Who keeps you Accountable?

At work, your boss holds you accountable to what your position is to produce. In marriage you are accountable to you mate. You make sure each of you are pullin your own weight in the relationship (unless she wears the pants) keepin each other accountable to the vows that you said to each other. As a parent you stay on top of your kids making sure they follow the house rules, disciplining them when needed so that they can grow up to become productive adults.

Who keeps you accountable to your trading? Hope you don't say no one, or worse: myself.

There are life coaches, personal trainers and mentors for a reason. They keep you focused and make sure you are following the rules that will make you a better.... whatever you do. So Im going to ask you again: Who keeps you accountable to your trading?

Mine, TRADERCISCO. Love the guy to death. We started trading around the same time. I started about a month or two before him, loved it so much I wanted him to learn, so we made it happen. We would study trades together and study the same way. The trust we have in each other is in my opinion like no other. If I where not around charts and he called me and said "Get in EURUSD now!" all I ask is "Where's the stop?" I get in blindly cause I have that much faith and trust in his ability as a trader, and I know he would do the same thing if I called him.

So how do we keep each other Accountable? Most important way is callin each other "Stupid" when it applies. LOL. I can't tell you how many times we both have jumped the gun in getting in a trade before every rule for that trade has finished lining up. While the other sits on the side line saying "Duh, this rule hasn't happened yet, what are you doing?" Establishing rules and sticking to them is a key way to becoming a successful trader.

Or how about the "I hate you!" LOL. There have been so many times we both will be in a trade and one may take profits to soon. Of course whenever you TP too soon 3 seconds later it runs 100+ pips. That's when TRADERCISCO tells me he hates me. I cry one little tear cause it hurt my feelings, but the 100+ pips I catch more then make up for it. (Love you TRADERCISCO) You need to have an idea about where the market is going so you can maximize your profits.

That brings us to the "What the hell are you doing!!!!" We risk the around the same % on the trades we enter. So when one of us tells the other how many lots we have going, if it is over the risk level we are suppose to be at, it is our duty to remind the other how important risk management is. Without proper risk on every trade, it is very easy to treat the market like vegas, double down and lose an account in one day. (Been there done that, learned that lesson)

And finally we come to the "What was that?" A failed trade. Because we trade the same trades we have four sets of eye looking at the charts, plus the eyes of those we mentor. When TRADERCISCO and I have a failed trade we BOTH are looking to see what happened, where did we go wrong, what rule did we break etc. Learning from a failed trade helps us to string trade (I beat him in string trading though. That is a fun game to play) but more importantly helps us to know when NOT to enter the market. Just like every trade has a rule for getting in, you should just as many rules for knowing when not to.

I hope you where able to catch the four points that you and your Accountability partner should focus on so both of you can and will become successful traders. I have an accountability contract that I used to have. It breaks down the trades I trade, their rules and proper risk for the trades. It is signed by both me and my accountability partner. I would have it sitting on my desk as a constant reminder of what Im suppose to be trading. Keeps you from revenge trading after a loss. If you would like to see or want a copy let me know. I will have to dig it up, but it helped me stay focus enough to string 50+ trades in a row with no loss.

Real American trader

We Salute you TRADERCISCO.
Your tweets come to my cell phone at all hours of the night.
(Tweet Tweet Tweet)
We talk so much, both our wives tells us to get a room.
(Who is that on the phone, let me guess Scott?)
We just talked on Skpye and then texted each other 2 minutes later
But we don't care. We are here to make pips and that all that matters.
So here's to you TRADECISCO, keep them tweets and pips comin.

Thank you Scott, you da man!

Pip T
pippin.tee@gmail.com

Say Whaaaa?

1000 pips is not to bad. I just got in AUDJPY on another entry. I got a signal to get in EURJPY with another entry but past on it because the stop was to large. If the EURJPY comes up a little and makes the stop about 60-70, then I will add another entry and short that also.

Account x Risk= Reward

So last week I found myself in about 6 trades at one time. The trade we have been focusing on often goes off at the same time on multiple currencies. I know you may be wondering "What kind of risk am I taking on my account?" Well, I can safely say that I was under 3% risk at all times, and this is how:

I was in a few trades that where in profits by the time I got another signal to re-enter more trades. I was able to move Break Even on a number of entries which freed me up to be able to get in a few more trades. I lost on the GBPUSD, which does not surprise me cause I tend to always lose money on that pair. I only risked 1.5% on that trade. The profits I made on the other trades that paid out more then made up for that lost trade. I ended that day with a little over 10% gain on my account. Another account I trade I have almost doubled this month. That account is a high risk account that I trade about 10% risk per trade on.

I always watch my risk. I think my risk is more important to understand then the trade you will trade. Not only my risk on my account, but also the risk ratio of the trade itself. I personally like 1:1 or better ratio. It makes no sense to me to risk 50+ pips on a stop and only go for 20 pips. If the trade where to fail you are now 3 trade away from break even and profit. Not to mention you are now trading with less money then what you started with, which also means your entries will be less in a monetary value.

I could go on and on about risk ratio's but most people already understand it. If you don't, a few more lost trades will teach you very quickly. LOL (we all gotta learn some time)

"Think of a lost trade as a mini seminar. You better have learned something from it and taken notes otherwise it was a waste of money" Pip T

What I missed, What I made.

So last night I was trading the D2 that happend on the Eurusd. Im still in it and up a lil over 100 pips at the time of writing this. I actually entered a few times on 30min breakouts and took profits on those. I have my original entry still left and it is running strong going long. We tapped the Blue River line on the day, if we can break it we may be able to see more Bear action on the eur. It has been in a long upward trend for awhile, so a good drop may be in order, espcially since Mr. B was talking favorably about the dollar this week.

Not to long after I got in the Eurusd, the Eurjpy did what i thought to be a head fake on the 30min consolidation trade that I do. It broke my low then retraced, then broke it again. According to my rules, I need a candle open below my breakou range. By the time I got that my stop would have been about 70 pips. I should have traded it anyway but didn't. Now I wish I did becasue that entry is now up over 150 pips. Not only that but the was possible opportunities for maybe 1 more entry on it. I have been wanting to go long on the Eurjpy because in my opinion the over trend of the day is to short it.

Eurjpy, Going short

So, I got in the Eurjpy on a 30min consolidation breakout. As I was about to get in the trade, my internet dropped. I was flipping out cause these breakouts, when they happen, tend to pay pretty fast. By the time I got my router restarted the market was about 20 pips above the open. So I lucked out and got a GREAT entry that created a 15 pip stop.

Around the same time I got in the 2hr cross on the Eurusd for a sell. That trade hung around until Mr. B started talking favorably about the dollar. When that happened the Eurusd fell like a rock. I think I took about 60+ pips on that until it stopped me out with profits.

Eurjpy Dropped pretty good around the same time. So as you can imagine, I was going crazy trying to keep up with taking profits and moving stops.

My game plan is to keel entery short on the Eurjpy as more 30min consolidations form and break on the short side. We have the Day ROI failing and 4hr BB's being created. 4.30 trades pretty well and consistanly on the Eurjpy, so I will be looking for that as further confirmations to get in. We are also looking at Day trendwall lines to be broken on the short side also.

short target on eurjpy for me is 132.60 area. then 132.15-01 area. So we shall see how the rest of the Eurjpy will act over the next coming days.

What Im Working With

So I finally got my desk set up after 3 months. I cannot wait for next week of trading. Talk about being able to see what's happening. I bought two 25.5" Samsung Tv's from Sam's a few months ago and they have been sitting in their boxes. Im primed and ready.

Fruitful day.

So my sells on the Eurjpy and Usdjpy along with my long position on the Usdcad paid out pretty well. I am going for a record pip total and hope to make it next week. I left all my entries in as we go into the weekend. Moved the stop into "world money" so as to be sure to lock in some profits.

My thoughts on the Usdcad are to stay long on it. We broke on the topside of the downward trend that is has been in for awhile. So I do hope that with the next coming days, my enrty will continue to compound and I will look for new places to enter long and let it ride.

Usdjpy has taken a nice drop back into the downward trend is has been in. I have a target of 89.70 area which we are only 30 pips away from. We should see the Usdjpy retrace back bull before another surge bear happens.

As for the Eurjpy, looks like it to is falling back into the downward trend that it had previously been in. So I will look for more bear entries on this pair during next week also.

Good stuff. This was a very fun week of trading for me. Feels very good to start back into my trading routine with a week like this.

Pip T

Where in the world have I been?????

Well, this move has taken more time out of my trading life then I ever could have imagined. Im in the house, and have internet so I got that going for me. I was also able to do some trading while in Cancun. that was actually pretty cool. Internet only worked from the room, so I was not able to trade on the beach like I wanted to but i probably would have gotten sand in my laptop or something crazy like that.

Now on to trading. I have been trading the 4:30's on the GbpJpy along with a few Day 2's and 1.5's along the way. Allso added a consolidation trade to my trading, complements of the Cisco Kid.

Total pips I got was lil over 400 pips this week. I got stopped out of the long position i have on the GBPJPY as it was climbing to my target of 154.60 area. An annoucement made it drop like a rock. Now it looks like it want to get back into the upward trend that it was in. So we shall see.

At the time of writing this I am currently shorting the USDJPY at 91.28, shorting the EURJPY at 135.47 and I still have an invesment entry on the USDCAD at 1.0637. I see some possible day trendwall breaking on the CAD which is why i still have this position in. I took profits on this entry already, so I could get stopped out. Its my "Don't Care" entry so i dont even look at it anymore.

I will be posting more often as I continue to trade to the goal of $95k.

Labor Day

So I plan on staying out until London open on Tuesday. To risky to trade on low volume days. No point in giving money away.

USDJPY Short

So, Im riding the Yen train down. My entry at 93.30 is still paying out nicely. I want to talk about why i got in on it.

1. Day trendwall break. We broke a day trendwall and the hook was happending right when the 2hr BB was hit. It was not a D2, which is why i stayed out of the trade with some of my other accounts that I trade. There was also an annoucement that caused the hook to.
2. 2hr BB. The stop was pretty small, think it was 50 pips. The annoucement allowed me to put in a great cost avg spot at 93.30 with a 17 pip stop.

Start of a new Month

So Im in the GBPCHF going long with three entries: 1.7265 (D.4.1), 1.7214 (cost avg) and 1.7245 (D.4.2.1). Right now I am just waiting. Gonna hold the positions as long as I can. I think this a very low spot where we are at. Once we can break the 2hr Red river line we should hv smooth sailing. The day ROI is really low in the channel and has been trying to cross up for awhile now. We have week river in agreement with us also. When we get above the blue river line ont he week, we should see more bear.

D2 Come Back

Finally got some good D2 action tonight. As it stands right now I am up 140 pips in usdjpy, 40 pips on the eurusd and 30 pips on the usdchf. I passed on the gbpusd D2 cause the 2hr looked kinda flat and project ROI was not growing enough for me to trade.

So I have taken profits and now all I left are my "Don't Care" entries. I will let these marinate and go back to sleep. Hope they continue to pay out and I can be up over 100 pips going into the weekend. If so I will continue to hold them and come Monday look for more reasons to get back in.

Good night.

My Goodness!!!!!!

So if you didn't know, I have been moving for most of this month. Took losses with everyone during that last week of July and first week of August on those D2's that where failing left and right because of announcements.

With the move and all, I was finally able to get a few minutes and get into the D2 on the Usdjpy. As I am writing this, I am currently up about 70 pips on my "Don't Care" entry. I am even considering getting in again on a small entry when the 2hr crosses again later on today. I know the day is failing, but this would only be the second cross on this D2, but if we breach the previous days low of 93.66 we should see it fall to at least 92.94-93.10 area which is one of my targets. If we breach 93.66 we should also see the day ROI open back up.

We had a fresh Day ROI cross last night on the UsdhChf, and currently waiting for the 2hr to reload and get into agreement. Looks like we might have a stop around 1.0690 area with a few S90's to help with resistance for us. I have a short target of 1.0520.

The EurUsd will have a fresh Day ROI cross tonight. I have a long target of 1.4370 area to try and trade too. A good stop has not be created in my opinion just yet. Think we will see a little more bear before we go bull and get in.

So the big question is how is my challenge going?

Poorly. I was doing really good until those losses beat me up. Then I have been moving this whole month. As it stands right now my account sits at about $3900. I should be back to my starting balance plus profit once these D2's on the Eur and Chf start.

I still think I will be able to hit the challenge in a short time period. I have some plans and also a few new trades that we have been working on that I think will help hit the mark in a short time period. Keep following me on my journey to $5k to $95k in 90 Days.

Plans for this week.

So I plan on waiting for the gbpusd 2hr to get into agreement with the day. That will probably happen in the am seeing that we are still in the 100 area for projected ROI's.

We are also having a Day BB happening tonight on the EurUsd. That should be a good play also.

It will be a crazy week for me since I am moving, so I will not be able to do to much, but I know I will not miss these trades.

What's the game plan on D2?

Well this was one crazy week for D2's. Took some losses but thats ok. Looking forward to the new 2hr cross on the Eurusd.

Al the Yen's have Day ROI that are failing, so I will probably just sit out of the Yens and see what happens.

As far as the challenge goes, I am down about a grand in my account. Looking forward to making it back next week.

Darn Yen Stopped me out

Been a crazy week. Some D2's this week where failing and some D2's where paying out. I of course picked the ones that failed. It happens. the next crosses should be good ones as I hope trend walls will get broken.

UsdJpy stopped me out with a lil over 210 pips.

The .50 on the Yen

So we have a S90 at 94.40 area on both the 2hr and 4hr charts that is duplicated with a .50 Fib level of this big surge that we saw today. So Im thinking the market may come down to that level and build a support for us to move our stops to. May even be able to get in again for another buy entry. We shall see.

Yen Yen Yen

This is where I stand in the challenge account. My first trade was successful if you remember. I took a lose on the jpy earlier this week which on took back my profits. I am back to being up in the account and plan on leaving my position as long as possible. With the week crossing up next week, I am hoping to see more bull moves on the jpy. As you can see I have moved my stop even on the trade and will wait for a new support to be created as we may see dips down.

I am a stop chaser. I love moving my stop to "Correct" way, that being with the market, not moving it to stay in a failing trade. So lets see what we can shake out of the forex market.

From Bad to Good, The Yen is my Friend

So we got into the Usdjpy yesterday afternoon on the 4hr cross, and it did nothing for about 12 hrs. Then if finally got jump started and we are now up 70 pips as I am writing this now.

So what is my game plan for the rest of the week? Well, Im still in the Eurusd with 2 investment entries and they are up. One entries is up 220 pips and the other 70 pips. We had a day trend wall break out a few days ago, so Im hoping it keeps climbing. I have many of those pips locked it as new supports are being created, so I will just keep moving it as we continue to see a bull move on the Eur. It could turn any day now as wee see the Day ROI is failing, so I will let the market stop me out whenever it does.

As far as the JPY is concerned, I closed half my entry with about 50 pips profit and I moved even on my challenge account. I am hoping that with this entry we are jumping the week cross that will happen next week. I have a target of 95.90 area for the JPY so lets hope we get there before the market closes tomorrow. My medium target is 97.30 and long term is 102.60.

Lets see what happens. I don't think I will add and new entries, Im just going to let what I have cook. Im locked in with profits so all my entries are "Don't Care" trades.

Usdjpy Losing trade

So we took a loss on the jpy, am I worried that we have a failing trading formula? Well, I pulled a report for my trading from June 1st until today and I traded 126 trades with 18 failed trades. Am I profitable, what do you think? O, and by the way, they consider a failed trade when my inv. lot would come back and stop me out. I really only had 2-3 true failed trades, the rest of the failed trades where my inv. lots being stopped out, but I already made money cause I buy my trade every time.

This failure today on the jpy was also during an announcement, so in my book it is an announcement driven failure.

What's my game plan for the week? Im chillin, gonna take it easy and just wait for fresh days to get back into agreement with the weeks. I have no problem waiting for a good trade to set up.

Patience Pays

I can also afford to wait because we have taken several hundred pips this month already. I am still in the Eurusd with 3 entries and have a lil over 300 pips locked in. I do not for see adding any more bull entries on it since we have the day failing. Ill keep moving my stop and let the market stop me out. If they day opens up and starts going again, I may consider adding another entry on a 415 430 d2 or 1.5. Im sure i will post anything I do on twitter so everyone can stay up to date.

Have fun and don't stress. Shiz happens. We just have to be around when it turns into daisy's.

Dealing with the lost D2 trade on GbpUsd

Remember our failed D2 on the GbpUsd last week? If you remember I said that the following D2 after a failed one would cover the lost plus profits. Look at the last 2hr cross up on the GbpUsd. The entry would have been on a Sunday night. I personally have no problem trading Sunday night as long as the ROI projections are really high.

You would have been looking at a 100 pip stop and currently it has paid out a little over 180 pips.

Could you have made your loss back? MMMMMMaybe, you gotta trade it though. I have yet to see a back to back failure on the D2, unless of course you are trading it on a failing day ROI.

So lets continue to trade the D2 profitably.

What I am looking at this coming week

So all I was able to do today was move my stop to new resistance that has been created on both the Eurusd and the Usdjpy. I dont know how many pips I have locked in on the Eurusd. I know I have 3 entries rnning on it and might, and I really mean MIGHT trade the next next 2hr cross on the Eurusd. I want it to break the week trend-wall. If it can break the week trend-wall, then we should see it continue its bull position. It is getting close to my target of 1.4320, about 100 pips away from where we are now which is 1.4224.

The USDJPY i think I am for sure going to trade the next 2hr cross up. We have the day growing in our favor AND the week is crossing up next week (as long as we stay bull that is)

As far as the challenge goes, I will wait for the next 2hr crosses that I like. I have no problem waiting for what I feel to be a very good trade or a trade that will pay out.

Selective Successful Trading is what I want.

End of Day 1

So I made the quota for the challenge, that being 50 pips, my account balance is at $5500 after day one of trading. As you can see i had a loss on the gbpusd. It was a very small loss because i did not have my $5k deposited into the account when the trade went off. You can see the first entry on the challenge I did was the Usdjpy D2. My WIFE, believe it or not, closed my order for me. How you ask? Well, I was playing golf when the market was going to close. I had set a value up alarm to let me know when the market reached about 45 pips. I got a text message sent to me, and because FXCM does not have a mobile platform, my wife had to close my position. Imagine me trying to call my wife and walk her threw closing my position. It all worked out, she was able to close the position for me 5 minutes before market closed at 3pm.

Here is a pix of my report for the day along with the position I left in on the usdjpy. I can't lose any money on that position so I did not mind leaving the position in over the weekend. Plus when Tokyo opens Sunday night, we will have a 4hr BB, along with the day and we broke 4hr trend walls, reasons to stay in or get in.

Well its almost 2am Friday night. Im sleepy. Have a great weekend, I know I will.

Day 1: Usdjpy

So I have started the challenge and its time for everyone to come along for the ride with me. My first trade is on the usdjpy with an entry at 93.79 and a stop around 93.15. I am seriously thinking about leaving this entry in for the very long haul. I want to trade to 94.60 area before I think about taking any profits off the table.

I will take a pix of the dealer station and post it here a little later on today. Got a Tee time at noon, so that should help relax me. Believe it or not, Im not stressed about the account one bit. This well be one of the best learning experiences ever and I know I'm ready for it.

Very Exciting Times

So starting this week I will start the 5k to 95k in 90 days challenge. The reason I am willing to start this challenge is because I feel confident in my trades, I trust them and I trust the way I trade them.

One of the main things I had to consider in starting this challenge is the risk level involved. Because this will be a high risk account, I am comfortable losing this money emotionally. What I mean by that is, if I have a few losing trades, I will not be revenge trading to make the money back. Reason why is going into this challenge I can stand to lose all this money. I am emotionally and more importantly prepared for that to happen. If I lost all $5k, it will not hurt me financially and I personally think that is key to trade this type of risk successfully.

I'll treat it like a demo ;)

So here are my rules that I will follow when it comes to trading the challenge:

1. Trade 1 standard lot first month, 3 the second and 5 the third month
2. Trade trades that have a 50 or less stop for at least the first 5 trades of the month
3. Never miss the first 2-2hr X's after a day cross
4. If I lose more than 40% of my account, I will change my risk back to a level I am comfortable with. Trade my account back to even, then continue with the challenge.
5. I will post a screen shot of my account to keep everyone up to date on my success or failures.

I hope everyone will be able to share in my success and learn something from it, good or bad. It will be fun.

USDJPY

Got stopped out of my UsdJpy entry from a week ago w 195 pips. O well, it happens.

I will next be looking for buys on the Eurusd in another hour and try to lock in profits. We have Day crossing up tonight and if i can get in and lock in now, when the day finally crossed up and we start having D2's, then i will be in it early.

Gbpusd, Gbpjpy, Usdjpy, and Eurusd

So I sold all of those pairs today and a few traders where able to trade it with me. I have purchased my "Dont Care" entry and plan on leaving it in for as long as possible. I will post some targets for them when I can find some good ones.

Stopped out, O Well.

Got stopped out of the Audusd and the Eurusd, with profit of course. The good part is we maybe able to get in the Eurusd again for the drop so we can break the 1.3794 area.

I will be looking at the Usdjpy for sells again starting tonight. Ill keep you posted.

In the AudUsd

We got an alarm to get in on the AudUsd for a sell with targets to 1.7227. Im in at 1.7936 w stops above 1.8006

EurUsd for this week

So I plan on trading the EurUsd for sells this coming week. Il will probably get in the Eur in the next couple hrs with a stop around 1.4037 with a target around 1.3794 then to 1.3394. So lets see what happens. Should be a fun drop.

Stopped out of JPY

Well, I got stopped out. Not to happy, but got stopped out w about 100 pips. My 96.00 area targets where hit. Came close to the 97 one's, maybe next time.

Stay posted cause I am going to Blog about what my plans are for the EurUsd next week. Should be some good moves I hope.

Study, study and study some more.

My JPY Trade

Im still in the USDJPY trade. Up a lil over 160 pips so far. My targets of 96.00 and 96.60 have been hit. I am waiting to see t 97.26 to be hit. It will either break that area or bounce off of it. It has bounce twice off that area already, so we shall see what happens.

How do I feel about my position? Well I have been taking profits every 50 pips or so. I moved into the world by one pip and it came within 5 pips from stopping me out before taking off, so I am a happy camper. You get very tired of the banks coming and taking you our by a pip or two, then taking off for the big move you where waiting for.

When we get to 97.26 area I will probably take more $$$$ off the table and leave one last entry in. At that point it will be a true "I don't care trade."

Im not looking at getting it to anything this week since its a holiday and we have non farm. I will just keep riding the USDJPY as long as I can.

I will be looking for BUYS next week on the EURGBP. Haven't traded that in awhile so should be fun.

Trading the USDJPY this week

So its Sunday night and I am in the UsdJpy with a scout trade. My first target is 96.00, for obvious reasons. Then after that I want to stay in it to 96.60 then 97.20. Long range to 98.10.

I also at some point want to get into the GBPUSD for sells at some point. Ill be looking for a possibly entry, but we have the day failing on us, so i may just wait for a fresh day cross.

Stupid move turns into $$$

So I got stopped out of the CHF with 69 pips. Then I accidently closed my Eur trade w 160 pips. I did not want to close my Eur, but owell.

I am currently in the Gbpusd on a sell with three entries: 1.6586, 1.6543 and another at 1.6524. If we can break the day trendwall, we should see a good drop to 1.6153 then possibly 1.5960 area. We should then see a pull back once it hits 1.5960.

I really hope the Gbpusd can get there, I've gotten used to over 150 pip runs so I want to keep my record going. The Eur needs to break below 1.4004 for us to see a drop on the Gbp.

Ill keep you posted.

Great Day Trading

So me and a few other traders got in the Eur and Chf last night and got paid out BIG TIME!!!

I am still in a buy on the Eur and am up over 220 pips right now. I have a target of 1.4310. Once it passes that, which I think it will because it has bounced off that area a few times now. So i think the next time we get up there, we are going threw it. My next target is 1.5304.

I am also still in the sell on the Chf and up over 200 pips on that. I have a target of 1.0526, then 1.0368. we may get a bounce off that level if it doesn't break threw it.

So what did I do today? I increased my account 10% only risking a little over 2%. 1% risk on Eur and 1% risk on Chf. So for those that think they have to risk more than 3% to make a living trading forex, guess what? You don't. Be selective and patient and the trades will come to you.

Happy trading, I know I am. (At least for today)

Been traveling.

Summer vacation has started and I have been traveling like crazy. The good news is I have been able to catch some pretty big moves. The begin of the month I think I took 200+ pips on the Eur. Lat week I was able to take over 400 pips on the Eur again.

I am currently in the Eur on a buy and the GBP for a buy also. Im up over 150 pips on the Eur coming into this weekend. I hope they both keep climbing. Still looking for upper targets on both of them, but for the time being I will be looking for bull entries on both of those pairs.

Been crazy!!

So we have been doing some studies and some trading on a few new trades. We are close to getting the hang of them. We are going to be looking for buys on the JPY tonight and tomorrow with a target of 98.04.

Hope to be able to ride it.

T

Nothing New

I missed a few trades this week and caught a few. it was pretty slow for me, mainly cause i am studying a new trade right now. I have a feeling it will help me out in the future giving me reasons to stay in a trade longer and/or get in a long term trade early.

Next week we should have some good movement on most trades, only problem being non farm friday. Ill be up dating my targets over the weekend for next week trades.

"Ride the Roller Coaster"

Buying JPY

so Im buying the jpy now, trying to take it to 97.54 area, then reverse my entry. lets see what happens.

JPY Targets hit

My JPY targets where hit. To bad i got stopped out of my investment lot to take advantage of the moves. I did learn something which is the important part. Never move my original stop. That is actually one of the main rules that we made some time ago. Owell, its ok to break a rule to make money, not to lose it.

Nothing Spectacular

Taking my boy camping. Father son time. Will see what plays out next week. Digging myself out a hole. That is what I get for trading someone else's trade Im not familiar with.

The lastest.

Ive been WW this week a little. Did a few trades to try and get locked in on JPY sells. Been picking up pips there but my INV lot has been takin out. Looks like it will present itself some time today.

The other pairs has not giving me good entry points yet, and it looks like we are having trend changes on the Eur and Chf. So i have to keep an eye out on those.

Im out the JPY

So I got stopped out of the JPY. I know people are gonna ask me "Why would you see 100 pips and give most of it back?"

Because it was an "I don't care" entry. My plan was to stay with the trend and move my stop, not my limit, when new resistances where formed. As they where formed I moved my stop. I made money selling it on my main lot anyway.

So what do I do now? It is still in a downward trend, so because of that I will keep an eye out for sell entries. It will get to my 97.00 area at some point. I want to be able to get some.

Plan your trade, trade your plan.

Still selling the Jpy

So I moved my stop to 98.51. I am in at 98.81. Still have a target of 97.00 area that i plan to hold to trade to, so we will see. It feels good to move your stop the "Correct" way, WITH the trend, instead of moving it to stay in a bad trade.

Big Pippin. 

Where Im at right now.

Here is where i stand right now. Im up I think 107 pips. Still about 80 pips away from my target. Waiting for resistance to be formed so i can move my stop.

Up 100 Pips on jpy

Still in this trade. Im up 100 pips right now. still gonna let it run. we have a nice down trend on the 4hr that i plan on taking advantage of.

Me and the JPY

I got in the Jpy last night at 98.81. Took about 15 pips and left in an investment lot. Right now I am up 40+ pips. My first short term target was already hit at 98.30 area. Waiting for more resistances to be created so i can keep bringing down my stop.

Plan on staying in it to my 97.00 area target. 

As far as everything else, I am still WW for good signals and reasons to get in them.

Made some good pips last week. I will post another screen shot of my trades later on today.

Happy Trading, I know I am!!!

Recently

This last week we where able to see our long term targets get hit. I need to spend some time going back threw my post to find the targets I had posted, but I know our JPY target was hit. 

This coming next week we will be looking for buys again on the jpy, but we will be also looking for buys on the GBPCHF also. I will be posting my targets to the right.

I got spanked!!!!

I traded a breakout that missed my TP by one pip. So instead of make $100 i lost $500. Ill post it later, but right now I mad and can only be mad at myself for over trading my account. Something I preach that you should not do.

So as it stands I ended the week with a negative P/L. I will get it back next week. Learn my lesson. The plan for next week is 1,000 pips. I still plan on trading in the directions that I indicated earlier on the few pairs I plan on trading.

Next week will be a VERY good week. Dust the dirty off the sandels and get back on track.

My Plan for the Chf

I plan on selling the Chf. There looks like there will be a down trend starting tonight sometime. So as I get a signal to sell, I will be leaving in an investment lot. I have a target of 1.0742 to trade to. That is about 1400 pips from where we are now. That is long term so lets see how long it takes to get there.

I will also be looking to buy the Eur. I have a long term target of 1.4287. 1000 pips from where we are at now.

Moral of the Story

So I missed some big moves last night of course. They happened so fast my alarms on my charts could not keep up. I just pulled down a few pips right now on a few pairs. I killed a Eurgbp trade cause the broker spread was 9. It paid out 10 pips but it wasnt enough to cover the spread. So I killed it. Nothing wrong w taking a $3 loss to protect my money.

I am not going to miss the big moves that will happen tonight. Looking to lock in a few trades for a trend. so lets see how that goes.

How trading went today.

Only picked up a few pips today. Waiting for a few new signals to go off before the next round of trading happens. which will probably be very late tonight. Looking to see what will happen with the London open tonight.

Big Pipping Song

So me and a few traders from Forex Movement recorded a fun song for traders. It was fun and I hope you all enjoy it.

Big Pipping Song (click to download)

I made it a free ringtone. You can send it to your phone and save it as my ringtone. That way you know a Big Pipper is calling you when I call.

Enjoy

FYI, so far i just picked up 10 pips on the CHF. All my trades that i was waiting for hit last night a hour before I woke up. So i missed out on a little over 100 pips. But that is usually how it goes.

Taking last week off

I took most of last week off because of the G20 meeting and non farm. I didnt know what impact it could have on the markets so I stayed away. But from the looks of things, there where no big swings.

I will be back later on when London opens to post what I will be looking to do. As it stands now I will be looking to:

Sell the Eur

Buy the GBP

Sell the JPY

Buy the CHF

Sell the AUD

Buy the CAD

Game plan for Wednesday

Watching and waiting. I think the market is kinda consolidating. Getting ready for whatever moves may happen tomorrow. We have a handful of announcements tomorrow and we have non farm on Friday.

I am looking for buys on the Jpy today. That is the only trade that I see may happen.

Ill let you know what I do.

What I did Monday

So the trades I called out yesterday all paid out at least 60+ pips.

I caught about 100 pips selling the jpy. I missed the other trades cause I accidently silenced my computer, so my alarms where going off but I didnt hear them.

So how did i end the day negative? The Eur failed and I accidently entered a standard lot instead of a half standard. When my stop was hit I flipped the trade and got half my loss back.

But a loss is a loss.

Trading Plan for Monday

Selling the EurUsd

Selling GbpUsd

Selling UsdJpy

Buying Usd Chf

Selling Aud Usd

Buying Usd Cad

Going for 20 pips on one entry and leaving an Investment lot on each because the pairs are starting to trend in the direction I plan on trading them.

So lets watch and see what happens. Even if I just for for 20 pips on each pair, I should make about 120 pips on the low end for the day.

Ill be using our 51 pip stop loss, so my risk is minimal.

Big Pipping

So I am going to start a trading plan that the mentors at Forex Movement has helped develop. It is a great plan that is simple to follow and does not require me to stare at charts all day to be profitable trading the forex. 

I currently have about $3800 in my trading account. I want to make the first grand trading first before starting the challenge. So i should have that in the next week or so.

Here is my account and last few trades as we stand today:

I am excited to start this and will be posting everyday all my trades, win or lose.