My path to financial freedom

short gold on TL break...calculated my risk wrong though so only 0.75% at risk.

Here we go. We're filling the gap

Yep...ftse and dax have been steadily falling all day towards filling the gap...dow and S&P in particular are now gaining some momentum...took this BEOb on GU 15min across the PPZ...got re quoted on my market order though.

Been looking into using an STP broker like Jade FX in addition to Oanda and Fxpro (have to use fxpro from my futures) and reckon I'll open an account this week. Anyone got any experience of an STP broker and Jade FX?

Saw that on GU too late else I would have taken it with you (PB on M30 also). I was watching UJ (got a short on the break of the H1 IB and H4 PB).

Sorry man, no experience. Only live broker I use is ActivTrades. Opened an account with them due to their micro-lots, but they do have horrible spreads...

great entry on UJ...if equities to fall down hard then UJ will tank hard too. I was too busy watching tennis lol!

Just managed to get in on the 4HR UJ pin bar on the retrace...pheww!

Notice equities falling and gold falling...contrary to what 'should' happen!

Big H1 BUOB on UCa engulfing 11 prior bars.

A great PA bar...but so much traffic to the left...so not taking it.

Moved SL on GU down slightly to just above the PPZ and added a pending order @ 1.4802 if we can break the PPZ - P&V style trading.

Second order triggered...lets see if we can get some momentum...MA below will provide support but if equities keep falling then we shouldnget down further...that's a big IF though...momentum has been lacking for a while now...equities are only gradually falling...no economic news to provide a catalyst...could be a good setup for it to fall tomorrow though with news around...

Gold at an obvious TP of 1250 now...will hold and move SL to BE...wanna see if wthis is the start of a bigger move. I'm also short YMUO from earlier and EG (small 1HR pin bar) and a various basket consisting of UC,EU,GJ,AU so far.

Hi Lovejoy just came back from my job i saw i missed a good 1 on gbp/jpy..

Shame.


http://i45.tinypic.com/epj2go.jpg


I have a question to you do you mind to share your tpl with the ma's settings etc i wanna try the colours the whole thing hope you dont mind.

Thanks..

The pin near the top of the range would have been better.

I've been very cautious today with my shorts...we got a sell off last week but it didn't go anywhere near to where I expected and I got seriously burned by over leveraging on xxx/usd and jpy shorts. But today I missed a trick by having most of my exposure to xxx/usd short rather than g/j, e/j and c/j.

Stioll being pretty cautious i'm up over 4% on open positions and wont be taking losses!

I entered some ej and cj exposure a while ago...way to late really though and another EU short on break of 4HR support area.

Will monitor existing trades now as YM plus EP both near potential support areas...this might just be a mini sell off so will take profit if we get a retrace. We are selling on no real news though which is a good sign as we have lots of decent news tomorrow which could give us some real momentum...anyway we'll have to see...

really bloody regretting messing up my gold exposure and only having 0.75% exposed to shorts! Have to say someone more experienced than me told me they thought Gold would drop and pointed out why they though it would...so thanks Rac!

Any fundamentals for that gold move?

Not that I know off. I just took full profit on it...its hit a TL and PPZ confluence...even with 0.75% exposed I still made 2.5% on that trade.

I got showed a chart of dow and gold on middle of may...and also a monthly chart of oil.

Taken all profit now...had a bounce at equity support areas...we could have further moves down but I've got a bad migraine (I get blurry eyesight when I have a migraine) so need to get away from my screen and get some sleep. I'm gonna enter some speculative shorts with wide stop losses and leave them until tomorrow...hopefully I wont miss a really big move. Made about 9% today so stopped my 5 day losing streak!!

Well thedow and S&P reacted exactly like I expected them too in the confluenced areas. EU and GU in particular have bounced down off confluenced areas too. These moves were made on no economic news...it will be very interesting to see what teh data is like tomorrow and how the market reacts...that will give us a big clue as to whether we will continue down, over the last 2 weeks the market has sustained its rally on bad news...if its bad tomorrow will it rally on dips or tank further down...that's what I'll be watching.

Even though I've made some decent gains today, on sell off's like today I've made 25% + so in review I have actually traded quite poorly, bit annoyed I didn't keep hold of EU, GU, AU, AJ shorts as I want to trade them on the longer term time frame too i.e. hold them as we could now see the resumption of the downtrend i.e. I could have held positions from the start of a potential new trend.

I closed some of my trades a bit too early and should have stayed calm and left them, but I suppose that's what happens after you've had a bad run, in a way I'm just glad that the market reacted like I expected it too and I made some decent daily gains! A day like today would be exactly where I'd be loading up in my new basket trading style gaining 5-8% account exposure to shorts and leaving them to fall as long as the equity markets fall.

Got a few small shorts open but apart from that I'm done for today, back tomorrow...will be an interesting day.

Have orders short on the GU and EU BEOB's (on Oanda) and the 4HR EJ pin bar. 2% on the daily setups and 1.5% on the EJ setup.

Also have pending shorts on gold based on daily BEOB and a potential touch trade retrace if we get there first. Lots of trouble on gold BEOB bar but hoping we can have a big momentum move down like yesterday.

A bit disappointed with myself that I didn't hold some touch trades on most pairs from yesterday. Have learnt that I have to make a detailed plan in advance for expected event like yesterday.

I also have smaller longer term shorts on EU, GJ and AJ from yesterday evening.

Also have a lower risk entry into the daily BEOB for 1%.

The daily setups...pretty simple PA off good confluenced area...exactly where I should be holding touch trades from...it doesn't get better or simpler than that really.

Higher TF PPZ.

What else you need?
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