Cory2679

Currently short the EUR/JPY... UPDATE: I'm not actually doing it, but I'd like to be moving my stop tighter right now...

Yup...ended up being -0.16R. ---------- As far a my data and Ninja go, I'm honestly really not that worried about it. It'll just act funny sometimes. It's the Gain data feed. ---------- As far as indicators go, it's an interesting idea that I'm willing to experiment with over the coming weeks, but I haven't had a good experience with indicators (I dabbled in them some before showing up here). I haven't used them is this way, though...it was more of an effort to find the perfect set of indicators with just the right setting to ensure long-term profitability...kind of like trying to crack a mythical code to riches in the market. I understand that's not what's being suggested here, though. I'm out of here for the day...see you guys tomorrow morning!

I guess just because a lot of time had passed and I'd shut down and started it back up between the two posts...timing/alignment got a little off from the original post I guess.

Just had kind of a funny observation...on the "embarrassed" smiley, "embarrassed" is spelled wrong...it's spelled with one "r." lol :embarassed:

UPDATE: Looks like I got in just as it was going down for its weekend nap. I pulled it right before the FXCM close (4PM Eastern Time) for just a little worse than break-even, I think...I did it from my phone and it wouldn't let me view the closed position to see exactly how I did, and now my FXCM demo account is down for the weekend. This week was something of a tough week...while I certainly could have done better than I did...and I sort of lost it toward the end :embarassed:...this week was kind of lousy opportunity-wise. Even NFP failed to really wake it up. I've recovered a bit emotionally and am simply looking forward to diving back in next week. I'm just going to take any free-time this weekend to study my charts and next week, like I've said, I'll be using no trailing stops whatsoever and no break-even thresholds...hopefully I can break my habit of cutting winners...then maybe I can work on trying to intelligently cut losses, too...without cutting all the winners. I guess this will be a long weekend with Monday's holiday, so I guess I'll be back here Tuesday. Have a good weekend! Cory

Currently long the USD/JPY...

Well, I just did something I'm not very proud of. Basically, as a result of my immense frustration from the past several weeks, I completely fell off the wagon and basically tried to gamble with the NFP report...took an entry right before it. It's stupid, I know. Even if it would have gone in my favor, it does nothing to help my development, etc. I'm obviously an emotional mess with this stuff. I knew better...that's why I didn't post it in real-time. :doh: I think being sim contributed a little bit too...I think I felt a little bit like hey, it's not real money anyway, who cares. I took an entry, got stopped out with some slippage, then re-entered with a market order and took another full loss. Overall result of the two trades was -2.16R. Very stupid. On that great note, I think I'm just going to call it a week. I look forward to a weekend of crushing anxiety. Next week I'm just going to dedicate myself 100% to no trailing stops, and I will not have a break-even threshold either (just maybe getting to break-even at PT1). Might as well do what Thales and everyone else have been begging me to try for a while.

UPDATE 2: Would be out for about a 0.46R loss...still holding... FINAL UPDATE: Taken out for the full loss (-0.99R). :crap:

Currently long the EUR/USD... UPDATE: Hypothetically moved my stop tighter (dashed red line)...stop actually in original placement...

I identified it as an area of resistance before I put the trade on...I had it drawn on my original chart (the dotted magental line...my break-even threshold). It didn't really have much affect on my decision to take a long versus a short position...I got long because price had bounced at support (the long solid steel-blue line)...and that level of support can be seen better on the 4 hour chart I posted where you can see it served as support multiple times...the resistance was far enough ahead for me to get long and have some room before price reached it. Looking back, the trade could have gone a bit better had I gotten a better entry. I didn't consider a short where I went long...although in hindsight, a stop-and-reverse short would have been worthwhile once price reached my break-even threshold, but I was simply still holding onto my long and I missed it.

UPDATE: Taken out for break-even (+0.03R)...would have otherwise taken a full 1R loss. I figured what I might do for now is give up trailing stops 95% (I'm not committing to 100%...for when there's a very clear natural stop, or when there's a stop-and-reverse, etc.). I also thought I would still allow myself a break-even threshold, but just try not to be too constrictive with it. I thought the break-even threshold made sense on this trade...it was at a nice area of resistance, which could potentially serve as a "trend-killer"...and it did.

Thanks for the advice, everyone...it means a lot. Currently long the GBP/USD...

FINAL UPDATE: :doh: Taken out for break-even (+0.03R). :doh: It's crazy how I don't learn!

UPDATE: Well, I'm heading out now so I'm moving my stop to break-even. I don't have high hopes for this trade. We'll see what happens...

UPDATE: Looking a little better now...tight stop now lifted and back to the original placement to give it some room.

Currently short the EUR/USD...3 profit targets this time... UPDATE: Not liking the way this is looking...temporarily moving my stop down tight...

Gotcha. I was just trying to keep my risk as small as I could, but I see your point. I got a little lucky with that one with the intensity of the downmove...it took off and didn't look back. I of course can't count on the same thing happening next time. I entered at the dark blue solid line. The dashed light blue line was the "entry" I was anticipating and getting a head-start on.

UPDATE: Stop moved down... FINAL UPDATE: Both PT's filled. Overall result was +3.73R.

Another attempt at an early entry...EUR/JPY this time...

Update: Full loss (-0.99R).

Currently short the EUR/JPY...

An attempt at an early entry on a GBP/USD long... UPDATE: A failed attempt (-1.00R)...

Shouldawouldacoulda gotten this short on the EUR/USD, too. Should have been a stop and reverse...it was a 123 short of like-degree from the long 123 I'd just gotten into. However, I was too long biased and just hoping so hard my long would play out, I guess. Basically, if I had good reason to get long where I did (and I did), I had equal good reason to get short and had no excuse not to. I guess I just didn't have the guts or nimbleness of mind to flip short.

What a rough day. In addition to my loss, I missed this great, obvious opportunity on the USD/JPY...what a great move...it would have been hard for even me to mess that up had I gotten in it. I think I've been a little too narrowly focused on the EUR/USD, plus the USD/JPY hadn't done much during my trading hours lately. All that together I think caused me to neglect the USD/JPY a little. I'm probably done for today...time to do a post-day review, regroup, and come back fresh tomorrow...gotta just learn from today and shake it off emotionally.

Unfortunately currently long the EUR/USD...here we go again...:crap: UPDATE: Doing better than I initially thought...just needed a little patience I guess...stop currently at break-even...looking for a revisit to the high-of-the-week... FINAL UPDATE: Taken out for break-even (+0.05R). Ughh... I need a drink! haha I wish I would have taken half profit at my break-even threshold at least.