This is one of my bad habits I overanalyze at times and think too far ahead. Originally I talked about shorting in the blue areas and one was perfect. But I did not take it and was looking at a reversal on the EY which I did take but was a loser. Now call it ring rust as I have not been able to trade as much as Id like to lately. So just a reminder follow your plan, then shut up and trade it. Also this stategy is meant to follow the trend and not to look for reversals so yes that was a counter trend trade and should have not been taken.
There is big news coming out soon and I wil be waiting for it. Once it does it should push price on one side of the blue boxes and will be looking for longs above and shorts below
This type of trading allows you to take tight stops but you are taking tight entries as well right now the euro is just below my 77 but I want an entry in the 80s. Now I can take this but my stop would increase in turn decreasing my leverage. Now the reason for having my leverage the way it is, is that if it looks to be a short run meaning low amount of pips I can take it off at +10 and still make a 1% trade. Also the GU had some price action on the last candle that had a doji followed by an inverted hammmer very good indication for it being a top in the order it was. Now I am back to one screen at the moment still looking for a good card. would be up roughly 10 on it right now. Looks like Im going to be working the next few weeks and not too worried about the card right now.
Well I took 9 and change on this one seemed like it may want to continue up still looking to short again at 90. Now the reason for me taking pips is because the two bear candles are similar to a continuation formation and I ddint feel like going BE at 9 pips so turn out on the week so far is BE one loss yesterday and this cancel each out
Went and played soccer last night with some old buddies good stuff but I am beat. Got about 5 hours of sleep need a bit more snatched this and I fell asleep in it my alarm went off and out pure sleepiness exited the trade I think it may continue but this is a great run almost 60 pips and a pinch more than 5% This makes up for the two lackluster trades earlier this week
These are the mistakes you make when your sleepy this one is probably gonna hit my TP at 30 but Im out with almost 30 and a little over 2.6% Im done great day
This is the euro looking like the only one to make another move back up looking for price to come back to the box then I will be looking for longs. I think there will be at least one more push back up before the normal friday conoslidation starts.
I have no stop on this one at the moment because I am preparing to have to add at 40 and possibly at at 30 now my entrys are according basically .2 of a position at 57 and 40 then .6 of a position at 30
got impatient on that one and didnt wiat for my price lost .2 percent nothing serious but stupid mistake that is three this week two that were against the trend cardinal sin in this strategy. One that was in low volume time and way off of the mark that I set. Would have been right around 10% on the week if not for those mistakes. But I am at 5 and change so still a decent week. Its funny though every time I take a break or stop trading for any length of time (a week or more) I go through this so this is the last time I let myself do this. Im gonna get that card ordered today so I can get back on multiple displays its too tough to keep up on more than one pair with out them now im spoiled I guess.
Got a day to trade the Gu looks to be getting ready to set a long if it can get up to 5170 or better and hold than I will be looking for longs at 5140-30 area. The euro may follow suit however if the GU sets it is likely the Gy will be a good one to take longs soon also.
this should bring to light what Im planning here looking to catch the last wave the way it looks on the GU and maybe the GY. I wont expect a big move on this one but 30-40 pips very likely will Tp at 20 pips or go BE and look for the 30-40 now just have to wait on price
The euro has broke finally so longs are looking to be confirmed in my book. Not quite there yet but getting close needs to break above the orange box and then come back to the blue box lets go Euro and GU the yen crosses i may pass on today
Snatched 2 pips roughly on the euro this one seems to be changing direction so just gonna stop for the day see what sets up on the daily it looks interesting Im thinking it may start a new bear run but have to wait and see where the daily closes