A bored trader and his boring journal

I'm so bored by the EUR/USD endless range on the one hour time frame that I decided to open a journal and document a new approach I'm gonna take on the market.

My regular way of trading is to try to capture 20 to 50 pip moves intraday.

Now after years watching the market I believe I developed an eye to catch "commercial" moves. Which I believe consists in the big companies and investment institutions money flows.

I'm aiming for the over 1000 pips moves.

I'm gonna use some technical tools that I'm familiar with and lets see if I can do it. I'm gonna post my calls here before the fact pretty much with plenty of time for anybody to follow it. Trade at your own risk though.


As the title suggests this thread will be really boring because I'm gonna write basically around the beginning of the trend and at its end.

I'm gonna use a small account I have and I'm gonna be trading @ 1 buck per pip.

When I see a probable situation, I will take a series of trades until i feel that I got the trend, than I will trade again only to take my profits and when the cycle re starts in the opposite direction.

Lets see if I can pull it off.

For this chunk of movement I'm basically using this chart. The movement started at 1.4939 and so far we have 2345 pips. The next leg down could be the last so I'm looking forward to trade it.

I might have my signal short by the end of the week or beginning of next week
if I can catch it properly it would give me 800 plus pips when I think a new uptrend will begin.

Lets follow the clues and see what will come.

I'm pretty close to go short EUR/USD and if I'm right this ride will last for 800 pips or so. I'm pretty confident about this trade but since this experiment is not a quest for the holy grail it could go wrong.

As soon as I open my trade I'm gonna post it here.

Getting close to mid night and I have to wake up to my regular trades 4AM so it means that I'm not gonna open any positions tonight.

This is just a project and I cant let it disrupt my regular trading hours.

Anyways even if I miss the best possible entry if it happens while I'm sleeping, I believe the move will be big enough so I can still get a good chunk of it by early morning.

Still waiting patiently for a signal.

The pic below IMHO reinforces my berish bias but I have to wait for a signal and confirmations before jumping in.

I would like to thank FF for cleaning the thread from posts not related to trading. Some losers can't trade, have too much time in their hands so they come to peoples thread with the only intention to disrupt.

Ok got my signal and all but one confirmation. It is 8:52AM NY time and I'm gonna open a short position on the break of the 1 hour bar meaning any time after 9AM.

I just hope the current bar does not go too far down because I don't like to short on extended down swings.

Short @ 1.3054 9:04AM NY time. From now on I will take my losses if the short signal is invalidated which means having a long signal.

I'm not trading long at these levels so I will get out and wait for another short signal. I will do it until I get the right one.

Ok it is 11:11AM and I got a signal to go up but no confirmation yet. I doubt I'm gonna be able to to hold it till the next bar so I might get out at -50 pips, lets see.

I'm out for -52 pips so now I wait till the next signal to go short, which could be right the way or it could take days.

My regular trading day finishes at 5PM London time. This project here theoretically goes 24 hours 5 days per week, so I'm gonna go and leave the alarms on.

I'm trading this system "mentally" for a while now but nothing like real money, real world experience to give you a clear idea where to improve. Trading small gives me the flexibility of committing a lot of mistakes and hopefully learning from it while refining my entries and exits.

Reviewing the trade I took today I can't see anything particularly wrong with it but a paradox that I still have to figure out.

When I get a signal I have to options:

A- Trade the signal alone
B- Wait for 3 layers of confirmation, than take the trade.

Today if I had traded the signal alone I would have gotten out around BE instead of -50 pips. But a lot of times confirmations can save you from wasting time jumping in a clear fake so I still have to work on this problem.

Another detail is that it seems weird when on my regular day trading I take positions against my "project position" . I cot myself second guessing a entry which delayed my long position on the last 70 pips move up.

Well I guess thats what projects are for, to sort out bugs.

I had to leave for a few hours and now that I'm back I see a new signal but no confirmation.

In a situation where I would take the signal alone I would be still in a trade but barely since BE is right there.

I'm keeping on eye on the market. A break south on the 1 hour bar will trigger another short.

Short @ 13071 8:10PM NY time. I believe the break out started. Stops @ next long signal.

Out at 1.3090. Now waiting for new entry.

I was out when my short signal came so this trade is "virtual" just for the record

Short @ 1.3090

My position initiated on march 15 sits now at +430 pips.

The original plan was to get out for 800 pips but my entry was really bad so I will have to get out now.

Since I started this thread I developed some filters so my next entry should be better.

I'm out but I'm not saying that the down trend is finished. I'm taking my profits because 430 bucks for this first "pet project" trade is more than enough.

I doubt I will have another entry in the next weeks or even months so this thread will keep BORING!!