FOREX and CFD Trades 12-16 Jun 2017
I had a good week this week. I completed 4 trades and out of these I made 3 winning trades and 1 breakeven trade. There was no losing trade.
I continue to keep my risk 0.5% or less of my account size per trade. Overall I made +3.20% of my account size for the week.
Here were my trades.
GBPJPY (+1.42%)
Setup: Pullback trade to role reversal S/R level in a bear trend on H4 chart
Entry: Sell 140.849 SL 141.20 TP 139.10
Exit: 139.472 and 139.451
GBPJPY was in a bear trend on its H4 chart when I made this trade. I entered short on 9 Jun 2017 at 140.849 after a pullback rally to a role reversal S/R level. I placed my SL at 141.20 and TP 139.10 risking -35.1 pips with a potential +174.9 pips reward for a 1:5 risk/reward ratio. I could have achieved the full reward had I not micro managed it.
After a down move that just missed my TP target, I exited manually on 12 Jun 2017 at 139.472. The subsequent candle did reach my TP target but I had lowered both my SL and TP such that my remaining units was stopped out on 13 Jun 2017 at 139.451. It was a 4R trade where I made +137.7 pips and +139.8 pips gain against an initial risk of -35.1 pips. However, because I was risking only 0.35% of my account size, I made only +1.42%.
USDJPY (+1.03%)
Setup: Pullback trade to role reversal S/R level in a bear trend on H1 chart
Entry: Sell 110.203 SL 110.55 TP 109.45
Exit: 109.45
USDJPY was in bear trend on its H1 chart when I made the trade. I entered short on 13 Jun 2017 at 110.203 after a pullback rally to its role reversal S/R level.
This was a set and forget trade. My TP was hit on 14 Jun 2017 at 109.45 for +75.3 pips gain. This was a +2.17R trade but because I was risking only 0.476% of my account size I made +1.03% on this trade.
XAUUSD (+0.05%)
Setup: Bottom reversal at support area on H1 chart
Entry: Buy 1264.026 SL 1257.50 TP 1293
Exit: 1264.72
XAUUSD was testing its support area on the H1 chart and formed a bullish morning star candle supported by bullish divergence between price and MACD when I made this trade. I entered short on 13 Jun 2017 at 1264.026. The trade was up by more than 2R after a long bullish candle when I raised my SL to breakeven + 1 just before I went to bed. I was expecting XAUUSD to move further up to my TP target because of the long bullish candle. Instead the trade was stopped out at 1264.72 on 15 Jun 2017 while I was asleep for a more or less a breakeven trade of +0.05%.
On hindsight I should have taken partial profit when the trade was up by 2R since it was against a resistance level.
SPX500USD (+0.70%)
Setup: Trading range within a bull trend
Entry: Buy 2419.8 SL 2412 TP 2442
Exit: 2437.7 and 2430.0
SPX500USD was in trading range within a bull trend when I made this trade. I entered long at 2419.8 when SPX500USD tested the bottom of its trading range on 15 Jun 2017.
I manually exited half my position at 2437.7 for a +17.9 pips gain. I then raised my stop to 1R and my remaining position was closed at 2430 for a +10.2 pips gain. Overall I made +0.70% on this trade.
Disclaimer:
Trading and investment involves risk, including possible loss of principal and other losses. I shall not be responsible for any losses or loss profit resulting from trading or investment decision based on my posting and any information presented in this blog.
I continue to keep my risk 0.5% or less of my account size per trade. Overall I made +3.20% of my account size for the week.
Here were my trades.
GBPJPY (+1.42%)
Setup: Pullback trade to role reversal S/R level in a bear trend on H4 chart
Entry: Sell 140.849 SL 141.20 TP 139.10
Exit: 139.472 and 139.451
GBPJPY was in a bear trend on its H4 chart when I made this trade. I entered short on 9 Jun 2017 at 140.849 after a pullback rally to a role reversal S/R level. I placed my SL at 141.20 and TP 139.10 risking -35.1 pips with a potential +174.9 pips reward for a 1:5 risk/reward ratio. I could have achieved the full reward had I not micro managed it.
After a down move that just missed my TP target, I exited manually on 12 Jun 2017 at 139.472. The subsequent candle did reach my TP target but I had lowered both my SL and TP such that my remaining units was stopped out on 13 Jun 2017 at 139.451. It was a 4R trade where I made +137.7 pips and +139.8 pips gain against an initial risk of -35.1 pips. However, because I was risking only 0.35% of my account size, I made only +1.42%.
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| GBPJPY H4 Chart - Trade #1 |
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| GBPJPY H4 Chart - Trade #2 |
USDJPY (+1.03%)
Setup: Pullback trade to role reversal S/R level in a bear trend on H1 chart
Entry: Sell 110.203 SL 110.55 TP 109.45
Exit: 109.45
USDJPY was in bear trend on its H1 chart when I made the trade. I entered short on 13 Jun 2017 at 110.203 after a pullback rally to its role reversal S/R level.
This was a set and forget trade. My TP was hit on 14 Jun 2017 at 109.45 for +75.3 pips gain. This was a +2.17R trade but because I was risking only 0.476% of my account size I made +1.03% on this trade.
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| USDJPY H1 Chart |
XAUUSD (+0.05%)
Setup: Bottom reversal at support area on H1 chart
Entry: Buy 1264.026 SL 1257.50 TP 1293
Exit: 1264.72
XAUUSD was testing its support area on the H1 chart and formed a bullish morning star candle supported by bullish divergence between price and MACD when I made this trade. I entered short on 13 Jun 2017 at 1264.026. The trade was up by more than 2R after a long bullish candle when I raised my SL to breakeven + 1 just before I went to bed. I was expecting XAUUSD to move further up to my TP target because of the long bullish candle. Instead the trade was stopped out at 1264.72 on 15 Jun 2017 while I was asleep for a more or less a breakeven trade of +0.05%.
On hindsight I should have taken partial profit when the trade was up by 2R since it was against a resistance level.
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| XAUUSD H4 Chart |
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| XAUUSD H1 Chart |
SPX500USD (+0.70%)
Setup: Trading range within a bull trend
Entry: Buy 2419.8 SL 2412 TP 2442
Exit: 2437.7 and 2430.0
SPX500USD was in trading range within a bull trend when I made this trade. I entered long at 2419.8 when SPX500USD tested the bottom of its trading range on 15 Jun 2017.
I manually exited half my position at 2437.7 for a +17.9 pips gain. I then raised my stop to 1R and my remaining position was closed at 2430 for a +10.2 pips gain. Overall I made +0.70% on this trade.
 |
| SPX500USD H4 Chart - Trade #1 |
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| SPX500USD H4 Chart - Trade #2 |
Disclaimer:
Trading and investment involves risk, including possible loss of principal and other losses. I shall not be responsible for any losses or loss profit resulting from trading or investment decision based on my posting and any information presented in this blog.
Very informative blog. I found this blog very informative and provide complete information on what is CFD trading, how it work. Tanks for sharing
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