Heads Up!

Just want everyone to know that I will not be trading tomorrow Friday. I have some family endeavors that I must attend early in the Morning. I will however post Charts for tomorrow as per Pip Surfer trades if any so you have a point of comparison. However, whether the performance is good or bad, I won't be trading it, and so it will not go towards my performance.

Take care.

Thursday 6/5/08 Update

It keeps going and going.

Another positive day. for net 102 pips. Looking good.

Today's trades:

2:00am EST- There was a moving average crossover for a short trade. However, stochastics were still trending up which cancelled out the signal. I did not enter on this one.

3:45am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle at 1.9501 with a stop at the most recent swing high at 1.9535. Since I was only 1 pip away from the nearest 50 or 00 level, I decided to go for the same amount of pips I was risking on the trade, which in this case was 34. This put my initial target at 1.9467.

Entry: Short at 1.9501

Stop: 1.9535

Initial Target: 1.9467

5:45am EST- My target was hit. I had a limit order in place and it got filled at 1.9467

Results: 1 trade...+34 pips....3 lots....102 pips.

Here are the charts.

Talk to you soon.

Wednesday 6/04/08 Update

Very Nice!

Two trades. My first trade I believe was my most profitable in one trade since I started this blog. 201 pips! unfortunately I went on to give back 54 of them on the next trade..but still, 147 pips to close out the morning is not at all bad. And it isn't even noon yet...I am early!

Today's Trades:

1:15am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value.. This was a valid entry. The entry was at the close of the candle at 1.9617 with a stop at the most recent swing high at 1.9736 . Since I was 17 pips away from the nearest 50 or 00 level (1.9600), I decided to to set my target at that price.

Entry: Short at 1.9617

Stop: 1.9736

Initial Target: 1.9600

2:00am EST: My first target was hit, and because I learnt from yesterday's mistake I waited to see if it made a clean break. It just kept going so I put my stop at 1.9600 and set a new target of 1.9550

New target: 1.9550

3:20am EST: My second target was hit and I exited the trade at 1.9550

When I moved my stop I never thought it would hit my second target so I set a limit order and just went to sleep. I woke up when my Alarm sounded telling me something was filled and my first thought was..."oh well, so I got stopped out for a 17 pips gain per lot" It was a moment of joy to see I hit the second target.

7:15am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value.. This was a valid entry. The entry was at the close of the candle at 1.9545 with a stop at the most recent swing high at 1.9578 . Since I was 45 pips away from the nearest 50 or 00 level (1.9500), I decided to to set my target at that price.

Entry: Short at 1.9545

Stop: 1.9578

Initial Target: 1.9500

8:00am EST: News was coming out at 8:15 so I had to close my trade at the end of the candle. I got filled at 1.9563.

In retro, I should not have gone into a trade with less than 1 hour before news. I guess I just thought everything was going my way. Thank you Trade Gods for keeping me humble.

Results: 2 trades......+49 pips...3 lots....+147 pips

Here is my chart for the day.

Talk to you soon.

Tuesday 6/03/08 Update

Awwwww...and we were doing so well!

It wasn't the best day for me as I lost 38 pips per lot today on 3 lots. You know, I looked at the trade and I didn't like it from the get go. Again I jumped in because the signals were there and I don't want to fall into the habit of picking and choosing which trades I take because that would render the whole strategy pointless. But, that being said, I am starting to get a better "feel" for which ones will and which ones won't work out as well.

The trend was down all day as you can see, so I was only looking for short trades.

Today's Trades:

2:00am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value.. This was a valid entry. The entry was at the close of the candle at 1.9614 with a stop at the most recent swing high at 1.9652 . Since I was 14 pips away from the nearest 50 or 00 level (1.9700), I decided to to set my target at that price.

Entry: Short at 1.9614

Stop: 1.9652

Initial Target: 1.9600

3:57am EST: Unfortunately, I was stopped out of my trade.

Results: 1 trade....-38 pips....3 lots....-114 pips

At 9 am there was another crossover, but since Bernanke was speaking I decided it was the same as a news candle, and didn't jump in. I wouldn't have hit my target anyway, but I would have exited the trade by 4 pm for a small gain.

Here are my charts with the entry and exit bars.

Talk to you soon

You can see I bought at the absolute low and the trade went against me immediately!

My stop got hit!

Monday 6/02/08 Update

Is good, good enough?



Today I made 11 pips per lot. Apparently I did something wrong because pip surfer got 53. I am going to include my charts and his so you can see how we differed.

The trend remained down all day as you can see below.





Today's Trades:



1:45am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value.. This was a valid entry. The entry was at the close of the candle at 1.9711 with a stop at the most recent swing high at 1.9742 . Since I was 11 pips away from the nearest 50 or 00 level (1.9700), I decided to to set my target at that price.



Entry: Short at 1.9711

Stop: 1.9742

Initial Target: 1.9700



2:37am EST- My target was hit at this time and I. I should have waited to see if it made a clean break, but I was out and then it kept going down. Oh well. I'll take it.



Result: 1 trade....11 pips....3 lots....33 pips.



Here is the chart for my trade:






Now the first difference between our two trades is that he got in at 1.9708..so he would obviously go for the amount being risked which was 34 pips. The next difference is he waited for the clean break and was able to stay in the trade for an extra gain..

In my case, what I needed to do was one of two things: a) set my target for the amount of risk or b) waited for the clean break. That would have made me a great deal more pips. Oh well...here are the charts of how it could have looked.

Talk to you soon.