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Sam's Trading

  • #101
  • Feb 8, 2011 1:15am Feb 8, 2011 1:15am
Another one I'm watching...GBP/CHF daily short.
Attached Image (click to enlarge)
Click to Enlarge Name: gchfdaily.jpg Size: 484 KB
  • #102
  • Edited 7:27am Feb 9, 2011 4:38am | Edited 7:27am
Quoting sam0182
Another one I'm watching...GBP/CHF daily short.
Hi Sam, as you know I am a one instrument trader trading EUR/USD almost exclusively but I had a look at this one. I think you are correct with the short bias but you might need to be patient. I think price will target 1.57xx, the 50% retrace of the move down from 1.70xx to fulfill the current gartley which suggests price to target at least 1.56.
Attached Image (click to enlarge)
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  • #103
  • Feb 9, 2011 10:33am Feb 9, 2011 10:33am
Thanks for the post and chart Mac, always good to hear from you.

I agree with your outlook on G/CHF. That daily close was tempting but a move higher before a retracement seems likely. I'll continue to eye this one and remain patient

Best to you this week, we'll catch up soon.

Quoting M.A.C.Doug
Hi Sam, as you know I am a one instrument trader trading EUR/USD almost exclusively but I had a look at this one. I think you are correct with the short bias but you might need to be patient. I think price will target 1.57xx, the 50% retrace of the move down from 1.70xx to fulfill the current gartley which suggests price to target at least 1.56.
  • #104
  • Feb 9, 2011 11:11am Feb 9, 2011 11:11am
Hi Sam

I love fibs...

About as much as Bacon, eggs, and hashbrowns in the morning


Have a great week

Rufus
Attached Image (click to enlarge)
Click to Enlarge Name: 2.9fib.jpg Size: 83 KB
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #105
  • Feb 9, 2011 2:36pm Feb 9, 2011 2:36pm
Me too Great trading this week Rufus. Catch you around Asia.
  • #106
  • Feb 10, 2011 11:24pm Feb 10, 2011 11:24pm
A few things I'm watching tonight...
http://i24.photobucket.com/albums/c2.../audusd211.png

http://i24.photobucket.com/albums/c2...iker/eu211.jpg

http://i24.photobucket.com/albums/c2...ker/gbpchf.jpg

http://i24.photobucket.com/albums/c2.../gbpusd211.jpg

http://i24.photobucket.com/albums/c2...er/ucad211.jpg
  • #107
  • Edited Feb 11, 2011 12:11am Feb 10, 2011 11:25pm | Edited Feb 11, 2011 12:11am
Couple more...

http://i24.photobucket.com/albums/c2...er/uchf211.jpg

Credit to my buddy JLR for pointing out the following, which are at the top of my list tonight...

http://i24.photobucket.com/albums/c2...iker/ej211.jpg

http://i24.photobucket.com/albums/c2...biker/gj-3.jpg
  • #108
  • Feb 11, 2011 5:19am Feb 11, 2011 5:19am
E/GBP short that I'll be watching for...don't like that huge 1hr green candle but will still watch this PPZ.

http://i24.photobucket.com/albums/c2...er/egbp211.jpg
  • #109
  • Feb 11, 2011 5:52am Feb 11, 2011 5:52am
Quoting sam0182
Couple more...

http://i24.photobucket.com/albums/c2...er/uchf211.jpg

Credit to my buddy JLR for pointing out the following, which are at the top of my list tonight...

http://i24.photobucket.com/albums/c2...iker/ej211.jpg

http://i24.photobucket.com/albums/c2...biker/gj-3.jpg
Really nice work mate
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  • #110
  • Feb 12, 2011 12:54pm Feb 12, 2011 12:54pm
Ended the week at -1%.

Reasonable handle on direction this week. R/R, money management, etc was all in check. Unfortunately, a slew of "almost there" trades stacked up against me and I couldn't cut it.

A 2.5p stopout (before a run to TP), an excellent call on U/CHF direction but at a lower support, and two that I can fault myself for:

 

  1. Closing a trade early (went on to nail TP 1hr later) - Psyc Issue
  2. Sleeping through my E/GBP call - Why not set a limit order?

For quite a challenging week with plenty of losers, I feel pretty damn good about my overall process and know that I'm on the path of consistency.

Have a good weekend.

  • #111
  • Feb 12, 2011 2:02pm Feb 12, 2011 2:02pm
Quoting sam0182
Ended the week at -1%.

Sleeping through my E/GBP call - Why not set a limit order?
Have a good weekend.

How about setting an alert???? ACDC should wake you up... Maybe "Dirty Deeds Done Dirt Cheap"

I set a lot of alerts with Garth Brooks and Trace Atkins
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #112
  • Feb 12, 2011 2:52pm Feb 12, 2011 2:52pm
Quoting Rufus
How about setting an alert???? ACDC should wake you up... Maybe "Dirty Deeds Done Dirt Cheap"

I set a lot of alerts with Garth Brooks and Trace Atkins
Haha, you don't even know Rufus! I've purchased a "Sonic Bomb" alarm clock, just to get me up for work in the AM after trading London. It blares at 90+ db and has a vibrator that goes in between the mattresses...seriously. I wear hearing protection for anything louder than 85db out on the job site (company policy). :|

The missed E/GBP trade was at about 7AM and I passed out at 6:30, being up for 26hrs and trading at my desk since 8pm the previous night. JLR and I were going for a good 10-11hrs straight!

I will look into ACDC though...program that stuff. I think you may be on to something...

Have a good weekend, we'll catch you tomorrow night.
  • #113
  • Feb 12, 2011 3:16pm Feb 12, 2011 3:16pm
Quoting sam0182
Haha, you don't even know Rufus! I've purchased a "Sonic Bomb" alarm clock, just to get me up for work in the AM after trading London. It blares at 90+ db and has a vibrator that goes in between the mattresses...seriously. I wear hearing protection for anything louder than 85db out on the job site (company policy). :|

The missed E/GBP trade was at about 7AM and I passed out at 6:30, being up for 26hrs and trading at my desk since 8pm the previous night. JLR and I were going for a good 10-11hrs straight!

I will look into ACDC though...program...
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #114
  • Feb 12, 2011 7:19pm Feb 12, 2011 7:19pm
Going over a couple of my losing trades this week...

First was G/J short Thursday evening (PST). I knew it was due for a drop. My mistakes:

 

  1. I don't think my stops were too tight but I could have kept my eyes on the 15min for any reversal signal that came along. Instead, I had moved on to other trades while GJ threw me a nice short signal.

I was stopped out by 2.5points before GJ smashed well past my TP.

http://i24.photobucket.com/albums/c2...jshortstop.jpg

Secondly, a USD/CHF, long earlier in the week after the 1hr price action off supt. Closed early for a few points loss after 1hr was obviously heading lower.

Mistake, again, not going for the lower signal/bounce off S&R + 61% fib.

First chart, showing price action + S&R and my long, subsequent close and then bounce off the lower support:

http://i24.photobucket.com/albums/c2...er/uchfsp1.jpg


Second chart, showing price moving up well past my TP:
http://i24.photobucket.com/albums/c2...er/uchfsp2.jpg

  • #115
  • Feb 12, 2011 7:57pm Feb 12, 2011 7:57pm
Hi Sam

One of the frustrations I am dealing with is missing signals on one pair while looking at something else on another. For me if I can't get into a position when I get the signal I don't take it. So if I miss it by 5 minutes and the candle has gone 10-15 pips already I don't chase it.

To solve this...


I have decided to get myself set up with multiple monitors. Going to start with 3 eventually go to 6. My plan is to have a pair on each. Then I can sit back and watch charts while reading a book or whatever. I have a hard time clicking through charts for an extended period of time. Drives me nuts. Might be a dyslexia issue.

So with 3 monitors I will put the two most promising up on those and use the third for further research, FF, and possibly a third pair.

One professional trader I know has 6 computer stations each with 6 monitors. He trades his own accounts as well as others. Even a bank has asked him to trade for them..He turned them down. I have accused him of needing spf 100 sunscreen to go into his trading room. Electric bill was unbelievable. Any way he is the one that taught me the 15m TL break you have seen me use so much.

So hopefully within a month I will have the extra equipment set up. I am planning on someday soon to trade for a living and trim houses as a hobby.

Have a good weekend and talk soon.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #116
  • Feb 12, 2011 10:30pm Feb 12, 2011 10:30pm
Good stuff Rufus.

I know in the past, I've been shy about putting together multiple monitors, thinking it would lead me to 5min scalping, which I don't do very well...but now, as I'm more actively trading (especially during UK hours), I can see it's benefit.

I have two monitors but have been only working with one as of late. Will look into this more...this past week has been an example of when it would have come in handy.

Post a picture when you get your setup squared away!

Quoting Rufus
Hi Sam

One of the frustrations I am dealing with is missing signals on one pair while looking at something else on another. For me if I can't get into a position when I get the signal I don't take it. So if I miss it by 5 minutes and the candle has gone 10-15 pips already I don't chase it....
  • #117
  • Feb 13, 2011 11:55pm Feb 13, 2011 11:55pm
Watching GU over the next couple of hours...

http://i24.photobucket.com/albums/c2...iker/gu214.jpg
  • #118
  • Feb 14, 2011 2:18am Feb 14, 2011 2:18am
Hitting the sack, my "quiet" alarm is set for 1am PST, after the first LO 1hr close...we'll see what happens.
  • #119
  • Feb 14, 2011 9:07am Feb 14, 2011 9:07am
Quoting sam0182
Hitting the sack, my "quiet" alarm is set for 1am PST, after the first LO 1hr close...we'll see what happens.
Missed my shot to go short but was nice to see the pair act accordingly.

http://i24.photobucket.com/albums/c2...er/gu214-1.jpg
  • #120
  • Feb 16, 2011 2:22am Feb 16, 2011 2:22am
EUR/USD is all I'm watching for later this morning.

Shout out to JLR for a great NU call a couple of hours ago that I couldn't quite see clearly until after the bounce off the PPZ had occurred.
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