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Wednesday, 30 December 2009

Still eatin

So it's now December the 30th, I've still not done any real trading. HAd a sneaky look at the charts on Monday to see what was going on. There was a couple of trades that set up, but due to the low market volatility, not much happened with them.

On the plus side had some great crimmy presents. Got one of those Samsung U10 flash video cameras off my mum. It's great. So handy to make little videos with, it's similar to the FlipHD, but I think the Samsung is better as it does full 1080p recording and still pictures.

My beautiful girlfriend got me alsorts of goodies. The best one by far was something called AeroGarden. It's an indoor hydroponic garden for growing things like herbs, and fruit for cooking. I love cooking, and the AeroGarden is just out of this world. I love it.

But, back to trading, again not really going to do anything until new year and everyone is back to work, and the markets get back to normal.

So, I've still got a lot of food to eat, so it's off for some bacon on toast to start my day.

Have a happy new year what ever you get up to.

Thursday, 24 December 2009

Crimmy Eve

Well the big day is almost upon us. I have managed to do all my shopping and wrapping before Christmas Eve this year. Woohoo!!

Literally haven't looked at the charts at all this week, so I don't really know what's been happening. Probably have next week off too unless I get bored with food and family.

Just got to nip out to Asda in a bit and get some party treats for tonights buffet, then it's feet up, glass of wine and the eating begins, can't wait :)

Monday, 21 December 2009

Not much happening

Decided on Friday afternoon that I'm pretty much gonna take a couple weeks off for christmas from solid trading. Gonna spend some time with family and friends, eat food, enjoy all that christmas brings and recharge my batteries ready for the new year.

That said, I'm not gonna stay away from the screens totally. I'll have a quick look in on the market every now and again, but apart from that, that's it for my full time trading for 2009.

This weekend was spent being outside in the snow that has fallen here in Manchester in the UK. Saturday involved a traditional christmas pub crawl. Starting at 12 noon and ending at 2am. The theme was fancy dress, for everyone else. I how ever don't do fancy dress, so I improvised a little bit...



It went down a treat. Speaking of treats I may add a link to the whole photo album from Saturday that I put on my flickr page!

Today is Monday 21st December, my girlfriend is currently upstairs wrapping pressies, so I'm not allowed anywhere near the bedroom. I took a quick look at the charts at around half 10 and it all looked very quiet. May have another look after lunch.

Friday, 18 December 2009

Friday 18.12.09

Not quite ready for going out yet, so I thought I'd post an update. Had a little bit of action overnight. The EURJPY swing that triggered last night hit T1 and T2 levels during the night. Didn't quite reach T3 before it got stopped out this morning.

Also had a pending GBPJPY trade from yesterday that triggered during the night. Agin this only hot T1 levels before I managed it to a small loss when I got the desk this morning. All in all that's about it. Not much else to really report on. Not really looking for any new trades now today due to going out after lunch time I would imagine.

So that is my trading week blogged.

EURJPY Result



GBPJPY Overnight Swing

Thursday, 17 December 2009

Evening update and the day.

Well it turned out to be a really quiet day for me today. The only trade during my normal trading hours was the GBPJPY scalper trade mantioned earlier. This managed to hit 1st target level, but then retraced and stopped out. Due to the way I manage my trades, the stop was manged to 50% once T1 was hit to manage my risk.

So that was it for the "office hours". Still had my 3 swing trades pending from this morning as well. I was about to cancel them all as I might be busy tomorrow on some personal errands, and don't know how often I'll be able to check the charts, but before I could do that, the EURJPY swing trade triggered, so I'll have to find some time to keep an eye on that now.

GBPJPY Scalper end result



EURJPY Evening Swinger



As I'm supposed to be busy and away from the trading desk tomorrow, I might not be able to update as often. So until then.

Really slow day.

Today has been a day for patience. It's been a very slow day. Have 3 pending swing trades still setup from this morning, and a little scalp trade on GBPJPY that has just triggered. But that's it really today. Nothing much to write about.

This is the GBPJPY scalper trade that has just triggered.

Early morning

Found myself being awake earlier than usual this morning. Couldn't sleep for some reason. Think it was one of those instances where my head was awake before my body, and running at a million miles per hour.

So while I'm awake, I thought I'd open up the charts and have a look what happened over night. The first thing that I noticed is my open swingers closed out for a combined small pip profit. The next thing I notice is that there is a bit of retracement going on on the charts this morning.

Starting with potential swing trades

GBPUSD Price has now retraced back down to the weekly open level, creating an ideal bar. Need to wait for the current live 4hr bar to close at 11am GMT before any further action can be taken.

EURUSD After yesterdays retracement, direction now back short in line with weekly direction. However, at the time of writing >65% weekly ATR done. Need to wait for some retracement for trade potential.

EURJPY Only positive for trade potential so far. Weekly direction was long. Ideal bar created overnight and price switched to short direction. Now waiting for the current live 4hr bar to close short at 11am GMT to place a pending short order. Plenty of potential still left on weekly ATR.

GBPJPY Price direction still long, but some retracement from last night and the overnight session meaning the earliest I could look to enter a trade, assuming the current 4hr bar closes bearish at 11am, is 3pm.

SCALPERS

EURJPY Daily ATR done. Looking for some retracements to bring some potential back to the day.

EURUSD Same as EURJPY.

GBPJPY Price retracing. Nothing to do till at least 3pm.

GBPUSD Price retraced back down to weekly open. Noting to do yet.

So that's a brief run down of how I see the day today. Definately a slow morning predicted. Next thing to do is wait till 11am GMT.

Wednesday, 16 December 2009

End of day thoughts...

I was going to post an end of day summary on the trades today. What I have found is that it's not as easy as I thought going through all the different trades and listing them along with the entry levels, and targets etc. I have realised I need to keep a paper record of my trades, like a log book. It's old school, but you can't beat a paper and pen to keep a record of things. It will also make it easier to do these end of day reports.

So this isn't exactly the summary I was hoping for, but it will get better as the days and weeks go on.

GBPUSD Scalper targets hit

The GBPUSD scalper trade from earlier today has also just closed out having hit all 3 targets marks. Been a good day for the scalpers today. Some of the swingers still active, so maybe a little bit of management on them as the evening carries on.

GBPUSD Targets

GBPJPY Scalp targets hit

The GBPJPY scalp trade that triggered earlier today, and was highlighted here in my blog finally hit all 3 targets this afternoon for a pip total of +120 on the position alone.

GBPJPY Scalp



As I write this update out, GBPUSD and GBPJPY swing trades are moving well. EURUSD and EURJPY are starting to move against me at the moment, but that's just how things happen.

Current open trades as of right now are below. May start posting an end of day screen shot of trades that have happened during the day. Need to see how that works out.

Open Trades

Mid-day update.

Just a quick mid-day update.

Had a scalper trade trigger that had been pending from Monday.

GBPUSD



Also tracking a couple of scalper set ups on GBPUSD and EUJPY. Only the GBPUSD has triggered so far on a breakout pullback of the live 4hr open price.

GBPUSD Scalp



Will see what happens after ounch time now when we get into the US session.

GBPJPY Scalp Entry

Decided not to second guess myself on the scalper entry. I ID'd a pattern, so I'm going to trade it. This is where my blog comes in handy because I can look back on this when the pattern develops again in the future, and see what I was thinging, and what I did.

GBPJPY

Morning house keeping.

Just a little bit of housework to do on my open swing trades this morning regarding managing the trades from the overnight session. Had a quick look for scalp setups also. Missed a scalp on GJ earlier on a bias change, but wasn't at the screen, wsa in bed so not a lot I could do about that one. Looking now, it looks like an alt bias change has developed, but not 100% if its valid. The pattern is LL, LH, HH. Gonna keep my eye on it.

Here's what I've done so far.

EURUSD



EURJPY



GBPJPY

Tuesday, 15 December 2009

This afternoon's action.

Well I had a bit of quick fire action this afternoon. The GBPJPY scalper finally did it's job and went and hit all 3 targets. So that's 120 pips in the bag for that trade.



The swinger also triggered for GBPJPY, hitting 1st target and bagging me 70 pips.

Also had a trade on EURJPY and EURUSD trigger as well. Both were swing trades.

So that's about it for my main day's trading. Another fairly slow one, but it's ok. I'll just keep an eye on the open positions i've got around the 7pm mark, and 11pm, if I'm still awake. Other than that, not a lo else left for me to do.

Still going slowly

The swing trades are still active. Started to slow down a bit now coming into the US session.

One other thing to note is a scalper entry on the GBPJPY. It's hit 1st target, and is just bobbing around at the moment.

Just nipped round to a friends house as well while my girlfriend does her hair for her works crimmy doo. Luckily I've got things set up on my lap top, and am pinching her wireless connection. :)

At Last Some Action

So finally a couple of those pending trades from yesterday have finally triggered. They didn't trigger till early this morning, but one of them quickly took out the 1st TP target :)

A few others are starting to show some definate signs of a direction, so hopefully may see some more action this morning as well.

So first up is the EURUSD. This hit 1st target, so that's +40 pips banked on the that trade so far, and trade management is now active on that trade.

eu-swing-15.12

Next up is the GBPJPY. This is moving a bit slower, so nothing to report on that as of yet.

gj-swing-15.12

Sooooooo, lets see how the rest of the day goes.

Monday, 14 December 2009

Slooooooowwww day

What a really slow day. It's now 5:49pm GMT as I type this, and not 1 trade has triggered yet. Nearest so far is GBPUSD.

The trades are still valid though, so still a waiting game.

On the plus side, or negative depending on how you look at it, I took the chance to nip to the Trafford Centre, which is my local shopping mall, and fight with the christmas crowds. Oh joy!

Other Charts

Here are what the other charts look like.

EURUSD

eu-swing-14.12

Next one GBPJPY

gj-swing-14.12

Monday 9am trades

So, here is what I'm looking at so far as at 9am GMT.

I'm trying to determine where the weekly bias is going to be on a Monday for the rest of the week. I use the weekly open price as my marker.

First up is GBPUSD. Couple of "ideal bars" formed, but I'm only interested in the 3am-7am bar. Pending entry set at low and high of bar. Which ever one triggers first will be the direction for the week, unless price moves back to the weekly open mark, where the process will be started again.


gu-swing-14.12

The rest of my pairs all look pretty similar for the moment. All orders are pending.

ej-swing-14.12

So we'll see which ones trigger and go from there. Nothing much more to do until that happens.

Start of week 14.12.09

Well another week begins, and this is also the start of my first full week of blogging my trades throughout the day, so who knows how that'll go.

Had to spend quite some time last night setting up my laptop. I am primarily a MAC user. I used to be a PC man, but used a macbook and I was converted. But, my trading platform will not run on a MAC. Now I usually remote connect to my server PC running XP to trade, but, I'm having to go out at lunch time, and won't be back home till tomorrow evening, and I decided it would be easier to trade direct from my laptop, rather than try remote accessing server PC's from a different location.

So I installed a prgram called Parallels on the MAC. Basically, it's like a virtual PC environment. So I can install XP on the virtual machine, and load my trading platfom up. So I did that last night, but it took a bit of time getting everything loaded properly, and looking the way I want.

Bottom line, I'm up and running now :)

Friday, 11 December 2009

Seeing some nice retracements so far today on my pairs. Hopefully setting up some trades later today and tomorrow.

So far for me GU is the only one that has set up anything. I have a pending swing trade and scalp setting up. Don't know whether that is the correct thing to be doing. I'll attach a screen of both trades for you to advise.

I know the swing is a definate set up. Retracement has brought some potential back into the trade, but the scalp I'm a bit more unsure on. It's prob easier to upload the chart rather than try explain that one.

First chart is the swing trade



First blog

Started a blog to monitor my progress as a trader on the forex markets. It's more of a self critique exercise on my part really. I'll be attempting to put down my thoughts, and trades for me to read back on and learn.

I have been researching trading on Forex since July 2008. I had a brief pause from March 09 - Oct 09 due to work commitments. I have since been made unemployed and have plenty of time on my hands, and have made a personal decision that I need to give this my full attention and see if I can make a living out of it, before I resign myself to having to go working for someone for the rest of my life.

I'm not intending on making £1000 a day from the get go, that isn't possible or going to happen. Expectations need to be managed.

So here we go then. Lets blog away.