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Monarch's Journal of 2008 Trades

  • #701
  • Edited 9:00am Dec 21, 2008 12:20am | Edited 9:00am
Setup Chart 4Hour

Price breaks above the 1.4000, target 1.4101 up to 1.4410 areas

Price breaks below the 1.3824, target 1.3665 area
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour EU trade setup.PNG Size: 21 KB
  • #702
  • Dec 21, 2008 2:18pm Dec 21, 2008 2:18pm
Hey Monarch, how's it going? I saw you started up your thread again. I thought you were learning the rainbow method from cyrox.com? Your doing all this retracement and fibo"nazis" stuff and no rainbow. Don't give up on the the simple method and rainbow. The rainbow is the answer, just keep it simple and it will make money for you. Take it from someone who studied forex for over 5 years. Keep up the good work. Don't give up. Charge on. The 1 second is great for making easy pips.
  • #703
  • Dec 21, 2008 4:09pm Dec 21, 2008 4:09pm
Quoting chrinist
Hey Monarch, how's it going? I saw you started up your thread again. I thought you were learning the rainbow method from cyrox.com? Your doing all this retracement and fibo"nazis" stuff and no rainbow. Don't give up on the the simple method and rainbow. The rainbow is the answer, just keep it simple and it will make money for you. Take it from someone who studied forex for over 5 years. Keep up the good work. Don't give up. Charge on. The 1 second is great for making easy pips.

I do agree on the 1 second as the greatest pip maker, unfortunately I don't have my laptop fixed yet, but plan on having it back online first of Jan.

I have also worked on my daily goal of 25 pips as standard, and I can get that simple with my 1 min setup, and a couple trades, with very small risk.

I can only get my 1 second to work on that computer.

Even though I am showing several different analysis on the thread, I am basically trading the 1 second rainbow on the 1 minute chart, same idea, just a little slower setup for now. (and no indicators or moving average, ie; rainbow setup)

I will be back again soon, just not soon enough.

Glad to hear your doing so well, many are getting a good handle on the setups.

I will give you a shout once I am back in order. LOL.

Ken
  • #704
  • Dec 21, 2008 5:46pm Dec 21, 2008 5:46pm
E/U 1 Minute Trade.

Search, Find, Attack - Possible 50% chance.

Go For It!

Lets see if she can go up or down.

Long - 6:43 pm EST

Exit +20 pips 11 minutes Yippee
Attached Image (click to enlarge)
Click to Enlarge Name: EU 1 Min GO FOR IT.PNG Size: 18 KB
  • #705
  • Dec 21, 2008 6:20pm Dec 21, 2008 6:20pm
Took this trade based on the pre MT4 market open, when I seen price move upwards prior to open of charts.

Also my stop was lower then the MT4 open low, which was less risk seeing the movement was more upward in formation, and that we had a 1min reversal pattern before close on Friday.

Good way to start the week +20
Attached Image (click to enlarge)
Click to Enlarge Name: Profits +20.PNG Size: 18 KB
  • #706
  • Dec 21, 2008 6:46pm Dec 21, 2008 6:46pm
Here is the Breakout I was speaking of on Post #701

Price breaks above 1.4000 and moved up 46 pips so far.

I was taking a little break here, and missed it.

cheers
Attached Image (click to enlarge)
Click to Enlarge Name: 4 Hour Breakout Sunday.PNG Size: 24 KB
  • #707
  • Dec 21, 2008 7:12pm Dec 21, 2008 7:12pm
Not that I really wanted to trade this, but I took a smaller then normal entry SHORT on G/J with an "unbelievable" 25 pip spread, just amazing the spread they make us pay. lol

I will put a stop and limit in, and let it ride, either way, it is all good.

8:07 pm EST 134.43 Entry
Stop at break of top line 134.65
Limit at 134.23


Cheers
  • #708
  • Dec 21, 2008 7:22pm Dec 21, 2008 7:22pm
14 Minutes for G/J to break south for my exit, after gaining the 25 pip spread, I cleared my target for my +20 pips.

Another great one minute setup on a very predictable formation.

Gotta love the spread though

Ken
  • #709
  • Edited 8:14pm Dec 21, 2008 7:24pm | Edited 8:14pm
E/U +20 pips Long 1.3933
G/J +20 pips Short 134.43

Okay, that is my daily goal reached, going to chill till pre-Franky

Updated
E/U + 10 pips Short 1.3987
  • #710
  • Dec 21, 2008 8:02pm Dec 21, 2008 8:02pm
Quoting monarch
E/U +20 pips
G/J +20 pips

Okay, that is my daily goal reached, going to chill till pre-Franky
have to learn to chill like you.. i cant
  • #711
  • Edited 8:32pm Dec 21, 2008 8:05pm | Edited 8:32pm
Quoting Piters
have to learn to chill like you.. i cant
I thought I was chilling, but could not resist this short setup breaking out a third test SHORT SHORT, another 10 pips in very quick speed.

Now I will chill out, another 30 minutes. LOL

cheers

Note, I should have let this ride to 1.3955 area below, but I am a scalper by nature.

UPDATED Target 1.3955 reached. 9:30 pm EST
Attached Image (click to enlarge)
Click to Enlarge Name: 1 min Short setup.PNG Size: 20 KB
  • #712
  • Dec 21, 2008 8:08pm Dec 21, 2008 8:08pm
Quoting monarch
I thought I was chilling, but could not resist this short setup breaking out a third test SHORT SHORT, another 10 pips in very quick speed.

Now I will chill out, another 30 minutes. LOL

cheers
SO, it is not ONLY me...!!! Now I can trade again.. I was worried, that I am seeing setups all the time

j/k

take care..
  • #713
  • Dec 21, 2008 8:12pm Dec 21, 2008 8:12pm
Quoting Piters
SO, it is not ONLY me...!!! Now I can trade again.. I was worried, that I am seeing setups all the time

j/k

take care..
Oh Yea! Trade baby Trade. LOL

Too many setups in a 24 hour period, could drive a trader mad

Cheers Bro.
  • #714
  • Dec 21, 2008 9:01pm Dec 21, 2008 9:01pm
Another fun and fast 10 pips, maybe I best chill more often.

9:49 pm EST entry 1.3974
Attached Image (click to enlarge)
Click to Enlarge Name: Long EU 1 min chart.PNG Size: 18 KB
  • #715
  • Dec 21, 2008 9:22pm Dec 21, 2008 9:22pm
E/U +20 pips Long 1.3933
G/J +20 pips Short 134.43
E/U +10 pips Short 1.3987
E/U +10 pips Long 1.3974
  • #716
  • Dec 21, 2008 9:31pm Dec 21, 2008 9:31pm
Yea, I was sitting here, doing some line moving, and thought, SHORT, and when I was ready to press button on my setup, it took off without me.

I will get it together someday.
Attached Image (click to enlarge)
Click to Enlarge Name: BAM another nice setup.PNG Size: 17 KB
  • #717
  • Edited 9:58pm Dec 21, 2008 9:38pm | Edited 9:58pm
20 minutes until top of hour, I am watching for a break upwards at this moment, there are a few lines to break first.

Usually the last 12 minutes of the hour has some good moves, so will see here pretty quick.

Even though I may be bias Long at the moment, I will only take trades based on sup/res breach, so it could easily drop down.

Trade the breaks.

Update, 2 minutes till 11pm EST, I will wait for new hourly before making any trades, price has moved up slowly, but wanting to see the hourly candle here.
  • #718
  • Edited Dec 22, 2008 12:06am Dec 21, 2008 11:37pm | Edited Dec 22, 2008 12:06am
As I expected, a breakout upwards, the 1.4004/5 line was a tough one.

Price tapped it twice, I took a long on the dip in expectation of the break, with a stop below the low at 1.3992.

E/U Long +13 entry 1.3998 00:28 am EST

Total Pips today +78 (6 wins - 0 losses)
E/U +20 pips Long 1.3933
G/J +20 pips Short 134.43
E/U +10 pips Short 1.3987
E/U +10 pips Long 1.3974
E/U +5 pips Short 1.4004
Updated
E/U +13 pips Long 1.3998
Attached Image (click to enlarge)
Click to Enlarge Name: 1 min trade good breakout.PNG Size: 15 KB
  • #719
  • Dec 22, 2008 12:03am Dec 22, 2008 12:03am
01:01 Short +5
Attached Image (click to enlarge)
Click to Enlarge Name: Quick EU Short.PNG Size: 17 KB
  • #720
  • Dec 22, 2008 1:19am Dec 22, 2008 1:19am
Frank opened and went to 1.4017 and tapped twice

1.3994 is the low I am watching here now

No direction given just yet, but it will develop
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