First trade today

Here is a chart of the first scalp.
I took .08 on my trade. Tiny right? And I missed a ton...

however.. a bit of math:

My account size $73

.08/73 = 0.11%
0.11% * 6 days = 0.66%
0.66% * 50 weeks = 32.88%


So interesting.. return on my $75

Forex Trading.

For the past 2 weeks I have been currency trading. Having been a trader for 3 or 4 years.. I find this trading excedenly satisfying.. while Im not trade large lot sizes I am making a very good precentage profitable trades.
Ive seen no need to change my style since I out lined it previously. It had worked consisetantly.

SO I will post a chart or 2 on monday night with actual trades on them

Peace

2 Trades

How I made money on my birthday!

15 Min chart said short. 5 min chart said breakdown.
1 minute chart shows the trades taken.

10.8 pips in 2 minutes...

7 trades

So far today Ive taken 7 trades, all winners.
Im up ...

here is a screen shot of the trade results... for the last 2 days.

6 Trades

I made 6 trades today all profitable. for a return of 2.1%

Mostly they conformed to my plan which is to go long or short depending on the trend of the 15 min with the RSI MACD and Stocastics in line and backed up with the 5 min and the 1 as signs

Forex Trading

I am unsure as to what this all means.

For the past 5 days I made 43 trades in the game account at OANDA. I started with 1000.oo and currently the balance is 1104.60

Every one of the 43 trades I made was profitable.

I use the 15 min chart to take the lead on. I have the 5 min and the one minute. to support the trade idea.

On the 15 min chart I have Bollingerbands, RSI Macd and Slow stocastics. On the 5 min chart I have just bollingerbands and on the one nothing.

If the RSI is moving up, as well as the slow stocatics and the MACD, then I favor long. Relationship to the BB is very important LONG under SHORT over is very key.

These are all scalps.... in and out.

Im a scalper..

I think what I need to do is do this for another 3 weeks. If it still looks good Im going to fund this account at the $500 dollar level.

Also, and more importantly I am going to meditate on my attitudes... as this game account has no pressure. I am going to try and add the pressure.

3 or 4 years, and I forget now, trading every day in stocks reading charts, learning signals and studies.. has seemed to pay off here. I dont think I ever went 4 straight profitable stock trades, much less 43 ...

As I said Im unsure as to what this means.

So...

Luiz came into the art supply store and starting talking about drawing and stuff. He then saw my Stockcharts on my laptop... You trade he says? Yes I do. (havent taken a trade this month at all)
You should trade FOREX, for get stocks. - he says...

He walks me thru setting up a Forex practice account and since then I have been trading there. No money at risk and learning a bunch.

It looks promising.

Ill keep you posted

Loss of confidence

Im not talking about the stupid FAZ fade trade I took, oh.. good for me I got stopped out but the slippage was big and ya da ya

Then I took a second trade in FAS and it would of worked but I got spooked out...

and thank goodness its the end of a dismal month...

1 trade

Winner to loser..

Great trade idea, open below the lower BB but I changed my traget to be too agressive. to 5.69 original 5.59

My target was reached.

When I put the fib on there the 38% target was my agressive target. SO ... what does that mean? does it mean that this trade was just a failed trade? and I essentially was stopped out. - could be. I “sensed” my target...

I did pulled the trigger to get out cause I was watching the 15 too and it looked good for a while then turned so out I went.

The best can be said that I managed this failed trade a lot better than I managed failed trades last year.

It would be nice to better manage a winning trade.

Hum...

        I spent last night looking over my notes and charts and results from Feb in an effort to figure out what I am doing differently and why am I getting stopped out.

As I mentioned yesterday I had thought that I had been buying fades after the open, below the lower bb. Actually non of my Feb trades were that.

My trades this month were by and large: ist half hour , direction of the futures, in if it traded over the PME and out at the stop. few runners, and few out at target.

My trades in feb were almost all: RSI moved over 30 and improving from several hours or days, in after broken trend line on the 15 min. and I had plotted pivot and r an s lines...

Two completely different styles.

So style one is completely fired..

Back to style two, beginning next week.

TZA RWM perhaps will be tradable today if they open down enought and turn over and back up over 30 RSI. other than those on my watch list nothing else is ready for a morning trade.

GLD perhaps has a ways to go up ... and I will watch. But no trades today...

1 Trade

Another stop out. This has been a string of stop outs and while they all fit my plan, being stopped out is not the way to make money. now my win percent for the month is 53% Feb it was 87%

I spent time yesterday trying to figure out what I am doing differently this month from last month. the first thing i noticed was that last month all most all of the trades were SSO and SDS. So I re arranged the desk top to look only at those and FAZ and FAS, ( I traded them last month too) this month was QID and URE as well not that that would make too big of a difference.

Todays trade was in line with the over all market.. and well as I said I was stopped out.

Im thinking last month the winning trades were all fades from the open. I am going to look at that this evening.

Because today the SDS would have worked had I taken it and it was a fade open under the lower BB while the SSO was at the top of the upper BB and didnt break out.

1 Trade

This is a day were a bit of experience pays off. Since yesterday was such a hugh day. That had a big infulence on today and i ignored that.

The futures pointed to a negative open so I looked at primarily the short etfs and focused on FAZ.

I went long when it moved over the PME. On the good side of the trade the PME was 20.76 and it shot right past that so I entered a limit buy at 20.80 which got filled on a pull back. My target was 21.07. and the stop was bottom of the entry candle initially at 20.05. Pretty wide. (too wide)

The next candle was up past the buy point but the stoc were negative for the trade and the RSI was falling. This is when I should have just pulled the plug.

It was only after the trade that I looked at the 5 min from the close of yesterday and well that told me that this was a pretty weak trade from the get go.

I was stopped out.

1 Trade

Futures way up +150 or so
Faded the FAZ on extreme outside the lower bb on the 5 and 15
I had trouble entering my buy but it filled and then I entered the limit and it filled.

ETrade has a nice function I just discovered where you can prepare orders. So I had the limit sell prepared, that allowed me to scalp this one really fast... 

+. 42

1 trade

long FAZ and out at way more than the target...

+.47
nice return

2 trades 2 days

I did not post yesterday
Stopped out on SDS for a loss

Today I sold too early.

The FAZ lined up well on the 15 and 5 but I took my scalp target. possibly I need to adjust for when the 15 and 5 line up

So yesterday I needed to widen cause only the 5 looked good, and keep with my target and today cause the 5 and 15 looked good, make a larger target


thanks

1 trade

Long qld, as it was lagging and volume came in, I quess I was late.. stopped out.

-.21

1 trade

long SSO based on market direction favored long, inside bottoming candle on 5min, move back to open high still would be inside the bb

out at 1.3% gain
+.23

1 TRADE

Futures pointed to lower open however there was not much commitement

Long the QID in the second 5 min and out the target

+1.3%

I changed back (to the plan) my target based on several observations over the last month.

Additionally SSO later moved past the PME and made the target..

But I did not take that.

1 trade

I made all the mistakes I make on this trade.
But primarily GREED is the major one.
Every thing set up well for the entry>. over the PME and I went long. I entered a limit order at the target.
Then I moved that order to a stop at the bottom of the entry candle after it closed.
Price moved up to over the target, but I was looking at R2 of 17.19
Even tho I saw that it was over the upper BB and even tho I watched it go up and over 17 ..

even thou the 5 min stocastics and MACD and RSI lookied like Crap .. I stubbornly stayed the course..

Even tho I had 2 chances to get out even I keep on holding..

I missed the target in 3 5 min candles.....

in the end I sold at the stop.

1 trade

Could not trade yesterday.
This morning SSO acted well in premarket and opened at the PME and held so I went long at 15.26 in the second 5 minute and exited at the target for +1.0%

I had adjusted my target down since I have done some analysis on the index ETFs.. To maintain the high success rate the lower target seems correct.

the target of 1.3% was reached.