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LeonLorenzo Breaks the rules.

  • #21
  • Dec 22, 2008 10:45pm Dec 22, 2008 10:45pm
Early morning trading, Trading the Euro/CHF to the short side at the moment. Looks like it is being held up for now, would be good to catch a big drop today though.

Im short from 1.5285.

Leon
Living the adventure in my head.
  • #22
  • Dec 22, 2008 10:47pm Dec 22, 2008 10:47pm
Quoting monarch
And a very good profitable trade my friend.

Keep up the great work.

Get some rest, chat with you tomorrow evening.

Ken
Cheers Monarch, where abouts in the world are you? Im in the Uk, 4:46am here.

Leon
Living the adventure in my head.
  • #23
  • Dec 22, 2008 11:12pm Dec 22, 2008 11:12pm
Quoting Leonlorenzo
Cheers Monarch, where abouts in the world are you? Im in the Uk, 4:46am here.

Leon
I am in California USA, Pacific time, so around 9:12 pm now.

Lets rock this EU.
  • #24
  • Dec 23, 2008 3:19am Dec 23, 2008 3:19am
Quoting monarch
I am in California USA, Pacific time, so around 9:12 pm now.

Lets rock this EU.
Im rocking E/chf At the moment, its PA has taken my fancy

Closed out one trade for $31 profit just before a pullback and now have entered again. I will post the shot of the trade after I close out the next one or two.

Ive been reading through Jacko's thread while the market was bouncing along, I seem to be trading thesame way really, although the Anti-hedge is unusable on these shorter Tf's. Wow that guy is making some crazy money.

Hopefully I will hit 20% increase on demo balance today, only $43 demo dollars to go.

Does anyone think I should scale back my lots? I wouldnt expect for one minute to be able to make 20% in 4 trading days when trading live. It kind of seems like im waiting to go bust, mmmh.

Leon
Living the adventure in my head.
  • #25
  • Dec 23, 2008 5:46am Dec 23, 2008 5:46am
Price looked pretty nackerd to be honest so I exited with another $30, plus the fact that I want to make and Eat my beans&cheese on toast in peace.

Below are the trades.

Leon
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Living the adventure in my head.
  • #26
  • Dec 23, 2008 6:11am Dec 23, 2008 6:11am
Id actually like to be able to pick up a Short possition GU 1.4836 area.
Living the adventure in my head.
  • #27
  • Dec 23, 2008 10:05am Dec 23, 2008 10:05am
I was a little impatient and got in 15pips before the price I stated in the above post, but I cant complain about the end result. The trade is below.

Leon
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Living the adventure in my head.
  • #28
  • Dec 23, 2008 10:06am Dec 23, 2008 10:06am
I hit the 20% mark
Living the adventure in my head.
  • #29
  • Dec 23, 2008 10:43am Dec 23, 2008 10:43am
Just a little thought for the day....

I see alot of people(me included for 99.9% of my trading life so far) that trade set-ups. Maby this is not what we should be concentrating on, maby we should be looking at the market agenda for the day or agenda when above/bellow a certain level.

Leon
Living the adventure in my head.
  • #30
  • Dec 23, 2008 3:36pm Dec 23, 2008 3:36pm
Quoting Leonlorenzo
Just a little thought for the day....

I see alot of people(me included for 99.9% of my trading life so far) that trade set-ups. Maby this is not what we should be concentrating on, maby we should be looking at the market agenda for the day or agenda when above/bellow a certain level.

Leon
Something of importance is "Factors" that form into set-ups.

I am concentrating on the perimeters personally, if I see the sup/res type areas respected, then I realize that there is no real agenda to push price into what I call ranges.

Probably the most important part of my strategy is deciding on time frames, you can see range in every time frame, and there are minor and major sup/res areas that are important to the money movers.

Once you can see the "what I call reaction" at these levels, then it is all about timing, watch it close enough, the setups will produce pips.

If the market movers want to break a res/sup, then I will join them, but I must first see that there is a break point set, that is where I begin to monitor and mark each area of importance down to the smallest of ranges taking advantage of the move during it's origination time.

Also, one must expect a break of sup/res as a possible stop move, so that is the real purpose of my quick 10 pips on trades, I do not want to be caught in price war. lol

Let's discuss more of this the coming weeks.

Cheers, rest good.

Ken

Note: I added a chart on my thread to illustrate some sup/res ideas.
  • #31
  • Dec 23, 2008 7:26pm Dec 23, 2008 7:26pm
I got my other laptop running again, but I will carry on trading the new account. Below is a screen-shot of the previous account to prove it was still in one peice, lol.

Leon
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Living the adventure in my head.
  • #32
  • Dec 23, 2008 11:47pm Dec 23, 2008 11:47pm
Quoting monarch
Something of importance is "Factors" that form into set-ups.

I am concentrating on the perimeters personally, if I see the sup/res type areas respected, then I realize that there is no real agenda to push price into what I call ranges.

Probably the most important part of my strategy is deciding on time frames, you can see range in every time frame, and there are minor and major sup/res areas that are important to the money movers.

Once you can see the "what I call reaction" at these levels, then it is all about timing, watch it close enough,...
You could call it the trading terrain/environment I suppose. A 'setup' needs to be in the right environment to work out. I have to admit though, I am paying alot less attention to the setup than environment at the moment.

But thinking about it, environment is really just a setup from a higher timeframe. When ive been entering trades(for the span of this journal) Ive been looking for 3 strong areas of sup/res to the back of my trade. I see it like a reversed accumulator bet, the chance of one level holding may be 50%, but the chance of one of the 3 holding the price for a bounce or a continuation is much higher.

Obviously there are many ways people can trade the markets, up to each person to find what they can make work. Your trades are very clean, I like them.

How long have you been trading?

Leon
Living the adventure in my head.
  • #33
  • Dec 25, 2008 11:01pm Dec 25, 2008 11:01pm
Nice to see that Johnedoe has started a 'calls journal' in this section, since I cant post there Ill say a little here......

Hes one of the guys who documents his trades, makes profits most months, yet doesnt run around acting like hes god. I am going to keep checking in there, I recomend anyone else who is feeling down, or questioning the possibility of profititing in the FX market does aswell.

There's two guys in this forum who have ever gone out of their way to help me out, Johnedoe is one of them.
Living the adventure in my head.
  • #34
  • Dec 25, 2008 11:08pm Dec 25, 2008 11:08pm
Cant wait till the New-year.
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Living the adventure in my head.
  • #35
  • Dec 25, 2008 11:39pm Dec 25, 2008 11:39pm
Hey Leon.
Keep up the good work and have a prosperous new year.
Same Whore .... Different Dress
  • #36
  • Dec 26, 2008 1:23am Dec 26, 2008 1:23am
Quoting johnedoe
Hey Leon.
Keep up the good work and have a prosperous new year.
Cheers and thesame to you!
Living the adventure in my head.
  • #37
  • Dec 26, 2008 1:39am Dec 26, 2008 1:39am
Ive been thinking about my next steps if things continue to go well.....

I have decided once/if I double this demo account I will be ready to go live with a small amount of money. £100 will be my original deposit, once I double that account, I will add a further £200 and continue to trade.

I cant see it being possible as I am now to find anything over £200 to add to the account in a month, once/if I have doubled a live account once and added £200 I will just continue to compound.

I was thinking about a maximum drawdown figure aswell, At this point I have very little info to go on, and Im sure that I still have to see any real drawdowns. At this point im going to say it will be at a 30% drawdown I will stop trading and re-evaluate.

Well, these my thoughts so far on that matter.
Living the adventure in my head.
  • #38
  • Dec 26, 2008 7:35am Dec 26, 2008 7:35am
Looking for shorts on GU, but Ive got work now and market is pretty dead. Ill have to see how it looks when I get back. Alot of great Resistance above though.
Living the adventure in my head.
  • #39
  • Dec 26, 2008 3:17pm Dec 26, 2008 3:17pm
Quoting Leonlorenzo
Looking for shorts on GU, but Ive got work now and market is pretty dead. Ill have to see how it looks when I get back. Alot of great Resistance above though.
thanks for a tip.. it was useful...
  • #40
  • Dec 26, 2008 3:28pm Dec 26, 2008 3:28pm
Quoting ph1102
thanks for a tip.. it was useful...
Yea, Would have been a nice few pips on the account If I didnt have to go to work. Im sick of stacking the tins of beans, anything else is Ok, but I hate stacking the Tins..

EDIT: Just for the Craic, Ill take a stab at it going down to 1.4522 without any sizeable retrace(price currently 1.4607).

Well, Ill have to wait till next week to make any trades, have a good weekend everyone.
Living the adventure in my head.
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