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Old 11-04-2009, 11:21 PM
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Kenny's tribulations - Journal and Plan
Alrighty, a little about myself:
Turned 10k into 70k during the Lehman collapse (not trading lehman)
... then lost most of it thought the bottom was in. (it was in march)
turned to forex got burned 10k until i finally got some discipline starting now.

Ok i trade EUR/JPY pair 90% of the time. I like the low spreads and the volatility of it. I love to use fibonacci.

Ok so today i went long eur at 8:48 AM EST at 133.21 which was smack on the middle fibonacci line ( out of the 3 ). At 8:54 i got worried it was stuck ie an error/bug no executions were going through i got worried but 10 min later it came back on. I waited for the ISM manufacturing index and it was lower than expected, i knew it would go back up but it breached all my fibonacci lines so i exited it with a 6 pip profit. Thats the only trade i remember today.

Right now i have a position in long eur at 133.950 with a stop at 133.797 going to ride this one overnight. (Starting now i'll always have a small overnight position for fun =D wish me luck )
Hopefully i'll post regularly from now on and would like to share my experiences with my fellow traders. Cheers!

PS: i'd like to thank Helene for helping me yesterday with my stop order yesterday that didn't go through. You were swift and reassuring THANK YOU!
Last edited by Helene Z.; 11-05-2009 at 11:31 AM..
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Old 11-05-2009, 08:46 AM
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Quote:
Originally Posted by kenny1413 View Post
Alrighty, a little about myself:
Turned 10k into 70k during the Lehman collapse (not trading lehman)
... then lost most of it thought the bottom was in. (it was in march)
turned to forex got burned 10k until i finally got some discipline starting now.

Ok i trade EUR/JPY pair 90% of the time. I like the low spreads and the volatility of it. I love to use fibonacci.

Ok so today i went long eur at 8:48 AM EST at 133.21 which was smack on the middle fibonacci line ( out of the 3 ). At 8:54 i got worried it was stuck ie an error/bug no executions were going through i got worried but 10 min later it came back on. I waited for the ISM manufacturing index and it was lower than expected, i knew it would go back up but it breached all my fibonacci lines so i exited it with a 6 pip profit. Thats the only trade i remember today.

Right now i have a position in long eur at 133.950 with a stop at 133.797 going to ride this one overnight. (Starting now i'll always have a small overnight position for fun =D wish me luck )
Hopefully i'll post regularly from now on and would like to share my experiences with my fellow traders. Cheers!

PS: i'd like to thank Helene for helping me yesterday with my stop order yesterday that didn't go through. You were swift and reassuring THANK YOU!
Kenny,

You are welcome!!! Is this your journal and plan? Let me know and I will make changes to the title of your thread unless you prefer it like that then we can leave it =) I look forward to your posts!
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Old 11-05-2009, 10:34 AM
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Sure thing
alright huge hangover from a night in the city woo
time is now 10:24 AM EST
been watching EUR/JPY from 9:30 AM EST. Put up a fibonacci from 133.963 to 135.05.

Saw some resistance at 134.8x , bought Yen at 134.768 with a tight stop at 134.85 ... soo got stopped out. But i was right it retraced all the way to the 134.5 which was the middle fibonacci line and that was when i put a buy eur (10:13 AM) at 134.51 popped to 134.61 waited .. at 10:13 i noticed the MACD converged so i put another buy and it popped to 134.65. Holding it out until 11 AM EST for the ISC chain store sales. Placed stop at 134.25.

And about the title sure you can add on (JnP) to the end of my title that would be swell =).

Best wishes - KC
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Old 11-05-2009, 10:44 AM
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feel good being right
Ok its 10:44 AM the EUR/JPY price is now 134.88 and so far my position is giving me a 35 pip gain i placed a stop at 134.75 slightly below the blue bollinger band thingie.
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Old 11-09-2009, 09:42 PM
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USD/CAD bull
Ok today i placed a trade to buy USD/CAD.
Position bought at: 1.05817
Stop: 1.04684
Limit: 1.09

Reasons:
Fibonacci 3rd line breached but recovered as shown in below Daily chart
USD overcrowded with bears, oversold
Oil is losing steam with little room for any upside left. Also in China is expected to increase oil prices by 8% at the pump and to planesChina Raises Fuel Prices; Sinopec, PetroChina Gain (Update1) - Bloomberg.com.

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Old 11-10-2009, 08:19 AM
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USD/CAD trade
Long USD/CAD
Position at 1.0581
stop 1.04684
Limit 1.09

Reasons:
Oil price holding steady below 82
China raising prices at the pump by 8% may spur lower consumption
USD/CAD reached 3rd fibonacci line and showed support as shown below
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Old 11-10-2009, 09:41 AM
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Short GBD/USD
I see continued weakness in the UK economy. Biggest bank bailout with Loyds, Barclays bad debt and Sovereign credit rating at risk of a downgrade. Only pro i see is HSBC but i see it's profit goin flat through 2010.

Short position placed at 1.672
stop at 1.676
Limit 1.65
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Old 11-10-2009, 11:22 AM
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Smile Profit
Getting burned on my USD/CAD trade but just closed half my short position in my GBD/USD trade for a juicy 50 pip profit =) now i'm riding it down to 1.65
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Old 11-10-2009, 12:26 PM
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Quote:
Originally Posted by kenny1413 View Post
Getting burned on my USD/CAD trade but just closed half my short position in my GBD/USD trade for a juicy 50 pip profit =) now i'm riding it down to 1.65
what is your plan for your usd.cad trade? good job on the 50 pip profit!
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Old 11-10-2009, 01:09 PM
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As stated in my previous post i have a stop at 1.4684
If oil holds steady below 81 i don't think my stop will be breached. Oil i think has topped out this year and if not it will not exceed 84. I'm looking for a 200 pip min move on the upside for the USD/CAD trade
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Old 11-10-2009, 01:25 PM
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Quote:
Originally Posted by kenny1413 View Post
As stated in my previous post i have a stop at 1.4684
If oil holds steady below 81 i don't think my stop will be breached. Oil i think has topped out this year and if not it will not exceed 84. I'm looking for a 200 pip min move on the upside for the USD/CAD trade
oh sorry bout that didn't see the post below. Great market correlation with usd/cad and oil. And I agree I think oil has topped out for the year as well.. if it does move, it will be minimal.
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Old 11-11-2009, 11:43 AM
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yikes
Well all my stops were breached ... but its ok i'm still in the green so far this week.

however i am happy that my prediction of the UK sentiment was right. UK continues to weaken.
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