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  • #1,561
  • May 18, 2010 1:21pm May 18, 2010 1:21pm
1st trade of the day
ill update this as it progresses, good or bad
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Simplicity is the key to success
  • #1,562
  • May 18, 2010 1:53pm May 18, 2010 1:53pm
Okay...today has been a realy sh*t day...it can happen and it has happened. I've made every mistake possible IMO today...I've been over my trades and had a fresh look at all my intraday charts with a clear head and how I would have approached them again...and below is some of the trades I could and should have made today in accordance with my rules...most of them are self explanatory to people that have been follownig my thread...a mixture of PA, touch trades and breakouts with the trend....so simple in retrospect.

I think my problem has been that I've had a set direction in mind and I have to start ignoring equity markets somewhat as I'm too focussed on them and just try and keep it simple and just trade what I see in accordance with my rules...I'm trying to be too clever and analytical.

I find that really hard at times as my mind is full of bias and thoughts but I really do need to get back to looking at a chart and just doing what it is telling me to do bearing in mind correlation and equity markets and commodities but not lettnig them rule my trades.

Charts to follow...
  • #1,563
  • May 18, 2010 2:04pm May 18, 2010 2:04pm
.
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  • #1,564
  • May 18, 2010 2:07pm May 18, 2010 2:07pm
...
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  • #1,565
  • May 18, 2010 2:08pm May 18, 2010 2:08pm
here is one i saw a bit late, tried to use limit order to come pick me up but it had other plans, oh! well....order cancelled
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Simplicity is the key to success
  • #1,566
  • May 18, 2010 2:11pm May 18, 2010 2:11pm
2 current trades:

1. touch trade on gold...PPZ, TL and 50 fib...pull the trigger.

2. E/CAD - this triggered some hours ago but is now in profit...trend trade...break off consolidation.
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  • #1,567
  • May 18, 2010 3:39pm May 18, 2010 3:39pm
Moved stop to BE on gold and E/CAD...would have taken partial profit on gold but am trading minimum lot size so can't...have put a pending order short if gold breaks the support level with SL just above the MA (allowing for spread). If it comes back and hits SL then so be it I'm willing to give this trade some room

With regards E/CAD the trend is strongly down so happy to let this one go...it might come back up and retest the previous support ...if it does I'll re-enter with a tighter stop and more risk as initial stop was relatively large.

Once my spreadbetting accounts are up and running I'll start trading commodities, equities and oil via spreadbetting as should be much easier and much lower minimum 'bet' size.

Right off to sleep to get refreshed for tomorrow...have had a very expensive lesson today....two more rules to add to my list:

1. Always look at the market objectively without any preconceived bias and trade what your charts tell you at all times....dont over analyse things...trading is simple if I just trade my setups.

2. Follow my rules at all times. lol
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  • #1,568
  • May 19, 2010 12:16am May 19, 2010 12:16am
Quoting squeezy
1st trade of the day
ill update this as it progresses, good or bad
seems i got up before everybody, shish! ill try not to make noise then
quick update to my cadjpy trade
hey neutro, my breakevenexpert activated while my system was off...lol
ok ill be back
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Simplicity is the key to success
  • #1,569
  • May 19, 2010 12:24am May 19, 2010 12:24am
Quoting squeezy
seems i got up before everybody, shish! ill try not to make noise then
quick update to my cadjpy trade
hey neutro, my breakevenexpert activated while my system was off...lol
ok ill be back
Nice one
  • #1,570
  • May 19, 2010 12:31am May 19, 2010 12:31am
Quoting lovejoy80
Moved stop to BE on gold and E/CAD...would have taken partial profit on gold but am trading minimum lot size so can't...have put a pending order short if gold breaks the support level with SL just above the MA (allowing for spread). If it comes back and hits SL then so be it I'm willing to give this trade some room

With regards E/CAD...
Gold bounced back up and hit my SL on initial touch trade and thus out at BE before sailing down through the support at second attempt and triggering second order. Will move to BE now.

Shame I wasnt awake otherwise I would have reentered the touch trade again and woulld be in a decent %R profit now. As it is I'm about 1.5R in profit but reckon gold will move lower so willing to try and catch a runner (normally I'd take some profit but cant as I'm trading minimum lot sze).


E/CAD came back up and I've just missed gettin back in...i.e. price came back retested old support as resistance...hmmmm maybe I should have left my SL above the S/R as we are in a strong down trend...

Anyway simple stuf really...just shame I was asleep so couldnt get new entries in.

Havent reviewed any other charts yet.
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  • #1,571
  • May 19, 2010 1:12am May 19, 2010 1:12am
Decided to exit Gold for some profit...no point in taking two BE trades on it...want to show some $ for my effort lol. Will re-enter if we retrace back to resistance or if we break 1206.95 support.

Result + 0.72R
  • #1,572
  • May 19, 2010 1:53am May 19, 2010 1:53am
Quoting lovejoy80
Decided to exit Gold for some profit...no point in taking two BE trades on it...want to show some $ for my effort lol. Will re-enter if we retrace back to resistance or if we break 1206.95 support.

Result + 0.72R

Nice gold trade LJ
let's see what the mkt has in store for us today
Simplicity is the key to success
  • #1,573
  • May 19, 2010 3:05am May 19, 2010 3:05am
EUR / AUD...broke above PPZ and retest...initial target round number - 1% at risk.
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  • #1,574
  • May 19, 2010 3:12am May 19, 2010 3:12am
I thought to post this.

This is where yesterday we all had some problem.

Difficult to foresee it but not impossible. A pure breakout, no re-test. Can it happen again today ?
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  • #1,575
  • May 19, 2010 3:19am May 19, 2010 3:19am
Another attempt @ E/CAD...not convinced this PPZ will hold but worth ashot.

Two other pending orders on very trendy pairs...looking to take breaks of support to get in on the strong down trend...PV style trading.
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  • #1,576
  • May 19, 2010 3:21am May 19, 2010 3:21am
Quoting ogeid
I thought to post this.

This is where yesterday we all had some problem.

Difficult to foresee it but not impossible. A pure breakout, no re-test. Can it happen again today ?
That was a nice break! I tend to not go down further than the 1HR when looking at my pairs unless we are at a BRN and/or strong PPZ and I'm looking for some PA to give me a clue.
  • #1,577
  • May 19, 2010 3:33am May 19, 2010 3:33am
Quoting lovejoy80
EUR / AUD...broke above PPZ and retest...initial target round number - 1% at risk.
Took full profit here...cant take partial profit otherwise would have liked to have closed 50% and moved SL to BE+10....end result +1.79R (1% @ risk)

PV style trade on UC.
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  • #1,578
  • May 19, 2010 3:37am May 19, 2010 3:37am
Cut E/CAD...PPZ didnt hold. -0.84R (2% @ risk)
  • #1,579
  • May 19, 2010 3:40am May 19, 2010 3:40am
Missed the touch trade on gold but a 1HR pin bar would be nice
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  • #1,580
  • May 19, 2010 3:50am May 19, 2010 3:50am
What is causing the big move on AUD ?
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