Thread: Luxuriant

Thought I would start a trading journal. Anyone is welcome to post, and comment at anytime. Always interested in discussing trading. Thought I would post all my trades from entry, and exit. If you feel I have made a bad entry, or trade. Your comments welcome.

I have been selling my stock holdings over the last 5 days. Target, Boeing, Apple, GLD, RMZ. RMZ = MSCI US REIT. I should have recognized the double top in US markets and acted sooner. But when you have been holding some things from the bottom (Feb 2009). They become like a lover you can't let go. You hope for a turn around, or don't want to believe what your seeing. These are great companies. But the atmosphere is getting worse every day. Like a nice house in a bad neighborhood. It still goes down in value. Even if we got one more move higher in the S&P 500 close to 1500. Would probably make the drop more swift. Do you think I am bearish? I will look for a new bottom. Although I believe it will be awhile. Maybe a quick entry in the US markets after Q3 is announced, then another exit. Will post charts later showing my bearish view. After leaving the market 100% Moved 50% to my FXCM account. 50% to a stable value fund. We are talking T-Bills. Its either that, or cash. LOL

Made one trade today. No skill just a lucky entry. After a EUR bounce. Felt EUR/GBP was near the top of the trend line. Long wicks on 30min. Giving a nice signal to go short. Looked at it as a quick scalp. But holding for now.

Banked 400 pips week ending 5/18/2012
Banked 94 PIPS 5/212012 close
Currently floating 434.2 pip
Open positions
EUR/USD short from 1.27129 Bad entry after TP last week. Better entry would have been above 1.2800
Eur/GBP short from 0.80774
GBP/JPY short from 128.365 Should have closed this out last week. Still hold the view USD/JPY ready to go above 85.50 Will watch the GBP/JPY may have to close this out.
USD/RUB Long from 31.015 Effected by oil. Oil is going alot lower. No news about it. But Russia is in economic trouble.

Peace

Interesting chart. Always builds a base before a move higher. If you took a light crude oil chart, and turned it upside down. Then laid it on top of this chart it would almost line up perfectly. I look for a set back at 32.00.1/2 TP last week then added new entries. You won't believe me. Oil at $75.00 would not be a surprise to me. What is it now $91.00 ?

BOJ announced no change in policy tonight. No new easing. No change in rates. Will stay short. Failure to meet their announced target continues. Asia markets all in the red tonight. US futures looking ugly too.

While the markets are selling off. I was reading an interesting article by Abigail F. Doolittle (Peak Theories) Her frightful theory is that the UST10Y is going sub 1%. She backs this up with charts showing the cross of death. (200DMA takes out the 50 DMA) This happened before the 2009 crash. This just happened again in 2011. She feels this signals a flight to safety in the months ahead. She also shows a triangle that has formed on the chart with a trust down below 1%. Though she does admit it could move up from the triangle. If down, it confirms at 1.72%.



Edit: Moved by limit lower on my EUR/USD short. Will weather wave 4. Then add to shorts

Germany sells 2 year bonds at .07% LOL Talk about extreme flight to safety. There was maximum demand. LOL Hey if you believe your currency is going lower, and your market is falling. Where else do you go with your Euros. Just wondering how long the ECB can stand on the side lines. All that free money to European banks could turn out badly for the ECB. Surely some plan is in the talking stage. They seem to throw the word "growth" around. Growth, does that mean a rate cut, tax cut, some kind of stimulus?

Change of plans. Closed my Euro short. Banked 99pips. It was a bad entry. Saw a need to reduce my risk with so many open trades. Goal for the week, wait for a better short entry that you can hold long term. Possible short squeeze could be coming, oversold. Still holding other positions. I have done this before only to watch it fall lower. LOL But its not about profit. Reducing risk to trade again. Still looking for 1.2460

Originally Posted by Luxuriant

Change of plans. Closed my Euro short. Banked 99pips. It was a bad entry. Saw a need to reduce my risk with so many open trades. Goal for the week, wait for a better short entry that you can hold long term. Possible short squeeze could be coming, oversold. Still holding other positions. I have done this before only to watch it fall lower. LOL But its not about profit. Reducing risk to trade again. Still looking for 1.2460

Congratulations on your trading wins. EU summit could produce some type of surprise Euro rally that could indicate a better short.

Thank you. Sir! I must say I owe any success to this site, and those that have had quality inputs here. Like yourself of course.

Great to see your journal Luxuriant, I have enjoyed readingit, looking forward to more and appreciate your sharing it with use.
Thanks
Slim

Originally Posted by Slim

Great to see your journal Luxuriant, I have enjoyed readingit, looking forward to more and appreciate your sharing it with use.
Thanks
Slim

Thank you Slim. Seeing yours made me decide to do this too. Post in here anytime Bro.

Well I failed at my weekly goal! I failed because I was trying to make it happen. Rather than wait for it to happen. I needed to let it find me, instead of me trying to find it. After drawing FIB lines from the last swing high to the low, on the D1 chart. The plan was to at least wait for 1.2650 to 1.27ish to enter short on EUR/USD. False break lower caused me to enter two small shorts. Valuable lesson learned again, and again. LOL

Hey my target is 1.2460. So done playing games.Hold these shorts. Add a nice short on any rallies. Add a large short on any big rallies. If I see that the US markets are going to sell off may just add another small short. Now have 1% of my account at risk with 4 open trades. But 2 have had strong moves in my favor, and see no reason at this time to close them out.


Just a note. I don't talk much about stops. I use mental stops. I am sitting here reading, or working on something else, possibly watching bloomberg, CNBC. So If its not going my way, I can close it out. Do I set a stop? ALWAYS! On this trade I set it at 1.2850. Would I let it go that far, probably not. But if I lose power, Internet. Then lose my 2nd back up, mobile service. I am covered. You have to look at it like business. What is the worst thing that could happen to your business. If I am going to leave I set a more reasonable stop. Like 1.2700 This is not text book, but I do consider the pain I am willing to take before the entry. Look at the risk before the gain.

Well looks like I am going to take a beating today, and tomorrow on my current trades. Looks like a good correction in the US markets, and some of my shorts. I could hedge, and go long AUD/USD, or short USD/CAD. Not worth it. Just stay with the plan.

USD Rocket about to introduce its self to strong resistance at 1.32

Closed out my EUR/USD shorts for a -15 pip loss. It seems a correction is coming, and with bad entry points time to get out. We will play another day in the EUR arena. Holding all other open positions, but expecting my floating pips to decrease at the end of this trading week.

EDIT: Closed my EUR/GBP short 53 pip gain. Placed a short entry order at 0.8090 stop at 08150
Leaves two open trades USD/RUB long which should pull back. GBP/JPY short