Precission Trading Account Statement

Precission Trades (last week of may)

Account Details to date:

Trades Taken: 22

Winners: 17 (77.27%)

Total Return: 24.71%

This Weeks Return: 8.01%

Net Pips Gained: 346.5

Avg. Pips/Trade: 16

Avg. Potential Pips/Trade: 35

Avg. Drawdown: 7 pips

Std. Deviation: 7 pips

Intra-Week Trade Update

Going to take my profits off my U/J Long here for +130 pips. Daily 100EMA in the way now.

Still holding out for my E/U Long entry @ 1.3750 region... Getting close, but not quite there.

AUD/USD: entry revised to 0.7700-0.7650, however am not sure if I will take this trade this week.

E/U Intra-Week Entry Revised

As posted at the beginning of the week, I was look to go long E/U @ 1.3850. Price came within 10 pips during London Session yesterday before moving north for 140 pips. (missed it oh well).

I will now look to enter long @ 1.3750 and 1.3700. Hopefully we can reach these levels before the week ends.

Another Precission Trade

I took a short @ 1.3908 Power Level, Then added 2nd position short @ 1.3930.


I closed trade @ 1.3910 for +1.75% gain

Account Gain Today: 4.4%
Total Gain this week: 5.7%
Account Return to Date: 22.10%

Precission Trade Update

Short from Power Level 1.3998, closed 50% @ 1.3980, the remaing 50% of this position hit TP @ 1.3910. (+6.54% or $760)

Went long from Power Level at 1.3908, entry was 1.3903, I was going for +30pips on this one, price got to +20 before reversing (technically if your trading your levels you should take profit here or atleast turn the position into a risk free one, I was riskign excess profits for big gains though)....

Trade closed after price broke 2 spinning bottom candles, these generally mean reversal, but price broke down, so closed trade for a -3.63% or -$452 (note: this was a larger position to my normal position, but I was willing to risk it, as I am usign aggressive MM technique here)

That is ok though, I am up 2.6% for the day today, and was risking profits.

Taking break from the screen, I will not trade short from 1.3908 Power for next 5 hours now, as for me it will be 'revenge' trading.

Good Luck Guys, hope your doing good :)

E/U Precission short @ 1.3998

Nice spike up to the Power Level @ 1.3998, took a short.Covered half of my position @ +16 pips, and moved my SL to -10 pips.

I am now gauranteed +6 pips on this trade.Both power levels worn out now (1.3998 & 1.3968), so I am letting my rest of position run to next power level at 1.3908. Here I will take profits and look to go long.

I Love IT!

Precission Trade for E/U

As always, Green Line is hourly trendline, the rest are POWER LEVELS!!
Waiting for the good setups, will buy @ 1.39-1.13908, got for atleast 30 pips, if not 65!

Yeh baby! back later!!! Lets make some money today!

Precision Trade Update

Here are my precission trades of E/U today, only +12pips captured for 1.5%, but thats ok for a public holiday. Missed out on a potential long from the 1.3968 power level..

Back tomorrow.

USD/JPY Long Taken

Didn't get the best entry in the world but thats ok, longer term trade here, will see how it plays out... Risk:Reward, 1:3.5, and risking only 0.5% account balance on this one, as it isn't 100% perfect setup (little bit of resistance we need to break).

Trade Closed

Closed for +2 pips, can't wait around gotta run. But price action says its good for +15 pips, so if your in, hold on until a reversal candle.

Precission Trade

Shorted @ bounce of 1.3998 Power Level (although i got a bad entry @ 1.3993)

TP will be @ 1.3971 or in 30minutes (as i have errands to run).

I will not trade long from a bounce of the 1.3966 power level now, untill london session.

Note: public holiday today, so we may get some big moves or no moves.. Stay Out if you're unsure!

1st Precision Trade (E/U)

will go long @ 1.3969
SL 22pips
TP 22 pips

Then will look to reverse and go short from 1.3998, target will be decided upon price action at entry.

This weeks Power Levels for Precision Trading E/U

The levels for this week are

1.4157
1.4066
1.4047
1.3998
1.3969
1.3908
1.3844

As always with post trades as they are taken...

Trades for last week May

Will look at taking the following trades sometime during this week (NOTE: These are not 'precission trades' they are normal trades for me, I will post this weeks power levels on E/u later on).

EUR/USD
Buy around 1.3850 or 1.3700
SL ~ 50pips from entry
TP ~ 300-400pips

AUD/USD 1
Buy around 0.7650
SL ~ 40pips from entry
TP ~ 350pips

AUD/USD 2
Buy around 0.7400-0.7450
SL ~ 75pips
TP ~ 500 pips

USD/JPY
look for longs above Hourly 100EMA. and make it a risk free position as soon as possible.

note: These calls are only plans at the moment and may not be actioned depending on price action. I will update here as price moves closer to my areas and as I take the trades.

P.S: AUD/USD long was closed out at the end of last weeks trading session.

A/U Setups

Took a long on AUD/USD last night on one of my sub accounts. There was a nice bounce off the 100EMA on the Hourly Chart. Targeting 0.7900, Where, depending on Price Action I will look to go short.

My short targets will be the Blue Trend Line (derived from the daily lows). This show be around 0.7450-0.7500, Once/if we get there I will look to go long once more with a manual trailing stop, no profit target for that trade at this moment.

Video Journal Entry

Here is a video review of trades taken this week...

http://www.youtube.com/watch?v=4B33Y6G_maE

Next Trade Planned Out

Looking to go Long @ 1.3640-1.3650, with a Profit Target of 1.4000. SL will be around 22 pips from entry once more.

This trade is dependant highly on price action, and I may not take it. If I do I will update the blog, and look to move my SL to Break Even as soon as possible, or take partial profits.

Transaction history for this week so far...

Big Profits Booked

The remaining 2/3 of my position reached TP level @ 1.3746.
Total Gain for this trade was 15.86% or $1606.90

I also took a short from the Power Level @ 1.3753 (this was risky given the high bullish momentum) but I was only risking a fraction of the excellent profits made. Took a -22pip loss on the trade (-1.88% or $220). It was worth the risk.

Account Status: 15.20% return this week.

Done for the day and possibly the week unless a good opportunity comes my way.

Covered 1/3 of position

Covered 1/3 of my position @ 1.3695 for +$380 or 3.8%.
Reason, Pinbar on 15m chart.


Letting the rest run to my TP Level.

Note: may cover another 1/3 of my position @ 1.3720 region.

Trade Update

SL moved to 1.3583 (tight I know, but thats how I trade, with PRECISION). Either way its a gaurenteed winner now.

Profit Target is currently at 1.3750, and will remain there untill New York session where I will review Price Action, and may close all or part of the position @ 1.3700.

If you weren't in this trade, you could still of traded off the Power Levels for some good gains over the past 16 hours.

8 trades taken so far, 6 winners.

A sign from God?

Just got back in from watching Angels&Demons, excelllent movie, I highly reccomend it. Turned on the monitor and price was nicely about to move down to test my Blue Trend Line and 1.3566 Power Level area. Sign from god? haha, who knows...

Anyways here is my trade:

Note my TP is currently @ 1.3740 area (the highest power level for the week)... I "may" take partial profit off @ 1.3640 if i get a chance (I am leaving too many pips on the table), but at the same time, aslong as I am only getting stopped out @ BE, I see no harm in going for the big ones

.Hourly chart looks bullish through my eyes... Lots of upside potential, but we may see a bit off whipsaw on our journey...

Fingers Crossed ;)

Its all about precision

"i would try to wait for 1.3576 to enter... will try and get in the trade at a good price"

Got my entry @ 1.3578. After the first 15m candle that opened & closed below the 1.3566 Power Level, I set my SL to BE+1 and my TP to 1.3536 (and walked away from the screen, had errands to run). TP was missed by only 3 pips "C'est la vie". Stopped for +1pip.

Took a short from the 1.3611 Power Level, Price is too bullish, closed for -4pips when the opportunity came...

In Summary
2 Winners (+23pips & +1pip)

1 Loser (-4pips)

Will try to sit on my hands for the rest of the day 3 trades in one day is enough, however if a good entry off a power level occurs I will take it.

Update

My Limit order to go short @ 1.3534 was executed a few moments after I went to bed. Was stopped out for -22 pips. Price action gave good signs of reversing if I was monitoring the screen (the green hammer, just before the low of +18pips).

Trade #5
Went long off a bounce off 1.3534, entry was @ 1.3539, exited @ 1.3562 for +23 pips.

I also place a pending short order @ 1.3566 Power Level, but have cancelled this, as I want to monitor price action due to an expected spike up through this power level towards the Blue Trend Line.

The blue line is a trendline from the highs on an hourly chart, expecting some resistance there, So this may be an extra reason to short at the 1.3566 Power Level Bounce, although i would try to wait for 1.3576 to enter... will try and get in the trade at a good price, or may miss it all together...

Missed Opportunity...

Was wanting to go long from the 1.3468 power level once more, however the downward movement was capped at a low of 1.3470 (entry missed by 2 pips). I cancelled my pending long order, as I now see this level too risky to go long off again for the rest of the day.

Going to sleep, But have left pending orders @ 1.3534 and 1.3391, Short & Long respectively...

Good Trading All :)

Trade #3

As I stated before "looking to go long of a bounce from 1.3468 power level"...

I entered long @ 1.3471, after a strong hourly candle above this level.

Entry was confirmed by the 15m spinning top/bottom candle. These candles mark indecision in the market and are a sign of a reversal from the previous candle.

Exited at 1.3499, round number psych level.Trade size was only half a normal position (or 50,000units). I will stick to this rule for all breakout trades, and only use full positions on Power Level Bounces.

Summary:
Trades taken: 3
Winners: 3

Next Trade:
Will look to short @ the next power level 1.3534 for a quick 20pips, or go long from 1.3648 again in a few hours time...

Trade Activated

Trade #2


Excellent precision entry off the power level @ 1.3468. Could have easily bank 20pips profit. I was looking at more, so moved SL to Break Even for a free trade, but got stopped out at BE. Will wait till the next trade.

I will probably not short from the 1.3468 power level again for 24hours or so.

Next trade
Still looking to go long @ the 1.3391 Power Level for 20 pips. Or a long off a good bounce opporunity from 1.3468 in an hour or 2 if we get it.

So far 2 trades, 0 losers... stay tuned.

Trading with Precision...

Hey Guys,

Good to be back in the business, so here we go, new project and a new source of income... Trading with Precision using power levels on a 15m EUR/USD Chart.

How it works?

At the beginning of each week I will post some key levels which price will respect on EUR/USD. Set your chart to 15m, and aim for 20pip+ bounces.

Watch my youtube video here to get an idea of how its done.

Here are the levels for this week:

1.3754

1.3643

1.3611

1.3595

1.3566

1.3534

1.3468

1.3430

1.3391

Trade #1

Took a bounce from the 1.3430 Power Level. and netted +22pips.

Winner!

Next trade will be a short from the 1.3468 level, or a long from 1.3391 level.

I will keep this up to date, and will be posting account information at the end of each week.

Watch the youtube video! See how it works, and keep track to learn how to trade with precision!