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Discovering An Edge

  • #101
  • Jun 23, 2015 10:24pm Jun 23, 2015 10:24pm
Quoting vlady1974
Long USDCAD @ 12329, target 12629 Short AUDNZD still in play, target 11215 Long USDJPY added @ 12400, decided to go for long range target of 12620 and 12685
Closed AUDNZD for +29.5
A pip is only worth it if you know how much you risked to earn it
  • #102
  • Jun 23, 2015 11:06pm Jun 23, 2015 11:06pm
Short GBPJPY @ 19526 based on 15M chart
Looking to Long EURUSD but will wait for London open
A pip is only worth it if you know how much you risked to earn it
  • #103
  • Jun 23, 2015 11:16pm Jun 23, 2015 11:16pm
2 more pending Longs USDCAD @12314 and 12318
A pip is only worth it if you know how much you risked to earn it
  • #104
  • Jun 23, 2015 11:40pm Jun 23, 2015 11:40pm
Quoting vlady1974
Short GBPJPY @ 19526 based on 15M chart Looking to Long EURUSD but will wait for London open
Stopped out GBPJPY-30
A pip is only worth it if you know how much you risked to earn it
  • #105
  • Jun 23, 2015 11:55pm Jun 23, 2015 11:55pm
Quoting vlady1974
{quote} Stopped out GBPJPY-30
I was wrong about the retrace. Long @ 19569, target 19691
A pip is only worth it if you know how much you risked to earn it
  • #106
  • Jun 24, 2015 12:01am Jun 24, 2015 12:01am
Long DAX 11562.6
Need to watch this. Sights are on 11871.7 as target but we'll reassess.
A pip is only worth it if you know how much you risked to earn it
  • #107
  • Jun 24, 2015 3:02am Jun 24, 2015 3:02am
Bad morning!
No time to manage trades as soon as I got into work. Aarrgh!
Anyway, DAX -68. GBPJPY -40 USDCAD -50.

What a Mofo. Anyway. I'm over it. Out of my meetings and I am now in effing scalp mode to recover/salvage this shite. LOL
A pip is only worth it if you know how much you risked to earn it
  • #108
  • Jun 24, 2015 3:40am Jun 24, 2015 3:40am
Quoting vlady1974
Bad morning! No time to manage trades as soon as I got into work. Aarrgh! Anyway, DAX -68. GBPJPY -40 USDCAD -50. What a Mofo. Anyway. I'm over it. Out of my meetings and I am now in effing scalp mode to recover/salvage this shite. LOL
Welcome to the club vlady!
If it makes you feel better, i got pistol whipped on the ES(my pistol whipping i'll go over shortly).

Attached Image

Blame Greece for a shiitty proposal or creditors for rejection. Take your pick LOL.
It really doesn't matter though.
You so happened to be long risk assets (GBPJPY and DAX) when flow hit. Market went instantly 'risk off', offering equities and bidding yen.

Be careful with these guys meeting all the time and throwing proposals around. Note the Greek schedule and dance around that if you can.
Things will be easier once Greece is off the table.
Regards
  • #109
  • Jun 24, 2015 3:54am Jun 24, 2015 3:54am
Blame Greece...Blame creditors???? Why trade things EUR related, like DAX on a day like today when you have absolutely no idea the outcome of the meetings? #1 rule is protect capital. Unless you are only taking quick scalps, the lack of clarity means, at least to me, stay in the sidelines until the picture clears for all things Euro related at least until today's meetings are over. Just my .02
There are lots of other instruments to trade.
  • #110
  • Jun 24, 2015 3:57am Jun 24, 2015 3:57am
Quoting skfx
{quote} Welcome to the club vlady! If it makes you feel better, i got pistol whipped on the ES(my pistol whipping i'll go over shortly). {image} Blame Greece for a shiitty proposal or creditors for rejection. Take your pick LOL. It really doesn't matter though. You so happened to be long risk assets (GBPJPY and DAX) when flow hit. Market went instantly 'risk off', offering equities and bidding yen. Be careful with these guys meeting all the time and throwing proposals around. Note the Greek schedule and dance around that if you can. Things will...
I really appreciate this advice Ian! It was inevitable that my 2 week streak was gonna end in a thud. But in a way, I'm glad it did as it just highlights the weaknesses I have to work on and some gaps in my knowledge and assumptions. For what it's worth, I am appreciating more of the flow - it's a matter of adjusting my biases so I can associate it with the mechanical act of evaluation/trigger/execute - at the moment, I seem to be a deer in headlights. It's one I definitely need to work on. Hence this journal!

Thanks!
A pip is only worth it if you know how much you risked to earn it
  • #111
  • Edited 5:25am Jun 24, 2015 4:55am | Edited 5:25am
Quoting panamamike
Blame Greece...Blame creditors???? Why trade things EUR related, like DAX on a day like today when you have absolutely no idea the outcome of the meetings? #1 rule is protect capital. Unless you are only taking quick scalps, the lack of clarity means, at least to me, stay in the sidelines until the picture clears for all things Euro related at least until today's meetings are over. Just my .02 There are lots of other instruments to trade.
I was trading ES Mike. Money flows everywhere and ripples are large!
http://www.forexfactory.com/showthre...69#post8343869

What you are saying though is spot on!
I have been advocating not trading anything Eurozone/EUR related due to your above post. By doing this you mitigate any unnecessary risk.
To avoid it completely as a trader though, you go on vacation LOL!
Attached Image (click to enlarge)
Click to Enlarge Name: FFgreece.png Size: 47 KB

Regards
  • #112
  • Jun 24, 2015 4:57am Jun 24, 2015 4:57am
Quoting vlady1974
{quote} I really appreciate this advice Ian! It was inevitable that my 2 week streak was gonna end in a thud. But in a way, I'm glad it did as it just highlights the weaknesses I have to work on and some gaps in my knowledge and assumptions. For what it's worth, I am appreciating more of the flow - it's a matter of adjusting my biases so I can associate it with the mechanical act of evaluation/trigger/execute - at the moment, I seem to be a deer in headlights. It's one I definitely need to work on. Hence this journal! Thanks!
They only call me Ian on the weekends vlady! LOL
It's Stephen during the week.
Just a minor detail.

Regards
  • #113
  • Jun 24, 2015 5:17am Jun 24, 2015 5:17am
Quoting skfx
{quote} I was trading ES Mike. Money flows everywhere and ripples are large! http://www.forexfactory.com/showthre...69#post8343869 What you are saying though is spot on! I have been advocating not trading anything Eurozone/EUR related due to your above post. By doing this you mitigate any unnecessary risk. To avoid it completely as a trader though, you go on vacation LOL! Regards
I agree 100%....the only riskless trade is a pure arb. It is the unnecessary risks, we as traders at times choose to take on, that usually end up biting us in the ass.
  • #114
  • Jun 24, 2015 5:26am Jun 24, 2015 5:26am
Quoting panamamike
{quote}It is the unnecessary risks, we as traders at times choose to take on, that usually end up biting us in the ass.
  • #115
  • Jun 24, 2015 5:45am Jun 24, 2015 5:45am
Quoting skfx
{quote} They only call me Ian on the weekends vlady! LOL It's Stephen during the week. Just a minor detail. Regards
LMAO!

So sorry mate.... those Ian's posing as Stephens move around alot!! Apologies!

That's the only stupid thing today that's made me laugh!

Cheers Stephen!
A pip is only worth it if you know how much you risked to earn it
  • #116
  • Jun 24, 2015 6:07am Jun 24, 2015 6:07am
Quoting vlady1974
{quote} LMAO! So sorry mate.... those Ian's posing as Stephens move around alot!! Apologies! That's the only stupid thing today that's made me laugh! Cheers Stephen!
No worries Frank!
Keep up the good work matey!

I'm off for a bit.
Regards
  • #117
  • Jun 24, 2015 6:14am Jun 24, 2015 6:14am
Sooo...

Back to my original gameplan. I've loaded up on the trades I have targets on + 1 surprise (thanks Ephisi).
I'm still working on Flow information and news - that's always gonna be tough with a full time job.

Anyway, no EUR based pairs. But I am riding USD and GBP.

Longs in play are:
USDJPY @ 12384, 12400
USDCAD @ 12306, 12329
GBPCAD @ 19390

Took -37 on EURJPY before deciding on NOT trading any EUR (just goes to show how bloody stubborn I am) as I thought I'd seen a break on the 15M. Again, non-conscious incompetence kicking in when in mild revenge trading mode).

But anyways, roughly +200 pips net on the table.... let's see where she bloody well goes.
A pip is only worth it if you know how much you risked to earn it
  • #118
  • Jun 24, 2015 6:16am Jun 24, 2015 6:16am
Quoting vlady1974
Sooo... Back to my original gameplan. I've loaded up on the trades I have targets on + 1 surprise (thanks Ephisi). I'm still working on Flow information and news - that's always gonna be tough with a full time job. Anyway, no EUR based pairs. But I am riding USD and GBP. Longs in play are: USDJPY @ 12384, 12400 USDCAD @ 12306, 12329 GBPCAD @ 19390 Took -37 on EURJPY before deciding on NOT trading any EUR (just goes to show how bloody stubborn I am) as I thought I'd seen a break on the 15M. Again, non-conscious incompetence kicking in when in mild...
All stops to BE +Beer Money
A pip is only worth it if you know how much you risked to earn it
  • #119
  • Jun 24, 2015 6:30am Jun 24, 2015 6:30am
Quoting vlady1974
USDJPY @ 12384, 12400 USDCAD @ 12306, 12329 GBPCAD @ 19390
Closed GBPCAD +79
A pip is only worth it if you know how much you risked to earn it
  • #120
  • Jun 24, 2015 6:37am Jun 24, 2015 6:37am
I just took profits on both GC and UC ..... GC on high of day test and Ucad on 10 D ATR. Great minds......lol
Quoting vlady1974
{quote} Closed GBPCAD +79
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