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  • #3,001
  • Nov 29, 2010 10:38am Nov 29, 2010 10:38am
Only 2 trades today:

1. EU - PA - was looking for an opportunity to short EU and pullback to 1.3300 PPZ with fib confluence and then a 15min BEOB was an easy setup to get into in the direction of the trend. I took profit @ 1.3065 which is a monthly PPZ area. +6.96R

2. UJ - PA - breakout and pullback to daily PPZ and 4HR pin - got in on retrace to 80, SL @ BE.

Total for today +6.96R
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  • #3,002
  • Nov 29, 2010 11:01am Nov 29, 2010 11:01am
It wasn't very clear from my previous post, but what I was essentially looking at on EU was the fact price had closed below the daily PPZ on Friday...i.e. a breakout. Therefore I was looking for a retrace back to 1.33 and for price to test it as resistance. I could have taken a touch trade but really wanted to get a smaller stop...hence scrolling down the TF's to find some PA.
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  • #3,003
  • Nov 29, 2010 12:13pm Nov 29, 2010 12:13pm
LJ, you've catched almost bottom on EUR/USD. I also shorted this 15 min BEEB, but exited too early, only with 2,3 R.

Now i added more pairs to monitor. Do you switch profiles in MT for every pair set? And how you manage trades in this way , if one setup is from one profile and another trade from other profile, etc?

I've installed 3 MT, and run them in different screens, so i can monitor 12 x 3 = 36 instruments. But it's too complicated for me for now:-)

Thanks man for so clear trading.
Per aspera ad astra
  • #3,004
  • Nov 29, 2010 12:44pm Nov 29, 2010 12:44pm
Quoting Ihor
LJ, you've catched almost bottom on EUR/USD. I also shorted this 15 min BEEB, but exited too early, only with 2,3 R.

Now i added more pairs to monitor. Do you switch profiles in MT for every pair set? And how you manage trades in this way , if one setup is from one profile and another trade from other profile, etc?

I've installed 3 MT, and run them in different screens, so i can monitor 12 x 3 = 36 instruments. But it's too complicated for me for now:-)

Thanks man for so clear trading.
Yep I exited at a temporary bottom...it was an obvious TP for me due to the strength and confluence at this zone. Why did you exit earlier...there was nothing really on the charts to give reason to exit this trade before the next PPZ?

I only have 2 profiles for my FX pairs. One profile contains 12 pairs (AU,EU,GU,UB,AJ,EJ,GJ,CJ,ECHF,UCHF.GCHF,UJ) which is my main profile and then I have one for some minor pairs (EG, ANZD, NU, GCAD,ECAD,ACAD,GAUD,EAUD, Silver) .

If there is something of interest or if price is approaching an area of interest on the minor profile I'll bring it onto the major profile so I can watch it otherwise I just check the minior profile once an hour and if I'm busy with lots of setups./trades on the majors I won't even check it that often.

Lastly I have a seperate small monitor which constantly displays Gold, EP, YM and CL.

36 instruments is a lot to watch and focus on, personally I couldn't focus on that many pairs intraday. I focus mainly on USD, JPY and CHF pairs intraday and by watching the all day long every day I get to know these instruments very well and how they move which I think is pretty important in intraday trading.
  • #3,005
  • Nov 30, 2010 11:12am Nov 30, 2010 11:12am
2 trades today:

1. ECAD - similar setup to yesterday's trade on EU - breakout on daily TF (look where it closed compared to previous closes) and then a pullback and 5min pin. I took profit @ 1.3280 daily PPZ prior to CAD GDP data +4.5R

2. EJ - break of weekly BEOB (I actually missed the entry I wanted on a pullback to PPZ yesterday) with SL above yesterdays high , took profit @ 108.80 + 0.85R

UJ trade fomr yesterday was a BE trade, thus total for today was +5.35R

I missed a good UCHF touch trade setup today.
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  • #3,006
  • Nov 30, 2010 1:22pm Nov 30, 2010 1:22pm
Does anyone know where I can find a broker that offers USD Index (demo only for charting purposes) as the one I used to use doesn't offer it for their demo account anymore?
  • #3,007
  • Nov 30, 2010 2:00pm Nov 30, 2010 2:00pm
Quoting lovejoy80
Does anyone know where I can find a broker that offers USD Index (demo only for charting purposes) as the one I used to use doesn't offer it for their demo account anymore?
Hi LJ! Have a look here http://www.forexfactory.com/showthread.php?t=41058 post 5...but it was in 2007
...or here http://www.forexfactory.com/showthread.php?t=98054 post 4
  • #3,008
  • Nov 30, 2010 2:07pm Nov 30, 2010 2:07pm
Quoting lovejoy80
Does anyone know where I can find a broker that offers USD Index (demo only for charting purposes) as the one I used to use doesn't offer it for their demo account anymore?
http://www.brocompany.com/trading-pl...-trader/?faces

Today it worked)
Per aspera ad astra
  • #3,009
  • Nov 30, 2010 2:13pm Nov 30, 2010 2:13pm
Quoting lovejoy80
Does anyone know where I can find a broker that offers USD Index (demo only for charting purposes) as the one I used to use doesn't offer it for their demo account anymore?
Admiralmarkets do usdindex too
  • #3,010
  • Nov 30, 2010 2:50pm Nov 30, 2010 2:50pm
Lovejoy, this thread is amazing. i have real admiration for the way you trade - you must have worked hard to be able to feel the flows of the markets the way you do.

i hope you won't mind me posting some charts in your thread from my journal here. i'm just becoming consistent as a trader and i mostly trade retraces of PA off TL's and SR. Trading retraces and taking quick profits most of the time was the turning point for me and as i get nervous if i am in a trade for too long. I realise my exits must improve if i'm to make returns anywhere near yours but for now i'm nailing the entries.

looking forward to reading the whole thread though i must admit it is a bit painful to see someone make the same amount daily as my overall monthly target!

In the touch trade below i have exited 2/3's of the position and left the rest on incase it turns into a swing trade - did you see this setup? what are your thoughts?

Please keep posting.
Sean.
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  • #3,011
  • Nov 30, 2010 3:07pm Nov 30, 2010 3:07pm
Quoting Majestic12
Lovejoy, this thread is amazing. i have real admiration for the way you trade - you must have worked hard to be able to feel the flows of the markets the way you do.

i hope you won't mind me posting some charts in your thread from my journal here. i'm just becoming consistent as a trader and i mostly trade retraces of PA off TL's and SR. Trading retraces and taking quick profits most of the time was the turning point for me and as i get nervous if i am in a trade for too long. I realise my exits must improve if i'm to make returns anywhere near...
Hi Sean,

Glad you find the thread useful. Yes, it's take a lot of chart watching to be able to feel the flow of the market...you can learn the technical side of setups, entries and exits but to really move to the next level it comes from lots and lots of chart watching day after day IMO.

NU is not a pair trade that frequently to be honest and the area I'm waiting for is the PPZ +61 fib confluence. Saying that I'm cautious about going long on USD and JPY pairs at the moment due to the obvious strong trend and extreme bearish sentiment in the market. If things calm down then I'd consider a long at the area mentioned.

Nothing wrong with your setup IMO...and I definitely would have taken some profit like you did quickly because of the strong down trend
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  • #3,012
  • Nov 30, 2010 3:10pm Nov 30, 2010 3:10pm
Quoting ale73a
Hi LJ! Have a look here http://www.forexfactory.com/showthread.php?t=41058 post 5...but it was in 2007
...or here http://www.forexfactory.com/showthread.php?t=98054 post 4
Thanks all for the info
  • #3,013
  • Nov 30, 2010 10:23pm Nov 30, 2010 10:23pm
Quoting lovejoy80
Does anyone know where I can find a broker that offers USD Index (demo only for charting purposes) as the one I used to use doesn't offer it for their demo account anymore?
Here mate. I'm using USDX heavily as well. You nd to install a new MT4, but well worth the little trouble. Free anyway.

Hope this helps.

Three steps.
Firstly, putting dollar Index into MT4 server
Add dollar Index into the server of MT4 software and the address is “mt.forexua.com:443”. Through a new setting for MT4 server, we can get new resources.
Secondly, registering a new simulated account
We need to open a new simulated account. The new simulated account uses dollar index server and the data of dollar index can be transmitted continuously on the chart of the new account.
Thirdly, transferring dollar index out
Because the MT4 server was modified, we can see dollar index. Therefore, real account can not use this method.
Want to know more information of forex and use MT4.

------

I am really enjoying your journal, esp given that our frame work is similar, but you're more experienced in it's implementation. =)
One Mind, Any Market
  • #3,014
  • Dec 1, 2010 3:26am Dec 1, 2010 3:26am
Quoting lovejoy80
2 trades today:

1. ECAD - similar setup to yesterday's trade on EU - breakout on daily TF (look where it closed compared to previous closes) and then a pullback and 5min pin. I took profit @ 1.3280 daily PPZ prior to CAD GDP data +4.5R

2. EJ - break of weekly BEOB (I actually missed the entry I wanted on a pullback to PPZ yesterday) with SL above yesterdays high , took profit @ 108.80 + 0.85R

UJ trade fomr yesterday was a BE trade, thus total for today was +5.35R

I missed a good UCHF touch trade setup today.
I got it with a 11 pip SL, and than added one more on BRN with an 8 pip SL.
.
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  • #3,015
  • Dec 1, 2010 11:06am Dec 1, 2010 11:06am
Today's trades:

1. GCHF - daily pin - out at BE

2. EU - PA - I went long ona 30min BUOB during Asia. EU was at a weekly PPZ and once the eurozone news had settled down the market had a high chance of a retracement so I stayed up waiting for a signla and the BUOB with divergence was it. My SL went below yesterdays low and I took profit at the daily PPZ+50% fib confluence @1.3130 +2.3R

3. EU - touch trade - I reversed the above trade for a short. EU, GU, AU and Uc had all hit resistance at the same time as YM,EP, Oil and having been going up all morning there was a decent chance US would reverse this move temporarily. I don't see price going to test yesterdays lows for the moment so took profit @ 1.3060 +2.8R

4. GU - PA - 1HR BEOB, got in at the retrace to 1.5600 - took profit @ 1.5550 +2R

5. UC -touch trade +PA - daily ppz plus fibs confluence and then a 1hr pin. Moved SL to net BE on both and got stopped out - BE

6. EG - PA - 1HR BUOB - came very close to getting stopped out on this - I entered on retrace to 0.84 and SL is now at BE

+7.1R for the day.
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  • #3,016
  • Dec 1, 2010 12:02pm Dec 1, 2010 12:02pm
Quoting lovejoy80
Today's trades:

1. GCHF - daily pin - out at BE

2. EU - PA - I went long ona...
I forgot one!

GJ - touch trade - took profit at FTA on this...the market seemed pretty bullish to me...plenty of good data in Asia and this morniing and lots of short covering was due after the extensive moves over the last few days hence why I didnt; give hardly any space for the usd and jpy shorts I took today.

+ 1.5R ...revised daily total +8.6R
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  • #3,017
  • Dec 2, 2010 2:25pm Dec 2, 2010 2:25pm
Setup from yesterday. Still holding.
2-day Pin bar, or Railroad tracks at nice level with Fib confluence.

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Per aspera ad astra
  • #3,018
  • Dec 3, 2010 2:53am Dec 3, 2010 2:53am
Quoting Ihor
Setup from yesterday. Still holding.
2-day Pin bar, or Railroad tracks at nice level with Fib confluence.

Attachment
nice, certainly not a pair I watch lol.

I was busy with other stuff yesterday so only took one trade which I'm still in...EJ long from 110 - a retrace of the daily BUOB / 2 day pin.
  • #3,019
  • Dec 3, 2010 5:28am Dec 3, 2010 5:28am
Quoting lovejoy80
nice, certainly not a pair I watch lol.

I was busy with other stuff yesterday so only took one trade which I'm still in...EJ long from 110 - a retrace of the daily BUOB / 2 day pin.
I'm also in EJ, bought 15 min pin on 110 level. Exited 2/3 position already.
Per aspera ad astra
  • #3,020
  • Dec 3, 2010 6:19am Dec 3, 2010 6:19am
nice! Mine was a pending order that got whilst I was asleep.

This was a nice setup from this moring that I'm in.
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