Sorry folks - just have not had time to update the blog this afternoon what with one thing and another.

 

here are trades i have taken - gonna call it a day for the blog now - total is 35 pips

 

 

Tue Jan 17 06:13:31 2006, 88656810,  , SellMarket, GBP/USD, 200000, 1.76140,
Tue Jan 17 06:18:55 2006, 88658980, 88656810, CloseTradeS, GBP/USD, 200000, 1.76090,
Tue Jan 17 06:42:52 2006, 88666257,  , BuyMarket, GBP/USD, 200000, 1.75980,
Tue Jan 17 06:53:51 2006, 88669237, 88666257, CloseTradeB, GBP/USD, 200000, 1.76020,
Tue Jan 17 07:33:50 2006, 88675182,  , SellMarket, GBP/USD, 200000, 1.76290,

Tue Jan 17 07:37:53 2006, 88676301, 88675182, ChangeTrade, GBP/USD, 200000, 1.76290,
Tue Jan 17 08:39:22 2006, 88684044,  , SellMarket, GBP/USD, 200000, 1.76190,
Tue Jan 17 09:06:44 2006, 88688730, 88684044, CloseTradeS, GBP/USD, 200000, 1.76080,

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Tue Jan 17 04:53:38 2006, 88646367,  , BuyMarket, GBP/USD, 200000, 1.76120
Tue Jan 17 05:51:01 2006, 88653968, 88646367, CloseTradeB, GBP/USD, 200000, 1.76250

 

+13 pips

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Tue Jan 17 04:43:17 2006, 88642754,  , BuyMarket, GBP/USD, 200000, 1.76190
Tue Jan 17 04:49:23 2006, 88645027, 88642754, CloseTradeB, GBP/USD, 200000, 1.76030,

 

-16 pips grr

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Tuesday First

Morning all,

 

after yesterdays dismally boring movement im hopig for a better one today - time will tell

 

 

Tue Jan 17 03:05:27 2006, 88630515,  , SellMarket, GBP/USD, 200000, 1.76900,
Tue Jan 17 03:25:59 2006, 88632574, 88630515, CloseTradeS, GBP/USD, 200000, 1.76800,
Tue Jan 17 03:50:45 2006, 88634553,  , BuyMarket, GBP/USD, 200000, 1.76820,
Tue Jan 17 03:59:24 2006, 88635330, 88634553, CloseTradeB, GBP/USD, 200000, 1.76900,

 

+18 pips

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Mon Jan 16 09:42:49 2006, 88508149,  , BuyMarket, GBP/USD, 200000, 1.76460,
Mon Jan 16 09:49:29 2006, 88508942, 88508149, CloseTradeB, GBP/USD, 200000, 1.76560,

 

bit thin on the ground today isnt it

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Monday first trade

Morning all,

 

Interesting room on paltalk this morning called 1 min scalping calls - youll find it in the business section

 

anyway, first trade of the day - seemed to last forever!

 

all time are EST as reported by oanda

 

Mon Jan 16 03:17:29 2006, 88457698,  , SellMarket, GBP/USD, 200000, 1.77580,
Mon Jan 16 04:56:04 2006, 88471650, 88457698, CloseTradeS, GBP/USD, 200000, 1.77430,

 

+15 pips

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Tax Return Day

Well, in the UK the tax return deadline is January 31st.

 

so no trading for me today apart from grail as im busy doing the paperwork.

 

catch you soon when ive done :)

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Wednesday Tidy Up

Tidy up Wednesday

total = +75 pips

this was a bit hair raising at times - been using a new strat and didnt think that the triple added trade would come in at one point.

think ill stick with hilda and slopeys in future - less stress!

Wed Jan 11 09:21:48 2006, 87803532, , SellMarket, GBP/USD, 200000, 1.75900,
Wed Jan 11 09:25:58 2006, 87804672, , SellMarket, GBP/USD, 200000, 1.76020,

Wed Jan 11 09:25:58 2006, 87805562, , SellMarket, GBP/USD, 200000, 1.76120,
Wed Jan 11 11:16:08 2006, 87821210, 87805562, CloseTradeS, GBP/USD, 200000, 1.75900

Wed Jan 11 11:16:21 2006, 87821210, 87804672, CloseTradeS, GBP/USD, 200000, 1.75900
Wed Jan 11 11:18:23 2006, 87821212, 87803532, CloseTradeS, GBP/USD, 200000, 1.75860

Wed Jan 11 08:06:36 2006, 87790827, , SellMarket, GBP/USD, 200000, 1.75690,
Wed Jan 11 09:03:13 2006, 87799965, 87790827, CloseTradeS, GBP/USD, 200000, 1.75630,

Wed Jan 11 03:42:31 2006, 87747915, , BuyMarket, GBP/USD, 200000, 1.75860,
Wed Jan 11 03:49:01 2006, 87748949, , BuyMarket, GBP/USD, 200000, 1.75820,
Wed Jan 11 04:19:54 2006, 87753211, 87747915, CloseTradeB, GBP/USD, 200000, 1.76000,
Wed Jan 11 04:20:55 2006, 87753318, 87748949, CloseTradeB, GBP/USD, 200000, 1.75990,

From The Desk Of ...

Soultrader

http://www.simpleforexsystems.com

Unbelievable!!

Morning all,

Well, I cant see me doing much trading this morning. I have o go the Diabetic Clinic at 10:30am for two and a half bloody hours!

This is like a training session where they teach you what you can eat, what you cant, how to do this and that etc .... (yawn) cant see me lasting the whole session to be honest - losing money every minute.

Just got to tell you about something amazing and unbelievable I found out yesterday.

You know when you are bored - inbetween trades so to speak and lunchtime...

well, I was having a browse around paltalk as I do sometimes and came across this room called '50 pips a day'

So I popped in to find this Australian bloke sat there giving a running commentary on the market and giving calls. Nothing unusual in that you might think.

The room had around 50 people in it and to be honest many sounded very naive in the text chat.

Anyway, to cut a long story short, this guy was aiming to charge for this room from next month and it certainly sounded like some people were willing to pay his $100 a month for the privaledge. Fair enough.

After listening for a while at the guy's somewhat ambiguous calls I jumped in and asked him a question or two. I couldn't believe what I was hearing from someone starting what amounts to a signals service. I also couldn't believe how many muppets were about to follow this guy off the edge of a cliff.

• 1. He had been 'looking' at trading since May 05
• 2. He had no trading account of his own
• 3. The system he was using was only in his hands for 4 weeks
• 4. He had not a shred of verifiable results and said to all in the room 'boy if i showed you my account it looks a real mess' - and that was a demo account!.
• 5. He was on a satellite link internet connection that went down at least once every 10 minutes

The best bit was this. Hats off to the guy cos he was as honest as the day is long. He openly said in the room that he wanted to sell access to the room so that he didn't have to trade, could give up his day job and move to the city just giving signals all day.

So to recap, you can pay $100 a month and get signals from someone with a 4 week old system that doesn't trade (nor wants to) and has all the trading experience of a newt.

He made a call on cable yesterday for short at 68 - some one asked him if that was Bid or Offer - he didn't know what that meant. He then fumbled around for 10 mins whilst the trade went the wrong way and after a move of about 40 pips against him said well, that wasn't a good signal you'd better close now.

I find it amazing that even after all this conversation the people in the room were still looking to pay him for the priveledge of listening.

I guess the old saying is true - 'In the land of the blind the one-eyed man is king'

Tuesdays Tidying up

Ok lets tidy up todays log shall we

the emailing the log didnt work very well today but weve got through it

here are the trades taken today using Hilda and something else kindly given by Mike in Australia that manages to pick turning points to a tee. a rather nice addition to my charts so thanks Mike.

all times are EST, sorry about that but these are direct pastes from oanda - ive removed the ticket numbers so they fit on one line.


Tue Jan 10 03:31:44 SellMarket, GBP/USD, 200000, 1.76680,
Tue Jan 10 04:01:40 CloseTradeS, GBP/USD, 200000, 1.76530

Tue Jan 10 04:22:48 BuyMarket, GBP/USD, 200000, 1.76540,
Tue Jan 10 04:48:10 CloseTradeB, GBP/USD, 200000, 1.76700,

Tue Jan 10 05:13:39 SellMarket, GBP/USD, 200000, 1.76950,
Tue Jan 10 05:22:40 CloseTradeS, GBP/USD, 200000, 1.76810,

Tue Jan 10 07:14:16 SellMarket, GBP/USD, 200000, 1.76770
Tue Jan 10 07:24:19 2006 CloseTradeS, GBP/USD, 200000, 1.76770

Tue Jan 10 05:39:48 SellMarket, GBP/USD, 200000, 1.76780,

Tue Jan 10 06:23:52 CloseTradeS, GBP/USD, 200000, 1.76630,

Tue Jan 10 08:43:36 BuyMarket, GBP/USD, 200000, 1.76420,
Tue Jan 10 08:55:19 CloseTradeB, GBP/USD, 200000, 1.76480,

Tue Jan 10 09:40:32 BuyMarket, GBP/USD, 200000, 1.76360,
Tue Jan 10 09:59:37 CloseTradeB, GBP/USD, 200000, 1.76660,

Tue Jan 10 09:59:46 SellMarket, GBP/USD, 200000, 1.76640,
Tue Jan 10 10:04:07 ,SellMarket GBP/USD, 200000, 1.76710,
Tue Jan 10 10:42:28 CloseTradeS, GBP/USD, 200000, 1.76630,
Tue Jan 10 10:42:29 CloseTradeS, GBP/USD, 200000, 1.76620,

so thats it - all in all +106 pips for the day :)

Magazine

New currency trader mag is out if anyone wants it :)

 

http://www.currencytradermag.com/uy700.htm

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Happy New Year

Hi folks - all the best for the new year to you all.

 

Ive not been posting trades cos to be honest i couldnt be bothered.

 

This year is going to be a very big one for me with managing money for others. I have gained two such accounts and the first started on 3rd Jan.  as such my own intraday trading is taking a backseat for a while as managing makes me more..

 

The biggest concentration for me will be grail and im now running two grail accounts of my own - one of which is ran differently and purely for monthly income as opposed to building the big pile of money as shown on the million pound experiment.

 

Ill still be posting in here - just not several times a day.

 

catch you soon.

 

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Grail Updated

Hi Folks - just took some time out to update the Grailtrading blog.

Have a very happy New Year - Catch you in 06 :)

sorry

sorry, took off for lunch yesterday and didnt bother much after that - took 52 pips on the downmove though but hey! its close to Christmas and cant be bothered to post anymore :)

 

So to all of you, please have a great time this christmas - dont do anything i wouldnt do (plenty of scope there then) and i'll catch you all in the new year.

 

Grail will still be traded over the holidays so dont forget to check out the grailtrading blog on New Years Day to see if we reach our target on the one million pound experiment :)

 

Till then take care y'all

 

Merry Christmas and a Prosperous new year!

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Thursday 1st trade

09:18 short 1.7427 close +14

09:44 short 1.7416 close +6

 

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Wednesdays Trades

took an overnight long 1.7544 closed +13 - was a trade from daily 100 bounce

10:40 short 1.7543 close +12 1 min slo

11:45 long 1.7521 close +6

14:59 short 1.7490 close +20
17:03 long 1.7320 closed +33 - off the 200sma 4 hour chart

total for day +84 pips :)

From The Desk Of ...

Soultrader

http://www.simpleforexsystems.com

Tuesdays Trades

 closed yesterdays short for +61 pips profit

 11:01 long 1.7619 1 min slo close +40

 16:57 short 1.7592 closed +52

 18:18 long 1.7547 close +10

18:34 long 1.753 close +3 and done for the day

 

total for day = +166 pips inc closing yesterdays trade

 

hope yours was as good

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Back in action

Ok, back in action today for the holiday week :)

 

Was diagnosed with diabetes so shit happens and ill now deal with it.  There is an upside - I get free prescriptions now and I can also raid the diabetic chocolates at Thornton's (make ya crap a lot though :)

 

Thanks for the comments and birthday wishes anyway - much appreciated.

 

This week ill be taking it steady with trading - mainly looking for the longer timeframe trades on the run up to xmas. I like Christmas and I'm starting to get into the mood now so will be doing things around the house and the longer trades facilitates this.

 

Last night I went short cable @ 1.7684 with a stop at 1.7755 this is a 4 hour slo trade - looking for 1.7555 and a possible bounce point there.  The trade might last longer than a day or two as the daily is setting up for a slo north BUT it may keep on going as this sets up to the weekly 200sma.

 

time will tell.

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Happy birthday to meee

Happy Birthday to meeee

Happy birthday to meeeee

Happy birthday dear soulieeeeee

Happy birthday to meeee

 

Yep, that time of the year again and another year older - 42 now!

 

Ive had a wonderful birthday present - turns out i might be diabetic - having been ill of late i went to the doctors yesterday - ive been on steroids for a week and antibiotics for one thing and another and my vision went a bit blurry - Ive got a 42" plasma and i was watching the snooker and couldnt read the names of the players across the bottom!

 

Anyway, the nurse gave a slightly weird look and asked for a sample which i duly gave - there was sugar in it.

 

this morning on my birthday i had to go for a blood test and i should have the results by Thursday so ill let you know when i do.

 

Im starting to recover now from this virus so it will soon be time to start blogging again.

 

Trading wise ive had a fair 2 weeks but i just have not had the energy to deal with emails, blogs etc i should start back on the blog on Monday i think - still cant be arsed at this point. 

 

catch you all soon :)

 

 

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

still poorly

sorry, still unwell with this flu / cold thing - check back later in the week

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Poorly day

Not very well today - got some kind of virus.  Went to docs this morning and now on steroids and antibiotics!!

 

4 trades two for -20 and 2 for +28 - cant concentrate so going to have the rest of the day off to sleep and recuperate i think myself lucky to have finished up for the day the way im feeling

 

will update tomorrow if i'm on.

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Mondays Trades

Been a very difficult day today - the UK waiting for the pre-budget statement from Gordon Brown made the market almost stagnat.

 

the morning session revealed no opportunities whilst the afternoon identified many poor trades - I full expected to finish off in a negative position today and it was a pleasant suprise when i added them up. Here are the results

 

all times GMT+1

 

 14:15 long 1.7381 close -2

 14:24 short 1 min slo 1.7377 close -10

 14:57 long 1 min ss 1.7401 close -6

 16:05 short 1 min slo 1.7396 close -5

 16:41 short 1 min ss 1.7377 close full +25

 17:12 long 1 min slo  1.7374 close half +12  rest +9

 17:25 long 1 min ss close break even

 17:34 short 1 min entry into 5 min slo 1.7384 closed -10

 

final tally +5 pips

 

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Friday Close

Ok, had enough today -buggar all this morning but had some fun with nfp this afternoon.

 

went long at 1.7291 and closed half at +75 the other half at break even believe it or not - was hoping for this to go position trade- the weekly chart looks to me to be a good long position - last weeks chart ended with a hammer bouncing off the 200sma and providing we can close above 1.7286 today we should be in for a higher finish next week.  I dont think it will be a proper trend reversal on the weekly as the monthly still bearish but i think this will see a bounce for the next week or three PROVIDING that we close above 1.7286 tonight.

 

I also took an added trade at 1.7355 which closed -10 based on a one min slo

 

so for the day +50.5 pips full up and for the week +205

 

 

have a good weekend

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Fridays first

09:23 short 1 min slo 1.7283 close +8 after 3 hours!!

 

 

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Thursdays Trades

Well, what looked like a promising start turned into the usual pre NFP day blues .

 

very little tradng this afternoon and just about fell asleep!

 

Trades: all times GMT+1

 

08:50 long 1 min slo 1.7287 cloase half +10 rest +14 

9:28 long 1 min ss 1.7316 close break even

09:37 short 1 min slo 1.7312 close break even

10:51 long 1 min ss 1.7318 close break even

11:19 short 1 min slo 1.7318  close +10

14:00 short 1.7301 closed +10 (damn)

14:51 long 1 min slo - (dodgy tho) 1.7270 close half +10 second half +10

14:59 short 1.7278 close +3

 

total = 45 pips full up

 

hope you did better

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Wednesdays Trades

Missed a few this afternoon whilst managing my other grail trade

 

The grail blog will be updated today with the months results and overview - check here after 6:30 http://grailtrading.blogspot.com/

 

Here are my intraday trades today:

 

All times GMT

 

 08:52 long 1 min slo 1.7196 close half +10 rest +21

 09:26 short 1 min slo 1.7219 close half +8 rest +8

 10:14 long 1 min slo 1.7213 close half +10 half +5

 11:40 short 1 min slo double top so slightly riskier 1.7242 close -9

 16:21 long 1 min slo 1.7275 close half +10  second half +48

 17:12 short 1 min slo 1.7316 close all +2

 17:25 long 5 min ss 1 min lh 1.7307 closed +8 full pos

 17:38 long 1 min slo 1.7318 - close half +10 half +5

 

Total = 68.5 pips full position

 

Could have done better actually - some positions I  closed too early (check the chart and see) and some I missed late afternoon.  Still a good day's work for me

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Tuesdays trades

 

All times GMT+1

 

 08:24 long 1 min slo 1.7251 close half +12 second half +4

 

 09:10 short 1 min slo 1.7260 closed -3

 

 09:45 short 1 min slo 1.7258 close -3

 

 11:11 long 1.7229 - pre emptive trade to get into the 15 min slo off the pivot at 25 - took half at +10  added to position at 43 and closed the lot off at 44

 

 17:57 short 1 min slo 1.7198 close half +15 half +10

 

 

total = 55 half pips = 27.5 full position.

 

I did spend several hours away from the office today so to be fair it wasn't too bad. whilst I was out I missed two good entries on the fall but c'est la vie!

 

hopefully the rest of the week should be free and clear

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Mondays trades and thoughts

Been a hard day for me today - best trade of the day I closed for piffle when I should have held the second half for the run up - cost me dearly as you can see.

 

also on some trades I didn't take half at 10 - its the run down on Friday that made me wary where I closed for 10 and then it went another 60 odd pips

 

I must discipline myself to take the 10 and let the other half run to conclusion or decide just to take 10 full up on everything.  with the win / loss ratio of this method taking 10 every time is a good option but means you see pips slip away from you.  Psychologically its better to take the 10 every time rather that let the half run because your account grows quite nicely - but when the big runs come it gets painful.

 

add to that the fact that I'm still not out of the mindset where I always let the winners run - this take profit malarkey is all new to me - bunny girl used to harp on about it - it feels good on the poor ranges when you snatch 10 time and time again but it's a bloody nightmare when you take 10 from an 80 pip run like today

 

also let you know that I had a limit order in at 1.7040 - this was loaded to the hilt with funds for the bounce off the weekly 200sma - look how low it got!! a pesky 7 pips short of my entry!!

 

Still, a winning day is a winning day and good things come to those who wait....

 

 

All times GMT +1

 

08:40 long 1 min slo 1.7098 closed -5

09:26 long 1 min slo 1.7061 closed break even 

11:28 short 1 min slo 1.7099 close break even

11:40 long 1.7099 5 min slo close +3

14:06 long 1 min slo 1.7107 close break even

14:26 short 1 min slo  1.7202 close half +10 half +1

15:06 long 1.7200 close half +10 rest +7

15:34 long 1 min ss 1.7209 close -7

16:16 long 1 min slo 1.7212 closed half +10 rest +8

 

= 28 half pips = 14 full up

 

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Fridays Trades

End of the day then, time to tidy up the blog

 

Today has been a brill day for the trades setups as follows

 

all times now GMT+1 to match my MT charts

 

 08:45 short 1 min ss 1.7291 close half +10 half +16 (26 halves)

 09:31 long 1 min slo 1.7186 close half +10 2nd half +15

 10:03  short 1.7192 closed all +10

 12:05 long 1.7201 1 min ss close full +10

 14:37 short 1.7212 1 min lh slo - close +10

 15:05 long 1.7212 5 min ss close full +10

 15:28 long 1 min ss 1.7219 close -3

 15:33 short 1.7217 close full +10

 17:30 long 1 min slo 1.7164 -10

 

so thats 125 half pips = 62.5 pips full position

 

for the week +147

 

have a good weekend :)

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Thursday's Trades

 

 08:48 long 1.7229 close half +10 half +4 = 14 half pips

 

 10:46 1 min slo short 1.7235 close +5 (10 half pips)

 

 10:54 short 1 min slo 1.7269 close half +10 half +16 ( 26 half pips)

 

13:02 long 1 min slo 1.7243 close  all +10 (20 half pips)

 

13:35 long 1 min slo 1.7244 close full +10 (20 half pips)

 

 14:36 short 1 min slo 1.7248 close +10 (20 halves)

 

 15:18 long 1 min slo 1.7243 close -5 (10 half pips)

 

total for day 100 half pips = 50 pips full up, not bad for a generally crap day :)

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

no trades

didn't get back in time today so no trades

 

back in full force tomorrow

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Wednesday

Not trading this morning - going out on some business but will be trading the afternoon session

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Tuesdays Trades

another poor day for me but positive - ive got so bored today that I missed the last two trades!

so for the day:

08:22 short 1.7156 1 min slo close half +12 half +31 = 43 half pips

10:42 short 1 min slo 1.7123 close break even

14:37 long 1.7088 close break even

15:55 long cable 1 min slo 1.7117 close half +10 - half +3 = 13 half pips

= 56 half pips = 28 pips full up

catch you tomorrow

From The Desk Of ...

Soultrader

http://www.simpleforexsystems.com

todays trades

All times gmt 

 

07:59 short 1.7176 1 min slo - closed half +14 seconf half -5 = 9 half pips

 09:37 long 1.7202 1 min ss - closed -8 (-16 half pips)

 08:58 Short 1.7192 1 min slo close 1.7200 -8 (-16 half pips)

 09:56 long 1.7202 5 min ss - close break even

 13:54 long 1.7204 closed half +10 half +20 = 30 half pips

 14:44 short 1.7229 1 min slo - closed +2 (4 half pips)

 15:36 long 1.7196 1 min slo - close break even

 

= +13 half pips = 6.5 pips full up

 

wowee, i guess ill retire forever on that!

 

the market is crap - taking the rest of the day off, going to an exhibition tonight of powerful sound kit so im off - waste of time trading this bucket of crap

 

hope you had a good day

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

The Week Ahead

Ok, time for my weekly rant then.

The one hour chart still has room for more downside testing the lows of last week then along with the daily chart chart which is showing some positive divergence and an extreme cci for an upward pop to 1.7230 possibly even 1.7500

More downside is seen reaching for 1.7000 which is the 200 sma on the weekly chart - here it should find some support and may hang around here for a day or two.

I dont think it will hold, the monthly chart is convincing me that a run down to 1.6654 is on the cards before Christmas or soon after but we may well see a significant rise before that comes as the 200sma on the weekly causes a bounce

as always this is for entertainment purposes only and does not constitute advice to buy or sell - trade what you see.

Fridays Trades

ok, those of you who check regular will know i post throughout the day - time to tidy up the posts now

 

will try to do my weekly overview tomorrow

 

all times GMT

 

08:14 short cable 1min 1.7121 closed +2

first trade did actually run to target - never mind

 

long 1.7116 closed half +10  - 2nd half break even

9:55 long 1.7125 1 min slo - closed -4

12:38 short 1.7154 30 min ss closed +20 full pos

 

13:49 long 1.7137 1 min slo closed half +10, half +1

14:44 Long cable 1.7202 1 min ss - close break even

 

15:00 short cable 1.7203 closed half +25 (missed +10 was writing an email lol) second half closed +43

 

16:15 Long 1.7161 5 min ss pre emptive  closed -20

took this one way too early for a shitty price really - thought i'd got rid of preempting trades but obviously not

 

16:28    long 1.7144 1 min slo close half +11, 2nd half +7

17:07 - short 1.7154 1 min slo closed -3

 

thats it so ...

 

97 half pips = 48 pips at full position - very good day today for the trades - lots of them and mainly winners - wouldve been a better day if i hadnt pre-empted that shitty 5 min trade - that was 20 pips full money down the pan.  still, shit happens and i made it all back and more by the end of the day.

 

Market is crap now so ill be back with the weekly view tomorrow - hope you had a good day :)

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

tidying up!

just doing this post to capture all todays posts and clean up the blog - will delete the posts now and out them into one

 

08:40 Long 1.7180 1 min trade slo - close half +10 2nd half +12

 

08:59 long 1.7192 1 min ss - close full +4

 

09:16 ss trade - too fast for entry - currently flat

 

09:31 short 1 min non system based on lower high 1.7210 closed half +10 half +2

 

10:05 short 1.7193 1 min slo  closed half +10 half +15

 

long 10:33 1.7186 1 min slo closed for break even

 

14:40 long 1 min ss 1.7185 close -5

 

16:15 - short 1 min slo 1.7203 close break even

 

prob last trade of the day results 62 half pips = 31 pips for the day

 

been a hard day for trading today - like walking in treacle

 

glutton for punishment tho so back tomorrow :)

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

last trade of the day

executed one last trade for the day

 

Buy gbp/usd @1.7172 17:23 gmt based on 5 min chart setup - closed half at +10 and rest at break even - pips = +10 half position (5 pips fully loaded)

 

catch you tomorrow :)

 

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

first trade of the day

First intraday trade today

 

Short cable 1.7308 10:30 am GMT - took half @+10 then went shopping :) - came back at 12:45 to find trade still open - trailed it on 1 min chart after that.  closed @ 1.7176

 

If I had not gone shopping I would've been out earlier as my 1 min trail would've kicked in. - so for today just a single trade - half for +10 and half for +132

 

I'd like to take this time to discuss my new approach to taking half profits at +10 and today seems a good day to talk about it as its one of those days where it would have been prudent to leave it all running.

 

In the past ive been a staunch supporter of never closing anything early - the premise being that those trades that do run and run pay for the ones that don't.

 

All the great authors say you shouldn't close early because you are in effect 'cutting your winners short' and its a good point.  On anything 5 min chart and above I'd agree with this but when you start to fall in love with a one minute chart things begin to change.

 

30 pips is a good run on a one min chart and runs larger than this don't happen too often. If you trade the one minute chart try this - make a diary of how many times you take a trade that goes to +10 and then you let it slip back to say +1 or even worse back into the negative territory.  My guess is that you'll find that if you took all the +10's you had you would be making many more pips - until of course that 200 plus move comes along at which point you begin to kick yourself.

 

The thing is that every one of us needs to feel confident and satisfied that we are adding to our account rather than losing out on pips.

 

Taking +10 with half your position and then moving the stop to BE on the rest gives you a quiet serenity knowing that you wont lose on this trade whatever happens.  You can then calmly trail the price with a stop on the 1 min chart peaks and troughs to its natural conclusion when the trend ends.

 

You see there is so much confusion in the thing you read.  Every trading book you will ever come across tells you 'let your winners run' - well, in my mind any pillock can say this without justifying it - they don't answer the next question which is 'how far?' - lets face it, every trade of more than 1 pip in profit is a winner - its as much of a winner as a 100 pip trade or even a 200-300 pip trade - when do you stop and take your money?

 

At 200 pips in profit do you let the winner run?

 

the take half scenario allows you to do both things.  Take some profit and let the winner run.

 

So the question then is where do you take profit - well to work that out decide on the timeframe you are going to trade and work out not what the average move is - but what it nearly always does.  On a one minute chart and the setup I use this is about 10 pips.  For your take half you need to look at your trades and see a pip value that your trade makes at least 70% of the time on a winner - don't count the losers cos they lose anyway.

 

Using this method a few weeks ago in a ranging market I took over 120 pips on a day that nothing was happening - just 10 at a time and let the rest run on a peak / trough trail.

 

I think I'll re-open the blog to comments - whilst they remain intelligent I'll let you have your say and I'd love to hear your comments on this subject.

 

Hope this helps.

 

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Home from away

Just to let you know I'm back from hols

 

will be posting just as soon as I delete the 1700 emails in my mailbox!!

 

Had a good time on holidays and have come back refreshed - seems my mind is not yet up to the task of staring at 5 monitors all day long - after about 3 hours today I got a stonking headache.

 

managed 3 trades today though for 30 pips in between the chaos, hope you've had a good one :)

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com

 

Update

Sorry for the total lack of updates of late and there wont be any more for the next week or so.

 

Im off on holiday on Monday for a week in the sunny climbs of Gran Canaria.

 

Before i finish off today (friday) ill be placng a long position trade on cable with the view that on Monday or Tuesday we will see a turn in the market which will break new highs by the end of the week - for those who are part of the hilda crew just take a look at the daily chart on the new setup weve been convering this week and you'll see why im looking long.

 

The position will only be small relatively speaking at £5 a pip with a stop at 1.7370 which is see as below major major support

 

im in now - whilst writing this, entered at 1.7500 - the 7370 stop is a risk of 130 pips for £650  with a target of 1.8200 = 700 pips = £3500 so r/r on this trade is around 5:1 if target is met - dont think it will be hit by my return, a more expectant figure of 1.80 will do

 

back on Tuesday 15th so keep an eye on the trade for me wont ya :)

 

 

 

From The Desk Of ...

 

Soultrader

 

http://www.simpleforexsystems.com