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BRETT'S NAKED IN IOWA JOURNAL
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BRETT'S NAKED IN IOWA JOURNAL

  #211 (permalink)
Elite Member
Iowa City, Iowa
 
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10/13/2011 Prep

The ES and Eur/USD are both in corrective mode after huge moves up. In the Euro I'm looking for pull back to 1.3685 for a possible place to base before moving up. We could also move deeper and retest Macro bias at 1.358. I will look for shorts only until we start to have failed continuations down forming a base.

The ES is corrective and possibly moving down to 1181 area which is 50% retracement of the last action leg. Micro bias is holding at 1205 and we have a small lower high at 1196.50. If we beak 1196.50 then we could retest 1205 before we head down. If 1196.50 holds then continuations down to 1181.

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BRETT'S NAKED IN IOWA JOURNAL-eurusd-30-min-10_13_2011-prep.jpg   BRETT'S NAKED IN IOWA JOURNAL-es-12-11-5000-tick-10_13_2011-prep.jpg  
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  #212 (permalink)
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10/13/2011 trades

I had a couple of good trades today in both the Eur/Usd and ES. I exited early on the Euro because I saw the ES selling off after retesting 1204 area. I'm hoping it will come back down to the 1.3765 area before retesting yesterday's highs so I can reenter.


EUR/USD +68
ES +5.00

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BRETT'S NAKED IN IOWA JOURNAL-eurusd-7-range-10_13_2011-trade.jpg   BRETT'S NAKED IN IOWA JOURNAL-es-12-11-5-range-10_13_2011-trade.jpg  
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  #213 (permalink)
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10/18/2011 Prep


I was out the last two trading days and ready to go today. Both ES and Euro are sitting on Macro Bias up and very stretched to the down side. I'm looking for a retracement before retesting the lows again. ES resistance areas are 1209 and 1202. The Euro resistance areas are 1.3728 and 1.3789. I'm looking for shorts after failed continuation up in these areas and continuations down. If we make a high low in range after testing one of these areas I will readjust for possible longs.

Attached Thumbnails
BRETT'S NAKED IN IOWA JOURNAL-es-12-11-5000-tick-10_18_2011-prep.jpg   BRETT'S NAKED IN IOWA JOURNAL-eurusd-30-min-10_18_2011-prep.jpg  
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  #214 (permalink)
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10/18/2011 Trades

Today I let myself think that one scenario was going to happen and it cost me. I thought the ES would make a lower high after testing the Marco bias up at 1186. It never happened and the ES and Euro shot to the moon without me.

When Iím talking about fading, I mean trading against either micro or macro bias. Today if you look at my prep I show the ES holding macro bias. When a market holds bias it usually will retest the last High high or low lower. Today was a great example of this with 1186 holding and then the ES retested 1230. I really need to stick to the basics and follow my rules.

Bad trading but
ES +2.75
Euro +8 pips

Attached Thumbnails
BRETT'S NAKED IN IOWA JOURNAL-es-12-11-5-range-10_18_2011-trades.jpg   BRETT'S NAKED IN IOWA JOURNAL-eurusd-7-range-10_18_2011-trades.jpg  
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  #215 (permalink)
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10/19/2011 PREP

Today's prep is straight forward in the ES. If we hold 1215 we should move through 1227 and break out of this range. If we break out then move back into range watch out for the move down. If the euro holds 1.3815 area then we should keep moving up to retest 1.3920 area. If we break we could correct back down to 1.3782 before moving up to 1.3920. We could also retest 1.3685 if we break 1.3815.

Attached Thumbnails
BRETT'S NAKED IN IOWA JOURNAL-es-12-11-5000-tick-10_19_2011-prep.jpg   BRETT'S NAKED IN IOWA JOURNAL-eurusd-30-min-10_19_2011-prep.jpg  
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  #216 (permalink)
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10/19 AND 10/20 TRADES

I've been a little under the weather and have been helping my wife with two sick kids. My trades both days have not been very good and undisciplined. In the ES I seem to be taking more than one trade in an setup area and the fade is also killing my days. I learned that you must be at your best to play this game both mentally and physically. I might sim on the ES and work some of my bugs out but keep trading the Euro.

ES
10/19 -10.25
10/20 +2.00

Euro
10/20 8 pips

Attached Thumbnails
BRETT'S NAKED IN IOWA JOURNAL-es-12-11-5-range-10_19_2011trades.jpg   BRETT'S NAKED IN IOWA JOURNAL-es-12-11-5-range-10_20_2011.jpg   BRETT'S NAKED IN IOWA JOURNAL-eurusd-7-range-10_20_2011-trades.jpg  
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  #217 (permalink)
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Back to Trading

Hello everyone. I'm going to start my journal again, I stopped trading for awhile because I own a small business that generates 50% of its sales in the 4th quarter of the year. I found that the busier I was getting in my business, the less effective I was as a trader and a business owner. I am working toward trading full-time but my family needs the income that I consistently get out of my business so until I become more consistent with trading, I will have to do both. I hope everyone understands. I will start trading the euro and get my feet wet with that before trading futures. Thanks

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  #218 (permalink)
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Euro Trades

Last night was a pretty good start, any time a market can't make a higher high or a lower low always look for continuations counter the dirction of the failure.

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  #219 (permalink)
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1/3/2012 Trades

Getting back on track feels great, I will start posting prep in the morning and I will also show my statistic after 20 to 25 trades. My goal is to become a professional trader this year. I will only take quality setups with the trend. I will trade Aud/Usd, Eur/Usd, Corn and ES.

Today was an ok day with a small run in the afternoon with corn and one continuation in the Eur/Usd.

Corn 2 trades +3.00 total, I will have a GTC order next time I got out early because market was near the close and then it ran up 3 cents in 30 seconds.

Euro 23 pips and still holding.

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BRETT'S NAKED IN IOWA JOURNAL-zc-03-12-4-range-1_3_2012.jpg   BRETT'S NAKED IN IOWA JOURNAL-eurusd-7-range-1_3_2012.jpg  
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  #220 (permalink)
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brettwilson69 View Post
Hello everyone. I'm going to start my journal again, I stopped trading for awhile because I own a small business that generates 50% of its sales in the 4th quarter of the year. I found that the busier I was getting in my business, the less effective I was as a trader and a business owner. I am working toward trading full-time but my family needs the income that I consistently get out of my business so until I become more consistent with trading, I will have to do both. I hope everyone understands. I will start trading the euro and get my feet wet with that before trading futures. Thanks

That is the pinch of it all isn't it. Before I came back to Hawaii to finish out this subdivision I was so focused and fixated and my mind was completely in a different place. I feel I was weeks or even days from being consistently profitable, but now I feel like it is a door that just keeps getting extended...

Although I make a lot more money doing other things anyways right now... haha... Funny how we punish ourselves...

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