Cory2679

Hey guys, I got on at 9:30 AM EST and I haven't really seen anything worth posting/taking so far with what I'm watching (with my "untrained" eye). I could have easily missed something, though. I've attached a potential EU long opportunity... -Cory

Hey guys, I almost forgot to post my weekly P/L over here! It's probably because I don't even want to think about this week's P/L. Trading went all right, I just made a stupid mistake on my platform and paid for it: I've posted two images - the true end of the week P/L (with the deposit to make it even again), and the "before disaster" P/L. -Cory

Hey guys, I'm here today, but half way. I had to send a bank statement, credit card statement, passport, and social security card to FXCM, and explain that I am actually a US resident, not a UK resident. I think it's all straight now! My deposit of $48.81 triggered all that. Plus, I had to catch up with some friends. I'll be back full force on Monday, 7:30am to between 2-4pm EST. Question about this trade... Of course it's visually very obvious, hitting resistance, and was very profitable. The only question I have is...isn't it a less probable trade to fade an impulsive move like that? It was moving SUPER strong to the upside. I can see why maybe someone would just be waiting for a move like that to turn around, and there it gave an obvious opportunity to get in. I'd just be hesistant to fade an upmove like that... -Cory EDIT: For further clarification, this is the concept I'm referring to:

Quadruple!!...ESPECIALLY for any longer-term, overnight trade where I might not necessarily be watching the charts. I think that was part of my problem...I treated the overnight trade with the same carelessness as a trade where I'm actively watching the chart. Not that I should ever be careless, but while watching the chart, I can catch myself in any mistakes like that before any major damage is done (especially when taking trades off 15min charts, as opposed to 89t charts, etc.). Overnight, those orders had BETTER be right, because I won't be there to intervene.

:o Thanks for the advice, but it's too late. I do understand and agree with what you're saying, though. Next time!

I didn't take this. Started to get choppy. I had my eye some things today that never filled. I got on a little late...around 9am or a little after (eastern time). So, no trades for me today. Yesterday I didn't get on until almost 11am and I had a stomach ache the night before that kept me up so I just took the morning off. However, last night, I had gone short on the EJ (longer term, PT1 @ about 60 ticks), and had thought I moved my stop to BE but I made a careless mistake and entered the wrong number. Anyways, the end of the story is that my account is now at $201.19. I'm VERY, VERY angry with myself. If there was an award for the dumbest mistake a trader's ever made, I truly think I've earned it. It's probably best that I didn't take any trades today (due to my mental state after seeing the loss) and that I just demo trade tomorrow and have the weekend to recharge and get back on track. I think my state of mind is probably the worst possible for trading right now. I'm a mess. :o I had my mistakes from Tuesday, which at least still left me up about 15% for the week. But, now this?! I think "bad" emotions in trading can definitely have a snowball effect. I've decided to refund my account to put it at $250 again, and "start over" next week. This week has been an utter disaster. I'm sure anyone who was cheering me on in my progress has got to be pretty disappointed. BUT, I'm going to try to stay positive...I think there's a lot for me to be positive about right now in my trading. Starting FRESH next week! -Cory

Possible EJ short...

I was out of commission yesterday. I'm back now.

Re-entering like that probably wasn't by itself a bad idea (after all, you were short at the time). It was more about my motives behind it, my frame of mind, what I was thinking, etc. Agreed. And because of this, I really think I'm exactly where I need to be right now in my trading "growth"...trading a small live account. Moving forward tomorrow, today's lessons should be fresh in my mind and hopefully I won't make the same mistakes I did today. At least I got through today without doing any damage to my account. Well, I'm outta here for the day!

Well, I had jumped back in to the GU short on the pullback. I just pulled out and my end result for the day is up a net of $5.85. (I made $31.32 yesterday). I realize I'm in a very dangerous state of mind and that was probably something of a revenge trade to get at least even or better for the day (I was down $0.75). I swear, at this point, I have have shut down FXCM. No more trading today. Obviously trading real money has affected me a little. But it's not the money itself. I mean, we're talking about 10's of dollars. It's more that this is now my "official" track record, so to speak. Anyways, time to reflect and start fresh tomorrow. I'm pretty disappointed with myself today. :embarassed: Live and learn (and re-learn, and then re-learn again). -Cory

Well, today has been horrendous. I took the GU long, and got stopped out for a loss. Then I reversed my position, and made up for all but $0.75 of my loss. HOWEVER...this is why I am SOO angry right now... As you can see on my GU short chart, my profit target was actually hit and would have filled, and would have not only made up for 100% of the loss, but would have made me net $10+ for the day. BUT, here's what I did...when price was approaching the PT, I was thinking "Gee, it'd really be nice to have my account top $300 on this trade." So I eliminated my limit order and had my finger on the trigger to pull out once my account topped $300. Once it started to reverse, out of disgust with myself, I just pulled out. I didn't want a trade that had already hit my PT to reverse back and get BE (and be substantially down for the day). I'm SOOO mad right now. The best thing I can do is step away. At least I didn't do too much damage. :crap::crap::crap::crap: -Cory

I am currently in this trade. I've moved my stop tighter.

That's a real shame...I'm really sorry to hear that. I'm sure you're perfectly aware of the impact you've had on some people here and how grateful we are. Those people who PM'd you aren't truly mad at you, they're truly mad at themselves and this is how they're handling their own frustration. These people are in stage 3 of the "stages of a trader" - The Cynical Skepticism Stage. "This excuse-driven blame game is a dead-end viewpoint, and explains a lot of what you find on message boards. Those who can't pull themselves out of it will quit." Plus, there are people out there with certain strong beliefs, that they have for whatever reason, that they're not willing to forsake. One example might be that reading price is impossible (because they have yet to succeed at it or understand it).

Hey guys, This will be my first post on this forum outside of Thales's thread. lol I thought I'd join the fun over here... Pretty good first trading day for the year...this was my first day live in a long time. I started today with a $250 FXCM micro UK account. I'll post today's P/L just for fun because I'm excited! I'm not going to make a habit of this though. At the most, I'll post weekly P/L. To me, it's just added stress to have to worry about posting daily results. I don't think I'm personally ready for that. -Cory

I'm all done for the day. Eventually I'll probably trade the first part of Asia too, but for right now, I like my trading confined to the first half of the day...it's good for my state of mind I think. Pretty good first trading day for the year...this was my first day live in a long time. I started today with a $250 FXCM micro UK account. I'll post today's P/L just for fun because I'm excited! I'm not going to make a habit of this though. At the most, I'll post weekly P/L. To me, it's just added stress to have to worry about posting daily results. I don't think I'm personally ready for that. -Cory EDIT: I posted this same thing in the P/L thread: I'll post things like this over there from now on, as it's the more appropriate thread...

Slightly better than BE final result.

Stop is now @ BE......

I took this trade, and have now moved my stop tighter... (Albeit with only one PT, which is much closer.)

Final results: 1st half = 30.6 ticks, 2nd half = 4.6 ticks, average = 17.6 ticks...

Yup...plus, we're at a level of potential resistance on the 4H chart...

Update2: Stop for second half moved down.

Updated Chart: PT1 Hit, stop @ BE on second half.

Maybe a potential EJ short? Could still be headed higher, though...maybe up to around 134.50.

Hey guys, I had a suggestion for the spreadsheet, so rather than just post it, I've attached my edited version for anyone who's interested. The only thing I changed was the "Tick Value" column for the retail forex rows. I removed the drop-down lists and allowed the user to enter the value... This just makes it more exact, because depending on the pair, the tick value can vary. The FXCM platform quotes the tick value for each pair in real-time (I'd post a picture, but it doesn't allow me to sign on when the market's "closed" over the weekend). I appreicate Thales putting this together. This is a better version of what I had posted here, which required trial and error to calculate position size: The profit calculator does the job, but Thales's spreadsheet is more convenient. -Cory Position Size - FX Micro Mini Standard with examples(Cory2679Edit).xls

Trade finished. 1st Half = +36.4 ticks, 2nd Half = +8.4 ticks (AVG = +22.4). That's it for me. I have somewhere I have to be soon. Happy New Year!