gbp/usd long
-39pips
-4.3%
couple things, i thought i had a tto stop on but it must've have been set to buy more lots, but also i inputted the order on my laptop with no mouse, so i decided to change my order sheet to another cpu, so i dl it and pull it up...i'm watching price and it explodes through my stop putting me in double my size and i am like wtf so have to manually input my exit and get filled 13pips past my intial stop at double the size. wtf. my stop would have got me out at -2.2%...

oil inventories
took a news trade

usd/cad
-15pips
-1.2%

eur/usd
+53pips
+6.2%

not trading much....work is getting to me...along with sleep.
my neck is killing me from that hotel room

oil inventories trade- my favorite news trade...every wed same bat channel, same bat place.
huge surplus
aw i should have used a bigger size, stop was a mere 8-10pips off. Was plus 35 at the largest part of the move.
i need to work more on exits.

+15
+4
a big .0083%

what ever profit is profit. my daily minimum is 15pips a day...so 34(from London) and 15 from New York.

Think I got in about 8pips late, it moved so fast. This bastard took so fucking long to wait to set up.

+34
+19
+4.7%
well...2xmap largest part of the move I was in was +50. hmm.

Refined Plan-
look for the
macd cross on 4 and 2 hr
trade them on the 15min
waiting for 1min stochs...

of course intermarket analysis

I will also fib the 4hrs charts with an alram at the fib points 50-61.8- per 'Darko'

I will also still take the 2min jpy trades...

all of of the charts will be trapped for price

well...too much size on the last two entries which both had bad timing.

again i need to focus on better trade plans.

2 amateur trades in a row. so lame. trying to force it, intead of looking for the choicest set up and waiting.

-7.9% for the day. wow. sucks so bad...amateur mistakes.

good set up, bad entry, too much size
-41
-5.9%

late entry...bad entry...i'm ashamed of this price chase
-11
-2.5%
i deserve this loss...bah

+4
+1
+.00198%
stupid german zew trade was crap, trade was lame

gbp/jpy short...
news trade
-9
-13
-1.53%

gbp/jpy
-32
-2.6%

took a late shot off the bottom of a triangle, made a quick 8-10pips...nothing in beast and then it slowly rolled down.

My focus is now developing solid trade plans.

gbp/usd

long

entry 148.14

exit 1 149.40 = +126 pips

exit 2 149.58 = +144 pips

= +10.28%

this seems like the move for the london session and good potential to follow thru, my exit for my second half was bad, i should have not kept as tight a stop while anticipating a better exit...especially looking at the 1min candles at the 150.00 area...at this poiont is it at 150.50 up 100 more pips from my stop...

nfp live
e/u
-36
-46

i got whipped. wrong pair. The dow made a great trade. didn't do it since this is a forex account. Hmm...
then too much leverage for the sl used. lesson learned. news trades are hit or miss.
-14.4% bah.

first i should have checked for better mkt coorelation.
i adhered to my stops, but they were too wide and a good news trade works immediately.
i used bad leverge for nfp.

well up 60% or so for the week at the most, then gave back too much
bah... -14 or so today, it should have been -10% at most since it was 2 trades with 5% risk at most.
4% extra is a lot.

weeks total up
30.9%

so...

this weeks 7 Performance questions

1. What will I improve on this week?
Identifying the weakest to the strongest so I can catch the trend of the day...if there is a trade.
The second goal for the week is to work on my trade plans ahead of time. I will plan 3 trades and ahead of time per day, executing them if I am in position. Never deviating from the plan.

2.What was I proud of this week?
Catching a nice gbp/jpy trend move after I had set a trap for it.

3. What was my biggest accomplishment?
Same trades as above.

4. What have I done to get closer to my life goal this week?

5. What was hard for me this week?
time, sleep, waking up. New station, so sleep is a commodity.

6. What was my biggest waste of time this week?
Sitting in front of the cpu, without ritting down and setting up trade plans or specifically id no trades.

7. What did i do to make me ashamed this week?
NFP ... i was the sucker.
first didn't identify the right pair,
second i didn't set a good trade plan up including s/r
third i chased both sides of price...
fourth i used too much leverage, i should have used a smaller amount for nfp...

i'll reread this again throughout the week.

-31 gy

be ay

correction +3.5% actually

ey trade-
couple things late on both entry and exit due to working bid sheet. i need to anticipate price on both sides.

+12 double top in ym
-3(bah attempting to adjust bid sheet and it went neg)

another + .5%

total 2.5% for the day

+2% for today

+69
+5 (be)

+1
-5 at one point this trade was 41 pips in profit, i was trying to anticipate the exit, but was tooslow. i should have got out half.


Bernake says he is buying up 100 m in bonds....long bonds.
fucking insider trading right there

-8

bah got in too early on a short...

i was looking to short beast, it was coming on 21ma in 15min chart, but the es and ym were a bit off their 21 so i took the trade when beast hit its 21ma, it moved against me as the es and ym contiued to head torwards their 21, on hitting their 21...beast hit 50% of last swing...price reversed torwards my way and began making a profit. I exitted -8, the trade at this point has gone 100pips from the last swing, i was in the middle so bad entry on my part.

live

beast

-33 bah no direction, i was stuck in the middle of the range

= -3%

short @ 145.40 after break of major support

+61

+141

+191

+164

+290

still got a piece on...this shows i need to work my scale...stop is +100...i think i am going to a 3 tier scale. map. medium profit target. major profit target. daily s3 was hit, i should have exitted 90%.

lot of news but i had to sleep,

= +30% or so

NY session

beast +3...unfortunately this thing was 40pips in profit for me for a very brief point...but the es and dow were shwoing a higher low so got out

swing trades demo
-12(1lot)
+41(1lot)
-161(.05lot)
-177(.05lot)
+30(1lot stopped out in profit)
+152(1lot...most i was in profit was +256 weekly r1 was hit, it was late in the ny day i should have took the profit at the weekly r1 or atleast the 2min macd against me)

1more lot is running from 145.55 with a stop of plus 30...this trade at it's max so far was +305...

I definately find this system interesting. I need to watch my stops and give them larger rooms if I am going to use a big stop use a lot of confluence and have a better scaling method.

-12
+30

i think i figured out how to close part of my trade, but one needs to have multiple lots.

Shorted a double top a little late, got in at 58 reasons of dbl top, stochs rolling down, risk to reward was good, my stop was just 25pips so was atleast a 2:1 risk to reward.

+5

i immediately had the trade go my way within 1-2minutes for a plus 28, then the next bar fibbed back on me and because i had moved my stop i got stopped out +5, note the move only rose to 4 pips of my stop so maybe i should make my stop +1.

The move then went on to go +58 in my favor or near my target of 00.

Because I was against the medium term trend I kept a tight stop and didn't want to let it breather too much, and wasn't going for a large profit target.

Note that earlier move ended up being 250pips, my spot profit target was the daily pivot which was 141.43, it iended up running to 141.06...so very close for the beast.

Now note this chart, i missed the trade as i was napping getting ready for London.

Note 61.8% retracement, rising stochs, price action rising very slowly, i should have been ready to take a shot at the low for a long and put my stop at 15-20just past 76.8% reverse fib or so risking 2:1.

Short @ 143.51

reasons- gap, dbl top, 5/8cross, macd cross, stochs rolling down.

+20, the move was more, but I was attempting to set a profit target and this thing exitted.

Note the larger move that occurred. At this point it is +150. 4hour chat looks like it wants to roll up, but it needs to breathe down first, this is the breath down. My target is the daily pivot which ties into s/r @ 141.4433 which would be a 200pip move.

Took a second trade fading this. Got slaughtered. Tried to find resistance to fade into with a fib point, it ended up slowing down, but i missed the move.

-30

Still making a bunch of amateur mistakes, bad entries and exits...and watching my son haphazardly is also getting in the way.

I'm stocked to finish up my office this weekend and trade mon euro.
I want to play with watching the DAX, FTSE on top of the ES, DJI, and tnote.
I will make a ton of profiles on my desktop maybe add a second vid card as well to get 3monitors on it alone. Currently my setup is two laptops with 2extra montiors at home and 1extra montior at work.

Once i get my office set up I will post a picture. Blast some AC and have a nice tv/dvd/xbox.

Tried to get in at a pivot point hit with a 23% retracement as I missed the earlier move and didn't want to chase price. Stochs was rolling up on the 1minute, but 1min macd had crossed against me. After entry tnote and es began to not coorelate showing weakness, I was not able to manage this thing once I pulled the trigger cause I hadto watch my son. I could have been BE or +8, instead let a winner turn against me by not moving my stop. Fortunately I am moving my office so I can shut the door to my trading room.

-34


O well still up a bunch for the week. 1.745%

nonfarmpayroll

fudged entry1 -76
i actually hit order and was expecting it to check for confirmation and it sent the order when in fact i was waiting for confirmation so it got me in way to early at 20%


entry2 decent entry at 50% +7(stopped out)

several EUR/USD trades...it should have been just 1....

short

+17

+19

-14 You know this trade was way too late. i should have went small if anything or done nothing.

On top of all this, it could have been just 1 trade and I make 100plus pips instead, by letting my stop breakeven then map, then simply letting it ride. It was at spot trade time anyways. Coorelation across the board was good as well for USD strength.

CAD news

BE

...missed first entry on 1min fib so reentered on the 5min and got a mkt order and then went plus 10-12 then it pulled back for BE...

EY -29
took a countertrend trade and paid the price. mkt order at 61% fib and let it go to 100%fib, not a good trade.
Another trade that turned after I exitted, the stoch rolled over and it shot up allowing a near break even.
I need to wait and be patient.

BAH

EY-

short

-12

I stopped out 1pip from where it fell 40pips wtf?

My STOP was too tight... i should have put it 5-10pips above the recent swing high

NOTE how the EY responded to the 21ma on the 15min chart providing resistance as well as the lower part of the triangle on the 1hr.

EY

LATE ENTRY

-8

Took a short here in this area, mid to short term trend was down, it appeared to have broken some resistance in the 1hr and 15min time frames, I waited for a stochs cross, macd on the 1min unfortunately turned against me a few minutes prior, macd in the 2min was converging, both bad signs, but I had 1min stochs down giving me some play room, the stochs began crossing down, but price failed to move lower signalling bad news at which point I immediatelly tigtened up my stop. Price failed to go lower and 1min stochs began losing momentum, as 2min macd began crossing... at which point price spiked 30pips. I could see a reason to long from where I was, but the risk/reward was not good considering I woukld be counter trend trading against so much. My hunch was right and it only moved 25-30pips from the low...retunring to what was the 5 on the 15min.

ism trade

EY
long @ 128.17-
p1 129.65
p2 129.85 stopped out

50% +148
50% +168

EY encountering confluence, wm3, daily pp, 8ma on 15... didn't take it, but it was a decent short fell 40pips.

scalped into a spot

EY-

took a shot in the mid NY after seeing a 2min macd, lh.

50% +36

5% +235

45% +313

BEAST- this was pretty lame, i exitted on a 1min inside bar that appeared to fall then stalled... after that it took a 230pip move my way. Was a little early, should have been patient and used my indicators along with price action.

-31

Here's a 500 pip plus move in the EUR/JPY, this was a euro move.

note the r2 at 129.74...it's currenlty at 129.94

many places to enter and renter this bad boy freight train.

New Office

I'm very excited, I am setting up my new home office. This is excellent in that it is out of the way in my home and there is a door that I can secure my cpus away from my son aka little monster.
I cleaned out the future office last night, and everything is ready to move in.
I have a new cpu desktop to add and use. It has 6GB of ram which will be awesome, not to mention the new monitor and printer. I'll also add a bookcase, tv, dvd player and boombox.

This should help me take my trading to the next level and reduce the nuances of trading with ones family in the home.

The Places You'll Go

Look for the trading analogies

“Congratulations!Today is your day.You’re off to Great Places!You’re off and away!
You have brains in your head.You have feet in your shoes.You can steer yourself any direction you choose.You’re on your own. And you know what you know. And YOU are the guy who’ll decide where to go.
You’ll look up and down streets. Look’em over with care. About some you will say, “I don’t choose to go there.” With your head full of brains and your shoes full of feet, you’re too smart to go down a not-so-good street.
And you may not find any you’ll want to go down. In that case, of course, you’ll head straight out of town. It’s opener there in the wide open air.
Out there things can happen and frequently do to people as brainy and footsy as you.
And when things start to happen, don’t worry. Don’t stew. Just go right along. You’ll start happening too.
Oh! The Places You’ll Go!
You’ll be on your way up!You’ll be seeing great sights!You’ll join the high fliers who soar to high heights.
You won’t lag behind, because you’ll have the speed. You’ll pass the whole gang and you’ll soon take the lead. Wherever you fly, you’ll be best of the best. Wherever you go, you will top all the rest.
Except when you don’t.Because, sometimes, you won’t.
I’m sorry to say so but, sadly, it’s true that Bang-ups and Hang-ups can happen to you.
You can get all hung up in a prickle-ly perch. And your gang will fly on. You’ll be left in a Lurch.
You’ll come down from the Lurch with an unpleasant bump. And the chances are, then, that you’ll be in a Slump.
And when you’re in a Slump, you’re not in for much fun. Un-slumping yourself is not easily done.
You will come to a place where the streets are not marked. Some windows are lighted. But mostly they’re darked. A place you could sprain both your elbow and chin! Do you dare to stay out? Do you dare to go in? How much can you lose? How much can you win?
And if you go in, should you turn left or right…or right-and-three-quarters? Or, maybe, not quite? Or go around back and sneak in from behind? Simple it’s not, I’m afraid you will find, for a mind-maker-upper to make up his mind.
You can get so confused that you’ll start in to race down long wiggled roads at a break-necking pace and grind on for miles across weirdish wild space, headed, I fear, toward a most useless place.
The Waiting Place…for people just waiting.
Waiting for a train to go or a bus to come, or a plane to go or the mail to come, or the rain to go or the phone to ring, or the snow to snow or waiting around for a Yes or No or waiting for their hair to grow. Everyone is just waiting.
Waiting for the fish to bite or waiting for wind to fly a kite or waiting around for Friday night or waiting, perhaps, for their Uncle Jake or a pot to boil, or a Better Break or a string of pearls, or a pair of pants or a wig with curls, or Another Chance. Everyone is just waiting.
No! That’s not for you!Somehow you’ll escape all that waiting and staying. You’ll find the bright places where Boom Bands are playing. With banner flip-flapping, once more you’ll ride high! Ready for anything under the sky. Ready because you’re that kind of a guy!
Oh, the places you’ll go! There is fun to be done! There are points to be scored. There are games to be won. And the magical things you can do with that ball will make you the winning-est winner of all. Fame! You’ll be famous as famous can be, with the whole wide world watching you win on TV.
Except when they don’t. Because, sometimes, they won’t.
I’m afraid that some times you’ll play lonely games too. Games you can’t win ‘cause you’ll play against you.
All Alone!Whether you like it or not, Alone will be something you’ll be quite a lot.
And when you’re alone, there’s a very good chance you’ll meet things that scare you right out of your pants. There are some, down the road between hither and yon, that can scare you so much you won’t want to go on.
But on you will go though the weather be foul. On you will go though your enemies prowl. On you will go though the Hakken-Kraks howl. Onward up many a frightening creek, though your arms may get sore and your sneakers may leak. On and on you will hike. And I know you’ll hike far and face up to your problems whatever they are.
You’ll get mixed up, of course, as you already know. You’ll get mixed up with many strange birds as you go. So be sure when you step. Step with care and great tact and remember that Life’s a Great Balancing Act. Just never forget to be dexterous and deft. And never mix up your right foot with your left.
And will you succeed?Yes! You will, indeed!(98 and ¾ percent guaranteed.)
Kid, you’ll move mountains!So…be your name Buxbaum or Bixby or Bray or Mordecai Ale Van Allen O’Shea, you’re off to Great Places!Today is your day!Your mountain is waiting.So…get on your way!”

Some things on my mind

I am really perturbed by some people and their ''elaborate'' systems.
This is the biggest game in the world. But a real trader should first has the ability to trade by price alone and turn a profit. Naked trading. No indicators just price action.

I cannot fathom why so many people rely on indicators that they have no idea what they do and what really gets me is they have 30 indicators running at one time.
A trader should be able to clearly articulate what each indicator does and represents if he is using it on a live account, much more so if he is teaching it.

Another point.
5% risk.
If a person was to trade 5% risk on a $25000 every trade and after profits and losses make a mere 15pips they would have upwards of $15MILLION the very first year if you took no profit.
$2.5million profit if you took 40% profit per month which equates to 1.7mil

*5% risk is rediculous for a seasoned trader is my point, you are taking excessive risk and if you traded longer than 6months using that system you'd already be a multimillionaire.
My point is Risk should be scaled back the better one gets or slowly ramped up to no more than 5%.

Each trade and trading day should be small in the grand scheme of things if one is really in it for the long haul. I understand these past 3weeks provided huge ranges and potential, but other than these special occasions like that I cannot see someone continually telling me they always risk 5% per trade. If they were making a mere 15pips per day they would be a multimillionaire in a year.

Took a shot on this EUR/JPY

Price spiked up, I fibbed it and got in

2 @ 172.3 long

adjusted my tto for 1/2 my position to liquidate at +15,

unfortunately again i scewed the order sheet up and ended up adding

1 @ 189 long

so instead of getting out 1/2 my size I bought another order. wtf? that is a mistake I cannot believe I did. At that point I should have continued with my original plan and closed that extra order as it was a mistake. From now on I will not try to manage mistake orders, I will immediately close.

So I moved my stop and let this play out.

Some things to note, the point and figure formed a double top and the 1min 5/8 turned down. At either of those points I should have took the meager profit I had, or at the least 1/2 my size. Where the double top box occurred is exactly where if i was bearish i would have shorted, is exactly why i originaly had planned to exit 1/2 my size.

I took a break even on both.

Weekly performance questions

7 performance questions(wkly)

1. What will I improve on this week?
I will work on being a complete trader, specifically taking profits, taking losses early and my journal.

2. What was I most proud of this week?
I had a decent trade or few.

3. What was my biggest accomplishment this week?

4. What have I done to get closer to my lifes goals?
Put in the trading hours.

5. What was hard for me this week and why?
I am still working out my hardware/software problems

6 & 7. What was my biggest waste of time this week? What am I most ashamed of this week?
Letting a winner turn into a loser, cause I did not bag my pips and let the rest break even.

This week my focus will be on being the ideal trader. I will do my chart work, develop my trade plan, trade only my plan, lock in pips and set be. If I get a loser I will kill my trade at a reasonable level(max30pips), take a mental break and resume as each trade is just a small piece in the grand scheme of my total time trading. At the end of the week I will take the screenshots from each trade, print them up and then review them to relive each trade.

Fade the EY
+19
+8

2min macd working well. should have fibbed my way into this.

2min macd is working very good.
The gap on sunday from the e/u was preceded by my 2min macd- a 50 pip move as well as this beast tue london trade of 200pips in short order. Saddly beast was 30pip spread. The lower high was the first signal. The 1min stoch was in agreement and then the first lower high with the 2min macadoodle was the trigger.
I did not take these trades but it is giving me confidence to use this 2min bar more and more.

Part2 of CAD/JPY trade
bah this thing now moved 220plus pips in my direction.
too bad i got out at +47pips.

Note how price is riding the 5sma in the 1hour chart, keeping its closes below it. That would have been 3weeks of profits instead of 3days worth.

CAD/JPY trade

Took a news trade, on the 1min. approx 4:41am(0430news)
Bah I should have gave it more room.
Oil inventories came in at a surplus, which fundamentally will be weak for the CAD, the jpy was the strongest pair at the time. So chose the CAD/JPY before the news.
On the news hedge funds began pumping money into the CAD/JPY, oil, etc...or were covering. CAD/JPY spiked, then i waited for the reverse fib with stocs confirmation and once I saw red pulled the trigger.
Here's a shot, this isn't the exact charts i took the trade on, I have to get the template set up on this cpu.
Note- silly me i held this one too tight and it made 120pips as of now with only a few pips negative(the chart SHOWS a be, but the mb platform went negative a few pips. I actually wanted to go back to sleep, i thought s2 was a good target or be. Looks like this would have been a good spot/swing. It was at the right time for a spot as well.

short 3 @ 79.39
cover 1 @ 79.27 +12
cover 1 @ 79.25 +14
cover 1 @ 78.92 (s2) +47

Took a fade.
+7
+25
Basically the eur/usd made a new low on the 4hrs. ?Kept going lower, we were coming into London open at 9pm Hawaii, so I looked for upcoming support, we hit s1, then I looked for a reason to long, Ended up taking a market order long on a higher bar, unfortuantely it put me at the top of the range, buying into resistance against a down trend. But we had moved very fast and I was temporarilly down 10 or so pips then it began working in my favor, my sl was a lower low, but we ended up going up. I wanted half of my order out at 60 the round number 8pips plus my entry, then the exit at a fib point which was 70/80 the psychological numbers and places where people put a lot of orders in.

So tonight I am up +40 even with the sloppy orders. I need to get better at entering on this platform.
The good tonight was that I was patient and not overly eager about trading. I waited and took my shot like a sniper.

mon pm(tue london)
made a decent trade off of 2min macadoodle...missed the double bottom trendline long, got in on the 2min macadoodle cross.
problem was my limit order on the platform.
i knew 30 would be resitance so wanted to cover half at 30 for a plus 13, then the other half to break even, ended up making a whole new order instead of cover.

+13
+1
-5(accidental order)

Wed HI(thurs london)
Two trades- about 6pm HI, midest
going for the carry.

GBP/USD
5/8 cross on 15min @ 1.7281
covered
1.7234 +47
1.7238 +43

USD/JPY
5/8 cross on 15min for 0 p/l

+8
+12
Took this off a double top on the 1min point and figure, at the peak of this it was a +39. Again I should have took map or more.


A few trades a little late in NY, the 1min was channeling, then spiked on news. I traded the news channel/channel break. Need to get a little more better with the mt4 trading platform. Turned a winner into a 23point loser. At the peak it was +23 then turned it into a -23. wtf? anyways reminds me to take my map on half my size. Looking at the chart there were a few places to enter, at the bottom of the channel a 5/8 cross occured on the 1min, then the first news fib at 38.2%, then the news fib I took outside the channel.

short e/y
nice trade for me
+20 or so
+60

Faded the short term move into the long term direction. Took 15pips right away, then let it run, then took the other 15 or so pips as it came back.

Missed trade

Well that missed trade ended up being the spot trade for the NY session.

Going from 1.3617 to 1.3258 which comes out to 359 pips.

Bah...I was so close to pull the trigger. I should have checked the long term charts 1 and 4hr. It clearly showed a descending trendline in the 1hr that was overlapping with a daily pivot and weekly pivot zone with pressure from the 1hr 55 and bollinger band going into the long term trend.

I have got to wake up at 300am(HI) to begin to get a feel for the market so I can look for the spot trade that occurs between 4:00am-4:36
I also must remember the pre market whips caused by hedgefunds.

Ah well I chalk it up to world experience and atleast I caught a nice trade in the London session locking 15pips in for half my size and the other half at 22pips.

Been having CPU problems

Sucks lately, my cpus are not up to par.
My primary is down and I am only able to use my secondary and tertiary, which I was finally able to get my correct layout up, but the cpu is slower and only has a limited amount of memory.

Did a demo last night, locked in 15pips, then let the rest run and it showed signs of reversal so i took the rest of the profit at 22pips.

Here's a missed trade this early NY, the missed trade is up 100pips right now...wth. Well it seems like I am back with my cpus, this weekend I am also going to try to buy some a new cpu, not sure if I am going with a new desktop, as I trade from two locations, home and work, so I may have to get 2 new cpus. The laptops keep crashing on me, it's the long hours runnning.

Ack cpu down

My primary cpu wireless is acting up. I'm not sure what the issue is. It works at home, but not wireless.
Right now I am running my two secondarys, it is going ok, but I am missing my point and figure charts.
Another issue is I have my screenshot software on their.

Mon(sun) 1 trade, 1% up. can't recall.
Tue(mon) 1 trade 2% up. +19, +4(breakeven)

I got class tomorrow, so I am going to work on my assignment, thus not focus on trading right now. I will try to catch the NY open for a spot trade.

Here's a trade sheet that I am looking to do something similar with.

Focus for this coming week.

1. The spot trade
2. Locking in the 15pip profit, letting the rest run.
3. Break and retest entries.
4. Double bottom entries for scalps.
5. Demo
6. Working on developing a tradesheet

The worst trade in 3weeks

I was late in a trade, that I was leveraged too much I was up 38pips(note I did not lock my 15pips in as I have all week, because I was late I should have locked in 8pips at the least then moved the rest to break even.
I was running only 1 monitor, so thought I had the 1min on cause I was flipping but actually had the 1hr on. The trade turned from a winnner to a loser in a few minutes and I was looking at the wrong chart. omg. lame.
ended up doubling down and lost more.
at this point I am only up 1% for the week. Really lame lost 7% or so on that trade. REALLY LAME.
Went from 8%up for the week to 1%.

Lessons from that trade
1. late entry, chased price
2. over leveraged
3. wrong charts- cpu not set up right
4. didn't scale- with price chasing i needed to scalp at 5pips then let the rest break even. it moved 38pips in my favor and i didn't even lock 1 cent in. 38pips would have been another 3% to my account. A total of 11% for the week, part time. What an idiot.
5. didn't have break in locked in with so many pips in profit.
6. doubled down without having a strategic place to do it without a final exit plan.

I have been really good about not chasing price for several weeks. I have made sure every trade was quantified. Till this lame duck. I was over leveraged, I have been pretty good about that as well counting pips not profit. Today I did it backwards and wanted the money not the pips. whamo. bad move. I need to focus on quality trades with setups, exit strategies and the pips. My monitors were not set up, my charts were not set up correctly, I cannot trade half cocked. Didn't scale. wtf, I have been so good with this, again part of this was greed, I was watching the dolllars go up not the pips and upcoming resistance. Scale. Break even. I didn't lock break even in since I was so many pips ahead, I though the trade would keep going and then when it went negative on my entry instead of exitting I kept saying to myself it was going to turn around any second. Finally doubled down, without understanding the entire trade already.
All in all i was the biggest idiot around. Left holding the bag with my teeth kicked in.

Lesson be a professional not some amateur douche holding the bag.



I need to recommit 100%
This week I am going to make sure I am around for every 'spot trade' at that special time.
This will mean I will not react to price. I will put in the research and if I have not put in the work will not pull the trigger. I need t0 recommit every day and each time I turn the computer on I will reread a set of rules before I trade. I am going to get a 3x5 card and tape it to my keyboard to read and reread through out the day. Part of the problem this week that I believe led me to this bad trade was I had to buy snag it, delaying my posts in this visual journal that focused on posting solid trades, that concentrated on good entries, and making pips. I also noted my spreadsheet timetable combo for my monetary goals which I was on track for this week. This bad combination led me to this chasing price cause I wanted money, not locking in profits as I said I would do once I was in profit cause of greed, then being an idiot when I didn't exit on breakeven or close and lastly being a bigger idiot by doubling down. This is truely the worst trade I have taken in a long time. what a loser.


This coming week I will keep the same size since I made the idiot mistake instead of aising it as I had scheduled. If I lose 5% anytime this week I will ratchet down to 1/3. If I trade succesfully this coming week by executing solid trades, post my trades, journalize my trades, then I will consider increasing my size the following week. trades
I will focus on quality trades with setups, exit strategies and pips. Profit is a by product. Pips are what counts. Money is all relative. I am a professional I will trade as a machine.

Faded the move up today at last call of NY.
Actually had the NY time wrong in my mind and thought we had another hour.
+16
+12

Took a trade monday,
+15 with 2/3
+70 with 1/3

Took a trade last night, it was decent, wasn't working out so I was moving my sell limit to get out. For some weird reason my bid and ask were 3-8pips difference, with the bid being higher. When I finally took a market order to exit it filled me at the bottom of that swing.
-13

Weekly Questions

1. What will I improve on this week?
This week my goal is to increase my lot size and to continue have a quota of 15pips a day. The scale is to cover 2/3 at 15pips and to let the last 1/3 run or be.
I will also accurately measure and post my daily % profit and loss in my blog.

2. What was I most proud of this week?
Consistant wins, while minimizng loses.

3. What was my biggest accomplishment this week?
Stuck to my plan, made a few pips, and scaled at 15pips.

4. What have I done to get closer to my life goal this week?
Put in my work for trading, and made a few pips.

5. What was hard for me this week and why?
Been a little busy, even though I was off.
I also had a few times I had difficulty pulling the trigger, to get over this I will insure I do more demo trading in especially in those instances of uncertainty.

6. What was my biggest waste of time this week?
Friday, I missed.

7.What did I do this week that made me ashamed?
I slept in a few times even thugh I knew the NY session offered some great oppurtunitites.

Today I am up about 38pips. After commisions, that is approximately 1.75%. The percentage and dollar amount is not as important.
All I need a day is 15 pips to build my wealth. Size is adjusted according to risk.

Break of Psychological # 1.4000 in EUR/USD

Took a small shot here. Used my stochastics, and scalped. Note the macadoodle cross which immediately turned the second half of my trade into break even.

Short from 1.39848

Exit1 1.3973 = +11.8

Exit2 1.39837(breakeven) = +1.1

For the trade below, the profit max in the 1min till the stochastics crossed below 75 would have been 24 pips. I only jammed a quick 3 pips. Not very good, but lesson learned again. Scale profits. Since I used the 5/8 and stochastics to enter, I should have used them to exit/profit after I jammed my quick scalp.

USD/JPY Scalp

Scalp, waited for the stochastics- in and out, took complete profit too soon, should have took half at 3-4 pips and waited for the rest to run to till stochastics began rolling over in the 1min which would have given me 14 pips. Note macd in multiple time frames the 1/5/15 was against me, thus my reasoning to in and out.

long usd/jpy @ 107.635
exit @ 107.67
+3.5 pips

More detail on that EUR/JPY

The NY session with E/Y definately coorelates to the S&P/Dow futures. Check it out and run the charts side by side.

What was really lame about that trade earlier was I was stopped out at the top, but I took the system mechanically as stochastics was rising.
The 3rd entry was 2.5x the 2nd entry allowing me to profit immediately as stochastics was turned down and we were bouncing off resistance.

1. Stopped out -5
2. Profit1 was taken at 18, for a +23,
3. Profit2 was taken at 31 for a -21, but averaged out was a +1

It's complicated, but I was able to make money, a little over 1%.

Took some shorts in the Eur/Jpy.
-5

then some averaging down for a profit.

First shot is a missed trade I noticed developing, my hand was on the trigger, but I hesitated. Note all the tell tale signs and the small risk to reward. It immediately dumped 30pips from where I hesitated on entering.
No pips, no trigger.


This second chart shows a trade I took, off that earlier trade, a second chance. I took some time to take off, macadoodle was against me before I took the trade, but I did lock in 14 pips for the first scale and the other scale is now plus 55pips.

+15 pips

+45 unfortunately I put my tto too close and got plucked though it is nice profit.


The scaling is working better for me. Allowing psychological satisfaction
and letting some run.

London Session
Pulled a few pips out of London on the EUR/USD. There were a few traps, but I wasn't seriouslly into th market tonight.
EUR/USD- double top, after a triangle break, entry was a little early. Scaled, I should have anticipated the scale and locked 15pips in right away...
+11
+2

pulled some out...so cool.

Scaling Lesson

1 trade in the pre London.
-5 pips, trade had two options, as it turned I exitted.

1trade NY of Eur/Usd -Double Top, waited for the 1min stochastics to roll into the trade zone(below 75), the trade wiggled around, it was Pre NY so we were at the point of going long or short, at the peak of my trade I had +44 pips. I waited for the larger move, but got shaken out. At this point (800am HI) if I had kept the trade at break even I would be up 220+ pips. Lessons, scale. When in the profit, project a point to scale, then be comfortable with letting the rest run to reak even. Part of this to note is time of day. We were at a market open.
+16 pips

Here's the EUR/USD trade

Some thoughts on oil

77-88 to me looks like a good area for support to come in.

Missed this pnf chart, I had it under my candlesticks and failed to check it. 50pip move here.

Lat entry on this, I was watching it for 2hours for this entry, but it didn't line up, I took the GBP/USD coorelation on this EUR/USD trade

entry1@ 13
entry2@ 17
avg entry@ 15

stopped out at 10
-5pips.
Somethings to note: my kid came home right at this time, so had to leave my stop at 10, I could likely have averaged down for a profit since my size was really small and walked away with a profit even on a 3pip bounce from 10.

Also note, rising trendline was respected when in fact i expected a lower support, then note the pnf chart of double bottom(the dbl bottom line was not drawn yet, but it support was there for the dbl bottom. Swing point to swing point was 50pips. At the peak of my trade i was in a net +10pips. Due to the late entry I should have recognized the coming support and scaled atleast half.

Shot of S&P 500, we could have a USD bounce, also note the increased volume on the daily candlestick chart, but failed to make new lows, signaling a possibility of bounce at support.

Nice Euro push

2 missed trades, posted for my experience.
1st one at midnight London(6:00pmHI), breakout to the downside.
2nd one, a reversal, note the bottom at Daily s2 and the time it cooincided with London Lunch. London boys cashed some out before lunch, then came back 2hours later as the NY boys begin rolling in to their offices, "o we hit the D s2, lets buy low and sell high"
Which also goes with HL, macd cross-stoch, and the 50% fib.
Good chart for a variety of lessons.

Scalp the CANUCKs

Scalp, in at 106.90-
exit1 @ 63(1/5) = +47
exit2 @ 70(4/5) = +40

Chart correction on news trade

News Trade

News trade here. Got filled late, used a limit order, and a market order, it missed my limit order, then my market was filled at 90...exitted at 04 and 11.
+14
+21

Lame on the late order, only half my size as my limit order was not filled.

Fibonnacci Entry

AFK...but here is a good one if i was around.

A good learning experience

Another missed one.
But what ever...you can't get them all. One of the primary purposes of this blog is for my own development, thus I post both missed and taken trades. I switched to the pound right as it was triple bottoming and missed this one, there were a few chances for a reentry, but then my kid came over and thus I was not able to keep a close eye on things. At this point it is a +60 pip move.

I had no homework done on this and was about to do so...when i switched it was around the triple bottom around 1.7708. This is my type of set up though, point and figure showed a double bottom(weak, but taken in context a reasonable chance of bounce). Note the respect of the prior trendline.
The risk to reward was very good. Maybe 10pips at most, likely less with a box break on my point and figure chart.