Cory2679

I actually think I'm going to put my random posting on hold. No matter how stupid I know it is, I think I care too much what strangers on the internet might think (well, I think I'd call some of you more than "strangers," but you know what I mean). Anyways, for whatever stupid reasons, I get upset when I post a losing trade (more so than just taking the loss)...you saw evidence of this from several days ago when I posted a small loser and had to assure everyone I was profitable for the day by posting my trade journal. I guess I'm insecure. Whatever. But anyways, since I'm not posting consistently, I'm just going to stop posting trades all-together (until further notice, I guess). Here's one last post to go out on... The UJ short opportunity I mentioned earlier may be offering a head start...

Looks like short would have been the way to go...(ughh...I'm distracted this morning). I think I'm done posting for today.

Potential short on the UJ (off a fairly large swing)...

Potential long on the EU, with a similar situation on the GU...

Do any of you guys who sing Oanda's praises do any day-trading? If so, how do you deal with the double-digit spread-spikes around news, which often occur multiple times per day? I like Oanda, it's just that those spread-spikes make it difficult/inconvenient to trade the intraday swings. I'd be interested to hear your thoughts. -Cory

Thanks...I checked and it had plenty of days back. Thanks...it is indeed 6.5...hopefully NT 7 will solve the problem! -Cory

I just wanted to know if this is the same with everyone/anyone else...when I try to view daily, weekly, monthly, or yearly charts with NinjaTrader, it doesn't work. It's the same deal with Gain or Zen-Fire...and it's the same over multiple computers. Here's a 15 minute EUR/USD chart... Now, here's what happens when I switch to a daily EUR/USD chart... Because of this, I have to resort to using a minute chart to view daily data, like so... It's the same with futures... It's just a bit inconvenient and I thought I'd throw it out there and see if any solutions emerged. Thanks, Cory

You're more ambitious than I...with the two distinct tests of 1.3871 (as shown on my chart), if I were trying a buy of support, I would have been content buying at 1.3871...but that's just me. On another note, my trade from last night actually clipped me out at break-even right after shutting down...(I probably got to break-even a little prematurely, but I can sleep better knowing any open position is at break-even )

Stop moved to break-even and I'm shutting down for the night (sorry no chart).

Looking at potential EUR/USD long...

Another one of my random chart posts... Potential long on the EU...although I wouldn't be surprised at all if price makes new lows...

Hey Thales (EDIT: or anyone, really), I know this really might not be your thing (large cap stocks), but I thought I'd ask anyway... What's your view of Bank of America (BAC) longish-term? I know some people that are holding it from where they bought it around $5. The strong rally on high volume looked promising at first... I understand that maybe if they held it long enough (however long it takes), BAC will likely make new highs...although there are no guarantees. That's why I say "longish." Just curious. Don't worry...I wouldn't pass along your analysis as a buy/sell suggestion to the people...I'd be held responsible for your (my) recommendation...I'd rather just keep quiet. However, just for fun/curiosity sake, I was just curious what you thought. For the record...I don't own BAC...I don't even have a stock account. If it's not your area of expertise and you'd rather not comment, that's fine too. I just thought I'd ask. -Cory

Looks like your post caused a quick rally in the EUR/USD! lol

How dare they question you!

To me, that's still technically technical analysis...as it is not fundamental analysis.

Out for +25.9 ticks/net +1.1R (I actually took it on my sim account)... About the best I could have hoped for with today's action... 'til next time...

Stop moved again (over 1R would now be locked in).......

Stop moved................................

I'd have moved my stop to break-even by now...

I'm looking at something more like this, now...

Possible long on the EU... Perhaps the uptrend will resume and test/break last week's high? For the record...I'm not trading today...Columbus day...just observing...

fxThunder, You asked me via visitor message how to get that trade-log with MB Trading. Here's how... (Neither visitor messages nor PM's would let me do an attachment.) Note that with this particular window, only the current day's activity is displayed. You'll notice that my activity from earlier today is already gone after rollover. Also, this is MBT Desktop. I'm not sure if all of their platforms are the same with this. -Cory

I'm annoyed that this was the only chart I posted...I actually had two winning trades this morning prior to the chart I posted (and I'm up about 1.5R/48 ticks today). Today's trade-log is attached to this post. haha It was a similar situation with yesterday's post. I normally don't like having a position on in front of NFP, but this time I couldn't resist...the overarching uptrend, the recent test of support (yesterday's low), etc. ---------- Anyways, you guys might remember a discussion a little while ago in this thread that began like this... Well, I've basically gone back to the more "reasonable" daytrading timeframes. I'm using the 15 minute chart as my primary summary chart, but I also have a 1 minute, 5 minute, 240 minute, and 130 (13 ticks) range chart open. I use the 240 minute chart to switch to hourly, daily and weekly, and I use the range chart to view different range settings. I'm using all of this combined to do my best to try to identify the main intraday swing and identify good entry points. I've abandoned the pursuit of fast time frames. For a while I was focusing primarily on a 1 minute chart. Let me explain part of the allure...it's tempting because if you bracket 5 ticks of risk, get a 50 tick impulse move, you've made 10R in one trade!...and this actually happens!! The problem is that at that time frame, the market is often quite "noisy" and can whip you around a lot (me, anyway). If you pull up a 15 minute chart and then a 1 minute chart, you'll see what I mean...they actually look quite different...especially during times of lower volume. Another downfall is that risking something like 2% of your account on something like 5 ticks is a bit much...and it's quite a large position size. I had actually reduced my risk to 1% because of this. Kiwi also had a good post about some of the downfalls of trading timeframes that are potentially too fast (I'm just basically providing the "link" to save space...) You guys had good advice but I wouldn't listen. haha I just had to find out for myself the pitfalls. Note: Please realize that this is all in the context of the method primarily discussed throughout this thread...I understand there are traders/programs that take trades that last a split second, etc. ---------- I may start posting to this thread more often. Trading the "main intraday swing" is a fairly leisurely activity, much of the time. I need something to do. haha I may also get some new reading material...I haven't read every book that Thales has on his blog, yet. While I like action/activity/stimulation, what I like more/most of all is trading in a way that's profitable, sustainable, ideally low-stress, etc. I think that's all I've got. Sorry for such a large post...just had some things I wanted to share. Have a good weekend!! -Cory EDIT: I forgot...I wanted to include this quote from Reminiscences of a Stock Operator that I think is relevant to some of this discussion... "It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine--that is, they made no real money out of it. Men who can both be right and sit tight are uncommon."

Small loss... Due to the time of the day and the time of the week, I won't be opening any more new positions today.

Chart of the day... Potential EU short...