Cory2679

If the UJ can make it to PT3 before the end of the day, I will nominate this for trade-of-the-month!...excellent R/R opportunity off a larger degree 2b, taken off a smaller degree 123... I wasn't planning to post until next week, but I wanted to post this...and before it reached PT3...

For me, forex charts are generally too choppy on the shorter timeframes. I want to trade good swings.

The long didn't get very far, but a legitimate short presented itself shortly after the breakout and jobless claims report. That's it for me as far as posting this week. I'll be back posting full-time/real-time next week. I just installed NT7! However, the way I use NT (merely for simple charts), I probably won't even notice most of the changes/improvements.

Keeping my eye on some consolidation on the EUR/USD...NOTE: Jobless claims in about 30 minutes...this will likely be my last post for the week...I've been working a lot of hours at my part-time job this week and it has cut deeply into my trading hours...I've traded virtually no Tokyo's this week and have cut into my NY several days...I've changed my schedule starting next week so that my job will not interfere with my trading at all (only working Friday evenings and weekends)! Trading is my current chosen vocation/career path...that's where my time needs to be spent. NOTE: By the way...I thought I'd share that I have an unofficial goal in the back of my head to go live with a $1,000 FXCM Micro real account at the beginning of the year (so I guess Sunday evening, Jan. 2). So, that'd be just 3 more weeks of demo trading after this one.

I just found out that as of recently, FXCM Micro no longer offers demo accounts...you have to open a "standard" demo account. The difference is that the balance begins with $50k rather than $5k (and no micro-lots...only mini). Sly dogs. FXCM Micro sure isn't what it used to be! Geez. No more contingent OCO orders, doubled/tripled spreads, and now no demo account. And as far as the contingent OCO orders (orders with a stop-loss and profit-target attached)...they claim it's because of regulations, but Oanda still offers them! What the heck?! I'm stickin' with 'em, though. I vowed I wouldn't go broker-hopping in my log-post a month ago. It's just frustrating. ......all right, back to work!

Corrective? It's not a perfect fit, but price appears to be channeling...also, price is in a longer term down-trend as seen by the 4H chart (although it did break through the trendline, but with no follow-through.) Anything can happen, but I'm leaning toward new lows (that probably means you should buy! buy! buy!...haha)

It's funny...my SL was placed one tick above the red line level, which was exactly +1 tick (I'd been getting to BE+1tick). Anyways...it looks like it put in a higher low, and now has broken to a higher high. I didn't take a long on the EU, though...I took a long on the GU because it looked stronger...R/R wasn't that great, but I felt confident enough (sorry it wasn't posted...I know, I know...I'm a great hindsight trader...haha). You wouldn't happen to be a spammer trying to rack up posts, now would you?

Currently short the EU...stop at slightly better than BE...I'd be (pleasantly) surprised if this goes to profit the way it seems to have hit a brick wall...this may mark a potential higher low in a reversal...we'll see...

UPDATE: Trade cancelled...

Potential UJ short...

Potential short on the EJ... UPDATE: Geez...not the start I was hoping for...stop moved down a little... UPDATE 2: Stop moved down, again. UPDATE 3: Stop @ BE+1 tick... FINAL UPDATE: Taken out @BE (+1 tick)...I'm frustrated because the ask never actually quoted as high as my SL. I'm confused about why I got taken out. go figure NOTE: From now on, if I say merely "BE," assume that means break-even +1 tick.

FINAL UPDATE: Well, it went to PT2...but not without taking me out first! :doh:

UPDATE 5: I'm heading to bed...the trade's still open...I've got my orders in...worst case is a very small profit...cya in the morning!

UPDATE 3: Stop @ BE+1 tick...because of the potential support level I drew... UPDATE 4: Stop on half has been moved down (and I cleaned up the chart a little).

Looking at a potential short on the EU... UPDATE 1: Entry filled and stop moved down (plus BE-point and PT's added)... UPDATE 2: Stop moved down, again.

UPDATE 6: Stop moved again...pretty tight...it's almost time to pull it... FINAL UPDATE: Trade pulled for a profit.

UPDATE 5: Stop moved up again. I can't believe that this trade has been on for over 4 hours! haha Somebody needs to throw some coal on the fire! If I haven't been taken out by then, I'm going to pull it at 3:55PM Eastern Time (looking at last week, it looks like FXCM Micro cuts their data at about 4PM on Fridays)...

UPDATE 4: Stop moved up.

Currently long the EJ...I'm honestly a little nervous about this one...:o UPDATE: Stop moved up. UPDATE 2: Stop moved up, again. UPDATE 3: Stop @ BE+1 tick ::sigh of relief::

Potential long on the GU... UPDATE: Order cancelled...and awaiting NFP...

Potential short on the UJ... UPDATE: Stop moved to BE+1 tick...price went in my favor, bounced at the 61.8% fib retracement, kissed my entry, and backed off...I'm not going to allow it another try upward...if it's going to profit with me, it's gotta go now... FINAL UPDATE: Taken out @ BE (+1 tick)...

I doubt there exists a real solution to this problem...it's probably just a matter of managing the problem as best as possible. Probably just a matter of SIM trading (carefully, as to not create an addiction/crutch), then live trading small size and gradually increasing size (or just growing the account via profits). It's obviously not smooth sailing toward success...it's a journey of 3 steps forward, 2 steps back, 3 steps forward, 2 steps back, etc.

Was short the GU, but before I could post I got to BE+1 tick and was taken out...I wasn't going to allow it much breathing room seeing as I was essentially fading a very recent impulsive upmove...

Potential for another long on the UJ... UPDATE: Entry filled and stop now moved to BE+1 tick. UPDATE 2: PT1 filled and stop moved up. UPDATE 3: Stop moved up. FINAL UPDATE: Second half stopped for a small profit.

Currently long the UJ with a measured-move PT... UPDATE: Now that my open equity has surpassed 1R, I am moving my stop to BE+1 tick (1 tick to counter potential slippage). UPDATE 2: Price almost reached my profit target, backed off, and is now giving it another go...I've moved my stop a tick below the low between the two attempts at my PT. FINAL UPDATE: PT filled.