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Monarch's Journal of 2008 Trades

  • #561
  • Apr 13, 2008 11:59pm Apr 13, 2008 11:59pm
Quoting Syafi
Great idea... as those planning to learn can see the chart and the analyst as it is unfolded.
I plan on having you with me to make those calls on trades.

Cheers, and good day to you friend.

ken
  • #562
  • Apr 14, 2008 12:07am Apr 14, 2008 12:07am
typical 70 pip 35 pip move , I went short at 158.60
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  • #563
  • Apr 14, 2008 12:09am Apr 14, 2008 12:09am
The break of support was a bear attack with the break of supp line at 158.64.

There was a good move down with the last 11 bearish candles going +70 pips or more and now have the retreat in progress touching the 18lwma area for +30 pips retrace.

I would take 1st short here about 5 minutes ago, but I am not trading tonight because I am going to sleep here shortly, just monitoring this process only.
  • #564
  • Apr 14, 2008 12:11am Apr 14, 2008 12:11am
Quoting Syafi
typical 70 pip 35 pip move , I went short at 158.60
Exactly my thoughts in the post above, very good analysis, and segment movement trade entry.

If price comes up 10 against you, then at that point I would add another entry, or if it goes for 10 pips or so, exit with profits.

Very good and it looks just like my setup, wow.

Ken

Note: These are the type of trades we will be taking on the SKYPE chat room, tell us "S" when you exit on this trade.

Nice indeed.
  • #565
  • Apr 14, 2008 12:15am Apr 14, 2008 12:15am
Took the second move up past the last high

Entry 1 - 158.61
Entry 2 - 158.66
Average entry short is 158.64

Will target 156.47 area

Waiting for drop still

I don't usually make many trades on the Sunday Market session, watching this support line here at 158.64 line to reject the retreat zone entry.
  • #566
  • Apr 14, 2008 12:20am Apr 14, 2008 12:20am
Quoting monarch
Exactly my thoughts in the post above, very good analysis, and segment movement trade entry.

If price comes up 10 against you, then at that point I would add another entry, or if it goes for 10 pips or so, exit with profits.

Very good and it looks just like my setup, wow.

Ken

Note: These are the type of trades we will be taking on the SKYPE chat room, tell us "S" when you exit on this trade.

Nice indeed.
I put TP 10 pip, it get 6 pip then back up as you can see , now I change TP to 20 pip as i believe it might go back down to retest the low

I had another Short pending at 158.75 as it was what I thought the support that break. but it just came to 158.66 before goes back down ..
  • #567
  • Apr 14, 2008 12:28am Apr 14, 2008 12:28am
Quoting Syafi
I put TP 10 pip, it get 6 pip then back up as you can see , now I change TP to 20 pip as i believe it might go back down to retest the low
I have 10 on mine, so far was up +6, and getting sleepy, hurry it up to get me to bed. LOL

I think it will go to bottom and would like to remain 10 pips buffer above this area.

But for now wil take anything at +10 or more.

Cheers.
Ken
  • #568
  • Apr 14, 2008 12:31am Apr 14, 2008 12:31am
+ 10 on first lot exit.

Waiting for second lot exit still

maybe around 158.40 or so, but would take 15 pips if it strike that low quickly.

YOU "S"?
  • #569
  • Apr 14, 2008 12:33am Apr 14, 2008 12:33am
Getting impatient and looking at the close trade button
  • #570
  • Apr 14, 2008 12:36am Apr 14, 2008 12:36am
Quoting monarch
+ 10 on first lot exit.

Waiting for second lot exit still

maybe around 158.40 or so, but would take 15 pips if it strike that low quickly.

YOU "S"?
another winning trade taken just barely.

I netted 10 pips altogether on two entries. In and out in about 20 minutes.

Now if I could make 10 pips every 20 minutes!

Let's see I usually watch the market for 8 hours a day and to be conservative we will say 4 of those hours could be traded.

So 30 pips an hour equals 120 pips a day! I think that will work!

I'm out for the night! See you all tomorrow!
  • #571
  • Apr 14, 2008 12:36am Apr 14, 2008 12:36am
Did anyone else see this setup and take a trade besides "S" and I??

These are the trades that I look for and will be monitoring on the SKYPE Chat Room, the typical attack, retreat, rejection at boundry line and surge to test attack zone once again.

I have taken +10 on the first entry adn waiting for a second exit, which has not dropped far enough down yet.

Usually I take all exits around 10 pips, but I am remaining in on the 2nd for some analysis for a future scale out option on the EJ 5 min setup.

Moving up to Retreat Zone now, Next Entry Short at the 50 Ema to add to the one entry short I am in now.

All a test from the first exit at +10.

Ken
  • #572
  • Apr 14, 2008 12:39am Apr 14, 2008 12:39am
Do you ever scale in ?
if it goes 10 pip for you add another lot
  • #573
  • Apr 14, 2008 12:40am Apr 14, 2008 12:40am
Quoting Big Pippin'
another winning trade taken just barely.

I netted 10 pips altogether on two entries. In and out in about 20 minutes.

Now if I could make 10 pips every 20 minutes!

Let's see I usually watch the market for 8 hours a day and to be conservative we will say 4 of those hours could be traded.

So 30 pips an hour equals 120 pips a day! I think that will work!

I'm out for the night! See you all tomorrow!
Why trade so much??

Just wait for premium trades and take the +10 pips, you could do one to two of these in just a four hour session instead of 8 hours.

When you sit too long in front of the screen you will get tired and make bad decisions, I watch patterns off and on, and when I look over and see it, I trade it.

When I am at my computer, I am doing many things outside of FX, it is on my right side monitor and does not get all my attention.

Keep it simple, quick, and profitable.

20 pips a day is plenty for anyone I believe, more then that is awesome.

Cheers, sleep well.

Ken
  • #574
  • Apr 14, 2008 12:42am Apr 14, 2008 12:42am
Quoting monarch
Did anyone else see this setup and take a trade besides "S" and I??

These are the trades that I look for and will be monitoring on the SKYPE Chat Room, the typical attack, retreat, rejection at boundry line and surge to test attack zone once again.

I have taken +10 on the first entry adn waiting for a second exit, which has not dropped far enough down yet.

Usually I take all exits around 10 pips, but I am remaining in on the 2nd for some analysis for a future scale out option on the EJ 5 min setup.

Moving up to Retreat Zone now, Next Entry Short at the 50 Ema to add to the one entry short I am in now.

All a test from the first exit at +10.

Ken
I don't know if you saw my last post just minutes ago.

I took the trade and won on it. I exited both positions already. Don't plan on staying up much longer.

My entries were 158.61 and 158.67 tp was 158.55.

In out loving life!
  • #575
  • Apr 14, 2008 12:42am Apr 14, 2008 12:42am
Quoting Syafi
Do you ever scale in ?
if it goes 10 pip for you add another lot
I know the other thread mentions this type of entry, one short and when price moves your way add more.

I really just like to take a trade near as I can to my thought of best entry, take my pips and get out, I do scale in when price goes against me, because I may have missed the entry being a little early, but those only happen part of the time.

I would rather be in bed now, if I had taken both exits for +10, I would be out and a sleep, now I sit here waiting, which is not what I want to do.

Have to get up in 5 hours for a full day, and I don't want to waste time staring at charts.

Will take exits somewhere here on next drop.
  • #576
  • Apr 14, 2008 12:45am Apr 14, 2008 12:45am
Quoting Big Pippin'
I don't know if you saw my last post just minutes ago.

I took the trade and won on it. I exited both positions already. Don't plan on staying up much longer.

My entries were 158.61 and 158.67 tp was 158.55.

In out loving life!
Yeah baby, your firing on all cylinders today.

Keep up the great job BP, those are great entries and a good exit to take quick profits.

Maybe we won't have to skype at all. lol

Cheers bro, let's do this again tomorrow.

Ken
  • #577
  • Apr 14, 2008 12:46am Apr 14, 2008 12:46am
Quoting monarch
Why trade so much??

Just wait for premium trades and take the +10 pips, you could do one to two of these in just a four hour session instead of 8 hours.

When you sit too long in front of the screen you will get tired and make bad decisions, I watch patterns off and on, and when I look over and see it, I trade it.

When I am at my computer, I am doing many things outside of FX, it is on my right side monitor and does not get all my attention.

Keep it simple, quick, and profitable.

20 pips a day is plenty for anyone I believe, more then that is awesome.

Cheers, sleep well.

Ken
I watch it that much because work gets very boring at times so I pop in a movie on my laptop and just keep an eye on things.

The internet gets quite boring to me after I have visited the same pages over and over!

I am patient and wait for the setups that you have taught me and make my money.

Nothing better than making money at the job and making money here too!

Okay I'd rather not have the job but need it right now for the time being.

With this strategy though I will be done soon!
  • #578
  • Apr 14, 2008 12:47am Apr 14, 2008 12:47am
Out as well since the lots size is 5 time more then my usual sizes .. Green 4 pip is to me more then any Reds
  • #579
  • Apr 14, 2008 12:50am Apr 14, 2008 12:50am
Quoting Syafi
Out as well since the lots size is 5 time more then my usual sizes .. Green 4 pip is to me more then any Reds
Very well done bro.

Some trades just look good and are hard to resist.

Good job on the added lots and exit for GREEN PIPS.

I always like a +++ anytime, even a +1 is better then a ---

Looks like your seeing the same things as Big pippin and I,

This is like a ATM Card once you get use to all the mechanics of the movement, which is present every day on EJ.

Cheers bro.

Note: I stayed in still on the 1lot short, as a test only for a further drop, may have to save it if price goes up more. LOL.

When it is a test, I allow it to go longer and do the yo-yo moves, and I don't like those.
  • #580
  • Apr 14, 2008 12:53am Apr 14, 2008 12:53am
Quoting Big Pippin'
I watch it that much because work gets very boring at times so I pop in a movie on my laptop and just keep an eye on things.

The internet gets quite boring to me after I have visited the same pages over and over!

I am patient and wait for the setups that you have taught me and make my money.

Nothing better than making money at the job and making money here too!

Okay I'd rather not have the job but need it right now for the time being.

With this strategy though I will be done soon!
I would like to say you could be very profitable using this strategy, learn the ins and outs of each phase and patterns so when they arrive you know how to trade them, and also rescue those that don't work perfectly.

I have a few options when price refuses to follow patterns I look for, and I take certain avenues to exit trades that may not follow what I expect.

Always expect the unexpected and you can achieve success.

Go in blindfolded on strategy only, we can hang ourselves to dry quickly.

Ken
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