Attachments: MW's trading journal

MW's trading journal

#1,061
Jun 11, 2008 11:06am Jun 11, 2008 11:06am

mike w
Joined Jul 2006 | Status: Trader | 4,090 Posts

Quoting Infinity

Disliked

Everything is good so far Mike. That gu trade is going really well... I opened another position at 9500 and closed both of them at 9615. I then reopened a position at 9580 and closed at 9650... Basically scalping now because of that bad news last night. These market conditions lately have made me very conservative with my trading as things are changing quickly. Anyway....Good luck to you my friend....

Ignored

Hey man, It's good to hear it! Yeah the g/u is looking solid all around right now. I've already got to break even on a piece of the trade and will just keep adding on bullishness for the ride up. I agree about the market conditions too, that's why I'm done trading g/j for the time being as I haven't been able to find a solid trade and just seem confused with it. To me, there is no reason to try and trade something that your confused about so I've just moved on and have been doing fine with the other pairs. Thanks for the luck and the same for you!

I dream, therefore I become.

#1,062
Jun 11, 2008 12:36pm Jun 11, 2008 12:36pm

mike w
Joined Jul 2006 | Status: Trader | 4,090 Posts

Quoting mike w

Disliked

I'm adding to my long eur/jpy position now on the close of the 4 hour. The daily IB broke out to the upside as well so I'm looking to see that play out nicely.

Ignored

Solid trade, now I'm setting a partial at break even in order to minimize risk and watch it ride out.

I dream, therefore I become.

#1,063
Jun 12, 2008 4:11pm Jun 12, 2008 4:11pm

Bones
Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts

Well if I wasn't already committed I would have looked to have shorted this as we have a nice 4hr pin.
Only good thing is it may be good for my cable long which is under water at the mo lol

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On-site guru & also FF member's' psychiatrist, when not drinking tea

#1,064
Jun 12, 2008 6:15pm Jun 12, 2008 6:15pm

mike w
Joined Jul 2006 | Status: Trader | 4,090 Posts

Quoting Bones

Disliked

Well if I wasn't already committed I would have looked to have shorted this as we have a nice 4hr pin.
Only good thing is it may be good for my cable long which is under water at the mo lol

Ignored

I'm in the same boat with you man. I'm really contemplating taking those longs on cable off the table although they are so close to the stop that it really doesn't matter- that's the set amount I was willing to risk and I'm sticking with it. As for the usd/chf, we have to be getting something soon off of it. Last week closed as a dblhlc and that's more or less a given to more downside after the retracement.

I'd love to see the usd/cad move down a little and close the week as a pin bar. That would set it up for more downside.

I dream, therefore I become.

#1,065
Jun 17, 2008 1:16pm Jun 17, 2008 1:16pm

mike w
Joined Jul 2006 | Status: Trader | 4,090 Posts

A trade on the Usd/Jpy was placed last night based on the indecisive pin bar. The usd/cad trades are going well and I added to those when they got to a higher price. Eur/Jpy is still looking great just like the eur/usd for the longer term. The gbp/usd trades got stopped out but reentered on 4 hour bullishness at 1.9505. I'll be adding another bit to the usd/cad depending on how today closes- I'd like to see solid bearishness on this daily close.

I dream, therefore I become.

#1,066
Jun 17, 2008 10:49pm Jun 17, 2008 10:49pm

mike w
Joined Jul 2006 | Status: Trader | 4,090 Posts

On today's close, I closed the eur/jpy longs that I had open for quite some time. Largest overall position had more than 800 pips to it and there were a few positions around this core position. Good day in my book. I'll be back on tomorrow sometime with more updates. I am actually going to be going short now on the eur/jpy if we see a break down of today's bar.

I dream, therefore I become.

#1,067
Jun 18, 2008 12:02pm Jun 18, 2008 12:02pm

Infinity
Joined Feb 2008 | Status: Trader | 5,732 Posts

Quoting mike w

Disliked

A trade on the Usd/Jpy was placed last night based on the indecisive pin bar. The usd/cad trades are going well and I added to those when they got to a higher price. Eur/Jpy is still looking great just like the eur/usd for the longer term. The gbp/usd trades got stopped out but reentered on 4 hour bullishness at 1.9505. I'll be adding another bit to the usd/cad depending on how today closes- I'd like to see solid bearishness on this daily close.

Ignored

Great work as usual Mike... That eur/jpy was a beauty of a trade.. I am now long gu as well from 9480 but I already took some profit at 50 and 100 pips and have some still running.. I think we will get 9750 soon and then things should become more clear if that is taken out...

Good luck with your trades my friend....

Patience + Discipline - Greed = Success

#1,068
Jun 19, 2008 10:02am Jun 19, 2008 10:02am

mike w
Joined Jul 2006 | Status: Trader | 4,090 Posts

Quoting Infinity

Disliked

Great work as usual Mike... That eur/jpy was a beauty of a trade.. I am now long gu as well from 9480 but I already took some profit at 50 and 100 pips and have some still running.. I think we will get 9750 soon and then things should become more clear if that is taken out...

Good luck with your trades my friend....

Ignored

Excellent job on your G/U trade too Infinity! That 9750 call was a plus although it stopped only a few before that. I'm holding long on it for a while now and my stoploss has been moved up to 1.9570 for a free longer term trade IMO. The other trades are going good too at the moment. The usd/cad is on it's way to target, the usd/jpy that I took off the pin bar is going good unless today closes bullish, the eur/jpy that I took short is going good, the eur/usd is not too good right now although I'm expecting it to come up a bit fairly soon (just riding the waves on this one), had a small loss on gbp/jpy for 40 pips followed by a gain of 200 which wasn't bad although the loss still ticked me off lol Now I'm just waiting on those daily closes for any confirmation of what to do next.

I dream, therefore I become.

#1,069
Jun 20, 2008 10:14am Jun 20, 2008 10:14am

mike w
Joined Jul 2006 | Status: Trader | 4,090 Posts

Alrighty, update on the trades...I took 3 gbp/jpy trades short last night and all are in profit based on the 4 hour pin bar. I took the same setup of trades on the gbp/usd and all got stopped out at break even. The usd/jpy shorts are going good at the moment and I may hold these over the weekend just out of curiousity plus the fact that they are now free trades. The stopped and reversed trades on the usd/cad are working out well so far. My reversed short eur/jpy got the profit hit at 15 pips. I placed it there because the position wasn't looking good although I knew 15 pips would easily be hit before any more upside on the pair. That's it for now...no new trades until the weekly close. I've been trading dibs a lot but I'm not posting those here as I wouldn't be able to keep track of them all in this.

I dream, therefore I become.

#1,070
Jun 20, 2008 10:58am Jun 20, 2008 10:58am

Infinity
Joined Feb 2008 | Status: Trader | 5,732 Posts

Quoting mike w

Disliked

Alrighty, update on the trades...I took 3 gbp/jpy trades short last night and all are in profit based on the 4 hour pin bar. I took the same setup of trades on the gbp/usd and all got stopped out at break even. The usd/jpy shorts are going good at the moment and I may hold these over the weekend just out of curiousity plus the fact that they are now free trades. The stopped and reversed trades on the usd/cad are working out well so far. My reversed short eur/jpy got the profit hit at 15 pips. I placed it there because the position wasn't looking good although I knew 15 pips would easily be hit before any more upside on the pair. That's it for now...no new trades until the weekly close. I've been trading dibs a lot but I'm not posting those here as I wouldn't be able to keep track of them all in this.

Ignored

Great work again Mike....!!!

I am fully out of my gu long and now looking to short it.....waiting for confirmation. Have a great weekend and good luck with your trades...

Patience + Discipline - Greed = Success

#1,071
Jun 22, 2008 8:41pm Jun 22, 2008 8:41pm

mike w
Joined Jul 2006 | Status: Trader | 4,090 Posts

Quoting Infinity

Disliked

Great work again Mike....!!!

I am fully out of my gu long and now looking to short it.....waiting for confirmation. Have a great weekend and good luck with your trades...

Ignored

I just placed another short on the eur/jpy that has the possibility of running longer than short term. It was placed based on the hourly pin bar and I'll be moving my stops soon for it.

As for that g/u short thought Infinity, what basis are you putting on for looking for a shorting opportunity? I'm still thinking bullish on the pair and would like a different view from you. Thanks man!

I dream, therefore I become.

#1,072
Jun 22, 2008 10:22pm Jun 22, 2008 10:22pm

Infinity
Joined Feb 2008 | Status: Trader | 5,732 Posts

Quoting mike w

Disliked

I just placed another short on the eur/jpy that has the possibility of running longer than short term. It was placed based on the hourly pin bar and I'll be moving my stops soon for it.

As for that g/u short thought Infinity, what basis are you putting on for looking for a shorting opportunity? I'm still thinking bullish on the pair and would like a different view from you. Thanks man!

Ignored

Hi Mike,

The main reason why I was thinking to short gu was this weekly chart. It is this chart which gave me the 9750 target long trade the other day. I expect a reversal at this point to the 9550 area which also coincides with the lower tl on the 4h. The 4h is also ob and turning down now too... I currently have some small short positions from above 9750 with stop above 9800. I am watching this carefully and may tp early because us dollar is very weak at the moment and rate decision coming up may add volatility. Good luck with your trades my friend and I will let you know what happens with this one....

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Patience + Discipline - Greed = Success

#1,073
Jun 23, 2008 6:42am Jun 23, 2008 6:42am

mike w
Joined Jul 2006 | Status: Trader | 4,090 Posts

Quoting Infinity

Disliked

Hi Mike,

The main reason why I was thinking to short gu was this weekly chart. It is this chart which gave me the 9750 target long trade the other day. I expect a reversal at this point to the 9550 area which also coincides with the lower tl on the 4h. The 4h is also ob and turning down now too... I currently have some small short positions from above 9750 with stop above 9800. I am watching this carefully and may tp early because us dollar is very weak at the moment and rate decision coming up may add volatility. Good luck with your trades my friend and I will let you know what happens with this one....

Ignored

Hey Infinity, great call bro! Good work on it man! I got stopped out on mine for a positive from the lower 1.95's this morning lol

I dream, therefore I become.

#1,074
Jun 23, 2008 8:43am Jun 23, 2008 8:43am

Infinity
Joined Feb 2008 | Status: Trader | 5,732 Posts

Quoting mike w

Disliked

Hey Infinity, great call bro! Good work on it man! I got stopped out on mine for a positive from the lower 1.95's this morning lol

Ignored

Thanks Mike.....

I took profit at 9592 on this trade and I am now flat.. It was a very sweet trade with high probability and low risk.

I am sorry that you got stopped out of your earlier long but I am glad that it was still a profitable trade for you bro and I am sure you took some off at the top too.

Anyway, keep up the good work bro........I will talk to you later.....

Patience + Discipline - Greed = Success

#1,075
Jun 23, 2008 11:08am Jun 23, 2008 11:08am

mike w
Joined Jul 2006 | Status: Trader | 4,090 Posts

Quoting Infinity

Disliked

Thanks Mike.....

I took profit at 9592 on this trade and I am now flat.. It was a very sweet trade with high probability and low risk.

I am sorry that you got stopped out of your earlier long but I am glad that it was still a profitable trade for you bro and I am sure you took some off at the top too.

Anyway, keep up the good work bro........I will talk to you later.....

Ignored

Nice trade Infinity! yeah, I made profit so I'm not too worried about that lol As long as I'm making something then I'm not too worried.

As for trades, I'm adding to the usd/jpy shorts right now based on the 4 hour bearish pin that just formed and will add again once it breaks to the downside for certain.
I'm still in those g/j shorts from last week and they are going great. Once we get a breakout of this 4 hour IB, I'll add more to that position as well.

usd/chf is gearing up to be a solid shorting opp. I'm waiting for another solid place to short the usd/cad down a bit further if we see some solid PA on the 4 hour or daily charts.

The eur/chf is at a solid area and may close bearishly soon too.

I dream, therefore I become.

#1,076
Jun 24, 2008 10:22am Jun 24, 2008 10:22am

mike w
Joined Jul 2006 | Status: Trader | 4,090 Posts

The eur/chf and gbp/jpy longs that I have open from yesterday are going pretty good right now. I'm locking in profit and letting them ride. If the 4 hour closes solidly for both, I am going to add to the position.

I dream, therefore I become.

#1,077
Jun 24, 2008 10:28am Jun 24, 2008 10:28am

mike w
Joined Jul 2006 | Status: Trader | 4,090 Posts

Based on this 4 hour chart, when it closes, we'll have a stop and reverse play. I'm still in profit, but need to realize that it will be headed against me if I don't get out so I'll simply take the smart side- with the money. I'll be long if it closes like this.

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I dream, therefore I become.

#1,078
Edited 10:52am Jun 24, 2008 10:34am | Edited 10:52am

mike w
Joined Jul 2006 | Status: Trader | 4,090 Posts

We're also seeing a continuation with the gbp/jpy.

*BTW, this says demo but im trading real time on my other accounts. I'm just seeing if I could trade 25 dollars up, because people say you cant and I call bullshit on that. A friend asked me if he really needed a lot to start up. I dont personally think you need 25,000 to start or more so I'm proving it wrong with this. I guess I'll open up the real one for 25 even though its the same thing. It'll be at 150 in a week, then we'll start cooking.

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