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Trading For Those With a 9-5 Job

  • #81
  • Jan 21, 2011 6:41am Jan 21, 2011 6:41am
Summary of January trades taken so far

Sold eurgbp @0.8566 Closed @0.8554 (+12pips)
Sold audcad @1.0075 Closed @1.0040 (+35pips)
Sold eurgbp @0.8473 Closed @0.8453 (+20pips)
Sold usddkk @5.6700 closed @5.6177 (+523pips)
Sold audusd @0.9994 closed @0.9969 (+25pips)
Sold eurgbp @0.8420 closed @0.8445 (-25pips)
Sold eurcad @1.3189 Closed @1.3109 (+80pips)
Sold eurgbp @0.8340 Closed @0.8365 (-25pips)
Sold usddkk @5.5642 Closed @5.5431 (+211pips) two-thirds
Sold usddkk @5.5642 Closed @5.5242 (+400pips) remaining one third
Sold gbpusd @1.5940 Closed @1.5896 (+44pips)
Sold audcad @0.9824 Closed @0.9867 (-43pips)

Essentially gave back the dosh made yesterday
If you think you can or cannot do it you are correct
  • #82
  • Jan 21, 2011 6:59am Jan 21, 2011 6:59am
Quoting Olu
audcad trade closed @0.9867 (-43pips)
This pair used to have good reaction to news, we have the Canadian core retails rateil sales figure coming out in 30mn, if we get good positive deviation then the pair might break the TL and go deeper south.
  • #83
  • Jan 21, 2011 9:56am Jan 21, 2011 9:56am
This pair is back down below my previous entry. Not funny at all. I am still convinced of the possibility of a big fall in this pair. So I might be going back in
If you think you can or cannot do it you are correct
  • #84
  • Jan 21, 2011 10:01am Jan 21, 2011 10:01am
Quoting Olu
This pair is back down below my previous entry. Not funny at all. I am still convinced of the possibility of a big fall in this pair. So I might be going back in
This time I will look for a higher entry, possibly closer to 0.9870 if possible.
If you think you can or cannot do it you are correct
  • #85
  • Edited 6:34pm Jan 22, 2011 6:20pm | Edited 6:34pm
I have uploaded a daily chart of the eurgbp. I am still bearish on this pair. I believe, according to my rudimentary elliott that this recent upmove in this pair is a correction against the main trend. I think the next move will be down. The rally has reached the 68% fib retracement of the recent downmove. If we go a lot higher then all bets are off and we have a new bull move on our hands. For me, I am hoping we will not take out this last up candle by much before we get a reversal. The stoch, even though not turned, is reaching for oversold regions. The downmove that broke the trendline was a powerful, impulsive 4 day affair but the move up, although impressive in itself is more than 4 days in length with pullbacks inbetween. Hence the natural, path of least resistance for this pair, is down

My two cents...
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp-daily-22012011uk.jpg Size: 119 KB
If you think you can or cannot do it you are correct
  • #86
  • Jan 24, 2011 7:48am Jan 24, 2011 7:48am
My system is indicating a sell in this pair. I have uploaded a daily chart for your consideration

Price is finding it difficult to get above 100sma.
Stoch has turned down

Perhaps the whole upmove is not the beginning of a new up move but a retracement that will lead to the old trend reasserting itself

If price moves to the downside the first challenge is 5082...

I would love to sell this pair at a better price with a stop above the consolidation...
Attached Image
If you think you can or cannot do it you are correct
  • #87
  • Edited 7:58am Jan 24, 2011 7:56am | Edited 7:58am
Quoting Olu
My system is indicating a sell in this pair. I have uploaded a daily chart for your consideration
Price is finding it difficult to get above 100sma.
Stoch has turned down
Perhaps the whole upmove is not the beginning of a new up move but a retracement that will lead to the old trend reasserting itself
If price moves to the downside the first challenge is 5082...
I would love to sell this pair at a better price with a stop above the consolidation...
Short 5240 (half usual size) 100 pip stop looking for 200pips or more (lol got to keep the hope alive). Will analyse whether to keep open or not when I get home.
If you think you can or cannot do it you are correct
  • #88
  • Jan 24, 2011 12:16pm Jan 24, 2011 12:16pm
The downdraft has stalled...
If you think you can or cannot do it you are correct
  • #89
  • Jan 24, 2011 2:05pm Jan 24, 2011 2:05pm
Quoting Olu
I want to carefully consider my entry technique. As you can see from my trade summaries January 2011 has been relatively ok trading-wise. One common theme on analysis of the trades was that the trade first attacks my stop and nearly stops me out before turning around and going the right direction. In fact If I hadn't used a big stop I would have been stopped out of a lot of my trades.

GolferFx said something the other day. He said 'let the trade come to you' That got me thinking what if I entered my trades on limit order say 50%...
You had the answer in post 12: 1-2-3 formation I had checked all your trades. There are exelent entries with 123 + Ross hook. By the last AUD/CAD you don't have 123 therefore no loser . Here example:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp-chf.jpg Size: 68 KB
Click to Enlarge Name: eur-gbp.jpg Size: 66 KB
  • #90
  • Jan 24, 2011 4:24pm Jan 24, 2011 4:24pm
Thanks for your contribution to the thread. About the entries. GolferFx also mentioned the 123 entry and I will adopt it into my trading. More examples please...
If you think you can or cannot do it you are correct
  • #91
  • Jan 24, 2011 6:32pm Jan 24, 2011 6:32pm
This pair has flashed a sell to me. Just like the gbpchf it is struggling at the 100sma. Price action is a bearish engulfing candle. Stoch has turned down and is accelerating to the downside. Worthy of consideration with a stop initially above the bearish engulfing candle.
Attached Image
If you think you can or cannot do it you are correct
  • #92
  • Jan 24, 2011 6:34pm Jan 24, 2011 6:34pm
Quoting Happy68
You had the answer in post 12: 1-2-3 formation I had checked all your trades. There are exelent entries with 123 + Ross hook. By the last AUD/CAD you don't have 123 therefore no loser . Here example:








p.s. your 1-2-3 is however not valid...there can be only one #1
  • #93
  • Jan 24, 2011 7:11pm Jan 24, 2011 7:11pm
I am dusting my ebook on 1-2-3 right now. please if anyone has a copy that can be uploaded without breaking copyright I would be grateful

Olu
If you think you can or cannot do it you are correct
  • #94
  • Jan 24, 2011 9:03pm Jan 24, 2011 9:03pm
Quoting Olu
The downdraft has stalled...
stop moved to 1.5190
If you think you can or cannot do it you are correct
  • #95
  • Jan 25, 2011 12:45am Jan 25, 2011 12:45am
Quoting Olu
Thanks for your contribution to the thread. About the entries. GolferFx also mentioned the 123 entry and I will adopt it into my trading. More examples please...
here please
Attached Image (click to enlarge)
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  • #96
  • Jan 25, 2011 6:15am Jan 25, 2011 6:15am
Thanks for the example I now get what you and GolferFx are talking about. I will incorporate this into my trading asap. Would be happy if any charts of interest are uploaded.
If you think you can or cannot do it you are correct
  • #97
  • Jan 25, 2011 6:17am Jan 25, 2011 6:17am
Quoting Olu
stop moved to 1.5190
The gbpchf trade is now closed via a take profit order placed when I originally put the trade on +200pips.

One is happy
If you think you can or cannot do it you are correct
  • #98
  • Jan 25, 2011 7:37am Jan 25, 2011 7:37am
Good trade Olu...you hung in there.

We spoke about this trade last week and we had many confluence...pullback to 50/61.8% fib from weekly.

Trend line break...then a loooong sideways channel...our 1-2-3 which was big then our trigger the break of #2.

STP= Set, Trigger, Profit area.

Thats it in a nutshell.

I'm looking at 2/3 around 1.4725 then the rest at the start of this run...stop at b/e now.


good hunting,



golfer
Attached Image (click to enlarge)
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  • #99
  • Jan 25, 2011 10:41am Jan 25, 2011 10:41am
Thanks for your comments. Yes I stuck in there for 200 pips. You would not believe how much my stomach was twisting this morning as I left home for work with a 90 pip profit on the table.

I have just had a look and saw price 180 pips away from my exit. Shame. But I am improving that's all that counts. To milk the market for all it's worth one needs to be a long term trader and have emotional stability. No itchy finger syndrome, no overtrading, no fear or greed. Nothing.

By the way we flagged gbpaud and it is going our way. I am not in it though...

Thanks again Golfer, Happy68 and Heliozds for your contributions
If you think you can or cannot do it you are correct
  • #100
  • Jan 26, 2011 4:56pm Jan 26, 2011 4:56pm
A chart of the eurnzd is uploaded for your consideration.

Market is overbought
price crossed the 100sma but is returning below it
stoch has turned down

123 down formation is evident on the 4hrly chart
Attached Image (click to enlarge)
Click to Enlarge Name: eurnzd-daily-26012011-2245uk.jpg Size: 75 KB
If you think you can or cannot do it you are correct
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