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Monarch's Journal of 2008 Trades

  • #661
  • Jun 27, 2008 9:59pm Jun 27, 2008 9:59pm
This past few years have been a great one, and from the recent conversation I have had with you Monarch I realize that all good things do come to an end.

I wanted to be the first to thank you for your inspiring and ever continuing teachings to all of us here at the Forex Factory.

From the days of Gbp/Usd thread, the many post upon all the other threads, and unto the final journals of trades you have taken, Good Job!

I have been a quiet follower of your teachings, but through them all I have become so much wiser in all manner of living.

Congratulations on all your success, and we hope your future to be as bright as your past and your presence here.

So farewell "The Great Monarch" and may you be blessed and rewarded for all the things you have done for us.

We are losing an awesome trader, but we know we have a good friend who will be there when we have questions.

As you have always signed off with,

CHEERS!

N2FX
(A newbie to successful trader)
  • #662
  • Jun 28, 2008 8:24pm Jun 28, 2008 8:24pm
Never say Never
  • #663
  • Jul 1, 2008 8:57pm Jul 1, 2008 8:57pm
Quoting N2FX
This past few years have been a great one, and from the recent conversation I have had with you Monarch I realize that all good things do come to an end.

I wanted to be the first to thank you for your inspiring and ever continuing teachings to all of us here at the Forex Factory.

From the days of Gbp/Usd thread, the many post upon all the other threads, and unto the final journals of trades you have taken, Good Job!

I have been a quiet follower of your teachings, but through them all I have become so much wiser in all manner of living.

Congratulations on all your success, and we hope your future to be as bright as your past and your presence here.

So farewell "The Great Monarch" and may you be blessed and rewarded for all the things you have done for us.

We are losing an awesome trader, but we know we have a good friend who will be there when we have questions.

As you have always signed off with,

CHEERS!

N2FX
(A newbie to successful trader)
What happen to monarch? did he retire or is he vacation on island?
no one say anything to this forum.
  • #664
  • Dec 4, 2008 9:56pm Dec 4, 2008 9:56pm
It has been a long time since my last post in this journal, actually since I have posted on FF.

I really look forward to the coming months (Dec/Jan/Feb) my favorite trading time of the year, and I wanted to share some trades and analysis along the way during this holiday season.

For several years FF members have been very good at sharing trades, thoughts, analysis, and conversation.

I figured I would give back once again for the next few months as we approach crossroads in the currency market.

I am going to post some charts and thoughts here, hopefully they can help some of the newbies in their quest to fame. lol

Cheers,

Ken
  • #665
  • Dec 4, 2008 10:26pm Dec 4, 2008 10:26pm
After a big move up on London session for a couple hundred pips, London closed with Longs, and then the Dow plunged, I took many shorts on the rally following the selloff after London close.

This chart shows the Asia session in range from the moves in London and NY today, I expect lots of ranging here before the NFP, so many pips are available in a range like this.

Key, entry as precise and exits with small stops in a failed reversal of segment range.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 1 Min Chart.PNG Size: 31 KB
  • #666
  • Edited 11:25pm Dec 4, 2008 11:05pm | Edited 11:25pm
12 am EST

Long 1.2752 and 1.2746

Exit +4, +10

Top of hour reversal trade.

Higher then supp line seen in chart above.
Attached Image (click to enlarge)
Click to Enlarge Name: 5 min chart.PNG Size: 12 KB
  • #667
  • Dec 5, 2008 6:00pm Dec 5, 2008 6:00pm
Nice to see you posting again..Interesting chart keep them coming please.See you are back on EU again.

Best wishes

Walter
  • #668
  • Dec 6, 2008 6:44am Dec 6, 2008 6:44am
Quoting oztrader
Nice to see you posting again..Interesting chart keep them coming please.See you are back on EU again.

Best wishes

Walter
Good to hear from you W, I hope all is well.

Give me a shout on Skype this week if your around.

Ken
  • #669
  • Dec 6, 2008 6:59am Dec 6, 2008 6:59am
After the high and lows were set from the NFP news I waited for either the high or low to be retested.

I missed my lower entry by just 1 pip, I prefer entry 3-4 pips from major lows, but maybe I will adjust it to 5 now lol.

Was a great late Friday of trading and another great week of pips with EU.
Attached Image (click to enlarge)
Click to Enlarge Name: Friday EU Trade Setups.PNG Size: 25 KB
  • #670
  • Dec 6, 2008 7:19pm Dec 6, 2008 7:19pm
Good old style . congratulation Ken.
  • #671
  • Dec 7, 2008 11:57am Dec 7, 2008 11:57am
Quoting Syafi
Good old style . congratulation Ken.
Just one of many ways to clip easy pips on EU, there is also the breakout trades that form, which I will be posting this week.

The last few charts show the reversal patterns on the 5min, but I also watching the 1min chart for a precise entry point, and occassionally I will glance at the 1sec for fun.

Cheers,

Ken
  • #672
  • Dec 7, 2008 12:00pm Dec 7, 2008 12:00pm
Hey Ken

Great to see you back posting again - maybe I should start posting more often

Kind Regards
Steve
  • #673
  • Dec 7, 2008 12:03pm Dec 7, 2008 12:03pm
Quoting steviet
Hey Ken

Great to see you back posting again - maybe I should start posting more often

Kind Regards
Steve
Good to hear from you again friend.

I have been reading up on your thread, but really not posting too much the past 6 months or so.

I like to spend time on the forex factory during holidays, so I plan to be around some here the next month or two.

Hope your trading is going good, have you talked with Pete lately?

Give me a pm this week, would like to chat with you on some trading ideas, if you have time.

Gotta run here now. cheers.
  • #674
  • Edited 1:00pm Dec 8, 2008 12:47pm | Edited 1:00pm
Long EU at 1:38 EST 1.2900

1 Min Chart had major support here at the 00, good for a quick 15 pips.

Once NY closes, I will begin focusing on High/Low areas of range for small 5/6 pip moves.
Attached Image (click to enlarge)
Click to Enlarge Name: Monarch 1min EU trade Monday.PNG Size: 24 KB
  • #675
  • Dec 8, 2008 12:56pm Dec 8, 2008 12:56pm
Possibilities From London and NY sessions today.

I usually watch and mark areas of importance during these two sessions, so patience works great, let it come and show itself.

Cheers.

15 Min Chart
Attached Image (click to enlarge)
Click to Enlarge Name: 15 Min EU Monday NY Session.PNG Size: 25 KB
  • #676
  • Edited 2:02pm Dec 8, 2008 1:41pm | Edited 2:02pm
1.2936 Double top 1 min chart 2:26 PM EST

Still looking for the 1.2945/50 area test at resistance level

Level 1.2945 reached, watching for extreme at 2953 prior to 3pm EST

Updated:
3pm EST price spiked the 1.2953 line and closed the hour at 2953.

Now waiting for overall stall or breakout of this 2950 level.
  • #677
  • Edited 2:34pm Dec 8, 2008 2:20pm | Edited 2:34pm
Short EU 1.2936 was in profits and then drawdown in spike up.
I took 2nd short EU 1.2951 after stall on 1min near the 1.2953 extreme resistance.

Closed both positions for avg profit on the big drop after 3pm EST reversal setup.

This is the 15 min chart showing both Short areas and the exit.
Attached Image (click to enlarge)
Click to Enlarge Name: 15 Min EU Monday NY Session updated.PNG Size: 27 KB
  • #678
  • Edited 11:08am Dec 9, 2008 10:19am | Edited 11:08am
Watching the move up here to the High from Monday in the London session.

Price stalled nicely at the 1.2915 area, taking 2 shorts for quick pips.

Short +5 and +10.

40 minutes until London closes, then I will monitor the range lines for additional trades.

Price is trapped in range from 1.2916 and 1.2888.

Possible breakout trades before London closes, the Dow is down 100 for now, so Longs may be finished here for the moment.
Attached Image (click to enlarge)
Click to Enlarge Name: Tues EU London Close Hour.PNG Size: 28 KB
  • #679
  • Edited 11:08am Dec 9, 2008 10:38am | Edited 11:08am
1.2916 held for a time, then broke over the top with a LONG entry exit +10.

20 min till London close, looking for 1.2940 and a possible ultimate top test at 1.2967.

Short 1.2930 1st entry with Dow still down.

These shorts are quick entries based on the 1min stalls, knowing that we can still reach the high above, all stops are above 1.2967.

Exit Short 1.2930 for quick +9 pips.

Will now wait for another test of 40 or 60 area above.
  • #680
  • Edited 11:07am Dec 9, 2008 10:43am | Edited 11:07am
Price is testing 1.2940 area now.

Short 1.2936 with target at 1.2926 and stop above high area.
Short 1.2948 with target at 1.2926, may adjust this to 2936 for breakeven on entry 1.

Updated 12:06 pm EST
Exit E1 +1
Exit E2 +12
2nd entry profit with 1st entry at breakeven.
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