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  • #3,041
  • Dec 8, 2010 7:15am Dec 8, 2010 7:15am
Quoting lovejoy80
USDX is at some resistance at the moment...if it overcomes this then a retest of recent high is on the cards. UJ has some resistance at 84 but I'm holding onto my 2 longs for the time being.

I'm also short AU from the daily BEOB. I thought about staying up and waiting to get a discounted entry with a small SL on a retest of 0.9850 as resistance after price broke through this area yesterday but I decided sleep was more important lol! My overall TP should be clear.
Hey LJ, love your thread, stumbled into your thread via the James thread and I must say I like it Hope if you don't mind a newbie like me posting some charts here once in a while. About your Ozzie trade, I got in on the 4H-TF via a 4H-BEOB, because of its weak close I entered on a pullback and entered via a 10m-PB @ the previous 4H-bar low. Sold gold simultaneously also via a strong 4H-BEOB which engulfed multiple bars. Entry on the 1H-TF via a beautifull PB right off the low of one of the engulfed 4H-bars.

May the force be with you.
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Pipcrawler
  • #3,042
  • Dec 8, 2010 9:17am Dec 8, 2010 9:17am
Quoting xmzhang
Hey LJ, love your thread, stumbled into your thread via the James thread and I must say I like it Hope if you don't mind a newbie like me posting some charts here once in a while. About your Ozzie trade, I got in on the 4H-TF via a 4H-BEOB, because of its weak close I entered on a pullback and entered via a 10m-PB @ the previous 4H-bar low. Sold gold simultaneously also via a strong 4H-BEOB which engulfed multiple bars. Entry on the 1H-TF via a beautifull PB right off the low of one of the engulfed 4H-bars.

May the force be with you.
Nicely done.

I would have taken those PA setups yesterday if I was watching the markets closely too. Gold in particuar has some good year end profit taking potential.

By the way you do realise it was an IB and not a pin on the 1HR Gold TF don't you.
  • #3,043
  • Dec 8, 2010 9:25am Dec 8, 2010 9:25am
Here is another example of getting into daily PA at a huge discount. As I've mentioned I'm not actively looking at the markets at the moment but just browsed through my charts and this is eomthng I would take every time.

Daily BEOB on Silver wait for the retrace to previous high as resistance....I dont like taking pure touches on what is essentially a breakout and retest so I'd scroll down the TF's to look for suitable PA as confirmation...the 30min chart presented a pin bar which would have been a good enough signal to short for me.

The daily chart shows the obvious initial TP.
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  • #3,044
  • Dec 9, 2010 2:23am Dec 9, 2010 2:23am
I took only 2 trades yesterday, the UJ daily BUOB and the AU daily BEOB.

I'm stil in the UJ trade (together with the 1HR BUOB trade from Tuesday) and SL has been moved up somewhat to decrease risk.

AU, I was targetting 0.9700 but price was stalling too much for me and the markets are looking pretty slow and choppy so decided to bank profit on this one once it rebounded of 0.9750 support area @ 0.9765, thus +0.32R achieved.

I doubt I'll be trading now until middle of next week (I'm away Friday to Monday in any case).
  • #3,045
  • Dec 9, 2010 3:12pm Dec 9, 2010 3:12pm
A few trades today:

1. EJ - 4HR BEOB - too profit at FTA as market is pretty chopppy and lacking momentum + 0.59R

2. AU - BEOB - I took a loss on this as I wanted to go long NU and being long NU and short AU is n ot that clever lol! -.18R

3. Long NU 1HR BUOB - this location is proving pretty strong for NU.

4. Short UCHF - This was based on my Alpari feed...got out for -0.1R when the opposing 4HR Fxpri pin formed.

5. Closed my UJ trades for earlier in the weak @ 83.65 ...w2as getting bored with UJ and am away for 4-5 days now so decided to bank profit...combined total across both trades was +4.4R

Day total +4.71R

The market is very choppy and rangy IMO at the moment and is going through long period of low momentum followede by impuslive moves...when I return from my short break I'll be trading very cautiously and will stop trading for the year (and start partying hard!) on 17th December
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  • #3,046
  • Dec 10, 2010 12:37am Dec 10, 2010 12:37am
Quoting lovejoy80
A few trades today:

1. EJ - 4HR BEOB - too profit at FTA as market is pretty chopppy and lacking momentum + 0.59R

2. AU - BEOB - I took a loss on this as I wanted to go long NU and being long NU and short AU is n ot that clever lol! -.18R

3. Long NU 1HR BUOB - this location is proving pretty strong for NU.

4. Short UCHF - This was based on my Alpari feed...got out for -0.1R when the opposing 4HR Fxpri pin formed.

5. Closed my UJ trades for earlier in the weak @ 83.65 ...w2as getting bored with UJ and am away for 4-5 days now so decided...
Day total +4.71R

LJ does +4.71R mean +4.71 %?
  • #3,047
  • Dec 10, 2010 1:24am Dec 10, 2010 1:24am
Quoting stewrigh
Day total +4.71R

LJ does +4.71R mean +4.71 %?
It means 4.71 x amount risked per trade. I risk between 1%-2% for each trade, but yeah if I risked 1% per trade then this would be 4.71%
  • #3,048
  • Dec 10, 2010 2:02am Dec 10, 2010 2:02am
Right that's me done for the week (my NU trade is still open and TP set). But apart from that I've no open trades. It's been a slow week as I've not been watching the markets too much and am being cautious too.

Weekly results:

6 trades, 4 winners +7.58R

Also took a go at this comp...woke up this morning to find my final 'scalp' completed. I'd expect there to be plenty of winners but hopefully it'll be some nice pocket money

http://www.worldspreads.com/en/Sprea...-in-a-row.aspx
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  • #3,049
  • Dec 10, 2010 5:37am Dec 10, 2010 5:37am
Mark, great job with WS. So, you have 10 wind in a row ?
I wish you to get a prize!
Per aspera ad astra
  • #3,050
  • Dec 10, 2010 5:51am Dec 10, 2010 5:51am
Quoting Ihor
Mark, great job with WS. So, you have 10 wind in a row ?
I wish you to get a prize!
Yep I've done my 10 in a row. Just have to wait and see how many winners there are to share the £100k prize...I reckon there will be a fair few winners...but hopefully the share will be big enough to have made it worthwhile.
  • #3,051
  • Dec 10, 2010 6:01am Dec 10, 2010 6:01am
Quoting lovejoy80
USDX is at some resistance at the moment...if it overcomes this then a retest of recent high is on the cards. UJ has some resistance at 84 but I'm holding onto my 2 longs for the time being.

I'm also short AU from the daily BEOB. I thought about staying up and waiting to get a discounted entry with a small SL on a retest of 0.9850 as resistance after price broke through this area yesterday but I decided sleep was more important lol! My overall TP should be clear.
hi,lovejoy80,what's the broker in the picture that show the usdx???can you share a link to downlond???
  • #3,052
  • Dec 10, 2010 7:10am Dec 10, 2010 7:10am
Quoting lucas101
hi,lovejoy80,what's the broker in the picture that show the usdx???can you share a link to downlond???
It's forex ltd ... http://forexltd.co.uk/trade/mt4
  • #3,053
  • Dec 10, 2010 8:52am Dec 10, 2010 8:52am
Quoting lovejoy80
It's forex ltd ... http://forexltd.co.uk/trade/mt4
thanks,lovejoy80,have a nice weekend......
  • #3,054
  • Dec 13, 2010 2:59pm Dec 13, 2010 2:59pm
Quoting lovejoy80
A few trades today:

1. EJ - 4HR BEOB - too profit at FTA as market is pretty chopppy and lacking momentum + 0.59R

2. AU - BEOB - I took a loss on this as I wanted to go long NU and being long NU and short AU is n ot that clever lol! -.18R

3. Long NU 1HR BUOB - this location is proving pretty strong for NU.

4. Short UCHF - This was based on my Alpari feed...got out for -0.1R when the opposing 4HR Fxpri pin formed.

5. Closed my UJ trades for earlier in the weak @ 83.65 ...w2as getting bored with UJ and am away for 4-5 days now so decided...
I came back from my long weekend to see NU had hit my TP...I started risking 5% on all my trades since towards the end of last week and will continue to do so until I stop for xmas...I'm playing with some very nice profits and am picking trades pretty well (I've had a very high win rate for a while now) and thus I'm trying to ramp things up a bit. It will certainly be more of a pyschological test than anything (the NU trade was easy as I was away from my charts from Friday until today - all I set was an alert at my SL and TP levels so I could check with my broker whether my trade had closes when it should have or not i.e. to check no slippage had occurred)

Todays closed trades +1.42R
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  • #3,055
  • Dec 15, 2010 6:31am Dec 15, 2010 6:31am
Just finished EURGBP trade. 2R for today.

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Per aspera ad astra
  • #3,056
  • Dec 15, 2010 6:48am Dec 15, 2010 6:48am
Quoting Ihor
Just finished EURGBP trade. 2R for today.

Attachment

Attachment

Very nice

Must admit if I had been looking at this pair closely I would have bought at around 0.8450 and then again after the 1HR BUOB.

I didn't look at charts yesterday as was busy with other stuff...but rode the daily EU pin down to 1.3303 and then reversed for a long.
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  • #3,057
  • Dec 17, 2010 11:50am Dec 17, 2010 11:50am
Have only watched charts briefly this week and missed all the good moves...but taken some CT moves for some quick pips. Will update properly when all my positions are either closed or I'm finished for the day / week, but here are this weeks' trades so far (not including the ones already posted i.e. NU on Monday and EU daily pin trade closed trade on Wednesday).
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  • #3,058
  • Dec 17, 2010 3:43pm Dec 17, 2010 3:43pm
Quoting lovejoy80
Have only watched charts briefly this week and missed all the good moves...but taken some CT moves for some quick pips. Will update properly when all my positions are either closed or I'm finished for the day / week, but here are this weeks' trades so far (not including the ones already posted i.e. NU on Monday and EU daily pin trade closed trade on Wednesday).
Decided to just close the rest of my trades so no traders are left open over the weekend.

Will udpdate with weekly results over the weekend
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  • #3,059
  • Dec 18, 2010 4:42am Dec 18, 2010 4:42am
Totals for this week:

1. NU - touch trade +2.65R
2. EU - various touch trades at daily PPZ's - +7.92R
3. ECHF - touch trade + 4HR PA + 0.45R
4. AU - touch trade and 4HR pin + 0.85R
5. GCHF - 1hr pin +1.18R

Total gain for the week +13.05R
  • #3,060
  • Dec 18, 2010 10:32am Dec 18, 2010 10:32am
Hi LJ

Learned a lot from your journal, thanks.

Can I ask where your SL for the touch trade was on the E/CHF trade? Looking at your chart, it would appear the entry on PA was a slight loss, but the touch trade was closed for a profit of ~0.5R.


Paul
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