MW's trading journal | Page 50 | 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

  • #981
  • May 12, 2008 12:40pm May 12, 2008 12:40pm
Quoting mike w
A little late, but here's the weekly update.

Eur/usd - The week closed bullishly and hasn't looked back since. I plan on holding these longs for a while

Usd/Jpy closed as a double high lower close and so after the retracement is over, I would look to short at a solid level.

Nzd/usd closed as a beovb and so, once we get to the higher .7700's, I plan on placing a few short orders into this pair.

Cad/Jpy closed as a beovb and I will be placing shorts on the next sign of bearishness on the 4 hour or daily.

That's really about it for solid looking opportunities based on the weekly charts. I plan on trading in that direction for trades based on lower timeframes for this week once retracements are done.
Good to read your updates Mike.

Euro has really taken off. I got in at a round number of 1.54 and also plan on going for the long haul. FYI, price on the 4hr is now challenging the 200ema. Zoom your chart right out and check out the 5/6 instances in the last year of that happening.

Rob
  • #982
  • May 12, 2008 2:46pm May 12, 2008 2:46pm
Quoting priceaction
Good to read your updates Mike.

Euro has really taken off. I got in at a round number of 1.54 and also plan on going for the long haul. FYI, price on the 4hr is now challenging the 200ema. Zoom your chart right out and check out the 5/6 instances in the last year of that happening.

Rob
Exactly like you noted Rob, it's bouncing away from that area of resistance with a 4 hour bearish pin. I plan on hedging by going short on the close of it for a quick profit- not holding very long at all. On the first sign of bullishness again, I plan on closing that position out.

The 4 hour charts will be closing in 15 minutes for me so I'll make another update then with anything that looks good including the eur/usd.
I dream, therefore I become.
  • #983
  • May 12, 2008 2:55pm May 12, 2008 2:55pm
Here's a solid trade on the gbp/aud. This pair is shaping up more and more for shorts.

First, we had a bearish outside vertical bar on the last 4 hour chart and now this hourly chart is right in line with it forming a bearish pin bar indicating more downside immediately. Excellent setup IMO. I am adding more to the position on the close because of the solid price action.

The daily will also, more than likely, end with a BEOVB.
I dream, therefore I become.
  • #984
  • May 13, 2008 11:57am May 13, 2008 11:57am
I'm taking a vacation for the rest of this week but I will be back and around to post some thoughts every now and again. Just about all the trades I took off of those 4 hour and daily analysis went well and most got closed on a stop of +5 or so.
I dream, therefore I become.
  • #985
  • May 13, 2008 1:53pm May 13, 2008 1:53pm
Quoting mike w
I'm taking a vacation for the rest of this week but I will be back and around to post some thoughts every now and again. Just about all the trades I took off of those 4 hour and daily analysis went well and most got closed on a stop of +5 or so.
Great work as usual Mike! The geppy took some time but the longs are playing out nicely now. I only caught a small part of the move up but it still counts as profit. Enjoy your vacation bro. Talk to you soon.
Patience + Discipline - Greed = Success
  • #986
  • May 13, 2008 3:02pm May 13, 2008 3:02pm
Quoting mike w
I'm taking a vacation for the rest of this week but I will be back and around to post some thoughts every now and again. Just about all the trades I took off of those 4 hour and daily analysis went well and most got closed on a stop of +5 or so.
Enjoy the break Mike

Rob
  • #987
  • May 19, 2008 11:51pm May 19, 2008 11:51pm
Alright, I'm back from an extended vacation now (couldn't bring myself to leave the sun to come back to PA.) I'll be posting thoughts beginning tomorrow as I am just getting back into things tonight and seeing how things have progressed since I've been gone. Have a great night everyone!
I dream, therefore I become.
  • #988
  • May 20, 2008 11:27am May 20, 2008 11:27am
Welcome back Mike hope you had a great time.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #989
  • May 21, 2008 9:35am May 21, 2008 9:35am
Quoting Bones
Welcome back Mike hope you had a great time.
Hey Tone, and thanks man! I definitely did lol

On the side of trading, wow, I have only seen one decent trade that I took last night on the gbp/usd. I shorted at the top of that channel and am riding it down to a small target of 1.96. I haven't seen anything on the dailies or 4 hour charts that look remotely well in terms of trading. I'll post on the close of day today for any comments on the market. Right now, I have none as it is incredibly flat.
I dream, therefore I become.
  • #990
  • May 21, 2008 10:14am May 21, 2008 10:14am
My 4 hour charts will be closing in 45 minutes and I'm noticing that the usd/jpy has the potential to close as a dbhlc. This is great as it is in line with the current trend on my 4 hour charts. I'll post the rest on the close.
I dream, therefore I become.
  • #991
  • May 21, 2008 2:49pm May 21, 2008 2:49pm
Quoting mike w
My 4 hour charts will be closing in 45 minutes and I'm noticing that the usd/jpy has the potential to close as a dbhlc. This is great as it is in line with the current trend on my 4 hour charts. I'll post the rest on the close.
it closed bearishly and I took the trade. My gbp/usd trade got stopped out for a small gain. Now, I'm just waiting for the daily candles to close.
I dream, therefore I become.
  • #992
  • Edited May 22, 2008 10:31am May 21, 2008 6:07pm | Edited May 22, 2008 10:31am
Quoting mike w
it closed bearishly and I took the trade. My gbp/usd trade got stopped out for a small gain. Now, I'm just waiting for the daily candles to close.
The usd/jpy trades are still on play and now I've added a small short on the gbp/jpy to compliment them. I will be closing this short at the area of support for a fairly quick profit at 202.65.

My eur/usd trades are well on their way now to my target of 1.60 along with the eur/jpy trades to 165. Those are longer term trades that I've had for a little while now.

Welp, I got stopped out at plus 5 on those short term shorts. The gbp/jpy couldn't reach below 70 and I closed one out at 85 because of that for a small gain along with the other profit from the stops.

Right now, I'm just waiting until I get another solid signal to trade with. 4 hour charts are out in 30 minutes, but I think everything is just going to be retracing now from the movement this morning.
I dream, therefore I become.
  • #993
  • May 22, 2008 11:33am May 22, 2008 11:33am
I've jsut placed a short on the usd/jpy as it is at the upper trendline now and I'm looking to see it veer away from this area. You can clearly see the trendline on a 1 hour chart. If it does breech the trendline, I will simply reverse the position and close out of the short position.
I dream, therefore I become.
  • #994
  • May 22, 2008 1:24pm May 22, 2008 1:24pm
Quoting mike w
I've jsut placed a short on the usd/jpy as it is at the upper trendline now and I'm looking to see it veer away from this area. You can clearly see the trendline on a 1 hour chart. If it does breech the trendline, I will simply reverse the position and close out of the short position.
Closed on the break and am now long from 104.15. That higher close is telling me that we should keeping moving higher into tomorrow after a retest of the trendline.
I dream, therefore I become.
  • #995
  • May 22, 2008 3:32pm May 22, 2008 3:32pm
Quoting mike w
Closed on the break and am now long from 104.15. That higher close is telling me that we should keeping moving higher into tomorrow after a retest of the trendline.
I am most likely going to close this out for a small loss if there isn't much movement by 8 o clock tonight. My 8 hour charts close then and if it closes bearish off this level of resistance then I'll have to, yet again, do as the charts say and close for a loss then reopen another position accordingly.
I dream, therefore I become.
  • #996
  • May 22, 2008 3:48pm May 22, 2008 3:48pm
Wide open space on g/j and on U/j. Now, I am waiting for the close of this to give the final signal to take the shorts from resistance. U/J was at the top of the bearish trendline and so I'm still thinking that will make it sink from here. I am waiting for the close before exiting out my U/J long for a loss and possibly exiting at breakeven. Time will tell and I'll do nothing until the close unless I'm getting out at breakeven.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: wide ope space on gj wait for close.gif Size: 13 KB
Click to Enlarge Name: wide ope space on uj wait for close.gif Size: 13 KB
I dream, therefore I become.
  • #997
  • May 22, 2008 4:24pm May 22, 2008 4:24pm
I ended up closing that trade long and now I am waiting for confirmation of the short opportunity at the close of this 4 hour or 8 hour candle. One is at 7 o clock and the other is at 8 o clock. The loss was 7 pips and although I could have possibly exited at breakeven at a point in the near future, I will not allow myself to depend on hope for a trade- instead I'm just using the solid logic that it could go further against.
I dream, therefore I become.
  • #998
  • May 22, 2008 5:09pm May 22, 2008 5:09pm
I just took the short on the close of the 4 hour pin bar. Stop is above the pin at 104.45. This should play out nicely with the fact of the confluences at this level supporting a downwards move.
I dream, therefore I become.
  • #999
  • May 22, 2008 7:36pm May 22, 2008 7:36pm
Hey Mike,

Seeing some good stuff going on here, little question for you. I may be crazy, but I think that Eur/Usd may be in for quite the drop. looking at 1.4600 overall....its on a daily TF....take a look and let me know what you think....I am short from 1.5790 (much shorter term trade, but if what I see confirms itself in the next day or so...I may hold it for quite a while)

Take a look...basically daily stoch's caught my eye (no surprise with the rise last few days) but a potential Head and Shoulder's.....surprising yes in lieu of all the fundamentals.....but I am a technical trader...gonna keep an eye on it

Zack
The only sovereign I can allow to rule me is reason.
  • #1,000
  • May 23, 2008 8:49am May 23, 2008 8:49am
Quoting mike w
I just took the short on the close of the 4 hour pin bar. Stop is above the pin at 104.45. This should play out nicely with the fact of the confluences at this level supporting a downwards move.
Great trade Mike.....

I took a similar play that was on the gj yesterday and it played out nicely. I am now out of all positions and will look to start fresh next week. Good luck my friend and have a great weekend....

Bless
Patience + Discipline - Greed = Success
7 traders viewing now