Dumb blonde trading...

I also longed that dip (1.5340) after those terrible nfp numbers...a friend of mine pointed out that eur hit 1000 pips from the beginning of its rally, so could easily have been profit taking in the 1.5450 area that made it fall (not intervention like I was thinking hehe). Any drop should be short-lived in any case, and if not I will use Jackos AH on the way back up...daily pin, but countertrend so not something I would play,, anyway extremely hungover today after being out at a Flower Power 40th birthday party until 5 am...open bar from 8pm to 4am and absolutely fantastic music I guess we were about 100 people just getting down and some of the outfits were just amazing...hehe Im going to be recuperating for a few days I guess

Hungover.... Oh Raz.... it's you.. !!! Too much wine...?? Now, where's my bottle of champagne....???

closed aussie at breakeven when it couldnt breach the 50 fib of the move down...
took profit on eur at 1.5388, looks like the rest of the position will get knocked out at breakeven...lets wait and see

Here's an updated chart to post#197. If I was trading aussie, I would go long at 0.9150. Looks very yummy right now :

I'm having a slow week this week due to work related travel.. In Japan right now.. so wanted to know..

Yo yo yo Raz, how is my favorite blonde fx trader doing?

I closed out the week a bit conservative, but still up quite a bit. How are your trades ?

Well, to be honest Im up this week but not due to great trading I wouldnt say...I was a bit put off by the fed move last friday and as a consequence was very nervous...I got in eur with a small position at 1.5339 and got out with 50 pips...it kept bouncing at the 90 mark which also happened to be the 50 fib of the drop down, anyway long and short of it is that I did the coulda woulda shoulda thing and missed the big move up, and then just couldnt get in after that (the market just ended up running away from my orders lol)I am in now but from much higher up, so we´ll see where it goes So it was kind of a frustrating week to be honest, but hey, slowely but surely does it, my account is increasing bit by bit. Im posting my latest euro trendfan chart, as MPP (he called me lazy hehe) said to get off my butt and update ...so here we are.. Im so glad you dropped in and glad things are going well, keep me posted on what you are doing, Im always interested to hear!
Re chart, to keep it clean I have only shown my trendfan but the 50 fib of this last move up using fridays low to high, comes in around 1.5620 now, so that could be a good entry/add on area wherever it hits that trendfan line with the arrow. Actually will post two charts one with just the trendfan and the second with fib, fib expansion for my target area and entry add on point, good, hope this is more exciting than my weekend partying post haha, take care Raz

Yo Raz,

Do you have photoshop?? It does nice arrows, might help you in the drawing your charts department.

But making money is better than losing money; but just know that antsy money never wins long term.

As you can see I dont use/have photoshop...Im kind of a techno disaster. And I agree I was unhappy with this weeks trades, I should have just taken the week off, when you dont feel comfortable you shouldnt be trading...in any case I was being more prudent than anything which isnt always a bad thing, just not how I want to trade. Still I agree with what you say and Im trying to trust the little voice in my head, as it happens most of the time its right ...if you have time mark up my trendfans and add what you think...speak soon, Raz

I keep telling you.. use the equidistant thingie on MT4!! That will make your life better..

How do you select the points for drawing the equidistant thingie and how do you use it?

Right,
first of all find the gadget which is next to trendlines on mt4 at the top on the left, actually its between trendline and the fibo line..so just place it on your chart like a new trendline, and double click on it to move the lower or upper line up or down. Play with it, its quite simple, you will see....

Have a great easter everyone, Im taking the next week and a half off as the kids are on hols, many pips to all of you! Raz

Have a great Easter yourself! Take care and be safe!

catch you on the flip side enjoy the hols

Hi all,
Well the holidays are nearly over and Ive got a few minutes to put down some long overdue observations ...about my trading my addons and etc

First of all, things have been going really well. Levelled out and calm, I am now trading full lots. This for me is great because when I started trading I traded full lots -talk about dangerous! But after snuffing out a few live accounts...I learned about money management and traded mini and even micro for the longest time. I really thought I would be stuck in mini land forever and ever amen. So this is a big deal for me. As you know if you ve been reading my journal I have been working on adding on using the Pascal triangle. I am convinced it is the best method for reducing risk, but you know I cant find any way to feel good about moving my entry point up way higher than when I orignally entered the market. Yes, the orignal entry is less risky, but as you add and your averaged posi moves up with the market, you start thinking about how great it would have been to have that same position 50 or so pips farther down..well, you get the picture. So, I have come to a compromise with myself. When I am feeling very secure as in I have waited as much as I believe is prudent for a nice entry...letting the market come to me etc etc and I am really confident about my decision, I buy in with my full position. I put my predetermined sl on which is not set in stone ie I am using fibs ppzs and other methods to determine my sl, and I trail manually.
ANY OTHER ENTRIES ie when I have bought in during a fast rise and havent been able to wait for a decent drop because there just hasnt been a decent drop, I buy in with a much smaller position and use the Pascal system to add on. This has worked very well for me, psychologically and financially speaking.
I have given back more pips than I care to remember in the past few months, with this jagged up down up down now youve got 100 pips now youre out at breakeven kind of behavior and Im still working on that. I read somewhere and I think its very sound advice that we often get the putting stops on trades backwards ie instead of putting tight stops on at the beginning and giving them room the more profit you are in, you should do the exact opposite, give the trade room to breathe with a larger stop to begin with and tighten it up as you go along...
I dont know if anyone agrees but we are in a new kind of market where we need to adopt new measures and taking profit earlier seems to be something I have to get used to, I luckily closed a trade yesterday and this morning woke up to see we had dropped 100 pips so would have been out at breakeven yet again...its a tough decision and everybody is different but personally I need to have some reward for my hard work, so whether it be scaling out or closing at a breach of a predetermined level I am going to work on that ...
On another note, remember its not all black and white, more like its all BRIGHT YELLOW lol ...no just kidding its like if the market isnt going up it doesnt mean its going down...there is that going absolutely nowhere phase as well which is hard as you know what to trade but is there just the same...take care and hope you are all doing as well as me, and I bet you dont feel about 100 years old like I do this week (kids on holidays ya know)
Well does this qualify as long and dull I hope not haha, speak soon, and thanks for dropping in, Raz

Hi Raz
great post, nice to see you are finding your feet and growing in confidence, hard work and determination pays in the end.

It’s always nice to see people progress in this tricky business…

Your support means a great deal to me...nobody can make you a better trader its up to you alone, Ive had my share of really crappy times where Ive had to pick myself up, but its really nice to have even a handful of familiar ...(cant say faces can I?) haha ... nicks¨ to rant to, whine to, cry to...and eventually share some albeit small success with...good luck to you all, Raz

Glad to see you're doing well Raz!

I was also in a euro trade last night but was knocked out with +50 pips. I'm in almost the exact same trade again... if it goes up and then comes back down that might be another +50 lol. I'm finding every time it does those kinda moves, your account actually goes up by quite a bit because of the compounding.

The advice you gave on stops is very helpful and I ended up doing just that last night. Seems to be working well so I'm going to stick to it. Keep up the good work

Well, still sitting on the sidelines watching ...I would like to see 5600 hold convincingly before getting in (ie I would like to see another downside test)and being nfp week Id rather stay out to be honest...even though nfp aint what it used to be ...big hi to everyone, Raz