AtClarkson Trading J16

No PA for me today. I will be posting my followups on the trades I did not take, as all but one I believe made money.

Didn't get the job offer at TD Canada I was hoping for today.

Headed to the gf's for dinner.

haha... got stopped out by 2 pips on the AUD JPY. Made money beyond breakeven, but need to review why it went there. I tried to give it some room to move, but lost 50 odd pips in the process. Not at my charts at home, (watching Buffy with the missus, lol) but will look later tonight. Regardless, made money and that's important.

back soon

Reviewing AUDJPY trade:

Got stopped out at 78.20, I thought it only dipped a couple pips but in reviewing the one hour chart to see how it moved, it went even lower after I looked at it, to 77.97, which is 6 pips below the top of the pin I took. Wild.

It's carried on to go even higher, but would not be worth the drawdown taken. In hindsight, I probably should have kept my stop a bit tighter, this is something that I'm sure will come with experience. Beings this was a less than A+ pin, tighter stops would have made sense. A pin with lots of space and confluence, could be given more room to breathe. Something to think about next time.

All said and done, I made 17 pips on half the position (when I moved to breakeven) and then got stopped out for a 7 pip win on the second half of the position.

Follow up on the other pins from Friday:

GBPJPY - had trouble about where it should have, would have been good for a quick profit if closely monitored. Created a small reversal bar.

USDJPY- Failed Pinbar, altho not a good one to begin with. Resistance too close above. Only moved 5 pips above nose, which would not have even got me in buying 10 pips of the break.

AUDUSD - I didn't mention this one on friday because it did not close within the range of the previous bar. Yet it has moved over 150 pips, first trouble point was bang on with prev resistance, is currently at the next expected resistance (past highs) and has broken it, just. Lots of potential to continue to move. Very interesting to watch.

USDCAD - Has moved 125 pips, turned out to be a great trade, is currently at the prev double bar low and if it makes it thru that, should run to the 1.063 area.

EURJPY - Not much of a pin to begin with, moved about 35 pips.

NZDJPY - Was a nice pin, and moved well. Currently up over 100 pips.



Whew! Wonder if when there are so many pins if it is wise to take them all, or if I had the right idea picking a couple. With good trade management (and close monitoring) they would all be winners, and you would have caught the nice move too. On the other hand, it would be confusing keeping track. Again, likely with practice.

Spent some time reading about trading on the iPhone, which I feel could be an incredible tool to use to monitor your trades away from the computer. Set an alert for 20-30 pips above your entry so it will let you know to move your stops to breakeven. Sure beats letting those small wins turn into losers, and a good way to keep your stops moving on the bigger winners. Somethign I will really consider as I get better at this.

Gnight all

No PA today. Read one of the consolidated threads a second time, need to watch some more videos. Applied for a couple jobs, I need some steady income for the time being!

G/J

Nice pin has been formed, and it's a double bottom, but it's going against the trend. No ppz behind it. Resistance at 142.90- 143.00 level. Might be a good quick trade, but I'm going to stay out of it. not A+ setup by any means.

http://i189.photobucket.com/albums/z...oct7gbpjpy.gif


Got another email from the bank today, Interview tomorrow!

Quick look at my charts gives me no PA today, Gotta run to work...

Bank interview went well today... I have some heavy thinking to do tho!

good luck with the job hunting man! im sure it will help your trading to have that money coming in..

when i get home from work i find it quite relaxing to read posts, watch trading vids.. chat to ppl, look at my charts. ect.. I can only do this because ive got money coming in every week.

Thanks

I'm a chronic job hopper... and I need to stop and get a real job and stick at it. Right now I have one on the table, and I need to decide if it's going ot be the one or not. Its a bank job, I get my own office, good pay (I think, it is a bank job after all lol) bonuses, pension, stock plan, benefits, the works. Its exactly what I've gone to school for and I have all the credentials.

I know it's ridiculous, but I'm really having a hard time strapping down and giving them the commitment that I will give it at least 2 years. I've got alot of soul searching to do, but I know already what the smart decision is. I'm a country boy who likes to work with his hands and wear jeans and a tshirt everyday. None of this dressing up, and ties and blah blah blah....

I guess when it comes down to it... you've just given me another good thing about it. It's easier to trade when you've got money coming in. I do love sitting down to my charts everyday... I'll have to change my schedule for it, as I won't be home for the 5pm close (NY close) everyday, maybe I'll do like you and trade before work.

Not to mention, money coming in equals additions to my trading account for when I go live.... hmmmm

man i would love a job in a bank, not doing banking stuff but trading lol. Sounds like you have a great job opportunity to think about. I have just got a part time job, this was after years of unemployment and i can say that it makes me less stressed when trading as you know you have some money in.
and hey, you can install mt4 on your work comp to check in on your trades whilst your at work. Its not the end of the world. You may even be able to afford the way over priced iphones to trade from

all the best with your soul searching no doubt ull keep us posted on the latest word

AT if you need a quick demo on installing running an EA just ask!

ps- im a tradie (or contractor in north america, i think) so i completely understand the tie, shirt, have to look good every day at work thing.

matt- Trading would be awesome, buy you have to work downtown (traffic, hour+ drive to and from work, city... yuck.) Not to mention the years you have to put in as an analyst first! This keeps my head in the game all the time if nothing else!

stoiter- I'll take ya up on that sometime soon

and tradie is my new favourite word.... too cool lol. What do you do for a living?

Nothing today.

"Sit in the bushes with a rifle..."

So I'm gonna go for the bank job. I hope they will still consider me.

Minimum 2 year commitment, look good everyday and office... but the money should be good, lots of room to move, close to home, in my field, benefits, pensions, etcetc.

Excited for it, but even more so for the year I make more at trading that at work, and can officially retire from the work force!




On the trading side, I read the last few days posts on the chart thread.. whew! moves so fast in there. I can't wait to get into the PF, and think Jim starting his own forum would be incredible, our very own beginners thread perhaps....

cool man, when do you start if they consider you?
also do you use macd or divegence in your trading? or just stick to pure plain charts?

within a week or so i would imagine, not sure.
I have not gotten into divergence or even fibs yet, I need to learn them soon tho. I think I have the basics down, it's time to move up to that stuff.

what specific bank job?
Good for u.

Financial Services Rep. I'll do everything from opening checking accounts to mortgages and mutual funds. Lots of sales, lots of goals and targets and such.

Oct 12 Trades:

N/U - Pinbar, nice form, sticks thru PPZ at .73, uptrend, trading with the trend

Buy 10 pips above pinbar, Stoploss below PPZ and big round number .73, TP is in case I'm away from the computer and it runs hard (overnight, etc)

Buy at .7371
SL .7290
TP .7420
(at time of posting my buy order has been hit)

http://i189.photobucket.com/albums/z...ct12nzdusd.gif

Good pinbar, close is just in the bottom third of the bar, Sticks thru PPZ and big round number of 90.00. Down trend, trading with the trend.
I see the fairly solid recent support/resistance I would be trading into, so I have set my limit sell below that level so I may use it as solid support if I do get in. First trouble area is the 88.700 level after this. Stop above the ppz and big round number of 90.00, take profit just above prev bar low.

U/J
Sell 89.22
SL 90.10
TP 88.65

http://i189.photobucket.com/albums/z...ct12usdjpy.gif


As always, will manually move stops and increase take profits if conditions warrant. Looking to get to breakeven and sell half at about 30 pips profit.

As I read more and more on the J16 chart thread (I am now re reading the first hundred pages) I'm starting to think I'm not being picky enough in my setups. Altho most of them have moved really well (without me on board... lol) I suppose time will tell. Hopefully I can get a pro in here to review my trades sometime....

Stressing about my trades. Bad. No emotions! I am NEUTRAL!



I think I check my trades too often. N/U has alreayd gone 25 pips in profit and I did not catch it in time to go to breakeven, it was at about 20 when I checked it. I think trading in the morning and checking again when I get home will help overcome this. I need to trust the methods of PA and accept that not every trade will be a winner.

I also wonder about my position size. I am trying to set my stop losses tighter, and this enables me to take a larger position. Not sure if this is good or bad.

It's true what they say... psych is most of the battle. I will get it tho. I'm only a few weeks into demoing J16 and being too hard on myself. I am excited to join the PF so I can get more feedback on my trades. I think this will really help.