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  • #221
  • Jan 13, 2012 11:54am Jan 13, 2012 11:54am
Charts of the E/$ trade, but will not have time to post charts of the GBP or CAD trades.This was a break out trade with lots going for it. It was breaking a support, a trend wall, had a 1-2-3 kind of flavor to it, was moving with a sharp correction in equities, etc. Initial stop was at the top of the candle, and above the broken trend, and above the .786 (not shown) of the possible leg being developed in this move.

Attached Image (click to enlarge)
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Thought the PA would pull back before moving on, but that did not play out for me. Other trades developed on the CAD and GBP, though.

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  • #222
  • Jan 15, 2012 6:23am Jan 15, 2012 6:23am
Some preliminary chart work on the euro, pound, and the cad.

Euro has revisited this level again (third time) and we must wait to see if there will be continuation or a bounce.
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The GBP/$ pulled back from the Friday action and is in an interesting position. Will watch this one closely at open.
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This is the CAD. It is a text book example of what not to trade (in its current state) but may break out soon.
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  • #223
  • Jan 16, 2012 9:25am Jan 16, 2012 9:25am
Just a quick look at the euro this morning and something perhaps interesting today. Even though the US markets are closed for MLK Holiday, I expected the euro to move back up during the European markets. I mean, if your own investors can't defend and protect the currency, who can? So its interesting to me that there was so little action on the euro to at least square up some of the move south from last Friday.

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  • #224
  • Jan 19, 2012 4:38am Jan 19, 2012 4:38am
First trade of the day is in on the E/$, on the move north on the 1H chart. Targeting above 1.2925, and will protect my entry price as soon as this is posted.

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  • #225
  • Edited 5:46am Jan 19, 2012 5:15am | Edited 5:46am
OK, moving my stop to 1.2884 to protect a few pips.

Edit: Market is probing for more buyers or for some stops around the 1.2900+ area. Moving stop to 1.2894 and will re-enter later if the market fails to find more buyers and falls back.

Edit2: Market is trying to move to target, and moving stop to 1.2899 to protect 25 pips
  • #226
  • Jan 19, 2012 12:42pm Jan 19, 2012 12:42pm
Second trade in the E/$. Another fib trade that worked well.

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OK, I took a 1% loss yesterday trying to short this thing, and got back about 8% today. Havng a good week.
  • #227
  • Feb 14, 2012 3:46pm Feb 14, 2012 3:46pm
Been some time since my last post, so here my Euro action from today.

First trade was on the turn back north, after the resistance was breached.
Attached Image (click to enlarge)
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Once I was up 25 pips, I moved my stop to zero. I was focused on the fact that the previous resistance seemed to contain the up move.
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On the retrace my first trade was stopped out at zero, and I entered a second trade at the .618 fib.
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Trade 2 was stopped out for a 25 pip loss, so trade 1 is 0 and trade 2 is -25.
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But it gets better in a few minutes.
  • #228
  • Feb 14, 2012 3:56pm Feb 14, 2012 3:56pm
Trade 3 was on the turn back south. I had an initial limit of 75 pips and a stop of 35 pips.
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On the retracement, I entered trade 4 at the .50 fib (should be noted that equity markets were falling, and I was also short the AUD/$ with 2 positions).
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It tool a while but trade 4 hit the 55 pip limit. Left trade 3 still running. At this point, trade 1 = 0, trade 2 = -25, and trade 4 = +55.
Attached Image (click to enlarge)
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Late in the NY session, I move my limit on trade 3 from 75 to 55 pips (just above the previous support/resistance level).
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Trade 3 earned 55 pips, so for the day I captured 85 pips. (got 45 pips on the AUD/$ trading, too).

Was more than willing to take the loss early in the trading day as I was kind of uncertain if the euro was going to move on north or continue south. Sometimes, a loss can help me settle on the trading strategy for the day and helps open my eyes to what is going on.
  • #229
  • Feb 16, 2012 7:53pm Feb 16, 2012 7:53pm
Traded the GBP/$ and the E/$ today. Here is my GBP/$ trade:
Entered on the break, 35 pip stop and a 75 pip limit.
Attached Image (click to enlarge)
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Great, smooth PA but with little retracement for follow-up trades (at least for my trading style).
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My E/$ trades were taken because they had better follow-up PA to this move that did the GBP/$.
  • #230
  • Mar 11, 2012 1:39pm Mar 11, 2012 1:39pm
Spent the last few weeks doing some extensive research (when not trading) on forex trading. My work included: re-interviewing some old friends who are/where forex traders and bond traders for big banks and funds; extensive research on some basics regarding chart analysis, using some very fundamental tools and trading ideas. The real work has been combining the two areas of research. The primary ideas I've been working on are to better understand what the big players have been doing, are doing, and are likely to do. My objectives include: refining my entry and exits; identifying when to add to trades; and improving on my yeild per trade. I am amazed at the findings. As a result, I will be signing off FF for a few months while I incorporate these ideas into my trading.
  • #231
  • Mar 12, 2012 9:46am Mar 12, 2012 9:46am
Quoting GEfx
Spent the last few weeks doing some extensive research (when not trading) on forex trading. My work included: re-interviewing some old friends who are/where forex traders and bond traders for big banks and funds; extensive research on some basics regarding chart analysis, using some very fundamental tools and trading ideas. The real work has been combining the two areas of research. The primary ideas I've been working on are to better understand what the big players have been doing, are doing, and are likely to do. My objectives include: refining...
All the best with your research and study. Please let us know how you went in a few months time. Ray
  • #232
  • Mar 24, 2012 10:21am Mar 24, 2012 10:21am
OK, I am two weeks into this and it's going very well. I want to thank the three bankers who have been working with me to better understand their jobs and how things work on their end, but I am not allowed to use their names. So, thanks for the help!

The basic idea (blinding flash of the obvious here) is to build my TA in such a way as to replicate the thinking and work being done by the banks and other large players, taking into consideration how they likely view the market at anytime, how they assess opportunity and risk, and how they think and behave when the market is moving. Since I can't talk to them during the day, and since I do not have access to their charts or their plans, it is up to me to figure out what they are up to and how to trade based on their likely actions. That all seems pretty basic and fundamental, but there are several ways to do a better job at this, and while I have not found the holy grail, I think I have found the keys to the castle. So far, so good.

Back to work.
  • #233
  • Apr 12, 2012 12:55pm Apr 12, 2012 12:55pm
Quoting GEfx
OK, I am two weeks into this and it's going very well. I want to thank the three bankers who have been working with me to better understand their jobs and how things work on their end, but I am not allowed to use their names. So, thanks for the help!

The basic idea (blinding flash of the obvious here) is to build my TA in such a way as to replicate the thinking and work being done by the banks and other large players, taking into consideration how they likely view the market at anytime, how they assess opportunity and risk, and how they think...
Hi GEfx,

I have been reading up on your trade journal. Just wanted to drop a thank you message for what you've shared

Regards
N
  • #234
  • May 31, 2012 10:22am May 31, 2012 10:22am
OK, now more than 2 months into my new trading approach, and I know that the recent market developments have skewed my results, but the new approach is working very well. Hope everyone is getting their fair share of pips. I will post a few charts sometime soon to share what's working for me.
  • #235
  • Edited 1:38pm May 31, 2012 1:19pm | Edited 1:38pm
Quoting GEfx
OK, now more than 2 months into my new trading approach, and I know that the recent market developments have skewed my results, but the new approach is working very well. Hope everyone is getting their fair share of pips. I will post a few charts sometime soon to share what's working for me.
Congratulations on taking the initiative! Your attitude is refreshing.
  • #236
  • May 31, 2012 7:27pm May 31, 2012 7:27pm
This is a 4H chart (lower level TA has been removed) that shows a summary level of TA. The basic idea is to trade with the power players, entering when they are most likely to enter, and staying in until targets are hit. This requires a combination of faith in TA, an understanding in FA, and an idea about what is going on within large banks and other institutions that drive the market from one price level to another.

Attached Image (click to enlarge)
Click to Enlarge Name: GBP.gif Size: 35 KB


I still have a lot to learn and am just now getting used to staying in trades for long periods of time (to my 4H and 1H targets). This style probably will not work for many traders, but it really works for me.

I will now spend the rest of the summer working out the kinks. Best of luck to everyone and have a great summer!
  • #237
  • Jun 22, 2012 5:58am Jun 22, 2012 5:58am
Attached Image (click to enlarge)
Click to Enlarge Name: euro.gif Size: 42 KB
  • #238
  • Jun 22, 2012 6:56am Jun 22, 2012 6:56am
Quoting GEfx
Attachment

nice entries there GE.
Success consists of going from failure to failure without loss of enthusiam
  • #239
  • Nov 7, 2012 5:11am Nov 7, 2012 5:11am
Hey GE what's happened to your journal - are you still trading?
  • #240
  • Nov 9, 2012 8:41am Nov 9, 2012 8:41am
Quoting andys0506
Hey GE what's happened to your journal - are you still trading?
Yes still trading every day. Too busy to post and chat these days. Good trading to you and thanks for your note.
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