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go live or bust ... diary of an fx live-trader-wannabe

  • #1,421
  • May 2, 2010 5:56pm May 2, 2010 5:56pm
tokyo & london are closed during my trading session today/tonite, but i am going to press on regardless b/c i want to get into the habit of pulling the trigger. my plan is still to go live next week.

swing trade to start the week will be U/CHF weekly ... pin bar is above support so i am going to watch for the market to find a cheap entry.

E/U pulling back so that is on my radar.
"Believe nothing you hear and half of what you see." Proverb
  • #1,422
  • May 2, 2010 9:40pm May 2, 2010 9:40pm
Quoting fxgrinder
E/U pulling back so that is on my radar.
played a pullback off the 30 min chart ... loser (not my rules). fine, but someone was seriously interested in exchanging EUR/USD during the closed market as price tanked w/o warning.

decided to play the E/U off the daily chart as a pullback (found a comparable trade on the E/J as well).
"Believe nothing you hear and half of what you see." Proverb
  • #1,423
  • May 3, 2010 8:27pm May 3, 2010 8:27pm
Quoting fxgrinder
played a pullback off the 30 min chart ... loser (not my rules). fine, but someone was seriously interested in exchanging EUR/USD during the closed market as price tanked w/o warning.
saw another later on in the london, but decided to pass as there was no way of telling when it would hit my 1st off target ... in hindsight, might have been good as a set & forget to the first stop.
"Believe nothing you hear and half of what you see." Proverb
  • #1,424
  • May 3, 2010 8:29pm May 3, 2010 8:29pm
Quoting fxgrinder
decided to play the E/U off the daily chart as a pullback (found a comparable trade on the E/J as well).
E/J has been stopped out (TSL to 4hr swing high) ... were i better at trading multiple charts, i could have easily taken this off the 4hr as a pullback. maybe if i get more monitors ... ;-)
"Believe nothing you hear and half of what you see." Proverb
  • #1,425
  • May 3, 2010 8:31pm May 3, 2010 8:31pm
Quoting fxgrinder
swing trade to start the week will be U/CHF weekly ... pin bar is above support so i am going to watch for the market to find a cheap entry.
found my cheap entry on the hourly ... was planning on entering on a 50% retrace, but when price reached there, it was clearly not going to be going short for a while so i decided to wait for a more logical entry (TL break on the hourly & is right around the 50% retrace anyway). set and forget until the morning.
"Believe nothing you hear and half of what you see." Proverb
  • #1,426
  • May 3, 2010 8:32pm May 3, 2010 8:32pm
intraday E/U ... pullback short failed (very small loss) & i reversed on a confirmed TL break. presently in the black, but time will tell.
"Believe nothing you hear and half of what you see." Proverb
  • #1,427
  • May 3, 2010 11:24pm May 3, 2010 11:24pm
Quoting fxgrinder
intraday E/U ... pullback short failed (very small loss) & i reversed on a confirmed TL break. presently in the black, but time will tell.
market waiting on the rate announcement ... this week is going to be trying.
"Believe nothing you hear and half of what you see." Proverb
  • #1,428
  • May 4, 2010 2:36am May 4, 2010 2:36am
Quoting fxgrinder
market waiting on the rate announcement ... this week is going to be trying.
hit my first target. 1/2 off & rest to b/e. seems to have bounced straight off yesterday's low, so not sure if this will hold.
"Believe nothing you hear and half of what you see." Proverb
  • #1,429
  • May 4, 2010 3:45pm May 4, 2010 3:45pm
Quoting fxgrinder
found my cheap entry on the hourly ... was planning on entering on a 50% retrace, but when price reached there, it was clearly not going to be going short for a while so i decided to wait for a more logical entry (TL break on the hourly & is right around the 50% retrace anyway). set and forget until the morning.
totally wrong & honestly, completely contrary to my set-up ... fell victim to someone else's signal using my rules for entry. i have since "unsubscribed" to that forum as i seem t/b doing just fine on my own ...

speaking of which ... my E/U swing trade hit its target so i am right around where i started for the week (the E/J was a garbage "instinct" trade & the U/CHF had nothing to do w/ my set-up so i would be up instead of slightly below even had i just followed the plan ...)
"Believe nothing you hear and half of what you see." Proverb
  • #1,430
  • May 4, 2010 3:47pm May 4, 2010 3:47pm
Quoting fxgrinder
hit my first target. 1/2 off & rest to b/e. seems to have bounced straight off yesterday's low, so not sure if this will hold.
this trade is a major cous. turned off the charts & entered a poker tourney satellite instead (i won a ticket too!) ... woke up to find price had reached my final target. yielded 4.2% on my account. the account is the highest it's been since i started in april.

still struggling w/ those TL breaks & they are where most of my losses occur. am i listening?
"Believe nothing you hear and half of what you see." Proverb
  • #1,431
  • May 4, 2010 6:23pm May 4, 2010 6:23pm
swing trade off the G/J ... couldn't ask for a better set-up, but again, only time will tell.
"Believe nothing you hear and half of what you see." Proverb
  • #1,432
  • May 4, 2010 11:13pm May 4, 2010 11:13pm
i've been so distracted by my win, that i failed to pay attention to other set-ups (i was up late & missed one) & then missed another pullback for at least 0.8% ...

regrouping.
"Believe nothing you hear and half of what you see." Proverb
  • #1,433
  • May 5, 2010 12:20pm May 5, 2010 12:20pm
Quoting fxgrinder
i've been so distracted by my win, that i failed to pay attention to other set-ups (i was up late & missed one) & then missed another pullback for at least 0.8% ...

regrouping.
nope. i didn't. i kept right "assuming" and passed on the third pullback. turned out to be a mistake ... :-(
"Believe nothing you hear and half of what you see." Proverb
  • #1,434
  • May 5, 2010 12:29pm May 5, 2010 12:29pm
Quoting fxgrinder
swing trade off the G/J ... couldn't ask for a better set-up, but again, only time will tell.
it's in the black. will TSL later.
"Believe nothing you hear and half of what you see." Proverb
  • #1,435
  • May 5, 2010 12:30pm May 5, 2010 12:30pm
Quoting fxgrinder
nope. i didn't. i kept right "assuming" and passed on the third pullback. turned out to be a mistake ... :-(
alright ... im in now. now watch it become exhausted. LOL
"Believe nothing you hear and half of what you see." Proverb
  • #1,436
  • May 5, 2010 1:09pm May 5, 2010 1:09pm
Quoting fxgrinder
it's in the black. will TSL later.
have taken about 1/2 off at 100 pips up. TSL to the 4hr swing high.
"Believe nothing you hear and half of what you see." Proverb
  • #1,437
  • May 5, 2010 1:49pm May 5, 2010 1:49pm
Quoting fxgrinder
have taken about 1/2 off at 100 pips up. TSL to the 4hr swing high.
haha, joke's on me. dropped another 75 pips.
"Believe nothing you hear and half of what you see." Proverb
  • #1,438
  • May 5, 2010 1:50pm May 5, 2010 1:50pm
Quoting fxgrinder
alright ... im in now. now watch it become exhausted. LOL
nope. dropped 40 pips to my 1/2 off target. SL to b/e. final stop for me is 2800.
"Believe nothing you hear and half of what you see." Proverb
  • #1,439
  • May 5, 2010 2:50pm May 5, 2010 2:50pm
wow. i just went thru my daily swing trades ... i was in most of the pairs that just dropped (the ones i closed out) ... that is a big oh well. i even analyzed the U/CAD for a friend who thought it would return to 1.0 & i thought contrary. another oh well.
"Believe nothing you hear and half of what you see." Proverb
  • #1,440
  • May 5, 2010 4:14pm May 5, 2010 4:14pm
Quoting fxgrinder
nope. dropped 40 pips to my 1/2 off target. SL to b/e. final stop for me is 2800.
target reached. trade was a net 2.5% winner ... im 5.4% net for the week.
"Believe nothing you hear and half of what you see." Proverb
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