Monarch's Journal of 2008 Trades

3 trades (3 win - 0 loss)
+23 pips (2 short of daily goal)

Weekly total
Sunday
+78 (6 wins - 0 losses)

Monday
+47 (6 wins - 1 loss)

Tuesday
+23 pips (3 wins - 0 losses)

Week so far +148
Daily Goal 25 (already met my weekly goal)

Watching price hit a top twice, I took short at 3:13 pm EST.

+10 pips.

1 trade +10 pips

Weekly total
Sunday
+78 (6 wins - 0 losses)

Monday
+47 (6 wins - 1 loss)

Tuesday
+23 pips (3 wins - 0 losses)

Wednesday
+10 (1 win - 0 loss)

Week so far +158
Daily Goal 25 (already met my weekly goal)

I will begin a journey to 25 pips a day.

This will be very simple trading, no messy charts, no indicators.

If your wanting to just make a daily goal, and have contiual success, please join me on this quest to simplicity.

You can read Page 1 of my thread.

Even though I have showed many styles of trading on my thread, I will be trading E/U with a few simple trade styles with entry and exit, targets and stops.

Have a Merry Christmas,

I will see you Jan 5th 2009.

Ken

With the holiday traders there is no telling which way the market could go this coming week, one thing is for sure, I will be very careful not to trade in a quiet market.

Here is my 4 hour chart with projections based on recent areas of support and resistance.

The 1.4000 held strong support 5 days or so, price then went back to test that top around 1.4118, giving us a double top, and a very small range of movement.

If we get a break above that double top, longs will be in to the upper range of 1.4292 area, but we could see a test at 1.3824 giving a double bottom formation.

One thing is for sure, price has been very hesitant in either direction, giving us lots of room to scalp the smaller time frames.

I have also included the Daily and Weekly chart to review possible areas of importance.

Cheers.

Ken

Update.

The Double Top Line at 1.4118 was breached upon open of today's market.

It has come short of 20 pips from my target zone at 1.4292.

This area could still come into play during the London session.

Cheers.

I'll be joining in this thread and making my own as well over the next week or two.

I've found a $25 account from FXCM, so thought it would be more realistic to work with real cash rather than demo accounts, even if it is small amounts

Feel free to add your charts here and give us an update as you make those trades.

Good luck to you, let's double that 25.00 account quick.

Will be in and out most of the week, next week I will be around during the late Asia and Frankfurt hours.

Cheers.

Ken

The London moved price up nicely before going into a tailspin during late London and NY session.

No surprises here, back to the same support area we had last week, this time we may be seeing the break to go down to set a double bottom as seen on the chart.

Let's see how much bounce it has first, before the drive to 1.3824 area.

1 min chart
8:38 pm (EST) Monday

Was a quick +20 pips

Hi Ken,

Wishing you all of Gods "Blessings" for 2009.

All the best

W

Thanks a bunch.

I hope the family is well and may God Bless you all in the coming year.

Give me a skype next week if your online, I will be doing some London trades starting next week.

Cheers

ken

1:50 pm (EST) Wednesday
Short EU on a breakdown of 1/5/15 min formations.

Here is the chart showing the setup and entry.

+20 with ease.

No more trades today, holiday markets will close later.

Cheers, Ken

Happy New Year Ken to you & yours

I will get around to sending you a PM - honest lol

Steve

Happy New Years to you and your family.

I hope this year finds you much wealth.

Will be looking forward to your pm.

Cheers.

Ken

Happy New Year!

Looking forward to an awesome year.

I will be giving an update prior to London open on Sunday.

Easy Pips everyday, come join the fun.

Cheers.

Ken

Happy New Year.

You need to make a 2009 thread

Probably a good idea, let me work on it over the weekend.

Happy New Years.

Ken

This will probably be the last chart I post in this thread, but couldn't resist the great setup.

You can see the 1/5/15 min charts all coming together for a great break out south.

Entry 8:33 pm (EST)
Exit 8:45 pm (EST)

+12 pips

Price has moved even deeper then my original target since exit.

Enjoy the New Year.

Cheers,

Ken

Nice work!