bakedbeans' learning journal

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EUR/JPY update

Price retraced up into congestion zone late Friday, then gapped lower on Monday, pushing down from circa 158.15 down to a low of 156.56 before retracing.

I took 1/3 profits at 157 and looking to re-enter short again at circa 157.85.. stops above prior congestion zone circa 158.68.

I'm finding the slowness to be helpful - I know we can't travel large distances quickly so my expectation is that things will take time to work out, time to retrace, time to form further patterns.

2023-09-12-EURJPY.jpg (131.85 KiB) Viewed 1197 times

Still looking for larger longer term targets (154, 152) but also wanting to work a fraction of my position as price consolidates, retraces, etc.

I'm trading a small live GBP account with Oanda.. for this swing trade and the financing costs are very high:
A 28,000 unit trade (~quarter lot), running from 17th Aug to 12th Sept has cost me GBP 52.19... I ought to shift that money into futures and trade the majors on CME, following Igazi's approach of allocating capital to each instrument and treating each as a separate line of business.

[bb01100100]

Update on Bulenox eval account (which I haven't traded for a while)

Net +0.32% for the day, +0.91% cumulative; target 6%. No rush.
Trading ES late US PM session; was offside most of the time, expecting a push higher into the close, which worked out. Not my best work, but banked.

[aliassmith]

Update on Bulenox eval account (which I haven't traded for a while)

Net +0.32% for the day, +0.91% cumulative; target 6%. No rush.
Trading ES late US PM session; was offside most of the time, expecting a push higher into the close, which worked out. Not my best work, but banked.

I had a few Bulenox accounts. I did get rid of them to focus on Apex. If you aren't trying to do several accounts at the same time they are fine. Their PA fees are kinda high for bigger accounts.

Slow and steady like the tortoise and you can make some money with them. 1 account + 1 acc +1 acc etc.

[bb01100100]

Update on Bulenox eval account (which I haven't traded for a while)

Net +0.32% for the day, +0.91% cumulative; target 6%. No rush.
Trading ES late US PM session; was offside most of the time, expecting a push higher into the close, which worked out. Not my best work, but banked.

I had a few Bulenox accounts. I did get rid of them to focus on Apex. If you aren't trying to do several accounts at the same time they are fine. Their PA fees are kinda high for bigger accounts.

Slow and steady like the tortoise and you can make some money with them. 1 account + 1 acc +1 acc etc.

I keep looking at Apex, but will stick with a single large Bulenox account for the time being. When I pass, I might use that to fund something at Apex.. in the meantime my monthly fee for Bulenox is low (I got a 90% discount during one of their previous sales).

[bb01100100]

Bulenox eval account update:

+0.40% for the day, 1.32% cumulative, target 6%. Getting over the 1% mark helps make the 6% target look more achievable.

Today I was on better form - made some 4 lot trades, got stopped out for less than I made, then positioned for a push higher into the close with 2x 4 lot entries and banked again.

[bb01100100]

EUR/JPY swing trade update

I'm losing confidence in this trade - I took partial profits as per previous update; then entered again on a retrace higher, but was stopped out of that (aggressive) entry.

I have my stops in place, we haven't closed above the prior swing high, but I failed to consider the whole position when we pushed up out of current consolidation area...

2023-09-13-EURJPY.jpg (71.47 KiB) Viewed 1123 times

We're nearly at midweek, so let's see how the rest of the week plays out.

[aliassmith]

Update on Bulenox eval account (which I haven't traded for a while)

Net +0.32% for the day, +0.91% cumulative; target 6%. No rush.
Trading ES late US PM session; was offside most of the time, expecting a push higher into the close, which worked out. Not my best work, but banked.

I had a few Bulenox accounts. I did get rid of them to focus on Apex. If you aren't trying to do several accounts at the same time they are fine. Their PA fees are kinda high for bigger accounts.

Slow and steady like the tortoise and you can make some money with them. 1 account + 1 acc +1 acc etc.

I keep looking at Apex, but will stick with a single large Bulenox account for the time being. When I pass, I might use that to fund something at Apex.. in the meantime my monthly fee for Bulenox is low (I got a 90% discount during one of their previous sales).

I would consider how you would trade an Apex and a Bulenox. Would you trade them separately? Will you want to copy trade them. If you want to copy trade consider the software/hardware that you will need.

I tried QuanTower and after I added over 5 accounts it started to not place orders. (Similar happened to two other people) If you want multiples of only 1 firm you can do that with ninjatrader and replikanto add on. I think I've seen you use Sierra charts, Im not familiar with their copying.

[bb01100100]

I had a few Bulenox accounts. I did get rid of them to focus on Apex. If you aren't trying to do several accounts at the same time they are fine. Their PA fees are kinda high for bigger accounts.

Slow and steady like the tortoise and you can make some money with them. 1 account + 1 acc +1 acc etc.

I keep looking at Apex, but will stick with a single large Bulenox account for the time being. When I pass, I might use that to fund something at Apex.. in the meantime my monthly fee for Bulenox is low (I got a 90% discount during one of their previous sales).

I would consider how you would trade an Apex and a Bulenox. Would you trade them separately? Will you want to copy trade them. If you want to copy trade consider the software/hardware that you will need.

I tried QuanTower and after I added over 5 accounts it started to not place orders. (Similar happened to two other people) If you want multiples of only 1 firm you can do that with ninjatrader and replikanto add on. I think I've seen you use Sierra charts, Im not familiar with their copying.

At this stage the idea of a “live” prop firm account that could fund my own larger futures account is what interests me the most.. I’m not aware of any futures prop firms that support multi-day swing trading… I would like the option to utilise different holding periods. CFD firms have swap rates that are very very expensive for weekly holds, as far as I can see.

I don’t intend to do copy trading, unless that is for some sort of family office setup, but that’s getting a little ahead of myself..

As someone who trades far more size than me and also does copy trading, do you think copy trading is a psychological crutch for avoiding coming to grips with the actual size being risked/won/lost? On the one hand I think it’s very innovative, but on the other I wonder if it makes us less robust…

I suppose this is an IF/ELSE list for running a business in the markets: IF prop gets regulated out of existence THEN I’ll trade that futures account I’ve been building up…. IF copy trading software unavailable or not allowed THEN I have the ability to trade a single large account…. IF leverage is slashed, THEN I’ll shift to options…

Hmmm… options… maybe I should think about options as a another vehicle for swing trading… then again theta has a somewhat similar effect as CFD swap on a going sideways trade… I’m going to stop here before I have any more ideas…

[bb01100100]

Bulenox eval account update:

+0.30% for the day, 1.63% cumulative, target 6%.

I saw the market post a new low, twice, which had me down for the day, but I entered and added getting slightly green a price pushed upward back towards the hourly open.

Price congested near the top of a prior swing high, so I positioned myself for a short, exiting on a spike down as we approached 4pm. Glad I didn't push for more as price then moved up, broke the swing high and finished 8 points higher.

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EUR/JPY swing trade update..

We have a rounded top and maybe we'll push down again and made a new swing low.. still in the trade, had added a stop entry short if we push lower.. target for that 1/3 of position is the lowest red line on the attached chart.

2023-09-14-EURJPY.jpg (88.22 KiB) Viewed 1031 times

Stops are not changed.