Failed EUR Trade

Looking to get long (reversal) in a down trending day proven to be a tough and risky. Smart very, smart move from me he-he-he quickly down -14 pips, a small payment for one good lesson.

EURJPY Scalp

Trade long EURJPY, picked a good entry then let the price action work for me. I got leery as the forth candle is stalling and coming down fast. I'm out for +10 Pips.

More EUR

Scalp the EUR today for a modest gain.

Back to EUR

Got a good short entry a while back but having problem managing the trade. Covered twice for a +32 gain, EUR continued down after my exit its ok, I'm a happy camper got a nice chunk. Have nice weekend.

Scalping GJ

Slowly implementing what I'm presently learning. I'm getting there just taking it one day at a time.

Learning a new System

I have been learning a new system for almost two weeks now. I got interested because the method is based on pure price action which I really like and it is also trading a total of six pairs a nice addition to my EUR arsenal. The system is simple but I'm still absorbing, I think I'm making good progress, I've also lowered my usual lots not that its large its still a mini btw. Today, I made one trade on EURUSD long @ 1.3975 and got out @ 1.3993 for +18 pips gain.

Back to Trading

Taking the time off is always the best move to clear the mind. Below is my first trade of the month.

No Trading for Now

I made a blatant mistake last week I thought I have no open position cus' my wife and I is heading for a weekend trip this morning (Tuesday) I've found out I have an opened position which went against me and took a large chunk -175 Pips. Argh!!! I'm not happy and got out immediately. I will not be trading for a while and just rest I will be back when I'm ready. See you soon.

Admission

Yesterday, after my first successful trade I usually get myself ready for office but this time I stayed made another successful trade and become greedy big mistake! To make the story short I loss all my gains and dip below my capital. You know when thing happen its hard to stop trading you want to get back your losses.
Thankfully, I was able to control myself and stopped immediately. Still feeling disappointed I tried to shrug everything off by doing something else and later on played ping-pong with my friend Raymond. I tried my best to clear my mind the whole day and sleep early too.

Earlier I was able to get back my capital and a little bit of profit too. In my mind there is this feeling to continue trading but I forced myself to stop. I will enjoy the day and be glad to be back in black. I thank God for giving me the appropriate skills to manage myself and my trades today. Net gain is +104.5 Pips.

EUR Reversal

The EUR was weak overnight then found its support early morning at around 1.2830-1.2835 I waited for candle confirmation and bought long @ 1.2840 and took profit at the big pop bar @ 1.2868 for a gain of +56.2 Pips, see chart.

Always Stick to the Plan!

As I'm getting ready to trade, I've wrote my plan on my notebook based on what I see. I jot down -- Long. Trend is up. Set my alarm (green line) and tried to sleep bad move because price came down one pip above my point usually if I'm at my screen I could analyze it further by looking at the 5Min action and then decide whether its good enough to enter. As a result, I've missed the low risk entry point and EUR reverse up from there. Now, instead of waiting for a pullback and go long I've looked for counter trend trades another bad move. Tsk! Tsk! Tsk!

The chart below will clearly show you everything. I'm glad I was able to get back half of my early loss (ended the morning with -17 Pips) in hindsight if I did stick to the plan it would have been much better.

Ranging EUR

Here's a screen shot of my long trade today. EUR is having hard time breaking 1.2705 level while the US market is about to open which makes the EUR quite volatile and can sway either way that would be a high risk situation so I decided to get out. Managed to grab +14 Pips (comm. not included).

Second Trade

Bought two mini units of EURUSD @ 1.2713 as it bounced off from its 15Min support. Took profit and filled @ 1.2736 as momentum continue downwards. A gain of +45.80 Pips. I'm done for the day.

First Trade of the Month

Long 2 mini units of EURUSD @ 1.2680 on 15Min chart got out before the close of the next bar @ 1.2696 for a gain of +32.8 Pips

Missed Ops

I've missed two good low risk high probability trades. The first one happened at around 5:15AM and the second was at 6:30AM PST. No regrets will catch it next time.