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Can I make 40% per month consistently

  • #141
  • Edited 3:20am May 29, 2007 3:09am | Edited 3:20am
Quoting Vantage
Didn't get .9829 so I'll have to wait for pullback to .9841 area.
Move stop to .9858 = +13.

Target 1.9890 - 1.9915, currently 1.9880.

Stop .9868= +23, now stop .9878.
  • #142
  • May 29, 2007 3:28am May 29, 2007 3:28am
Price went outside upper Keltner channel which cannot continue for long. Whilst it may go higher I have to go so out at .9888 for +43.
  • #143
  • May 29, 2007 12:09pm May 29, 2007 12:09pm
our levels seem to be matching up very well Dave, keep the good trades coming

I was up 60pips exactly and my target was 61pips, i was watching it too dont know why i didnt come out lol, but its pretty amazing how close it was to the highest level, (3 pips away, my target was 2pips away lol)
  • #144
  • May 30, 2007 12:11am May 30, 2007 12:11am
Quoting brxxt
our levels seem to be matching up very well Dave, keep the good trades coming

I was up 60pips exactly and my target was 61pips, i was watching it too dont know why i didnt come out lol, but its pretty amazing how close it was to the highest level, (3 pips away, my target was 2pips away lol)
Yeah I saw on your thread, tough luck but it was still good money in the bank and theres nothing wrong with that, well done!!
  • #145
  • May 30, 2007 12:23am May 30, 2007 12:23am
Quoting Vantage
Initial buy/sell areas for this morning:

GBP B 1.9809 then 1.9795. S 1.9862 then 1.9876
EUR B 1.3419. S 1.3445 and then 1.3471
CHF B1.2265 then 1.2249. S 1.2305
JPY B 121.23 then 121. 07. S 121.57

Not yet happy about JPY's levels still watching. Again this is short term stuff.
Yesterdays initial levels summary:

Didn't hit entries off the bat on GBP but we got some nice trades as the morning evolved.
EUR and CHF would not have worked blasted through sell/buy areas and carried on.
JPY went to 121.17, 6 pips below initial buy and then went to 121.80. I'll have to start watching this more I think.

Even if all 4 traded blind allowing for the small stops used here - 15 pips - yes you read right 15 pips would have been a successful day.
  • #146
  • Edited 12:58am May 30, 2007 12:43am | Edited 12:58am
Todays initial levels:

GBP B 1.9787, S 1.9845/60
EUR B 1.3424, S 1.3467/84
CHF B 1.2218/01, S 1.2265/82
JPY B 121.33/18, S 121.60/77

These are for the next 4 hrs, JPY has already given a short term buy at 121.37 so we'll see if it comes back down.

If a currency is in a trend and a counter trend level is hit early 'IF' I take it I watch it carefully and get my scalping 'hat' on. Approx 10 pips or so and I'm outta there.

PS Please don't ask me to post the numbers for every 4 hr period, South African work day 8 - 5 is 2am est - 11am est so to get in front of the computer is difficult. Pity about today I have a touch of flu coming on, shame I'll have to sit in front of the computer all morning!!!

These levels update every 4 hours (and sometimes during the time) and obviously once ADR's are hit (or currency run a little at least) counter trend trades get better and better chances of being long term trades. A good example here would be GBP yesterday. Just after 7 pm est the buy areas for the time period were 1.9800/.9787, price hit the middle of this, the bottom of the keltner channel and the bottom of the down trend channel (last two to the pip) so that was a good counter trend opp after GBP ran down from 1.9900. That wouldn't have been a 10 pip scalp but the opportunity for 30 + pips.

Some might hold on but GBP then hit the next 4 hr high to the pip so it would have been a good place to get out also considering the time of day.
  • #147
  • Edited 3:22am May 30, 2007 2:30am | Edited 3:22am
GBP went below lower keltner channel and hit bottom of down trend channel at .9760, currently .9777. I'd like to see slightly lower retest before buying. Might not get it though.
  • #148
  • May 30, 2007 3:21am May 30, 2007 3:21am
Nice retest stop moved to +5 at .9776.
  • #149
  • May 30, 2007 4:12am May 30, 2007 4:12am
Quoting Vantage
Nice retest stop moved to +5 at .9776.
OK so that wasn't the biggest run after all. The bottom of the trend channel that started at 1.9899 yesterday is around 1.9750. I'm hoping that area around .9770 will hold as that will be a couple of higher lows after .9760 earlier today. So we could have a nice run up after that, if it holds. If not then anything from 1.9750/30 could be buy areas.
  • #150
  • May 30, 2007 6:39am May 30, 2007 6:39am
Quoting Vantage
OK so that wasn't the biggest run after all. The bottom of the trend channel that started at 1.9899 yesterday is around 1.9750. I'm hoping that area around .9770 will hold as that will be a couple of higher lows after .9760 earlier today. So we could have a nice run up after that, if it holds. If not then anything from 1.9750/30 could be buy areas.
Don't know what I was doing making lunch maybe. I didn't hear the very nice ladies voice that calls out when certain levels are hit. Pity the low of 1.9733 was within 4 pips of the bottom of the trend channel which started around 5am yesterday and it was the signal low at 1.9733. Slap in the .9750/30 area mentioned previously.
  • #151
  • May 31, 2007 1:29am May 31, 2007 1:29am
GBP B 1.9735/20 S 1.9774/90
EUR B 1.3418/02 S 1.3454/71
CHF B 1.2231/14 S 1.2269/85
JPY B 121.41/25 S 121.68/86

Not that I'll see anything, no chance with work today.

A very good Elliott Wave trader on another forum thinks GBP B 1.9734 stop 1.9676 depending exactly on what happens with the news today. Also have a look at brxxt's buy sell levels and check out what Traex is doing, cheers.
  • #152
  • Edited 12:45am Jun 1, 2007 12:20am | Edited 12:45am
Quoting Vantage
GBP B 1.9735/20 S 1.9774/90
EUR B 1.3418/02 S 1.3454/71
CHF B 1.2231/14 S 1.2269/85
JPY B 121.41/25 S 121.68/86

Not that I'll see anything, no chance with work today.

A very good Elliott Wave trader on another forum thinks GBP B 1.9734 stop 1.9676 depending exactly on what happens with the news today. Also have a look at brxxt's buy sell levels and check out what Traex is doing, cheers.
GBP hit the initial buy level to the pip yesterday and was good for a 40 pip+ move up.

JPY came within 3 pips of the buy level, went to within 3 pips of sell back to within 3 pips of buy, would have been a good day for this pair.

CHF and EUR did not hit initial levels within the first 4 hrs so no trades.

Wasn't in these, watched office removal guys pack move and unpack millions of boxes. Standing around all day doing nothing is tiring. Wish I was full time!!
  • #153
  • Jun 1, 2007 12:32am Jun 1, 2007 12:32am
Gbp B 1.9764/44 S 1.9824
Eur B 1.3428/12 S 1.3473/89
Chf B 1.2233/17 S 1.2277/94
Jpy B 121.70/54 S 122.04
  • #154
  • Jun 4, 2007 1:26am Jun 4, 2007 1:26am
Quoting Vantage
Gbp B 1.9764/44 S 1.9824
Eur B 1.3428/12 S 1.3473/89
Chf B 1.2233/17 S 1.2277/94
Jpy B 121.70/54 S 122.04
Gbp and Eur came within a few pips of the target Gbp then ran up and Eur drifted up a little and then came down. At least Eur would have allowed enough time to exit with break even.

Chf hit sell area and carried on going up so that would have been a 15 pip loss.

Jpy hit entry and went up 40 pips during the day.

Overall system worked again.

Just to confirm one of the main principles as said by one Warren Buffet I think 'Rule No 1 Don't lose money, Rule No 2 see Rule 1". Whilst losses cannot be eliminated I'm using 15 pip stops max at the moment and if a trade takes to long to happen I'll rather get out even or 1/2 pips up than watch for hours going nowhere.
  • #155
  • Jun 4, 2007 1:29am Jun 4, 2007 1:29am
Gbp B 1.9810/1.9792 S 1.9862/77
Eur B 1.3432/16 S 1.3469/84
Chf B 1.2269/53 S 1.2310/27
Jpy B 121.88//72 S 122.19/37

Don't forget to check out Traex's Harmonic Wave Journal!!
  • #156
  • Edited Jun 5, 2007 12:23am Jun 4, 2007 6:44am | Edited Jun 5, 2007 12:23am
Quoting Vantage
Gbp B 1.9810/1.9792 S 1.9862/77
Eur B 1.3432/16 S 1.3469/84
Chf B 1.2269/53 S 1.2310/27
Jpy B 121.88//72 S 122.19/37

Don't forget to check out Traex's Harmonic Wave Journal!!
Gbp hit sell levels and drifted sideways.
Eur hit buy price to the pip run up has been good for 30+ pips.
Chf hit initial buy price and drifted sideways for so long allowing exit at or near even.
From 121.90 Jpy ran up 30 pips.

A good day for system considering the mind numbingly quiet conditions.
  • #157
  • Jun 5, 2007 12:25am Jun 5, 2007 12:25am
Quoting Vantage
Eur hit buy price to the pip run up has been good for 30+ pips.
That exit was far too quick hit Eur buy level to the pip and ended up running 70 pips, I have to get a little patience.
  • #158
  • Edited 4:26am Jun 5, 2007 12:31am | Edited 4:26am
Gbp B 1.9897/76 S 1.9951/68
Eur B 1.3482/66 S 1.3520/36
Chf B 1.2206/1.2189 S 1.2247/64
Jpy B 121.63/46 S 121.94/122.11

Big questions for today will the $'s slide continue? Will I trade when Trichet speaks this morning he has a habit of saying things that get me burned?
  • #159
  • Jun 5, 2007 12:37am Jun 5, 2007 12:37am
Quoting Vantage
GBP B 1.9735/20 S 1.9774/90
On the subject of patience this should be a big lesson, we hit this to the pip on 31 May and we are almost 200 pips higher. Entries are good, identifying trends and sticking in with a portion of trade not so good.
  • #160
  • Jun 5, 2007 12:41am Jun 5, 2007 12:41am
Oh yeah and don't forget to check out Traex's Harmonic Wave Journal.
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