Levels

It seems that matching levels with green/red gives better results than just taking the signals in no man's land. First trade was just off green, even though I had DP at 68. Thought about waiting for 68, but got greedy, thinking I might sneak in a few pips here. Did have abt 2 pips profit, but got even more greedy and convincing myself that it will bounce for 10pips here. Exited for a small loss. Finally when 68 arrived, I was too hesitant to take it because of the prior loss, so waited for some sort of indication of reversal. It came with that little spike down and shoot up. Took the buy, made up for the loss and some more. Next trade was an impatience trade, even though it did give me positive pips, but not something I want to take. Got to keep it in my head, wait for your price!!!

last trade of the day for me. Decided to wait for the figure rather than take the red signal. The pace with which it was moving, seemed like 00 would hit for sure (maybe should learn there is no sure thing!). Just hit the sell after it broke 00 by a few pips and then failed to continue. Was looking for 4-5pips out of this and got them.

Second trade was basically off the red, and hitting highs of the day. Then I hesitated to take the setup I had been waiting for. Trend on 5tick is up, and was waiting for a level and green on 1tick. My reason for not taking the trade was that news had just come out 1min ago, it was bad news, and I was expecting a push to 2600 before a nice rally up. And before I could react to the sharp upmove, it had already started going, and I didn't know where to get back in, as I had no idea where it would keep going to. First sell after the upmove was basically halt at 50 level, it didn't halt, so exited. Next trade was the halt after clearing the daily pivot at 60. next trade was basically what I was expecting a profit taking move, but it didn't eventuate so exited.

recovery mode

Yesterday was a big lesson in patience. When I eventually did execute the plan, computer gave me troubles, and that just set me in a bad mood. Tried to take continuations out of nowhere, and managed to do a bit of damage to the account. So, right now, am in recovery mode.

Managed a good day today, back to the plan.

Missed the entire run down on eu. Not sure if I would have taken any trades in the run down though. Came to the desk and saw the string of greens before, looked for the closest level, and it was 51 being S1. Waited to see how price would behave around the 50 mark, took the second push down and failure. Exited for 5pips, but could have had more.

Happened to switch on the computers, and saw this setup. Pivot at 26, red, new highs for the session, push up, failed push, and in we go, exit at 5pips. Second entry was taken on a lower high after the failed push up after my first exit. I think I'll leave it at this for the day.

Go Brittany

OOPPPSSS I did it again is the only thing that comes to mind at the moment. Yesterday was a very mixed day. Started off experimenting with EJ during US news, bad idea. Then decided that continuation trading would be good for today(momentary attack of insanity). I was so convinced that eu was going to continue past the figure that I didn't take my normal set up of short at the figure. Lost a bit. Calmed myself down, and then proceeded to make all of it back slowly just following my own setups. Finished the day b/e, but net negative due to commissions. Still, I think it was an acheivement in itself to get back the losses.

Took the first red after the green cycled already. But the way things were shaping up, it looked like the figure would be hit. Took the first gap up past figure, exited as soon as I saw it halt on quote panel, and given the size of the pull back, a safe bet going long again into the break of the figure. Exited at the first spike up. Thought abt short at 05 to test 00, but the way it had been building up on the 5M was not confident of such a quick retrace. Had Daily r1 at 2921 and also the previous day's high at 2919, so decided to wait for that level. Also, the highest volume candle for yesterday was around this level. Got in abt 2pips late, so took early profit.

A day of could have been...

Today was a day of could have been for sure. My first trade was taken at the day's open level with green coming up. Didn't get much out of the bounce. My favourite trade is highlighted in the blue rectangle, always good for 10pips atleast. Green, then a sharp pointy dip and then a bit of a failed attempt push around a level. Just wasn't there to actually take that trade.

second trade

Took this trade as it was hitting new highs of the day and it was showing red. After the big push into new highs, and the subsequent hesitation, took the sell, and just exited for +5. Usually, I would have re-entered the market into the buy off 30 or 35, but had made enough for the day.

Didn't get a chance to trade on friday.

First trade today was rejection off figure. Was actually expecting a dip below the 00 level as it hadn't really moved all that far down to reach it, but when it rejected off it, and then second push did not take it lower, I entered. I was actually going to hold for a while as was expecting atleast 10pips, but the first big spike up made me nervous so I exited.

2 trades today. the first was a buy off the lows of yesterday, and the sell was taken off break out of resistance, but ej was hitting daily pivot and usdchf was holding the round number. both ej and eu had already travelled with quite a bit of momentum leading upto the high resistance area, so retrace was high probability.

could have re-entered short a little later, but was too chicken, and already too tired to concentrate.

Trust what you know

Ok, these were my only 2 trades today. Have gone back to my motto of following the pip plan. All I know is that it will take a certain number of pips for me to get to a certain $ value of acct. I had stopped trying to take all of what the market gave, and just taken what I could get initially and not come back to the screen. My personal statistics were always that the longer I spent at the desk, the more I lost, even if I was up initially.

So after these two trades, I was finished for the day.

The first trade was a basic plan setup. Second trade is what I love, failed up/down thrusts. Very tight stop, and a simple clear exit. Now market did keep going up later, but I did not enter on any continuations because I have no idea where the retrace stops.

Have been a bit busy to post screenshots.

Have had 2 days of memory lapse and insanity took over. Left my trading setups in favour of continuation moves, and got done hard. No idea why, it was like I had it, and then all of a sudden lost it.

Well, am back on money today, so shall post screen shots later on.

In time to come, REMINDER TO MYSELF - DON'T CHANGE WHAT WORKS FOR U!!!!

the good, the bad and the not so bad.

Well, today was a day of overtrading, not sticking to the plan, but when the plan was executed as it should have been, it came out very well.

First trade was exactly what I look for, green, and then a pause.

Second trade was something that I used to do, and don't look for anymore, but since this was just after news, momentum looked like it was there to continue on. This was not sticking to the plan.

the following few trades were over trading, as neither did I have green, nor did I have a level. My next level was at 57, and all those buys in between were just overtrading and trying to be pre-emptive, which is never a good result.

When I saw it stall just above 57, and usd/chf was hitting the weekly pivot, I hit the buy expecting a 10pip move, but it didn't eventuate, so I exited.

Had I waited for the 57 level, which came a few mins later, I could have entered at 57/58 and had a 10pip move.

Oh well, everyday is a lesson learnt!

Something to keep an eye on - reminder to myself

Just something that I have been observing, and I got to keep reminding myself. Before my session starts, I should look at the 5tick chart to see where the chart was in regards to being ob/os. If the last colour was red, then market has already cycled ob, so I need to be only looking for the market to start to cycle up, ie get a green at a 'level'.

Something that I will keep an eye on to see how it pans out.

Did it again!!!!

As the song goes, "I did it again..." Had a moment of brilliance, and thought i would try my hand at the continuation trading as eu is trending quite nicely these days. Had several small 2-4pip losses, only to see them go my way eventually. Quite frustrating, just like the old days. My only consolation that these trades were very small size trades. So when I eventually did take my setup, oversold, over shoot, at the weekly r1, push up, try and fail, I took it with my normal lost size so was able to recover most of my earlier losses.

Moral of the story, once you know what you are not good at, don't attempt to do it, esp when you already have something that works.