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Diary of a Mad Surfer

  • #101
  • Jan 16, 2008 10:02pm Jan 16, 2008 10:02pm
Quoting Big Wave Rider
In response to a few p.m's here is how you really become successful.
One of the biggest blocks to being successful is not your trading system, money management, or risk management. It's you subconscious. Even if you want it is not enough, you must believe thats its possible to be successful not only in forex but in anything you do. I have developed a mantra that stresses several words that if you repeat this several times a day, everyday, in front of a mirror, it will come true. Trust me. You must repeat this word for word so print it out, memorize it and repeat, repeat and repeat it some more.
Say it in front of a mirror face to face, eye to eye with yourself and BELIEVE what you are telling yourself. Stress the words that are in bold print.


I am a professional trader. My job is to take risk. If I manage my losses and let my profits run I will be successful. Because I am a professional trader, I will forgive myself easily for making mistakes and move on to new opportunity's. I feel great that I have the discipline to control my emotions and the patience required to be a professional trader. I am a professional trader and will make $100,000 by year end. I will achieve this by following my trading plan , setting achievable goals, and controlling my emotions. I am confident and believe in my own ability to be consistently profitable because I AM a professional trader.
True... Just believe in ur self
"IT'S GOING TO BE LIKE COMING INTO THE JUNGLE" - K G
  • #102
  • Jan 17, 2008 12:36am Jan 17, 2008 12:36am
First of all, thanks for your strategy. I have been trading on smaller TF, and just got tired of the daily monitoring and getting whipsaw back and forth constantly. It is also harder to trade and requires much effort on staying glue to the monitor.

I plan to try your strategy using the higher daily and 4H TF to trade.

I am looking at the USD/CAD. Seems like this is going to breakout for a long upside on the daily. The 4H already broke through the 200EMA. Here is the daily chart.

I plan to long this pair.
Attached Image
  • #103
  • Jan 17, 2008 3:22am Jan 17, 2008 3:22am
Quoting YudhaGBP7
It seems Dec 24 low 1.9754 cable can't break. any opinion? Euro already made new low yesterday, Cable will break weekly ema 100?

ps: i'm sorry if my grammar not correct, english is my second language

No worries on the grammar it's fine. I see an impulsive five wave pattern down on the daily which means it should make an abc correction, However the markets are not behaving normal right now, so I would wait before I trade cable, as of now its going sideways.
Just Trade It
  • #104
  • Jan 17, 2008 3:31am Jan 17, 2008 3:31am
Quoting batman3298
First of all, thanks for your strategy. I have been trading on smaller TF, and just got tired of the daily monitoring and getting whipsaw back and forth constantly. It is also harder to trade and requires much effort on staying glue to the monitor.

I plan to try your strategy using the higher daily and 4H TF to trade.

I am looking at the USD/CAD. Seems like this is going to breakout for a long upside on the daily. The 4H already broke through the 200EMA. Here is the daily chart.

I plan to long this pair.
Your welcome, CAD made a new high on the daily, as of now it's having a hard time to really break free of that 200ema, yes it did go above it, but to be totally convinced you need a candle that closes "clearly" above it, the last daily candle closed just above it which is not convincing because it could come down to your charting software or what time zone your broker is in. So I would say the last candle closed on the 200.
Mr. Bernake speaks later today so all technicals will most likely be thrown out of the window as this week has been very volatile and strange.
Be careful as these are troubled waters.
Just Trade It
  • #105
  • Jan 17, 2008 8:09am Jan 17, 2008 8:09am
BWR, Thanks for your thread. I am new to trading and you have made me realise the importance of longer term trading and not just scalping! Now that I am using longer TF's I am seeing the whole picture. I will keep on learning from you.
  • #106
  • Jan 17, 2008 8:32am Jan 17, 2008 8:32am
Quoting Big Wave Rider
No worries on the grammar it's fine. I see an impulsive five wave pattern down on the daily which means it should make an abc correction, However the markets are not behaving normal right now, so I would wait before I trade cable, as of now its going sideways.
Thank U Sir, i'm still holding my long...

AScending Triangle, is it? Breaks @ 1.9754, cable will go super up...up....up...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD5.jpg Size: 134 KB
"IT'S GOING TO BE LIKE COMING INTO THE JUNGLE" - K G
  • #107
  • Jan 17, 2008 8:57am Jan 17, 2008 8:57am
breaks Sir...... Bullish Falling Wedge n Ascending Pattern n Weekly EMA 100..

Absolutely Synchronize Sir.... Thanks Again Sir...
"IT'S GOING TO BE LIKE COMING INTO THE JUNGLE" - K G
  • #108
  • Jan 17, 2008 11:03am Jan 17, 2008 11:03am
I was bullish on AU until this last retracement exceeded the price range of the last wave nullifying an impulsive wave count. however the wave down looks impulsive instead of corrective. This is only an observation and not a trade call but something is fishy here and it seems as all currencies dont have a real direction at the moment. But it does look as a reversal at the moment.
Here is the AU chart
Attached Image (click to enlarge)
Click to Enlarge Name: charts.gif Size: 24 KB
Just Trade It
  • #109
  • Jan 17, 2008 11:19am Jan 17, 2008 11:19am
CAD losing strength, Still long in USCAD, here is an opportunity for EURCAD. back into the trend.
Attached Image (click to enlarge)
Click to Enlarge Name: charts.gif Size: 20 KB
Just Trade It
  • #110
  • Jan 17, 2008 5:37pm Jan 17, 2008 5:37pm
Quoting YudhaGBP7
breaks Sir...... Bullish Falling Wedge n Ascending Pattern n Weekly EMA 100..

Absolutely Synchronize Sir.... Thanks Again Sir...
I'm Wrong again.... It's a learning process...
"IT'S GOING TO BE LIKE COMING INTO THE JUNGLE" - K G
  • #111
  • Jan 17, 2008 5:40pm Jan 17, 2008 5:40pm
Weekly 100 EMA could hold cable?

Dow -306.95 Worst day this year.
"IT'S GOING TO BE LIKE COMING INTO THE JUNGLE" - K G
  • #112
  • Jan 18, 2008 8:44am Jan 18, 2008 8:44am
Hey BWR. Just wanted to let you and everyone know how great your EMA/SMA's work. I made an additional 240 pips yesterday utilizing the Daily 8EMA as my entry point when I shorted Geppy Yesterday (for the fun of it, I was bored). Had I been using the daily 5 SMA as my entry point (which I was doing in the past) it would have meant a difference of 100 less pips.
Humble Lifetime Member
  • #113
  • Jan 18, 2008 9:09am Jan 18, 2008 9:09am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Ash
Hey BWR. Just wanted to let you and everyone know how great your EMA/SMA's work. I made an additional 240 pips yesterday utilizing the Daily 8EMA as my entry point when I shorted Geppy Yesterday (for the fun of it, I was bored). Had I been using the daily 5 SMA as my entry point (which I was doing in the past) it would have meant a difference of 100 less pips.
Hi Ash
i can see how you would use the 8 for entry, but how did you TP and what was the SL, i've used the 5sma for a long time, but have switched to BWR system. so far it looks great.

MPP
  • #114
  • Jan 18, 2008 9:39am Jan 18, 2008 9:39am
Quoting MPP
Hi Ash
i can see how you would use the 8 for entry, but how did you TP and what was the SL, i've used the 5sma for a long time, but have switched to BWR system. so far it looks great.

MPP
As far as geppy is concerned, 100 pips is a given. I usually just it ride but yesterday I was playing around (as I was bored). When I take an entry, it is usually off the Daily Charts depending if it is a bull or bear market. It all depends upon the currency. Different currencies, have different S/L's. For Geppy, Usually about 250 pips if I am going to let it ride all the way up or down but since we are already in a trend, I let ride and when I saw a pull back, I closed it out. My weakness has always been the exits and not the entries. I already have another Geppy position open for about 3000 pips which I am riding down until I see a clear change in the Daily.

BWR's system, imvho, is much better. I now have a better understanding of the 100 and 200 EMA's and their significance. I am able to take a position with ease and comfort.
Humble Lifetime Member
  • #115
  • Jan 18, 2008 10:27am Jan 18, 2008 10:27am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Ash
As far as geppy is concerned, 100 pips is a given. I usually just it ride but yesterday I was playing around (as I was bored). When I take an entry, it is usually off the Daily Charts depending if it is a bull or bear market. It all depends upon the currency. Different currencies, have different S/L's. For Geppy, Usually about 250 pips if I am going to let it ride all the way up or down but since we are already in a trend, I let ride and when I saw a pull back, I closed it out. My weakness has always been the exits and not the entries. I already have another Geppy position open for about 3000 pips which I am riding down until I see a clear change in the Daily.

BWR's system, imvho, is much better. I now have a better understanding of the 100 and 200 EMA's and their significance. I am able to take a position with ease and comfort.
i'm not quite there yet, will be soon.
  • #116
  • Jan 18, 2008 10:40am Jan 18, 2008 10:40am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
i'm looking at Ej, the 1h is crossing down, 4h down, daily down on the crosses, but the 100 is above the 200daily. i'm lost, good trade or hold out?
  • #117
  • Jan 18, 2008 11:19am Jan 18, 2008 11:19am
Quoting MPP
i'm looking at Ej, the 1h is crossing down, 4h down, daily down on the crosses, but the 100 is above the 200daily. i'm lost, good trade or hold out?
Sorry MPP, it seems like a good trade but I (personally) would not take it. It is too far into the day (position). I am a conservative when it comes to trading.
Humble Lifetime Member
  • #118
  • Jan 18, 2008 11:25am Jan 18, 2008 11:25am
Quoting Ash
Sorry MPP, it seems like a good trade but I (personally) would not take it. It is too far into the day (position). I am a conservative when it comes to trading.
hello ash, i just wanna ask u a question. Are you still holding GU short since back then?
hijackxx
  • #119
  • Jan 18, 2008 11:36am Jan 18, 2008 11:36am
Quoting hijackxx
hello ash, i just wanna ask u a question. Are you still holding GU short since back then?
hijackxx
No, I closed that last week.
Humble Lifetime Member
  • #120
  • Jan 18, 2008 11:38am Jan 18, 2008 11:38am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Ash
Sorry MPP, it seems like a good trade but I (personally) would not take it. It is too far into the day (position). I am a conservative when it comes to trading.
hi Ash
i get the it's to close to the weekend, but i was just trying to see if i was thinking correcty to take a short looking at this setup of to stay out, thanks for the reply. as i see it, on a monday it's a good trade.
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