Beer Fund

cheers mate! i will check them out. heres the ones i have...
i dont think i need to post the other .exe files also???will do if you need them.
cheers
jon
hey great journal! i will be keeping my eye on this from now on

thanks Jon

hey!! nice one... you ve put sound on my charts!!! for some reason my alerts wouldnt play any sound? they used to?? but your TL h/l indicator does. cheers
jon

fiber approach a heavy confluence area and stalled
TL /1.33 and fib conf.

after the fomc price dropped quickly below 1.33 and i got a mkt entry.

it has now formed a beob on the 1hr and i have another entry based on this.

stopped out on both - i was uneasy about the trade but decided to trust all the confluence, and when i saw price start to fall i thought this was the start back down.

breakout past tl - retrace and 4hr pin to test which lined up with 50fib and 150ema


stopped out - but not a bad setup i don't think so can't be unhappy about this one?

lately i have let my view of fundamentals cloud my judgement on setups.
there were a number of daily pins on jpy pairs which i did not take as i had a belief that these will all fall. The eurjpy pin which i ignored went for 300pips.

Will have to go back to trusting the setups more. funnymentals don't work so well when the world is upside down

another crack at a short - well why not 4th time lucky.

formed pin off 1.34 which just above strong confluence area - thinking this may have been broken by stop hunting anyway.
waited for the break of the pin to get established and break previous bar lows. But missed my entry due to pc issue. So got in later then hoped so reduced size. added to it on the retrace for better entry.
Obama speaks in about 30mins now and hopefuly will have some good news on salvaging the carmakers - which in turn might bring some more usd strength.

There are a lot of commentators suggesting we might see parity - most of these seem to be from the US though. My overall outlook is down , but i think parity might be a stretch

took 1 hr pin as usd seemed to be gaining strength

not a good trade at all - took half off for small loss to reduce risk
there is a daily pin formed but most of europe are on hols and uk on hols on monday.

update - closed trade for 6pips profit - decided i had no right to be in this no matter where it was going - turns out that was the right decision as i would have been stopped out.

discipline is killing me. i keep telling myself i will only take perfect setups and 5mins later i am in another stupid trade. I just don't get it, i have even gota check sheet in front of me which i consistently ignore. I have the discipline to spend 12-14hrs a day reading forums and learning and doing testing, yet am still trigger happy - even though i know and have proved to myself that i am profitable if i stick to my rules. Pretty much the same rules everyone else sticks to and proves it works too. So it seems i don't lack discipline entirely - just in the most important area.
SO i will give myself another talking to today (not great being a fri before long w/e) and no doubt i will stay out of stupid trades for a while - how long that lasts who knows - this has been going on for 4months now. The irritating thing is that had i just stuck to my plan i would be so far ahead instead of still at BE.

been a slow trading day today, mainly due the upcoming hols for may and the fact that i have had a bad week and need to reign myself in once more. There were a lot of pips out there this week. EJ for example went on a 400pip+ move from a pin bar that i decided not to take as i was influenced by fundamentals. That in part and the fact that having taken some bad trades it made me trigger shy on the good ones - a common fault of many, but one i thought i had overcome.

I think part of the problem has been managing my expectations. Not the long term expectations of trading, but more the expectations of the trades themselves. I started off this learning curve in a period of very high volatility from Aug08, where getting 300-500 pips off a pin bar was very easy. The setups themselves were more plentiful and even c grade setups gave good rewards. Now though the shape of the market has changed again, and therefore I need to become more patient and more picky.

This will be the goal for next week. I would like to say that i will limit myself to just taking dailies and weeklies for a month, but i think i might be pushing my luck there. So i will try with something smaller instead which will be more achievable for me. I will try to halve the number of trades i took this week.
I took 18 this week and 16 the week before. SO next week it is 9 trades tops.

lots of data out this week
US bank stress tests, ECB rate decision,AUD rate decision NFP to name but a few.

so being limited to 9 trades - going to have to be picky

gbpusd - break of 1.5 major ppz and pullback to test - went long when broke bullish bar on 4hr after the test. @1.505

eurusd - retest of TL - waited for break above 1.33

gbpjpy and eurjpy - was very tempted to go long on these too after their small retraces, but got to limit myself.

update - closed the eurusd for +14- it had been ranging and not doing what i expected and with ECB decision out thurs it didn't seem worth it - it had been ranging past my BER point so i thought it might continue to do this overnight, so even setting to BE would not have been an option - as it proved.
gbpusd - +100 so far and at BE

set stop to BE +10 and stopped out after BOE announce another £50bn of quantative measures. was up 130 - maybe should have taken profit before the announcement, but stil expecting it to go past 1.53 - should have planned for a spike though.

pin bar retest of TL / triangle - price building another advance on 150.
entered at 149.70

moved stop to BE +10 before the rate announcement and was stopped out.
again was up 120pips - should have taken some profit.

how on earth am i going to stop these?
after being stopped out fro +10 in gbpjpy - went long again at around the same level - as wanted to get my pips back
guess what - stopped out for -100

have been very good at keeping my trades to a minimum this week, and in light of NFO tomorrow - unless there is an exception trade to play then i won't be doing any more trading this week.

so instesad of being +250 i am down 100.

I am going in the right direction from a learning point of view - i just wish my account would reflect that. Being right means squat if your not profitable.


I think as my account took a battering last week i was looking for the home run with the breakout trades to put me back in the game. I should have taken the profits that were offered and moved on - then i wouldn't have taken the revenge trade. Wish i could say this was the first time - i should know better by now - i do know better, but in the heat of the moment that all gets forgotten.
will aim to get some small winners in the account - just bank what i can for the next few trades and continue to chip away.

daily buob - set take profit for the 1.68 area where the 365ema on 4hr added confluence. decided to set profit target to get money in account rather than manage the trade daily. +86pips

audusd buob - not at swing low but it was confirming the break past the 0.75.
closes trade before it reached the upper tl of the channel to get money in account before w/e +57pips

eurgbp buob daily - had 150ema and rnd no ppz as support

tp planned for 0.9

eurjpy - 4hr - IB then buob suggested that it wanted to break 133 again.
looking to hold this one upto 137

euraud - this is actually a risky entry, but based on the fact that i think this was initially off a good level and will retrace quite far.

initial 4hr buob off 1.75 - strong support area. - then formed a pin on daily which has not broken yet, but formed anothe buob on 4hr.

decided to enter on retrace to 61fib of that buob once price had broken past the 50fib.
so small stop on this one behind the 78fib

price going a bit sideways at the mo and it might be too late in the day for this to do anything.

so although this week wasn't the greatest i did manage to stick to my 9 trades.
actually took 11 but two fwd testing a new method i am working on so they don't really count.

despite being nfp - i did manage to get some winning trades today, which rounded the week off in the positive.

2 trades that were against the recent trend so not looking to hold these.

audusd - 2 beobs on the 4hr off the 77 rnd number and top of channel. +30pips

euraud - daily pin looking bar (not perfect) then an inside bar. so took the break of 4hr buob which also corresponded with the daily IB. initially think ing this wil go to 1.8 but didn't want to sit in the retrae so out with 80pips after the hangin man formed.

nzdjpy - beob - targeted the 61fib out for 60pips.