MW's trading journal | Page 15 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Another Trading Journal - Yuhu's Journal 17 replies

Twitch Journal - Live Journal 4 replies

Creating my Trading Plan + My Trading Journal 27 replies

My Personal journal up 18% in 2 months going to start a journal 8 replies

Azzity's Trading Journal III (Azzity's 3/30 Trading Method) 9 replies

Attachments: MW's trading journal
Exit Attachments

MW's trading journal

  • #281
  • Dec 7, 2007 8:58am Dec 7, 2007 8:58am
I got in the Gbp/Jpy trade just a litttttlllee bit early but now it is finishing its movement to 226 again and we are going to end the 4 hour bar with a bearish bar. If and when this happens, I will add to my position because I think it will inevitable drop at the moment.

Other than that, we aren't getting much movement out of the others pairs that I've traded up to this point.

The eur/usd is still fighting and it's going to pop soon as we are facing the resistance that my fib lines are making and the support that the trendline is making. I think it will keep with the trend and try to hike back to 1.5000 again. This is a big psychological level and so I will probably take profit there. Same goes for the Usd/Chf- except it's just the exact inverse.
The usd/cad trades are into nice profit now and I am still thinking they will turn into longer term trades.

The Nzd/Usd trade is going great and I will add to it once I am totally convinced that it will break out of the larger range.
I dream, therefore I become.
  • #282
  • Dec 7, 2007 9:05am Dec 7, 2007 9:05am
We just got a 4 hour pin on the gbp/jpy and so I think this will be the beginning of the drop I've been expecting from here. I've added to the position at 226.27. With that in mind, I think this will push price lower to create a bearish sign on the daily charts as well. If and once that happens, I will add to the position at that point too.
I dream, therefore I become.
  • #283
  • Dec 7, 2007 10:08am Dec 7, 2007 10:08am
If you'll check out the daily and weekly charts on the Usd/Cad, you'll see that we couldn't break the resistance and are now moving away from it. I think it will take a few weeks for it to pan out, but in the end of the move, I think we will see at least the previous lows of .9000.
I dream, therefore I become.
  • #284
  • Dec 7, 2007 10:12am Dec 7, 2007 10:12am
Quoting Tiki Trader
Mike, I think you are wrong.... you should not be thinking bullish right now for eur or gbp....

EUR is head and shoulders on daily.... head and shoulders is a reversal pattern there is large H & S also on gbp/usd, although kind of slanted... I think we are going to break that bottom trend line on gbp at around 1.0200...

Look at price of oil going down... this is not so much because price of oil going down, but because value of $$$ going up....

OK OK just my opinion....... don't trade off it !!!!
I'm not trading based on just that 1.5000 level. I am trading it because I think it will comply with the trendline. If not, then I will take a small loss.
I dream, therefore I become.
  • #285
  • Dec 7, 2007 10:15am Dec 7, 2007 10:15am
Quoting morse
Mike,

I would be very careful with your trades EUR/USD has fallen to extremes which makes me think the big boys have caught a great deal of people in long positions out, I can not see they will start buying at these low levels TO Release them!!!!!
I could see that as a possibility...but I am just trading how I see them at the moment. I can't see the big boys so I don't trade them lol. We are at the trendline and if it breaks, then I will incur a small loss. If not, then the reward will be great. Right now, it's working out and so I will keep the trade open and keep my winners running. Thanks for the input Morse!
I dream, therefore I become.
  • #286
  • Dec 7, 2007 10:17am Dec 7, 2007 10:17am
Quoting Tiki Trader
Don't lose too many pips !!! Especially if you are paying your way through college on that !!!

OK, no more telling you what to do ..... sorry !!!
LOL at the rate I'm going at the moment, I'm going to have to drop out!!! haha In all reality, everything's going good though. I'm only making a few pips here and there, but that turns out to be enough. Anything less and I have to start selling crack. jk.
I dream, therefore I become.
  • #287
  • Dec 7, 2007 3:05pm Dec 7, 2007 3:05pm
I've closed the Nzd/Usd trade out at .7756 for a gain of 116 pips. We are getting a pin bar on the daily charts indicating that price will probably maintain with the range for the time being. I will get back in once I get another solid buying signal. I think we will have one soon at the beginning of next week.
I dream, therefore I become.
  • #288
  • Dec 7, 2007 3:07pm Dec 7, 2007 3:07pm
Now we're ending the week in a positive note. I think I may post at the end of every week my profit/loss. This will allow me to have a solid understanding of how, when, and why I took the trades that I've taken when I would have long forgotten about them.
I dream, therefore I become.
  • #289
  • Dec 7, 2007 4:59pm Dec 7, 2007 4:59pm
OK dude... then post em up !!!! Lets have a look see !!! It'll help us have a solid understanding of where you're at too... !!! Ha, OK just joking............... I'm in a good mood cause I have still come out ahead this week fairly well.... didn't make a million... but made more than I lost... so...

I made 20 pips this week... let's see if you can beat that eh !!! OK, well, I made a few more than that... just thought I'd give you a head start....


Quoting mike w
Now we're ending the week in a positive note. I think I may post at the end of every week my profit/loss. This will allow me to have a solid understanding of how, when, and why I took the trades that I've taken when I would have long forgotten about them.
  • #290
  • Dec 9, 2007 11:22am Dec 9, 2007 11:22am
Quoting Tiki Trader
OK dude... then post em up !!!! Lets have a look see !!! It'll help us have a solid understanding of where you're at too... !!! Ha, OK just joking............... I'm in a good mood cause I have still come out ahead this week fairly well.... didn't make a million... but made more than I lost... so...

I made 20 pips this week... let's see if you can beat that eh !!! OK, well, I made a few more than that... just thought I'd give you a head start....
Nice, now we have a contest of sorts going lol I have to figure out how to post up my statement from my broker or I'll just post my +/- for the week. I'll probably start this week. I will include the trades that I have opened already IF I would close them out.
I dream, therefore I become.
  • #291
  • Dec 10, 2007 12:56pm Dec 10, 2007 12:56pm
Looks to me like tomorrow's news is going to be the "pusher" for all of my positions. I'd still like to see some downwards movement on the Gbp/Jpy throughoutt he day today so that the technical view of things would coincide with price being pushed down by the news.
Fundamental analysis always plays out in technical analysis.
I dream, therefore I become.
  • #292
  • Dec 10, 2007 1:02pm Dec 10, 2007 1:02pm
Yes, BUT.... likely drop in interest rates would make stock market rally NO ??? And if stocks rally, wouldn't usd/jpy and GBP/JPY go up too ????

Quoting mike w
Looks to me like tomorrow's news is going to be the "pusher" for all of my positions. I'd still like to see some downwards movement on the Gbp/Jpy throughoutt he day today so that the technical view of things would coincide with price being pushed down by the news.
Fundamental analysis always plays out in technical analysis.
  • #293
  • Dec 10, 2007 1:14pm Dec 10, 2007 1:14pm
Quoting Tiki Trader
Yes, BUT.... likely drop in interest rates would make stock market rally NO ??? And if stocks rally, wouldn't usd/jpy and GBP/JPY go up too ????
I think the rate cut is already priced in though. With that, there will probably be a spike because of hopefuls but afterwards, prices could tank. Price doesn't really do too much if the rate cut is already priced in. What do you think on that? I found a post somewhere on this and I will try to find it. Someone made excellent sense out of the situation.
I dream, therefore I become.
  • #294
  • Dec 10, 2007 1:19pm Dec 10, 2007 1:19pm
I always hear that !!!! But my thought is that it is never FULLY priced in.. or we might get .50 cut instead of .25...

On USD/JPY, I also think that if there was going to be a down turn to keep the inverted H & S going, it had to have already happened... I am once again leaning towards price going up...

But I am pretty sure I will not be in any trade come that hour... as much as possible I try not to trade the news... I always seem to lose.... though I've had some accidental luck lately !!! Which was nice !!!

Quoting mike w
I think the rate cut is already priced in though. With that, there will probably be a spike because of hopefuls but afterwards, prices could tank. Price doesn't really do too much if the rate cut is already priced in. What do you think on that? I found a post somewhere on this and I will try to find it. Someone made excellent sense out of the situation.
  • #295
  • Dec 10, 2007 4:56pm Dec 10, 2007 4:56pm
Quoting Tiki Trader
I always hear that !!!! But my thought is that it is never FULLY priced in.. or we might get .50 cut instead of .25...

On USD/JPY, I also think that if there was going to be a down turn to keep the inverted H & S going, it had to have already happened... I am once again leaning towards price going up...

But I am pretty sure I will not be in any trade come that hour... as much as possible I try not to trade the news... I always seem to lose.... though I've had some accidental luck lately !!! Which was nice !!!

I'd agree that it is never Fully priced, but most players have looked at it that way and so most are going along with what they think will happen (those damn newstraders! haha).
As for the Usd/Jpy, you could be right on thinking more upside movement BUT we are going to be facing pretty solid areas of resistance here soon. On that notion, I'd be looking to sell at the higher levels instead of buying into it.

We'll see come news time. Until that, I am just trading as I normally would.
I dream, therefore I become.
  • #296
  • Dec 10, 2007 5:52pm Dec 10, 2007 5:52pm
USD/JPY breaking out ?????
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 9 KB
  • #297
  • Dec 10, 2007 6:05pm Dec 10, 2007 6:05pm
Probably not !!! Sorry !
  • #298
  • Dec 10, 2007 10:04pm Dec 10, 2007 10:04pm
I don't know.... I still think something is about to happen here... this will not wait until morning I don't think... I am going to miss out on a good trade I bet... !!!
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 9 KB
  • #299
  • Dec 10, 2007 10:24pm Dec 10, 2007 10:24pm
Quoting Tiki Trader
I don't know.... I still think something is about to happen here... this will not wait until morning I don't think... I am going to miss out on a good trade I bet... !!!
Even if you would, there are always a million more, that's the beauty of it! I truly can't see that large of a move happening before the news. It's like the calm before the storm, even if the storm may only bring slight showers. lol
I dream, therefore I become.
  • #300
  • Dec 10, 2007 10:27pm Dec 10, 2007 10:27pm
Oh.... sigh... OK.... I'm going to bed then.... but don't think I won't say I told ya so in the morning !!!!

Quoting mike w
Even if you would, there are always a million more, that's the beauty of it! I truly can't see that large of a move happening before the news. It's like the calm before the storm, even if the storm may only bring slight showers. lol
0 traders viewing now