Monday, 23 May 2011

Ichimoku table for this week

Less tradable pairs then last week. Lots of pairs in the consolidation, but certainly more downtrend pairs then uptrend.

Last week has been choppy, closed some of my trades on BE after + 70, some negative, some positive. Overall small positive.

Monday, 16 May 2011


Ichimoku lined up, short @ 0,8833, SL 88,77 TP around 86.


Ichimoku strategy lined up, entered long @ 1,0311, SL 1,0267, TP open

short GBP/CHF

Ichimoku rule based trade, mentioned in the post below.

entry: 1,4365
S/L: 1,4460
TP: open

Saturday, 14 May 2011

Next week possible ichimoku trades

Hi everybody!

Not much of ichimoku setups at the moment. If this is a correction we could get nice setups in the near future, if the market is turning then it will take more time.

USD/CHF could be a valid short trade somewhere below 0,88.

GBP/CHF - also could be short position around 1,43.

AUD/USD - long trade if price gets around 1,0750.

AUD/CAD long trade if price gets around 1,0350

Wednesday, 11 May 2011

AUD down

Hi guys

trades started great, and today everything crashed. I've exit the trades on positive side, not letting winning trade go into loosing one but not as much as I've planned.

Will update my table now, but no clean setups at sight! Looks like market is turning, lots of pairs are in some kind of consolidation.

Thursday, 5 May 2011

Ichimoku Kinko Hyo

This might be really childlish from me, changing strategies all the time. As I have been writing you, I suffer from unable to adopt rule based trading. My trading has been more intuitive then rule based.

I've chosen ichimoku because it's well known strategy with well known rules, not something I made up myself. It's highly selective, and will enter trades on shorter term TF (30min, 1h or 4h) in the direction of the daily and weekly charts where all mentioned criteria match!

Yesterdays trade was EURUSD long @ 1,4869, exit @ TP 1,4918. during the London session.

Monday, 2 May 2011

Compulsive contrarian behavior

I watched a webinar about trading psychology and it really hit me over the head and totally recognized myself in the presentation of the teacher.

He is talking about a trader, his patient and his own looking on his trading.

Guy says:
1. I consistently pick wrong side of the trade.
2. I let loosers run and cut winners short
3. I'm buying the highs and selling lows.
4. I micromanage the trade.
5. I'm unable to trade with the trend
6. My losses have made me question everything I have done.

This is something I have been doing over and over again. There is a quick test also, so you can check are you compulsive contrarian trader (just count your yes answers)

1. Do you always prefer the road less traveled?
2. Do you often do things the hard way?
3. Do you develop strong directional biases in trading?
4. Do you rely heavily on intuition in your trading?
5. Are you focused on picking tops and bottoms even during strong trend?
6. Do you typically get in too early?
7. Do you regularly average down?
8. Do you tend to get stopped at swing highs/lows?
9. Does a pullback in an uptrend usually feel bearish to you in real time?
10. Does a pullback in a downtrend usually feel bullish to you in real time?

I must say I have 9 out of ten symptoms. Hope you did the test better then me. There are some actions that should be done to reduce that behavior, I'll talk about them in my next post.