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.

CorbanFx Weekend Review 5/26-5/30/08

100% Positive

It was a very good week for our system. Not only did we bat 100 but we reached and stayed at a new high to close out the month.

This week in trades:

Monday: Memorial Day No trades
Tuesday: 2 Trades.......+75 pips
Wednesday: 1 Trade.........+108 pips
Thursday: 1 Trade.........+30 pips
Friday: NO TRADE

Results: 4 Trades.........213 pips

Friday 5/30/08 Update

Stayed out!

There were a couple of crossovers today but I decided I was not going to trade any of them. I turned of my alarms and decided to close out the month with what I had. Silly? Maybe. But I don't care. Like I have said before, closing the month on a high has significant impact on the psyche for the following month, and I believe that the possibility of a few more pips is far outweighed by the invigorating knowledge that you achieved a goal. With that in mind I close out the month with a nice return, and go into next month with some room for draw down.

I will talk to you next month....or Monday for that matter.

Thursday 5/29/08 Update

30 more..

OK. The trade I did today started with 40 pips between entry and target as well as stop. It was around 12:30 when I decided that I simply didn't want to wait for 4 to close the trade, so I brought my stop down to 2 pips above my entry and set my target 10 pips away. At 1 pm it hit the 10 pips target and that was that. I will have to see what the end result would have been if I had waited till 4 pm, but, it's the end of the month and I just didn't want to end on a draw down.

Today's trades:

10:30am 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 1.9748 with a stop at the most recent swing high at 1.9800. Since I was 48 pips away from the nearest 50 or 00 level (1.9750), I decided to to set my target at that price.

Entry: Short at 1.9748

Stop: 1.9800

Initial Target: 1.9700

12:30 pm EST: It wasn't moving much and we were a little in the money so I decided to cut my risk to a minimum and hope for 10 pip gain.

New stop: 1.9750

New Target: 1.9738

1:00pm EST: Our target was hit. Trade closed.

Results: 1 trade....+10 pips.....3 lots.....+30 pips

Here is my chart.

Talk to you soon.

Wednesday 5/28/08 Update

New High!

Another good day. It seems to me that that last few days of the month always tend to be the ones that give us the nice profits...hmmm...Maybe I should just trade from the 20th to the 30th of every month. In any case, we made out with 108 pips today which put us at a new high in our balance.

Today's Trade:

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 1.9786 with a stop at the most recent swing high at 1.9800. Since I was 36 pips away from the nearest 50 or 00 level (1.9750), I decided to to set my target at that price.

Entry: Short at 1.9786
Stop: 1.9800
Initial Target: 1.9750

5:28am 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.

Results: 1 trade.....+36 pips.....3 lots.....108 pips.

Talk to you soon.

Check out my new charts...I just figured out how to do it with my platform!

Tuesday 5/27/08 Update

Final Push

It was another decent day for the system. We got in on two trades and were positive on both. Both times the news kind of got in the way and specially on the second trade, made me close the trades early, but none the less ended with 75 pip gain. Not bad for a Tuesday after a long weekend.

Today's trades:

12:45am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD was negative and gaining value.. This was a valid entry. The entry was at the close of the candle at 1.9817 with a stop at the most recent swing low at 1.9812. Since I was 33 pips away from the nearest 50 or 00 level, I decided to put my target at 1.9850.

Entry: Long at 1.9817

Stop: 1.9812

Initial Target: 1.9850

1:45am EST- My target wasn't hit by this time and I knew that news was coming out at 2:00am EST, so I closed my trade. I managed to exit out at 1.9837.

9:00am 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 1.9755 with a stop at the most recent swing high at 1.9782. Since I was only 5 pips away from the nearest 50 or 00 level (1.9750), I decided to go for the same amount of pips I was risking on the trade, which in this case was 27. This put my initial target at 1.9728.

Entry: Short at 1.9755

Stop: 1.9782

Initial Target: 1.9728

9:45am EST- My target wasn't hit by this time and I knew that news was coming out at 10:00am EST, so I closed my trade. I managed to exit out at 1.9750.

Results: 2 trades.....25 pips.....3 lots.......75 pips.

Today with such tight stops I really should have gone for more lots on each trade. I was only risking 5 pips on the first trade. I could have sold 20 lots and still been within the 2% rule max loss. Had I done that, the return would have been 400 pips!...but I am chicken and would rather err on the side of caution. Oh well...

Here's what it looked like.

Talk to you soon.

CorbanFx Weekend Review 5/19-5/232/08

Going up?

Ok..another week gone and though we didn't trade Friday we were still able to get a few pips for the week.

This week in trades:

Monday: 1 Trade......-168 pips
Tuesday: NO TRADE
Wednesday: 1 Trade......+129 pips
Thursday: 1 Trade......+87 pips
Friday: OFF

Results:

3 Trades........+ 48 pips

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

Friday 5/16/08 Update

Another day against the system!

Well, needless to say, by the title, you know I had a bad day. I don't mind having bad days as much as I do ending the week on a bad day. It's like having a great party and spilling wine on your shirt at the door! All you remember about the party is that incident. So too, all weekend, I will be moping about today. Oh well.

Today's Trades:

3:00am 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 1.9506 with a stop at the most recent swing low at 1.9452. Since I was 44 pips away from the nearest 50 or 00 level, I decided to put my target at 1.9550.

Entry: Long at 1.9506

Stop: 1.9452

Initial Target: 1.9550

8:15am EST- My target wasn't hit by this time and I knew that news was coming up at 8:30am EST, so I closed out my trade. I exited at 1.9487.

9:45am EST- There was a good signal here, but because it was right before the consumer sentiment report I did not enter.

You know there is something to be said about today though. This is the first time that I have been doing this where I get the exact results as the creator of the strategy. That works out well because I can just copy/paste from his blog without changing anything :)..To bad it was on a negative day.

Trade Results: 1 Trade...-19 pips...3 lots.......-57 pips

So here is what it looked like on the charts.

Talk to you soon.

Thursday 5/15/08 Update

Call tech support!

BAH! This is the best way to describe how I feel. BAH! Today there were a couple of crossovers and while I caught the first one which lost me 30 pips, I missed the next one due to the fact that my computer shut off while I was sleeping (some automatic update) and the platform was closed. BAH! The only positive thing is I got to sleep without interruptions for about 6 hours.

Today's trades:

3:00am 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 1.9458 with a stop at the most recent swing high at 1.9488. Since I was only 8 pips away from the nearest 50 or 00 level (1.9450), 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 1.9428

.
Entry: Short at 1.9458

Stop: 1.9488

Initial Target: 1.9428

3:30am EST- Unfortunately I was stopped out of my trade. Loss of 30 pips.

4:15am 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 but I was sound asleep and my computer was sleeping also so no alarm= no trade. This one would have gained 37 pips....BAH!

Trade results: 1 trade...-30 pips...3 lots....-90 pips

BAH! Here are the charts.

Talk to you soon.

Wednesday 5/14/08 Update

Two for Two!

It was an great day for our strategy today as we were able to grab 174 pips through 2 trades.

Today's Trade:

2:30am 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 1.9437 with a stop at the most recent swing high at 1.9474. Since I was 37 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9400.

Entry: Short at 1.9437
Stop: 1.9474
Initial Target: 1.9400

3:16am EST: Our initial target was hit and the price didn't make a clean break so I took my profit.

10:00am 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 1.9421 with a stop at the most recent swing high at 1.9449. Since I was 21 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.9400.

Entry: Short at 1.9421
Stop: 1.9449
Initial Target: 1.9400

10:41 am EST: Our initial target was hit and the price didn't make a clean break so I took my profit.

Trade results:

+37 pips...3 lots...+111 pips
+21 pips...3 lots...+63 pips

2 trades....+174 pips

So all in all we are back in the black again for the month.

On a separate note, today I really differed from PipSurfer in my trades. Normally I may differ by a few pips, or miss a trade that he makes or maybe even show a crossover that he doesn't or vice-versa. But this time it's as if we were trading two different strategies. While I was up a total of +58 pips per lot he was down -51 pips. Apparently I missed a trade (i hadn't seen it till now that I read his blog) at 12:45 which he took part of and lost 16 pips. The 2:45 trade he showed positive stochastics which canceled the entry for him. My chart showed it trending down so I entered for a profit. On top of that in the 10:15 trade apparently his bar didn't hit the target and he got stopped out for a loss. My target bar went as low as 5 pips below the target.

Weird.

Here are his charts

Talk to you soon.

Tuesday 5/12/08 Update

Money Management says "NO TRADE"

Well, today I can't say there was nothing going on. I can say, however, I did nothing. There were a couple of crossovers today. We had one at 1:45am when the trend was up, but stochastics and RSI didn't confirm so we stayed out of that one. There was another crossover a 8:45 am. This one was interesting. The UK CPI had come out at 8:30 am and was well above expectation. The initial reaction made the pair shoot up almost 100 pips in less than 10 minutes. At the open of the 8:45 bar the pair tanked heavily and created the crossover. This is where I had to make a decision. The trend was down at that point. The confirmation of the signals made it a valid short trade. But at this point the entry would have been 1.9484 and my stop would have had to be at 1.9586. That is a 102 pips stop which represents 2% on one lot. My profit potential was only 34 pips to the next 50 level and the weird volatility and irrational behavior of the pair made me decide that the risk reward ratio wasn't there. So I stayed out.

The pair did go down but we would have had to sell prior to the news hitting at 8:30 am and we would have made 18 pips.

I do not regret staying out of this trade. It was a decision based on market conditions and money management.

In any case, I know people who took the trade and they're happy with it. So be it. To each his/her own. All I know is there would have been no smiles if the pair moved the other way and killed you for 2% per lot.

Here are the charts and the way it could have been traded.

Talk to you soon.