my journal

[Yamato]

http://www.youtube.com/user/soundboardprankcalls

 

[Yamato]

http://www.youtube.com/user/soundboardprankcalls

 

[Yamato]

 

[Yamato]

 

[Yamato]

 

[Yamato]

 

[Yamato]

 

[Yamato]

 

[Yamato]

I've been trading like a madman. Short on the JPY just a few minutes ago. I am at 5k now, from 2700 less than a week ago!!! Yes, I am good!!!

Trading like a madman indeed, but using s/r levels, so things are going much better than they used to. Picking tops and bottoms just like I used to when I gambled, except that now I also wait for a s/r level to be reached, so it's working much better.

 

[j2a_aj]

Yo Trav,

What kind of money management are you following ?

 

[Yamato]

None, I am betting the farm on every single trade, without a stoploss even. But the bets are very reasonable bets.

Basically that's all there is to it: betting that an oversold/overbought price will bounce off s/r levels.

 

[j2a_aj]

So what are your open positions right now?

 

[Yamato]

2 LONG on the ZN (with stoploss at 116'075), and 1 SHORT on the JPY (without stoploss).

 

[j2a_aj]

booked a decent profit on the ZN? Nice!

 

[Yamato]

Yeah, just closed it again. But the JPY is kicking my ass.

Now I am back above 5k, and I doubled up on the JPY. If I get out alive of this crap, I'm done with gambling my way out of things.

Let me get to 6k, and I am done with this crap.

From now my bets will all have the stoploss, and will follow this principle:

Overstretched price is very likely to bounce off s/r levels at certain times of the day and to reach the opposite level.

I will write it in my profile.

 

[Yamato]

JPY going my way big time, and I officially just doubled my capital in less than a week (of course I must also add that I had previously lost 50% of my capital in just a few hours, on January 7th). Right now I am above 5400, and here, on January 7th, I was at 2700:
http://www.trade2win.com/boards/trading-journals/72598-my-journal-209.html#post1021868

The JPY is due for a huge fall now. Watch it. Go short if you get a chance.

I am going to be back at 6k at the end of today, and then I can really start relaxing for at least a few days. I will go LONG 2 ZN at the end of the day, or whenever we touch a support level. Then I'll sit on those two contract for a few days.

 

[Yamato]

Watch it... as soon as we get below 0.011000, the JPY will start falling pretty fast and straight down.

 

[Yamato]

All right, that's why i should only make 1 trade per day. I made a bit more money, but I totally lost my emotional balance and objectivity. I am feeling like god and the JPY is the first signal that I am not: it's not going where I said it would go. It's been rising all day, yet now it won't fall. It's just staying up there on top, and who knows if and when it will come down.

 

[Yamato]

Back with my 2 ZN, stoploss at 116'075.

 

[Yamato]

By the way, the JPY that I was so positive about did not go anywhere, and I closed it at breakeven, after waiting around in vain. I believe it was partly because despite everything being right for a fall, the time wasn't right. It will probably fall in one more hour.