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Harmonic Wave Journal

  • #1,101
  • Oct 2, 2007 7:44pm Oct 2, 2007 7:44pm
I've met up with this EW hero, man i tell you, he is COOL.

Anyway, i took some of his trading positions as he post them, it is realtime and he is not a fake (not implying others are fake). I believe as you trade longer, trades are just trades but as we are just newbies, we (I) start journal only for the purpose of recording our thinking process (not to boast) so, really who cares how much your account is or whether you post your statement online. What matters most is you know your acc grows. Right, Tx? Its money in the pocket.

I have learned a lot from this cool guy, hope we can all grow together in this environment.
Still waters run deep
  • #1,102
  • Oct 2, 2007 8:56pm Oct 2, 2007 8:56pm
Hi All,

Oh yes, Traex is for reel!!!!
I have been watching and learning from a far and he is "DAM GOOD"!!!
I just wish I had more to contribute to this thread. Some day I hope
to trade as good as him, all in time.

Good job Traex, Get them pips.

AZ
I found the guy who keeps losing me money. Its "ME" SHOOT HIM!
  • #1,103
  • Oct 3, 2007 12:03am Oct 3, 2007 12:03am
Quoting barak
Anyway, i took some of his trading positions as he post them, it is realtime
I wouldn't recommend this.

Traex, I'd suggest simply delaying a journal update by 30 minutes or the 40 pips to the first TP to remedy this "trade along without knowing anything about the system" problem...you could just write the entry to notepad first, then copy and paste later...

Traex isn't a signal provider, this is his journal.

I don't think anyone needs to have any doubts about the validity of his entries at all - I've seen them and compared his entries with some of my own trading for over 2 months now I think it is already...man Traex, we're getting ooooooooold ;p
Trust price. Know yourself.
  • #1,104
  • Oct 3, 2007 12:41am Oct 3, 2007 12:41am
Quoting SeekingLight
I wouldn't recommend this.

Traex, I'd suggest simply delaying a journal update by 30 minutes or the 40 pips to the first TP to remedy this "trade along without knowing anything about the system" problem...you could just write the entry to notepad first, then copy and paste later...

Traex isn't a signal provider, this is his journal.

I don't think anyone needs to have any doubts about the validity of his entries at all - I've seen them and compared his entries with some of my own trading for over 2 months now I think it is already...man Traex, we're getting ooooooooold ;p
Whit all my respect, I think that when I see Traex´s entrys I uses like a confirmation to my strategy -remember the acurate of Traex entrys- so always is good to see my trades in line whith him...

Just my opinion
  • #1,105
  • Oct 3, 2007 1:07am Oct 3, 2007 1:07am
I have been watching this journal since the start. Traex is a stunning trader, keep doing what you are doing and ignore everything else (including this contribution).

I have posted my opinions elsewhere already. If you want to follow his calls have your own system that gives a confirmation.

Treax you are without doubt THE man, all the very best to you.
  • #1,106
  • Oct 3, 2007 1:33am Oct 3, 2007 1:33am
I think there's this common misconception...

Journal entries are to keep a record of your own trades. Not to make "calls".
(hence the forum section is called "Trade Journals" and not "Free signal providers" or "Calls from anyone")
This way you can go over past trades, see what you did right, wrong, where you can improve, etc. That to me at least appears to be what a journal is about - self improvement.

I'm not sure, but my guess is Traex would probably not want the responsibility of the fate of others on his hands - I know I wouldn't.
I keep my own journal a lot more opaque accordingly.

And if it's just to confirm something you're already in anyhow then it won't matter if the post is a bit later, be it in pips or time. Simple.
Trust price. Know yourself.
  • #1,107
  • Oct 3, 2007 2:09am Oct 3, 2007 2:09am
Traex's superb journal has been hi-jacked into another direction.

Best wishes to you Seeking Light and of course Traex. I sincerely hope business as usual will resume shortly.

Regards.
  • #1,108
  • Oct 3, 2007 2:53am Oct 3, 2007 2:53am
Opportunity #G47/07 (re-entry)
GBP/USD Long
3 parts
Entry: 2.0372
Stop (initial): 2.0322

End of mini mini wave 4 of 3 (?).

Update 1: S/L tightened to 2.0375 (guarantees -26). Entered the trade too high.
Update 2: Took 1st profit at 2.0446 (+45). S/L tightened to 2.0384 (guarantees -17). Set TP2 at 2.0511 for +110.
Update 3: Stopped out for -34. Re-entry at 2.0372, initial stop at 2.0322.
Update 4: S/L tightened to 2.0367 (guarantees -5). Possible to move further lower.
Update 5: Took 1st profit at 2.0418 (+46). S/L tightened to 2.0390 (guarantees +18).
Update 6: Stopped out for +36. Was looking for re-entry again but missed the sharp spikey bottom just now. Will look for another opportunity again later if possible.

Total gain: +93
Tra-X
  • #1,109
  • Oct 3, 2007 3:12am Oct 3, 2007 3:12am
Hi pips4life, in my broker's MT4 chart (FXDD) there's even no more M15 candles data anymore. I was using FXDD that time (now I've moved to MBTrading). In M30 the high was 2.0049 that time and bottom was 2.0006 (bid prices). Spread was 4 pips on Cable. Now MBT even has better spread, like ~2 pips only for Cable.
Hope that answered your question.
Tra-X
  • #1,110
  • Oct 3, 2007 3:31am Oct 3, 2007 3:31am
Yes, but again you are doing really fine. Very good start!
Forex is not easy!
  • #1,111
  • Oct 3, 2007 3:36am Oct 3, 2007 3:36am
Wow many posts here today. Thanks barak, AZ-Heat, SeekingLight, pedaso07, and Vantage for the encouragement.

Yea I agree with SeekingLight's above point about this being a journal and not signal service. I'm not sure about posting trades after ~30 mins, for me currently it's just about fine if I delayed it I'd occasionally forget to post at all lol.
Tra-X
  • #1,112
  • Oct 3, 2007 3:41am Oct 3, 2007 3:41am
Quoting Traex
I'm not sure about posting trades after ~30 mins, for me currently it's just about fine if I delayed it I'd occasionally forget to post at all lol.


I'd offer you a hanky with a knot in it so you don't forget, but since I've got a cold that'd be rather unwise lest you catch it, too

Here, I've got hopes for this last dip to 50% of the last impulse to perhaps end the suffering of the correction period...am I being a bit early?

I'll have confirming price action if we hold another 75 minutes above 2.04 / 2.0390 (pin bar!)


I've got my "tolerance" level set to around 2.0315 for worst case dip scenario..but I am currently a bit unsure about where to measure the wave correctly for retracement levels :/

Do you have a current GBPUSD count you could share perhaps? =)

I could try my hand at a current one and share, too, if you like
Trust price. Know yourself.
  • #1,113
  • Oct 3, 2007 4:37am Oct 3, 2007 4:37am
Quoting SeekingLight
I've got my "tolerance" level set to around 2.0315 for worst case dip scenario..but I am currently a bit unsure about where to measure the wave correctly for retracement levels :/

Do you have a current GBPUSD count you could share perhaps? =)
My current 'messy' count. Looks like your 50% level coincided with my 38.2%. A good rebound level indeed.

One thing to take note here, last Friday Cable peaked at around 0490, FXDD closed 1 hour earlier hence the first top is missing in the chart, should've been a double top.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 30m.gif Size: 23 KB
Tra-X
  • #1,114
  • Oct 3, 2007 4:50am Oct 3, 2007 4:50am
Quoting Traex
My current 'messy' count. Looks like your 50% level coincided with my 38.2%. A good rebound level indeed.

One thing to take note here, last Friday Cable peaked at around 0490, FXDD closed 1 hour earlier hence the first top is missing in the chart, should've been a double top.
Nice. Yes I can also see a potential 5 wave count - maybe it was 5.3.2 that has just ended? And the 5 count was 5.3.1 completing.

Will post chart in a second, have to prepare my entry into this coming surge/break/whatever it might or not be..
Trust price. Know yourself.
  • #1,115
  • Edited 10:31am Oct 3, 2007 8:03am | Edited 10:31am
Opportunity #G48/07
GBP/USD Long
3 parts
Entry: 2.0362
Stop (initial): 2.0339

End of mini wave 2 of 5 (?).

Update 1: 0.8 pip from being stopped out. Need a miracle to get into safety. Set TP1 at 2.0405 for +43.
Tra-X
  • #1,116
  • Oct 3, 2007 9:27am Oct 3, 2007 9:27am
Right, well.

As basically any and all long attempts are flying out the window here let's try to make some sense of the mess...even though I really can't.


For all I know we could be in a big C down - but that doesn't fit price behavior at all. No new 12345 sort of pattern recognizable, nothing impulse like, not fierce enough. So probably not a B end at the last high 2.0462, more likely either a 3 or 5=1 end and now this choppy bloody ugly stupid correction phase before the next impulse comes...whenever THAT's gonna be.

Anyhow. Pretty much the same as your chart, but a lot uglier:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_031007_count.gif Size: 38 KB
Trust price. Know yourself.
  • #1,117
  • Edited 10:29am Oct 3, 2007 9:31am | Edited 10:29am
Opportunity #E40/07
EUR/USD Long
3 parts
Entry: 1.4114
Stop (initial): 1.4074

End of subwave 1 or A (?).

Update 1: Set TP1 at 1.4150 for +36. S/L will move to 1.4110 once TP1 is hit.
Tra-X
  • #1,118
  • Oct 3, 2007 9:34am Oct 3, 2007 9:34am
Just putting my thoughts here;
I think that the drop from 2.0650 to 1.9650 has completed a-b-c fall possible? Then again, with triple bottoms at 1.9650 I guess this is more likely a minor correction wave before an impulsive run beyond 2.0493 / ultimately 2.0652. Speaking about odds that this is a bigger and longer term correction wave, I do not bet much if any at all on this. But let the market decide
Forex is not easy!
  • #1,119
  • Oct 3, 2007 9:57am Oct 3, 2007 9:57am
I am glad that I have same counting as you, SeekingLight and Traex.. But I am realy sick of this correction....

Last chance for my opened possition : 20298....
Attached Image (click to enlarge)
Click to Enlarge Name: screen10.jpg Size: 324 KB
  • #1,120
  • Oct 3, 2007 10:08am Oct 3, 2007 10:08am
Quoting Hery
But I am realy sick of this correction....



Join the club ;p

The only consolation in the struggling price behavior to me is that there WILL come a point at which it will finish the correction(has to be corrective, never saw an impulse as sluggish as this) and then opportunity will knock and we'll just have to say "yes please" ;p

Could be it will take until tomorrow to resolve with a surprise from the BOE or SOMETHING...only thing that worries me to no end is that I see a correction on EURUSD down to at least 1.4015 as very plausible - and how's GBPUSD gonna survive that? EURGBP will have to shed a lot of tears to keep us stable...
Trust price. Know yourself.
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