28/4 – Trading Wrap (Blog Post #466)

Strategy Development and Results update for 2nd batch

Continuing to trade K7 – trying to find a balance for “not too tight, not too loose”.  I need/want some structure in terms of setups so that I know what I am looking for, to avoid over-trading, and to avoid taking crap setups.  I am trying to identify the things that work for me and then keep them.  This carries on from parts1 and parts2 of the review I did a short while ago.

I have now done 18 trades from the US side of the pond.  Have done 5 winners, 5 scratches, 8 losers and am down 0.91R.   For the second batch as a whole I am down 2.23R after 45 trades – so an implied negative edge of 4.96% (2.23 divided by 45).  The 45 trades have been taken from 16th-28th April.  The average transaction cost for the second batch has been 5.89% thus far.  So am pretty much scratch-trading and my loss is equal to the transaction costs.  Just need to improve a little bit.  Come on George, you can do it!!

Here’s some a copy of some of my development workings/notes:

Apr28 strategy workings

Analysis of some of today’s action….

EURUSD Apr28 (5M) incl T301 and T303

Cable Apr28 (5M) incl T302

300 DAX Apr28

“Amazing Trend Example”

So it’s always nice to spot consistent trends.  Sometimes it is amazing what type of trends can be found.  Have a look at today’s 5M chart of AUDJPY.  The Aussie was strong following RBA’s Stevens declining to comment on the RBA’s monetary policy ahead of the interest rate meeting next week.  The Yen was weak across the board for the whole day.

AUDJPY Apr28 (5M)

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