Futures and Forex Trading Journal Currently Short

Discussion in 'Journals' started by mwingo1135, Jun 6, 2011.

  1. I will be using this message board to create a journal of my trades using the 4 Hr and Daily charts with the Forex market and the 30 min and Daily Charts with the Futures Market.

    I will be posting my trades live.

    I am currently short Dow Jones @12139 0.5% Risk and @12119 2% risk.

    I closed a 12336 to 12155 during the ADP to Non Farm Payroll carryover.

    I will be either creating or getting one of those free websites to upload trading statements, Images, and analysis.

    I also will post on facebook.

    This website has a lot of veteran trades so I am not posting trades to form any competition. I am looking to keep a public undeniable track record.

    Happy Trading.
  2. I wish you well. Which forex pair/pairs do you trade?
  3. Thank you for your comments.

    I currently monitor and trade.


    I will be posting live trades for my trading journal here for all those pairs as it relates to the daily chart.
  4. Did you also start any journal on another forex forum? If not then I'm glad to follow your thread.
  5. I will create another thread where all my post will be cumulative in that one thread. I may start that tomorrow.

    Dow Jones trade has reached first target and S and P 500 has triggered a trade with my strategy. If the numbers and pattern holds I will be shorting S and P 500 tomorrow.

    I monitor forex message boards and also looked at the website www.meetpips.com as it relates to forex journal. I contacted the admin for that site and they are about to launch a completely revamped and more feature rich website in about 3 weeks for forex journals (still will be called meetpips) I will look at that when its done.

    But everything outside of intra-trade commentary (I post these on facebook [i.e. what the position is doing, current total profit, etc]) will be posted here. For that matter posted here will be my trade statements, images, weekly anaylsis, and trade entry and trade exit will be posted here.
  6. e/u at 1.4560. What would be your opinion about it for next 12 to 24 hours?
  7. [4 HOUR CHART]

    EURUSD has reached the top of resistance.

    1.4648 is the top of resistance and if it hits that level and closes above it then the market will overshoot 9 times out of 10 (but also catching the 1 time out of 10 that it goes the other direction is what makes great traders great)

    the EURUSD right now is practically dead it may or may not come back alive during Asia opening so next would be London opening.

    The main trend is up (Investors) and the short term trend is up (traders) but the short term trend is about to cross over where you might either see sideways movement or a small not really major retracement back to 1.4526 support. Even if it passes 1.4526 its a HIGH probability unless something fundamentally changes that it will not get below 1.4450, there is just to much support there. It would need to break three support levels including fib and that is not happening. So until investors reset. Traders will have limited range on the EURUSD the next 12-24 hours.


    EURUSD just hit a pivot point at 1.4648 and is resting waiting for a reset. The first wave up that started open of daily chart May 30 2011 has paused and did a slight retracement (not good to try to trade retracements, learned that the hard way) if 1.4526 holds investor may look to take the EURUSD to the next major resistance level at 1.4892 over the next couple of weeks and try to push past this point to retest the last swing high of 1.4938 and try to cause a breakout which will bring more traders long EURO.

    Overall between the 4 Hour and Daily chart the EURUSD is in a short pause limited to no range but the main trend/institutional investors are long.

    SIDE NOTE: The market has triggered a temporary cycle reversal for the EURUSD on the 4 Hour chart (main cycle was a long trend) as mentioned above it appears traders are looking to take the EURUSD short to at least get close to all those support levels but right now there is little to no activity. If I had to pick a direction short term it would be short but I am waiting for the reset tomorrow and am not participating in the current swing/cycle reversal (if all those support levels were not there I would be short 1-2% risk EURUSD right now First Target 49 pips were about 24 pips has already past. Second target of 110 pips would put me smack dab in the middle of the congestion (the three support levels) and I do not like to drive in heavy traffic.
  8. Thanks for the response. I went long. I was not expecting much (around 25 pips before Asia). I am however not patient, will just take some of the profits (between 15 and 20 current). If asia brings it down, and if an upmove is detected, then I might go back in. My guess is that some people might see today's bar as a reversal, but it could also be a trap before the real one.

    Where do you see the action in currencies in term volty going forward?
  9. MW, good observations, I would like to add that 1.4838 - 40 ish is the real resistance, been long since 1.4333 on the down candle of 6/1, looking for 1.4790 ish.

    Good Trading To All

    The Ever Longer Timeframe VIPER
  10. Good stuff Viper

    the 6/1 candle was a good entry or add on from the short 1 day pullback.

    The market will start slowing down or speeding up around 1.4838 as it gets closer and closer to the last swing high level mentioned previously.

    All good stuff.

    Keep holding your in a free ride....

    Know when to hold them, know when to fold them, know when to walk away; No need to run.
    #10     Jun 6, 2011