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My path to financial freedom

  • #521
  • Apr 21, 2010 2:06am Apr 21, 2010 2:06am
Quoting lovejoy80
Feeling angry and frustrated with my performance this week...was in nice profit last night on the shorts and to wake up this morning to suffer losses was tough especially after two losing days in a row...

Played far too many counter trend trades - trying to pick reversals too much, all because I missed catching the trends on monday on xxx/jpy.

Just re-read all my posts in this journal and my trades to remind myself how I made over 300% cos at the moment I've lost the mojo lol! The majority of my trades have been either a) playing breakouts in...
thumbs up x 1000. It really is something to figure things out that quickly. You're on the right path of discovering. Don't get tied in the losing trades. Take them, accept them and dissect them.

I like that you write your thoughts here. It makes me look harder at what I'm doing, wrong or right. Keep it up, we're here for the long run. (I hope)

And you've just summed your trading style in a few lines. That's something.
  • #522
  • Apr 21, 2010 2:18am Apr 21, 2010 2:18am
Quoting lovejoy80
Very similiar story to me...I have no idea why I didnt take the touch trades...normally I'd be all over them but for some reason as it was a Monday I wasn't fussed...very bewildering. If I'd taken them and held them then this week would have been very different so far as I'd just be playing the trends...would have been very dull...just how trading should be lol.

I find being hesitant is always a bad thing...it affects me badly when I try to think or analyse a particular setup too much...whereas if I go on automatic mode then I feel my inner confidence...
I am not good with words so i'll let the Beatles do it.

Inserted Video

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  • #523
  • Apr 21, 2010 2:32am Apr 21, 2010 2:32am
Quoting lovejoy80
Exited EU @ 1.3437 - BUOB on 1 HR and USD and JPY look very weak...this is hurting.
GBP is at important R&S against all main pairs: CAD, CHF, JPY, USD.
In 1 Hr will know.
  • #524
  • Apr 21, 2010 2:41am Apr 21, 2010 2:41am
Quoting nasir.khan
Nop i am all messed up this week in CT's.

First i missed the touch trades. Then i changed my mind at the last moment and missed first PV trades too.
.
Hey guys,you are doing a good job here...very helpful...Thx.
Can you explain what is pv trades,i assume CT means counter trend...
correct me if i'm wrong, thank you.
  • #525
  • Apr 21, 2010 2:51am Apr 21, 2010 2:51am
Thinking of shorting AUD/xxx. May be Aud/Jpy or AUD/Usd.

Any thoughts?
  • #526
  • Apr 21, 2010 2:53am Apr 21, 2010 2:53am
Quoting di man
Hey guys,you are doing a good job here...very helpful...Thx.
Can you explain what is pv trades,i assume CT means counter trend...
correct me if i'm wrong, thank you.
Hello, you can find PV trading here.

http://www.forexfactory.com/showthread.php?t=62141
  • #527
  • Apr 21, 2010 3:05am Apr 21, 2010 3:05am
Quoting di man
Hey guys,you are doing a good job here...very helpful...Thx.
Can you explain what is pv trades,i assume CT means counter trend...
correct me if i'm wrong, thank you.
CT for Counter trend

and

PV for Peaks and valleys...
.
  • #528
  • Apr 21, 2010 3:16am Apr 21, 2010 3:16am
Ok today i am bullish on Pound.

PLease somebody save me from myself.
.
  • #529
  • Apr 21, 2010 3:21am Apr 21, 2010 3:21am
Quoting ogeid
GBP is at important R&S against all main pairs: CAD, CHF, JPY, USD.
In 1 Hr will know.
On GU and GJ the big PPZ areas are above .... 145 for GJ and 1.5220 - 70 on GU.

HH and HL on GU daily but @ 4HR resistance....until we break the PPZ mentioned above this pair is still ranging for me.

GJ is in an upward trend but has been consolidating near in a range near 145.

I'll take a proven break above these areas (gotta be carefull about false breakouts due to news spikes) andwill enter small sell positions on a touch.

I would be looking to sell (small position) if we got near these daily range highs or buy a breakout.

GU current 4HR setup is confluenced but there has been no real rejection...I look for strong rejection of a PPZ ...themore it hangs around it the more likely it will break it. I've payed GU short a few times this week and it's neer followed through.
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  • #530
  • Apr 21, 2010 3:24am Apr 21, 2010 3:24am
Quoting lovejoy80
On GU and GJ the big PPZ areas are above .... 145 for GJ and 1.5220 - 70 on GU.

HH and HL on GU daily but @ 4HR resistance....until we break the PPZ mentioned above this pair is still ranging for me.

GJ is in an upward trend but has been consolidating near in a range near 145.

I'll take a proven break above these areas (gotta be carefull about false breakouts due to news spikes) andwill enter small sell positions on a touch.

I would be looking to sell (small position) if we got near these daily range highs or buy a breakout.

GU current...
If GU hits 410 again, 500 is next. imo
.
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  • #531
  • Apr 21, 2010 3:28am Apr 21, 2010 3:28am
Quoting ogeid
Thinking of shorting AUD/xxx. May be Aud/Jpy or AUD/Usd.

Any thoughts?
I'd prefer nearer the range highs i.e. >87.20 area for a short personally. Not much space though as PPZ's below. Breakout coming at some point...I'll play the breakout.

If taking swing trades then you'd need SL above the highs i.e. on AU above .9410 alternatively ican play the 9325 PPZ and TL confluence - agin I've played that area this week and been no follow through i.e. any dips and buyers are coming in with the trend.

Gold is struggling to get bove PPZ though.
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  • #532
  • Apr 21, 2010 3:29am Apr 21, 2010 3:29am
Quoting lovejoy80
On GU and GJ the big PPZ areas are above .... 145 for GJ and 1.5220 - 70 on GU
Thanks for the analysis.

GU 1.5380 is like a magnet for this pair. It is 3 weeks it flips around it.
  • #533
  • Apr 21, 2010 3:43am Apr 21, 2010 3:43am
Quoting neutro
Hello, you can find PV trading here.

http://www.forexfactory.com/showthread.php?t=62141
Thx guys...very interesting concept.
  • #534
  • Apr 21, 2010 3:44am Apr 21, 2010 3:44am
Quoting nasir.khan
If GU hits 410 again, 500 is next. imo
.
I'm with you on these...until we get to the daily PPZ areas the trend is clearly up on GU and GJ...also bought GCHF on pullback to PPZ

I'm much more confident on these trend trades...all attempts to short GBP at intra day PPZ has failed this week...no follow through so plenty of buyers coming in on dips.
  • #535
  • Apr 21, 2010 3:49am Apr 21, 2010 3:49am
Quoting lovejoy80
I'm with you on these...until we get to the daily PPZ areas the trend is clearly up on GU and GJ...also bought GCHF on pullback to PPZ

I'm much more confident on these trend trades...all attempts to short GBP at intra day PPZ has failed this week...no follow through so plenty of buyers coming in on dips.
No gym?
  • #536
  • Apr 21, 2010 3:55am Apr 21, 2010 3:55am
Get ready guys.

Which way???

Not sure as yet.

But just get ready cause price always tips you before the next move.
.
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  • #537
  • Apr 21, 2010 3:57am Apr 21, 2010 3:57am
Quoting neutro
No gym?



Good job Neutro.
I like it.
.
  • #538
  • Apr 21, 2010 3:59am Apr 21, 2010 3:59am
EG - added another short on pullback to PPZ short @ 0.8739. SL @ 0.8750 - 1% (3 positions open on this pair now)

Approaching 0.8700 PPZ...will take profit here...might leave some on the table but strong PPZ and TL below too so will take a lot to break these IMO.

Long GU and GJ...as per Nasir analysis, just playing breaks of peaks / resistance in direction of the trend.

Long G/CHF earlier ...though spread was really poor (this was prior to news so not sure why poor spread)

G/CHF @ 1.6415 SL @ 1.6394 - 1%
GJ @ 143.66 and 143.60 SL@ 142.58 - 1% in total
GU @ 1.5405 SL@ 1.5377 - 1%

I have notice the time I play long a xxx/JPy pair dow futures are down hmmm...oh well playing what I see...dont over analyse things Mark lol
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  • #539
  • Apr 21, 2010 4:01am Apr 21, 2010 4:01am
Quoting neutro
No gym?
yeah....I have my own gym in the garage so taken my netbook outside and posting between sets lol.
  • #540
  • Apr 21, 2010 4:02am Apr 21, 2010 4:02am
Quoting nasir.khan
Get ready guys.

Which way???

Not sure as yet.

But just get ready cause price always tips you before the next move.
.
Go south....Nasir get your orders in I need some momentum to get through those PPZ. lol
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