Friday 6/13/08 Update

Friday the 13th....It's bad luck to be superstitious!

Well it was a good day. I was in two trades and both were positive. It puts me in positive for the week and again a new high for balance. Good stuff. Here is how it happened.

Today's Trades:

12:00am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD went from positive to negative. This was a valid entry. The entry was at the close of the candle at 1.9456 with a stop at the most recent swing high at 1.9486. Since I was only 6 pips 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 30. This put my initial target at 1.9426.
Entry: Short at 1.9456

Stop: 1.9486

Initial Target: 1.9426

3:00am EST- My target was hit. I had a limit order in so I got filled at 1.9426

5:45am 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 1.9452 with a stop at the most recent swing high at 1.9482. Since I was only 2 pips 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 30. This put my initial target at 1.9422.
Entry: Short at 1.9452

Stop: 1.9482

Initial Target: 1.9422

8:15am EST- Unfortunately my target was not hit by this time and since news was coming out at 8:30am EST, I closed out my trade. I exited at 1.9450.

Results: 2 trades.....32 pips....3 lots.....96 pips.

Here are the charts. Talk to you soon.

Thursday 6/12/08 Update

Crossovers? What's that?

The CABLE tanked again last night but the move started before midnight and once again never retraced enough to give me a crossover signal. It just dropped and dropped and dropped and...you get it.

I have one more day of trading this week. Hopefully I will get in on a positive trade and close the week on the upside.

Talk to you soon.

Wednesday 6/11/08 Update

Minor Hit

I took a small hit today. I actually had a feeling it wouldn't be the best trade, but again, rules are rules and I got in. Next bar I was out with a 21 pip loss per lot.

Today's trades:

2:15am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD went from positive to negative. This was a valid entry. The entry was at the close of the candle at 1.9534 with a stop at the most recent swing high at 1.9555. Since I was 34 pips away from the nearest 50 or 00 level, I decided to put my target at 1.9500.
Entry: Short at 1.9534

Stop: 1.9555

Initial Target: 1.9500

2:30am EST- Unfortunately I was stopped out of my trade.

4:15am EST- There was a signal here, but it was right before news so I did not enter.

Results: 1 trade....-21 pips...3 lots.....-63 pips

Here is what it looked like.

Talk to you soon.

Tuesday 6/10/08 Update

Sit here...keep it warm.....

It was another one of those days that kept me on the sidelines. The CABLE began it's decent late yesterday evening and it never looked back. Not a single spike to maybe give me hope that there would be a cross. So needles to say, not much was done with the system today. As you saw, I missed out trading yesterday (which would have been a positive day) so now I am two days blank for a 5 day week...hmmm. Let's see what tomorrow brings.

Talk to you soon.

CorbanFx Weekend Review 6/2-6/6/08

Yeah..I'm late posting but I wasn't around a computer.

Last week was good. We had 5 trades and 3 of them were postive. I didn't trade Friday or today (monday), so we will have a short couple of weeks but as long as they are up, i don't mind.

This week in trades:

Monday: 1 trade......+33 pips
Tuesday: 1 trade......-114 pips
Wednesday: 2 trades....+147 pips
Thursday: 1 trade.......+102 pips
Friday: OFF

Total: 5 Trades......+168 pips