50 bucks...take 2

Since these Trading Journals are kind of like trading diaries I'll add this...

Took a crossfit class yesterday and during it got the most massive headache I've ever heard of, except those in Mission Impossible 3...and since a friend of ours died last year from a brain aneuryrism after having massive headaches, the wife made sure I was at the Emergency Room. CAT scan says I'm fine which was a relief. Got home at midnight I think.

Anyway, this trading with the Pivot Points method is not perfect but it allows me to look at the chart around 11:00 pm MST, just after the 10 o'clock candle has closed. Then I can determine the entry/take profit points.

Got home late last night and that messed everything up but I wanted to trade anyway. Next post shows what I did.

So I kind of like this Pivot Point (PP) indicator because it has several little additional reference points such as Yesterday's High/Low and even the Fibonacci retracements relating to those points.

In case my computer crashes and I need to find it again, it is called:

vs_PivotsD_v4

Okay here's the chart from last night for EURUSD. It opened above the PP so it was gonna be a bullish play. I thought it was gonna bounce off the 76/24 Fib level and try to break thru Yesterday's High (YH), the red line. It didn't. I was SUPER tired and went to bed so I didn't care. Had I stayed awake, the price dropped all the way down to the PP and then got back on the bullish train.

Because I went to bed my entry point (the green line) was too high, could've entered on the PP but then my take profit level would've been lower probably at the TO (todays open) line.

Either way, the trade was successful.

Interesting trade tonight. If you get frustrated by congestion then look at these 2 charts. USDJPY opened below the Pivot Point so I was looking to go short.

Enter on green, exit on maroon, stop loss is black...teal vertical is when I put the stop limit order in.

Shortly after I put the order in the price began to climb which I thought was going to the PP but it kept climbing...I then thought it was going to mR1 level but it shrank back. These 2 charts are the same except the second one is zoomed in. Here you go...

BTW, traded .02 lot size and trade was successful.

Well last night was a trap I fell into. Many guys would have you believe stop loss "hunters" were at work...but that wasn't true.

I traded AUDNZD last night and the trade was a fail. Two mistakes were made...

#1. I set my entry too close to the resistance level. I definitely should have set it about 5 pips higher.

#2. I should have looked 2 days back and set up a Fibonacci retracement because it told me everything this morning. The Pivot Points were correct in what the trade of the day was gonna be - bullish. I flaked out on the pullback and saw that my stoploss was about be hit but, either way, my exit would have been incorrect.


This should have been an awesome trade and if anyone took it, congratulations. Now I'll give 2 screenshots, the first showing what I did and the second what I should have done....1 hour charts

This is from Monday night..

EURUSD and the bias for the day was bearish so I went short with .02 lots...good trade for + 19 pips...after it hit my take profit level, stinkin thing took off which would've triggered my stop loss...whew!

Tonight, opened well below the pivot point so bearish night - I'm going short EURUSD with lot size of .02 again.

I loaded Fibonacci's on yesterday's high/low points along with my pivot point indicator. I think it will go down to 1.36878 (or the 61.8% Fib level from yesterday)

Okay, so Tuesday nights trade didn't happen at all. The trade never got triggered because the it went bullish after I set the order.

Wednesday night was different though. Once again, pivot points said bearish trades so I went short. Aqua (vertical line) was when I place the Stop Limit order. Lime green (my entry point) and maroon (my exit point) horizontal lines show where I what I was thinking when contrasted against both the Fibs and the daily pivot points.

Successful trade while I was asleep but, obviously, there was far more in that trade for those that were awake.

Haven't updated this since Weds night and made a trade so I need to post this picture. Small gain with .02 lot size trading EURUSD on 1 hr chart.

Hello, EURUSD opened below the pivot point tonight (Sunday) so looking for bearish trade. I can't quite tell but it may have already found a bottom of this current bearish trend from last week so we'll see tonight. Could easily turn into a bullish reversal.

I'm not looking for much in a trade because of that thought above. I attached the Fib retracement to Friday's high and low and think it will dip down to the -23.6% level.

My entry is the green horizontal line and exit is the maroon horizontal line. I put the Stop Limit order where the aqua vertical line is. No stop loss tonight because of increased lot size of .04...see if I get a margin call or not.

Trade canx.

It went up and stayed at the pivot point like troops massing on the border. Fortunately, it didn't trigger my trade and then do that.

I went for a quick, simple trade tonight and it looks like it will go bad.

Opened above pivot point so I went long. I waited until it hit the pivot point and set a buy stop above the consolidation area and somehow it got triggered and, of course, reversed immediately...so now we wait.

Mercy...uncle...what else do I need to say before the pain stops?

So that was horrible. Only a 22 pip loss but times .04 lot size but it proves you can think you know where the market is going and then BAM!

So I'll walk it off and trade again.