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Binary Forex Trading Journal

  • #121
  • Aug 31, 2009 9:13am Aug 31, 2009 9:13am
Got into a buy of EUR/USD > 1.4240 right before the spike this morning. Going for another 5% on my account.
  • #122
  • Aug 31, 2009 10:09am Aug 31, 2009 10:09am
It's been a family day for me so haven't been able to get any decent screen time.

Hopefully, I'll be in touch this week if you're still interested.
  • #123
  • Aug 31, 2009 10:17am Aug 31, 2009 10:17am
Quoting PeterFM
It's been a family day for me so haven't been able to get any decent screen time.

Hopefully, I'll be in touch this week if you're still interested.
I definitely am. I think I saw where I was going wrong before as far as the S/R lines, but I'd still like to make sure.
  • #124
  • Aug 31, 2009 11:19am Aug 31, 2009 11:19am
Well, 100 pips in the green and it seems to be ranging now, so I should be good on that trade. Still playing catch up but playing it a little better than I was before. Am I wrong or is NFP this Friday?
  • #125
  • Aug 31, 2009 11:31am Aug 31, 2009 11:31am
Quoting lucashammer
Well, 100 pips in the green and it seems to be ranging now, so I should be good on that trade. Still playing catch up but playing it a little better than I was before. Am I wrong or is NFP this Friday?
That is good to hear lucashammer. How are you picking your trades now? My trades are not able to withstand these spikes we have been having, even though I have picking paying attn to new and pa and picking them late. This Friday is NFP.
  • #126
  • Sep 1, 2009 6:45am Sep 1, 2009 6:45am
Quoting cmoon10
That is good to hear lucashammer. How are you picking your trades now? My trades are not able to withstand these spikes we have been having, even though I have picking paying attn to new and pa and picking them late. This Friday is NFP.
I have been picking them based on support/resistance and nothing else but trying to predict the price action. For example, for today, I see a daily resistance point of 1.4340, so I took a sell of EUR/USD > 1.4360. Now that hasn't always helped, but it has increased my odds. Now if I could just pick them in the right direction (I say as the price keeps climbing...)
  • #127
  • Sep 1, 2009 6:52am Sep 1, 2009 6:52am
I have three barriers it needs to break for this to lose (nothing certain, of course).

I did go for a short-term long on the SB account but the Buy Limit missed by a pip at 1.4291 - should have been a bit more adventurous.

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  • #128
  • Sep 1, 2009 7:20am Sep 1, 2009 7:20am
Quoting PeterFM
I have three barriers it needs to break for this to lose (nothing certain, of course).

I did go for a short-term long on the SB account but the Buy Limit missed by a pip at 1.4291 - should have been a bit more adventurous.

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Adventurous is how I've lost a lot of money. I was nervous there for a few minutes, but it dropped after hitting 1.4342, so I'm feeling a little better about my call there.
  • #129
  • Sep 1, 2009 7:29am Sep 1, 2009 7:29am
As I'm grabbing odd moments in front of the screen, I'm not doing my normal due diligence.

I didn't check for news releases so if the trade had worked it would have been as much by luck as judgement.

I had my Support level all worked out and the take profit set and then I saw a post in the EU Redux thread and although (with all due respect to the folk in there) I never base my trades on someone else's call I did see a comment about the news release coming out. Normally I wait until that crap is out of the way and then assess the charts.

"Trade in haste; repent at leisure".
  • #130
  • Sep 1, 2009 7:55am Sep 1, 2009 7:55am
Quoting PeterFM
As I'm grabbing odd moments in front of the screen, I'm not doing my normal due diligence.

I didn't check for news releases so if the trade had worked it would have been as much by luck as judgement.

I had my Support level all worked out and the take profit set and then I saw a post in the EU Redux thread and although (with all due respect to the folk in there) I never base my trades on someone else's call I did see a comment about the news release coming out. Normally I wait until that crap is out of the way and then assess the charts.

"Trade...
Yeah, that's my problem. Work has become busier and busier which makes it trickier for my to find time to make my trades. Found myself making trades I probably shouldn't a couple of times. Luckily, my analysis has been correct more often than not.

ADD: Also, is it just me or doesn't the market usually do a lot of ranging the week leading up to NFP? If so, what the hell is going on this week?
  • #131
  • Sep 1, 2009 8:10am Sep 1, 2009 8:10am
100 pips +/-

If I use my brain and wait (working hard this last week or so to find the time) I can trade this type of market. But I'm waiting for it to show some clear movement away from this type of action. Then I can get away from the short-term charts.


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  • #132
  • Sep 1, 2009 8:22am Sep 1, 2009 8:22am
Quoting PeterFM
100 pips +/-

If I use my brain and wait (working hard this last week or so to find the time) I can trade this type of market. But I'm waiting for it to show some clear movement away from this type of action. Then I can get away from the short-term charts.


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I guess, it's a range, but still. I don't remember the last time I've seen this many 60+ pip hours.
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  • #133
  • Sep 1, 2009 11:23am Sep 1, 2009 11:23am
Well, my sell of EUR/USD > 1.4360 is good. By about 160 pips... Huge drop. Good for me, but it's making me pretty nervous about the volatility here.
  • #134
  • Sep 1, 2009 11:34am Sep 1, 2009 11:34am
So much for my range . Having missed the long trade earlier, I got the next two completely wrong. Dumb ass trades - small ones as it happened but I'm annoyed with myself for not sitting tight and waiting for the right signals.

I've spent months getting myself to this level and I should know by now that if I'm not watching the screens regularly I'll get suckered into thoughtless trades.
  • #135
  • Sep 1, 2009 11:48am Sep 1, 2009 11:48am
Quoting PeterFM
So much for my range . Having missed the long trade earlier, I got the next two completely wrong. Dumb ass trades - small ones as it happened but I'm annoyed with myself for not sitting tight and waiting for the right signals.

I've spent months getting myself to this level and I should know by now that if I'm not watching the screens regularly I'll get suckered into thoughtless trades.
Oh wow, sorry to hear about your trades. The problem with any buy orders today is that the price shot straight through any supports that were along there.
  • #136
  • Sep 1, 2009 12:15pm Sep 1, 2009 12:15pm
Dumb-ass trades are Dumb-ass trades and you get everything you deserve.

End of story, but thanks anyway .
  • #137
  • Sep 2, 2009 5:18am Sep 2, 2009 5:18am
Well, another day is going and I'm trying to decide if I should trade before the FOMC minutes today. It has been a wild enough week that I could see a big jump with about an hour to go today... Can't decide. Anyone else have an opinion on that one?
  • #138
  • Sep 2, 2009 7:07am Sep 2, 2009 7:07am
Quoting lucashammer
Well, another day is going and I'm trying to decide if I should trade before the FOMC minutes today. It has been a wild enough week that I could see a big jump with about an hour to go today... Can't decide. Anyone else have an opinion on that one?
Last time the FOMC released an update later in the day I traded it and the movement was much larger than I expected I would not trade until after the market settled down if it settles. I am still following this journal and I may paper trade again for awhile but as far a trading real money I am sitting out on Binaries for now.
  • #139
  • Sep 8, 2009 11:30am Sep 8, 2009 11:30am
So everyone knows, I'm still here and trading binaries (if I get a chance). Due to work, I have no way to watch the prices throughout the day, and since these are all pretty much intraday trades, I haven't been able to trade for the last week. I also read Peter's "My way of helping Newbies" thread from his signature and decided I might try a few new methods on the spot forex market using daily charts (which should work much better with the whole job thing), but each time I do make a trade, I will post it in here to keep everyone updated with my results. Hope the rest of you are doing well.
  • #140
  • Sep 8, 2009 12:03pm Sep 8, 2009 12:03pm
I was only thinking of you today and hoping there was no bad news stopping you from posting.

Look forward to seeing how you develop.
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