Personal log... Suplemental....

welshsteven said:
definatly addictive, i've got to limit my self to 12hrs a day, other wise my eyes will go square! having problems atm! lol... i love it tho 🙂 no where near what you are at tho mate, i'm still in the hundreds of pounds trades! never mind thousand! good on you!! how have you found the Cable market? GBP/USD
Click to expand...

You limit yourself to 12 hrs a day?!?! 😱 :whistling Man, I'm trying to get at least a few hours in the wee morning hours and a few more late night and I can FEEL it after a few days! You're stronger than I! 👍

Here is a trade on GBP/USD using the K strategy... This pair can be a monster mover on ya! Can't sleep well with open trades on here. Moves up on ur stops right quick!!!

Tell me what you think, Steven!
 

Attachments

K Strategy (as I have been using it...)

Generally, from what I have observed on the forum from Karmo and others and comparing it to my own charts, H4 is the big one to look at. Here is what I understand:

QQE cross (Higher the TF, the stronger the signal)
D Good for overall confirmation of trend
4H Agree
1H Agree
30M Agree

Gann (Candle 0 clearly above or below)
D Good for overall confirmation of trend
4H Agree
1H Agree
30M Agree

Fib Retracement on the WK, D, H4 and H1 looking for overlap of these to be careful of or exploit strong S/R levels.

Use of the 5 SMA on the 15, 30, 1, 4 TF for re-entry on the dips and bumps to follow the overall strategy. Other MA's such as the 50 and 200 are also used.

Utilize the 4H and D chart for overall channel of price movement. These will also provide a good breakout point keeping in mind the above...

I'm not the Master Geppy tamer yet but that's why I'm skinnin' my teeth on it!
 
BTW:

I also like to use WEEKLY and Daily Pivots on another chart to check on S/R levels...

😴😴 I'm not thinking straight... I'm jumping in on scalps when I should be just focusing on longer term day trades.... It's hard when you feel like you have cotton for brains... 🙄
 
Currently, GBP/USD is looking quite bearish, LT. If the price breaks downwards through the Daily S1, 1.56689, then the next stop could be Daily S2/Weekly S1 @ 1.53500.

If I can enter that trade.... 😈 😈 😈

We shall look and observe...
 
USATrader said:
Currently, GBP/USD is looking quite bearish, LT. If the price breaks downwards through the Daily S1, 1.56689, then the next stop could be Daily S2/Weekly S1 @ 1.53500.

If I can enter that trade.... 😈 😈 😈

We shall look and observe...
Click to expand...

Looks like it's tanking now... I'm in Short at 1.58464, see if it gets close to the 56689...
 
USATrader said:
You limit yourself to 12 hrs a day?!?! 😱 :whistling Man, I'm trying to get at least a few hours in the wee morning hours and a few more late night and I can FEEL it after a few days! You're stronger than I! 👍

Here is a trade on GBP/USD using the K strategy... This pair can be a monster mover on ya! Can't sleep well with open trades on here. Moves up on ur stops right quick!!!

Tell me what you think, Steven!
Click to expand...

Well I've bought a laptop and a tablet touchscreen computer along with a mobile broadband hook up so i can keep an eye on my trades all day everyday weather in work or out on site or in the gym, I wake early set up my s+r's, update trading records and read my plan, sync my computers up, then go ahead with my daily business! lol... unless i'm off work then i'm here at the desktop with square eyes! lol... is more addiction than strength! lol...

Right well i've looked at your chart and it blow my mind, you've got so much stuff on your screen I would suffer from head ache! lol. i keep my trades as simple as possible with day trading major s+r's and watching for breaks. only use daily pivots and 34 55 200MA's for short + long term trends ... I dont know what to make of your chart though! haha. sorry dude! your way outta my league...

haha....👍👍👍
 
welshsteven said:
Well I've bought a laptop and a tablet touchscreen computer along with a mobile broadband hook up so i can keep an eye on my trades all day everyday weather in work or out on site or in the gym, I wake early set up my s+r's, update trading records and read my plan, sync my computers up, then go ahead with my daily business! lol... unless i'm off work then i'm here at the desktop with square eyes! lol... is more addiction than strength! lol...

Right well i've looked at your chart and it blow my mind, you've got so much stuff on your screen I would suffer from head ache! lol. i keep my trades as simple as possible with day trading major s+r's and watching for breaks. only use daily pivots and 34 55 200MA's for short + long term trends ... I dont know what to make of your chart though! haha. sorry dude! your way outta my league...

haha....👍👍👍
Click to expand...

Your right! I just looked at the chart I posted and it is cluttered! I should clean up a little if I'm having company! You got some tech gear! I'm stuck in front of my PC! Altho' I got (3) Monitors on my office PC! That Helps spread out the clutter!
More like way outa my mind! 😉 What have you been looking at LT for your pair? LT to me would be for the week or next week...
 
USATrader said:
Your right! I just looked at the chart I posted and it is cluttered! I should clean up a little if I'm having company! You got some tech gear! I'm stuck in front of my PC! Altho' I got (3) Monitors on my office PC! That Helps spread out the clutter!
More like way outa my mind! 😉 What have you been looking at LT for your pair? LT to me would be for the week or next week...
Click to expand...

haha, yeah I find when the clutter is gone it's easier to make good decisions, clear cut one's any way! taking into account only the major contributory factors!

right!!... what! lol. excuse me but what is LT?? lol...
 
What I've been up too....

I was given a Red bull by a friend in the afternoon yesterday and helped me stay up until @ 2:00 am. Thanks Charles!

Got some good move on the Geppy but yesterday/last night this Pair went neurotic!

It was flying up through resistance, MA, and such as if they weren't there!!!!😗whistling:whistling

I was waiting for it to continue to tank but GBP/JPY just went +. 🙁 against the technicals. 😡 I could have rode some of it, but was weird trading a move that didn't correspond to TA.

Waited most of it out, since there was no ryhme or reason for it. Looked like GORILLA players (banks, governments, etc) were moving the market for a couple of hours. I saw (1) 1H candle move 500 points!!!😱
In 3 hours, moved around 700 points!!! :whistling

I'll be studying the charts this weekend preparing for next weeks GBP/JPY shorts! Looks like it will tank to @138 level, bounce, then back down to @130. I'll hone the numbers, but it looks like a good swing trade!

I am also trying out other strategies on demos' and I will be trying out the Sonic EA running 24/7 next week and post results. Possibly set up a server to run this EA on multiple pairs.

Tonight tho', I'll get some good, 😴😴😴
 
Last edited:
welshsteven said:
haha, yeah I find when the clutter is gone it's easier to make good decisions, clear cut one's any way! taking into account only the major contributory factors!

right!!... what! lol. excuse me but what is LT?? lol...
Click to expand...


Sorry Steven for taking a while to get back to you, :clover:

What I meant was, what's your preference on Time Frame for your positions. Long Term, to you means, a few hours, days, months?

I've been trying out GBP/USD as well and looking promising. Do you know which pair relate to this pairs price movements?
 
Thinking out loud...

Now, if I had kept some long term trades cooking from late October, 😗whistling👍👍

I had positions on GBP/JPY at 160 and the price last night dipped to 138.
That's 2200 pips right there buddy!!!
.1 mini lot= $2200 US
.2 mini lot=$4400 US
1 lot = $22,000 US
2 lot = $44,000 US

And if I had a short position from late September at 198 til the dip last night at 138, it would have been 6000 pips. And I would have kept a short position from November 2007 at 238 that would have been 10000 pips.....

And so on, and so on...😆

Now, I would have taken partial profits, of course on the way down, and left possible a .2 mini lot on, that would probably have been what I could do.

I'm angling at looking for Monthly positions and moves over a quarter or 1/2 year, possibly. The only issue is Stops along the way, I'll have to calculate my positions and how much is needed to fund the account.
My basic calculation is about $2,500 to open one .1 mini lot position. Basically, around 4% of the account.
With 1 standard lot size, around $25,000 per open position. I'm trying to be conservative with my risk exposure.
I'll be mulling over the benefits and possibility of really long term trades with positions closed with a minimum monthly time frame...
:?::?::?: train of thought to be continued....
 
Last edited:
Still thinking...

Some have also argued that the price volatility also provides an excellent and better opportunity to make profit on the support and resistance levels the pair bounces on during the day. More than likely much more profit on the dips and rises of the currency during the day and week.

Need to consider some more... :idea::idea::idea:
 
Also am liking the IBFX. Except for that hiccup on the demo account, they seem to be a good broker.

Also looking at an ECN account, although actual currency pricing is more accurate, usually require a hefty sum to open an account.

😏
 
USATrader said:
Sorry Steven for taking a while to get back to you, :clover:

What I meant was, what's your preference on Time Frame for your positions. Long Term, to you means, a few hours, days, months?

I've been trying out GBP/USD as well and looking promising. Do you know which pair relate to this pairs price movements?
Click to expand...

No problem dude, Right got you now! I day trade on the 15m chart and sometimes the 5min chart. but keep an eye the larger time frames for bigger conforming Res' Sup' Chanel Lines of course!!

also USD/CHF is inverse to GBP/USD and EUR/USD conforms to it! These are two i watch and use as an indicators when entering a trade from TA!!
 
welshsteven said:
No problem dude, Right got you now! I day trade on the 15m chart and sometimes the 5min chart. but keep an eye the larger time frames for bigger conforming Res' Sup' Chanel Lines of course!!

also USD/CHF is inverse to GBP/USD and EUR/USD conforms to it! These are two i watch and use as an indicators when entering a trade from TA!!
Click to expand...

Excellent! I'm putting up those (3) pairs and will follow the price movements and post some screen shots...👍
 
I've been trading several positions since yesterday and seem to try to jump the gun on entry. I need to hone my entries. When I want to jump on the bus, I'm jumping in front of the bus and getting flattened!😱:-0
 
Last edited:
You must log in or register to reply here.

Similar threads

N
Trading your personality
2
Replies
20
Views
9K
TFA
TFA
R
Last Thursday I am achieved 142 pips
Replies
6
Views
2K
MrMiyagi
MrMiyagi
N
Simulation as a tool for tuning strategy and money management
Replies
4
Views
545
noriav
N
A
Personal trading weaknesses and how to cure them ?
2 3
Replies
44
Views
8K
china white
C
B
Sensible? Or not...
Replies
13
Views
2K
Paul71
P
Back
Top