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jpa0827 Trading Journal

  • #41
  • May 4, 2010 7:48pm May 4, 2010 7:48pm
In hindsight it would have been more profitable for me to let my 50 pip TSL order to play itself out today, but I decided to get out around the 1.3050 level because I knew that there was a decent amount of traffic up ahead. Meaning the previous highs and lows of 2008 and 2009 as seen on weekly chart. Also I saw a minor little pin on the hourly chart which made me think that we might get some retracement at that level. Also I was thinking to myself..."I have made enough from this trade to get back all of my losses from the previous trade and I am up a few percent on top of that... if i take profit now it is guaranteed. Also that big round number of 1.3000 could get a psychological bounce from the market." Although the market cut through the 1.3000 level like a knife I am happy with my decision. Normally i think I would have been correct but the news is so powerful in this market i think the technicals only have so much power right now.
Attached Image(s) (click to enlarge)
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"Luck favors the prepared mind"
  • #42
  • May 6, 2010 7:33pm May 6, 2010 7:33pm
I am selling the Euros at around 1.2610-1.2600 area with 100 pip stop and will use AH if wrong because i know the euro will continue down again if it doesn't now. volatility in this market could be a pain in the ass but we'll see. I was considering selling this morning at the 1.2750 area a didn't with regret now. This could be me chasing the market, but I honestly think that momentum from fear is driving the market south to near panic levels; therefore I am selling. Opportunity for retracement has been next to nil. Maybe next week!
"Luck favors the prepared mind"
  • #43
  • May 6, 2010 8:50pm May 6, 2010 8:50pm
Just sold another euro lot. based on bearish 15 min signal. I have slightly exceeded my risk on this trade but will be watching for a little while to see if I will hold all lots, otherwise I will dump one or two and hold the rest to maintain proper risk management. added at basically the same level as the others.
"Luck favors the prepared mind"
  • #44
  • May 6, 2010 9:08pm May 6, 2010 9:08pm
I'm going to stick to my plan on this trade, but I will say that I am feeling more emotions in this trade than I would like and it is affecting me in a minor way, which means that this amount of risk is my upper level and I need to make these trades very rarely if ever. Right now I feel like I am at the mercy of the market and that is a crappy feeling. Good news is I have the AH which is why I was willing to trade this in the first place. We'll see what happens. Hopefully good outocome!
"Luck favors the prepared mind"
  • #45
  • May 6, 2010 9:42pm May 6, 2010 9:42pm
Just got stopped out on a really stupid trade. Not my normal style and definitely won't be in the future. Damn, especially after knowing how far this thing has already dropped. Stupid Stupid! Oh Well, AH will be applied if opportunity comes. Also need to remember not to be influenced by other trades that people may be taking. This one hurts!
"Luck favors the prepared mind"
  • #46
  • May 7, 2010 4:08am May 7, 2010 4:08am
AH entry has just been applied. Hope this works a little better now.
"Luck favors the prepared mind"
  • #47
  • Edited 4:22pm May 7, 2010 5:06am | Edited 4:22pm
got out of AH because it was a bad decision. I am now back to square one. Lost all profits made this year so far in less than 12 hours. Pissed off! now the market probably will go the direction i want!
"Luck favors the prepared mind"
  • #48
  • May 7, 2010 4:29pm May 7, 2010 4:29pm
Ok I have overcome my frustration with MY poor decisions last night. I have shaken off these two loses but have not forgotten them. I will continue to think about this over the weekend and get myself ready for next week. Next week I start fresh and will be back to selling into good retracements. If no decent retracement then no selling. My goal is to end the year with a profit target is 30% but profit is main objective obviously. I will do this by using my money management rules that made me the first 11% of the year. plenty of trades to come and no need to rush. It sure is tough not to be greedy with real money sometimes.
"Luck favors the prepared mind"
  • #49
  • May 12, 2010 9:05pm May 12, 2010 9:05pm
Ok I had some personal issues to deal with early this week and my mind was in much more important places a decided that selling Euros just wasn't as important although when I was considering selling would have been very profitable and probably gained back most of what I just lost, but who cares. Plenty more trades to come no rush. I'm back and feeling much more prepared to trade again.
"Luck favors the prepared mind"
  • #50
  • Jun 10, 2010 7:21pm Jun 10, 2010 7:21pm
After waiting over a month for a decent trade level. I decided to enter the market this morning. I sold 2 Euro lots at aroun 1.2083ish. It is currently against me. I was considering waiting until the end of the day to get in the market, but while at work I decided that I wanted to get in before noon. So although it would have paid to wait, I am in anyway. basis of this trade was the minor pullback to horizontal and trendline resistance as well as the 50 fib of the last down move on 4hr chart. Still think Euro will go to 1.10 and probably lower by end of year. I was and still am a little skepticle of this trade. It may be a larger retracement than I wanted, but we'll see. I just know that due to me being super picky lately, I have missed this entire major move because i never got a good retracement. SO hopefully momentum will continue this time. Considering I am in now.
Attached Image(s) (click to enlarge)
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"Luck favors the prepared mind"
  • #51
  • Jun 13, 2010 7:52pm Jun 13, 2010 7:52pm
Well this trade went sour. Looks like we might have a larger retracement. We'll see. I will probably set an AH trade for this one and see what happens.
"Luck favors the prepared mind"
  • #52
  • Jun 14, 2010 8:38pm Jun 14, 2010 8:38pm
Quoting jpa0827
Well this trade went sour. Looks like we might have a larger retracement. We'll see. I will probably set an AH trade for this one and see what happens.

AH has been applied at 1.2202
"Luck favors the prepared mind"
  • #53
  • Jul 1, 2010 8:50pm Jul 1, 2010 8:50pm
I shorted 4 lots of Euros today at around 1.2450 with the thought of the 1.25 being a key resistance. Currently we are above 1.25. I am playing this one a little loose and giving it some room to move. Hopefully it will come down soon, because I'm sick of this cold streak that I have been on.
"Luck favors the prepared mind"
  • #54
  • Jul 8, 2010 6:07pm Jul 8, 2010 6:07pm
Forgot to post that my stop loss was hit. About 100 Pips in negative for that one. And the cold streak continues. Looks like a nice size retracement is possible and if it does happen, I will be geared up to get some great entries hopefully for a longer term hold
"Luck favors the prepared mind"
  • #55
  • Jul 16, 2010 10:29am Jul 16, 2010 10:29am
I shorted a total of 6 lots between yesterday and today and my average is 1.2907. Although I jumped the gun a bit and should have waited for it to get to 1.3000 as I originally planned. I think i'll be ok. Hopefully this turns into a runner. If trade goes in my favor I will wait for confirmation of the trendline break before exiting my position. If no confirmation, I will stay on the south bound Euro Express train. We shall see.
Attached Image(s) (click to enlarge)
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"Luck favors the prepared mind"
  • #56
  • Jul 16, 2010 11:07am Jul 16, 2010 11:07am
Thought this might be a nice note for what I was thinking before taking this trade that i am currently in. Here is a chart of my thoughts before the big up day yesterday.
Attached Image (click to enlarge)
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"Luck favors the prepared mind"
  • #57
  • Jul 19, 2010 9:38pm Jul 19, 2010 9:38pm
Quoting jpa0827
I shorted a total of 6 lots between yesterday and today and my average is 1.2907. Although I jumped the gun a bit and should have waited for it to get to 1.3000 as I originally planned. I think i'll be ok. Hopefully this turns into a runner. If trade goes in my favor I will wait for confirmation of the trendline break before exiting my position. If no confirmation, I will stay on the south bound Euro Express train. We shall see.
I took another loss on this one. about 55 pips. I got out early because I felt that the trade was not going to go my way and the Euro was shaping up for another bull run near term. Therefore, cutting my losses short. I noticed that the PA was forming a bullish flag which made me worried. I will sell at higher levels. No big deal.
"Luck favors the prepared mind"
  • #58
  • Jul 21, 2010 6:28pm Jul 21, 2010 6:28pm
Quoting jpa0827
I took another loss on this one. about 55 pips. I got out early because I felt that the trade was not going to go my way and the Euro was shaping up for another bull run near term. Therefore, cutting my losses short. I noticed that the PA was forming a bullish flag which made me worried. I will sell at higher levels. No big deal.
Ok I'm a little behind on posting this trade, but basically i was correct, the EUro went higher, but I was sleeping during the time I should have gotten in; therefore, I was back in at 1.29 but was way *over-levergaged* causing me to get very nervous during this trade, even though it did go the way I expected. I personally need to work on using less leverage. I find it difficult to do when using my real money account. especially when i know a setup is very highly probable.
Attached Image (click to enlarge)
Click to Enlarge Name: euro.gif Size: 18 KB
"Luck favors the prepared mind"
  • #59
  • Jul 28, 2010 8:21pm Jul 28, 2010 8:21pm
Throwing in a little twist here! Decided to short the CAD/JPY based on the daily. Stop above the reversal bars. short at 84.20ish 3 lots.

I've decided to start looking at a few more pairs for more opportunities. Maybe this will help curb my lack of patience when waiting for a setup on one pair. I will definitely be moving back up in my time frames for a little while. I have gotten too carried away in recent weeks and need to scale back some.
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy.gif Size: 18 KB
"Luck favors the prepared mind"
  • #60
  • Jul 30, 2010 1:09pm Jul 30, 2010 1:09pm
Quoting jpa0827
Throwing in a little twist here! Decided to short the CAD/JPY based on the daily. Stop above the reversal bars. short at 84.20ish 3 lots.

I've decided to start looking at a few more pairs for more opportunities. Maybe this will help curb my lack of patience when waiting for a setup on one pair. I will definitely be moving back up in my time frames for a little while. I have gotten too carried away in recent weeks and need to scale back some.

This tradfe was going great up around 100 pips then in one hour i get this huge reversal that knocked me out at Break even. Crazy... I just can't get away from this little losing streak I have going. Can't wait for it to end. So much for holding that one long term.
"Luck favors the prepared mind"
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