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Consistent Alpha * Long Term Trading

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  • #31
    Hi Alpha,

    You wondering why the NZDUSD trade was closed for 5 pips, as i thought you usual keep the trades open and wait for SL or TP to be hit. Or did you you feel the trade conditions had changed hence closed it.

    Just interested in you approach for this trade.

    Thanks in advance.

    Gunther

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    • #32
      Hello!
      Are the trades still managed?
      We had lost almost all profits on two of three ongoing trades, by not trailing them...

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      • #33
        Originally posted by Gunther View Post
        Hi Alpha,

        You wondering why the NZDUSD trade was closed for 5 pips, as i thought you usual keep the trades open and wait for SL or TP to be hit. Or did you you feel the trade conditions had changed hence closed it.

        Just interested in you approach for this trade.

        Thanks in advance.

        Gunther
        Hi Gunther,

        Looking back at my trade journal, I closed the NZD/USD trade because price rally back up into the entry price and the price structure on the weekly chart isn't convincing enough for me to hold on to the short position. The trade is based on double top formation on the daily chart but on the weekly chart, the trend seems to be reversing and could potentially form a fresh new trend. That's the reason I closed it out at BE but price did decline lower before it rally back up forming a new bullish trend.


        Originally posted by Anton123 View Post
        Hello!
        Are the trades still managed?
        We had lost almost all profits on two of three ongoing trades, by not trailing them...
        Hi Anton,

        Yes, all trades are managed on a daily basis. Although I'm very busy in the last 2 months, I am still able to manage them as usual because I'm trading off the Daily, Weekly and Monthly chart. It takes less than 30mins a day to manage them. I did trail the stop to BE but I gave more room to the price to move because price is consolidating and choppy at that time. It would be easily get chopped out if we trail the stop too close to the price. CHF/JPY trade is an example where trailing stop too soon could cause us to miss the profits. Price just take us out at BE and move on lower. It all comes down to the strategy I employ. Sometime the strategy we employ is in tune with the market while other times the strategy is out of sync with the market. All strategies and markets have their own cycles and we just need to ride them out.



        Sorry for the late reply, I was very busy in the last month. Can't even find time to sit down and switch on my computer but things are getting better now. Feel free to ask if you have any questions.

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        • #34
          Updates for June and July:
          June: +7.29% gains
          July: +6.71% gains

          After 3 flat months with a small 11.64% drawdown, we reverse all the losses in June and make a new equity high in July. I would like to thank those who continue to stay with me throughout the tough times and are making money along with me. Admittedly, it's hard to bear a 11.64% drawdown for most investors and most will eventually give up in the middle as we human loves to have steady monthly profits coming in every month. However the best time to invest is always during a drawdown period but it's hard for most to do so except the few who understand me and my strategy. (I pull in another 19K during the drawdown period can be viewed in my myfxbook)

          There's no changes with my strategy throughout the whole period and the prolonged losses is likely due to the low volatility before the BREXIT and the occasional diverge of my strategy and market. After BREXIT the volatility picked up significantly and we caught some nice trades.

          Despite all the chaos we see in the market, I'm grateful that we are still heading towards my target of 50%-60% annual return. We are now half way through the year and making 34.45% thus far. Hopefully we will sail through the second half of the year safely and reach my target at the end of the year. The next huge event, the election in US is likely to cause some bumps, I will keep myself alert with that and stick to my trading strategy and risk management.

          Wish everyone good luck and good trading.

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          • #35
            Updates for August, September and October:
            August: +5.78
            September: +1.72%
            October: -3.79%

            October wasn't a good month for me as the market keep chopping around and mostly ranging, volume and volatility are lows due to the coming US election. Will keep monitoring the market but most likely won't enter any trades until the election results are out and after markets consumed the result.

            Usually it's a good time to invest in my strategy during drawdown periods. Traders that are thinking of adding a longer term strategy into their portfolio, this could be a good time. I've been adding into my account during drawdown periods in the past and it has served me quite well.

            Wish everyone good luck and safe trading through the US election.

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