2010 Trade Journal
- Thread starter Mr J
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skc
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That free chart is nice and clean, so I'll use that to provide a picture. I aim to trade the 4h, but many of the trades are more 1h trades so I've posted a 1h chart as well. I entered about a dozen bars ago.
Usually. It will probably range from 20 to 100 (100 if I wanted to immediately create a longterm trade, rather than trying to build shorterm trades into longterm ones). Actual risk usually isn't that large as I like to move stops up quickly early on, and if I don't like what's happening I will often close it before the stop.
It isn't really. No trade I make starts off as anything other than an intraday trade - usually 15m - and then if it runs I'll look at it on slower timeframes as well. It's not an ideal entry for me, but I think it's worth a shot. Seems that it's more costly for me to miss an entry than to enter too early.
No profit target, and my exists are discretionary. Ultimate aim in a trend is always to let it run (at least when in the direction of the trend). I also still have half of my previous trade open (the short from 1.40425).
Usually. It will probably range from 20 to 100 (100 if I wanted to immediately create a longterm trade, rather than trying to build shorterm trades into longterm ones). Actual risk usually isn't that large as I like to move stops up quickly early on, and if I don't like what's happening I will often close it before the stop.
It isn't really. No trade I make starts off as anything other than an intraday trade - usually 15m - and then if it runs I'll look at it on slower timeframes as well. It's not an ideal entry for me, but I think it's worth a shot. Seems that it's more costly for me to miss an entry than to enter too early.
skc said:
No profit target, and my exists are discretionary. Ultimate aim in a trend is always to let it run (at least when in the direction of the trend). I also still have half of my previous trade open (the short from 1.40425).
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Thx, a lot more info in your last post and the chart helps.
But I don't get this part, how do you take 15 minute trades off 1 hours charts? And this one for example, didn't run, but you are still looking at it on slower timeframes?
Also, you are short here, but you also have the original short running? So is this trade independent or is it a pyramid to the other? I.e. are the stops for both in the same place, or entirely different?
Cheers
The stops for both are roughly in the same place, but they're independent.
I don't, I watch a handful of timeframes. Trying to describe how I treat timeframe might get a little messy, as I know many people see it differently to me. A lot of people seem to put a lot of emphasis in a bunch of candles - I don't, I prefer to look at it on a faster chart. Same story, different picture. It would be clearer to just post charts.
I don't, I watch a handful of timeframes. Trying to describe how I treat timeframe might get a little messy, as I know many people see it differently to me. A lot of people seem to put a lot of emphasis in a bunch of candles - I don't, I prefer to look at it on a faster chart. Same story, different picture. It would be clearer to just post charts.
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Often has 3 chart windows open on intraday trading .......... usually 1h,5min,1min.
Just have all views in front of me for intraday ticks.
Just have all views in front of me for intraday ticks.
Mr J,
I am interested (not sure if this one is position trade), when trading "position" (trend riding), do you take fundamentals into account? Or are you purely trading from charts, eg, technicals as opposed to fundies?
Only subconsciously. That's something I'm going to look at this year. I don't know how much being informed of the fundamentals will help, but it couldn't hurt to have a more well-rounded approach. Part of me thinks that anything I need to know is reflected in price movement, but since I'm ignorant of fundamentals I wouldn't know!
Trembling Hand
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Then of course just because you make a judgment on fundamentals doesn't make it any more likely to be true than one based on TA.
So the question should be will extra add or take or just be more for nothin'
No idea, which is why I think it's worth considering.
There was a spike in the last few candles. I was in two minds about it, but dumped it for about break even (entry was 1.3924 short).
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But, wouldn't news items such as interest rates etc. impact on currencies? I've seen AUD go up (although i don't watch it that closely) when rate rises are announced.
Oil spills and shortages seem to impact on the POO, as it's about supply and demand.
For longer term trading, i'd definately use a combination of fundies and technicals. I'm not a currency trader though, but it sounds interesting. Also like the relationship between Gold and the USD.. But, you'd have to keep eye on USD and what drives it (interest rates, bonds ?? - think i posted something about this ages ago, but haven't had time to research) as Gold is reactionary to it.
Lucky you dumped the position. Have you thought about researching several markets or pairs so that your opportunities are expanded?
I don't pay much attention to it to be honest. Of course there's an impact, but I think what I need to know is shown in price movement. I'm just keeping an open mind towards it, and see if anything clicks.
We'll see. There's a good chance that I just got pushed off a decent entry.
Trembling Hand
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Just got filled for a short at 1.4035 when price wasn't within 10 pips of it.
Bloody manipulators!
You don't think this run is getting a bit old?
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white_goodman
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Bloody manipulators!
You don't think this run is getting a bit old?
yeh looks it to me....
depends on TF I guess
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Not looking to let this trade ride? Whats your stop at? What are your hopes for this trade?
My main strategy aim is to play bounces. If I think price will keep moving in one direction, I'll develop a bias, which means that I'll often look to hold onto trades in that direction, and be more cautious about trading in the opposite direction. This was primarily a bounce trade, because I'm not confident about the longterm viability of the trade. I just closed it out (1.40) because I think we're more likely to see price rise, there's news coming up, and the early entry changed things (I just hope this trade is legit).
No, it's completely relevant. We've dropped 50% of the March rally in a couple of months.
No, it's completely relevant. We've dropped 50% of the March rally in a couple of months.
What does this mean?
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