Tuesday, Aug, 30 2011 EUR/CHF

I went short on EUR/CHF because there was an UT in the background followed by no demand. I entered after an effort to fall through the trend line because there was strong bearish momentum. At one point I was up 70pips, but I closed out at break even. The trade was counter trend, however there was a nice divergence on RSI, and I was hoping for a reversal.

Initial Risk 60              Result: 0

Tuesday, Aug, 30 2011 USD/CHF

I went long after a test on USD/CHF  but closed out the position with a small loss because there was no effort to move up, and the test had failed. It appears that the market is being shaken out right now.
Initial Risk: 32        Result:  -11

I took  quite a big loss today when I took a trade on the new FXCM  USD index.  I never used this instrument before and didn't notice that I was WAY over leveraged when it moved against me only 10 points. I closed the position with a loss equivalent to 100 pips on E/U. It's a good thing I got out soon, otherwise I would have blown out most of my account by now.

monday, August, 22, 2011 EUR/CHF

I went short on EUR/CHF on the low of a test after a lot of weakness in the background. The test was on support, so i was expecting it to fail and see a breakout down, however the bar that I got in on turned out to be another test. I should have closed the position then. The market was weak in my opinion because there was no result to the upside after every shakeout, and effort to rise.
Result: -30

 

 

Monday, August 15, 2011 USD/CHF

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I just went short usd/chf
There is a lot of weakness on usd/chf, and as I predicted the news will be bad for USD. I'm trying something new on this trade, by combining RSI divergence with VSA principles. This trade is only experimental and I don't normally trade counter trend, this is somewhat trying to catch a falling knife. But the R/R is right so I'm going to dump 1/2 of my position at +160 and let the other half run until it reaches oversold with a stop above the UT, -130 pips. This way the only way I can loose is if price does not reach my first target. Something that never ceases to amaze me is how well S&R lines work sometimes. That dotted red line on the chart was drawn 2 weeks ago, it was an old area of support and also a 61.8% fib level..

I'm planning on dumping 1 position at around 0.7721 

Initial Risk:   91  &  129   Result: +28  +18

UPDATE: I closed the whole position because there didn't seem to be enough selling pressure to bring price down to my first target and we were in an uptrend, so the path of least resistance is up.

Thursday, Aug 4, 2011 AUD/USD

I went short on AUD/USD after an ETF into strong support. If the market was bullish you would expect to see buying immediately after instead of two narrow spread bars.  There were two stopping vol bars in the background which is strength, however the fact that they produced no result is a countermanding indication and shows weakness. When I was in profit 34 pips I moved my SL above support and just a little above where I entered. If I had moved my SL to break even I would have been stopped out, which brings me to an important point: THE MARKET DOES NOT CARE ABOUT YOUR MONEY MANAGEMENT RULES. As a trader it is important to manage your money correctly, however you must also take into consideration what the market is doing and put your SL's in relevant areas. I closed the trade because I saw strength coming in.

Initial risk: 27       Result: +36

tuesday, Aug, 2 2011 usd/chf

I went short on usd/chf after a ND bar in a down trend. My SL was set above the high of the previous bar. After a substantial move down I decided to close the position because there was NSP (no selling pressure) and I didn't want to keep  a position open during the Asian session, however when I closed the position something amazing happened. It was 17:59 EST when I pushed the close button, the price was at 0.7655. One second after I hit close the price dropped 50 pips, filled my order at 0.7613 (43 pips lower then I closed at), and then shot back up to 0.7643 all within one minute. What is even more strange is that the next 1 minute bar had almost 2x the vol.

Initial Risk: 35    Result: + 93