Latest Forex News

2013-09-10T02:27:00.001-07:00

Looking back I might have been good with Trading in the Zone, I've forgotten what the trading plan was for those Trades, if I join it with a Price Action trading plan and larger time frames i.e daily, I should have something here.

I need to go find the book and re-read it

1st Price Action Trade

2013-09-10T02:20:00.000-07:00

There's a n inside bar two days before the trade, I tried for a R2 based on a 100pip risk.

First of all I actually put it on 10 pips risk and got stopped out for a dollar because this account is 5 decimal places.

I jumped back in again risking $10 like the other account.

Trade plan followed in that it was set and forget, maybe not a perfect setup however.

Should just wait for pin bars on the daily maybe?

Marina's EURJPY

2012-04-22T13:53:00.000-07:00

So this analysis is all Marina's, based on wave counts and the AO indicator

1st EUR NZD

2012-01-19T12:40:00.000-08:00

I should probably pay more attention to this pair.

I saw this setup before I went to bed but was scared of being wrong because of the previous trade on this pair:

I got in too early on the previous trade (even though I was right I was still wrong).

It looks like the Fibs held in this instance, on the previous trade I drew my fibs in the wrong place and looked for a continuation of the trend.

We've come to an all time low and bounced a little bit.

I need to learn market sentiment

don't let a winner turn into a loser!

2011-12-20T12:18:00.000-08:00

I missed out by 1 pip, but could've caught it at $3 positive (I moved my stop closer) and then at .30c when I should've closed out.

I t was one of Dom's calls that I modified because I got in late

TITZ:3 I bottled it and missed out on 200ish pips

2011-12-15T13:25:00.000-08:00

I entered at a good spot 1.5462 anticipating the move up, My stop was at 1.5429, price came close to my stop which was just below the 200 MA.

I could start to see a downward slope starting to develop, which spooked me and I resolved to get out the next time price came up to my entry.

I got 1 pip out first and then took the other 2 10 minutes later instead of riding the ulcer roller-coaster.

Lost Opportunity is better than lost capital, but this opportunity would've had me back at break even (grr).

I must hold fast to my convictions and have confidence in the analysis.

TITZ:1 GBP AUD

2011-12-12T19:42:00.000-08:00

The 1st trade following the TITZ test,

Be Bold - be consistent and disciplined, go in 3 lots and scale profits out.

Although Scaling out is not how Grant does it because in general you don't scale out losses.

I can't remember why I chose to Sell, maybe 'cause the curve was leveling out and it looked like the 23% would hold as resistance, anticipating a continuation down.

On the 5 minute you can see some strong momentum down which would have encouraged me.

I held the stop open to see if it would bounce, which was a test on discipline.

TITZ:2 GBP AUD

2011-12-12T19:31:00.000-08:00

Kind of a coin toss, I saw the 15m bounce off the 200, it was a 23% retracement and in the direction of the shorter trend (Bullish), I couldn't find any divergence and was leaning to Sell until I figured that would be counter-trend.

I saw 25pips looked to be the harmonic number on the 1 Hour.

I went in with .03 lots with the idea of scaling out once I had $5 profit and managed to take $1.80 and then put a trailing stop of 20 on it.

I didn't put a TP but was looking at the previous (yesterday's) peak as a Target. I walked away and missed the top.

When does "If not monitoring, place 1:1" apply?

I put the stop at 45 points, a little less than TITZ:1 which was 50 ish.

The 2nd 2/3rds closed out 1 pip less than the 1st 1/3rd.

GBP AUD missed by 3 pips!

2011-12-06T12:25:00.000-08:00

I saw a support line forming around 1.5209 which was also near the 78 fib retracement and possibly a 23% on an smaller move.

I also found a slim divergence on the AO by about 20 points.

I knew it was a tight stop, thinking the support line would hold or it wouldn't - but I think support lines are a bit more fuzzy

The GB PMI came out positive and there was a very short spike at 22:28 but by 22:30 it was back to normal and started to go down.

I was thinking the PMI might pull it up, but it didn't, so I left it - I could've/should've closed out for a couple of pips loss but went to bed instead.

AB was anticipating low AU Bank numbers and for the AUDUSD to drop (and it did for 2 hours but returned in 7), which was probably the cause for my failed trade to go 1:2

GBP AUD

2011-11-30T13:04:00.000-08:00

I wanted to jump in on a long so I could ride to the top 600ish away.

I jumped in and ended up 140 up, which was probably the end of wave 5, I held on for more and got retraced to my opening, (shoulda moved my stop or taken the profit?) and then opened another long full of confidence.

As I was going to bed I put 1 of them 1:1 and came out on top.

Over the Thanksgiving weekend, Belgium got downgraded which may have been the cause for the week opening to be so low and got stopped out.

Most previous Monday's have opened closely to the close so I wasn't anticipating a gap.
AB says the phoenix has only worked once in the last 4 times this year when the gap was more than 100.

GBP USD

2011-11-30T12:46:00.000-08:00

I noticed the up trend line and thought the candle had broken through it, along with a slim divergence on the AO.
Sentiment was generally Bearish so I was gonna join in,
but the FED and central banks all got to together and shared USD to EUR which weakened the USD and sent everything else up.

http://online.wsj.com/article/SB10001424052970204012004577069960192509068.html

Actually looking back there was convergence of a 50 and 61 fib level for support to go up.

Am I looking for evidence to support (ill) preconceived sentiment rather than what the charts are saying?

complicated reasoning

2011-11-11T23:47:00.000-08:00

I went short because AB was keen for it,

I left it overnight without a TP - I shoulda set it to 1:1 or 1:2 and been happy, greed played a factor as to why I didn't.

The next morning LTG were anticipating the return to 200 and to renter short.

I missed the re-enter but had moved/increased my stop so was still in and now more hoping it would drop.

Previous price movements didn't look likely to drop to me so I was relying on Fundamentals to come true.

the 1st one

2011-11-07T12:39:00.000-08:00

I picked this one on my own.

I think on the Daily it was just coming back under the 50 EMA and I could see the engulfing candle forming on the 4H.

I went for a 1:1 because I was going to bed and it all worked out :)

Could've gone 1:2 but that wasn't the plan.

Gotta add the spread!

2011-11-07T12:31:00.000-08:00

I missed out by 2 pips (on the sell price)! If I had of included the spread difference it would have worked :(

Last Time BOJ Intervened

2011-10-31T14:12:00.000-07:00

Last time was 3rd August and the USDJPY gained 330ish pips and within 5 days was back where they started.
This time round it gained 400ish pips, how long will it take to return to 76.0?

When the Swiss bank stepped in

2011-10-31T13:48:00.000-07:00

2011 - 09 -06

I didn't know what was going on and later found the EURCHF was to be fixed at 1.2.

right place right time :)

Going to bed = 1:1 TP

2011-10-31T13:44:00.001-07:00

If I can't watch the trade and move the SL then I must set a TP of 1:1!

i think it's going to go down

2011-10-14T00:32:00.000-07:00

trying 2%

2011-10-05T14:20:00.000-07:00

I jumped in on Big Es entry for the Sell. There is definitely a bullish trend but within a channel.

I found the channel after I was in the trade and then looked for support of my trade. The spike was a breakout of the channel, I did find some Fibnode support which is where I put the Stop Loss and I pushed the risk to 2% to give it some breathing room.

The breathing room lasted most of the night but I guess fundamentals or something else pushed it over.

Find more support for the trade before I get in, not after.

playing chicken with the Euro - 15023114

2011-10-03T13:44:00.000-07:00

This was also only 56 pips against me on the tallest bar and I'd be 156 pips up by now

listening to AB - 15023555

2011-10-03T13:40:00.000-07:00

So this was 56 pips against me to the top of that pin and I'd be 85 pips up by now.
I closed this one manually after an earlier AUDUSD trade got taken out on a 25 pip Trailing Stop.

Shoulda held fast and trusted AB's call

A missed opportunity

2011-09-26T14:11:00.000-07:00

Ticket Open Time Type Size Item Price S / L T / P Close Time Price Commission R/O Swap Trade P/L
14984515 2011.09.20 07:57 buy 0.01 audnzdfxf 1.2476 1.2446 0.0000 2011.09.20 13:47 1.2446 0.00 0.00 -2.41

I stuck with my 1% Stop Loss rule, and got taken out. If I had been brave and used 2% I could have been in longer and made some cash.

But because it was soon after the 2 big losses rules needed to be followed.

15005881 - Daring the Euro

2011-09-26T13:52:00.000-07:00

I waited for the 3rd candle on the 1 hour to be bullish and stepped in following Big E's method.

The stop was greater than the TP so the risk/reward ratio isn't to hot but I didn't know how high it would go (who does?) and therefore where to put it.

I figured ti's make the .618 so put it just above, in the end it nearly made the 100, but I had to go to bed and couldn't monitor it.

Fools rush in

2011-09-14T15:58:00.000-07:00

Sold in a rush at the end of the trend.
On the Monday everybody else was selling in a frenzy so I did too, the spread widened to around 20 from it's usual 7 ish.

Covel's book says it's alright to jump in at the tail, because you don't really know if it's the tail until it's over.

This goes against Big E's method (Trading Made Simple) which has been going ok (overall slightly positive).

Convinced of the fundamental Greece default and inevitable weakening of the EUR.
This trade was in along with a EURUSD - combined they hit 10% of total equity (-$40) so I had to pull one of them.

Still waiting on Sive's prediction for the EURUSD to drop

First thing Monday Morning probably isn't best

2011-09-04T21:15:00.000-07:00

fuckit - shoulda held the planned stop loss at 70