon and Andre's Forex Indicator journal! Here at JAFI we follow 7 major currencies, comprised of 21 pairs.

Our goal is to analyze these 21 pairs, chose the best best charts to trade, and find targets for entry on the daily/4 hour chart that would be good swing targets.

With those entries, we also look for good day trades to take based off of market profile analysis.

So, we scale a day trade into a swing trade and try to take profits along the way.

Profit Taking: The goal for every trade is to have 3 targets.
1. 1/3 on your entry
2. A technical target i.e. trend line, fib lvl, previous day hi/low, 200D, 200 4hour
3. An extreme that would represent asymmetric risk vs reward in the opposite direction (this target does not always get hit, but represents the maximum greed/hold target)

Overall Goals:
1. Execute all trades at predetermined levels
2. Take trades with a minimum/average risk v reward of 1/3-max usually 1/5
3. Use the trend indicator board to select the strongest currencies vs the weakest currencies and trade in the right direction
4. Use News events as a time to pay attention to the market, use the volatility created as an opportunity to enter advantageous trades

Methodology:
Use Technical indicators to provide good areas/zones to pay attention to price action. Then when those targets are active, pay attention to the market profile software which will provide a signal for a good day trade. Take the day trade with a risk 1 to make 3 + enter positions to turn into a swing trade at this location.


Will continue to update!


Last edited by jonkeck101; July 7th, 2015 at 07:57 PM.
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  #3 (permalink)
Trading Apprentice
Riverside, California
 
Futures Experience: Intermediate
Platform: thinkorswim
Favorite Futures: oil
 
Posts: 7 since Jun 2013
Thanks: 5 given, 1 received

News Board and Indicator board


These are the news events that will be monitored this week. Also, the indicators for each pair that are used to help determine the direction each pair should be traded (or not traded)

Attached Thumbnails
JAFI Forex Journal-trade.jpg   JAFI Forex Journal-11655552_10207214079094145_1357041966_n.jpg  
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  #4 (permalink)
Trading Apprentice
Riverside, California
 
Futures Experience: Intermediate
Platform: thinkorswim
Favorite Futures: oil
 
Posts: 7 since Jun 2013
Thanks: 5 given, 1 received

Trades for the week

We are looking to short EUR/USD at the 4hour 200sma and resistance target. Will be paying close attention at this zone and looking for good market profile entries (will update with market profile analysis if the target comes in play). I think this is a key area for the Euro. If we turn bullish here, I have a much higher target (make new highs and test the 200day ma). None the less, I think this is still a valid entry short and needs to be traded. That's why the trades are taken at a risk 1 to make 3. So, I can be wrong 3 times! and still break even!
http://tos.mx/K4ckGS

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This is also another chart I like Eur/aud. There is an AUD news report tomorrow at 18:30 PST. I will be paying attention then to see if we can get a break out trade on this 4 hour chart. I am definately leaning bullish on this based off of the consolidation here at this bracket extreme. It's hard to be bullish Eur atm, but AUD is weak and there is a potential bullish Euro situation.

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Last edited by jonkeck101; July 7th, 2015 at 08:39 PM.
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