Update for 20080130

Current positions

• USDCHF: (short 1 lot) profit at +578. Finally broke that damn 1.09 level and previous low. I'm going to trail this final lot's stop via previous support levels now, and I have moved it to 1.1000.

New positions

• None
• Would love to get into the uptrend movement of EURGBP but our rules kept us out due to the fishnetting on the daily.
  

Pairs to watch

• short GBPUSD?
  

Update for 20080129

Current positions

• USDCHF: (short 1 lot) profit at +458p. Took profit of one lot at +458 as stochs crossed up the 23.6 level.

New positions

• None
• Think I missed a EURCHF long while I've been lazy with the updates, oops! Looks like a good "pin bar" setup on the weekly maybe.
  

Pairs to watch

• EURGBP

Update for 20080127

Current positions

• USDCHF: (short 2 lots) profit at +450 after a slight gap down over the weekend. If today's bar ends up, it'll be another exit signal (crossing up of the 23.6) and I'll exit one lot.
  

New positions

• None

Pairs to watch

• It'll be interesting to see what GBPUSD does
• Long GBPJPY weekly?
  

Update for 20080123

Current positions

• USDCHF: (short 2 lots) profit at +490. Still up against these previous lows around 1.09. If we get to +600 I'm taking profit with one lot and moving my stop to 200p away with the final lot.
  

New positions

• Didn't take the signals today because of either looming downtrends on the daily or because Monday's bar was a US holiday with Tuesday bringing the largest fed rate cut in 23 years :)

Pairs to watch

• Probably nothing else this week at least.
  

Update for 20080122

Current positions

• USDCHF: (short 2 lots) profit at +465. Got close to my stop, but is now 209p away. We're nearing the 1.09 level again and a retest of the previous two lows. Part of me wants to close out another lot right now and bank that 465, but you never know what could happen. The stop is in place and I would still get 200+ pips if it hits it on 2 lots. Kind of depressing when I compare it to my losses so far, but I have to remember that I'm just getting going and hopefully I won't make the same mistakes and take losers with bad setups like I have been.

New positions

• Didn't take EURUSD long because weekly stochs are pointing down
• Didn't take AUDUSD long because weekly stochs are fishnetting

Pairs to watch

• USDCAD is interesting, because it has been in a strong daily uptrend recently, and might be about to break down the 76.4 level. Weekly stochs are messy and all pointing up and in overbought, so I probably won't be entering short if it does break the 76.4 on the daily. Unless of course weekly stochs straighten out first and the downtrend is still intact.
  
• EURJPY makes me uneasy about going long, even though we didn't go down past our previous low. Weekly stochs have peaked as of this writing, but the week isn't over yet and anything could still happen to them. We're right at a 61.8 retracement line on my chart, nobody screaming buy yet.
• GBPUSD could just keep on this downtrend, it's up against resistance now of a previous support. ST stochs have broken the wall on the weekly chart, and the 14 period is turning up. I might just wait until weekly stochs are above 23.6 to go long on the daily.
• EURGBP might give us a chance to go long, which would look like a pretty solid trade, as long as weekly stochs stayed in overbought.
• EURCHF has a huge down wave on the daily, but weekly stochs might be pulling back up, and might see a break of 23.6 up on the daily. Long position will need more analysis, but I'm not getting my hopes up.
  

Update for 20080121

Current positions

• USDCHF: (short 2 lots) profit at +306. Close to my SL that I set when I was way up. Starting to think that if I'm way up, I should take profit with at least one lot, I don't know...maybe not. I am still trying the 3 lot thing, so I'll have to see how that works out still.

New positions

• None

Pairs to watch

• Everything looking pretty stale
  

Update for 20080120

Current positions

• USDCHF: (short 2 lots) profit at +400. Took profit with 1 lot when the markets opened back up for +400p profit.
  
• GBPUSD: (long 3 lots) stopped out for -215p loss. Probably shouldn't have entered it to begin with, the weekly stochs weren't solid and the daily trend was very much down.

New positions

• None. Didn't take GBPCHF long because of trend conflicts
  

Pairs to watch

• Not much happening
  

Update for 20080117

Current positions

• USDCHF: (short 3 lots) profit stagnant at 398. Will close one lot tomorrow if stochs remain where they are.

New positions

• GBPUSD: long 3 lots @ 1.9694 with SL at 1.9479 (previous low+little extra).

Pairs to watch

• GBPCHF but looks like conflicting trends

Images

Update for 20080115

Current positions

• EURUSD: (long 2 lots) stopped out because of this huge bar today, I had trailed my stop to 1.4611, so my last two lots got stopped out there on my demo account. My plan was to just exit one lot at the next exit signal (which would have been today anyway), but obviously both got stopped out. So the question is, do I leave the stops at breakeven once I'm up a few hundred pips on a pair, or trail it? Should I trail every day? Should I trail only when it's up by 2x of what the trail is? i.e. trade is +200, move it to BE. Trade is +400, move to +200. Who knows. I'll keep an eye on it to see what would have happened to my third lot.
• USDCHF: (short 3 lots) profit at +407. Getting close to 23.6 again!

New positions

• None.

Pairs to watch

• Hey there USDCAD, want to come down anytime soon?
• Maybe EURUSD will give us another chance at the long side.
• GBPUSD creeping back up
• GBPCHF wut r u doin? I have no idea what to make of those charts. They make me wish I had shorted it though!
  

Update for 20080115

Current positions

• EURUSD: (long 2 lots) profit at +348. News news news, stochs headed towards 76.4, stay tuned.
• USDCHF: (short 3 lots) profit at +507. Looking better for me than the euro.
• EURJPY: (long 3 lots) stopped out for 250p loss! Boo-hoo. Stochs were headed straight down on the weekly when I entered this trade, so I won't be taking signals when they're like that in the future.

New positions

• None

Pairs to watch

• USDCAD short
• GBPUSD long
  

Update for 20080114

Preface

• This update is late :(
  

Current positions

• EURUSD: (long 2 lots) profit +385, 4 hours after the new candle. Saw a bounce off of/around the 1.49 level, will we make it to 1.5? Stochs starting to fall on this new candle.
• USDCHF: (short 3 lots) profit at +488, 4 hours after the new candle. Saw a bounce off of a previous low, and also the 1.09 level is around there.
• EURJPY: (long 3 lots) profit at -43, 4 hours after the new candle. Stochs hooking down strongly on this new bar on the daily chart.

New positions

• None

Pairs to watch

• USDCAD to go short
• Dear cable, you are boring.
  

Update for 20080113

Current positions

• EURUSD: (long 2 lots) profit at +322. Gapped up from Friday's close. Wondering if we'll break the high of the fourth. Trailed my stop to 200p away.
  
• USDCHF: (short 3 lots) profit at +411. Gapped down from Friday's close. Will we see a retracement to the Nov 23rd low? Trailed my stop to 200p away.
  

New positions

• EURJPY: long 3 lots @ 161.06. Yea I did it. Looks like we could be in a pennant formation, see screenshot. Friday's close brought the 14 stoch to 23.65 on my chart, so I treated that as a valid signal, even though the current level is below 23.6 and the 5 period stoch is perhaps rubber-banding back to the rope. I set my stop loss below the fib levels on the chart, which are about 250p away. Weekly stochs are pointing down, so I guess we might be in store for some drawdown to start this trade off as the weeklies flip back up (which they will hopefully do.)
  

Pairs to watch

• USDCAD to go short. Maybe.

Images

Update for 20080110

Current positions

• EURUSD: (long 2 lots) profit at +321. Whipsaws like yesterday are why I think the 3 lot money management system will be better than all-in and all-out. I think I'll trail my stop up to 1.4547 due to S/R in that area (3 fib levels, see the attached pic) and for the sake of protecting some more profits.
  
• USDCHF: (short 3 lots) profit at +371. Glad the stochs stayed under 23.6 the other day! The 14 was at 22.9 when I had to exit the EURUSD 1 lot. Trailing my stop to 1.1279.

New positions

• None

Pairs to watch

• EURJPY to go long. Weekly is up, but daily has been ranging. It's currently at the bottom of the range and made a higher low, and stochs are breaking up the 23.6 level, so I think it will be OK. Only thing that I'm wondering about is how high the 5 period stoch already is. Might mean that this is a short term move that has already been exhausted, or it might pull the rest of the stochs up like crazy. Either way, they might reach overbought really quickly and who knows how long they will stay there. Looking at the charts again, I think It will require a little more judgement on whether to enter or not. This might turn into a good learning experience :)

Images

Update for 20080109

Current positions

• EURUSD: (long 2 lots) profit at +185. I closed out one lot of the trade because the 14 period stochastic closed below the 76.4 level. The profit for that one lot was +188. My stops are at breakeven for the other two.
  
• USDCHF: (short 3 lots) profit at +238, probably exiting one lot tomorrow.

New positions

• None

Pairs to watch

• EURCHF
• USDJPY long won't be taken because the daily trend is down.
  

Update for 20080108

So I had typed up an update for the 8th, forgot to post it, hung out with my girlfriend, and came back to a rebooted computer this morning. Oh well, wasn't much anyway.

Update for 20080107

Current positions

• EURUSD: (long) profit at +197.
• USDCHF: (short) profit at +221.

New positions

• None

Pairs to watch

• EURCHF
  

Update for 20080106

Current positions:

• EURUSD: (long) profit at +265, few pips gap up. New stochastics levels for tonight are fishnetting in the overbought, but we'll have to see how the bar ends tomorrow evening.
• USDCHF: (short) profit at +327, few pips gap down. This pair is strongly inversly correlated to the euro right now, so same thing goes.

New positions:

• None

Pairs to watch:

• Not much trying to peek out right now. Euro crosses, maybe GU, UJ sometime soon.

Thoughts:

• I think I might start trying to trade the GBPJPY off of weekly charts instead of daily charts, as the dailies are really erratic. Kind of like the 4h on any of the pairs I trade daily.
  

Update for 20080104

Current positions:

• AUDUSD: (long) closed with -9p profit. Fishnetting on the daily, and I'm not going to wait to see what Sunday brings, because I'm pretty sure you can't undo that kind of fishnetting overnight. I closed out all of my position because I was breakeven on the trade. Had I been up 100p or so, I would have only closed out one lot and moved stops to breakeven.
• EURUSD: (long) profit sitting at +258.
• USDCHF: (short) profit sitting at +314.

New positions:

• Wait for Sunday!

Pairs to watch:

• I think everything in oversold is going to stay there for a while.
  

Update for 20080103

Current positions:

• AUDUSD: (long) profit at +74. Gave up some of yesterday's gains today, and we'll have to see if stochs are all still pointing up at the end of tomorrow. If they are I'll hold on, if they aren't, I'll probably exit my whole position in this pair if it starts to go south.
• EURUSD: (long) profit at +258. Stochs starting to consolidate, even though ST ones "broke the wall." I'm hanging on since they're all still pointing up and in overbought. Moved my SL to breakeven.
  
• USDCHF: (short) profit at +281. ST stochs have converged with the 14, LT stochs look to be headed that way as well. Everything is in oversold. Might have a nice rope formed tomorrow. Moved my stop to breakeven as well on this pair.

New positions:

• None.

Pairs to watch:

• Pound might turn around in its pairs
• EURCHF to go long
  
• EURJPY to go long
• USDJPY is anyone's guess
  

Update for 20080102

Current positions:

• USDCAD: closed with +187p profit. Call me a chicken, but weekly stochs were fishnetting (short term stochs pointing down, but I don't know if that's a good thing or not yet), we had seen a bounce off of a 38.2 fib level from the latest uptrend (brown in pic), and daily stochs crossed up 23.6 level. I wish I had entered with 3 lots instead of 1. I would have taken profit with one lot and moved stop to breakeven on the other two. It looks like this might be the end of the current mini-uptrend, because of a bounce off of a fib level in the pic (green level). Finally, excuse the messy charts and the late entry (this was one of my first, check the archives).
• AUDUSD: (long) profit sitting at +114. This is a trade I entered with 2 lots on, so I will be able to exit one at the first exit sign and then move stops to breakeven for the second. Testing breaking of some highs in early December. Short term stochs are fishnetting in themselves, but everything is still pointed up, so I'm going to stay long.
• EURUSD: (long) profit sitting at +237. Chart is almost a mirror image of the aussie since December. ST stochs are getting a little mixed up in the rope, but I'm hanging on at least until the end of the next bar, and even then, I'll be banking one lot and moving the stop for the other two to breakeven.
• USDCHF: (short) profit sitting at +209. This chart is seriously an inverse of the euro chart.

New positions:

• None.

Pairs to watch:

• Nothing really...the shorts I didn't take on GBPCHF and USDJPY looking pretty healthy though. Oh well! Maybe some kind of trend reversal going on there.

Images: