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Attachments: GBP/JPY London Open trades
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GBP/JPY London Open trades

  • #181
  • Mar 23, 2009 8:06am Mar 23, 2009 8:06am
50+ London trade time 3 hours 45 min (took longer because of 140.00 level)
long entry 140.28 exit 140.78
Discipline will take you where luck can't.
  • #182
  • Mar 26, 2009 3:07pm Mar 26, 2009 3:07pm
I placed a trade earlier this morning 700 GMT. This trade missed my TP by 2 pips. Hmmm imagine that. I closed this trade out near b/e.
Discipline will take you where luck can't.
  • #183
  • Mar 26, 2009 4:50pm Mar 26, 2009 4:50pm
I know what you mean, in my case I missed my TP by 3 pips, but I closed it at +38.

I have a question....do you try to figure out which way the price is going or do you just trade what you see in your charts? What I mean is, right before London opens, price usually consolidates before breaking either up or down. Do you give any thought as to where it might go or do you just trade in whichever direction the break takes place?

For example, some people think sort of like this....if price breaks 141.70, then we go up to 143.00 and if that breaks we go up to 145.00. Do you try to forecast how much price could move in one particular directon before trading or just trade the break in either directon?
On a journey to consistency.
  • #184
  • Mar 26, 2009 6:09pm Mar 26, 2009 6:09pm
Quoting Tataocb
I know what you mean, in my case I missed my TP by 3 pips, but I closed it at +38.

I have a question....do you try to figure out which way the price is going or do you just trade what you see in your charts? What I mean is, right before London opens, price usually consolidates before breaking either up or down. Do you give any thought as to where it might go or do you just trade in whichever direction the break takes place?

For example, some people think sort of like this....if price breaks 141.70, then we go up to 143.00 and if that breaks...

I trade the break in either direction because my TP is only 50 pips. If I were going to buy/sell then hold I would definitely consider market direction.
Discipline will take you where luck can't.
  • #185
  • Mar 26, 2009 6:58pm Mar 26, 2009 6:58pm
I don't know when this will break out but it's in a tight triangle now. I won't enter short until it's at least fallen to 141.96 or lower. I won't go long until it's 143.60 or higher. If it breaks out with slow momentum then I will skip the trade.
Discipline will take you where luck can't.
  • #186
  • Mar 27, 2009 2:39am Mar 27, 2009 2:39am
50+ Tokyo trade time 1 hour 5 min.
short entry 141.90 exit 141.40

I would have initially exited this trade in 20 min. but I held it for a little over an hour to see if the price action would give me 100 pips because of the triangle breakout. I did not like the price action after 700 GMT came so I exited the trade.
Discipline will take you where luck can't.
  • #187
  • Mar 27, 2009 2:57am Mar 27, 2009 2:57am
Here's what my chart looks like now.

http://i41.tinypic.com/2pq7rww.jpg
Discipline will take you where luck can't.
  • #188
  • Mar 27, 2009 10:41am Mar 27, 2009 10:41am
I took the same S/R line you had listed and got out after the +58 pip (included spread).
This would have been a good one to follow all the way to the Fib Extentions.
http://i40.tinypic.com/692xzt.gif
  • #189
  • Mar 27, 2009 7:08pm Mar 27, 2009 7:08pm
Quoting jimbo61
I took the same S/R line you had listed and got out after the +58 pip (included spread).
This would have been a good one to follow all the way to the Fib Extentions.
http://i40.tinypic.com/692xzt.gif
True. I would have got back in once the momentum resumed and my line was broken on the 4 hour chart but then there was a news release around that time.
Discipline will take you where luck can't.
  • #190
  • Mar 29, 2009 11:25pm Mar 29, 2009 11:25pm
50+ Tokyo trade time 32 min
short entry 138.95 exit 138.42

I've noticed that there has been some good movement in the Tokyo session for a few weeks now. I will trade Tokyo whenever I see profitable opportunities at least for now.
Discipline will take you where luck can't.
  • #191
  • Mar 29, 2009 11:27pm Mar 29, 2009 11:27pm
Hey, how's it going...guess what just happened to me....it's unbelievable....I setup a trade, short at 138.80, when I was at +40 just 4 min after opening the trade I minimized the chart to look at my equity and....big surprise.....I was trading the DEMO ACCOUNT!!!!!!!!!!!!!!!!! I forgot to switch to the real account!!!!!!!!!!!!!

So I got 50 FAKE MONEY pips in 10 minutes. That's just peachy!

I don't know whether to laugh or smack myself!

Edit: I'm laughing now, I was chatting with a girl and simply forgot to switch back....50 pips in 10 min would've been a nice way to start off the week.
On a journey to consistency.
  • #192
  • Mar 29, 2009 11:35pm Mar 29, 2009 11:35pm
Quoting Tataocb
Hey, how's it going...guess what just happened to me....it's unbelievable....I setup a trade, short at 138.80, when I was at +40 just 4 min after opening the trade I minimized the chart to look at my equity and....big surprise.....I was trading the DEMO ACCOUNT!!!!!!!!!!!!!!!!! I forgot to switch to the real account!!!!!!!!!!!!!

So I got 50 FAKE MONEY pips in 10 minutes. That's just peachy!

I don't know wether to laugh or smack myself!
Hahaha....you remind me so much of myself when I first began trading. I've done something similar to that. Good thing is it's retracing so maybe you will have another trade opportunity once London opens or gets close to opening.
Discipline will take you where luck can't.
  • #193
  • Mar 31, 2009 6:44am Mar 31, 2009 6:44am
Here's what my chart looks like now. I won't trade until at least one candle closes on either side of the trend lines and breaks my line marked for entry.
http://i39.tinypic.com/2vlwbwm.jpg
Discipline will take you where luck can't.
  • #194
  • Apr 1, 2009 5:51pm Apr 1, 2009 5:51pm
Just looking at the G/J I would have lost 100 pips earlier today if I would have went long on the break of 142.86. Looking at this further, the high of 142.86 was established by a Tokyo news release (Tankan Manu. Index) at 12:50am GMT, a highly volatile release. I took the day off from trading today. This just shows me a flaw in my trading system. Usually I don't mark highs and lows from news momentum but I don't always check to make sure. I need to double check to make sure that the entries are marked from regular price action. I have 142.89 marked as a long entry but I think I will just watch it instead of trading it since the price is already within 20 pips of entry and it's not the best time to trade.
Discipline will take you where luck can't.
  • #195
  • Apr 2, 2009 4:39am Apr 2, 2009 4:39am
50+ London trade time 6 min.
4 hour chart test
long entry 145.10 exit 145.60
Discipline will take you where luck can't.
  • #196
  • Jun 15, 2009 2:06pm Jun 15, 2009 2:06pm
I'm still around and am still trading the exact same system though I have been trading less hours. Somewhere from 1am CST to 6am CST is when I place 90% of my trades. Sorry for not posting. Life's pace has picked up 110%. I'm back in the gym a couple of hours everyday and working on relocating. I've traded posting on FF for sleep. April and May were both slow months for me. I probably averaged 1 trade per week for both months. June has been going really well. This month I'm also switching brokers. I just can't take it anymore. I'd like to hear from everyone that was diligently reading my small thread. Tell me how you are doing and how your trading progress is going. Maybe once my schedule resumes some normalcy I'll start back posting on a regular basis.
Discipline will take you where luck can't.
  • #197
  • Jun 15, 2009 5:18pm Jun 15, 2009 5:18pm
Hi - good to see you back - my first post on FF. I followed your system and still use it most days. Attached is my trade from yesterday. Pretty straight forward....coming into Europe open price was pushing on the Tokyo low from earlier in the day...trend is down....it broke 160.82 and I waited for a small retrace to get in at better price....I also noticed the GU fall heavily earlier. Took the short down below Friday's low and then set Stop at high of each previous candle.
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  • #198
  • Jun 18, 2009 8:43pm Jun 18, 2009 8:43pm
Quoting Taylor
Hi - good to see you back - my first post on FF. I followed your system and still use it most days. Attached is my trade from yesterday. Pretty straight forward....coming into Europe open price was pushing on the Tokyo low from earlier in the day...trend is down....it broke 160.82 and I waited for a small retrace to get in at better price....I also noticed the GU fall heavily earlier. Took the short down below Friday's low and then set Stop at high of each previous candle.
It's nice to hear from you Taylor. It sounds like you have your system down. I'm glad to see the volatility come back.
Discipline will take you where luck can't.
  • #199
  • Jun 19, 2009 9:34am Jun 19, 2009 9:34am
Wow, Ciara is back! About a week ago I was thinking about how I hadn't seen you post in quite a while and thought...well, now that she's a multi-millionaire she doesn't care about us small ones anymore....just kidding. Im still struggling to reach consistency, I'm currently ranging between a -5% to a 5% return on my account. I'm also trying to adjust my trading method to something that suits me. Right now, I'm trying to catch tops and bottoms based on support/resistance lines. Haven't had the need for any slaps in the face lately, I had been so busy with other things that I set trading aside for about 3 months, but I'm starting to trade once again. I'll let you know how it goes and it's nice to see you're back.
On a journey to consistency.
  • #200
  • Jun 21, 2009 6:34pm Jun 21, 2009 6:34pm
Quoting Tataocb
Wow, Ciara is back! About a week ago I was thinking about how I hadn't seen you post in quite a while and thought...well, now that she's a multi-millionaire she doesn't care about us small ones anymore....just kidding. Im still struggling to reach consistency, I'm currently ranging between a -5% to a 5% return on my account. I'm also trying to adjust my trading method to something that suits me. Right now, I'm trying to catch tops and bottoms based on support/resistance lines. Haven't had the need for any slaps in the face lately, I had been so...
Multi-millionaire, that's a definite goal Life has been going at a cheetah's pace for me. Sorry for falling off the FF Posting Bandwagon. Now I've gotten lazy but I'll make a point to start back posting once I'm done relocating. I'm glad that you replied. I wondered if you were still trading. So your first system didn't work too well ? Sometimes it takes a while to find what works for you. Then it takes even more time to personalize it. No need for a slap ? Awe man
Discipline will take you where luck can't.
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