B
Black Swan
Love your laid back style 
, what's next on you radar..?
, what's next on you radar..?
SH-101
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Love your laid back style
Haha cheers
Just placed an order to sell GBP/USD at 1.4421, if-done stop 1.4594, if-done limit 1.4065.
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SH-101
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Sigh... just realised that I made an utterly idiotic mistake with the entry level this trade. A sort of smack-yourself-in-the-head-how-could-you-be-that-dumb mistake
My entry order should have in fact been placed some 15 pips lower and would not yet have triggered had it been in the right place.I'm going to hold on to the trade nonetheless as even despite the mistake there are enough reasons to believe in it, and even if stopped out I will still be over 9% up for the month. I may well still be interested in shorting this pair if it breaks to a new high.
SH-101
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Stopped out for a loss of -5% last night and feeling like a bit of a clown, although I consoled myself with a very nice curry in my local Wetherspoons
Gains for May knocked back to 9.17% - just shy of target.
Very revealing running this journal though. I've been trading professionally for a number of years and I've always been error-prone ( that's why I gave up daytrading - thought if I had more time to think about each setup I wouldn't make any mistakes!) but it's interesting to have my mistakes there in black and white, so that I can hopefully learn from them going forward.
Gains for May knocked back to 9.17% - just shy of target.
Very revealing running this journal though. I've been trading professionally for a number of years and I've always been error-prone ( that's why I gave up daytrading - thought if I had more time to think about each setup I wouldn't make any mistakes!) but it's interesting to have my mistakes there in black and white, so that I can hopefully learn from them going forward.
advfntrader
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is trading your sole income SH ?
SH-101
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Pretty much. I occasionally do some paid training/mentoring although that's been off the agenda this year and probably for the forseeable future.
advfntrader
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you must be using pretty large stakes to make a decent living using just these trades posted here I guess ?
SH-101
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Depends on your definitions of "large" and "decent" I guess
I don't make huge amounts but I make enough to be reasonably comfortable at this stage (I'm in my 20's, no kids, no mortgage etc) provided I can hit my average monthly target of 10%.
My average gain for 2010 isn't quite reflected in this journal as I had a very solid January and a highly profitable February (although naturally of course people may not want to believe such statements without the proof on here) so I'm actually running above my average monthly target so far this year even if my average gain from March to May on this journal is probably only about about 6-7%.
advfntrader
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ok understood. I take it you are banking your winnings and not compounding.
SH-101
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For now, yes.
SH-101
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Another possible short setup on cable if it can trade below 4550 but I'll be staying out anyway as I don't think the resistance is quite strong enough here. Wouldn't be surprised to see next stop 4650 actually - it would be a better short from above there.
SH-101
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Just amused myself with a miniscule 50p/point day-trade here while waiting for the England squad to be announced - short GBPUSD from 1.4639 with stop at 1.4663 - risking all of £12
Stopped out of that one - so ETX Capital get £12 of their own money back
SH-101
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GBP/JPY order yet to be filled but in the meantime here's the GBP/USD setup:
Longer-term downtrend shown by 60SMA and 20EMA crossed/pointing down with confirmation from 50-bar CCI crossed below zero, 4-hour bearish hidden divergence, 1-hour bearish regular divergence, fibonacci cluster resistance.
* Remember, these are not the actual indicators I use - rather they are approximations which show roughly the same data.
Longer-term downtrend shown by 60SMA and 20EMA crossed/pointing down with confirmation from 50-bar CCI crossed below zero, 4-hour bearish hidden divergence, 1-hour bearish regular divergence, fibonacci cluster resistance.
* Remember, these are not the actual indicators I use - rather they are approximations which show roughly the same data.
