Lord Tedders Futures and Forex Trading

New Blog

2010-12-02T07:56:00.000-08:00

I know there are still quite a few of you who pop in from time to time to see if I'll write anything new here.

I've decided to begin blogging again; however, it will be at a new home called Face This World.

The writing I do there is going to be a little different. I won't be discussing specific charts or setups. However, I will be sharing my story, talking about the mental hurdles every trader faces, collaborating and sharing stories of other inspiring bloggers and traders, and showing how I'm trying to take my trading to the next level.

You can expect I'm going to get a lot more personal, as part of that I'm giving up the LT persona. It was fun while it lasted. Lord Tedders signing off...

Sincerely,

Edward Heming

Blog on hold

2010-07-06T14:06:00.000-07:00

For those of you who still poke around here occasionally, as you've probably noticed I am not actively blogging. I didn't want to put together an elaborate going away post since I've done that before only to change my mind. I am still trading and reaching out to other traders locally at meetups; however, I don't intend to blog for the foreseeable future. Best of luck to all those still moving through their trading journey.

7-7-09

2009-07-07T05:15:00.001-07:00

Here was a USDCHF trade initiated yesterday. +52 pips on 10k.

LT

Changing things up

2009-07-01T08:17:00.000-07:00

As some of you may have noticed I've been posting sporadically recently. Honestly I haven't been satisfied with my short term trading results and have been skipping trading some mornings.

I'm going to take a break from scalping for a bit. As such I won't be posting results every day (at least for the near future), however, I will post some of my swing trades as they come along.

LT

6-24-09 Sticking to one thing

2009-06-24T07:01:00.000-07:00

Well its pretty obvious, but the currencies as well as other markets have been pretty choppy recently (must be the low volatility).

As such I'm not seeing much bang for my buck when it comes to trend continuation and breakout moves. For now I'm gonna stick to fading the chop. And for those who are worried yes the first position on a couple EURUSD trades was averaged. But I had a hard stop in (just decided since we are in a noisy place in the markets right now it wouldn't hurt to avoid the noise).

-4 pips on 50K

LT

6-23-09 Fighting the chop

2009-06-23T07:11:00.000-07:00

I didn't seem to get the picture this morning - we are in a chop zone still. Had several attempted trend continuation trades on both the EURUSD and USDJPY that didn't pan out. Finally got the "news" and started scalping some solid reversals.

-7 pips on 50k

LT

6-22-09 Slow day

2009-06-22T06:52:00.000-07:00

Not a whole lot going on this morning. +8 pips on 50 k.

LT

Not feeling great

2009-06-16T07:48:00.000-07:00

Haven't posted here in the past couple days cause I haven't been trading. Been feeling sick and since I am making a trip to LA this upcoming weekend I'm trying to get better. I may trade later this week or not depending.

LT

6-12-09

2009-06-12T07:14:00.000-07:00

A very quiet Friday morning that was pretty choppy. Should have picked up on this earlier and not gone for the breakout trades, but otherwise not much to say.

-6 pips on 50k.

LT

6-11-09 Taking trades in all the wrong places

2009-06-11T07:08:00.000-07:00

Well I won't be buying the wife any jewelry today, but I definitely managed to do everything else wrong.

The biggest problem was missing out on the run in trade number 3, although I exited based the correct price action at the time. This would have been worth +20 if I'd been able to hold it.

Otherwise just a tough day for my setups. -24 pips on 50k.

LT

6-10-09 TheTrading Idiot

2009-06-10T07:11:00.000-07:00

The average loser strikes again! How many times do I have to average to realize it's not helping my trading?

Second trade on the EURUSD was averaged. Entry wasn't valid (why did I take it again)? Also missed two winning trades while managing this one.

Like Mark Douglas says I haven't accepted the risk of my losers. Ironically this is causing me to lose.

So after reviewing the morning trades I'm doing something I haven't had to do in a few years. I am reinstating the trading idiot mode. As apparently I no longer have the ability to protect myself from myself. So idiot mode goes like this. For the next 60 trades if I fail to follow my trading rules (such as no averaging) and purposefully pull a stop, take a trade I shouldn't or even not take a trade I should my wife gets a new $1,000 piece of jewelry. The wife will be checking the account statements every morning to ensure that I follow the rules. Eventually I will learn to trade by my rules or the wife takes my trading account piece by piece.

+2 pips instead of +15

6-9-09 Failure to Focus

2009-06-09T07:12:00.000-07:00

Well this morning definitely proved that I didn't have my brain turned on.

First trade was taken prematurely and incorrectly.

Oh boy. Second trade should have been a short on the USDJPY instead of the EURUSD. Got myself in a bit of a spot there and missed out on a 20 pip move on the USDJPY. REMEMBER KIDS ALWAYS CHECK WHICH MARKET YOU ARE ACTUALLY SHORTING!

I'm not going to mention the other trades as they were fairly inconsequential and were taken as they should have been.

Overall -7.0 pips on 50K

LT

6-8-09

2009-06-08T06:55:00.000-07:00

Overall this morning there is a lot less volatility than Friday (no surprises there), however, the pace and tendency for the majors to range are well suited to my scalping setups.

Basically easy trading this morning which is why I don't have a lot to say about it. If only everyday were as easy.

+16 pips on 50k

LT

Ok FX this chart is for you.

6-4-09 Changing up my posts

2009-06-04T06:43:00.000-07:00

I've decided to post less pics and more description of what I did. Still will post blotter, but not sure if there is much value in posting a chart (since it only shows the last 30 min on the timeframe I trade - 1 min bars).

Had problems with Oanda for first 45 minutes. No trading.

Spotted one valid breakout trade during this time that would have been -6 pips

Second trade was a #6 on the USDJPY for +5.6. Trade taken correctly within the rules.

Third trade sequence on the EURUSD was a valid reversal signal. Oanda froze up on me so I added to get out at scratch. Got lucky and the market tanked and let me out with a nice profit.

Fourth trade - gah. Not even a valid setup by the rules, compounded error by adding. Should have just gotten out. Yeah it didn't cost me much. But I am pissed at trades like this. Need to stop averaging...

Of course as part of this fourth trade sequence a valid signal was missed - was a winner - of course.

Fifth trade, scratch as I didn't like how much we had retraced.

Sixth trade, taken correctly, winner.

Conclusion - 1 breakout - would have been a loss but missed
3 #6 reversals - 3 winners - took 1
3 reversals - 2 taken. 2 winner 1 loser (missed
a winner)

Net pips should have been +15, was actually +29.

However, I'm not pleased. Averaging is what produced those numbers. And while that may work fine on a day like today you can quickly get burned when the market gets into a steady trend.

6-3-09

2009-06-03T07:07:00.001-07:00

Funky slippage this morning on the last trade. Not too pleased with how I gave back earlier wins.

-3 pips on 50K

LT

6-2-09

2009-06-02T07:38:00.001-07:00

Not much to say this morning. The EU and UJ varied between chop and stair step most of the morning.

+14 pips on 100k.

LT

6-1-09 Back to work

2009-06-01T07:12:00.000-07:00

So as you may notice from today's charts I've changed things up a bit. Still using basically my system but have added some "new" indicators and decided to add the USDJPY to my lineup. The new indicators don't really tell me anything different, but give me an idea of the intensity of the trend. Made a few good pips last week in Cabo, and hope to keep up the pace.

+27 pips on 100k this morning.

LT

Just Another Day in Paradise

2009-05-27T20:02:00.000-07:00

Made my taco money this morning and just hanging at the pool.

Avery and a few other folks are here in Cabo to trade and have fun.

LT

5-26-09 Trading from Cabo

2009-05-26T08:48:00.001-07:00

Enjoying the sun and the sand here in Cabo. This is a view from Avery's unit (I'll post mine later once I get my camera setup).

A very relaxing day for +10 pips on 40k.

LT

5-22-09 Slow and steady

2009-05-22T18:36:00.000-07:00

As the Euro slugglishly moved up this morning was able to grab 13 pips on 40k

LT

5-21-09 Back in the chopper

2009-05-21T07:06:00.001-07:00

Sideways from London on. No trades.

LT

5-20-09

2009-05-20T07:07:00.000-07:00

Just one solid trade here this morning on a very strong Euro. +15 on 40k.

LT

5-19-09

2009-05-19T07:09:00.001-07:00

Caught the end of a retracement on the Euro this morning for +4 pips on 40k.

LT

5-18-09 No trades

2009-05-18T07:12:00.001-07:00

No trades this morning.

5-14-09 No Trades

2009-05-14T07:29:00.001-07:00

Pretty slow this morning, no trades.

LT