Recent content by temerity

06-23-2006 Missed a good size down move before the durable goods release and then I bled to death being perfectly out of sync with the market. I think I will try trading less and be more selective in which trades I take. Down 54 pips (-$281).

06-22-2006 Held short trade started yesterday through unemployment claims that came in at 308k, 2k above expectations. The spread reached my target at 1.2560 but I didn’t get filled and I got out at 1.25715. If I stayed in I could have got 1.2560, but I would have had to hold it through the...

06-21-06 Useless day…I don’t even know why I did the first 4 trades…I need to learn how to stay out of the market if I don’t have if I don’t have a good reason for putting on a trade. Lost 26 pips ($155) over 5 closed trades. One trade held overnight; short EUR/USD from 1.26715. -26 pips...

06-20-2006 Faded the small down spike on the release of better than expected US housing starts. Exited with tiny profit when the price came back at me. I should have given it a little room. Second trade caught a tiny down move. Done with trading for the day because of computer problems...

06-18 & 19-2006 Trading started Sunday night with me fading a down move in the EUR/USD. I faded early and often being stubbornly stupid. I got a piece of the move back up but I was looking for a bigger move so I gave up some of the potential profit by giving the trade plenty of room. A...

Stops & Targets I have it set up so that a target of 30 pips and a stop loss of 10 pips are sent with the entry order. The way my broker’s trading platform triggers stop orders causes it to be 10 pips plus the spread, The orders are one cancels the other and contingent on the entry order...

June 16, 2006 The US Current Account came in better than expected but it only generated a 12 pip move against the Euro. For my first trade I went long at 44 after the retrace figuring on a test of 1.2680-1.2700 but the price came back down and I got out. Second trade I went long at 35 fading...

June 15, 2006 1st trade was selling the better than expected unemployment data, next several trades were buying the Euro after the TIC data came in weak. I was thinking that the Euro was heading to 1.2700. Down $152 on the day.

June 14, 2006 No trading today...slept in and was nursing a hangover all day.

June 13, 2006 Toxic day…the only thing worse than my trading was my complete lack of discipline that let me keep trading. I’ll add a marked up chart to this post later…don’t want to relive each trade right now. Down $440.50 for the day, account balance $1975.28.

Slept through an 80 pip move down during the first few hours of the European session. I figured today would be range bound due to lack of econ releases, so I was thinking that the high and the low had already been put in. Traded with a long bias. Gave too much profit back on the first trade...

Well technically you're right, they have forex charts; I just tend to want a little more info on the chart. The below example shows what the chart looks like...and this is during market hours and playing with the timeframe doesn't fix it like it can when non-forex charts are not working...

Weekend Research The Cleveland Fed provides an excellent explanation of how to use Fed Funds futures and options to predict FOMC rate decisions and they provide a nice end of day chart of the probabilities. Click on the charts for a larger view...

My broker has the initials I B. I don't like them but they were the only choice that filled my needs: ability to trade forex ECN & futures (shares and options too) and to be able to open an account as small as mine. They have charts for everything but forex and I use a front end so I don't...

Today’s trading started with the release of the of the US trade deficit. It was expected to be -65B but it came in slightly better at -63.4B, just outside of the expected range of -63.5 to -68.5. The reporter on the newswire I listen to follows the headline figure by saying that the details of...