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Obeewon on the Pound

  • #121
  • Apr 8, 2007 8:13pm Apr 8, 2007 8:13pm
Quoting barak
good luck on new pair.
thanks barak... like what u are doing in your journal also..
  • #122
  • Apr 8, 2007 8:20pm Apr 8, 2007 8:20pm
Quoting kharvell
Hey obeewon,

It's a very respectable thing you've done posting your losses as you have. I know how hard it is(being a journal owner myself) to be honest to yourself and others, but I promise you that in the end, you will benefit from your integrity.

Best of luck in the rest of the month,

Kevin
thanks kharvell.. i agree totally... u have to take the good with the bad.. lets just hope that there is more good than bad lol... i am confident tho that it all works itself out... i learn much more from my losses than i do from my wins

i appreciate your comment thanks again
  • #123
  • Apr 10, 2007 4:36am Apr 10, 2007 4:36am
[/code]
Quoting obeewon
APR totals: -465 pips (wow)

alot of my losses were brought in from the end of march so taht is never a good way to start the month.... anyway with the NFP out the way lets see how this week will unfold...

new trade s @ 9647 s/l not determined t/p 9526 ( lets try these shorts again lol)

look for price to move up to 9674-9700 area before a move down to 9606-9616 were price might stall and either move back up or continue to fall..let see what happens.. see ya around 5 am est
ok looks like things are playing out like i thought they would just a little backwards.. we moved down first nad then we started to move up.. i dont know were this strength is coming from as of now GU is around 9714 and this is making me a little nervous..( being honest lol) i see macd diver building to the downside in the 15 min chart lets see if that plays out.. i am tempted to short again here... i will wait but this may not play like i expect it to and may have to close this trade out to contain further losses...
  • #124
  • Apr 10, 2007 5:00am Apr 10, 2007 5:00am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
Quote
ok looks like things are playing out like i thought they would just a little backwards.. we moved down first nad then we started to move up.. i dont know were this strength is coming from as of now GU is around 9714 and this is making me a little nervous..( being honest lol) i see macd diver building to the downside in the 15 min chart lets see if that plays out.. i am tempted to short again here... i will wait but this may not play like i expect it to and may have to close this trade out to contain further losses...

HI!
I think you are absolutely right.It will go down but not jet (my opinion) I think we will reach 1,9770.On 30 min chart U will see a brakeout of a channel and then brake of a smaller flag formation...Do U agree?

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Plan your trade and trade your plan
  • #125
  • Apr 10, 2007 5:05am Apr 10, 2007 5:05am
i decided to short again @ 9717... s/l none t/p none yet.. hope this decision does not burn me to bad,, im already deep in the hole lol
  • #126
  • Apr 10, 2007 5:17am Apr 10, 2007 5:17am
Quoting dado26
HI!
I think you are absolutely right.It will go down but not jet (my opinion) I think we will reach 1,9770.On 30 min chart U will see a brakeout of a channel and then brake of a smaller flag formation...Do U agree?

------------------------
Plan your trade and trade your plan

u might be right.. i think i have the channel that u are looking at.. i drew it on the 30 min but took a pic of the 1h white lines are your channel... red horizontal line is resis area 9720... do u remenber this area??? but i do see what u are seeing... time will tell..

thanks for your comment and observation
Attached Image
  • #127
  • Apr 10, 2007 5:23am Apr 10, 2007 5:23am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
I think just a few traders would speak so open about trades they took.I think you are on the right way!! Entering a trade becouse you follow your system and plan and then not being affraid to make a mistake....Thats all it matters in FX.....

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Plan your trade and trade your plan
  • #128
  • Apr 10, 2007 5:28am Apr 10, 2007 5:28am
close second short @ 9713 + 4 pips ( basically break even ) still have 1 short @ 9647
  • #129
  • Apr 10, 2007 6:06pm Apr 10, 2007 6:06pm
Quoting dado26
I think just a few traders would speak so open about trades they took.I think you are on the right way!! Entering a trade becouse you follow your system and plan and then not being affraid to make a mistake....Thats all it matters in FX.....

----------------------
Plan your trade and trade your plan
thanks... please feel free to post your thoughts/observations anytime..
  • #130
  • Apr 10, 2007 6:24pm Apr 10, 2007 6:24pm
Quoting obeewon
close second short @ 9713 + 4 pips ( basically break even ) still have 1 short @ 9647
the reason that i closed this trade was b/c i got nervous that i was not seeing something.... one of the reasons for being nervous was my bad start to this month and not wanting to lose any more pips then i have already lost... so i closed the trade( out of fear).. imo this is a mistake on my behalf and that this is no way to trade. we all know the mantra of discipline and to trade with no emotion; but sometimes emotions creep into your mind and boooom indecision; that is how compounded mistakes are made; mistakes that are made more than once.. and thats a no no.. one of my personal rules is to let the trade prove u wrong.. as traders we must allow ourselves to make mistakes and be ok with it ( know your risk and accept a loss if need be)..if anything a lesson can always be taken from every situation which brings u closer to becoming a better trader..

p.s. this is for future reference if i look back and wonder why i closed this trade
  • #131
  • Apr 13, 2007 2:30am Apr 13, 2007 2:30am
i have had some trouble posting on here the last couple of days... would not take my log in.. this has been a dissapointing month for me and i have since close all my short positions... s @9647 close @ 9731 -84 pips; also the GJ posiotn i closed for -60 pips.. i have seen this before (last nov) when the market is overbouught but continues to rise higher... imo what is happening is that the rumor of a cut in interest rates in the US ( same thing happened end of oct to the end of 2006) i think is fueling the move to 2.000., imo the best strategy to use is to buy on the break of new high.. in an earlier post with a chart (red lines and blue lines post 113) i talked about and ascending triangle which turn out to be correct.. hindsight is 20/20... i just dont use trend lines to trigger trades, i use them for overall prospective.. anyway i know this may sounds crazy but i will be dollar bearish until the next decision on interest rates comes b/c as of right now the dollar is taking a beating

recap losses -144 pips ( a kick in the nuts ) excuse my language
  • #132
  • Apr 16, 2007 1:00am Apr 16, 2007 1:00am
new trades taken when market opened

b @ 9875 s/l not determined t/p none yet

b @ 236.40 s/l not determined t/p non yet
  • #133
  • Apr 18, 2007 1:34am Apr 18, 2007 1:34am
both buy trades still active.. gu is up +220 as of now and GJ is up +231...

i will manage each position daily... i do not plan to close these positions until right before US interest rate decision.. i know that sounds crazy but thats what i feel right now... however if i see that the positions start to move against me than i will clse.. be back at 5am
  • #134
  • Apr 18, 2007 10:37pm Apr 18, 2007 10:37pm
close GJ trade @238.10 for +170 pips

closed GU trade @ 2.0050 for + 175 pips

so much for tring to keep these trades until US intrerest rate meeting lol...

looking for another opp to buy...
  • #135
  • Apr 19, 2007 7:23am Apr 19, 2007 7:23am
sell limit @9990 for GU waiting for price to come to me...
  • #136
  • Apr 20, 2007 8:08am Apr 20, 2007 8:08am
ok
i cancelled the limit sell order @9990 and; close the GU sell 2.0040 @2.0022
for +18 pips.. i will be looking for another oppurtunity to buy.. i still feel like the dollor is going to take another beating so imo look for oppurtunities to buy and manage accordingly.. i am looking to buy( may set buy limit on break of new high) around 2.0080-95 area..

good luck

recap close 2.0040 @2.0022 + 18 pips
  • #137
  • Apr 20, 2007 11:40am Apr 20, 2007 11:40am
"The only man who makes no mistakes is the man who never does anything." I would add to the above "And that's the biggest mistake of all." Sir, have a great weekend and success trading.
Do not focus on making money; focus on protecting what you have.
  • #138
  • Apr 20, 2007 11:48am Apr 20, 2007 11:48am
Quoting Why Oh Why
"The only man who makes no mistakes is the man who never does anything." I would add to the above "And that's the biggest mistake of all." Sir, have a great weekend and success trading.
thanks why oh why.. i appreciate your comment and please feel free to post here again..
  • #139
  • Apr 22, 2007 6:30pm Apr 22, 2007 6:30pm
buy limit @ 2.0071.. s/l none t/p not determined

GU may fall back some; i can even see it falling as far as 9920... but as a posted ealier i and negative on the dollar until interest rate issues are resolved.. if price fall to 9920 area or higher i will look to buy.. will evaluate around 5am est
  • #140
  • Apr 23, 2007 3:48am Apr 23, 2007 3:48am
sell @ 2.000 s/l none t/p 9935..
short term sell trade... will look to buy @ 9930-9965 area
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