My GBPJPY trade journal

decedent, I think Greg answered your question several times in this thread. This is real account. Even if it wasn't, we are all here to learn something. In the end, if you can constanlty make some pips, money will come along

perez
the reason i asked him is because i see he get around more than 100 days trade with no losing day, that's is 100% winning day, that's really impress me , with me 80 percent is very good 90 percent is awesome 100 percent is fabulous, so that's why i just want to see all his 100 days trading in one balance sheet ,
With all my respect to greg i hope it's not a rude question????

He has had losing days, but just small losses.

Chart and trades summary

i saw it, that's too small to count it's a losing day, and i think he's the best trader in the world with no even lose one day.

Hello Greg,
when you get the chance i was wondering your view on the new no stop and no limit facility being removed from the trading platform and also the inability to close the position from the open position.
Would you stick with FXCM usa or shift your account to the UK?

i can handle the no hedging bit but these other things are bit confusing. Also the FIFO is bit hard to handle too.

Regards

Travis

Hi Travpip;

Would you please post the information from FXCM regarding the changes you write about? I'm not familiar with the changes, so can't comment. Obviously I'm very keen to know more.

Thanks,
Greg

1 hr. chart and analysis

Dear Client:
A major new National Futures Association (NFA) rule goes into effect on August 1, 2009. This rule affects all U.S. regulated Forex Dealer Members. Forex traders will no longer have the ability to place stop-loss or limit orders. Nor will traders be able to modify or close trades from the “Open Positions” window. As these features will be removed, all stop-loss and limit orders held on FXCM LLC accounts at the close of trading on July 31, 2009, will be deleted.
FXCM has always encouraged active risk management through the use of stop-loss and limit orders. Stops and limits are two entry orders that are linked to an individual open position. If a stop or limit order is triggered then the other is canceled. FXCM has introduced a new feature called OCO (One Cancels the Other) entry orders, which will provide traders with the same functionality as stop and limit orders except they are not linked to any position. Watch This Video Presentation To See How To Manage Your Risk Using OCO Entry Orders
For additional information, please visit the “NFA FIFO (First in, First Out) Rules” forum on DailyFX. We will be holding live question and answer sessions within the DailyFX forum. Visit Now
The NFA, our industry’s self regulatory organization in the United States, has adopted Compliance Rule 2-43(b). Read Compliance Rule 2-43 (b). This rule requires orders be executed First In, First Out (FIFO). FIFO requires that when multiple positions are held in the same currency pair, the position which was first opened will be the first to be closed. Stop-loss and limit orders do not comply with FIFO.
The NFA’s stance is that FIFO provides more transparency to customers by offering a more accurate picture of the P/L than viewing the results of individual positions. This brings the forex market more in line with the practices of the futures and equities markets.
While FXCM acknowledges the NFA’s concern and obligation to protect clients, FXCM would like to extend an option to those who would like to continue using stop-loss and limit orders, and who understand the underlying implications. Traders can transfer their accounts to Forex Capital Markets Limited (FXCM UK) and continue to place stop-loss and limit orders and maintain the ability to modify and close orders from the “Open Positions” window.
If you wish to maintain your current platform functionality, you can trade through FXCM UK, which is regulated by the Financial Services Authority in the UK. Learn More
If you wish to transfer your trading account to FXCM UK, please complete the one page form. Account Transfer Form
DEADLINE TO COMPLETE TRANSFER FORM: JULY 8, 2009
Important Notice: If you completed the transfer form, your account will be operational prior to the implementation of the new NFA regulations. You will be notified via e-mail when your account is transferred.
Your account number and password will remain the same and your open positions will remain intact. Moving an account to FXCM UK involves some changes in deposit and withdrawal instructions, and changes in charges for transferring funds. However, FXCM UK clients have the option to send funds to a bank in the United States and fund via credit card. MYFXCM.com will also be available.
Deposits | Withdrawals | MYFXCM.com
Best regards,
FXCM Micro
Financial Square
32 Old Slip, 10th Floor
New York, NY 10005
www.fxcmmicro.com

Thank you for the info, Travpip. I'll have to study it.

Regards,
Greg

Euro/USD session overlap: Interesting charts study

Thanks again for the new NFA ruling info, Travpip. Seems to me the NFA must have an underlying agenda in making this rule despite what they say is the reason, more transparency to customers. Not being able to place a stop loss order, etc., etc., can only hurt traders. Unfathomable. I'm moving to FXCM UK.

Regards,
Greg

Chart and trade summary

Chart and trades summary. (Errors: Pips total was 69 pips of move from entry to exit. "R1" should read "100 pips target to S1 support." And, "mid-point between CPP and S1." Sidebar should read, "150+ pips potential from CPP to S1) ).

Agree with this 150%

Chart and trades summary

Hello Greg:
I just wanted to say thank you for this thread. I am new to forex and your charts and trades are helping my learning. Thanks again.
flinty

Most welcome, Flinty, I'm glad the charts and analysis are helpful.

Received a private message today, asking about last night's trades, wondering if they were scalping trades vs. the 100 pips opportunity strategy. Ans: Yes, of course, they were scalping trades. We all know we have to take what the market gives. Sometimes we skip trading all together because we don't like what the market is giving. Last night I didn't see a clean 100 pips opportunity, but rather spurts of momentum and opportunities to grab a few pips and get out before momentum stopped or there was a pullback. I don't like these kinds of markets, but hey. For me scalping is a lot more stressful. With scalping there is no strategy. You just jump in, jump out. The smaller times frames become more important with scalping, 1 min, 5 min, 15 min. The 5/8 moving averages crossover, oversold or overbought stochastics are very important. Summer months can frequently be slow, herky-jerky. So I'm not trading as much. I'm looking forward to September and the return to "normal" market trends. In the meantime, just-to-stay-in-practice, I grab a few pips here and there.

Cheers,
Greg

im not sure whther this has been asked before but what broker do you use greg? Thanks

FXCM. I've mentioned this several times in previous posts.

Greg