MW's trading journal | Page 30 | 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

  • #581
  • Jan 7, 2008 1:22pm Jan 7, 2008 1:22pm
Quoting Tiki Trader
I kinda think I've been saying that especially to MW for the last little while... and now this morning the SELL trade was ON as per lerantocount... and look what happened... we're still up there... starting to have some doubts about him...
Hi Tiki,

With the bounce off of the EMA on Friday it may very well continue up. I still think we have a weakened dollar for awhile, but I think we will see a nice strengthening soon.

Maybe Mike can give us his input on it.

Mike G
Attached Image
  • #582
  • Jan 7, 2008 1:40pm Jan 7, 2008 1:40pm
Quoting Matrixxdg
Hi Dagood,
Looking on the 4H the U/C has just completed a beautiful Gartly 222 and butterfly pattern. I too would expect a short opportunity if only for 100+ or so.

Mike G
Hey DG,
Well good old Mr. Gartley was correct again. I put a sell order before I went to bed and a TP just before the pivot at 9970.... out for +75.

I do not think it knows what it wants to do now. What do you think? Tiki and I were just discussing it.

MG
  • #583
  • Jan 7, 2008 2:08pm Jan 7, 2008 2:08pm
Quoting Matrixxdg
Hey DG,
Well good old Mr. Gartley was correct again. I put a sell order before I went to bed and a TP just before the pivot at 9970.... out for +75.

I do not think it knows what it wants to do now. What do you think? Tiki and I were just discussing it.

MG

hi mike... ucad is going up on 4 hour (still) which is nice.... i think learn to count and mike and I are looking at the bigger picture though and the daily and weekly and monthly..... the higher ucad goes the harder and faster she can fall later..... i think the weekly bar after this week will tell us something.... i also think the daily close today may be very important.... theres no way to short this thing yet IMO but.... looking at the daily if price gets rejected at the upper trendline and bounces down hard....that could signal the beginning of the down trade possibilities.... here is my daily chart.. (ps you could have made some very nice long pips and maybe still can but thats not my strategy on this pair.... I am with mike and learn to count looking for a long term trade for many pips..... so for now i am sidelined and waiting for her to come to me rather than trying to chase her down.....(like mike taught me)


but i am expecting the upper daily trendline to offer resisitance and knock her down hard.... if she breaks the daily with real momentum up instead...well then I guess I will re-evaluate.... but I doubt it...... u can see that upper TL coming up soon.... as always price action will dictate..... look for a nice pinbar to form on daily soon and then see if the next daily candle confirms the inbar = then she is going down to mikes targets methinks if not.... then we wait and see the weekly TL but I think the end is near for u/cad longs IMO
Attached Image (click to enlarge)
Click to Enlarge Name: ucad.gif Size: 26 KB
  • #584
  • Jan 7, 2008 2:15pm Jan 7, 2008 2:15pm
Quoting dagoods
hi mike... ucad is going up on 4 hour (still) which is nice.... i think learn to count and mike and I are looking at the bigger picture though and the daily and weekly and monthly..... the higher ucad goes the harder and faster she can fall later..... i think the weekly bar after this week will tell us something.... i also think the daily close today may be very important.... theres no way to short this thing yet IMO but.... looking at the daily if price gets rejected at the upper trendline and bounces down hard....that could signal the beginning of the down trade possibilities.... here is my daily chart.. (ps you could have made some very nice long pips and maybe still can but thats not my strategy on this pair.... I am with mike and learn to count looking for a long term trade for many pips..... so for now i am sidelined and waiting for her to come to me rather than trying to chase her down.....(like mike taught me)


but i am expecting the upper daily trendline to offer resisitance and knock her down hard.... if she breaks the daily with real momentum up instead...well then I guess I will re-evaluate.... but I doubt it...... u can see that upper TL coming up soon.... as always price action will dictate..... look for a nice pinbar to form on daily soon and then see if the next daily candle confirms the inbar = then she is going down to mikes targets methinks if not.... then we wait and see the weekly TL but I think the end is near for u/cad longs IMO
Thanks DG....good analysis... I will watch from the sideline and see if she reverses.

MG
  • #585
  • Jan 7, 2008 2:17pm Jan 7, 2008 2:17pm
Quoting Matrixxdg
Thanks DG....good analysis... I will watch from the sideline and see if she reverses.

MG

ps i dont know much about divergence but my chart looks like a wee tiny bit of divegence also..... which could mean (i think)= reverse to short soon
  • #586
  • Jan 7, 2008 2:42pm Jan 7, 2008 2:42pm
sorry mike for cloggin the tread but just wanted to post my weekly and monthly charts

seems to be some crucial points coming on the u/cad

we are still bouncing up off of that weekly pinbar that i noticed at the beginning of the year...... BUT look at the resistance she must try to overcome on weekly and monthly charts...... all it will take is some fundie news or other impetus to reject u/cad back to below where she came from.... if she breaks weekly and monthly resisatance i will be very surprised.... = crucial days weeks to come
Attached Image (click to enlarge)
Click to Enlarge Name: ucad.gif Size: 25 KB
  • #587
  • Jan 7, 2008 2:43pm Jan 7, 2008 2:43pm
weekly
Attached Image (click to enlarge)
Click to Enlarge Name: ucad.gif Size: 23 KB
  • #588
  • Jan 7, 2008 5:53pm Jan 7, 2008 5:53pm
YES !!! Look in my journal... !!!

Quoting dagoods
ps i dont know much about divergence but my chart looks like a wee tiny bit of divegence also..... which could mean (i think)= reverse to short soon
  • #589
  • Edited 10:07pm Jan 7, 2008 9:52pm | Edited 10:07pm
I am back in my canadian trades (Along with the one still going from a higher level), and I am still in thought that it will fall a lot more. As for right now, I am going to take a few quick trades on the eur/usd and gbp/usd if they pan out correctly. I would look to go short for both just to make a quick profit before sleep. I didn't really see anything all that great on the dailies today and so, other than these, I have posted no new trades.

I am waiting it out on the eur/usd and gbp.usd to jump in. It still has a little more upwards movement based on the 4 hour charts and with that, I'd like to see around 1.9750 before shorting. The Euro is testing the resistance right now and so I would like to see one more run up on it as well and then a breach downwards.
I dream, therefore I become.
  • #590
  • Jan 7, 2008 9:56pm Jan 7, 2008 9:56pm
Quoting Bones
Just thought I would pop over and say Hi to everyone on this thread .Its been highly recommended!
Mike (and others here) I know you’ve been over to the cable thread giving some help to us new guys trying to learn and I really appreciate that.
I must admit I haven’t read any posts yet but I intend reading everyone of them over the next week or so to bring myself up to speed as much as possible.
I have been trading Cable in my spare time for some 15 months now without that much success until fairly recently where little nuggets of info have helped me succeed more and more.
I know a lot of my trades are no where near the A1 type but I try to learn from each and ever one of them. When I have read everything I will try to post something keeping it as professional as possible.

Once again Hi Everyone.
Hi Bones, it's nice to have you! You said you have been trading the Cable for a while now, but you also said that you don't always take A+ trades; Why? Your setting yourself up for failure if you were to take trades that aren't A grade. Instead of trading just to trade, have the patience to wait for the A+ trades and you will become a LOT more profitable. Yet again, Nice seeing you and if you have any questions on anything, just ask; Everyone is more than willing to help if they can.
I dream, therefore I become.
  • #591
  • Jan 7, 2008 10:00pm Jan 7, 2008 10:00pm
Quoting Tiki Trader
I kinda think I've been saying that especially to MW for the last little while... and now this morning the SELL trade was ON as per lerantocount... and look what happened... we're still up there... starting to have some doubts about him...
Just wait Tiki. It's a comin'. If you trade on the higher timeframes, small amounts of pips are just blips on the screen. When it comes, you can free your doubts of myself.
I dream, therefore I become.
  • #592
  • Jan 7, 2008 10:05pm Jan 7, 2008 10:05pm
Quoting dagoods
sorry mike for cloggin the tread but just wanted to post my weekly and monthly charts

seems to be some crucial points coming on the u/cad

we are still bouncing up off of that weekly pinbar that i noticed at the beginning of the year...... BUT look at the resistance she must try to overcome on weekly and monthly charts...... all it will take is some fundie news or other impetus to reject u/cad back to below where she came from.... if she breaks weekly and monthly resisatance i will be very surprised.... = crucial days weeks to come

There's no need to apologize for that Dagoods, this is great stuff!
I dream, therefore I become.
  • #593
  • Jan 7, 2008 10:06pm Jan 7, 2008 10:06pm
Quoting mike w
I am back in my canadian trades (Along with the one still going from a higher level), and I am still in thought that it will fall a lot more. As for right now, I am going to take a few quick trades on the eur/usd and gbp/usd if they pan out correctly. I would look to go short for both just to make a quick profit before sleep. I didn't really see anything all that great on the dailies today and so, other than these, I have posted no new trades.
Mike,

Re the EURUSD...the price just broke up the 23.8 retracement. We have just completed a double low higher close bar. Do you think it is prudent to go short or cautiously long? TO my mind either the price is going to inch up or there is going to be a sharp drop which would call for reversal of long to short position.
  • #594
  • Jan 7, 2008 10:27pm Jan 7, 2008 10:27pm
Quoting Eklavya
Mike,

Re the EURUSD...the price just broke up the 23.8 retracement. We have just completed a double low higher close bar. Do you think it is prudent to go short or cautiously long? TO my mind either the price is going to inch up or there is going to be a sharp drop which would call for reversal of long to short position.

Hi Eklavya. Firstly, the fact that it breaks through a fib level doesn't really mean much until you get to the higher fib levels I.E. 50%, 61.8%, or 100%. I don't trade using the lower fib levels suc as 23.8. On another note, I didn't get a double low higher close for my chart. I am seeing on my chart though, that price is at resistance and, I think, most likely would fail to break through which means that the shorts are on. If you don't understand as to why I posted that trade, do not post one of your own; trust your analysis and only your analysis.

Longer term for this trade, once I looked to the higher timeframes, I look to see this move slowly lower throughout the week for at least 100 pips.
I dream, therefore I become.
  • #595
  • Jan 7, 2008 10:38pm Jan 7, 2008 10:38pm
hey mike i just short gj on fail of tl with a buystop above the 100fib just above the tl (skunny) (in case i am wrong and it does go long i'll catch the pips that way!

also long ej and sold short eur/aud for some good pips methinks... tight sl and mm as usual...thought u might like to look athemn yourself and see what u think

also took a ucad short
  • #596
  • Jan 7, 2008 10:44pm Jan 7, 2008 10:44pm
Quoting dagoods
hey mike i just short gj on fail of tl with a buystop above the 100fib just above the tl (skunny) (in case i am wrong and it does go long i'll catch the pips that way!

also long ej and sold short eur/aud for some good pips methinks... tight sl and mm as usual...thought u might like to look athemn yourself and see what u think

also took a ucad short
Hey Dagoods, I'll get right to it. I'm going to check them out. I've played an aggressive short on the eur/usd just now. It looks like on the hourly charts, we will see a double high lower close off of resistance. With that, I look to see lower levels by morning. Anyways, I'm going to check out those charts and write back with any thoughts I have.
I dream, therefore I become.
  • #597
  • Jan 7, 2008 11:35pm Jan 7, 2008 11:35pm
Quoting dagoods
hey mike i just short gj on fail of tl with a buystop above the 100fib just above the tl (skunny) (in case i am wrong and it does go long i'll catch the pips that way!

also long ej and sold short eur/aud for some good pips methinks... tight sl and mm as usual...thought u might like to look athemn yourself and see what u think

also took a ucad short

I agree that a short on gj is correct because we are in the downtrend. This is depending on how long your going to be holding. As for the E/J and Eur/Aud. I don't think I would have taken a long on the eur/jpy although it could turn out to be a great trade. I just wouldn't take it because it's against the immediate trend.

Shorts on eur/aud look good to me. Check out the hourly as well. If it closes at the position it is at, we will have a bearish pin bar which only infers further downside.
I dream, therefore I become.
  • #598
  • Edited Jan 8, 2008 2:54am Jan 7, 2008 11:40pm | Edited Jan 8, 2008 2:54am
Quoting mike w
I agree that a short on gj is correct because we are in the downtrend. This is depending on how long your going to be holding. As for the E/J and Eur/Aud. I don't think I would have taken a long on the eur/jpy although it could turn out to be a great trade. I just wouldn't take it because it's against the immediate trend.

Shorts on eur/aud look good to me. Check out the hourly as well. If it closes at the position it is at, we will have a bearish pin bar which only infers further downside.

thanks mike yeah the gj scares me though i think she might go bull on me have tight stops in place but appreciate it....the eur/ad is my favorite i am very confident to get some pips there but u never know

closed gj short for -2 someone mentioned news in 3 hours and started to look bullish...still in others we'll see! update 2 obviously i took the gu ang gj longs for many many pips on th upper tl breaks as they were picture perfect set-ups for me hope u guys caught some of thase as well 4 am here in florida bedtime se u guys tommorow....still in the other trades and liking them so far....
  • #599
  • Jan 8, 2008 5:31am Jan 8, 2008 5:31am
Quoting mike w
Hi Bones, it's nice to have you! You said you have been trading the Cable for a while now, but you also said that you don't always take A+ trades; Why? Your setting yourself up for failure if you were to take trades that aren't A grade. Instead of trading just to trade, have the patience to wait for the A+ trades and you will become a LOT more profitable. Yet again, Nice seeing you and if you have any questions on anything, just ask; Everyone is more than willing to help if they can.
Thanks Matrixxdg
Thanks Mike W, On the A1 trades honest answer is I’m not sure how to find them yet. I trade a lot on lower timeframes learning from each trade always thinking I would move up time frames when I have some experience under my belt. I have been reading a lot recently and found my success rate way higher seem to be able to predict the market with very little loss even on scalping. It is time consuming /stressful though. Some of the things I learnt in the last few month (fibs etc) which I was not using before have truly blown me away. I started posting about a week ago and found just typing things up, a plan if you like, helped me greatly.
Will try to find time soon ,to read this thread and post.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #600
  • Jan 8, 2008 11:22am Jan 8, 2008 11:22am
Quoting Bones
Thanks Matrixxdg
Thanks Mike W, On the A1 trades honest answer is I’m not sure how to find them yet. I trade a lot on lower timeframes learning from each trade always thinking I would move up time frames when I have some experience under my belt. I have been reading a lot recently and found my success rate way higher seem to be able to predict the market with very little loss even on scalping. It is time consuming /stressful though. Some of the things I learnt in the last few month (fibs etc) which I was not using before have truly blown me away. I started posting about a week ago and found just typing things up, a plan if you like, helped me greatly.
Will try to find time soon ,to read this thread and post.
Hi Bones, like most newcomers to the market, you have it backwards. You need to trade the higher timeframes and then move to the lower once you have the experience needed in order to trade them efficiently. Scalping, to me, is not where it's at; Big moves on the larger timeframes are. I think you need to step away from the lower timeframes i.e. hourly and lower, and give the higher timeframes a shot. Yeah, you'll get bored and impatient waiting for trades, but your trading will become a lot more profitable. I'd be glad to try and help you understand how the market works and how to spot A trades if possible.
I dream, therefore I become.
1 trader viewing now