EUR/USD 5min - Trendlines and Pivots

+38 for the week, an extremely challenging week, but good to end the year with a nice profit.

http://i288.photobucket.com/albums/l...g?t=1292590580

http://i288.photobucket.com/albums/l...g?t=1292590627

hi, I like your trading style and its the same way i trade.most of the trend line break you took this week; i also did. I believe this is the best strategy ever and hardly gives me any loss, and macd divergence provides a stronger trade.keep on posting and i'll keep following,cheers

Good stuff, stick around and share your entries I am keen to learn. I agree it's an amazing strategy. I am a new trader and I can't believe I've been able to be this consistent. Can you share your approach to trend line breaks ?

Happy new year!

I am starting the year slowly, mainly reading (Trading in the Zone) and working on my trading plan. I have managed to grab about 30 pips today and yesterday but I plan to start in earnest next Tuesday. I am inspired by Rufus' journal here in the factory and his very professional, thorough approach. This year one of two things is going to happen

1) I become a successful, consistent trader, able to support myself with an income

2) I blow up my account and go back to the drawing board.

I am determined to work on my discipline and make sure the first outcome becomes a reality. Whenever I do badly it is because I lose discipline. I think i'm in a great position going forward though.

One idea I am looking at is only storing enough money for trading for that day in my brokers account so I won't be tempted to over trade after a series of losses.

Keeping an eye on this, Aussie has broken a big daily TL.

http://i288.photobucket.com/albums/l...f?t=1294739399

It's broken so I'm in short with a 10 pip stop.

Stopped.

Now long on the break of the upper TL, 10 pip stop

Stop at B/E and targeting S2.

+27 so roughly 17 up on the day, I'll stop there

Found it hard to resist this double top so I am in short at the 0.9850 level.

http://i288.photobucket.com/albums/l...f?t=1294757842

Decided just to take it out at S3 for a quick handful of pips.

Keeping an eye on this on the Cable

http://i288.photobucket.com/albums/l...f?t=1294828478

Short on the break of this lower TL. Very volatile due to the bond auction.

http://i288.photobucket.com/albums/l...f?t=1294830151

After hitting the open price my stop as at BE

Out BE and in short again at 1.2990

Just a bit too volatile so 0 pips on this trade.

Took -12 on cable. The signal was quite weak but was backed up with divergence. I am thinking a stop loss of 12 is not sufficient for this pair so I will stay away from it for now until I figure it out.

-10 on Aussie on a triangle break out, bounced off the daily open.

Well a fairly lousy week last week. My head wasn't really in it after the holiday.

So, first trade of the week is an Aussie short

http://i288.photobucket.com/albums/l...f?t=1295354514

Also short on the E/U 1.3384, stop at break even.

Stop at break even on the A/U lot.

Out B/E on both

Long time no see! Hi keep up the good work, you'll have a rocking trading year man.

Hi Kush, thanks for the well wishes.

I have decided to put my trading on hiatus. To give a reason for this, I don't see this as a serious long term proposition at my period in life. To give a little background, I finished university in July and worked for an investment bank over the summer. After that, I had some time and a bit of cash, and very low outgoings where I could explore a trading lifestyle for a while. I think I enjoyed some success, and certainly made some beer money along the way, and undoubtedly hammered out a reasonable trading plan.

However, with a smallish trading account I was never going to be able to support myself full time, and I also got offered a job beginning March in the Investment industry (not trading but client facing). After I was offered this I also found it difficult to give my trading the proper focus and discipline which I had late last year. I think there was the knowledge that I had a job to go to that was making me a little reckless. In my last week of trading I lost 50 pips. I found myself starting to blame market conditions, but of course, all the errors came from me. Add to that and I found the lifestyle pretty lonely and frustrating at times.

I think I made the right choice, anyway. To pass up a well paying job with pretty bright career prospects at my age would be pretty ludicrous. At the moment I am considering trading the longer time frames but it won't be for a while.

Thanks for reading folks!

I'm going to resurrect this thread on a pretty informal basis. I work full time but I can still do analysis and execute trades at work if need be. I miss the thrill if i'm honest and I did enjoy some success although lost it a bit around the holiday season. I expect to post maybe one or two trades a week. Starting with this one, nice wedge break which I intended to ride to S1 but wimped out not long after the pivot. The crazy leap up happened long after I exited.

http://i288.photobucket.com/albums/l...f?t=1311265741

I came away with 30 pips on this one with 15 pip risk.

What a very nice thred ..Will be following..........saw your post on psych.. levels and the order u brought to chaos wit yr trend lines.. have been playing with same same and all is well.. look forward to browsing your thred and checking your lines..

Here's how the Dow Jones looked for me today, quite enjoying the index trading which is totally new for me.

Trade 1 was a false break out : -12

Trade 2 was a real break out up to the pivot : +30

Trade 3 was a break of the H&S then down to the morning trend line, out BE after moving my stop to breakeven.

Trade 4 is the money shot, after three/four failed shots at the trendline (all pin bars) I sold short, tempted to take it down to daily S1 but took it out at the round number for +40.

http://i288.photobucket.com/albums/l...g?t=1311877403

Great!

I don't think it's a surprise the market is looking to close around here, I think some decision will have to be reached about the debt ceiling over the weekend. The markets have been relatively sanguine about the situation but it wont take much to send equity markets into a major down trend.

http://i288.photobucket.com/albums/l...g?t=1311958915

Looks like we smashed through that trend line with gusto.

This was today's trade, pretty smooth apart from getting stopped out. It takes some confidence to re-enter the same trade which is definitely the harder part of trading that I reckon comes with experience.

http://i288.photobucket.com/albums/l...f?t=1312832253