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My simple journal... Read at your own risk.

  • #41
  • Nov 13, 2006 6:52pm Nov 13, 2006 6:52pm
Oh yeah... Thanks for save, andersen!
  • #42
  • Nov 14, 2006 10:16am Nov 14, 2006 10:16am
I booked +44 for my daily range. Freakin PPI came out and stopped me out only to turn around and it's currently sitting around 1.8940... about 10 pips from my third profit target. Oh well... the old me, would have jumped back in, most likely at the wrong time, and lost a bunch of money due to chasing the trade.

Daily range for the week: +168

Priscan system - I closed my GBP/AUD trade at -176 pips this morning as it was heading way too far in the wrong direction. So far, it seems like a good idea, as it is 30 pips further from where I closed it. That hurt bad. I'm still not sure if I'm implementing this system correctly. Anyway...

Priscan for the week: -117

My EUR/AUD is hurting right now. (about -50) I'll wait until tonight's midnight daily candle close to see if I should hold on to this one.
My NZD/JPY is ar 38 pips profit.
I opened EUR/GBP going long last night that is doing great (+38). That is quite a move for the usually stagnant pair. I feel like banking it. I'll keep to the rules on this though.
I want to look into the PSAR and how that works for better exits on the system. MuddBuddha suggested that somewhere in the forums, and he/she seems to be highly regarded as a trader. Hey - if it can help me hold onto a few more pips... why not.
I placed it on one of my charts and was like what the f...! So, I got some learning to do.
  • #43
  • Nov 14, 2006 1:19pm Nov 14, 2006 1:19pm
Quoting brick911
I booked +44 for my daily range. Freakin PPI came out and stopped me out only to turn around and it's currently sitting around 1.8940... about 10 pips from my third profit target. Oh well... the old me, would have jumped back in, most likely at the wrong time, and lost a bunch of money due to chasing the trade.

Daily range for the week: +168

Priscan system - I closed my GBP/AUD trade at -176 pips this morning as it was heading way too far in the wrong direction. So far, it seems like a good idea, as it is 30 pips further from where I closed it. That hurt bad. I'm still not sure if I'm implementing this system correctly. Anyway...

Priscan for the week: -117

My EUR/AUD is hurting right now. (about -50) I'll wait until tonight's midnight daily candle close to see if I should hold on to this one.
My NZD/JPY is ar 38 pips profit.
I opened EUR/GBP going long last night that is doing great (+38). That is quite a move for the usually stagnant pair. I feel like banking it. I'll keep to the rules on this though.
I want to look into the PSAR and how that works for better exits on the system. MuddBuddha suggested that somewhere in the forums, and he/she seems to be highly regarded as a trader. Hey - if it can help me hold onto a few more pips... why not.
I placed it on one of my charts and was like what the f...! So, I got some learning to do.
broker doesn't have gbp/aud so can't input on that, but eur/aud was a buy earlier. How can you be losing?
  • #44
  • Nov 14, 2006 2:52pm Nov 14, 2006 2:52pm
I closed my GBP/AUD early because it turned way too far against me. Plus, I probably didn't enter it correctly. I'm still understanding the candlestick part of the system.
  • #45
  • Nov 14, 2006 3:09pm Nov 14, 2006 3:09pm
Quoting brick911
I closed my GBP/AUD early because it turned way too far against me. Plus, I probably didn't enter it correctly. I'm still understanding the candlestick part of the system.
You mean eur/aud? That is what I was referring to. Hey check out these levels and tell me what you think. wma 5 (apply to median price) and wma 13 (apply to median price) - Don't ask about the median price, I kept playing with numbers to weed out some false signals and this is what I was left with. No need for 40wma. Add parabolic sar.. Once 5 crosses 13 up if psar is showing buy (else ignore), then buy and vice versa for sell - all on daily. For gbp/usd put a 150 pip s/l just in case, but has to be this or greater (I think) - other pairs depends on daily average move - or go with no s/l and hope, but I'd rather have something - been burned a lot with none (even though it eventually came back)

Let me know what you think....
  • #46
  • Nov 14, 2006 10:41pm Nov 14, 2006 10:41pm
Hey Brick...just sold AUD/USD at the completion of the candle with the 40/4 cross...will wait for the 40/15 cross to close the position.
  • #47
  • Nov 14, 2006 11:20pm Nov 14, 2006 11:20pm
Wow... I really don't understand the Priscan system. On my charts, the 4 has crossed the 15, but it is nowhere near the 40 yet. I don't know what the hell I'm doing wrong. I'm gonna let my open trades run for now. I got a signal to sell the NZD/USD at .6615, but I won't act on it cause I'm not sure of what I'm doing. Hopefully, if anybody understands better than me, maybe they could suggest what I might be doing wrong. I've reread the original thread about 20 times now. I don't know what I'm missing.
  • #48
  • Nov 15, 2006 7:11am Nov 15, 2006 7:11am
Daily range would have kicked ass last night, but my orders didn't get filled. I'm too pissed to elaborate. Goal for today... find a better broker. I know MB is good, but I already have an account open with them for different trade styles. Maybe I'll open a separate account. Any suggestions?

BTW, I hate sounding like everyone else who bitches about their brokers. I don't want to be a wah-wah, so I'm gonna rectify the situation ASAP.
  • #49
  • Nov 15, 2006 7:51am Nov 15, 2006 7:51am
Don't worry Brick we've all bitched at one time or another .

Thats interesting... so your broker didn't fill your order at all?

Do you have like a threshhold to say if entry is more than 10 pips away from order price then do not execute?

Was a nice day today though :-)
  • #50
  • Nov 15, 2006 8:11am Nov 15, 2006 8:11am
Yeah they filled me at the 80 pip mark then immediately closed them with some loss. I know I placed the orders correctly. They verified that on the phone. Their explanation was... sometimes this happens - I can see them being filled late, but 80 pips later?! Anyway, I'm done bellyaching. I'm gonna move on... I'm just hoping that I could get a few good suggestions from people on who they've had good experiences with.
  • #51
  • Nov 15, 2006 9:47am Nov 15, 2006 9:47am
Brick911,

Have been on vacation and just noticed your Journal.

All the best. Look forward to following your progress.

Cheers
  • #52
  • Nov 15, 2006 9:51am Nov 15, 2006 9:51am
80 Pips is ridiculous.... The market doesn't gap like that on Non-Farm.... and it sure as hell didn't do so today.... Sorry to hear that....
  • #53
  • Nov 15, 2006 10:12pm Nov 15, 2006 10:12pm
Oanda is the best broker i've been with them for four years and have yet to have a single problem.
  • #54
  • Nov 19, 2006 9:21pm Nov 19, 2006 9:21pm
Ok - I'm back on it this week. Last week ended without much action. I had to focus efforts on real estate, then wasn't near the computer on Friday due to the ultrasound... it is a girl - I WAS RIGHT! I'd love to tell you what I won regarding a bet with my wife, but would probably be banned.

Anyway, I look forward to posting my trades throughout the week. I'm also gonna paper trade my 4X Made Easy software for the hell of it. I want to check out my charts at 4:00 am and place trades based on support and resistance only. Let's see how I do after a 100 or so trades. Yeah, yeah, I bought the software. There are plenty of people using it successfully. It introduced me to the forex market, if nothing else.

BTW, I am selling six properties in the Philadelphia area. If anyone is interested, pm me please. I can be flexible and creative in the financing, if needed. If that is against the rules, I apologize.
  • #55
  • Nov 19, 2006 9:53pm Nov 19, 2006 9:53pm
Quoting aicccia
well I've never heard of a forex trader who didn't blow their first account. I would start with a smaller amount, because in the next few weeks or months, the 10,000 will be tuition for your forex learning. The secret is, the price of this tuition is up to you. It doesn't have cost 10,000, it probably could cost as little as 300-500. And then the 1000s you've saved will be waiting for you when you've mastered the art.
Please do not take this has any form of arrogance on my part whatsoever. However in response to your first sentence, I just want to say that now you have heard of a currency trader who did not blow their first account.

tommyh
texas
  • #56
  • Nov 20, 2006 1:09pm Nov 20, 2006 1:09pm
My 1st 4XME paper trade got stopped at -29. 0 for 1

BTW, I'm abandoning daily range for the week. I know it is mechanical, but I still stress about it at this point. I'm extremely overwhelmed with trying to sell my properties, so I need a less stressful trading week. I promise myself to get back to it and not start system hopping again.
  • #57
  • Dec 5, 2006 2:53pm Dec 5, 2006 2:53pm
OK - I got my real estate straightened out and listed on the market. I spent the last few days writing out my trading rules and am ready to start trading again tonight. One of my rules is to only open trades between 2:00 am eastern and 12:00 pm, so hopefully I'll see some opportunities tonight. I'll post my trading rules later when I get some time. I have been reading everything on the forum to stay up to date with the market, but wasn't placing any trades. I found that when I waking up in the middle of the night I started thinking about my other problems and couldn't get back to sleep. I should be good for now.
  • #58
  • Dec 5, 2006 3:34pm Dec 5, 2006 3:34pm
Glad to have you back.

Go Eagles!!
  • #59
  • Dec 5, 2006 4:00pm Dec 5, 2006 4:00pm
Welcome back, can't wait to see some more entries!

andersenws
"Youth is the trustee of prosperity." - Benjamin Disraeli
  • #60
  • Dec 6, 2006 8:48am Dec 6, 2006 8:48am
1. GBP/JPY, short, 226.12, TP - 225.09, SL - 226.56

2. GBP/USD, short, 1.9631, TP - 1.9556, SL - 1.9681

3. USD/CAD, long, 1.1440, TP - 1.1482, SL - 1.1412

4. EUR/CAD, long, 1.5195, TP - 1.5266, SL - 1.5146

The Eagles provided quite an entertaining game... especially Stalworth's one handed grab.

Andersen - I'm glad to be back. We'll see how I do.

P.S. We're leaning towards naming the baby Lily - any ideas?
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