Thread: Discuss the AUD/USD, NZD/USD , USD/CAD and more

Very cool I got 30ish myself. What TF are you using?

Originally Posted by fahmy313

my short positions
50 green pips

JP Morgan announced a $2 billion loss in credit derivatives trading after hours...I wonder what other cockroaches are out there somewhere...

Originally Posted by JArbic

Hello Everyone,
I appreciate all the postings on the forum. I am working hard to keep a journal. It is hard for me to keep writing out all the data so I have created a form that I am using.

I am attaching it here. It is saved in as DOC file. I hope that it comes thru correctly. You can modify it to suit yourself then just three hole punch and put in a binder to keep your journal.


Hope it can help someone.
Good Luck to you all....
Joyce

Originally Posted by Gnarly

I don´t download documents from unknowns to my computer, sorry. You can maybe share a screenshot?

Hello traders!

Here is the Joyce's Trading Journal that I posted directly into the forum. Just cut and paste it into your own blank Word document and reformat it.

Congrats on to all those Aussie Bears! Honey and pips for all!

Regards,

Greg

Trade Setup and Entry Form
Trade Type: TRENDING {Day chart: Up or Down } {Entry: 4hr}
{120 pip max stop loss allowed}
Indicators to use: {SSD:14,3,3 indicating correctly} {MACD 12,26,9}
{20mva & 200 simple moving average} {S/R}

Date: ______ Time _________ Currency Pair: ________________

Max Risk %_____ $$_______ TTL$ /#Pips = Lot Size:____________


Buy or Sell: Lot #1 100k Lot R/R: ______ Support /Demand_________
Setup: Entry _________ Stop____________# pips Limit_____________# pips
Actual: Time:_____ Stop ____________ Limit_____________
Lowest Point:__________________ Highest Point:__________________ Point Closed:__________________


Buy or Sell: Lot #2 100k Lot R/R:_______ Trailing Stop ________
Entry _________ Stop____________# pips Limit_____________# pips
Actual: Time:_____ Stop ____________ Limit_____________
Lowest Point:__________________ Highest Point:__________________ Point Closed:__________________

Reason Selected this currency pair to trade: ____________________________________________________________________________________________________________
Results: Win or Lose __________#pip $__________
Goal:________________________________________________________
__________________________________________________________________
__________________________________________________________________
________________________________________________________________________

News/Economic Event –____________________________________________________ Result:__________________________________________________________________________________________________________________________________________
Entry/Exit Strategy:Stop Loss: Enter trade so as not to exceed max stop loss; wait for it!
Limit Order: Either 2:1 R/R or to next Supply/Demand; Support/Resistance Level.
RULE #1: Do Not Risk more than 3% total value of account size
Rule: Must always win more $$$ than risking or don't enter trade.
Rule: Cannot exceed 120 pip stop
Rule: Use at least 25 pips distance from S/R lines for stops
Rule: SSD indicator reading correctly for type buy or sell at correct S/R
Lot #1
Current Price:_________ Current Price:___________
+/- Stop: _________ +/- Stop: ___________pips
Stop Loss:___________#pips Equals Limit: ___________

Lot #2 Calculations for using trailing stop should be equal to stop distance plus one pip for a break even plus one. When Lot #1 closes than Lot #2 should be brought to B/E (breakeven)

Current Price:_________ Current Price:___________
+/- Stop: _________ +/- Stop: ___________pips
Stop Loss:___________#pips Equals Limit: ___________

Calculate $$$ Amount of Risk Allowed: Risk 3% MAX
Value of Account: $___________ (x) .03 (=) $___________max risk
Max Risk $_________ (less) stop loss 1 & 2 $__________ (=) __________ (should not be less than zero or I am risking too much) (If other trades opened than you need to also account for this and you cannot EXCEED the 3% in TOTAL; if so Do Not Enter Trade. Too much at Risk and not worth it!... Live to play another day!
Notes:__________________________________________________________________________________________________________________________________________________________

Hi Guys,

I have done a wave count on the Loonie pairs and discover that there might be a reversal underway. It is approaching double top and there is a divergence between the price and MACD. Going to short the currency at 1.0050 and target profit at 0.9977. Hopefully the economic data later today will support the reversal.
Attached is the hourly chart of the loonie pairs for your reference.
Pls advice.

Many thanks.
Trendie77

Originally Posted by Mary R

JP Morgan announced a $2 billion loss in credit derivatives trading after hours...I wonder what other cockroaches are out there somewhere...

Jamie Dimond stated "it was a complex trade". B.S. I don't buy it. Only thing complex was way to much leverage. Enter the Vockler rule!

Ozzie at .9820 could trigger range trading for a few months.???.....

Originally Posted by Luxuriant

Jamie Dimond stated "it was a complex trade". B.S. I don't buy it. Only thing complex was way to much leverage. Enter the Vockler rule!

I didn't hear the details but someone made a bad bet, maybe it was on sovereign debt. Banks have found ways around the Volker rule, and the European banks have much more lenient regulation ... we shall see but some of these credit derivative trades may be ticking time bombs

Originally Posted by Mary R

I didn't hear the details but someone made a bad bet, maybe it was on sovereign debt. Banks have found ways around the Volker rule, and the European banks have much more lenient regulation ... we shall see but some of these credit derivative trades may be ticking time bombs

Bloomberg is reporting its still an open trade, and that other traders could take advantage of the blood in the street.

Originally Posted by Luxuriant

Bloomberg is reporting its still an open trade, and that other traders could take advantage of the blood in the street.

If it's still an open trade on sov debt, maybe it will turn around, if the central banks buy and prop the market... isn't that what central banks are for nowaday?...lol

Originally Posted by Mary R

JP Morgan announced a $2 billion loss in credit derivatives trading after hours...I wonder what other cockroaches are out there somewhere...

Here are more potential “cockroaches”… 291 trillion of them, not all toxic, but no doubt there are more globally too

Details Of The $291 Trillion In Derivatives To Which American Taxpayers Are Exposed - Seeking Alpha

Very good CAD NFP - CAD is stronger with 65 pips - good reason to believe that the 1.0050 will work good as base for short positions.

Anyone trading this?

Hi,

i have trade this and had put up a thread for this trade. Enter at 1.0047, target profit at 0.9977. You can find my thread under "Wave count on Loonie (Short opportunity)"

Rgds

Originally Posted by Alejandro Zambrano

Very good CAD NFP - CAD is stronger with 65 pips - good reason to believe that the 1.0050 will work good as base for short positions.

Anyone trading this?

Originally Posted by Trendie77

Hi,

i have trade this and had put up a thread for this trade. Enter at 1.0047, target profit at 0.9977. You can find my thread under "Wave count on Loonie (Short opportunity)"

Rgds

Very well done, yay!!

I did not add shorts for this but held existing short positions (from higher levels mostly).

The trickier thing is what next.... not sure but as per my previous post I lean towards longing usdcad on CAD strength due to global/euro macro and USDCAD sentiment (intermediate timeframe).

G'luck

Charts from today's edition of the webinar Bulls vs. Bears @ The Trading Room 10:30 GMT (11:30 UK time or 06:30 EST Mon - Fri)

Recorded version
Bulls vs Bears - The spread Betting Morning Update May 10 - 2012 | DailyFX: Bulls vs Bears on Blip

SSI: GBPUSD Ratio Flips As Pair Carves Higher Low Around 1.6100