Business Plan

And up she went. Unfortunately, I missed the train. Still bearish. Don't think she go lot higher. Watch news and sentiment over the weekend. Look over the landscape Monday. Hope all have a wonderful weekend.

Hey Jim,

One for you, Have a good weekend.

When you post 4hr - less, copy and keep at hand for next few days.

For those of you starting out and serious bout trading, visit Mr Scotts crayon thread. Excellent thread run by someone who makes money in this business. Have known Mr Scott, Lalu and Squawk for awhile and they got good stuff. When visiting observe a lot and speak little. You can make money in this business, but it is like any other business. You have to learn how it works, spend hours and hours studying it, develop a plan and execute it. As I have limited time, I only trade EU. I live with it. I have spent couple thousand hours studying (and agonizing over) it. The charts live in my head. I can look at the current price during the day and know precisely how it looks on the chart. I take my FX business as seriously as I do any business. I have a plan, keep a diary and write a brief outline first of every week. I trade as little as possible to reach my weekly objective. I work to simplify it. It only goes up and down. My brain constantly tries to complicate that very simple fact.

What I am looking at.


On this daily one can see it is getting very compressed. Something bout to happen. What interest me most an the daily is this very obvious head and shoulders



I will be watching this at the Tokyo opening. Love these wedges. Think Mr Scotts chart above gives limits to how high she might go. I am overall bearish at this point.

Let me conclude with the fact I don't have a clue where my lady is headed. I am a scalper at heart because I follow rather than determine as I have not developed the skills have a accurate prediction of movement.

Don't normally open trade at market open. Generally wait for Tokyo C where she go. Looked at futures bout 45 minutes before market open and it showed 1636 -- 50 pip gap down. Phone price service confirmed, however market back to normal at open. Told me something probably afoot. Market started dropping at open so I entered reduced risk. SL just above the high and take profit at the last dip. Worked out well.

Have turned neutral on EU till I C how she break out of this compression. She just don't seem to want to go down and stay at the moment. Prolly do bit high risk scalping till I know how she go.

Sometimes she gives, takes back, then runs back into profit. I don't normally run a stop this close but gold way up, EU not. Market jittery. Me 2. Done for the day

Guess who's gonna win.

DAY JOB. Homes in this section on one of the best parts of the lake. Small section, small footprints, 3 stories, elevators. Bigger than they look. That is a 4 car garage and laundry area on first floor.

What I'm looking at this week.




Expect it to range in this neck area between 1500 and 1900. May range couple weeks. Not much news this week. Lot of draggi yakkie. Some news on Thur. Won't be posting many trades next couple months. Very busy and my charts not much help to anyone since I scalp mostly.

Looks like a Marine started this thread but hasn't been around for awhile. I too am a scalper. Only trade the Aussie at the moment and use the 4 hour chart as a basis of trade. Will stick around here till thread starter shows up and tells me to skedaddle!

Couple of the days trades:

Last trade of the day. Figured she run out of steam for the day. Prolly run up the hill a bit fore jogging down again.


How I plat the chart every week. White line first period of week. Red 2 hour crossover, yellow 3 hour crossover green 4 hour crossover and blue 6 hour crossover.

Missed that nice jog down this AM. Busy with something else. Got some "leftovers" after the FOMC. Aussie good for 2-3 good paychecks a week, but discipline and timing everything. U cant scratch ya butt and think bout it when she decides to move. Ya gotta jump on and jump off when move ends because the bulk of a move generally lasts 2-4 hours. Probably stand aside day or two -- not sure what she wants to do.

Attachment g

Aussie provided some very nice profit trends this week for those on their toes. Think downtrend will resume next week. C what London and NY do with her Monday.