EURAUD closed for -200 which might upset some people because at one point it was 300 up. Doesnt matter, as i said earlier you get periods of losers until the market takes off again but you have to give them the roiom they need under the current conditions you are operating in.
Lets not also forget that it's just a 66% pair (pip value is just65.90 per mio)
Nothing interests me now so i guess we might be settling here for the month
Closed Results +2629 Pips since Oct 23rd 2008.
That makes 1458 pips for November, That's a good month. 700 pips for me and 758 for the pot - always make sure you pay yourself, ive known traders with 1mio accounts that drive around in a battered ford and then go and lose a shitload - always take some out when you win.
Looking forward to December as it's often been a boom month.
Stay Lucky
Friday, November 28, 2008
Tuesday, November 25, 2008
Monday, November 24, 2008
closes.
Ok, some closes now then
usdchf closed on stop at 1.2140 for +320 pips. not bad from what i thought would be really crap.
usdjpy closed on stop at 96.52 for +112, poor performance from that trade.
gbpaud closed on stop at 2.3270 for -261 pips.
audusd closed on stop at 6450 for +112 pips.
gbpchf is still running with a break even stop and my little chancer from earlier tonight isnt looking good but we will see.
Overall this changes the pip count by +283 on closed trades
Closed Results +2759 Pips since Oct 23rd 2008.
for the sake of this blog i count a pip as a pip - but something for you to think about is wether all pips are created equal (ask George Orwell lol), which they arent. for a true pip count one would have to calculate the pip based on pip value per contract.
I'll explain this to you. A pip on gbpusd is worth $100 for each $mio traded. However on usdchf the same contract is only worth $83.70 and on gbpaud the price is $63.50. to get a true pip count in value one would have to multiply the pips made by the per contract price - so for example 500 pips on gbpusd is 500 wheras 500 pips on euraud is actually only 325 pips (500 X 0.65) amd another example is that -261 you see above is really -170 - lol, that'll keep you happy for a while.
Don't worry, i'm not going to change the count for this blog, but it might make you think to check the pip value when calculating the risk you are taking - a 300 pip risk on euraud for example is equivalent to a 195 pip risk on cable.
Interesting eh?
Anyway, bit of turmoil expected in the next few days so i think i'll be playing things a little light for a while and may just stay out of the market till something really juicy comes along. Check back tomorrow night for any news.
Be Lucky.
Ok, some closes now then
usdchf closed on stop at 1.2140 for +320 pips. not bad from what i thought would be really crap.
usdjpy closed on stop at 96.52 for +112, poor performance from that trade.
gbpaud closed on stop at 2.3270 for -261 pips.
audusd closed on stop at 6450 for +112 pips.
gbpchf is still running with a break even stop and my little chancer from earlier tonight isnt looking good but we will see.
Overall this changes the pip count by +283 on closed trades
Closed Results +2759 Pips since Oct 23rd 2008.
for the sake of this blog i count a pip as a pip - but something for you to think about is wether all pips are created equal (ask George Orwell lol), which they arent. for a true pip count one would have to calculate the pip based on pip value per contract.
I'll explain this to you. A pip on gbpusd is worth $100 for each $mio traded. However on usdchf the same contract is only worth $83.70 and on gbpaud the price is $63.50. to get a true pip count in value one would have to multiply the pips made by the per contract price - so for example 500 pips on gbpusd is 500 wheras 500 pips on euraud is actually only 325 pips (500 X 0.65) amd another example is that -261 you see above is really -170 - lol, that'll keep you happy for a while.
Don't worry, i'm not going to change the count for this blog, but it might make you think to check the pip value when calculating the risk you are taking - a 300 pip risk on euraud for example is equivalent to a 195 pip risk on cable.
Interesting eh?
Anyway, bit of turmoil expected in the next few days so i think i'll be playing things a little light for a while and may just stay out of the market till something really juicy comes along. Check back tomorrow night for any news.
Be Lucky.
Sunday, November 23, 2008
new week
stop moved tp break even on gbpchf
stop moved to 0.9652 on usdjpy
stop moved usdchf 1.2140
new trade, bit of a chancer for big reward. long gbpaud 2.3531 stop @2.3270. potential risk / reward around 8:1 or more.
thats it, good luck :)
Closed Results +2476 Pips since Oct 23rd 2008.
stop moved to 0.9652 on usdjpy
stop moved usdchf 1.2140
new trade, bit of a chancer for big reward. long gbpaud 2.3531 stop @2.3270. potential risk / reward around 8:1 or more.
thats it, good luck :)
Closed Results +2476 Pips since Oct 23rd 2008.
Thursday, November 20, 2008
changes
A few changes then and a new trade
stop moved on usdchf to 1.2070
stop moved on usdjpy to 97.25
stop moved on audusd to 0.6450
USDCAD short order cancelled
NEW TRADE low risk stop - long gbpchf 1.8000 120 pip stop 1.7880
That's it for now :)
stop moved on usdchf to 1.2070
stop moved on usdjpy to 97.25
stop moved on audusd to 0.6450
USDCAD short order cancelled
NEW TRADE low risk stop - long gbpchf 1.8000 120 pip stop 1.7880
That's it for now :)
Wednesday, November 19, 2008
no changes
no changesto report. almost getting tempted back short into cable but think it may just be some up and down for a while so leaving alone.
swissy now making some headway at +300, usdjpy still lagging as is audusd - all in positive though. happy to sit on my hands for a while and advise the same.
swissy now making some headway at +300, usdjpy still lagging as is audusd - all in positive though. happy to sit on my hands for a while and advise the same.
Monday, November 17, 2008
update - taking profits
Ok, update time.
Cable closed on stop on both positions - this made +955 on one position and +565 on position two
a total of +1520 pips.
Closed Results +2476 Pips since Oct 23rd 2008.
Still running is USDCHF at +159 stop moving to 1.1870 to lock in some profit allbeit only a bit. Lets face it swissy has been shit.
Usdjpy still running also, moving stop on that to break even at 9764
audusd stop move to 0.6635.
everything looks ready to turn for a while so now holding back on new positions except for one - New order short USDCAD at 1.2080 IF SEEN 500 pips stop - order good till 7pm Friday.
everything else can wait a while
catch ya tomorrow
Cable closed on stop on both positions - this made +955 on one position and +565 on position two
a total of +1520 pips.
Closed Results +2476 Pips since Oct 23rd 2008.
Still running is USDCHF at +159 stop moving to 1.1870 to lock in some profit allbeit only a bit. Lets face it swissy has been shit.
Usdjpy still running also, moving stop on that to break even at 9764
audusd stop move to 0.6635.
everything looks ready to turn for a while so now holding back on new positions except for one - New order short USDCAD at 1.2080 IF SEEN 500 pips stop - order good till 7pm Friday.
everything else can wait a while
catch ya tomorrow
Sunday, November 16, 2008
new week
Sunday night always a bit of a nail biter - will it gap? will it go my way?
well it didnt gap and all still going as expected.
usdcad still setting up for a potential 'fool me' trade, would need to drop from here and then go to 1.1300, long signal would be triggered at that level. - I'll explain it i it comes off next week.
It wouldnt suprise me this week if we did see more of the falling pound but you never know, cable is ready for some serious retracing back to 1.56 ish to test that level that stemmed the third fall. so would need some good news to make that happen. all the ellioticians are saying it was wave five, or is it the b move etc etc.
take my advice - all that is bollocks. just follow price and give it room. just learn to manage risk and forget the direction you want to choose - far too much time is spent on your 'system' or decision. learn to manage risk and you'll do ok.
So funny last week seeing Gordon Brown talk about tax cuts, the one man that made taking money out of your pocket without you knowing it asks for tax cuts - amazing!
Funny thing is he's going to borrow money to try to buy himself out of a recession. - another 20 billion or so to give you in tax cuts so you spend it - why not just not give it out and save it you fucking moron.
Let me ask you a question; if you were in a deep hole that was leaking shit from below that kept getting bigger and bigger - what would you need to get out? a bigger spade and some more digging so more shit an come in?
What a twat.
well it didnt gap and all still going as expected.
usdcad still setting up for a potential 'fool me' trade, would need to drop from here and then go to 1.1300, long signal would be triggered at that level. - I'll explain it i it comes off next week.
It wouldnt suprise me this week if we did see more of the falling pound but you never know, cable is ready for some serious retracing back to 1.56 ish to test that level that stemmed the third fall. so would need some good news to make that happen. all the ellioticians are saying it was wave five, or is it the b move etc etc.
take my advice - all that is bollocks. just follow price and give it room. just learn to manage risk and forget the direction you want to choose - far too much time is spent on your 'system' or decision. learn to manage risk and you'll do ok.
So funny last week seeing Gordon Brown talk about tax cuts, the one man that made taking money out of your pocket without you knowing it asks for tax cuts - amazing!
Funny thing is he's going to borrow money to try to buy himself out of a recession. - another 20 billion or so to give you in tax cuts so you spend it - why not just not give it out and save it you fucking moron.
Let me ask you a question; if you were in a deep hole that was leaking shit from below that kept getting bigger and bigger - what would you need to get out? a bigger spade and some more digging so more shit an come in?
What a twat.
Friday, November 14, 2008
end of week
stop on cable moved now to 1.5025, swissy moved to break even cos it's shit. no other changes. all to run over thge weekend unless stops hit tonight.
have a good weekend all
have a good weekend all
Thursday, November 13, 2008
update 2
wow what a day!
cable now dropping like a nutcase - 500 pip trail now in the same place on both positions. actually saw 1300+ pips on pos1 today and over 1000 on pos 2.
swissy looking crap still and usdjpy made a mean retrace. got a feeling that might die before morning as my stop is 9840. it came within 10 pips today.
hoping cable continues, stop currently 1.5063 on both positions. would think that cable is due a strong retrace but hey, dont catch a falling knife!
if nothing else happens now i've made my money for November and still two weeks to go. Fill ya boots as we say :)
no change on audusd
That's it, catch you soon.
cable now dropping like a nutcase - 500 pip trail now in the same place on both positions. actually saw 1300+ pips on pos1 today and over 1000 on pos 2.
swissy looking crap still and usdjpy made a mean retrace. got a feeling that might die before morning as my stop is 9840. it came within 10 pips today.
hoping cable continues, stop currently 1.5063 on both positions. would think that cable is due a strong retrace but hey, dont catch a falling knife!
if nothing else happens now i've made my money for November and still two weeks to go. Fill ya boots as we say :)
no change on audusd
That's it, catch you soon.
update
Mornin'
Cable steaming ahead now - position 1 is +1105 pips, poition 2 +721 pips, both full positions. 500pip trailer is holdin the stop at 1.5320, bit too close for my liking really, would have preferred 1.5520 to stay above yesterdays range but then it was a large day. will leave the 500 trail in.
Swissy is holding up the rear tho not doing much, don't know sometimes why i bother with swissy but it's 106 up - not far enough to move the stop yet.
usdjpy finally made it's move also +230 as i write. stop remains at 98.40 so no locked in profit yet.
audusd now 160 up on yesterdays new position, stop moved to 0.6735.
that's it, nothing new i want to risk.
this then is typical of a daily chart trader - last week we lost a few hundred pips - cant remember how many but around 400-500 pips in several trades. then you find good ones and ride em like a cowboy on a bronco. cable has been in since the 3rd nov so 10 days already but remember that was my second bite at cable.
so my impressive +1400 in 2 days score went down to 900, but now looking at +2000 in open trades. Providing you trade small enough and manage your risk then you can make good money even at a few dollars a pip.
That's it, off for the day - hope you have luck.
Closed Results +956 Pips since Oct 23rd 2008.
Cable steaming ahead now - position 1 is +1105 pips, poition 2 +721 pips, both full positions. 500pip trailer is holdin the stop at 1.5320, bit too close for my liking really, would have preferred 1.5520 to stay above yesterdays range but then it was a large day. will leave the 500 trail in.
Swissy is holding up the rear tho not doing much, don't know sometimes why i bother with swissy but it's 106 up - not far enough to move the stop yet.
usdjpy finally made it's move also +230 as i write. stop remains at 98.40 so no locked in profit yet.
audusd now 160 up on yesterdays new position, stop moved to 0.6735.
that's it, nothing new i want to risk.
this then is typical of a daily chart trader - last week we lost a few hundred pips - cant remember how many but around 400-500 pips in several trades. then you find good ones and ride em like a cowboy on a bronco. cable has been in since the 3rd nov so 10 days already but remember that was my second bite at cable.
so my impressive +1400 in 2 days score went down to 900, but now looking at +2000 in open trades. Providing you trade small enough and manage your risk then you can make good money even at a few dollars a pip.
That's it, off for the day - hope you have luck.
Closed Results +956 Pips since Oct 23rd 2008.
Wednesday, November 12, 2008
Update
Just my luck, gbpchf kept going! ahh well, can't win em all.
Cable now making it's money on two positions. Pos 1 is +600 and pos 2 +200 if 1.5250 goes we should be in clover for a while. stops moved to 1.5890 and a 500 pip trailing stop activated.
usdjpy isnt doing what i expect tho still hanging onto it - at the mo going from plus to minus hourly but still biased shorty. in fact i like it a lot so still chance to get in if you arent - stop is moved to 99.60
Swissy (usdchf) kicked in and is now long for small + numbers, stop remains at same level of 1.1670
New trade short audusd at 6562 stop at 7060 - that will make or break today or tomorrow.
that's enough trades in but for info a few 'fool me' trades are starting to setup. usdcad looks a good candidate - first a lift to a lower high, then a drop to 1.1300 to pull the suckers in short and go long at that level - classic 'fool me' trade if the lower high forms. there are quite a few of these setting up at the mo.
That's it for now, good luck!
Results +956 Pips since Oct 23rd 2008.
Cable now making it's money on two positions. Pos 1 is +600 and pos 2 +200 if 1.5250 goes we should be in clover for a while. stops moved to 1.5890 and a 500 pip trailing stop activated.
usdjpy isnt doing what i expect tho still hanging onto it - at the mo going from plus to minus hourly but still biased shorty. in fact i like it a lot so still chance to get in if you arent - stop is moved to 99.60
Swissy (usdchf) kicked in and is now long for small + numbers, stop remains at same level of 1.1670
New trade short audusd at 6562 stop at 7060 - that will make or break today or tomorrow.
that's enough trades in but for info a few 'fool me' trades are starting to setup. usdcad looks a good candidate - first a lift to a lower high, then a drop to 1.1300 to pull the suckers in short and go long at that level - classic 'fool me' trade if the lower high forms. there are quite a few of these setting up at the mo.
That's it for now, good luck!
Results +956 Pips since Oct 23rd 2008.
Monday, November 10, 2008
Thursday, November 06, 2008
fun time
ok, market beginning to make it's move so some trades to take
lets update whats running to start with
gbpusd - 2nd position now in so stop on all now at 1.6125. first position is almost 400 up but still nothing locked in on profit, hopefully tomorrow night can lock some in
gbpchf still short stop at 1.8829 so no profits locked yet
New Trade - USDJPY short @ 97.64 stop @ 101.25
That's enough running for now., very tempted to go short audjpy with a 350 pip stop so if youve nothing running you might like that one, nice 1000 pip target minimum at 3:1.
anyway, catch ya soon
lets update whats running to start with
gbpusd - 2nd position now in so stop on all now at 1.6125. first position is almost 400 up but still nothing locked in on profit, hopefully tomorrow night can lock some in
gbpchf still short stop at 1.8829 so no profits locked yet
New Trade - USDJPY short @ 97.64 stop @ 101.25
That's enough running for now., very tempted to go short audjpy with a 350 pip stop so if youve nothing running you might like that one, nice 1000 pip target minimum at 3:1.
anyway, catch ya soon
Wednesday, November 05, 2008
mistake
not very often a mistake goes in my favor - didnt place the stop any trades so all still running.
no changes tonight
cable stop is 1.6425 and not 6125 as prev stated - the 6125 is on the new position if it kicks in @5590
sorry for the confusion
no changes tonight
cable stop is 1.6425 and not 6125 as prev stated - the 6125 is on the new position if it kicks in @5590
sorry for the confusion
update
usdcad died so minus 100 on that one.
Cable went from +380 to -125 and now back again, this is the thing with longer term trading, especially in volatile times - you have to be able to ride the dragon sometimes.
I'm now moving the stop on cable to 1.6125 which reduces my risk to about 150 pips ish. I'm also going to place a second position on in the form of a breakout order so short gbpusd @1.5590 if seen
new trade also short gbpchf @1.8584, may also add to this position if 1.8320 is broken. stop is at 1.8750.
Results +871 Pips since Oct 23rd
ps, canx audusd order
Cable went from +380 to -125 and now back again, this is the thing with longer term trading, especially in volatile times - you have to be able to ride the dragon sometimes.
I'm now moving the stop on cable to 1.6125 which reduces my risk to about 150 pips ish. I'm also going to place a second position on in the form of a breakout order so short gbpusd @1.5590 if seen
new trade also short gbpchf @1.8584, may also add to this position if 1.8320 is broken. stop is at 1.8750.
Results +871 Pips since Oct 23rd
ps, canx audusd order
Monday, November 03, 2008
update
cable off an running , currently +200
New order placed on audusd short if 0.6536 seen half position
taking a low risk long on usd cad with 100 pip stop from 1.1825 - potential is 12:1 rr so worth the risk.
chfjpy look interesting for a break below 8350 but got enough running now.
check back for update tomorrow
New order placed on audusd short if 0.6536 seen half position
taking a low risk long on usd cad with 100 pip stop from 1.1825 - potential is 12:1 rr so worth the risk.
chfjpy look interesting for a break below 8350 but got enough running now.
check back for update tomorrow
dead
euraud dead - minus 400 pips but half position so -200
Cumulitive Results +971 Pips since Oct 23rd
order placed to short cable at 1.5970, apart from that standing aside for a while
Cumulitive Results +971 Pips since Oct 23rd
order placed to short cable at 1.5970, apart from that standing aside for a while
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