Thread: Journal

I was in Huntsville Texas on a business trip several years ago. I was sitting in my motel room with time to kill so I got in my rental car and went sight seeing. I happened upon a state park with a small lake in it. Allways prepared, I whipped out my trusty collapsable fishing rod and some cheap lures I'd bought. On my first cast.. Whack! Something hit my lure HARD. I reeled her in and had a nice big largemouth bass. It was sooo cool. I was very excited and looked around but no-one else was there. No-one had witnessed what I did. I had no-one to share it with. (Other fisherman stop what they're doing and watch as one of their fellow enthusiasts reels in the big one) So it is, I feel with trading. Making a trade, good or bad, can really only be understood by another trader. So I thought I'd post a few trades as I have time, just so someone else can see. I hope to catch the big one.

By the way, have you ever noticed that your bad trades race against you with lightening speed and your good ones seem to creep forward with the speed of a snail?

Here I made a classic rookie mistake and did not follow my own rules. I just "knew" what the market was going to do. My gut instinct cost me 20 something pips.

Here I made a small come back by following my rules and made a small scalp.

Here I did another scalp with a tight stop. I didn't have a definitive limit other than my goal was to dig myself out of my hole from the other bad trade.

I saw a lot of good signals in the U.S. session today in several pairs. Unfortunately I have a day job and can only go back and see where they have been. I closed out the day with a 3 pip profit that would have been a 24 pip gain if I hadn't done something stupid.

Originally Posted by Okletsee

I saw a lot of good signals in the U.S. session today in several pairs. Unfortunately I have a day job and can only go back and see where they have been. I closed out the day with a 3 pip profit that would have been a 24 pip gain if I hadn't done something stupid.

Hi Okletsee,

Great to see you started a Journal! When you refer to your "signals", what exactly are you looking for (If you don't mind me asking)? I would love to see your ideas and discuss potential trading opportunities. Let me know!

Rob

(I am currently short USD/JPY, the SSI for it is almost 10!)

Scooped up 26 pips out of two pairs today so I'm going to leave it alone unless I get another strong, clear signal (and I'm there to see it). I could have just doubled my order on one pair due to the correlation factor, but sometimes the correlation is there but not exact, so I'm looking closer to see if it matters. Just so you will know, this is a demo account.

Wham bam. Emotions in trading? If I lose a trade I sulk for the rest of the day. I know that's not what they are talking about.

Well, its a system that I developed and have tested and I am very excited about it. Mainly because I have been trying for a very long time (10 years) of trial and error, beginning with the first time I opened a chart and plotted a moving average on it. I have no formal background in trading or education. I don't plan on getting rich over it, but it seems to be my own thing that I came up with myself. I have never seen it anywhere else. So I am very protective of it. Its been working for three solid months now on demo accounts. I want to apologize for not being more open. I will tell you this one thing...I wait for a peak or a dip depending on which direction I am going in. Aren't we all!? And I am a big believer in the 20sma. The last two charts I posted I came in a little later than the signal but it was because I wasn't watching the charts at the time. I don't show the signals on the charts. I was a little nervous about getting in but I am glad I did. I WILL share another trading idea that I have been playing with and am somewhat impressed. I'm sure other's have seen this also:

Plot a 20 sma on a chart, any time frame. Then add a standard MACD.

A buy signal is generated when the price moves above the 20 SMA, AND there has been a positive cross-over of the MACD signal line ABOVE THE ZERO LINE.
A sell signal is generated when the price moves below the 20 sma, AND there has been a negative cross-over of the MACD signal line BELOW THE ZERO LINE.

If you want to play risky, take a position any time there is a positive MACD cross over and the price movement is above the 20 sma. Sell when a negative cross over occurrs and the price moves below the 20 sma. Forget about the zero line.

That's not rocket science I guess but it shows promising, and exciting too if you use shorter fast paced time periods.

Plot a 20 sma on a chart, any time frame. Then add a standard MACD.

A buy signal is generated when the price moves above the 20 SMA, AND there has been a positive cross-over of the MACD signal line ABOVE THE ZERO LINE.
A sell signal is generated when the price moves below the 20 sma, AND there has been a negative cross-over of the MACD signal line BELOW THE ZERO LINE.

If you want to play risky, take a position any time there is a positive MACD cross over and the price movement is above the 20 sma. Sell when a negative cross over occurrs and the price moves below the 20 sma. Forget about the zero line.

That's not rocket science I guess but it shows promising, and exciting too if you use shorter fast paced time periods.__________________
I should have added that this works best in a time frame with easy rolling ocillation, you don't want too much volitility. If its choppy with crazy wicks I don't go there.

Originally Posted by Okletsee

Plot a 20 sma on a chart, any time frame. Then add a standard MACD.

A buy signal is generated when the price moves above the 20 SMA, AND there has been a positive cross-over of the MACD signal line ABOVE THE ZERO LINE.
A sell signal is generated when the price moves below the 20 sma, AND there has been a negative cross-over of the MACD signal line BELOW THE ZERO LINE.

If you want to play risky, take a position any time there is a positive MACD cross over and the price movement is above the 20 sma. Sell when a negative cross over occurrs and the price moves below the 20 sma. Forget about the zero line.

That's not rocket science I guess but it shows promising, and exciting too if you use shorter fast paced time periods.__________________
I should have added that this works best in a time frame with easy rolling ocillation, you don't want too much volitility. If its choppy with crazy wicks I don't go there.

This is NOT my main trading system. Its just one I've looked at.

Turned on a chart and took a scalp. I've promised myself I will show my losers too so I am trying to be real careful.

This week's trades. If I keep this up I'll be a millionaire. Haha

Originally Posted by Okletsee

This week's trades. If I keep this up I'll be a millionaire. Haha

Looks like a good week of trading to me! It's good to hear that you have a strategy you are confident in. I don't blame you for not wanting to disclose it!

Have a great weekend!

Rob

I would have been right on this, and I didn't think the stop was too tight, but look at the wick where the stop was. Looks like a stop hunt for 113.00?