Hehehe, nuthinā like wakinā up n finding that u have more money in ur account than u did last nightā¦ Got +50 on EG, +30 on GJ.
Iām lookinā ta short EJ at 127.49. I see an evening star forming on tha daily chart. Price is also near a strong upper trendline drawn from tha daily. Bearish divergence on 1h. Stochastics shows overbought conditions on tha daily. PA also fell out of two upper trendlines which suggests ta me that tha overall trend is changing. I placed my S/L as 70 pips because I believe this will be a big trade and I need tha leeway. S/L is a good deal away from tha upper trendline and Iām hoping ta pick up tha short on a retrace. T/P hasnāt been set yet, but I believe I can pull +100 pips out of tha trade. Iāll keep watching ta see how I should play it. Anyone else trading EJ soon? Which direction are u trading?
Pending buy on AC at .9212. On my weekly chart I see a high tight flag which suggests further movement up. This trade is an aggressive one but I think tha formation should hold. If this trade goes sour then I know that I should have awaited confirmation. I placed my buy order in tha lowest position possible; a low from mid December. S/L is 60 pips for a decent buffer. T/P hasnāt been decided upon but I should be able ta pull app. +100 pips. This is another long-term swing trade.
Edit: More like a loose pennant but I will play it tha same way.
I could kick myself for what I did last night I had 3 short positions open on EUR/USD 1st one at 1.3530 resistance and the other 2 about 20 pips apart because I expected when Europe came online after their 4 day Easter break they would react the the good US economic news over the weekend while they were closed, and buy the USD.
I had been looking for a fall to at least 1.3292 support then I lost my nerve after reading foex website forcasts that the USD wouldnt rise much more and exited them early last night at 1.3455 only to wake up this morning and find the price fell even further way past my expectations of 1.3292 resistance.
I should have made 340 pips if I hadnt lost my nerve and exited, instead I made barely 90 pips
I wish Iād never read those forex website reports sometimes I wonder do they not deliberatly try to mislead people for some reason.
What report was that? and why did they say so? Did they have a reason to claim so?
(On an unrelated note, I have quit writing my trading log online, but Iām damn well still keeping track of my habits, and btw, earlier today was a great scalp on the AUD/USD thanks to RBA raising interest rates by 25 BPS)
I cant remember which website report it was, they said because risk appetite was increasing we would see less running to the USD as a safe haven so the USD would not be expected to rise much more and a fall could be expected. I have since read other reports that give a different outlook altogether
Okay guys, Iām back. I havenāt been trading that extensively this week but Iāll be back at it next week. I placed 2 trades since my last post. One was tha worst trade Iāve ever made since beginning. I just jumped in because I saw a strong move but I didnāt follow my plan at all. Tha second was a well thought trade that followed my plan.
Buy EJ at 126.08. S/L and T/P at 40 pips. -40 pips
Buy NU at .7031. S/L and T/P at 40 pips. +40 pips
Four new pending trades. All pretty aggressive.
Sell EG @ .884, S/L 40pips, 50% take at +30
Sell EA @ 1.464, S/L 50 pips, 50% take at +30
Buy AU @ .934, S/L 40 pips, 50% take at +30
Buy AJ @ 87.06, S/L 40 pips, 50% take at +30
Like EA, EG has gaped upwards to a trendline. Stochastics confirms overbought conditions. General downward trend. S/L placed behind prevous resistance above tha last peak.
EA has gaped upwards to a trendline drawn recently. Stochastics confirms overbought conditions. General trend is downward. In hopes of a better entry tha limit is placed just under a previous resistance line beyond tha trendline.
With AU, I noticed a gap upwards that I believe is throwing back above a resistance line. AU is approaching recent highs and tendency is to continue upwards. Limit placed at resistance line. Stochastics does not confirm.
AJ has formed a consolidation patter which is due to break soon IMO. Trend bias is upwards. Limit placed at bottom of formation in hopes of best possible entry. AJ is also highest highs recently and tendency is to continue upwards. Stochastics does not confirm.
might see more rises in the EUR because the EU agreed over the weekend to loan greece 40 billion dollars at a below market interest rate if they need it
EG +33 pips
EA -50 pips
AU -40 pips
AJ - 40 pips
EA went up ta next trendline and seems ta be turning around.
Didnāt take into account that AU was near a top trendline.
Should have awaited tha breakout on AJ.
Should have waited for stochastics ta confirm.
Anyway, that kinda sucked. Srry my charts look so bad but Iām still experimenting with my trading plan.
Two new trades:
Sell EU @ 1.359, S/L 40 pips, 50% take @ +25 pips
Sell GU @ 1.5366 S/L 40 pips, 50% take @ +30 pips
Kinda hard ta explain how I chose these. Lowered position size of course. They both follow tha trend direction after tha gap. Stochastics does not confirmā¦ breakinā a rule definitely but still tweakinā my signals.
Srry about tha delay; Iāve been busy and havenāt been trading much lately. Iāve lost many trades also so I recently threw out all my charts and started redrawing trendlines on sum. This led me ta a short on EU which I took. Soooo happy!! Iām currently +350 pips.
Edit: +500!! I scalped tha same pair twice too! Iām on clouds right now, I promise. Lettinā it run tho, soo excited! Best trade ever!
Wowā¦ Iāve def been gone for a while! I actually went live with a micro account and $150 and was really focused on working that so I apologize for not posting here. Funny thing was I turned that $150 into about $550 in 3 or 4 weeks! Thenā¦ a lossā¦ and anotherā¦ and anotherā¦ and ended up at $48ā¦ had to refund ta open positions. Anyway, after having put $175 total into tha account, I am currently at $53 w/o having busted it yet. I am certain itās due to horrible money management, as thatās how I made those gains in tha first place. My style of trading has changed COMPLETELY as well, which is another reason why I havenāt been postingā¦ still tweaking. I have found a chart setup that is very profitable most of tha time, but like I said earlier my MM has fcked that up for me many times. I can say that Iām waaay more detached emotionally while trading which is good, not ta mention I understand that my MM is faulty. Iām not discouraged!!! Iāll be posting a lil more frequently if anyone cares ta follow or point out their own viewpoints. Any comments are always welcomeā¦ (unless ur just a bitter meanie; in which case donāt say anything lol). I wonāt have tha same pics b/c I have a new broker but I will post my entry points and explain what I see. Happy trading!!!
Ok, I should mention that I still trade based solely off price action. I use Fibs EXTENSIVELY now, and a slow stoch just ta gimme a feel of whatās goinā on but mostly itās what I see on tha chart. Anyway, Iām currently lookinā ta short EUR/CAD at around 1.35073 and again at 1.35418. S/L at 1.35733ish. 1st target at 1.34709 if both lots are hit, otherwise thatās my B/E point. Itās a lil sketchy b/c PA is so far below but weāll see. I have a similar setup that Iām watching on tha EUR/USD. I wonāt trade it but Iāll follow. Lookinā ta short at around 1.31763 and again at 1.32217. S/L at 1.32625ish. 1st target at 1.31318 if both lots are hit, otherwise B/E and trail. I know, I knowā¦ tha bias is upwards overall but this is a short term trade so hopefully itāll work out. Possible head n shoulders on 30m EU??? Oh yeah, and possible double bottom on GBP/JPY 30m??? Stay tuned!!:D:D
Edit: As far as tha screenies, I normally have a lil more goinā on on tha chart but I cleared it so u guys can see more clearly.
ā¦ Count on me ta accidentally pull tha triggerā¦ I decided ta remove my EUR/CAD entries b/c of choppy conditions and tha retrace not taking place in a timely manner. I did however enter tha EUR/USD trade at a few pips below my first entry point. I will break even at tha profit level I mentioned earlier but I will not take tha second entry point due to margin issues. Also, my S/L was moved down to 1.32402 for a better R/R ration (which is still kinda bad btw) and because I reanalyzed my chart. Iāll post results soon. Happy trading.
Soooā¦ I had ta go ta work so instead of lettinā my EU trade run I set a T/P level based on a projection that I canāt really explainā¦ Anyway, tha entire trade was almost literally to tha pip. Iām ecstatic!! Iām lookinā ta short tha pair one last time at roughly 1.32271. S/L will be app. 1.32636. Kinda hard ta explain this trade too but this is a setup that I am very confident in. Basically itās a type of Gartley. I will close half of tha position at 1.31953ish and move S/L ta break even. T/P will be placed at 1.31586ish. Iāll keep ya posted. Oh yeahā¦ Iām sure u guys are thinkinā, āthis guy just trades all willy-nillyā¦ā I promise there is a method to tha madness, but I would like ta work tha kinks out before I share my trading plan. Anyway, happy trading. :rolleyes:
Edit: Looks like my projection coincided with a 50% fib line of tha entire upward moveā¦ go fig lol
:D:D:D YES!! I set my trade up, went ta sleep for a few hours, and woke up a lil richer!! Both my 1/2 take as well as my final target were reached so Iām on clouds right now! I set one final trade up. Uāll like this one; itās in tha direction of tha overall trend lol. Strangely, Iām not as sure about tha T/P and S/L levels that are placed but like I said, Iām still workinā tha kinks out of my trading method. Please comment with ur personal trades or questions about mine. Iām hopinā for three wins in a row, wish me luck! Happy trading. 
:eek:
Wowā¦ what a few days!! I was sooo skeptical about my profit targets on my last EU trade that I was glued ta my comp screen and mobile broker for most of yesterday. Truthfully, Iām sure luck helped a bit, but ta snatch such a large amount of pips in such a short time is truly a blessing!! Not ta mention that itās Friday; Doomsday of Forex daytrading. Anyway, both targets hit. Screenies ta proove it. lol I guess u could check ur own brokers for proof as well. I have a confession thoā¦ I cheated on u guysā¦ I took trades besides this 1 that I didnāt post. Crazy thing is I won all of those as well including tha 19 pip take I snatched in about 15 min this morning!! If u consider individual positions, Iām @:
+51.6 pips EU
+113.2 pips EU
+19.5 pips NU
+41.9 pips AU
+14.7 pips AU
Hereās ta appreciating a beautiful trading week and hopes of another next week. Happy trading!
Edit: This doesnāt include tha two wins I shared with u guys earlier this week. Iām sooo happy!!!
Edit: Oh, just in case ur wondering, my account is currently at $94 from tha $53 I mentioned a few days ago. I will be using better money management from now on.
Ok guys, I set one last trade up earlier today despite tha fact that itās Friday but I am really confident in this trade setup. I would post a screenie but my broker will not open now that tha market is closed. It was a long order on tha EUR/GBP. Gimme a few ta see if I can find another charting service ta post my levels, etc.