Flashboy's Methods - Past Trades

Discussion in 'Journals' started by Flashboy, Aug 22, 2003.

  1. Forgot to mention..

    If you look at my journal.. I've posted charts in there with the trades marked.. you'll see that I've taken trades outside of these rules...
  2. gg12


    Hi Flash,

    thanks. You are very responsive.

    Can we fokus on you plan with Currencies? What is your favorite currency-pair?

    I understand that you are using 10 minute chart and watching it. What are your "observing" hours each day?

    You are saying that you look for the price pullback to the 20 EMA and many times you recognized that the price will ride the moving average. Then when the price takes off you trade with the trend.

    Can you post a sample chart to make your plan clear and provides more information about target and exit?
  3. gg,

    Here's a chart from 8/4/03..

    This chart is of the Euro/USD.. which is my favorite currency to trade.. it seems to trend the best with the most liquidity..

    I trade currencies on Globex..

    In this particular trade.. the price comes back to the EMA.. then takes off... this is what I look for basically. nothing elaborate..

    now on this trade I took a quick profit on that quick move..

    I think the market continued up even further after that..

    I need to work on my trailing stop strategy..
  4. gg12


    Hi Flash,

    thanks for the information. What is the reason for you to use the EMA instead the SMA?

    Could you please give some ideas of profit targets?
  5. gg12


    .. forget to ask. Can you post a chart which is more actual and shows an example of profit taking?

  6. gg,

    Here is another profitable trade..

    For profit targets I like to trail a stop below the low of the previous 2 bars..

    sometimes when I get a quick big move I take the profits quickly and abort the trailing stop...

    I need to work on my exit strategy...


    I like to close these positions when it nears 2:00 CST..

    As for as the EMA versus a SMA.. I just had grown comfortable with the EMA.. no particular reason... I've read a few times that the EMA gives a better representation of price due to adjusting for the most recent prices as opposed to those 20 periods ago..

    Hope this helps..
  7. gg12


    Hi Flash,

    seems that you can only loose max two bars, but have all upside.

    What can you improve on your exit strategy?

  8. basically.. need to become more confident in it..

    and learn when to adjust it.. such as after a big upbar.. say a bar 2 - 3 times the size of the avg. bars.. place stop slightly below the halfpoint of the big bar
  9. dp,

    I'm still on a break.. these are past trades