Hey Coopster, I post at all times of the day because im an insomniac
Lucky enough to work for myself though, and from home, so its no big deal. I am able to check the markets all day long so I guess you could say thats full-time. The aim is to make a nice living off trading, got the dough ready for a good sized account, just need to learn how to trade!I screwed this one up. I put a pending order in on the GBP/CHF 4hr to take a breakout trade of a box area. However, owing to a lack of faith I cancelled it as it was about to be activated. Of course its gone on to do exactly what I thought it would.
Idea was to take buy on a retrace to support just above the consolidation area, expecting price to then continue to move up. The bottom red line is the s/l and the top the entry. I would be at break even right now.
Guess the important thing is I recognised a decent enough trade (imo), even if I couldn't pull the trigger.
Idea was to take buy on a retrace to support just above the consolidation area, expecting price to then continue to move up. The bottom red line is the s/l and the top the entry. I would be at break even right now.
Guess the important thing is I recognised a decent enough trade (imo), even if I couldn't pull the trigger.
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StealthTrading
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Nice journal! Anywhere we can read up/purchase more vegas box info?
Hey, that trade wasn't the Vegas knife system, ive decided not to use that, just my own brand of PA. The Vegas Knife is a great system though and proven to be profitable. I discovered it at www.james16group.us. Its a great site, I learned a heck of alot there on everything trading. I highly recommend it
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Hey, that trade wasn't the Vegas knife system, ive decided not to use that, just my own brand of PA. The Vegas Knife is a great system though and proven to be profitable. I discovered it at www.james16group.us. Its a great site, I learned a heck of alot there on everything trading. I highly recommend it
Are these the vegas knife versions that you are referring to?
Actually it's those with a few tweeks made by the guys on the james16 forum, which I thought improved on the original.
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Yes, it works very well. What are the few tweeks?
I think one was a rule about trading when price and the two ma's are within a certian distance. Also a neutral line indicator, plus some other stuff which is a bit hazy now.
There were pages and pages of guides on that site, plus video's. It was changed somewhat but was fundamentally the same as the original.
Took a trade short on the USD/CHF 4hr that I have been watching. Entered after a retrace to the BRN/PPZ .90. The trend has been down for some time and its moving into virgin territory.
Just moved to b/e. Currently +45 pips. Hopefully some poor housing news from the US will give it a kick downwards, equally it could spike back up but either way its a free trade now. Fingers crossed it runs.
Just moved to b/e. Currently +45 pips. Hopefully some poor housing news from the US will give it a kick downwards, equally it could spike back up but either way its a free trade now. Fingers crossed it runs.
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StealthTrading
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Nice entry!! Would you not lock in 20 or 10 or even 5??
I generally move to b/e after 40pips on 4hr/ Daily's. After that Im looking to move the stop behind some logical resistance areas rather than set pip amounts. Im especially willing to give this one some room to run given that the dollar appears to be getting slammed at the moment.
Ive locked in 1% on the USD/CHF trade. The s/l is just above some resistance which might be tested before a move down again.
Its been a miserable few days for the dollar!
The second chart is the AUD/USD 4hr. I had noted the close above the double top resistance however I managed to forget to place the trade. This is exactly the type of thing I am always looking for too. A breach of s/r, pause or retrace and then price continues. It would have been an awesome trade with a tight stop.
Its been a miserable few days for the dollar!
The second chart is the AUD/USD 4hr. I had noted the close above the double top resistance however I managed to forget to place the trade. This is exactly the type of thing I am always looking for too. A breach of s/r, pause or retrace and then price continues. It would have been an awesome trade with a tight stop.
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Won't be trading tomorrow. Market will likely be pretty thin.
Week 5 Summary
Total P/L (% account) +10.02%
Account start balance £1000
Week start balance £1102.75
End balance £1202.95
Total trades 2
Winning trades 2
Losing trades 0
Break even trades 0
Av winner 5.01%
Av loser n/a
Really good week, Im very happy
I haven't been adjusting my position size to reflect the larger account balance, but I will do that from now on.
Week 5 Summary
Total P/L (% account) +10.02%
Account start balance £1000
Week start balance £1102.75
End balance £1202.95
Total trades 2
Winning trades 2
Losing trades 0
Break even trades 0
Av winner 5.01%
Av loser n/a
Really good week, Im very happy
I haven't been adjusting my position size to reflect the larger account balance, but I will do that from now on.
