We had 7 trades on the Mini-Dow simulator early in the session.

Yesterday, there were 30 trades and while it turned out slightly green, it was long, tiring and I broke some rules in the process. When the approach being used is to trade off of the band extremes and the price is trending it becomes easy to take less than strong setups and to want to attempt to get on the trend.

For half of a session 6 -10 trades should be available, considering this approach and that every day anything can happen. This was about about an hour of trading. Shortly after I left the screen there were 2 pretty strong setups.

 

First trade was stopped out quickly, and we got in on the next one                                            which was a better setup and worked. It should be noted that I moved the Take Profit up and we cannot do this indiscriminately

 

 

 

This was the best setup taken. We need to be on the lookout                                                       for these and be ready to take them

 

 

 

The risk of going short here is that that the market was                                                                moving up fast with strong bullish bars. We’ve had some                                                            decent trades when there is a triple “tweezer” type of                                                                  formation

 

 

 

We need to be in these trades quicker.

 

 

 

These were certainly not prime setups, but they worked.

 

 

lately the challenge for my trading has been trading the GBP. Evaluating and continuing to improve. Here is the GBY/JPY and then the Dow. Trading very similarly. I managed to get myself on the wrong side of a couple of Forex trades.

 

 

Analyzing and drawing for the AM session yielded a couple of profitable trades. Round numbers and Bollinger Bands mostly used.

 

 

Sometimes it turns out that price moves against the position, and sometimes there are more points on the table.  In this case GBP moved against the position however it was still profitable. The CAD trade continued to move down nicely after the exit.

 

 

Also- Dow simulator trading update. There seemed to be a delay getting out of a position, first time it was very noticeable. A couple of trades were forced while price was still kind of choppy earlier in the session, and a substantial difference would have been made if a one of the positions wasn’t exited manually. Fear based exit as price was resting on 20 EMA. Perfect example of a trade that given some time would have worked. There was still technical justification to stay in.

Since the entry wasn’t ideal we’d need to give this a chance to see if the 20 EMA lends any support.

 

 

** Simulator **

There were a few profitable trades and then this one which was stopped out.

 

Looking back we can come up with a couple possible reasons for it. However, an important point is that for this approach we need to be careful buying at the top of the band. This is a failed breakout of the 25042 level. Price moved all the way to the lower band, to the tick. Also, on the bar after entry we can start to see the stochastics turning over (lower) again.