Recent content by FX_Cowboy

In the spirit of using this journal to keep track of how my system development is progressing, I want to set down my thoughts concerning the issues (or at least some of them) raised in my last post. -------------------------------- Issue: How do I reconcile a system based on S/R levels with...

Welcome to Trade2Win oldbull. I would recommend taking a look at the following: http://groups.yahoo.com/group/DbPhoenix/ I have benefited greatly from information I received there.

I just wanted to post an update on where things stand with my trading. I needed to take some time off from my journal, and from trading, for a while to regroup, and to try to achieve some perspective on my developing system and how it fit with other ideas and concepts I have about trading...

Even een paar zaken doordenken. Ik kom zo terug.

Minor "aha": In one sense, a trend is nothing more than a series of plausible reversals that, for one reason or another, just didn't work out.

I realize that it's been awhile since my last journal entry. What I am and have been doing is observing S/R more closely using "dead" charts, playback, and in real time. I'm seeing things a bit more clearly now in terms of how to nail my entries better, and I'll soon be ready to resume my...

A couple of additional thoughts on the contract strategies. C1 can be traded as a standalone scalp entry, or else as a way to get the overall (multiple contract) trade to BE, which was the original intention. I think the C1 strategy makes sense, is fairly straightforward, and with a bit more...

4/13/06 Review Now that I've put some distance between doing this day and reviewing it, I think I can see the day with fresh eyes. One thing I'm failing to pay attention to in real time is that supply and demand lines exist because they indicate buying or selling in a pattern that is related...

In switching between different timeframes, I've lost my original notations, but this is how the day ended up. I see your point about this not being a hinge. I think price was trending upward in what I call a sawtooth pattern.

T6: As I perceive price is leaving the hinge, I'm taking a long entry following another very brief RET. Entry is at 1.2150, with an initial stop at 1.2144. Targets are: C1 - 1.2156 (6 pips) C2 - 1.2168 (18 pips) Edit: Results are (6, -6, -6)

I now realize that price has formed a hinge, so I'll need to wait for a BO from this formation before entering again.

T5: Price breaks back up through R. My entry is 1.2150, with an initial stop at 1.2143. Targets are: C1 - 1.2157 (7 pips) C2 - 1.2168 (18 pips) Edit: Results are (-7, -7, -7)

T4: I initially missed this entry, in part because I was half expecting price to break back up through R (wasn't available for a short entry). I've moved the S/R level down by one to accomodate my entry criteria. Entry should have been at 1.2133, with initial stop at 1.2142. Targets are: C1...

T3: Lots of volatility after the news announcement. This is not a perfect entry because the RET is actually 1 pip back from where I'd like to see it, but there is a downward sloping SL here, and the entry looks pretty good. Entry is at 1.2138 (ideal entry would have been 1.2140, but I didn't...

T2: This may be taking flexibility too far. I'm making an exception to one of my entry criteria in order to go short here. Price made a brief trip above the S/R level at 1.2167 and then performed a quick and decisive about face. There was a brief RET to 1.2166 (discernable on the 75-tick...