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  • #1,481
  • Jun 22, 2010 2:19pm Jun 22, 2010 2:19pm
Just wanted to stop by and say hi Mike. Always enjoy your posts. Nice GBPJPY trade there.

cheers

fxp
  • #1,482
  • Jun 23, 2010 11:46am Jun 23, 2010 11:46am
Quoting fxprocessor
Just wanted to stop by and say hi Mike. Always enjoy your posts. Nice GBPJPY trade there.

cheers

fxp
Hey FXP, thanks brother! How's everything goin my man?


There hasn't been anything worthwhile to trade as of yet today IMO. My 4 hour charts close up in 15 minutes so I'll see if anything looks good at that point in time.
I dream, therefore I become.
  • #1,483
  • Jun 23, 2010 12:18pm Jun 23, 2010 12:18pm
BTW, it's also FOMC today so that's my cue to go enjoy the day. Screw gambling.
I dream, therefore I become.
  • #1,484
  • Jun 23, 2010 12:26pm Jun 23, 2010 12:26pm
Quoting mike w
Hey FXP, thanks brother! How's everything goin my man?


There hasn't been anything worthwhile to trade as of yet today IMO. My 4 hour charts close up in 15 minutes so I'll see if anything looks good at that point in time.

Hi Mike. Good thanks. You?

I am short USDJPY with a small position but agree not that much going on today.

I did like the GBPUSD 4 HR buob yesterday. Took a decent chunk of change from that.

Just chilling now with my 2 year old daughter watching a Pixar cartoon

Take care and catch you soon
  • #1,485
  • Jun 23, 2010 3:49pm Jun 23, 2010 3:49pm
I'll be hopping on the short train when this 4 hour bar closes for the chf/jpy. That's IF it closes as it is now, which I think it will. My T/P will be at 80.65 with a stoploss at 81.60 initially until I see momentum start to move in my favor on the lower timeframes. Once that comes to fruition, I'll be setting myself at B/E and watching the show.

BTW, Trublu, check where the eur/jpy is at now after that daily setup after the I4B. I'm tellin ya brother, test this out and you'll see how effective it is. I didn't keep the trade on for that long and, truthfully, I'm happy that I didn't, although it did turn into a nice runner.
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I dream, therefore I become.
  • #1,486
  • Jun 23, 2010 9:14pm Jun 23, 2010 9:14pm
Quoting mike w
I'll be hopping on the short train when this 4 hour bar closes for the chf/jpy....
Thanks for another chart Mike, don't have to work Friday so I got all day to watch soccer and do some trading and testing, probably will do more over the weekend as well. Definitely enjoying your journal, had no idea you even had one until a few days ago, have a good night.

trublu
  • #1,487
  • Jun 24, 2010 9:55pm Jun 24, 2010 9:55pm
I just got in down here at the beach and saw this short opp on the aud/usd so I'll be taking the short here, targeting .8615, then getting some sleep after being on planes all day.

Have a great night ladies and gents!
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I dream, therefore I become.
  • #1,488
  • Jun 24, 2010 10:54pm Jun 24, 2010 10:54pm
Quoting mike w
I just got in down here at the beach and saw this short opp on the aud/usd so I'll be taking the short here, targeting .8615, then getting some sleep after being on planes all day.

Have a great night ladies and gents!
Shoot, at this rate, it'll hit TP before I can even get in the shower. I love simple nights with simple trades.
I dream, therefore I become.
  • #1,489
  • Jun 24, 2010 11:27pm Jun 24, 2010 11:27pm
T/P reached. G'nite.
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I dream, therefore I become.
  • #1,490
  • Edited 10:23am Jun 25, 2010 9:55am | Edited 10:23am
Here's a textbook setup I missed. This is one that I would have run the 5 minute setups on afterwards instead of getting in on the close.

Check the 4 hour trend and bullish setup, followed by the 5 minute continuation setups. Plain and simple. It's time for me to hit the beach now and have some fun. Catch ya later, ladies and gents.
Attached Image(s) (click to enlarge)
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I dream, therefore I become.
  • #1,491
  • Jun 27, 2010 12:22pm Jun 27, 2010 12:22pm
I'm reading one of Tony Robbins' books right now and it's awesome. There is so much to gain from this guy and here is one of those things....

Everything we do is out of our attempt to gain pleasure or avoid pain. If we re-associate things that we've previously linked with pleasure to pain, such as over-eating or drinking to excess, it is life changing.

Think about it... we think about instant gratification A LOT, but tend to forget about the long term consequences. When you take the burn from exercising and re-associate it to pleasure through how great you'll look, how great you'll feel, and how much better you'll be with people/opposite sex in the future, doesn't that make you want to exercise a lot more?

And look at the opposite effect if you don't! You'll be a lard-ass. Your self-esteem and confidence drop through the floor. You won't be able to do as many physical activities. You won't be attractive. You will FEEL unattractive. And finally, your health will deteriorate so much faster.

And that's just one example. When we stop looking to the "instant gratification" and starting looking toward the longer term effects of our actions, we take life and run with it.

Just something I thought I'd share because it really is awesome. Have a good one ladies and gents!
I dream, therefore I become.
  • #1,492
  • Jun 28, 2010 8:06am Jun 28, 2010 8:06am
Hi Mike,
Just stopped in to say HI!And will be following your journal.Have a great week!...Josh
  • #1,493
  • Jun 28, 2010 11:16am Jun 28, 2010 11:16am
Mike, I have seen other people here mention Tony Robbins (RyanMCD being one of them).

You guys have your stuff together, so I think it is high time I get to the library tonight to check out "Unlimited Power" at the library.

This to go along with another NLP book I am reading.

Thank you for the recommendation.

T.J.
  • #1,494
  • Jun 28, 2010 2:05pm Jun 28, 2010 2:05pm
Quoting unlv_tj
Mike, I have seen other people here mention Tony Robbins (RyanMCD being one of them).

You guys have your stuff together, so I think it is high time I get to the library tonight to check out "Unlimited Power" at the library.

This to go along with another NLP book I am reading.

Thank you for the recommendation.

T.J.
Hey, how's it goin T.J.? Yeah man, definitely go get that book and others that you can find and start liberating yourself brother. It really is life-changing when you start to put this stuff to work for yourself. Tony really is a brilliant guy with great ideas that go hand in hand with other peoples' works such as Napoleon Hill etc.

And sure thing on the recommendation! I hope you gain something from it my man!



And Josh, How's it goin my man?! I hope you have a great week too dude!
I dream, therefore I become.
  • #1,495
  • Jun 28, 2010 2:40pm Jun 28, 2010 2:40pm
Quoting mike w
Hey, how's it goin T.J.? Yeah man, definitely go get that book and others that you can find and start liberating yourself brother. It really is life-changing when you start to put this stuff to work for yourself. Tony really is a brilliant guy with great ideas that go hand in hand with other peoples' works such as Napoleon Hill etc.

And sure thing on the recommendation! I hope you gain something from it my man!



And Josh, How's it goin my man?! I hope you have a great week too dude!
Glad to see you updating your Journal again Mike, it is a great benefit to me, that is for certain.

I read Napoleon Hill this past spring. I was really impressed. "Think and Grow Rich".

Thanks for your help!

T.J.
  • #1,496
  • Jun 28, 2010 4:24pm Jun 28, 2010 4:24pm
On the break of this 4 hour setup, I'll be placing a short order with a target of 1.6360 initially and, depending how price gains momentum, possibly lower.

This is one of those trades that I'll be watching the 5 minute timeframe for multiple entries and to cut off risk quickly.
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I dream, therefore I become.
  • #1,497
  • Edited 9:33pm Jun 28, 2010 7:00pm | Edited 9:33pm
Quoting mike w
On the break of this 4 hour setup, I'll be placing a short order with a target of 1.6360 initially and, depending how price gains momentum, possibly lower.

This is one of those trades that I'll be watching the 5 minute timeframe for multiple entries and to cut off risk quickly.
I've just entered a position at 1.6422. It's worth it at this point for me to place this trade on the pullback considering the circumstances. My SL is going to be placed at 1.6450 initially and the target of 1.6360 is still in my sights.
I dream, therefore I become.
  • #1,498
  • Edited 9:51pm Jun 28, 2010 9:32pm | Edited 9:51pm
Quoting mike w
I've just entered a position at 1.6422. It's worth it at this point for me to place this trade on the pullback considering the circumstances. My SL is going to be placed at 1.6450 initially and the target of 1.6360 is still in my sights.

EDIT, and voila, I got into this trade at a great price by watching the lower timeframe charts. There is a method to all this madness, I promise lol It's turned out to be literally two pips draw-down minus the spread thus far although I'm not entirely convinced to place my stop at B/E yet and so it's being lowered...
That one just closed at a loss of 18 pips. I'm still looking for decent price action on the lowers for entry on it considering that we're towards the top of where I would consider placing an order. I'll be staying up late to watch the lowers as well to note if price starts to gain a little momentum to the downside or if these just break to the top, which does indeed happen occasionally.

P.S. I have a feeling I'm about to be buggered by the hourly close lol It's looking like it just grazed my SL, I think, which is my fault completely though. Regardless, I'll be entering again on the break if it doesn't de-validate itself.
I dream, therefore I become.
  • #1,499
  • Jun 29, 2010 9:45am Jun 29, 2010 9:45am
Quoting mike w
That one just closed at a loss of 18 pips. I'm still looking for decent price action on the lowers for entry on it considering that we're towards the top of where I would consider placing an order. I'll be staying up late to watch the lowers as well to note if price starts to gain a little momentum to the downside or if these just break to the top, which does indeed happen occasionally.

P.S. I have a feeling I'm about to be buggered by the hourly close lol It's looking like it just grazed my SL, I think, which is my fault completely though. Regardless,...
Well, The gbp/chf trade closed last night for a profit of 22 pips when I factor in the loss from the weako management, which still isn't bad at all. It went straight to the TP area at 1.6360. I doubt there will really be much to trade today as there were some hefty moves last night across the board.
I dream, therefore I become.
  • #1,500
  • Jun 29, 2010 9:55am Jun 29, 2010 9:55am
Here's a nice setup to work with jsut about always. Here's the hourly bearish bar followed by the bearish 5 minute action. The 5 minute action showed up a little later than I thought it would but these types of things always work that way.
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I dream, therefore I become.
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