Long — Long from 1.5575. 100 pip TSL. Good luck everyone.

Jacko's Forex House of Pleasure and Pain

Good time to go long? — Well, I have been considering the 1.5600 area ever since the market started moving sideways a few days ago. The time is here... to go long... or to wait. I am looking to buy somewhere in between 1.5600 and 1.5550. I ...

Static's Place

Broken TL — Well we have a broken 4HR trendline. The break of the TL has been partially confirmed by the rally up to 1.5836. All we need now is a break of the 1.5720 area and it's down from there. For a while anyways :. I am beginning to ...

Static's Place

Consequences of >50 pip stops — I think the main thing to keep in mind is that if you decide to make your TSL larger than 50 pips you then commit (or should commit) yourself to trading less often. The larger stoploss is a response to the ...

Jacko's Forex House of Pleasure and Pain

The 1.5740 trade has now moved 39 pips in my hypothetical favour. haha Update: 50 pip TSL would have taken me out for +32 pips. Not a great but I was fairly certain we would see at least a 50 pip bounce with the possibility of more.

Static's Place

Running total — Trades Taken: 5 Winners: 2 Losers: 3 P/L: +172 Thoughts: AH did an excellent job there! In the intuition department, if I had closed at 1.5750 as stated earlier. I would have locked in +200 pips. Assuming I had stuck with the ...

Static's Place

It's interesting how, with this method, or any robust method I suppose, the stop size really affects how often you should be looking to get it. The emphasis on frequency of trading as a technique of money management is one that I think most people ...

Static's Place

OK — Trade #5 -- Stopped out at 1.5776 (+226 pips) Got lucky calling the retrace. Now it's a question of where it will stop. If I had been using a 50 pip stop I would be a buyer at 1.5750. As I have been near the computer I would have gotten ...

Static's Place

Ok — So I've been doing some thinking. I am about to bend one of my trading rules. I am going to reduce my trailing stop to 50 pips. At these levels I see is as highly probably we will see a pullback, I don't wish to give back 100 pips at this ...

Static's Place

Test — Testing. Lets see if I can make this journal a bit easier to follow. Here is what I'm looking at in the medium and short term. I am extremely pleased with the last trade. I expect a retrace soon, to either the 1 HR trendline, or the ...

Static's Place

Intuition — Looks like my intuition may be proven wrong. The market only has to rise 40 more pips before my stop is dragged up to the point where I considered closing at 1.5750. This would make the difference between the two decisions zero.

Static's Place

1.5750 — Well the market is hovering around 1.5750. I have the strong urge to take profit here and wait for a lower price. So for the sake of keeping track of my intuition, here is another instance where I feel like closing the trade and ...

Static's Place

Whoa. — Well, the bounce down to 1.5600 certainly had some kick. Update: Stop on trade #5 set to 1.5630 (+80 pips)

Static's Place

Stop adjusted — Stop has now been moved to 1.5560. (+10 pips) To me the market looks strong, although a bounce to 1.5600 is not out of the question. Trade is now a free trade, and as long as it makes me back what I lost, it has served it's ...

Static's Place

Update — My stop on my AH trade has now been moved to 1.5520. The trade has only 30 pips exposed at this point and the rally looks promising. I think we will probably see a retest of the newest daily highs.

Static's Place

Why the bad luck. — One of my major weaknesses is that I feel that in the past I have been waiting for too much confirmation, and I end up getting in on the top of the move. If you are buying against a volatile and substantial correction, then ...

Static's Place

Running Total — OK, just to recap on the state of my account. Trades Taken: 4 Winners: 1 Losers: 3 P/L: -54 pips My overall demeanor: Life is good, but I've had bad luck since the start of the journal.

Static's Place

Back from Vacation — Well, China was great, very relaxing. I came back to find that my limit order at 1.5600 was hit. The TSL saved me 50 pips, and I was closed out with a 50 pip loss. An AH was set at 1.5550 and that AH has just been ...

Static's Place

1.5600 — I still see 1.5600 as a good entry point. I have a buy limit at 1.5600 with 100 pip TSL. We now have a confirmed descending trendline. I will consider buying on a break of this trendline. It connects the three recent swing highs on ...

Static's Place

All together now. — Trades Taken: 3 Winners: 1 Losers: 2 P/L: -4 pips My overall demeanor: Life is still good. A 33% percent win rate is good right?? right?? I guess it depends-- in this case it's not too good. But on the bright side I've lost ...

Static's Place