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I might Win a Tablet but I might just get rich trying


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I might Win a Tablet but I might just get rich trying

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  #41 (permalink)
Nickemp
Launceston, Tasmania, Australi
 
 
Posts: 78 since Nov 2010
Thanks: 25 given, 63 received

Captains Log Star date April 2nd

That was a different week from the last few in that I managed to do a few more trades than the first three weeks of March. This was a combination of changing daylight savings hours in Europe meaning I get to see more of their morning session and me trying to get my counter trend trades running.

For the five trades I completed I was down 0.1R. My trade numbers still look OK with the obvious exception of profitability and that is down to most of my trades being scratchers.

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  #42 (permalink)
Nickemp
Launceston, Tasmania, Australi
 
 
Posts: 78 since Nov 2010
Thanks: 25 given, 63 received

Here is something I'll keep my eye on for the next little while. EUR is at long term resistance as this 10 year chart shows. It's always good to know these things

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  #43 (permalink)
Nickemp
Launceston, Tasmania, Australi
 
 
Posts: 78 since Nov 2010
Thanks: 25 given, 63 received


Captains Log Star date April 4th

Apart from a rise right at the start of the day we were once again locked in consolidation. There was a divergence signal right around the time I sat down and I missed it then nothing much until just after the news in the middle of my session. It may have been setting up for a short toward the end but more news was coming at 20:00 so I quit with no trades done.

At the bottom of this chart is the start of my price action alerts. All itís doing so far is picking out pin Bars based on certain criteria. Still some more work to go on that but I didnít really have my programming brain functioning over the weekend.

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  #44 (permalink)
Nickemp
Launceston, Tasmania, Australi
 
 
Posts: 78 since Nov 2010
Thanks: 25 given, 63 received

Captains Log Star date April 6th

April 5 was another non-trading day but today things were a little more interesting. We started in consolidation then there was a little break to the high side. This was accompanied by divergence so I was trying to get short but I noticed that I was having terrible lag time in my connection.

I re booted and by the time I had everything up and running again I had missed a good long entry.

You canít do much about that so I sat and watched it climb the upper Bollinger until I had another short entry on divergence (There were several prior opportunities but each failed). I was filled and it started going slowly in my favour. Being against the trend I wound my stop to 1 pip profit ASAP and that was hit.

Almost immediately I had another long signal off the 20MA so I placed my orders and was filled. This ground along sideways for a bit until the news candle was due and thatís where I did the wrong thing. Instead of simply closing the trade as I should (and usually do) I decided I wanted break-even or a little profit. I kept the trade running into the news and it immediately went to my stop. I turned a 0.2 or 0.3R loss into a full 1R loss.

I am glad in a way that I wasnít rewarded for doing the wrong thing even though a profit would have been nice.

As soon as it happened I realised I was trying to force my view on the market and that I wasnít trading well so I quit for the evening.

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  #45 (permalink)
Nickemp
Launceston, Tasmania, Australi
 
 
Posts: 78 since Nov 2010
Thanks: 25 given, 63 received

Captains Log Star date April 7th

There was a downtrend in progress when I hit the screens today. There was not a lot I could do other than wait for a reversal to get on board. I did exactly that but momentum seemed to die and I just had my 1 pip profit by the end of the trade.

While I was waiting I was reading the ĎAl Brooks Bookí section of this Forum. I have the book but havenít read it. I realise now that I was not alone at 30 pages in wondering if I had missed something somehow. There was value even in the little bit I did read but I havenít got much further than that yet.

Note to self Ė Keep reading

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  #46 (permalink)
Nickemp
Launceston, Tasmania, Australi
 
 
Posts: 78 since Nov 2010
Thanks: 25 given, 63 received

Captains Log Star date April 8th

There was a big move earlier today while I was out and about. By the time I was in front of he screens it was all over. The EUR was range bound and a small range at that. It started to break out but the GBP 18:30 News seemed to put an end to that.

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  #47 (permalink)
Nickemp
Launceston, Tasmania, Australi
 
 
Posts: 78 since Nov 2010
Thanks: 25 given, 63 received

Captains Log Star date April 9th

I didnít seem to get many trades done this week. Two scratch winners and 1 full R loss. Iím not worried about the quantity of trades. I have noticed that this business seems to be feast or famine. Itís mildly annoying that I wasnít able to Ďfixí my error trade but over the long term it makes little or no difference as long as I donít keep repeating he mistakes.

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  #48 (permalink)
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Nickemp View Post
I re booted and by the time I had everything up and running again I had missed a good long entry.



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  #49 (permalink)
Nickemp
Launceston, Tasmania, Australi
 
 
Posts: 78 since Nov 2010
Thanks: 25 given, 63 received

Thanks Mike

I hadn't noticed that smilie before. very appropriate

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  #50 (permalink)
Nickemp
Launceston, Tasmania, Australi
 
 
Posts: 78 since Nov 2010
Thanks: 25 given, 63 received


Captains Log Star date April 11th

It was another Ho Hum evening on the EUR. At the moment there seems to be a lot of these. I will add GBP/USD to my screens from now on and trade the pair where the action is.

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