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The IGROK files - Adventures of a rookie using the Igrok method

  • #281
  • Aug 19, 2010 5:09am Aug 19, 2010 5:09am
Quoting belekas
Time to ask. Do you trade dummy or real account and what P/L you currently hold? Asking cuz you have been making some nice pips lately and learning really well.
Hi Bel,

Thanks for the comment, glad you think I'm doing well .

At the moment this is dummy, the aim is to get at least another 4-8 weeks of consistant results before moving back to my live account. I've sent you a PM regarding the other stuff.

Peace
  • #282
  • Aug 20, 2010 6:52am Aug 20, 2010 6:52am
Greetings all,

Went for a long 18.4 on UJ. I see strong support around 85.00 level and below, and price was rejected strongly at that zone during yesterday's session. It looks to me like buyers will make an appearance soon.

In any case, only 48% of the ADR has been completed, and my SL is 15 pips/1.75% risked, so I would assume a strong chance of recovering my losses if price moves against me. It's also worth noting that only 55% of the AWR has been completed, so a chance that a lot of movement could occur later on. We shall see...

Attached Image (click to enlarge)
Click to Enlarge Name: 20 aug uj 18.4.gif Size: 20 KB
  • #283
  • Aug 21, 2010 7:53am Aug 21, 2010 7:53am
Greetings all,

That time to review my week again. Although not hitting the heady heights of recent weeks I still managed to get through this week in profit, and that would make it week 6. I've not been able to do any decent TA or charting this week, so I'm very happy with the results.

First trade of the week was a loser, -.175%, tried to trade on what I thought was a comb type formation, but obviously proved wrong. Thanks to pipdreamer and Bel for clarifying the comb formation.

Second trade was a winner, but I failed to take full profit on it, so +0.6% gained. Third trade was a 20.6 on Cable, SL hit for -2.5%, but reverse order gained +9%, so net gain of +6.5%, and my 'fluke' KO trade of the week.

Overall performance is +5.35% gain on initial account size for the week. I still have open UJ 18.4 long trade from Friday. Those of you who follow the Igrok thread will know there's a potential diamond in the making, so it appears I may need to cash out at slightly less than I would've liked, as things are pointing to short trades for UJ as the most likely next step. The trade is currently around +30 pips/+3% up, but possible I'll be taking less than this depending on what happens during the Asian open.

With that I wish you all a great weekend, and good trades for next week.

Peace
  • #284
  • Aug 21, 2010 11:28am Aug 21, 2010 11:28am
Quoting niteshift02
Greetings all,

That time to review my week again. Although not hitting the heady heights of recent weeks I still managed to get through this week in profit, and that would make it week 6. I've not been able to do any decent TA or charting this week, so I'm very happy with the results.

First trade of the week was a loser, -.175%, tried to trade on what I thought was a comb type formation, but obviously proved wrong. Thanks to pipdreamer and Bel for clarifying the comb formation.

Second trade was a winner, but I failed to take full profit on...
Another good week then. Every week that you end in profit (even if only by the smallest margins) is something to be very happy about in my opinion.

Keep up the good work, I for one have enjoyed reading your thread so far Here's to another good one next week
Maybe money can't buy happiness, but it can give you freedom.
  • #285
  • Aug 22, 2010 6:59am Aug 22, 2010 6:59am
Quoting pipdreamer
Another good week then. Every week that you end in profit (even if only by the smallest margins) is something to be very happy about in my opinion.

Keep up the good work, I for one have enjoyed reading your thread so far Here's to another good one next week
Thanks pipdreamer, glad your enjoying the thread. You're absolutely right about being happy every week ending in profit, it means I'm doing something right

As you may know, Forex trading can be very high risk and a lot of people would love to have consistent results like this, that's why I'll never complain about even the smallest profit margin at the end of each week.

My next task is to port this consistency over to live trading, but I'm hoping that this will not prove to be too much different from what I do now.

Have a good week mate
  • #286
  • Aug 23, 2010 3:14am Aug 23, 2010 3:14am
Quoting niteshift02
Greetings all,

Went for a long 18.4 on UJ. I see strong support around 85.00 level and below, and price was rejected strongly at that zone during yesterday's session. It looks to me like buyers will make an appearance soon.

In any case, only 48% of the ADR has been completed, and my SL is 15 pips/1.75% risked, so I would assume a strong chance of recovering my losses if price moves against me. It's also worth noting that only 55% of the AWR has been completed, so a chance that a lot of movement could occur later on. We shall see......
Greetings my fellow Igrok traders,

Didn't take the full profit out of this one, that's the price you pay for going out Friday evening with no way to monitor the trade. So I didn't see the diamond or the upper TL that formed until after. Anyway, cashed out last night at +25 pips/+2.9% gain, so no complaints at having another winner.

I didn't take the short position from the upper TL which was on offer because I wanted a tighter SL, and secondly I wouldn't have been able to monitor the trade properly. But good trading to all you guys who did

Peace
  • #287
  • Aug 23, 2010 4:09am Aug 23, 2010 4:09am
Went for an early short 18.4 on EU. Recent mid-long downtrend seems strong, and the current ADR is only 36%, so I should be able to recover my losses if price moves against me.

SL is 20 pips/2% risked.

Attached Image (click to enlarge)
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  • #288
  • Aug 23, 2010 4:41am Aug 23, 2010 4:41am
I couldn't PM u. Please don't close your mind towards other method because there is another thread which has great philosophy towards trading. I hope u consider seriously... when u said looking for 1000+ pips gain. This thread really open my mind...

http://www.forexfactory.com/showthread.php?t=245149



"Hi James, you're right. I was talking for the benefit of those who didn't have short position open on Friday night. So from around the upper right TL a short position would be the logical one to open, provided there was no surprises during the Asian session open. Price has travelled about half way now, so unless it crashes through the lower TL, the long position would be next.

By the way, nice work with the +1000 pip trade, I've yet to experience such a great run. Now this is a question for everyone, what would you consider is the best method for keeping these types of runs going? Switch to 4hr, daily charts? How do you know when a retracement isn't a full trend reversal? What's the best signal that tells you it's time to get out?"
  • #289
  • Aug 23, 2010 5:04am Aug 23, 2010 5:04am
Quoting songbo
I couldn't PM u. Please don't close your mind towards other method because there is another thread which has great philosophy towards trading. I hope u consider seriously... when u said looking for 1000+ pips gain. This thread really open my mind...

http://www.forexfactory.com/showthread.php?t=245149



"Hi James, you're right. I was talking for the benefit of those who didn't have short position open on Friday night. So from around the upper right TL a short position would be the logical one to open, provided there was no surprises...
Hi Songbo,

Hope you're keeping well. My mind is always open to different ways to make money, and if I'm comfortable with it, it's all good. Thanks, I'll check it out
  • #290
  • Aug 24, 2010 3:49am Aug 24, 2010 3:49am
Quoting niteshift02
Went for an early short 18.4 on EU. Recent mid-long downtrend seems strong, and the current ADR is only 36%, so I should be able to recover my losses if price moves against me.

SL is 20 pips/2% risked.

Attachment
Greetings all,

Still in the trade with this one. This is how I see EU the moment:

Attached Image (click to enlarge)
Click to Enlarge Name: 23 aug eu 18.4.1.gif Size: 18 KB


Have some profit locked in, but I think I may want to run a tighter trailing stop. My target is the lower TL of the larger channel, but there is a possible bullish div forming on 1hr chart. We'll see how this goes.

Peace
  • #291
  • Aug 24, 2010 4:11am Aug 24, 2010 4:11am
Quoting niteshift02
Greetings all,

Still in the trade with this one. This is how I see EU the moment:

Attachment

Have some profit locked in, but I think I may want to run a tighter trailing stop. My target is the lower TL of the larger channel, but there is a possible bullish div forming on 1hr chart. We'll see how this goes.

Peace

Added to my position. Played another 18.4 short, SL 24 pips/2.4% risked. The way I see it is I'm in a virtual no loss situation. I have locked in profit from yesterday's trade, so even if price moves against me, I take profit, plus the new trade was taken when ADR is only 42%, so I should be able to recover losses on that trade from my reverse order if price moves against me. If the 1hr bullish div turns out to be valid and I have a long position on, it's no lose. I don't really want my reverse order to be triggered, let's just hope the trend is a stronger influence on price than the div

Attached Image (click to enlarge)
Click to Enlarge Name: 24 aug eu 18.4.gif Size: 20 KB
  • #292
  • Aug 24, 2010 10:11am Aug 24, 2010 10:11am
Quoting niteshift02
Added to my position. Played another 18.4 short, SL 24 pips/2.4% risked. The way I see it is I'm in a virtual no loss situation. I have locked in profit from yesterday's trade, so even if price moves against me, I take profit, plus the new trade was taken when ADR is only 42%, so I should be able to recover losses on that trade from my reverse order if price moves against me. If the 1hr bullish div turns out to be valid and I have a long position on, it's no lose. I don't really want my reverse order to be triggered, let's just hope the trend is...

Ouch, that US Home Sales report really put a spanner in the works:

Attached Image (click to enlarge)
Click to Enlarge Name: 24 aug eu 18.4.0.gif Size: 19 KB


The news caused a spike which took out my trade from yesterday for +50 pips/+5% gain, hit my SL for today's trade for -24 pips/2.4%, but I was able to recover +20 pips/+2%. Should have recovered more, had a trailing stop in place to allow my reverse order to breath and try and catch more pips, hoping EU would go above 1.2700, but my stop got hit first. Again, can't complain, profit is profit. So for these two trades I have gained +46 pips/+4.6%.

I added to yesterday's position in the hope that I could double my profit, but in the end I've gained only half of what I could've taken. The main lesson of today was to pay more attention to news events, and I should've known better than anyone else that US home sales were not going to be good. Anyway, good lesson learnt, if I were to do anything different, it would've been to have tighter stops in place before the news release.

Peace
  • #293
  • Aug 25, 2010 3:07am Aug 25, 2010 3:07am
Greetings all,

Trade of today for me is a 20.6. Basically did what Belekas did yesterday which was to use a daily fib level as support, and it looked like the support level of 61.8 was valid:

Attached Image (click to enlarge)
Click to Enlarge Name: 25 aug cable 20.6.0.gif Size: 20 KB


SL is currently 25 pips/2.5% risked. I'll be trying to reduce the SL as soon as reasonably possible.

Attached Image (click to enlarge)
Click to Enlarge Name: 25 aug cable 20.6.gif Size: 21 KB


Peace
  • #294
  • Aug 25, 2010 4:00am Aug 25, 2010 4:00am
Quoting niteshift02
Greetings all,

Trade of today for me is a 20.6. Basically did what Belekas did yesterday which was to use a daily fib level as support, and it looked like the support level of 61.8 was valid:

Attachment

SL is currently 25 pips/2.5% risked. I'll be trying to reduce the SL as soon as reasonably possible.

Attachment

Peace

SL hit for -15 pips/-1.5% loss. PA didn't move as I would've liked, and I had plenty of chances to get out. Never mind, on to the next one
  • #295
  • Aug 25, 2010 4:15am Aug 25, 2010 4:15am
Maybe should've seen this instead of staring at my trade balance going up and down:

Attached Image (click to enlarge)
Click to Enlarge Name: 25 aug cable.gif Size: 21 KB


Thanks FXChi for pointing that one out
  • #296
  • Aug 26, 2010 4:16am Aug 26, 2010 4:16am
Greetings all,

Went for a short sort of 20.6 on Swissy, medium and long term trend show as down, so odds look good

SL 34 pips/1.64% risked. Wish I had a better entry price and tighter stops, but never mind...I should plan better and well ahead next time.

Attached Image (click to enlarge)
Click to Enlarge Name: 26 aug swissy 20.6.gif Size: 18 KB
  • #297
  • Aug 26, 2010 5:03am Aug 26, 2010 5:03am
Quoting niteshift02
Greetings all,

Went for a short sort of 20.6 on Swissy, medium and long term trend show as down, so odds look good

SL 34 pips/1.64% risked. Wish I had a better entry price and tighter stops, but never mind...I should plan better and well ahead next time.

Attachment
Out at BE. Didn't like the PA, but my entry price to begin with didn't provide me with good value. If I had entered earlier at 10 pips or so away from the top of the daily range, this would've been a far better plan.

Peace
  • #298
  • Aug 26, 2010 5:52am Aug 26, 2010 5:52am
Interesting situation on EU, looks to me like a H&S pattern developing, although not exactly textbook in appearance. Placed a short entry, SL at 14 pips/1.4% risked.

Attached Image (click to enlarge)
Click to Enlarge Name: 26 aug cable 19.13.gif Size: 23 KB
  • #299
  • Aug 26, 2010 6:00am Aug 26, 2010 6:00am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Yeah buddy I like it.
"Wishful thinking dies hard." Igor T.
  • #300
  • Aug 26, 2010 6:15am Aug 26, 2010 6:15am
Quoting FxChi
Yeah buddy I like it.
Thanks Chi, good spot on your part. Let's hope it plays out as planned...
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