Range & Courage | Daily planning thread

Fellow FX traders,

there are various trading styles, time ranges, so on. long term trading is the thoughtest to trade especially for individuals with not so large account balances. It also requires lots of patience, which is also very hard to stick to in volatile markets, especially if you carry highly leveraged positions.

what i will try to establish in this thread is that, will post daily trading ranges for majors, and will post overall pip counts (gain+loss) as a visual representation of outside range trading to make it easier for everyone to keep track of the gains+losses.

Will post the first range and graph to make it easier to understand shortly.

Wish everyone successfull trading.

Pip counts will be published several times per week, as often as everyday. Trades will be published several times per week, as often as everyday, after NY close, after 5 PM EST. Below is the pip count graph for the last 11 trading days. Wish everyone successful and profitable trading. Patience is crucial, as Range & Courage is

Trade results for July 4:

_____ Pair _____ Result _____
___ EUR/USD ___ -21 _______
___ USD/JPY ____ 0 ________
___ GBP/USD ___ -8 ________
___ USD/CHF ____ 0 ________
___ USD/CAD ___ 28 ________

TOTAL _________ -1

TOTAL Pip Count in 12 trading days _____ 875

Below is the total pip count graph:

Trade results for July 5:

_____ Pair _____ Result _____
___ EUR/USD ___ -56 _______
___ USD/JPY ____ 66 ________
___ GBP/USD ___ 58 ________
___ USD/CHF ___ -74 ________
___ USD/CAD ___ -42 ________

TOTAL _________ -48

TOTAL Pip Count in 13 trading days _____ 827

Trade results for July 6:

_____ Pair _____ Result _____
___ EUR/USD ____ 37 _______
___ USD/JPY ____ 40 ________
___ GBP/USD ____ -31 ________
___ USD/CHF ____ 31 ________
___ USD/CAD ____ -25 ________

TOTAL __________ 52

TOTAL Pip Count in 14 trading days _____ 879

Trade results for July 7:

_____ Pair _____ Result _____
___ EUR/USD ____ 13 _______
___ USD/JPY ____ 94 ________
___ GBP/USD ____ 100 ________
___ USD/CHF ____ 33 ________
___ USD/CAD ____ -68 ________

TOTAL __________ 172

TOTAL Pip Count in 15 trading days _____ 1051

Hello,

feel free to post. it would be a mixture i guess.

The trades are taken when the daily range gives away. The stop would be the opposite range border. Hence, the maximum loss is the range. The trades are liquidated before the NY close, namely 5 pm EST. There is no limit on the trades.

Is the bell tolling for the US Economy and the USD?

Here is an analysis by Jim Willie of the www.goldenjackass.com analyst:

"The tragic conclusion from my analysis is that the Treasury Yield Curve is flat because the Great Greenspan Gambit, his attempt to reflate the USEconomy after the 2000 stock bust, has failed miserably and unequivocally. The TYC is flat because .....

* THE USECONOMY IS EXPERIENCING HYPER-INFLATION IN COSTS
* RISING INTEREST RATES & FAST RISING COSTS ARE PROHIBITIVE TAXES
* THE USECONOMY IS STUCK IN A NEAR RELENTLESS STALL
* WAGES ARE NOT KEEPING PACE, AND CANNOT KEEP PACE

Accelerating credit is mandatory to maintain flat growth. With restrictions, the TYC will invert with a vengeance. This is the Weimar requirement, the Greenspasm reality."

Hi again, Are these trades you have made? Or available trading ranges? thanks again... I move this to the journal forum for better functionality> If you feel that is alright, otherwise, let me know... Scott

will publish trading ranges couple of times a week. the results of trades taken will also be published. would be glad if the thread could stay here, if thats not an issue.

regards

USD Index is up from 86.41 to 86.77. Today was one of the unique days, as a massive move happened after the London close, namely between 1 pm est to 4 pm est.

Exited all USD shorts. Will publish today's records, and post the total pips count graph in a short while.

As noted yesterday, expected volatility arrived today, during the last hours of trading, following two quiet days on Monday and Tuesday.

Trade results for July 26:

_____ Pair _____ Result ______
___ EUR/USD ___ 99 ______
___ USD/JPY ___ 66 ______
___ GBP/USD ___ 115 ______
___ USD/CHF ___ 95 ______
___ USD/CAD ___ 32 _______

TOTAL _________ 407

TOTAL Pips Count in 28 trading days _____ 2386

Despite the increase in the USD Index, USD showed weakness across the board today, EUR/USD rallying above 1.2700s following the EUropean close.

Today sets a new high for the total pips count, at 2386 pips in 28 trading days. Last high was 2004, established on July 17th. Weekly target of 2250 pips is behind us now. Next target would be to hold the gains of today, and put a bit on top, ending the week above the 2250 mark.

Below is the total pips count graph:

Trading Range for July 27, 2006:

xxx

Right after the NY close, EUR/USD jumped 10-15 pips.

EUR/USD is overbought now, but still has more room to move north, especially, given all other crosses have much more room to squeeze the USD.

Went long EUR/USD, following the break of the upper border.
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Closed XAU/USD short taken from $658s, and went long with stop around $610-615.

long in GBP/USD, EUR/USD and short in USD/CHF. Waiting to short USD/JPY and USD/CAD.

watch USD/CAD to go below 1.1320, and USD/JPY to go below 115.90. USD could be squeezed again today.

Went short in USD/CAD and USD/JPY as noted earlier today. These trades now confirm USD weakness, along with long EUR/USD, GBP/USD and short USD/CHF.

Today should provide more USD weakness, and we could see EUR going above 1.2760s. Currently long in XAU/USD, too, with a stop around the $615, which will higher at the NY close. Watch Gold to move higher today.

Still USD shorts. Believe the spike will end up moving the EUR and GBP higher.