I lurk mostly at FF but found a few interesting threads here & figured I'd combo my intro post into a two week live journal. I'm planning to move over to IB in order to incorporate futs & stocks into my fx trading...I'm sure I'll have questions for some of the futures.io (formerly BMT) members in the near future.
I'll record my trading 14-Oct through 26-Oct, simple retests of broke S&R on the daily, 4hr & 1hr is what I look for nearly exclusively.
I've been trading live for five years, almost exclusively S&R in one form or another. As of late, ran into a 15% draw down June - August, pulled the account back to new highs in early September, only to relapse into draw down later that month. Heavy resistance at account highs, looking to bust this level by COB 2012.
Live trader pushing a mid 5 digit account, Oanda w/MT4 charting, trading around ~70+hr work week, spotty net connection & constant travel. Cheers
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While I associate closely to the Fail Better thread, it really boils down support and resistance and basic breakout strategies.
I've only recently started incorporating Tom's swing pattern failure setups, simply after witnessing how many "breakouts" indeed fail/are purposely run up in price by the big boys.
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Earlier this year, I combed through the massive amount of setups posted in the fail better thread in addition to my own folders and threw my favourites into a two part PDF. Enjoy.
Super slow 14 days for myself. Off for holiday, may post up another 14 day run upon my return.
No trades last week, one trade this week. U/CAD swing pattern failure (SPF) short, a setup I picked up on from the Fail Better thread. Essentially, you're playing a fake breakout. Watching for price to push above/below a daily high or support/resist level, get the retail traders to buy into a "breakout" and then send price smashing in the opposite direction.
Shorted UCAD, closed for +20 prior to the CAD rates news.
The UCAD setup shown below, daily & 4hr.
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