profit target hit on long from 1.3303.
profit is 0.12%
closed eur/usd long at 70 pips
shor eur/usd at 1.3500 off a set and forget order.
got filled, risking 0.25%. stop is 1.3555, target 1.3380
covered half at 1.3460
stops to BE
covered at 1.3430
Good stuff Jay, ( On the EU Long ) before the absolute Madness, ( your not ususally around at this time, You Knew it,lol, Jobless claims keep u up?)
Keep rocking it Jay,
Moneyā¦yaā¦ I strongly suspected a move like thisā¦ in factā¦ I bet on it! It was the one trade I made today trading futuresā¦made about $1200 thereā¦
Basically, I thought the short squeeze was underdone from earlierā¦ and we made a specific pattern shortly after london open that iāve seen in markets beforeā¦and it indicates usually insitutitional accumulationā¦
furthermoreā¦ weak hands were to the upsideā¦ and there was a massive exotic position played under the low of the week. Basically, a very very big bet (hundreeds of milllionsā¦likley over 500 million) was placed in such a way it was almost begging to have its bluff called. and anyone making such a bet with tight stops would either be incredibly dumbā¦ or very very smart. Long story short, I figured 500 mil + knows somethign we don;tā¦so I pushed to the long side all dayā¦with one final 100 pip target.
And of courseā¦then the rest of us found outā¦ and the euro jumped 200 pips.
I also hit a āset and forgetā order to short around 1.3500ā¦so it worked out both coming and going 
It was a great dayā¦ lol. and people want a āholy grailā. Nothing Doing. Itās time, practice, patience, understanding, taking input and information from all sourncesā¦and acting on it with conviction.
Other than that thoughā¦trading is easy 
Jay
^ do you daytrade???
Hmmm. what exactly do [I]you[/I] mean by ādaytradingā? This is what I would consider my primary style of tradingā¦yes.
Jay
Do you night trade to???
Ok guysā¦ 6 entries, 6 profitable trades. A total of 1.274% profit.
[B]account balance stands at: $1041.22[/B]
Soā¦ this project actually started over at my mentorship thread on about october 30th, and moved over here around nov 6th. This is the last day in november for me, so ā¦ and I figured now was a good time to give the final numbers for about the first month of this project.
profits for this so far are approx: 4.122%
Now, this will not get me to my end goal of being able to generate a middle class american income within 36 months, but my averge risk per trade was no more than 0.30% per trade. Had I averaged a 1% risk per trade, I would have brought in approx. 13.74% profit for the month.
At 13.74% profit for the month, I should have no problem acheiving my goal within 36 months.
Furthermore, I expect this month to be one of the worst months of all for the following reasons:
-
For one week, I traded only a single day, and dropped the account by over 2.25%. This was due to trading without a plan, and therefore making emotional mistakes. Had I just not had this one day, I would have likely increased my monthly profit by about 30%. I will not have another day that is so fraught with emotional, impulsive, irrational mistakes.
-
This month started the holiday season. Besides december and January, this is the worst month for holidays, low liquidity, and higher than usual volatility.
-
I have worked through some of the details in my trading plan, and I have found some less obvious leaks in my game that I have since plugged. These should not be issues in the future.
-
I have a more structured routine to start my weekā¦ and this will help prevent impulsive decisions, and also take advantage of more opportunities that I have been otherwise unprepared for.
-
As I continue to develop my own trading plan further, it will grow to minimize my shortcomings and maximize the opportunities.
For these reasonā¦I see my own trading plan as the most important part in my own growth. I will post up more on this in the following post.
Anyway, thanks for the comments guys. I appreciate the interest. I get more out of this when you all participate too
Jay
P.S. Really excited to see what the next 4 weeks bringsā¦as this should give us all a better idea if I will actually hit this goal or not.
Ya Know!
Jay
Here is an excerpt of my trade review for a losing trade I took here on 11-13 in eur/usd. I am posting this up so you can all see the process I go through to try to determine why a trade I took lostā¦and if i should learn anything, or even implement any sort of rule to guide it in the future.
Please let me know if this helps any of you. If not, I wonāt post more. If soā¦I will try to do so when I feel it may be appropriate and not TOO invasive in my own privacy
=================================
My Trade Review:
Eur/Usd long on 11-13 at around 11:11 pm PST
Profitable trade, but not even 1:1, and trade barely got 10 pips on that first half
Also, same trade idea re-entered at 1.3758. 25 stop, 50 target. just plain lost here
Reasons trade lost:
Problem -
Went long just as price hit a 1hr level in a virgin daily sup zone not even 60 pips above my entry.
Lesson - do NOT trade against a fresh daily sup/dem zone. period.
Lesson - do NOT take a trade against any virgin 1hr or 4hr level within a fresh daily sup/dem zone
Rule - do not take any AMSH trade against a fresh daily sup/dem zone.
Rule - do not take any AMSH against a virgin 1hr or virgin 4hr level in a non-virgin daily zone
======================================================
These rules then go into my trading plan under the filters section of my entry criteria of my actively managed short term trades (AMSH trades). I then have a checklist, and once on the checklist, it takes a body of evidence to realy take it offā¦ so my plan only tightens up loose ends, while remaining flexable enough to allow me to modify it if needed.
Do you guys do something like this? If soā¦what? Can you post it up?
would like to hear from the rest of you on this matter of trade reviewā¦
Jay
Eur/Aud - long at 1.3140
stop 60 pips
target 120 pips
risking 0.20%
I see where youāre going with this one. Got my eye on it myself. Although I need confirmation from a daily close before I engage.
If it sets up right, it could get far more than 120 pips:D
And it looks very very promising already.
Good luck with it!
closed out 1/2 of position on eur/aud long at 1.3165.
Thanks Tang! I hope I didnāt just get too greedyā¦ Iām seein the eur/usd sell off to at least the asian session lows, as I think we could still push up in eur/usd a bit more hereā¦ But with that type of selloff to the asian session lows, eur/aud will drop a bit.
CLosed half my position at +25 pipsā¦will re-enter on a pullbackā¦and I do hope we get one!
I may take an entry that would require much larger stopā¦butā¦wellā¦ anyway. Iām still in half the trade, so it canāt go that badā¦ and iāve moved stoped ups to 1.3116ā¦ this should now prevent any losses in this trade.
Not bad. canāt lose now. with profit. and i get a chance to make more should I get the expected pullbackā¦ which so farā¦looks like it MIGHT just happen.
Jay
short eur/usd @ 1.3457
30 stop
30 target
risking 0.1%
Jay
correctionā¦filled at 1.3456
Iāll shine the Bat Light if my super decoder ring signals a solid entry 
long at 1.3151 on eur/audā¦ risking 0.05% with a 40 pip stop
120 pip target