No Name Trading System - page 7
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nice one for the update. Eur/Usd is a tough one nowadays.
nice one for the update. Eur/Usd is a tough one nowadays.
Hi Qwertymyfx,
True, specially when there is a huge divergence between 2 of the 3 indicators on the Daily chart.
Cheers,
8-10-2010 Trade
Hello everyone,
Just entered a trade on the EURUSD
Setup: Fast retracement on the 4H time-frame
Position: Short
Entry price: 1.32085
Take Profit: 1.30912
Stop-loss: 1.32485
I have entered the trade and will check tomorrow for the outcome.
Cheers,
8-10-2010 Trade Results
Here are the results for the 8/10/2010 trade above
Setup: Fast retracement on the 4H time-frame
Position: Short
Entry price: 1.32085
Take Profit: 1.30912
Stop-loss: 1.32485
Take profit hit: +117.3 pips
Cheers,
9-2-2010 Trade
Hello everyone,
Just got out of a trade on the EURUSD.
Position: Long
Entry price: 1.28201
Trade setup: Slow Retracement on 4H
Profit target: 1.29011 (Fib level)
Stop-loss: 1.28828 (previous low)
Exit price: 1.28912 (left 10 pips on the table)
Reasons for exit:
1)Was leaving the computer for the day
2) Last day of the trading week
3) Do not want to leave the trade over the weekend
4) Price was close enough to target
Profit: 71 pips.
10-27-2010 Trade
Hello everyone,
Just got out of two trades on the EURUSD.
First Trade:10-26-2010
Position: Short
Entry price: 1.38773 and 1.38573
Trade setup: Trend Continuation 4Hr Chart
Profit target: 1.38000 and 1.38050
Stop-loss: 1.39109 (bar's high)
Exit price: 1.38773 and 1.38573.
Profit: +129.6 Pips (combined)
Second Trade: 10-27-2010
Position: Short
Entry price: 1.37881 and 1.38081
Trade setup: Trend Continuation 4Hr Chart
Profit target: 1.37350 and 1.37400
Stop-loss: 1.38528 (previous bar's high)
Exit price: 1.37467 and 1.37400. (weakness in market and Fib level on 1Hr)
Profit: +109.6 Pips (combined)
Both trades are shown in the attached image below.
I will most than likely take another short position sometime by tomorrow based on the 4hr and Daily chart when price bounces down from 1.38172 or so, we shall see.
These trades were taken on a different account linked with the a contest so my traditional money management rules were bent a bit to accommodate the required high gains. But the trading setups are the same nevertheless. If you want to verify them just send me a PM and I will provide you with the link
Cheers,
No Contest For Me
Hello everyone,
Ok, here is the deal. I decided to opt-out of the contest. I am working hard to maintain my discipline during trading and the contest is making me deviate from my rules and is placing undo pressure on me. With that said. I am going back to my original account and maintaining my trading rules.
I know this may not be important information to everyone, but I am sharing with you my trading journey in this thread (the good and the bad) and if you think this post is useless, then simply ignore it.
The point here is that discipline comes first and foremost, not winning contests with faulty discipline and money management.
Cheers,
good job ,keep up
very well said
Yes , better to show discipline and the proper method. In those trading contests , most are likely to be gambling and those that are 'lucky' are then indicated as good traders.
good job ,keep up
Thank you for the encouragement. I invite you to post your trades if you are utilizing the No Name Trading System.
Cheers,