Sunday night 7th dec 2008

ok, update, sorry couldnt do this on Friday but was busy as hell.

eurchf stop was moved to 1.5425 which was hit and taken out for -100 pips.

usdcad went to over +500 at one point so the trailing stop kicked in (500 pip trailer) - stop is currently 1.2507 locking in an amazing 33 pips lol.

so far the month has done fuck all worth bothering with. some will be saying - "yes, but if you had taken say 200 pips on each trade then you would be well up now" and yes, i would - but i dont trade that way - all i want is one good trade a month that makes say 1000 pips and i'm made - to find that one trade takes some shit shovelling.

so far weve had lots of minuses for a couple of hunreds and a few wins which matches em up

Closed Results +2594 Pips since Oct 23rd 2008.

This Month -35 Pips on closed trades

I dont sit here all day watching the markets - I have other businesses that i'm in to and so only trade for prob an hour a day and then just leave em alone.

Now, usdcad could go for new highs and properley break the top - i'll be having a good look in the next day or so and might start moving the stop up closer -0 lets see how it unfolds. currently +250

I note that it's now 87p for a euro - thanks a bunch Gordon Brown you fuckwit. he thinks that a weak pound will spur the recovery from imports - oi thicko!! they don't have any money abroad either you thick scottish twat!

anyway,

NEW TRADE SHORT CADCHF@0.9574 SL 0.9720 -nice low risk trade - retrace from the downtrend on friday leaving it at a clearly identifiable resistance level to short.

another interesting one - even tho i got stopped out of this on Friday im back in

EURCHF short from the open on @ 1.5529 and a 100 pip stop - some serious resistance around here and i still see a downtrend so still worth a punt.

Nothing else interesting - stay lucky!

cad stop to break even

Thurs 4 dec 08

No change to existing trades, looks like cad is starting to move but i dont expect fast moves on this, might be in a week or so

got a funny feeling about usdchf - take a look at the monthly chart, it's actually a bearish pair overall on a retrace - interested to see if she breaks down so in anticipation im putting in an order at 1.7770 for short with an expiry next weekend.

there are a few more trades i'd like to take, however the market just doesnt 'look right' to me at the moment - i cant really find anything apart from nzdusd short that looks low risk and I just dont like looking at nzdusd at the mo.

so that'll do for now.

if you're thinking about shorting the pound then remember - sell the rumour buy the fact - i have a feeling this will be the play today and if i was around i'd buy cable just before noon with a tight stop - they are all expoecting another big drop - personally i dont think it will happen so a possible news fact trade there.

then again what the fuck do i know - just follow the money and you can't go wrong!

close

eurjpy closed at +130 on stop

new trade made yesterday but losing so i guess it's alright to post

short eurchf @1.5325 stop at 1.5450

That's it - market still skittish, not that interested at present

Closed Results +2694 Pips since Oct 23rd 2008.

new trade - long usdcad 1.2474 200 pip stop

stop change on eurjpy to 119.40

-130 on gbpaud remember tho was a half position so -65 pips - also it's a 65% pair so risk was very low.

Eurjpy stop moved to 120.30 now a bet to nothing. Dont normally move em so fast but it might just go retrace tomorrow - can always get back in again around 121.50

Closed Results +2564 Pips since Oct 23rd 2008.

Keep an eye on eurchf. a retrace back to 1.5350 or higher tomorrow will see me consider an entry short.

gbpaud now looks good to short following the retrace back 400 pips - almost guaranteeed to drop back down and test those lows again. hmmm, will consider.

nothing yet tho, speak tomorrow

another

ok, one more chancer then - half position on this as it's risk is higher

gbpaud long at 2.3600 stop at 2.3470

new chancer

fancy a chancer on eurjpy tonight so gone short @120.70

theres a few i fancy but the markets skittish so this will do for starters

no trades

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

gbpchf closed for +70 buggar! too close on that stop move, but market is a bit changeable

euraud still running, in profit as i write but could go either way yet - no changes

Nothing else interesting at all - going to sit on hands a while

Closed Results +2829 Pips since Oct 23rd 2008.

just a quickie this morning, stop on gbpchf moved to 1.8070

500 pip trailing stop applied to euraud.

have fun.

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.

lots closed today - full report later however

new trade, another low risk high reward trade - long euraud 1.9880 200 pip stop

just wanted to tell you - be back l8r tonight ot tomorrow morn

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.

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 :)

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.

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

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.

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

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.