bored? ... read on

well what a crappy boring day today - even the 1 min is out of action.

so been having some fun looking around for games to play - this is brilliant!! - ca you keep the drunk on his way home?

http://www.themitchellbrothers.co.uk/excusegame/site.php

New Week

last 2 days signals of last week - sorry for the dealy just was too busy.

lets recap on my prediction last week (he says smugly )

i said on tuesday that cable would go for 1.7990 (actual 1.7960) then up to 1.8150 (actual 1.8148) then down to new lows (made new lows)

all of those 'predictions' or guesses were based on the longer term hilda charts.

I'd like to say i could get it right twice on the trot but the longer term charts arent as clear this week - ill take a stab though.

the 4 hour suggests a possible retrace to 1.7910 ish by tomorrow although the daily and weekly still look strong for downside so new lows should follow any lift. Possible lows of the week 1.7350 - highs 1.8120.

cant be any more precise than that this week im afraid so time will tell.

Site Launch

Good early session today with some crystal clear signals as shown above.

Interesting to note that one guy who's only had the system a few days took over 140 pips before lunch today trading the three major dollar pairs at the same time - cable euro and swissy - well done John and welcome to the crew.

Ok, yesterday i told you about the new blog im launching and today ive put it together. Its not to sell anything and is just for our own reference.

have a read of it here http://grailtrading.blogspot.com/

till tomorrow then :)

today and some future news

last two days have been difficult trading conditions for anyone on cable - the pair has been rangebound and is currently forming a triangle ready for a breakout.

so the signals listed above are all 1 min trades due to conditions and those arent even great.

question is which way will the breakout go - lets look for some clues on the higher timeframes

the 4 hour chart is at a crux but is setting itself up for a short on hilda. The daily on the other hand shows that we should expect at least a retrace of last weeks losses before the weekly chart continues its move down.

my guess (and it is a guess) is that overnight tonight cable may well go and test the 8077 - 90 area before giving us some downside tomorrow but i dont think tomorrows slide will be significant with support beig seen at 7980 followed by a rise in the next day or so to the 8150 area and maybe higher before the drop to new lows.

I know this sounds highly suspect and guessing games always are but in a nutshell downside - upside then major downside.

as for which way this current range will go - down i think, but then im not a guesser - just trade what you see.

NEWS

as from october 1st i will be starting a new part of the blog - this will feature the investment strategy we call grail - it wont be for sale so dont start on about this being a marketing thing. Grail is not the holy grail some search for but it is mine - grail requires very little attention and is a very simple intraday strategy which trades once a day only.

I wont be featuring individual trades but heres what the new part of the blog will be for.

I aim to show how an account making small amounts of pips can make major money with compounding. I will, once a month post a screenshot of an actual account which will start off at £10,000 equity.

Please note that this will be a real money account and not a demo account. The account will be held on capital spreads - a UK spread betting broker.

reports will only be shown once a month as this strategy can suffer up to 400 pip drawdowns during the month and the month isnt over till the last day.

the aim of the account is to turn £10,000 into £1,000,000 inside 2 years and prove that it can be done safely. Hopefully we can resist the temptation to take money out which will decrease the compounding effect. and keep us on target.

I will release the blog address to you soon just as soon as we have set target amounts to reach and set the ground rules for you to see.

before you ask, no, we will not be giving or selling the system used for this. the blog will merely be a record for us to asses our feelings and actions during this time. who's we? there are two of us doing this from 1st October.

keep checking the blog in the next few days for more information.

tough day

very tough day friday with not a sniff of a trade in the early session.

the first news did nothing and the second at 2pm gave the move for the day with fair entries. The hilda signals are above but i went out for lunch and left a trade running with a profit target - it closed for +54

last weeks prediction of a good fall came off for 300 pips and the weekly still says more downside. However the daily is showing a likely upmove for the first part of the week before downside resumes to new lows either mid / late in the week or early the week after - time will tell. Look for lows of the week being between 1.7880 to 1.7720 with the highs between 8190 and 8315

looking at a monthly chart then the story turns around with upside to new highs in october / november. Maybe ill do a monthly review at the end of september.

for now thats it, have a great weekend

update

Tuesday was a hospital visit so no very little cable trading for me. Yesterday was fair and today gave a great 5 min trade from this morning with the 4 hour stopping the fall this afternoon.

I didnt personally get the best price on that 5 min signal listed above but one of the users got in on it so i posted it as one trade for the log.

I actually went short at 8192 early on , i then closed that one for 10 pips due to a delivery at the door, reopened at 8128 short on a signal and closed at 00 for 28 pips - total for the day 38 pips - damn deliveries!! but dont like to leave a trade running when distracted and coupled with a halt in the movement at a pivot point i decided to close it.

hope youve done well today - of all the dollar pairs it was cables day to shine.

catch you soon.

well, for whats usually a crap day not bad at all :)

nice article

looking for something to read? - check this out

http://www.tacticaltrader.com/article/read/2/Your-Worst-Enemy

level 2 for forex :)

Wednesday and Thursday

last 2 days - one minute day today

yesterday was kinda crap wasnt it - very erratic.

most of the day today ive traded swissy taking 32 pips this morning and a few 1 min scalps later - those listed above are the cable trades as usual.

been a very erratic day - we are at a turning point on the weekly chart and hilda suggests that we may be in for some downside for the next few weeks. I hate to predict these things as invariably it will now skyrocket, but hilda long term says we are having some downside to cable.

if theres one thing to stop that though its the after effects of Katrina so time will tell, however i am of the belief that the fundamentals only act when the technicals allow - fundies can push the market so far but as most people and institutions out there are trading technicals sense soon comes out of the mayhem - todays drop after hours might be the first sign.

Hope you had a good day today and that you managed to bank some pips

better day today :)

Tuesday

Ok, back to trading today - yesterday was a holiday in the us and also the day after NFP so predictably the market was pants - took a couple of trades on a 1 min chart but nothing worth reporting.

back in force today though and looking to make some pips - will report back later.

Have a great day

New Month - Improved System!

Ok

Hope you had a good week this week, i know i did :)

I took 801 pips for the week which included my set and forget trades.

Good news was that i launched an addition to the hilda system which i believe will take it's win / loss ratio into the 85 - 95% win / loss ratio area - time will tell if this happens.

I released it to the hilda buyers group on thursday and they seem to be over the moon about it saying that it makes hilda even easier than before 'like shooting fish in a barrel' was one comment.

This also means that i can now include these new trades in the results - something i will be doing from now on.

Its hard when deciding where to log the exits on the trades i post as with the new improvements there are actually 4 different exit points which depends on the trader's personality as to which ones they take.

For example if you look at that long trade from 1st september - the trade listed shows a single trade for 260 pips - that is one type of exit for those who like to hold a trade as long as possible. At the time i was personally trading that one on a different exit system and during that upmove i took around 7 entries and exits using one of the other exit methods. The pip count was slightly lower than holding the trade all day but the difference was not massive and felt safer for me as i was fully loaded lot wise at the time.

2nd september wasnt quite so good with a slowly creeping long market to begin with and then an up and down rollercoaster ride up to the release of the NFP number which didnt light any fires did it.

I have a rule on Fridays that after 3pm i take no more trades - it loonie time friday afternoon and although there were certainly pips to be made there is usually no consistency in the market.

Im guessing that many traders want to be flat for the weekend and many are just scalping the odd 10 pip move here and there which is what makes it rather risky for me friday pm so i just dont bother.

So, thats it for the week anyway and looking forward to a better month than last.

Throughout next week ill report on how the group is dong with the advanced setup of hilda and we will see how this new setup affect the results.

Take care y'all

August results

August was a horrible month wasnt it for any traders.

Hilda did do ok though with 690 logged pips - the results do not include trades made from 25th august as i had so much work on i just didnt get the time to log them.

win / loss ratio remained 70-80% though so im pleased with that.

hard to log

Hi folks,

Im very sorry for the lack of trade reporting at the moment - the new advanced setup ive introduced on hilda makes it very difficult for me to track them as there is so many. Ill work on it and see if i can get it logged again.

Today has again been terriffic though with multiple entries into this 300+ moving day - hope you made plenty

Ive actually made over 300 pips again as set and forget came in with over 220 - the other hundred or so was made with hilda but i missed so many signals today - just as a trade setup presented itself i had a delivery - this happened about 4 times!!!

bit pissed off that i didnt take more with hilda today as there were hundreds on the table

Looking good this week though at over 700 pips in my bank - i dont think my personal record is at risk yet though. Those from the forums may remember last december when i racked up 1870 pips in a single week all trades called in real time. Phew! that was a week to remember eh darkstone??

catch you soon all :)