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MW's trading journal

  • #1,861
  • Aug 25, 2010 10:08am Aug 25, 2010 10:08am
Quoting mike w
Nope, I've left for lunch and seen some trades become runners while others become losses. It's all the same IMO.
Until today, I thought it mattered. It sounds logical, people going out for lunch. But then again, where would that leave the trading assistants? Don't they take care of food and beverages for the traders? I guess not only doesn't money sleep, it also doesn't eat.

Nice eurotunnel short btw. It's coming along nicely. Am currently short aussie, fiber, long loonie on my H4 demo. There were some nice pins on my Alpari feed a few hours ago. Looking forward to see where these might go.
Attached Image (click to enlarge)
Click to Enlarge Name: h4.jpg Size: 281 KB
It's not about how much you make, it's about how much you don't lose.
  • #1,862
  • Aug 25, 2010 10:46pm Aug 25, 2010 10:46pm
How do I get an image of my chart to post on here?
  • #1,863
  • Aug 25, 2010 11:27pm Aug 25, 2010 11:27pm
Quoting bogden211
How do I get an image of my chart to post on here?
Right click on the area of your chart and a menu will come up. Go down to save as picture, save it, and then when you're ready to post up your message on here, scroll down a bit and there is a box that says Manage Attachments.

Browse for your attachment (Chart) and then click the upload button after you've found it in your documents or wherever you saved it. When you submit your reply to the board, it will be attached.

If not, then shit. hahah jokin! Let me know if that helped out my man
I dream, therefore I become.
  • #1,864
  • Aug 26, 2010 8:43am Aug 26, 2010 8:43am
Quoting mike w
And heeerrreee we go! Eur/gbp short, entry at 82.00 with a TP at 81.57. Simple to work when you know what to look for. 1 trade means nothing, it's the thousands that matter.
TP was reached last night and here are two new ones from today along with the gbp/chf setup from last night. I didn't post about it at the time of the trade though, because I wanted to get back to sleep.

The blue lines are my TP points.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: sold gbopjpy.gif Size: 21 KB
Click to Enlarge Name: sold eurjpy.gif Size: 20 KB
I dream, therefore I become.
  • #1,865
  • Aug 26, 2010 8:45am Aug 26, 2010 8:45am
Quoting mike w
TP was reached last night and here are two new ones from today along with the gbp/chf setup from last night. I didn't post about it at the time of the trade though, because I wanted to get back to sleep.

The blue lines are my TP points.
I notice all the time that price will make it to the area of the first lows and then revert. All the time I see it.
I dream, therefore I become.
  • #1,866
  • Aug 26, 2010 10:04am Aug 26, 2010 10:04am
Quoting mike w
I notice all the time that price will make it to the area of the first lows and then revert. All the time I see it.
Interesting you mentioned this. I thought you mentioned earlier you based your TPs on those dynamic Vegas fib lines, or has my sleep deprivation finally caught up?

Btw, do you take full profit at those blue lines, or partial? I mean, you're trading with the trend, so assuming trend continuation, your shorts should make a new lower low and your longs a new higher high, right? Did you ever do any research as to which method of taking profit would have been more profitable for your style of trading?

B.
It's not about how much you make, it's about how much you don't lose.
  • #1,867
  • Aug 26, 2010 10:51am Aug 26, 2010 10:51am
Quoting Dhb
Interesting you mentioned this. I thought you mentioned earlier you based your TPs on those dynamic Vegas fib lines, or has my sleep deprivation finally caught up?

Btw, do you take full profit at those blue lines, or partial? I mean, you're trading with the trend, so assuming trend continuation, your shorts should make a new lower low and your longs a new higher high, right? Did you ever do any research as to which method of taking profit would have been more profitable for your style of trading?

B.
I do, although I am taking this into account more and more lately.

I'll be taking full profit at these lines. It's funny because up until this year, through testing and actual trading, letting it ride would have been more profitable - That's on 4+ years of testing. Markets are changing again, I guess. That's why every one that I've set up to run has pretty much gotten busted.

Sometimes, I'll let them run if we've been pushing through S/R recently and there are no highs/lows to get through. That's when the real gainers happen.
I dream, therefore I become.
  • #1,868
  • Aug 26, 2010 10:55am Aug 26, 2010 10:55am
Quoting mike w
I do, although I am taking this into account more and more lately.

I'll be taking full profit at these lines. It's funny because up until this year, through testing and actual trading, letting it ride would have been more profitable - That's on 4+ years of testing. Markets are changing again, I guess. That's why every one that I've set up to run has pretty much gotten busted.

Sometimes, I'll let them run if we've been pushing through S/R recently and there are no highs/lows to get through. That's when the real gainers happen.
here's an example of price attacking the support level on the eur/jpy. There really are no lows to base the trade off of because it is the low. (The red arrow marks the trade)

Those are ones that become runners. The ones that build up momentum in that range and then crush through it.
Attached Image (click to enlarge)
Click to Enlarge Name: heres an example.gif Size: 17 KB
I dream, therefore I become.
  • #1,869
  • Aug 26, 2010 10:58am Aug 26, 2010 10:58am
Hey brother Mike! Do you have Forex Tester or any type of program like it?

K.I.S.S.
  • #1,870
  • Aug 26, 2010 11:06am Aug 26, 2010 11:06am
Quoting KissFan
Hey brother Mike! Do you have Forex Tester or any type of program like it?

K.I.S.S.
My man Roger, how's it goin?! And yeah, I bought Forex Tester 2 a while back for 150. There's an upgrade you can get for it too, but I don't really see the point in that.

Disclaimer - This post is not an endorsement for FT2. Don't ban me bro! lol
I dream, therefore I become.
  • #1,871
  • Aug 26, 2010 11:13am Aug 26, 2010 11:13am
Quoting mike w
My man Roger, how's it goin?! And yeah, I bought Forex Tester 2 a while back for 150. There's an upgrade you can get for it too, but I don't really see the point in that.

Disclaimer - This post is not an endorsement for FT2. Don't ban me bro! lol
O sorry bout that I'll PM you further then.

Probably should have done that in the first place. No harm meant here mods.

K.I.S.S.
  • #1,872
  • Aug 26, 2010 11:14am Aug 26, 2010 11:14am
Quoting KissFan
O sorry bout that I'll PM you further then.

Probably should have done that in the first place. No harm meant here mods.

K.I.S.S.
No worries brother! lol
I dream, therefore I become.
  • #1,873
  • Aug 26, 2010 11:50am Aug 26, 2010 11:50am
This a good pin bar to go short on or what?? Or did the picture not even work? haha
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd.gif Size: 17 KB
  • #1,874
  • Aug 26, 2010 1:06pm Aug 26, 2010 1:06pm
Setups across the board right now.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eight twentysix audjpy.gif Size: 22 KB
Click to Enlarge Name: eight twentysix aussie.gif Size: 24 KB
Click to Enlarge Name: eight twentysix gbp.gif Size: 23 KB
Click to Enlarge Name: eight twentysix loon.gif Size: 21 KB
I dream, therefore I become.
  • #1,875
  • Aug 26, 2010 1:09pm Aug 26, 2010 1:09pm
Quoting bogden211
This a good pin bar to go short on or what?? Or did the picture not even work? haha
Zoom out your charts a bit more my man, when they are bunched up like that, it's difficult to see anything. IMO, the nzd/usd is decently primed at the moment, but when you have your charts zoomed in like that, you can't really see the big picture. Let's get together before you go back to RMU and I'll try to show you some things to work with too.

That is definitely a pin bar though which is tradeable as it is sitting on a price flip. Nice work brother!

The pic sent, just resend it zoomed out one more click from where it was at. And could somebody please tell Bogdiggity how much you DONT need all those indicators!? He won't listen to me!! lol
Attached Image (click to enlarge)
Click to Enlarge Name: bogdiggity.gif Size: 22 KB
I dream, therefore I become.
  • #1,876
  • Aug 26, 2010 1:33pm Aug 26, 2010 1:33pm
Quoting mike w
Setups across the board right now.
I have a feeling that today is going to close up as the best day that I've had in a while. Beautiful.

I'm off now that I have everything set up, have a great day ladies and gents!
I dream, therefore I become.
  • #1,877
  • Aug 26, 2010 2:52pm Aug 26, 2010 2:52pm
Yea that was my bad. haha I was just hoping the picture got posted on my reply. Now I'm startin to get the hang of everything. I'll get rid of the indicators. haha It's just a learning process.
  • #1,878
  • Aug 26, 2010 2:56pm Aug 26, 2010 2:56pm
Quoting bogden211
Yea that was my bad. haha I was just hoping the picture got posted on my reply. Now I'm startin to get the hang of everything. I'll get rid of the indicators. haha It's just a learning process.
haha That's it too brother. It really is simple stuff, the only people that don't make money are the ones who overcomplicate everything...which just so happens to be a lot lol
I dream, therefore I become.
  • #1,879
  • Aug 26, 2010 3:36pm Aug 26, 2010 3:36pm
Quoting bogden211
Yea that was my bad. haha I was just hoping the picture got posted on my reply. Now I'm startin to get the hang of everything. I'll get rid of the indicators. haha It's just a learning process.
Don't feel bad. I still look at rsi on daily but as you know the candles tell you everything. They are a current snapshot of trader sentiment. It really is as simple as Mike says and he is dead on about targets having to be adjusted to market conditions. I like to look to the left on the chart and see where the next traffic area is for my tp.
  • #1,880
  • Aug 26, 2010 9:48pm Aug 26, 2010 9:48pm
Yea sometimes I like to look at the indicators after I make a mental prediction just to see if they are pointing in the same direction I think the pattern will go. That's just due to me being nothing but a novice at this. It just takes time and I appreciate all the tips and advice everyone gives, thanks!!
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