Thursday 5/22/08 Update

The comeback trail.

Another good day as I was able to snag 87 pips from the cable. We are back in black and hopefully now we will end the month with a strong push to get us back to our average pips per month.

Today's Trades:

2:30am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD went from negative to positive. This was a valid entry. The entry was at the close of the candle at 1.9721 with a stop at the most recent swing low at 1.9697. Since I was 29 pips away from the nearest 50 or 00 level, I decided to put my target at 1.9750.

Entry: Long at 1.9721
Stop: 1.9697
Initial Target: 1.9750

3:00am EST- My target is hit.

4:30am EST- There was a signal here but because it was a news candle, I did not enter.

Trade Results:

1 trade.....+29 pips......3 lots......+87 pips.


Here is how it looked. You will notice that on the charts, pip surfer showed the crossover at the 2:45 candle. So he entered on 15 minutes after I did and so he got executed at 1.9734. I actually got 13 pips more than he did today.

Talk to you soon.

Wednesday 5/21/08 Update

Finally!



OK, so by now you've figured out I had a positive day. Well it was about time! Anyway we had one crossover and it took a 2 hrs and 15 min to get out of the trade but...it was worth it.



Today's Trades:



11:15am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD went from negative to positive. This was a valid entry. The entry was at the close of the candle at 1.9657 with a stop at the most recent swing low at 1.9610. The next 00 level was 43 pips away. This put my target at 1.9700.


Entry: Long at 1.9657

Stop: 1.9610

Initial Target: 1.9700


1:45pm EST- My target is hit. Fortunately because news was coming out at 2 pm and I would have to get out anyways.



Result: 1 trade...+43 pips......3 lots.....+129 pips.



Again I differed from pipsurfer in that I got in one bar later. This made a difference because the price he got filled at was 1.9646 which was 4 pips below the 50 level. So he put his target at the amount he was risking. And therefore got out at 1.9682. He made a 37 pips profit as opposed to my 43 even though he got in 11 pips below me. Strange...but true.



I can't stress enough that no two traders will ever have the same results even if they trade exactly under the same rules. Interpretation is a difference that lies in the eye of the trader.



So here are the charts for today.



Talk to you soon.

Tuesday 5/20/08 Update

By not losing we are getting over the streak!

It was a quiet day for this trading system as I was not able to get into any trades. On a positive note, considering the last 3 trading days, at least we didn't lose today. A sure sign of the changing tide. I am looking forward to the slew of positive trades that are coming.....hey, a guy can be hopeful.

Anyway, there was a crossover at 12:15 am but the confirmation wasn't there as MACD was already negative. The rest of the night was quiet.

This is what the night looked like on the CABLE. As you will see, it started soaring and i still hasn't stopped. Hopefully we will get in on a ride like that tomorrow.

Talk to you soon.

Monday 5/19/08 Update

I'm not happy Bob....NOT HAPPY!

It's three of three for the last trading days that we've taken a hit. It's disheartening to see, and while I know the stats say not to worry, I can't help but get upset. There was 2 crossover today's and I missed the first one. It was a losing trade so I figured that the next one would be good. Nope the second one was a loser to. This is how I traded today.

Today's Trades:

4:00am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD went from negative to positive. This was a valid entry. The entry was at the close of the candle at 1.9597 with a stop at the most recent swing low at 1.9541. Since I was only 3 pips away from the nearest 50 or 00 level (1.9600), I decided to go for the same amount of pips I was risking on the trade, which in this case was 56. This put my target at 1.9653.

Entry: Long at 1.9597

Stop: 1.9541

Initial Target: 1.9653

8:00am EST- Unfortunately I was stopped out of my trade.

Results: 1 trade.......-56 pips...........3 lots......-168 pips.

Here are the charts for today. They include the trade that should have happened earlier.

Talk to you soon.

CorbanFx Weekend Review 5/12-5/16/08

By the skin of our teeth.

The week started out slow as there were no trades until Wednesday when we pulled in 174 pips in 2 trades. Unfortunately we gave back most of it back in the next two days with losses totaling 147 pips. But at least we are now positive for the month. By 6 pips!

This week in trades:

Monday: NO TRADE
Tuesday: NO TRADE
Wednesday: 2 trades.....+174 pips
Thursday: 1 Trade.....-90 pips
Friday: 1 Trade.....-57 pips

Total: 4 Trades.......+27 pips