Cory2679

Well, I'm back from my little hiatus from this thread. Since I began trading live the beginning of this year, I've done well week to week. However, my results have been scattered...I'll trade with small leverage, then huge leverage, then medium leverage, then demo, then stop for a while, then live again, etc. Because of this, I feel like I've basically been just spinning my tires and getting nowhere. Therefore, I figured I needed to come up with a game-plan and stick to it! So, here it is: I'm beginning this Monday with a $5,000 FXCM Micro UK demo account that I just opened ($5,000 is the default and I can't change it...I asked). I'll be risking 5% of my account on the initial risk of each trade. I'll calculate the dollar amount for the risk based on the beginning balance of the account each week. I know 5% is relatively high position sizing, but the way I'm looking at it is that if I'm having large enough drawdowns to where risking 5% per trade becomes an issue, I'm not trading well enough and need to work on that. My plan is to trade this account until I have three weeks in a row net profitable. After that, I'll move back to my FXCM Micro UK live account, with $500 (the "recommended" minimum account size). I'll trade that account until I have three weeks in a row net profitable (ideally the first three weeks, of course!). Then finally, after that, I'll make a deposit to my live account to bring it to $5,000 (the maximum account size...it won't allow you to deposit funds past this point), and go from there! I plan to post my weekly results on this thread each Friday. I hope to be able to average 25% per week with the size I'm trading. I'm more conservatively hoping to average at least 12.5% per week. I won't even count the week as "profitable" if I have not made at least 6.25%. Also, I'm going to try my best to post all of my trades on the real-time charts thread, as close to real-time as possible/reasonable/convenient. I figure it's a good way to keep track of my trades, get feedback on my trading, and to help anyone who could benefit from my posts. Have a good weekend!!

Potential EUR/JPY long... Similar sequence on the USD/JPY, as well.

Stopped on second half for +19.6...

GBP/USD possibly resuming downtrend? (Break of the spike-low from the employment situation news.) EDIT: Struggling to break through support. This isn't the best R/R situation, either. EDIT2: Updated chart...moved SL... EDIT3: Updated chart...PT1 hit, moved stop on second half...

I had something similar happen to me just now. I saw this clear long sequence on the EUR/USD, but didn't consider it for a trade because of what I thought I knew about the fundamental/economic situation...I expected further declines. (I wasn't up for the initial entry, but I considered an entry when it gave the opportunity). Would have been a BE effort anyway, but still. That's the first time I've ever done that. It's funny...it's like the chart new before the news came out!

I caught a short on the GBP/USD this morning, and was recently looking for longs, too...on all four of my charts, actually (EUR/USD, GBP/USD, USD/JPY, EUR/JPY)...but given the time of day, I anticipate price dying off until closer to Tokyo...needs to rest after these steep downmoves. Even if there was a fill, I doubt we'd get much steam behind it. That's just my feeling. I could EASILY be proven wrong. BTW, to whoever might care, I'll be making an effort to post a lot more charts beginning next week. I'm in the process of finalizing a "game plan" which I'll share tomorrow, which includes posting all of my trades here.

It was against the up trend, but it was at an area of major resistance. I was waiting for that trade...I didn't realize it'd get there so fast from last night, though!

I'll pass...considering what you were saying and what I said above, if I took this trade I'd want to actively manage it, and I'm tired...if it were the same thing and price was at the red line, I'd probably feel comfortable enough leaving it overnight. It's pausing on the decline...it may just continue upward without filling a short order. anyway.

I see what you're saying...I think likely up to that major red resistance line I've drawn...a short sequence at that red line would be very nice. This current short sequence is tempting, though..

It's ashame, too... EDIT: A real shame...

BE effort............

Trading on the couch with a laptop in my lap is a little much. I believe I'm going to try it with a table and my laptop wireless mouse tomorrow night!

A little late...EUR/USD short...

Current look at 4 hour GBP/USD chart...

It's getting late, so even if it was I would not be taking that long at this point. Still a good place for a SL on a short, though, if not tighter. EDIT: Added an image with a trendline I didn't show in the others...

Potential reversal on USD/JPY downmove?

I'm in my 20's, not overweight, no medical conditions, live a healthy lifestyle, not married, no dependents, etc., so I personally actually only wanted the basics...basically just disaster insurance.

Luckily , I left my girlfriend's house at ten (I was trading on my laptop on the couch), so I missed out!

I just "aged off" (graduated college in May) my parents' plan, and had to get my own beginning Jan 1st, and I did it through this website as well. No complaints.

Pulled out for a 2 tick loss (17.1 tick initial risk)... I may have squeezed it too tight...didn't give it much room to breath...

Or maybe............

Current look at USD/JPY...

I'm back...following up...here it is now (the last image)...never amounted to much...and it's too late in the day to consider a trade now. -Cory

I have to leave right now to help some people with something and I'll be back later... Here's how the EUR/JPY is looking to me now...of course it may climb higher before declining and breaking the low (it's obvious how the SL & targets would be adjusted accordingly). We'll see how it looks when I get back. It is getting later and later, though (the later it gets, the less confident I am in an impending significant move)...

Here's a chart right now, for good measure. Current look at EUR/JPY. Possible short?