Thanks for that Rick,
Very keen to keep an eye on it as I'm hoping to go down the path of swing/LT trend following for any discretionary trades (The EA goals are a bit different).
I was dabbling with it yesterday, a mixture of indicators for me just buying into what I thought was decent price action and probably continuation / breakout (mind you I don't know Fx price action from bar of soap lol, but it seemed to work out okay - I suspect terrible entries underpinned by a move that was occurring regardless of where I threw my darts).
Also I am confident my exposure to too big - I'm curious, could you say how much a pip is worth to you on average? (Or however you measure). As a percentage of your account would give me a better idea of your sizing than $value.
In my trading (below) I range from 155 pips gain on first entry to 65 pips on my last. I'll share all that I did yesterday if it's of interest to people and any feedback welcome! WRT exposure, as I post (@1.67575) my %return is 52% on my capital (~$6k on $11.5k), which just seems nonsense to me so I know I've got it wrong. Trading with 1:100 leverage and the lot sizes you can see below.
Here are my entries (all but the last entry shown).
This is my last entry and what I am currently looking at - I'm seeing a wedge pattern forming which i'm hoping will prove the continuation and breakout again soon, I also see a bit of a rising flag in there, so perhaps the combination of both of these short term patterns underpinned by the longer term view support the continuation.
Here are the actual trades - the lot sizes started 0.1 -> 0.5 then I got carried away adding to the position (this is back to my point above, really not sure what I'm doing this is applying some of my ASX mindset to this environment and not fully understanding the exposure.
All that said, I didn't trade with stops as I kept an eye on it throughout the day (I never trade with stops on ASX), however when I went to bed I set trailing stops @ 15 pips trailing, and they should have been hit overnight, I should have woken up to close position on ~2-3k return but none of the positions closed??? If anybody has any advice on that I welcome it as I'm worried to go to bed again with open positions lol
Cheers,
The lucky new kid on the block
