Trading with Price and price only

[jacinto]

been on holiday all of last week. just came back today. i love biarritz

have taken a short euryen 154.11........have moved my stop to BE......mmmmm....... but just closed for +25. i had no setup apart from a pullback which gave me an entry, so i guess i was just lucky.

 

[jacinto]

took a quick scalp long AUDJPY this morning for +60 pips in 7 minutes. just wanted to lock the profit ASAP and didnt want to wait for a pullback to raise stops. the setup can give more, so will wait for a proper pullback to go for more. this mornings trade was based on a 1 min chart for entry on breakout of 4hr setup.

Im looking for pullbacks to the 91.75 to 92.10 area for a new long and looking for 95.00 first and then 97.00. we shall see if this happens.

 

[jacinto]

Im looking for pullbacks to the 91.75 to 92.10 area for a new long and looking for 95.00 first and then 97.00. we shall see if this happens.

slight miscalculation of pullback .....so took -25 on an entry at 91.75. nothing else for me after that....still childminding, so not much activity. so the week is +25 (overnight) +60 and -25 for net +60, so wont complain.

 

[jacinto]

took an AUDJPY short and banked 50 pips. setup and trade posted in the currency thread. was looking for a big move down, but just got impatient and banked the profit. in hindsight, good i did, otherwise i would have ended with a breakeven trade.

so, the week is now +110 pips. so wont complain.

 

[jacinto]

today i got lucky i even turned a profit took +30. was eying an entry for AUDJPY, my child had to go to the loo and wouldnt accept nothing else than me standing there. when i came back, my entry was way gone, and the setup was on its merry way. didnt want to enter blindly, and didnt want to risk a deep pullback. instead, went for euryen. it was an expensive poo

euryen had a similar setup, as well as usdyen, but triggering and pulling back as i watched. bottomline is i entered, and completely forgot to use a target. just raised my stop and took the profit. i knew i wouldnt be on the trade long, as i had to take my kid to legoland. my trade was based on a 1 min chart.

im kind of scalping at the moment. dont really have the time to trade apart from early morning (child + breakfast + cbeebies = trading time ). cant complain. the week is already +60 monday +50 tuesday and +30 wednesday....so +140 ......minumum wage is paid

oh, the AUDJPY setup from yesterday and today is still valid. will post in next post later on. trendlines on euryen 1 min chart are equivalents to AUDYEN setup on 4 hr chart.....only AUDYEN was nicer

 

[jacinto]

must confess my stupity. took a short euryen at the high of a range, trading an opinion, without noticing what my setup was telling me, that the top i was calling was actually a breakout.

well, upset with myself, shorted instead of going long, lost, closed platform, and didnt think of a long. will reasess tomorrow. what an idiot. loss is not too bad, actually day is still positive, but still, mistake.

 

[brutusdog]

must confess my stupity. took a short euryen at the high of a range, trading an opinion, without noticing what my setup was telling me, that the top i was calling was actually a breakout.

well, upset with myself, shorted instead of going long, lost, closed platform, and didnt think of a long. will reasess tomorrow. what an idiot. loss is not too bad, actually day is still positive, but still, mistake.

j. hi m8.

making use of the season ticket again i see....

i too have gone back to the shorter time frames whilst keeping a lookout on the grand scheem of things i find it suits my personality to just get in and out to reach a daily target. since i dont have much time to trade due to work. i tried it on the longer timeframes and holding positions and although the signals i got from my system were good and there were plenty of points from the trades i didnt either hold the trades long enough or was compleatly stressed out by it. happy now to just hit 20 - 30 points a day for the screen time i have.

as for the mistake, i thinks its more anoying when the setup / system works but i dont trade it right cos then i have to take the blame...bummer.

anyway good trading this week and well done for fronting up to the mistake.

cheers bd.

 

[jacinto]

thanks for your comments brutus. expensive mistake though.

however seems to be my lucky day. just closed euryen long from 10 AM today for +155 pips .....kind of makes me forget of the other 100 pips i missed overnight

 

[rossored]

nice trade J. Shame that one wasn't on the charity account

I was similar to you last night with cable this morning. Was short and got stopped out. However, I reversed into it and am still long atm, +69 (yes yes - i should have run that on the charity account too )

 

[PKFFW]

Hey Jacinto,

Only just seen your journal. Loving it so far so yes please do keep posting.

Learnt alot so far and looking forward to more.

Cheers,
PKFFW

 

[jacinto]

Hey Jacinto,

Only just seen your journal. Loving it so far so yes please do keep posting.

Learnt alot so far and looking forward to more.

Cheers,
PKFFW

thanks for your comments PKFFW. To be honest, i dont know where have you learned something from me , so if it fails at some point dont come back to tell me it was my fault

seriously, thanks again for the comment.

j


IMHO, there will be an interesting shorting on yen pairs today and all of next week. will post chart later on

 

[jacinto]

well, got that short wrong.

my day started bad -15 on a euryen short, then worse -15 on a long, then even worse -15 on a new long.

then it improved and took +50 on a long. so a waist of time really.

 

[jiggly]

Jacinto,

Nice thread, and a nice trade on the eur/jpy, i beleive it is better you are in cash at present,

I have uploaded annotated charts on my take for the pair, for anyone who is interested in another opinion.

good luck to all and your comments are welcome.

 

[jacinto]

Jacinto,

Nice thread, and a nice trade on the eur/jpy, i beleive it is better you are in cash at present,

I have uploaded annotated charts on my take for the pair, for anyone who is interested in another opinion.

good luck to all and your comments are welcome.

hi jiggly,

thanks for your comments, and thanks for the charts too. i agree with your take of it. im off swings ATM and only scalping it. although i must say the scalps are good. in current conditions, an average well managed scalp can be giving a minimum of 50 pips per scalp

my take is in 4 charts (5th chart is described below), first is using daily closes only, next two are candles (1 and 4hr) on the current move up, with target, etc. fourth chart is my attempt at elliot wave (which i dont follow by the way, but just observe with amusement)

interestingly USDJPY appears to have respected the low in wave 1 on this move up (equivalent to the last EURYEN chart) so, we shall see.

i really have no views on it, and will only scalp when i see fit. no swings on my end, but this is moreless what i would see as a market map for the next couple of weeks given the current info i see in the chart.

good weekend, and appreciate your comments and your charts very much

j

 

[jacinto]

week 27-31 august

right, this week i will get time to trade fulltime (kind of, 10 to 4....should be enough).

im looking to trade:
a) AUDJPY tomorrow (see chart), depending on overnight action, wait for a pullback and go long....could get the minimum wage on a swinger here for 200 pips, or just jump in and out of the move as it unfolds, who knows, will see tomorrow
b) think i will pass trading EURJPY until tuesday.
c) may end up having a look into EURUSD, but dunno.
d) IMO, Cable may end up being rangebound until the US news, so dont want to be exposed to that without a clean setup

looking for other pairs to explore. may end up going for scandi crosses

 

[jacinto]

right, this week i will get time to trade fulltime (kind of, 10 to 4....should be enough).

im looking to trade:
a) AUDJPY tomorrow (see chart), depending on overnight action, wait for a pullback and go long....could get the minimum wage on a swinger here for 200 pips, or just jump in and out of the move as it unfolds, who knows, will see tomorrow
b) think i will pass trading EURJPY until tuesday.
c) may end up having a look into EURUSD, but dunno.
d) IMO, Cable may end up being rangebound until the US news, so dont want to be exposed to that without a clean setup

looking for other pairs to explore. may end up going for scandi crosses

no trades today. aussie yen at nice entry level, yet wont go in. not liking the price action at all. actually, in hindsight, should have shorted euryen, but had no clean setup to do it, so too bad.

till tomorrow.

 

[jacinto]

a really really bad day

today has been a terrible day for me, and the worst part, is that it is all my fault. It is the first day i can trade full time in a couple of months. think i have left on the table something like +150 pips.

the day starts at 7:30, look at the chart, and see the overnight bias short is broken (see chart), but have to take my 4year old to her summer camp at 830, so wait. I come back, see euryen makes a move and a pullback, have a look at audyen and it hasnt taken the overnight bias, so trade that one long. take +16 which is fine.

here is where it starts. the numbering below relates to the attached chart:

1) spot a "tricky" pullback testing the 4hr open from 9 AM @ 157.52, take a long @ 64, price goes immediately in my favour, and i move my stop to BE too quickly. BAD STOP MANAGEMENT: to be honest, i got scared i would get stopped out with a loss and left a free trade, that had a 50 pip target. I got stopped out, and upset. went out to calm myself down for my stupidity and lack of emotional stength.

2) after the target is met to the pip price pulls back and i spot a potential HS for a short with an entry around 158.00. computer too slow, platform freezing.....no trade (i am to blame because i havent installed a memory upgrade i bought some time ago ).

3) i restart computer, price comes and tests neckline. the 13:00 4hr chart is about to close. I wait for the close. I dont enter, dont want to enter there, lack of confidence. miss entry @157.80

4) price moves down fast and takes the new trend bias for the day (up trend). i am now waiting for a pullback to neckline and trendline. price moved fast, and i just jump in @ 157.58. prices goes in my favour, tests 40, i move my stop to BE, and get stopped out. i now expect a deeper pullback. computer giving problems again. price feed unfreezes and see price going down, I get upset, and go out again.

5) last go. price busts daily low, pullsback, and i just enter 157.15. price moves quick, computer slowing down, I am fed up, cant face a loss after such a crap day, manage to enter a stop at BE, computer freezes. when computer ok again, i see im doing fine with +30.....only to find out i was stopped out to the pip while computer froze. even more upset. close platform. end of day.

so, all in all a day in which no matter how sharp i am with price reading, if im not emotionally and psychologically focused i will make mistakes. I actually got lucky i didnt take losses.

Seems i still cant overcome the fear of loss. so there you go, a bad day, and i am particularly embarrased with myself.

 

[brutusdog]

today has been a terrible day for me, and the worst part, is that it is all my fault. It is the first day i can trade full time in a couple of months. think i have left on the table something like +150 pips.

the day starts at 7:30, look at the chart, and see the overnight bias short is broken (see chart), but have to take my 4year old to her summer camp at 830, so wait. I come back, see euryen makes a move and a pullback, have a look at audyen and it hasnt taken the overnight bias, so trade that one long. take +16 which is fine.

here is where it starts. the numbering below relates to the attached chart:

1) spot a "tricky" pullback testing the 4hr open from 9 AM @ 157.52, take a long @ 64, price goes immediately in my favour, and i move my stop to BE too quickly. BAD STOP MANAGEMENT: to be honest, i got scared i would get stopped out with a loss and left a free trade, that had a 50 pip target. I got stopped out, and upset. went out to calm myself down for my stupidity and lack of emotional stength.

2) after the target is met to the pip price pulls back and i spot a potential HS for a short with an entry around 158.00. computer too slow, platform freezing.....no trade (i am to blame because i havent installed a memory upgrade i bought some time ago ).

3) i restart computer, price comes and tests neckline. the 13:00 4hr chart is about to close. I wait for the close. I dont enter, dont want to enter there, lack of confidence. miss entry @157.80

4) price moves down fast and takes the new trend bias for the day (up trend). i am now waiting for a pullback to neckline and trendline. price moved fast, and i just jump in @ 157.58. prices goes in my favour, tests 40, i move my stop to BE, and get stopped out. i now expect a deeper pullback. computer giving problems again. price feed unfreezes and see price going down, I get upset, and go out again.

5) last go. price busts daily low, pullsback, and i just enter 157.15. price moves quick, computer slowing down, I am fed up, cant face a loss after such a crap day, manage to enter a stop at BE, computer freezes. when computer ok again, i see im doing fine with +30.....only to find out i was stopped out to the pip while computer froze. even more upset. close platform. end of day.

so, all in all a day in which no matter how sharp i am with price reading, if im not emotionally and psychologically focused i will make mistakes. I actually got lucky i didnt take losses.

Seems i still cant overcome the fear of loss. so there you go, a bad day, and i am particularly embarrased with myself.

if its any consolation i have been battling with a slow pc for a week while my mac is fixed and its made trying to trade a real pain in the ass. it seems that as soon as i either am about to place a trade it slows down or as soon as i get into a position it go's on strike as well...then after a while i'm not sure if its me being paranoid or the pc.

im sure a few drinks will give you a better perspective m8

 

[jacinto]

if its any consolation i have been battling with a slow pc for a week while my mac is fixed and its made trying to trade a real pain in the ass. it seems that as soon as i either am about to place a trade it slows down or as soon as i get into a position it go's on strike as well...then after a while i'm not sure if its me being paranoid or the pc.

im sure a few drinks will give you a better perspective m8

thanks brutus,

the drinks will help , but wont change the fact that the problem today was not the PC :-0 ........but me

kind of demonstrates the truth that succeeding as a trader is not only about understanding support and resistance and direction

 

[jacinto]

Getting my act together

got my act together, took the easy +70 pips on offer on the european open japan close interlap

can have a method here, need to back test. basically, a repeat setup to yesterdays morning session........err....big fall in the afternoon ?

the chart is there, got my act together, and got some quick profit. so happy.

now wait for the next "session" :cheesy: