Turtle Forex Live Trading Session

Thank you,
I hope you serve the best here.

Live trading session beginning around 7:30…Eying GBP/JPY, EUR/USD, EUR/JPY for possible longs…

I took another shot at the EUR/JPY as I am bullish EUR and bearish JPY and had good success with this pair Thursday. Friday I was not as fortunate, taking two shots for losses of 15.4 and 16.3 pips respectively. A slightly weaker than expected U Mich confidence report (personally was expecting better as well) and some profit taking in the equity market kept a lid on further EUR advance. I was a little tighter with my stops, wanting to trade conservative as I came into Friday +80 pips for the week and was in “protection mode”. If you were in the Live Trading Room, you know that I was expecting some late day bargain hunting on equities that I felt would ultimately push the EUR higher to close out the week and sure enough that’s what we got. However by that time I was out of the market. I did end the week with a winning trade, a USD/CHF short that was a marathon trade that I held till just about 4:00PM EST. I wanted to hold till just before 5:00 (17:00 GMT), but was tired and did’nt want to risk the miniscule 6.7 pips I was up on that trade. Holding out for 1 more hour would have rewarded me with 20 or so more pips…hehehe.

The first week of live trading in the Turtle Forex Live Trading Room netted 62.1 pips and 4% on the Model Account. I had a total of 14 trades with 9 winning trades and 4 loosing trades on the week. Results for this week are posted on the “Model Account” page at TurtleForex.com. I set up this hypothetical Model Account with a starting balance of $2000.00 USD which trades a single 10K lot per trade (about 5:1 leverage) and risks about 1% per trade (around 20-25 pips).

I have to admit I really had a good time with the couple of viewers that joined me this week doing this live “show”. I didn’t know if I would be nervous or feel pressure to win. Surprisingly I was very comfortable and although I wanted to end the week on a high note I had no problem taking my losses and look forward to next weeks opportunities.

Join me Monday-Friday in the Turtle Forex Live Trading Room for live trading, market commentary, some music and even some of my “rants”…hehehehe. Have a great weekend!

Happy Trading!

Joe
TurtleForex.com

Hi all! Hope you had a great weekend. Was busy drawing trend lines when I saw a juicy short on the USD/CHF. Short @ .91532 looking for .9125 to .91115

I may fire up the live video. If you stop by TurtleForex.com, leave a message in the chat. I’ll be working on getting a bias to start off the week. Obviously I like a USD/CHF short…:wink:

Out of USD/CHF +10.7 @ .91425…still like .9125 at some point this evening but since I was not planning to trade this evening, why not lock in a 10.7 pip bonus to start the week off…

Good Morning!

I’ll be getting started a little earlier in the Live Trading Room this morning. Have my sights set on an possible AUD/USD or GBP/USD short. For live trading and commentary join me at TurtleForex.com.

Have a great day and Happy Trading!

Joe

This morning there were two trades:

Short GBP/USD @ 1.5821 cover 1.5799 +22 pips
Short USD/CHF @ .91386 cover .91464 -7.8 pips

With no news due out and an apprehensive market, price action during the US morning session was not that good. Had what looked like a good entry on the USD/CHF, but could not get any follow thru. The trade moved 4-5 pips in my direction right off the start but that was it. My plan was to get out quick if price did not move my way so that is what I did. USD/CHF has since inched up another 10 or so pips with the equity market doing next to nothing after gapping up a bit this morning.

Join me Monday-Friday from 7:00AM-12:00PM for live trading and commentary at TurtleForex.com

Have a great day and Happy Trading!

I watched some of your live trades today. You did pretty well. I was trading the EUR/USD. Not much movement…but I made 11pips. I’ll try and join and chat with you. I see you’re a scalper; I like scalping but I also like day trading. Do you trade any after 12?

Hi Carnagecj,

Nice job on EUR/USD!..it sure is slow today.

I’m in front of a PC 12-14 hrs a day, so if I see something that looks good might jump in after 12:00. I’m “live” until noon in the Trading Room. After that I’ll post on the chat in the trading room with screenshots. Sometimes I’ll put a trade or two on during the Asian session. In fact I got short USD/CHF about an hour ago. Looking for 12-15 pips on that one. But right now its like watching paint dry. The 30 minute chart looks like a 5 minute chart!..:wink:

I post on this thread just before I go live so if your subscribed to the thread you’ll get an email.

Happy Trading!

Joe

Y

I just took a GBP/USD short at 1.57505. I will be in and out of the Live Trading Room this morning until about 8:30 EST then I should be there till noon. Hope to see you there!

I took another shot at USD/CHF short in the afternoon yesterday, but it didn’t work out. -11 pips.

Have a great day and Happy Trading!

Out GBP/USD +22.5

I was away from my desk this morning but I will be in the Live Trading Room until about 11:00 AM.

Good Morning. I will be in the Live Trading Room this morning around 6:30AM EST. Entered a GBP/USD short @ 1.5687 a couple minutes ago that got caught in a little news whipsaw as I was writing this. Looks like I’m OK for the moment down about 6 pips

Out GBP/USD after 5 hours of torture! +10.1 pips

If you were in the Live Trading Room you know that I am kind of disgusted with myself for a much less than optimal entry. I entered this trade for the wrong reason - because I didn’t want to “miss out”.

While the 15,5,5 was slightly overbought, there was a fair amount of support at 5675 which later proved to be a lot of support at that level. Had I been patient there was a much better entry about 1-1/2 hours later that while it also didn’t go directly in my direction, it would have never been down more than 7-8 pips (I was down as much as 33 pips and 8 pips from being stopped out and wiping out Monday and Tuesdays gains)

Sometimes its better to be lucky than to be good and that’s what I was today - lucky. Below is the chart showing how to make 10.1 pips that hard way…


Hi all,

We’ll I’ve almost recovered from this mornings stressful trade…hehehe… I’ll be in the Live Trading Room covering the FOMC minutes @ 2:00PM EST…

If the FED speak looks good for the USD I plan to short GBP/USD…If not I will probably just observe…

Got short on GBP/USD when it looked like the FOMC minutes was good for USD. Everything responded as I was expecting moving steadily in one direction with no whipsawing. Equities moved down and USD moved up.

Then out of nowhere everything reversed, after being up 8 or so pips (and looking for a lot more) in a matter of a couple minutes I got collected in a nasty reversal. The result:

GBP/USD -21.5. So I end today down 11.4 pips. Guess I got what I deserved after all…:wink:

We are live in the Turtle Forex trading room. Short EUR/USD from about 5:30 AM. US data coming out soon

I went into the EUR/USD short with a little different than normal plan. On this trade I was looking for around 50 pips and was willing to risk about 50.

As it turns out I should have stuck with scalping…I was at one point +15 or on the trade but held out for the bigger reward. But that was not to be. Out EUR/USD -44 pips.

I will occasionally take a bit larger risk and this is one of the larger losses I have had in a while. While I am certainly not happy about the loss, I am happy that I stuck to my plan. This is just a trade that did not work out.

Tried another EUR/USD short @ 3039…-27.1

-71.1 pips on the day. I’m pretty sure I will not be able to recover today’s losses and end the week with a profit. I’m down 46.1 pips for the week going into Friday.

I’m limiting myself to one trade tomorrow. I’m going to wait for a good set-up. If I don’t see one I am going to stay on the sidelines and enjoy chatting with the other traders in the Live Trading Room!

Have a great day and Happy Trading!

I’ll be in the Live Trading Room this morning. Looks like the Markets are awaiting US economic data coming out at 8:30 EST. The consensus is that we are probably going to see positive data which could lead to more USD weakness. I got my butt handed to me on two trades yesterday trying to go long USD as it had been strong for the last week or so. That kinda hurt and pretty much guaranteed that I will end this week in the red.

This is why I say the trend is your friend - until it bends at the end…hehehehe.

Not to worry. Draw downs are inevitable. But I do need to approach today with caution because I really have a lot of conflict going on in my head as far as direction. Not only in my head but on my charts as well. It may be that I just stand aside today. We will see.

Well, there was not much that I was looking at today that compelled me to take any risk. Tried and EUR/USD short that netted 4 pips (was +12, hit my stop).

I felt that maybe there was a chance of a late day equity sell-off going into the long weekend so I took one more shot at EUR/USD late…Equities never sold off and I got out of that trade with 1.1 pips.

I had an off week, down 41 pips. We’ll get 'em next week! Have a great weekend!

Happy Trading!

Joe