steelhead trade journal

There have been a couple of questions about managing a trade so let me address that.


Its really not that hard guys if you are up 40-60 pips on most pairs why would you ever ever ever let it become a losing trade. Set your stop at b/e and let it go. If you get stopped out you can always get back in.

On the ea maybe set stop up 80-100 point being dont let a winning trade become a loser.


If you are up on a trade and its not progressing after several hours that should tell you something.

Hi Steelhead,

Good trade there. I watched E/A throughout the day, and saw it punch through pivots and some support areas. How did you determine that this support area was the one to trade off, and not the others? Was is just price action, and if so, could you show us the candle which prompted you to enter the trade?

Thanks

Sure let me address one thing that was said by bill in the funny thread peanut gallary.

Bill I understand your point about me being critical of others posts. However I feel there is a difference. I back up what I say with charts and analysis of why i think like that.

This guy doesnt back up his claims at all. No charts no analysis of why he thinks im wrong or a fraud. thats why i think there is a difference.

Anyways to the quetion of what candle i took trade off. Solid one hour candle around 1.9050 area i liked price action on lower time frames so i took it. It was due for a retrace

Thanks for that. Ah, that makes sense. I saw a few candles with 'shaven bottoms' throughout the day, the one 2 before you took your trade was like that, but tracing back, there wasn't any supporting price action on the lower timeframes, whereas on the one you took, there was an outside bar - and following that would have kept me out of some bad trades.

Nice one!

Sometimes trades are just feel trades as well you know. It had dropped like a bat out of you know what. It was a risk i was willing to take.

steelhead i'm not being critical about you being critical LOL
i thing you re ok really. but he made me curios

No worries man I was just pointing out the suttle differences in the approach is all.

How have you been havent seen you on yahoo for a time.

Well there are over 200 folks from ff that have added me to yahoo im and i have been helping them. Thats all i do all day is answer im's. So your assumptions are wrong.

By the way while you were belly aching i took a trade on ea up +130 nothing fraudulent about that.

All those people replying to your thread are folks i have helped.

What is your contribution to forex factory?My contribution?

Capital preservation...especially against scam plots


So there is pinch's reason for being here. " capitol preservation...especially against scam plots"

Hilarious. This journal is a record of my trade for my purpose. I dont tell folks to take trades that I am taking its soley for my benefit and for my learning.

If folks get something out of it great but again its a record for me to look back on. Read the original post on this thread.

Instead of feeding folks full of this non sense why dont you with charts and analysis show folks that what i am doing is a fraud and wrong. Back up your baseless claims with some hard evidence. Until you can do that you are not really doing anything but clogging up my personal thread.

Is that too hard to ask?

Stop loss moved up to a bit above b/e on this one now. profit has been taken and we will see what happens with the rest.

Redline is stop
Greenline is buy


Peace out

More importantly, how do you manage your trades when they are going against you.

Thanks

I have my stops in place I dont worry about it. I also set alerts on my charts for if my stop is coming close to being hit. Managing the trade is very important,

This thread will get back to buisness this week.

up 350 pips from buy on ea friday after nfp. Partial profit had been taken stops are at b/e the rest is gravy. Not a bad way to start of the week. I could be done for the week with this trade and the market really hasnt starting going this week.


Yellow lines are areas im going to watch how price reacts. If it hits of those areas for several hours and doesnt progress i will take the trade off.

I see Pinch is still lurking at the bottom of the page.

Let me just clarify something. I dont buy signals from anyone. I took a one on one mentoring class from a good friend of mine over 3 years ago. Learned the system and have traded it ever since.

I dont buy signals i took the time and learned the system for myself now i trade it on my own.

One other thing I put pinchapip on the ignore list so i dont see his posts. I thought that would keep him from posting. Maybe I should place a vouch requirement on it. I guess all i would need is one since no one has vouched for his trading. Over 650 posts a member since 2007 and not one single person has vouched for him interesting. Probably cause he spends most his time railing on others and not really contributing anything of substance to the threads he posts on.


I didnt spend all weekend looking at his posts, cause I just don't care.

I gave him a chance to explain his accusations on this thread before the weekend was over in a private conversation. Instead of doing that he choose to ignore the question and just post more of his garbage with no evidence to back it up.

What doesnt he undertand is this is my journal for my own purposes. he has said his purpose is "capitol preservation" Thats great but at no time have i told people to take the trades that i post on my journal. At no time have i told people you should enter this trade at this time.

His other stated purpose is to root out the scammers. This is also a bunch of garbage. I have held free webinars with my buddy for two weeks now 2-3 times a week. Is that the actions of a scammer? I have over 200 people that have added me to yahoo im where they ask me trading questions all day and i answer them. Is that the actions of a scammer? thats basically what i do all day is answer im's

Again let me point this out. Pinchapip has been on here since 2007 with over 650 posts witch makes him a senior member. Why is it that in all his many posts not one i repeat not one member has seen fit to vouch for his trading? I'm really not a big fan of the vouch system i think its a buddy buddy thing, but you would think that at least one lonely person would have vouched for his trading.

One only needs to look at the posts in my journal to figure out why that is. Maybe just maybe if he would talk trading back up his claims with his own trading style, charts , and method maybe someone would.


Pinch you were given your oppurtunity to come back on this thread and explain yourself. Instead of taking that oppurtunity you filled my thread with more cancerous non sense. You will not be given another chance to spread your ilk.

May I end with a quate from you. "you are done"


Ps I trade for a living, and still like you said have all the time in the world. See i dont sit in front of my comp all week scalping 20-25 pips. Two or three trades a week is all I need. In fact this week i already closed out +350 on Ea. Maybe i will just call it a week and focus my time on my tackle football team. After all i got all the time in the world.

now that my journal has been cleared out of the ah ah ah what should i call them.

Well anyway now that my journal is cleared out we can get back to buisness of taking good trades.


Now is not the time to trade for me. Wont really focus on charts to london tonight or new york in the morning.

Happy trading everyone its time to roll. Went to the pool today swam laps feel much better.

Its nice to have the thread back

New trade on g/u greenline is buy price. Redline above represents tp area. Redline below represents stop loss.

+15 as i write this



later

stops at be right now just the time of day im about +50. So thats what i got.

Good entry there, Steelhead. Were you watching the charts at the time or was that a predefined level you expected price to react at and so set a price alert?

happened to be watching the charts at the time. Again stops are at b/e so its a no stress trade for me. Just let it do its thing. If i get stopped out no big deal.


What up Merino long time

another free webinar tonight for those who want to learn a few things about the market and what setups I look for.


contact me via yahoo im for more details

Steelhead
Re stops i notice u initially use wide ones then move to BE once in small profit. Is this right? Also re Webinair i am in australia so timing a bit out for me. Do you have any notes ,cd etc ? Thanks for all your help.

Gerard