Really not the real thing: March 2009

Monday, March 30, 2009

Igor Al combination

Add another 20 pips (20 cents, new trade type) on the channel break.
I SHOULD have taken the short from the channel bounce at the top. I will next time. Especially with the present daily trend.

Took 4 trades. 3 success 1 failure.
The failure was a failed L2 which I stuck on for for 2 long. Need to make a "template" for L2's. Think it will go like this. Stop loss will be 1 pip above the signal candle. SL to break even at 10 plus pips. Take profit on PA.

Had 2 successful L2s on the strong EURJPY push down.

Had 1 successful channel play on the retracement.

Total of plus 120 pips. Nice change. (the final channel trade was a trial trade so was done at 1pip to 1 cent, 48 pips (48 cents!)) The others were normal trades for me so were 1 pip $1. Plus 120 minus 48.

Thursday, March 26, 2009

A matter of choice

Great article on the danger of going for the best, when good enough is better.

http://www.scribd.com/doc/13260167/The-Paradox-of-Choice

Monday, March 23, 2009

Three rising valleys

Just studied this with Bulkowski (http://thepatternsite.com/3fp.html)
And found one immediately (past tense (found)... already gone), but this is quite a simple pattern to find, with the trend. I will look for more of these.

Target hit

Wow! I am going to have to start believing some of these theories. This one worked.

Expanding triangle

Is this going to hit my target? I pulled out at plus 2 pips!! Not confident in the trade yet, still a theory to me. Great risk return on this though. Stop loss is at the top of the highest candle. Small stop loss to potential return. Take profit is at the base of the previous high move.

Friday, March 20, 2009

C wave

I caught this C wave.

Wednesday, March 18, 2009

hate these days

Full of meetings, and meetings, I could not spend time infront of a computer screen until now.
Classic breakout; overshoot; retest of the bottom; retest failure; trend changes to bull; leg one up.
I did not trade any of it!!! Yaaaaaa

Tuesday, March 17, 2009

"Snuggled" another in the opposite direction

"Snuggled" new trade .... about the only decent move yesterday

This one appears once every couple of days but has a great move value, breakout value. Candles are trapped between a trendline and the moving average. The breakout is to the side of the moving average they are on.

Monday, March 16, 2009

Wedge breakout with the trend

Tight wedge overshoot and then breakout, this time with the trend. What more can you ask for?

Wednesday, March 11, 2009

Failed L2

This is a failed L2.
I made 5 pips on the L2 iteself (took half and let the other half to break even), but expected more. Al Brooks says he will always "Long" a failed L2 and "Short" a failed H2.
Lets see in the morning what happens here. No predictions.

30 minutes later, I remember Al Brooks words, LEARNERS (myself) should just look for L2's and H2's ON THE MOVING AVERAGE.
Note to self Jon: Rather than just looking for overlapping candles, look for 2 legs back, especially back to the moving average. I did not trade this as I was keen to see the results for future reference.

Wedge Pound Dollar

I have some money on this one (max of 30pip stop loss money)
Will this wedge go somewhere (preferably with the trend and go south)

Tuesday, March 10, 2009

Breakout Entries

Always struggled with a breakout, when to enter.
Studied last nights breakout with some good likely entries.
Unfortunately for the London Open breakouts there usually is NO pullback, just one long powerful breakout candle. Need to work out a way to enter these as well.

L2's on the moving average

To quote Al Brooks "What a beginner should do is just look for L2's and H2's on the moving average." I have struggled with this a little as often they have seemed to fail until I realized that rather than just a higher or lower candle, rather a first leg and a second leg. Here is a classic today on the pound dollar. Need to also work out a profit projection.

Best move of the day on the pound dollar

Unfortunately gone to bed, waiting for this breakout all day

Swing High/ Swing Low pound ... US$

Did a study using the 5 min chart looking for important swing highs and swing lows so far this year (2009), basically where do they occur the most.
If this period had a significant swing high or swing low for the day it was given 1 point

Monday, March 9, 2009

GBP USD

Hard to see on my little lap top

Need to memorize how a trend ends (for the day at least)

Friday, March 6, 2009

3rd time lucky or unlucky?

Price action seems to make 3 attempts and either breaks through or gives up and changes direction after the third try. In the last 2 days I watched (and was involved financially) in both of these. I ignored the first day (at a cost) so watched the second day carefully and was able to breakeven.

First the pound dollar yesterday after London open.

The the EURJPY today after London open.

Thursday, March 5, 2009

EURJPY dragon

You have to live in the Orient to enjoy this one

Trendline break failure

When to get on the trend? When the trendline break fails.

EURJPY Vic Traders 2B

GBPUSD Vic Traders 2B trade

Wow, very clear now, missed this.

Tick chart

I took a screen shot of this ideal rollover (a L2 in Al Brooks books) of the tick chart. Needless to say the trade went for a good dive after the rollover.