Casual Trader's Journal

ok brother, i did the "secret" trade on 2 out of my 3 open positions. oh wait a second.... 2 of them are not open anymore because they closed with some bitchin profit!!!! however my 3rd one is still in play. we shall see, my compadre. we shall see!
 
superman syndrome, i like that! Hopefully my EA's don't learn to have feelings lol
 
ok brother, i did the "secret" trade on 2 out of my 3 open positions. oh wait a second.... 2 of them are not open anymore because they closed with some bitchin profit!!!! however my 3rd one is still in play. we shall see, my compadre. we shall see!

Ha ha!!
Great job dude!
 
Closing down 1.5% today. That loss is not too difficult to make back, so while it's a loss, it's no show stopper.

Missed a couple of good trades and made a couple of not so good trades.
 

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yeh today's a bit trickly, im long eurusd 1.314 but have a stop 1.29(swing trade) and get the incy wincy feeling FOMC tomorrow is going to spur a directional downward movement , though i think it'd be just a pullback and i put 1.29 as a stop as i think that's out of volatility. stock indexes are tricky too-DAX is at highs, sp500 is kind of trending up but not really, we have professionals disagreeing, goldman downgrading economic expectation the next 2-3 weeks are big decision makers imo
 
Got out a bit early again but I am one happy camper, made just north of 10%.

"Fade the fed" has been working for 10 years that I know of and it worked again tonight for me! :clap:
 

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Flippin awesome bro! i watched as she dropped like a rock and dropped and dropped.......and dropped again with no pullback. woot woot for the cash you earned today!(y)
 
Thanks man!

I wanted price to get just a bit higher so I could add some more lots to my short position, but it no complaints here - the trading tonight worked out very well!

Congrats yourself bubba - I see you had a fantastic night as well!Keep it up!
 
Made another 8% on the EUR - looks I exited early again but so what! I took my little piece of the pie and am very happy to let the late to the party traders chop it out for a bit while I wish them best of luck! :)

From now on, I plan to start working on refining my exits .

I plan to stick with what has been working as far as scaling into and out of my trades. Basically I will try to do a better job of not being too quick to scale out too soon for a while and see how that works out.
 

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dude i took the same trade however i went in too early. made a handful of pips but you waited. good for you!
 
Ya, we fell out of my blue shaded area (congestion zone, monthly chart). I've had the bottom (support) of that congestion at 1.2930 for a long time and I completely missed trading the "first touch" of that level.

Depending how price approaches that level when/if it gets tested, my expectation is that it gets sold again.

I attached a little T/A showing how well trading to levels can work as demonstrated on the 15 minute chart.

Monthly chart shows the congestion shaded in light blue. Lower time frames confirm that the 1.2930 area is now a formidable resistance area.

Always remember that lines on a chart can very well turn out to be.....well, just lines on a chart lol.

All this is nothing more than MTO and FWIW :)
 

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Ended the session happy I don't pay commissions lol. Pretty much a nothing day.

I started out with about a $65 loss before I went to bed and was happy to have only lost that much.

I woke up this morning and traded my way back to only about a $5 loss so I made about $60 back, but if FXCM would have filled me when I exited, I would have been up about $10 for the session.

There was about a 7 second delay between hitting the exit button and actually getting out, that delay cost me about $15.

Then I did something I don't usually care to do, I switched over to USD/JPY (I prefer the "personality" of the EUR) and saw a much better trend to trade so I got in short, just long enough to get myself to break even.

I'm still hoping that we get back up to the 1.2930 area - the sooner the better for me.
 

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Tack on another 3% and the night is young! mmmmmuuuuuaaaahhhhaaahhhhaaahhhh!

Money management vs stopping out and a good read on the chart worked again.
 

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Hey Rocky

perhaps I missed this - can you explain the ma's you are using and the other supporting indicators please ?

thks
N
 
Well, to tell you the truth, you didn't miss anything - it's just that no one ever asked before so I never posted them. Also, have not shown my primary trading screen. The main difference in my primary trading screen and the one I post is that my primary has 5 different time frames with volume, all on one screen. Download Metatrader4 and use it - that's all I did.

First and foremost, I use price action and how it reacts when it approaches MAs and / or levels that I deem as being important. So far, the levels I deem as being important levels have proven to be accurate about 95% of the time for me.

Next, MAs are pretty much useless unless they trend. A flat moving average not only equates to a flat market (not trending) it also means I expect them to fail as regards to them being a reliable support or resistance.

I just want to be sure to clarify that before going further.......a flat MA = a useless MA.

In the charts I've posted, you are seeing MACD set to the std 12,26,9 and RSI set to 21......I am thinking about removing them completely since I rarely even use them except for monitoring them for possible divergences.

You will also see daily pivots that are automatically supplied by FXCM - they work well most of the time as well.

My MAs are standard MAs as well, 20EMA and 18EMA are more often than not, "the bible" for me. I also have the 80EMA, 200SMA and 50 SMA. I always have these MAs on all time frames and all charts and time frames - stocks, futures, FX - whatever.

I also use volume on my other screen, something that many traders disregard. I find it useful, but only mainly at extremes.

Hope this helps!
 
Tack on another 7%! :clap:

I took a confirmed break of the 20 on the hourly chart. I know that I got out early but who the heck can complain about a 7% gain?
 

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Still watching that 1.2930 area for a possible swing short - may never get there as long as the 1.2900 area keeps holding as resistance.
 
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Before I left for work yesterday, I placed a limit sell at 1.2925 - just below that 1.2930 level I've been watching - I missed catching this latest plunge because my limit order was 1 lousy pip too high. :cool:

Oh well, I may have missed yesterday's plunge completely, but still managed to eek out another 2% today!
 

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