19th July – Profiting whilst I work, rest and play. Five wins from six trades = 9R profit

Hello traders,

After returning from a busy few days including a long and enjoyable evening at the London Trader’s Network Social event I was able to sit down this afternoon and take a look at the 6 trades I’d placed early on Tuesday and how they’d fared over the last 48 hours.

Several people at the event asked me to write about the positions I had open whilst at the event so here’s a quick breakdown of my trades.


All the trades were set on Tuesday morning on the 4 hour chart.  They were all currencies that were presently in the STAM 1 environment and provided me with Price Action Based Set-ups.  There was some duplication of trades but I was happy to take them anyway.  The 6 trades (in order that they closed) were EURJPY, CHFJPY, USDCHF, EURAUD, GBPCHF, EURGBP.  I knew I had a busy couple of days ahead including a trip to London so I planned these trades with a set and forget mentality and just went for a 2:1 reward to risk plan on the trades.  I just set the orders, checked they were all correct and then left the market to do its thing. On the charts you’ll see the first purple line is where I got in and the 2nd purple line shows were I got out for either a loss or a profit.


EURJPY was in a STAM 1 Selling environment so when it pulled back I placed an order to sell at 97.01 with a target of 96.51 for a 2:1 R:R trade. Price triggered early Tuesday afternoon and exactly 50 minutes later it had hit target of 96.51 for a 50 pip / 2R / 1% proft . Nice.  I wish all trades were like this. The truth is that they rarely are.


The CHFJPY was not a dissimilar set-up to the EURJPY (which should be no surprise to any experience traders). It was in a STAM 1 Selling environment and I took a trade off a pull back.

Price triggered the short order at 80.76 and like the EURJPY price dropped hard, in fact it got to within 3 pips of my final target before returning all the way and 6 hours later it hit my stop loss for a 20 pip  / 1R / 0.5% loss. As you can see price has since turned back down and would have hit my target had I not used such a tight stop.  Woulda, coulda, shoulda. Next.

So at the end of Tuesday of 6 trades 1 has hit target and 1 has been stopped out.  Come Wednesday morning I took a quick look at the charts and the positions in the morning before I left for a long day in London.  I checked all the stops and targets were in correct order (again) and left the trades to play out.  During my day I didn’t check in on my positions, I just went about my business and left the trades to get on with whatever was going to happen. When I returned home (at nearly 1 am) I had a quick check and two more of my positions had closed.


This pair was also in a STAM 1 environment but to the long-side.  I felt this was the weakest of the set-ups based on the daily chart however it met the rules so I took the trade. I had an order in at 9764 but it didn’t actually trigger till the early hours of Wednesday morning.  When I returned Wednesday evening it had hit its target of 9798 for a 34 pip / 2R / 1% gain. This was lucky as I think the sentiment is moving to the down-side.


The EURAUD has been in a STAM 1 selling environment for some time now and has offered a few beautiful opportunities to trade to the short side. Last week was a bit choppy bit the set-up was still valid so I took it. Short at 1.1932 and then by 1030 on Wednesday morning Price had hits its target at 1.18800 for a 52 pip / 2R / 1% gain.  Now as you can see this pair has continued to drop, in fact going nearly 200 pips past my entry.  Had I been at my desk / office then this would have been one to let run however as I stated earlier I was occupied between Tuesday and Thursday afternoon on other business so I just set tight targets of 2 times my risk. So I’m still very happy with the return.

So by the end of Wednesday I have now had 4 positions close for 1 loss and 3 winners.  Still two positions to go.


GBPCHF has been in a STAM 1 Buying environment for some time and like the other trades when a pull back presented itself I was able to take advantage and join the fray.  I got long at 1.5295…and then price did nothing for pretty much two days. I admit that when I look at the charts  at lunchtime today I was tempted to just close the last two trades down as they were going now-where.  However when the next 4 hour candle closed it was enough to convince me to just leave the trades to play out…and I was lucky I did as price then hammered North early this afternoon and hit my target at 1.5367 for a 72 pip / 2R / 1% gain.


In the same way that GBPCHF has been in a STAM 1 buying environment, the EURGBP has been in a STAM 1 Selling environment for a while now.  When there was a slight pull-back there was an opportunity for me to sell into the dominant trend. I got short at 7850 and like the GBPCHF trade it really did nothing for the next 48 hours until early this afternoon when there was a sudden and hard drop where price hit its final target at 7808 for a 42 pip / 2R / 1% gain.

So 6 trades taken with a total of 5 winners and 1 loss for a total of +230 pips / +9R / +4.5% gain.  Not bad work from nothing more than a bit of patience (to wait for the set-ups) a small amount of management (no more than maybe 1 hour combined over two days) and resisting the urge to tamper and interfere (letting GBPCHF & EURGBP run out).

Hopefully the people at the Traders event last night now have a better idea of how I trade on a day-to-day basis. If you too want to know more about how I trade and how you could learn about such techniques then check out my Lifestyle Trader Day or drop me a line.

Until next time, trade well!


, , , , , , , , , , , , , , , , , , , , , , , , , ,

About FXTraderPaul

A professional Trader and Coach, FXTraderPaul blogs about his adventures from the front-lines of FX Trading. A Trader and educator who can walk the walk as opposed to merely talk the talk!

View all posts by FXTraderPaul


Subscribe to our RSS feed and social profiles to receive updates.

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: