Don4

news out at 4:30 eastern, just have to wait and see what happens! 4:30am GBP Business Investment q/q (p) 4:30am GBP Total Car Production 3m/3m

Im short looking for tp at 1.9822.

Nice!!! Thanks Walter.

Thanks Walter, Ill definitely check it out!!

Still trying to figure out how to post pictures:o http://www.traderslaboratory.com/forums/attachment.php?attachmentid=1594&stc=1&d=1179956556

Just some thoughts, today makes the 3rd time trend was broken. with the pin bar forming im thinking a retest of the trend. If support holds and todays high is broken then a continuation upward should occur.These are my views, anyone else? http://www.traderslaboratory.com/forums/attachment.php?attachmentid=1592&stc=1&d=1179951653 GBP 4hour.zip

Pin bar forming on 4hr charts.

Hey torero, nice call . U nailed this one, as for me i misssed the bus i was waiting for a pull back to at least 1.9700 then i would have taken the trade. (on my live account). since im still forward testing my longer term system i did buy yesterday on demo and still looking for a tp of 1.9988. But congradulation on the trade, and nice to see u back trading the pound!!!

Well never mind tp hit 5 min before news.

I have taken a short position looking for tp at 1.9716. should find out in about 9 min if it will make it or not BOE meeting at 4:30 eastern

I have taken a short position looking for TP at 1.9716 if price makes its way down back to support at 50% fibs and holds ill take a longer term trade with a TP of 1.9988. But ill have to wait and see. (Think it will be a good R/R trade)

Short today stoped out -2%. This is = to my biggest losing streak in a row 5 losing trades since starting journal. Not the biggest drawdown yet but as far as trades taken, consecutive losses. But still confedient in my system and my plan.

A little CCR, Bob Seger and most of the hair bands from the 80's. Guess im stuck in the past .

No trades today!!

I found these steps while surfing the web it did not list a author,so i have no idea who it was,but i thought it would fit perfectly here since it fits the same steps that i have taken to where i am now.Here is the link REALTRADER : 38 Steps To Becoming A Successful Forex Trader 38 Steps To Becoming A Successful Forex Trader 1. We accumulate trading information - buying books, going to seminars and researching. 2. We begin to trade with our 'new' knowledge. 3. We consistently 'donate' and then realize we may need more knowledge or information. 4. We accumulate more information. 5. We switch the currencies and time frames we are currently following. 6. We go back into the market and trade with our 'updated' knowledge. 7. We get 'beat up' again and begin to lose some of our confidence. Fear starts setting in. 8. We start to listen to 'outside news' & other traders. 9. We go back into the market and continue to donate. 10. We switch currencies and time frames again. 11. We search for more trading information. 12. We go back into the market and continue to donate. 13. We get 'overconfident' & market humbles us. 14. We start to understand that trading success is going to take more time and more knowledge then we anticipated. -------------------------------------------------- Many Traders Will Give Up At This Point As They Realize That Forex Is Not As Easy As It Looked And That Hard Work and Study Will Be Required But Some Do Not Give Up ... -------------------------------------------------- 15. We get serious and start concentrating on learning a real methodology. 16. We trade our methodology with some success, but realize that something is missing. 17. We begin to understand the need for having rules to apply our methodology. 18. We take a sabbatical from trading to develop and research our trading rules. 19. We start trading again, this time with rules and find some success, but overall we still hesitate when it comes time to execute. 20. We add, subtract and modify rules as we see a need to be more proficient with our rules. 21. We go back into the market and continue to donate. 22. We start to take responsibility for our trading results as we understand that our success is in us, not the trade methodology. 23. We continue to trade and become more proficient with our methodology and our rules. 24. As we trade we still have a tendency to violate our rules and our results are erratic. 25. We know we are close. 26. We go back and research our rules. 27. We build the confidence in our rules and go back into the market and trade. 28. Our trading results are getting better, but we are still hesitating in executing our rules. 29. We now see the importance of following our rules as we see the results of our trades when we don't follow them. 30. We begin to see that our lack of success is within us (a lack of discipline in following the rules because of some kind of fear) and we begin to work on knowing ourselves better. 31. We continue to trade and the market teaches us more and more about ourselves. 32. We master our methodology and trading rules. 33. We begin to consistently make money. 34. We get a little overconfident and the market humbles us. 35. We continue to learn our lessons. 36. We stop thinking and allow our rules to trade for us (trading becomes boring, but successful) and our trading account continues to grow as we increase our position size. 37. We are making more money then we ever dreamed to be possible. 38. We go on with our lives and accomplish many of the goals we had always dreamed of. Well monday will make 2 months for this journal and i am very pleased so far there have been 2 times that i have deviated from my plan, one was a trade taken from a different system,with a very high R/R(which i will take again if the opertunity happens again) and the other was last week when i woke up late and thought i could jump in and take the trade anyway.(I only lost a little over 1%,but emotionally it was a desaster). Right now i feel as though im on step 36 and have know idea how long it will be before the last 2 steps are completed(could be a seperate journey within itsself) it doesnt matter though wheither its 6months,2years,10years. As long as i am alive, I will persue this,until one day i will hold my hands in victory.

Pyenner,yea i know what u mean these are trying times. The markets has people scratching there head and second guessing there systems and theirselves. Thats why i quit trying to predict where the market is heading(try and save myself a few gray hairs:D) but anyway here are my #'s. Total Pips- +186 Equity- +16.7% Win%- 41.67%

Stoped out today for -2%(auctually a little more was slipped 3 pips when i entered) be back later for the totals.

short looking for tp at 1.9693

Was long looking for tp of 1.9817 stoped out for -2%

No trades today!

Thanks PYenner, your right tommorrow is a new day!

Well im pretty upset with myself right now, all this time day in day out sticking with my rules my plan working hard to reach my goals. And this morning it happened, I completley slept through this morning session and missed my signal, instead of turning the computer off and calling it a day,I had to jump in try to get in late. What a mistake, i was completly out of my element, and felt as though i had just started all over again. I could never get my R/R right ,jumping in and out of trades trying to prove something i guess for oversleeping and not sticking to my rules. Although i just lost alittle over 1% its killing me that i made such a dumb mistake. If i would have lost the 2% by sticking to my plan i would have never thought any thing else about it. So, lesson learned this morning, either get a louder alarm clock:D or if something happens and i cant get in when i recieve my signal,STAY OUT. p.s fridays trade was stoped out this morning(but to me it was still a good trade)

"Make money is not a trading plan. A trading plan is a blueprint for trading success; it spells out what you see your edge as being; if you don’t have an edge, you don’t have a plan, and likely you’ll wind up a statistic (part of the 95% of new traders that lose and quit)"---Jimmy Young

Well i had no new trades today,but fridays long is still active.

Pyenner, first of all i would like to thank you for your input and views. But my system has never taken fundimentals or technicals into consideration,dont get me wrong once a trade is placed sometimes i will follow along through my own technical anylasis but it doesnt affect my trades in any way.(sometimes my way of trading can be just as unpredictable as the markets) As i stated in the begining this is only a experiment and that if im wrong, i would much rather for it to happen now than later. In the past i have taken many systems and counted them out before they even had a chance, but for this one the market will have to prove me wrong. And if it does i have something waiting for that to. (Im sorry if that sounds a bit cocky, but my faith in god and my belief in myself i know anything is possible)