Wednesday, October 31, 2007

Forex trading 10/31/07

It could have been much better. But it's not time to be too harsh to myself, my judgment can be false after big loses that I didn't recovered mentally yet.


Forex Intraday trading

Monday, October 29, 2007

Forex trading 10/29/07

I trade like I'm feed up with trading, like I don't want to trade but put me fast out of the game.



Friday, October 26, 2007

Forex trading 10/26/07

When I make exit before my stop is hit it's not good, I lost a lot of potential profits on eur/usd trades.
When I don't make exit on my stop it's way to a disaster with averaging and big risks for nothing like I did in usd/cad.
For all -1 pip today.

Forex intraday trading eur/usd
Forex intraday trading usd/cad

Thursday, October 25, 2007

Forex trading 10/25/07 II

When I take all the losses it's not so easy to trade LOL.
-16 +6 +4 +5+6= +5

Forex Intraday Trading

1/3 of the size; +4 full size pips
Forex intraday trading

Forex trading 10/25/07

Today I was all over the place trading not so good market to trade. But I guess that I was showing myself the power and strength that I can take normal stops without moving it and averaging. So with all this action and a loss of -10 pips for all I'm happy trader when I know that I can trade good winning or losing. Good trading is when you follow rules and don't get lost mentally.

I could wait for a proper stop of -12 not jumping out at -8 and get out on b/e or in a win because eur/usd is now about 15 pips up from entry without violating -12 stop level. How about that I was entering in the direction of the market in that moment, thats big plus for me also.
Forex intraday trading
Forex intraday trading

No breakout to the upside so honorable exit of +2
Forex intraday trading
Forex intraday trading
Well I should exit second trade when it was first in +15 profit and not allowing it to come all the way back.

Forex intraday trading

No bounce back, it's slow downtrend. Happy to take -3 loss when I was at the moment -11 pips down.

Forex intraday trading

Tuesday, October 23, 2007

Forex trading 10/23/07

I wasn't at home in the morning, the minute I got home I had to trade.
Good direction for +2 pips, than insanity.

Market reversed, I got out not on b/e but way in a loss (lot smaller than minutes ago). Market got to b/e and more, I started to short. Isn't a trend fighting interesting phenomenon. How do they say, cut your profits short let your losers run.
In the end I got few pips from last trades.

All in all -35 pips down the drain.

Sometimes I sit here in front of the screen and I don't trade but play casino games in the market. It's costly. It's not a business.
I don't want to talk about psychology there is no use for that. Looking to that nice chart with nice trend around that 65wma I wish that I sometimes do some "technical trading" not just "hope trading".

Forex Intraday Trading

Monday, October 22, 2007

Forex trading 10/22/07

First I wanted to short eur/usd at 334 but I repressed that idea. Then when down move materialized I was angry on myself because I would have profits if I took that short. From that state of mind I entered long for no apparent reason.
Bad thing is that I didn't take stop and than I averaged down. It finished ok, but this is the kind of trading that punish me the most. What if market just dropped more from 300 level where would I cut loss and would I cut loss?


Forex intraday trading
Forex intraday trading

I don't know what I'm doing today so better to stop. My risk:reward is not functioning in my mind. I trade in a way that I must make profit and it's not good. I risk way to much.
OK I have some idea about market action but I don't let myself option that ideas are false.

All this eur/jpy positions were full size. First position was 40 pips in red!! I can see that now and it's 3 times stop loss. No more trading for me today. It would be ok if I used 1/3 positions but no I was full size swinging and averaging.

Forex intraday trading
Forex intraday trading

Forex intraday trading

I was looking eur/usd and usd/jpy. Idea was that eur level of 300 will hold but usd/jpy was falling and it wasn't the plan, I expected it to bounce back from 113.90.

Funny thing was that I was toying with idea to short eur/jpy at around 163.04 10min before my long entry. But it's trade with the trend and I don't do that. Probably this long eur/jpy trades come from frustration with impotence of trend trading.

In the end with averaging exit was +13

Thursday, October 18, 2007

Forex trading 10/18/07

First trade is pretty stupid. I should catch 240 to 250 breakout because I was watching it and expecting. But no, I started to think that 240 breakout is too obvious so it will be a fake one, so lets short. It's usual me on act. It's obvious to everybody but it's not so relevant, it can't be hidden breakout any way so this breakout can be valid as any other.

On second trade I sure have a timing to get out. I left nice pips on the table on both of the trades.

Market is moving funny, I don't trade well today.

+3 pips

Forex Intraday Trading
Forex Intraday Trading


Forex intraday trading

Wednesday, October 17, 2007

Forex trading 10/17/07

I had to trade, but market is not moving really so better to not get involved. I entered gbp/usd short because usd started to gain strength on usd/chf which is the quiets pair whole morning. I thought maybe some real breakout is coming.
But after gbp/usd immediately went against me I was lucky to get out unbruised.

While I write this it's slowly moving down.

+4 pips

Tuesday, October 16, 2007

Forex trading 10/16/07 II

I'm laughing to myself. I got pumped up with market action and now I don't feel good that I got low reward and want more action. Things start to move ( I wasn't by the screen all the time) and around 165.60 I'm stalking eur/jpy again. Pair is falling and I think that it can't fall far, but I'm wrong. Off course I'm trading against the trend as usual.

Positions are 1/3 of the size. After finally eur/jpy moved my way I can't stand long because usd/jpy isn't acting very well. I got bunch of risk for +3 regular size pips.

I hope I will not try to trade any more today.

Forex trading
Forex trading

Forex trading 10/16/07

News say that there was some carry trade unwinding, it was crazy ride in eur/jpy or other yen related currency pairs.

It will be long time until I unlearn usual human behavior to doubt things and try to second guess. When it is falling I only think when will it stop and how will I get the up wave. I totally ignore the fact that it's falling now in the present and that If I simply sell now I will immediately be part of this. I thing in terms of future and next move and not in terms of right now. Maybe it's also because of unknown, I didn't understand what was happening. Because of that soldiers drill down their skills with countless repetitions so they do it automatically under the pressure.

First trade was worth +10 regular size pips

In second set of trades I started using 1/3 of position. First got stop out because I put stop to close. Thinks got crazy market dropped 100 pips in 6 minutes. I wasn't expecting any of that or being prepared. In one time I was -20 pips on all 3 last positions combined. I got out at around break even for +2 regular size pips. I could stay 1 minute longer for 25 pips but I guess I'm lucky even making profit in dive like that with taking trades on the long side.

Now when I look at chart I'm thinking what profits could I get if I shorted. I was thinking about shorting at 166.50. And than after first short just add new shorts and build position with no risk. Wishful thinking, but it could be worth few hundred pips. Just crazy.

I wish that I learn to trade with the trend so I could take full advantage of opportunity like this.

Forex Intraday Trading
Forex Intraday Trading

Monday, October 15, 2007

Forex trading 10/15/07

I really like this new time frame 1min is to slow for some stuff. Until I see it on 1min chart it's late for acting. It 's just the way I'm comfortable to trade.

First quick in and out of gbp/usd for +10 pips

Forex Intraday Trading

I was expecting that usd/cad will bounce back from that near 0.9700 level but it didn't. because of that I wasn't in the mood for staying longer in the trades. It could run down through 0.9700 in a second for 30 pips or something so better not to hang around.

In the end it didn't penetrate 9700 but didn't go very far either. It would be great to pick up that other long pips but it's ok with

+4 & +5 pips on my trades

Forex Intraday Trading
Forex Intraday Trading

That first trade in gbp/usd turned out to be shake down before uptrend. It looked at the moment like resistance 370 was holding and that downtrend will start. When something like that happens, fast unexpected fall, than you start looking for shorts. If you were looking long it's gone now, your mind is thinking differently now. Every uptick looks like just reaction and you just wait when will fall continue. It's than late when you realize, look there is uptrend suddenly.

Forex Intraday Trading
Forex Intraday Trading

Sunday, October 14, 2007

Forex trading 10/12/07

I was watching this ultra small time frame and I got to say that I like it. It gives a lot of info, bombardment with information. Than I can be busy deciding which is junk and which isn't.

First gbp/usd trade was for +3 and second +8 pips.

I wasn't trading much this last week but I was by the screen majority of the time. I had some scratch trades that brought in +3 more pips but they were miniscule so I didn't report them.

forex intraday trading
forex intraday trading
forex intraday trading

Wednesday, October 3, 2007

Hindsight learning 6

Forex Intraday Trading

Fibonacci retracement tests

Forex Intraday Trading

Hindsight learning 5

Forex Intraday Trading

Fast b/o always give enough candles to get some scalps in the direction of b/o, even when it's moved far from b/o. Than it's not false and fading the move is not good choice.

Very nice technical action.

Forex Intraday Trading
Forex Intraday Trading

After last test of down side of channel gbp/usd broke it in next 3 minutes. Than there was some consolidation below channel and not even attempt to get back in. Than very fast melt down.

Forex Intraday Trading
Forex Intraday Trading

Forex trading 10/03/07

I exited first trade totally too fast, I was thinking that it could brake resistance @80 so it was good entry, but it was fast entry fast exit.


Than in regret of that too fast exit I was thinking lets make a bluff and risk those 3 pips plus spread and see will it stop because of resistance from yesterday. It worked. I may have swing trading ideas but I like the most to scalp exit my trades so I take profits fast.


Forex Intraday Trading
Forex Intraday Trading

Tuesday, October 2, 2007

Monday, October 1, 2007

Forex trading 10/01/07 II

I'm glad that i trade more trades than usual, it's better to take opportunity and lose and get out on the stop than wait whole day and lose a lot on one trade that you don't want to get stop out.

Eur/usd I wanted +12 pips as much as I risked but in the end it's ok that I took +8

Usd/jpy is funny pair to trade the way it moves, I don't know it that well. Positions were 1/3 of the size (if I only on Friday done that) so the lose was never too big. Probably it will worth extra 10 pips but I didn't trade it well in the first place so +2 pips of full size

Forex Intraday Trading
Forex Intraday Trading

Forex Intraday Trading
Forex Intraday Trading