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Trades closed

Right then, some closes and changes

GBPUSD closed on stop @1.4620 for +241
USDCHF closed on stop @ 1.0720 for +257

audusd stop moved to 0.6826 (risk 100 pips)


Closed Results +3931 Pips since Oct 23rd 2008.
This Month +1357 Pips on closed trades

I think that closes 2008 :) a nice last two months of the year

Happy New Year for tomorrow and a prosperous one is wished for you

Stay Lucky

NEW TRADE

NEW TRADE SHORT USDJPY 90.25 100 PIP STOP

STOP MOVED GBPUSD TO 1.4620

Locking in some profit now on gbpusd, it doesnt seem to like the lower break as much as i had hoped, still, got to give it some room but this tightening might be a mistake.

usdjpy is a low risk trade with a possible 7 or 8 to 1 RR - then again might be crap :)

No other changes.

Enjoy your new years eve celebrations all :)

STOPS MOVE

stops moved as follows

usdchf stop moved to 1.0720
gbpusd stop moved to 1.4850
audusd stop remains at 0.6730

Closed Results +3433 Pips since Oct 23rd 2008.
This Month +859 Pips on closed trades

Note that i will not be marking to market on new years eve.

Anyone interested in Managed accounts under this method please contact me on here and leave your email address. I have three places available at the moment.

FYI

Cable short currently +190 and usdchf now +340 - leavin em to run, both have stops at break even.

Looking for cable to breach the lows for a good drop again soon but who knows? not me and i care less.

I'm off to enjoy the rest of Christmas now, catch you all soon. (hic!)

I had a question in the chat box that i thought deserved an answer in more depth - so here goes.

Tarrentino: Soul, very very interesting stuff in your blogs. I have spent the last three years messing about with automated system development but have yet to get the smooth equity curve we're all searching for. My systems worked well over 2-3 years but there was always one period which made the whole thing FUBAR. Got an article being published in e-Forex in Jan which you might find slightly interesting although there's nothing revolutionary. Are you an ex bank trader?


hi tarrentino - (your films suck by the way :) ) seriously tho, no, not a bank trader just a self taught trader but i have met with many bank traders and know the score.

Automated systems can work but i don't believe they will for retail traders over the long term - the mega players have them that win but they take very small wins that we can't get because of retail spreads - institutions have spreads as low as 0.1 pip and often zero - those people have automated systems.

There's also the calibre of programming tools at our disposal - Until we get some real artificial intelligence then i no longer believe that automated trading is a way to go - it worked for me for just over a year and then as you say FUBAR.

I dont think it's possible yet to programme a computer with the instinct that a trader has. I'm sure that in the future someone will prove me wrong, but as yet i've not seen it.

I actually now find trading so easy that I couldnt be bothered to automate it - trading is a numbers game - take enough of em and hold on to em when they win and you can't fail - all you need is time and money - both of which sadly most traders do not seem to possess. They want everything today in a hurry and don't have the funds to even trade with a long term conviction.

Trading is 'the long game' - that takes money and time. Thankfully I think that i've now found that out. I very rarely go below a daily chart anymore and that's where the real money is.

xmas eve

Stops moved to be on all positions, might close out before close of business today and call it quits for the year.

Catch ya later if i make changes, if not MERRY CHRISTMAS!





morning all, new week.

gbpusd kicked in, in the hole at the mo

NEW TRADE SHORT USDCHF @ 1.0997 sl 1.1235

NEW TRADE SHORT USDCAD @ 1.2155 sl 1.2255
Theres quite a few opportunities this morning but enough exposure at the mo.

Stay lucky

New Trade (order) Short GBPUSD at 1.4865 if seen - expiry xmas eve 6pm

new trade

NEW TRADE half position long audusd @0.6926 200 pip stop

that's it!

USDCHF closed at 1.0700 for +1070 pips - nice one.

it may well continue to bollock down now however i think there will be sufficient profit taking around here to hold it up.

My little punt didnt give it enough roon, c'est la vie' as they say so -33 on that one

I'm not sure i'm interested in any more trades this side of Christmas but keep checking, im scalping shorts on gbpusd this morning for fun but won't be making calls.

scores on the doors are:

Closed Results +3433 Pips since Oct 23rd 2008.

This Month +859 Pips on closed trades

stay lucky

punt

popping a punt on usdchf for the possible bounce also -

NEW TRADE long usdchf @ 1.0703 IF SEEN sl@ 1.0670 so only a 33 pip risk for a possible 600 pips ish trade if the bounce is significant. worth a punt if you ask me for a standard stake.

take profit level

Normally i dont do 'take profits' cos i believe that you let em run.

however this move is a bit off from the norm so i'm placing a take profit at 1.0700.

Reason ive chosen that level is from the september lows - there is almost bound to be a bounce back retrace there and then i'll be looking to get back in.

That will be yet another 1000+ pip trade though - see what i mean about waiting your time. its currently at 1.0800 at +960 pips and i dont normally visit the blog at this time of day, but i thought i'd post the take profit decided upon so no nobhead can say 'yes, its easy in hindsight' when in fact it's easy no matter what!

catch you in the morn

midweek

see, all good things come to those who wait!

usdchf now 600+ - 500 pip trailer is in place. lets see how far this will go.

of course chances are if you are an unseasoned trader you wouldnt have got this far - took your money early and spent the rest of this week kicking yourself.

another lesson then - patience is a virtue, especially in trading.

speak soon

new week

New week then - the usdchf order to short kicked in Friday afternoon and is now 50 up. stop is at 1.2030

Nothing else interesting - been doing some scalping on cable to get the account back up - did about 80 pips on Friday and -11 this morning but feel free to ignore those - no way i could call them live!

Nothing else looks any use long term so i'm hanging off for maybe till the new year - very busy this end - did i tell you i'm a radio DJ?

Anyway, catch you soon

GBPCAD failed - half position remember so -85 pips

Closed Results +2396 Pips since Oct 23rd 2008.

This Month -211 Pips on closed trades

this month is getting tedious - leaving the market for a few days.

have actually done a little short term trading this morning to get the account back up a bit but not listing them here cos not real time.

catch you soon when the market begins to move again

shitstorm then - cad closed for the +33 pips, cadchf closed -146 pips, eurchf still running but looking a bit sick.

never mind.

Closed Results +2481 Pips since Oct 23rd 2008.

This Month -148 Pips on closed trades

nothing much interesting at the mo on the charts, 4 hour looks tempting for cable and might take a punt later when i'm out. also like this one

NEW TRADE shoirt gbpcad half position @ 1.8581 sl 1.8750

might be a fast one just to redress the balance for the month - cant see anything else.

Sunday night 7th dec 2008

ok, update, sorry couldnt do this on Friday but was busy as hell.

eurchf stop was moved to 1.5425 which was hit and taken out for -100 pips.

usdcad went to over +500 at one point so the trailing stop kicked in (500 pip trailer) - stop is currently 1.2507 locking in an amazing 33 pips lol.

so far the month has done fuck all worth bothering with. some will be saying - "yes, but if you had taken say 200 pips on each trade then you would be well up now" and yes, i would - but i dont trade that way - all i want is one good trade a month that makes say 1000 pips and i'm made - to find that one trade takes some shit shovelling.

so far weve had lots of minuses for a couple of hunreds and a few wins which matches em up

Closed Results +2594 Pips since Oct 23rd 2008.

This Month -35 Pips on closed trades

I dont sit here all day watching the markets - I have other businesses that i'm in to and so only trade for prob an hour a day and then just leave em alone.

Now, usdcad could go for new highs and properley break the top - i'll be having a good look in the next day or so and might start moving the stop up closer -0 lets see how it unfolds. currently +250

I note that it's now 87p for a euro - thanks a bunch Gordon Brown you fuckwit. he thinks that a weak pound will spur the recovery from imports - oi thicko!! they don't have any money abroad either you thick scottish twat!

anyway,

NEW TRADE SHORT CADCHF@0.9574 SL 0.9720 -nice low risk trade - retrace from the downtrend on friday leaving it at a clearly identifiable resistance level to short.

another interesting one - even tho i got stopped out of this on Friday im back in

EURCHF short from the open on @ 1.5529 and a 100 pip stop
- some serious resistance around here and i still see a downtrend so still worth a punt.

Nothing else interesting - stay lucky!

cad stop to break even

Thurs 4 dec 08

No change to existing trades, looks like cad is starting to move but i dont expect fast moves on this, might be in a week or so

got a funny feeling about usdchf - take a look at the monthly chart, it's actually a bearish pair overall on a retrace - interested to see if she breaks down so in anticipation im putting in an order at 1.7770 for short with an expiry next weekend.

there are a few more trades i'd like to take, however the market just doesnt 'look right' to me at the moment - i cant really find anything apart from nzdusd short that looks low risk and I just dont like looking at nzdusd at the mo.

so that'll do for now.

if you're thinking about shorting the pound then remember - sell the rumour buy the fact - i have a feeling this will be the play today and if i was around i'd buy cable just before noon with a tight stop - they are all expoecting another big drop - personally i dont think it will happen so a possible news fact trade there.

then again what the fuck do i know - just follow the money and you can't go wrong!

close

eurjpy closed at +130 on stop

new trade made yesterday but losing so i guess it's alright to post

short eurchf @1.5325 stop at 1.5450

That's it - market still skittish, not that interested at present

Closed Results +2694 Pips since Oct 23rd 2008.

new trade - long usdcad 1.2474 200 pip stop

stop change on eurjpy to 119.40

-130 on gbpaud remember tho was a half position so -65 pips - also it's a 65% pair so risk was very low.

Eurjpy stop moved to 120.30 now a bet to nothing. Dont normally move em so fast but it might just go retrace tomorrow - can always get back in again around 121.50

Closed Results +2564 Pips since Oct 23rd 2008.

Keep an eye on eurchf. a retrace back to 1.5350 or higher tomorrow will see me consider an entry short.

gbpaud now looks good to short following the retrace back 400 pips - almost guaranteeed to drop back down and test those lows again. hmmm, will consider.

nothing yet tho, speak tomorrow

another

ok, one more chancer then - half position on this as it's risk is higher

gbpaud long at 2.3600 stop at 2.3470

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