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Just My Journal

  • #1
  • First Post: Edited Aug 25, 2024 7:24am Aug 24, 2024 6:17am | Edited Aug 25, 2024 7:24am
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GU rising with little pull-back, due to turn soon
Waiting until it's around 1.3300
  • #2
  • Edited Aug 25, 2024 7:25am Aug 24, 2024 4:56pm | Edited Aug 25, 2024 7:25am
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EU too
Passing on EU, as GU's a better option
  • #3
  • Edited Aug 25, 2024 7:29am Aug 24, 2024 4:57pm | Edited Aug 25, 2024 7:29am
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Wait until it gets to around 1.8000
  • #4
  • Edited Aug 25, 2024 7:45am Aug 24, 2024 4:59pm | Edited Aug 25, 2024 7:45am
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Kiwi's a tricky one, as it's still got some fairly recent overhead, may leave it
  • #5
  • Aug 24, 2024 5:01pm Aug 24, 2024 5:01pm
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  • #6
  • Aug 24, 2024 5:12pm Aug 24, 2024 5:12pm
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  • #7
  • Aug 26, 2024 1:47am Aug 26, 2024 1:47am
Quoting rover99x
{image}
Entered long UCad, this has extended quite a way, with little pull-back and a large run down on Friday 24th

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  • #8
  • Aug 26, 2024 2:05am Aug 26, 2024 2:05am
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Taken a short on Cable, around 1.3200
Way over extended on the daily
  • #9
  • Aug 26, 2024 2:10am Aug 26, 2024 2:10am
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Short on Kiwi NU at 0.6200
A somewhat riskier trade than GU, but worth it though
  • #10
  • Aug 26, 2024 2:15am Aug 26, 2024 2:15am
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Taken a short on EG, think it has some way to go before a rebound to the upside
  • #11
  • Aug 27, 2024 7:59am Aug 27, 2024 7:59am
Quoting rover99x
{image} GU rising with little pull-back, due to turn soon Waiting until it's around 1.3300
In the end I entered short at 1.3200, a bit premature, but I'll manage it if it goes against me
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  • #12
  • Aug 27, 2024 11:46am Aug 27, 2024 11:46am
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USD/MXN An exotic pair, looks good for a short around 21.0000, next round number above last swing top and roughly the next swing top area. Set an alert in this area, may take a week or so to play out, if it goes that far
  • #13
  • Aug 27, 2024 12:08pm Aug 27, 2024 12:08pm
Quoting rover99x
{image} USD/MXN An exotic pair, looks good for a short around 21.0000, next round number above last swing top and roughly the next swing top area. Set an alert in this area, may take a week or so to play out, if it goes that far
Nice clean charts Rover. It seems like you do both trend following and counter trend trades. How do you pull the trigger exactly? Any criteria for entry?

I hope I do not bother your journal by asking a question.
  • #14
  • Edited 7:38am Aug 29, 2024 7:19am | Edited 7:38am
Quoting TheCardinal
{quote} Nice clean charts Rover. It seems like you do both trend following and counter trend trades. How do you pull the trigger exactly? Any criteria for entry? I hope I do not bother your journal by asking a question.
Not at all Cardinal, I'm just journaling my trades and thoughts. EG was really against what I usually do, counter trend, but as it had some way to go I decided to go with it
My trading is very very simple, buy when I think it's going up and sell when I think it's going down. I'll explain more for you in a bit, but in basic form I look for extended pairs on the daily and H4, in other words due for a pull-back
  • #15
  • Aug 29, 2024 8:27am Aug 29, 2024 8:27am
Quoting rover99x
{quote} Not at all Cardinal, I'm just journaling my trades and thoughts. EG was really against what I usually do, counter trend, but as it had some way to go I decided to go with it My trading is very very simple, buy when I think it's going up and sell when I think it's going down. I'll explain more for you in a bit, but in basic form I look for extended pairs on the daily and H4, in other words due for a pull-back
Are you following a guy named Nick Shawn by any chance, from missionfx?
  • #16
  • Aug 29, 2024 4:24pm Aug 29, 2024 4:24pm
Quoting TheCardinal
{quote} Are you following a guy named Nick Shawn by any chance, from missionfx?
Hey Cardinal, well perceived. I started watching his vids a few months ago, he's changed his method somewhat, but I love his recent methodology, I used to trde someting similar a couple to three years ago on EJ using the H1 time frame, but it wasn't that successful because I didn't have the correct loss management setup. So it's his loss management I employ to great effect.
So now I trade similarly to him, watch for long moves in one direction without pull-backs. He can't trade CFDs in the US as I can in the UK, and I'm trying to adapt it to the Dax or S&P500. They trade in a different way to FX, so it's taking a bit of time, plus I've had some health issues, meaning I'm unable to stare at screens for a long period of time
  • #17
  • Aug 29, 2024 9:01pm Aug 29, 2024 9:01pm
Quoting rover99x
{quote} Hey Cardinal, well perceived. I started watching his vids a few months ago, he's changed his method somewhat, but I love his recent methodology, I used to trde someting similar a couple to three years ago on EJ using the H1 time frame, but it wasn't that successful because I didn't have the correct loss management setup. So it's his loss management I employ to great effect. So now I trade similarly to him, watch for long moves in one direction without pull-backs. He can't trade CFDs in the US as I can in the UK, and I'm trying to adapt it...
Cant say I like the guy or his trading methods. I hope it works out for you and brings you pips
  • #18
  • Edited 3:35am Aug 30, 2024 3:12am | Edited 3:35am
Quoting TheCardinal
{quote} Cant say I like the guy or his trading methods. I hope it works out for you and brings you pips
No I don't like the guy either, in fact I think he's a bit of a git, but his method is pretty much what I've long thought, indicators don't mean much trading the longer time frames, as I do. I remember, quite some time ago now, I read a quote from the guy that devised the MACD, and he said: "it means nothing in reality, it was just a means to an end, to gain popularity and sell books!". Forex I believe is pretty much random, (certainly on the lower time frames) but price is pushed in directions by banks and that we have no way on knowing what that direction is, so indicators cannot possibly help, so you'd just as well trade what you think at the time. I also know this to be true, as my step-son works for UBS in London, and he says that the retail traders are just treated as cannon fodder to create liquidity. The banks trade in 'yards' (a yard being one million) and retail traders are just eaten up.
But my ultimate goal is to trade indices, as they only trade one way, up! All indices, by their very nature will always go up over time, so stands to reason to trade long only
  • #19
  • Aug 30, 2024 5:48am Aug 30, 2024 5:48am
Quoting rover99x
{image} GU rising with little pull-back, due to turn soon Waiting until it's around 1.3300
making any profits?
Wealthy
  • #20
  • Aug 30, 2024 8:29am Aug 30, 2024 8:29am
Quoting rover99x
{quote} No I don't like the guy either, in fact I think he's a bit of a git, but his method is pretty much what I've long thought, indicators don't mean much trading the longer time frames, as I do. I remember, quite some time ago now, I read a quote from the guy that devised the MACD, and he said: "it means nothing in reality, it was just a means to an end, to gain popularity and sell books!". Forex I believe is pretty much random, (certainly on the lower time frames) but price is pushed in directions by banks and that we have no way on knowing...
As long as you trade what you believe in, thats what matters. As for indices, I do agree they are easier to trade since their natural price action is up only (almost). Same for blue chip stocks.
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