Xin’s Independent Currency Trading for 3/16/2016 – Darn Those Canadians!

Introduction to RYZE.Ai:

british-flag

The British Flag

Often individuals send me an email that they enjoy reading my trading adventures online and they would really like to make profits trading currencies but they don’t have the time to learn the skills necessary to be really good at trading. For those people, there is a great software algorithm called RYZE.Ai by Hodo Global. I can show you how this artificial intelligence algorithm, which is fully automated and generates consistent profits, day after day and week after week, can work for you. For more information, please watch the overview videos, read more of my detailed articles, attend a Thursday evening webinar or send me an email and set up a time to talk personally.

Now back to my personal trading:

Morning Wednesday 3/16/2016

Signal 1: British Pound / Japanese Yen (GBPJYP) Shark Pattern

I got in above the entry point on this one because the signal came yesterday and I debated entering it last night and actually left a buy order in at just over 160 overnight, which never filled. However, this morning I decided it hadn’t moved up too much so I went ahead and and scaled into two positions and left a buy order in a little above the original entry point to potentially get the third position. A little later in the morning there was a big pullback in the price and my third buy order filled. Later the rally started again and is continuing this evening. I am keeping my fingers crosses for it to hit at least the first profit target tonight. Time will tell. I am ready for a nice winner here.

GBPJPYiH1-shark-3-16-2016-6am

British Pound / Japanese Yen (GBPJYP) Harmonic Shark Pattern on Hourly Chart on 3/16/2016 at 6 AM

Signal 2: British Pound / Canadian Dollar (GBPCAD)

This signal happened at 1:08 am when I was sleeping. Once again I decided that it hadn’t moved too far (a purely subjective analysis) and took one position. It was getting time to leave and it had move up more so I left having only one position. Plus I was a little worried because this gave me four positions involving the British Pound and I was worried about too many trades with one of the same currencies. So, only one position on this trade.

GBPCADiH1-gartley-3-16-2016-6am

British Pound / Canadian Dollar (GBPCAD) Harmonic Gartly Pattern on Hourly Chart on 3/16/2016 at 5:30 AM

Evening Wednesday 3/16/2016

Results West Texas Intermediate Crude (WTICr1) Shark Pattern

A spectacular winner! This one rocketed through the second and third profit targets today. Unfortunately I didn’t personally get into this one because I tried to save 5 cents on the order. Penny wise pound foolish as the saying goes. I am still kicking myself even more now.

.WTICrudeH1-Shark-3-16-2016-759pm

West Texas Intermediate Crude (.WTICr) Harmonic Shark Pattern on Hourly Chart from 3/16/2016 at 8 PM

 

I missed out on a nice trade by trying to finesse 5 cents. This is the whole purpose of why I get my three positions as three different entries. Buy the first position and see how it moves and then get the second position and see what happens and then get the third position. I should have gotten the first position at 5:00 AM if not 3:00 AM and then tried to get a better price on the second entry. This inaction and over thinking of the trade cost me the trade. I have no loss, but I certainly have the missed opportunity of missed profits.

What I should have:

Position 1: Entry 37.80 Exit 38.61 for a net of 81 pips which at a lot or .1 is $.10 per pip so a profit of $8.10

Position 2: Entry 37.80 Exit 38.92 for a net of 112 pips or $11.20

Position 3: Entry 37.80 Exit 40.23 for a net of 243 pips or $24.30

So, without my mistake of trying to finesse the entry, I would have made $43.60 on my tiny lots.

What I have instead: A degree from the school of hard knocks. 🙁

Results Signal: Gold / US Dollar (XAUUSD)

This XAUUSD signal was originally from Thursday evening of last week. If you recall last night, we had hit the first two profit targets and were very close to the third. To protect my profits, I set a relatively close stop. Today they was a giant pullback and it hit my stop. The good news is I protected most of the profit. Good job Xin! Pat yourself on the back!

XAUUSDiH1-DeepCrab-3-16-2016-744pm

Gold / US Dollar (XAUUSD) Harmonic Crab Pattern from 3/16/2016 at 8 PM

Position 1: Entry 1272.52 Exit 1265.36 for a net of 716 pips or $7.16

Position 2: Entry 1272.40 Exit 1259.86 for a net of 1254 pips or $12.54

Position 3: Entry 1272.16 Exit 1236.00 for a net of 3616 pips or $36.16

716 + 1254 + 3616 = 5586 pips or $55.86 🙂

XAUUSDiH1-Crab-3-15-2016-7pm

Gold / US Dollar (XAUUSD) Harmonic Crab Pattern on Hourly Chart from 3/15/2016 at 7 PM

 

Results Signal: Silver / US Dollar

If you recall from yesterday, this silver trade had hit two of the three profit targets and had almost hit the third before stalling. I put in a stop last night to protect my profit which was hit today when there was a huge rally.

XAGUSDiH1-shark-3-16-2016-743pm

Silver / US Dollar (XAGUSD) Harmonic Shark Pattern on Hourly Chart from 3/16/2016 at 7 PM

This trade so far:

Position 1: Entry 15.65 Exit 15.50 for a net of 15 pips for a .02 lot that is $.20 per pip, so 15 x $.20 = $3

Position 2: Entry 15.62 – 15.47 = 15 pips once again, so 15 x $.20 = $3

Position 3: Entry 15.58 – 15.35 = 23 pips @ $.20 = $4.60

On this $1,000 account the return would be $10.60/$1,000 = .0106 or 01.06% in less than a week.

Results: British Pound / Japanese Yen

I thought I was going to get stopped out this morning but then the Pound started to rally again. It is up nicely this evening, not quite to profit target one yet. I have raised my stop loss to just above break-even. So, regardless of what happens next, this trade will at least have three small winners and if all goes right, three bigger winners. Lets see what happens overnight.

GBPJPYiH1-shark-3-16-2016-9pm

British Pound / Japanese Yen (GBPJYP) Harmonic Shark Pattern on Hourly Chart from 3/16/2016 at 9 PM

Results: British Pound Canadian Dollar

My misgivings this morning about this trade turned out to be well founded or a premonition. It wasn’t as bad as it could have been since I only had one position, not three. This was a loser of a trade. It’s brief rally reversed and it dropped like a rock until it hit my stop loss. In the chart below you can see the black circle that killed this trade.

GBPCADiH1-3-16-2016-9pm

British Pound / Canadian Dollar (GBPCAD) Hourly Chart on 3/16/2016 at 9 PM

Lessons Learned

Lessons Learned 1: Listen to your gut. This morning I had misgivings about the GBPCAD trade and I only took one position. This one turned into a big loser and the loss was amplified by the fact that I got in higher than the entry point. But, I listed to my misgivings and that saved me too more big losses.

Lessons Learned 2: Protect large profits. When you are have large profits, especially when you have hit the first two profit targets, protect your profits by moving your stop loss. Don’t give up large profits! Just as I did with the Gold and Silver trades above.

Conclusion:

There were a couple signals this morning after I left. These trades had moved enough that I just let them pass by. Regardless of how they turn out, I think this was wise. The GBPCAD trade earlier showed the added risk of loss you are taking when you get in significantly above the entry point on the chart.

I hope you are enjoying my daily trading adventures. If so, please leave me a comment and tell me if you are enthralled, entertained or simply bored with my tales, or however you feel.

People who desire the profit potential but don’t want to learn currency trading see below.

Like I said at the beginning of this article, for additional details on a fully automated, set it and forget it, artificial intelligence currency trading program called RYZE.Ai from Hodo Global , watch the videos below.

RYZE.Ai and Hodo Global Videos

RYZE.Ai and Hodo Global Videos

Click here or on the Image Above for the RYZE.Ai and Hodo Global videos.

Once again, if you have comments or questions, please leave then below or contact me.

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Sincerely,

Xin

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