Very choppy and no follow through - stuck to the guidelines and just traded the morning session. Profit = 20 pips Time Instrument Type Symbol Entry Stop Exit Profit/Loss Trade Basis 08/18/2006 01:24pm Forex Cover AUD/USD 0.758 0.7582 0.7583 -0.0003 Trailing Stop 08/18/2006 11:44am Forex Cover AUD/USD 0.7585 0.7588 0.7579 0.0006 No Impulse Down 08/18/2006 11:24am Forex Cover AUD/USD 0.758 0.7584 0.7583 -0.0003 Trailing Stop 08/18/2006 10:14am Forex Sell EUR/USD 1.2802 1.2803 1.2806 0.0004 Trailing Stop 08/18/2006 10:11am Forex Sell EUR/USD 1.2806 1.2803 1.2802 -0.0004 Stopped out 08/18/2006 10:02am Forex Cover EUR/USD 1.2838 1.2837 1.2831 0.0007 No Impulse Down 08/18/2006 09:47am Forex Cover EUR/USD 1.2838 1.284 1.2841 -0.0003 Stopped out 08/18/2006 08:37am Forex Sell AUD/USD 0.7566 0.7558 0.7572 0.0006 Breakdown retested (F) 08/18/2006 07:56am Forex Sell EUR/USD 1.2792 1.2794 1.2802 0.001 Figure Spit (F)
Today was a day to be clinical. Traded the Euro short off perfect KnovaWave Setups - the big moves all happened in our sleep but was able to get 38 Euro pips off 3 set ups through the day. A day to limit the pairs - a nice trade on the CHF by Falcon and a EURJPY by Bob really spelled outt he team work on the floor today in a very trying atmosphere! Profit = 38 pips Time Instrument Type Symbol Entry Stop Exit Profit/Loss Trade Basis 08/21/2006 03:46pm Forex Cover EUR/USD 1.2903 1.2903 1.2891 0.0012 Market Close 08/21/2006 11:08am Forex Cover EUR/USD 1.2929 1.2933 1.2913 0.0016 50 ma Spit (F) 08/21/2006 10:12am Forex Cover EUR/USD 1.2936 1.2941 1.2926 0.001 No Impulse Down
I can't recall a day where the market failed to get to our entries so many times by just 1-4 pips and then rip quickly. Indeed it ook until late US afternoon to actually get filled and for No rip then. Had one trade 5 hours after that! A very long day for just 21 pips. Though one good argue could have chased earlier it is the little ones (like the 3 pm trade) that can be the ones that are choppy for + or minus 1 -5 pips. When does the August affect end? Profit = 21 pips Time Instrument Type Symbol Entry Stop Exit Profit/Loss Trade Basis 08/22/2006 10:09pm Forex Cover EUR/USD 1.2808 1.2803 1.2789 0.0019 Trailing Stop 08/22/2006 03:09pm Forex Cover EUR/USD 1.2801 1.2806 1.2799 0.0002 No Impulse Down
Basically a day where the Yen slipped on my shorts for some quick stops and couldn't get back on - frustrating when you look what it did after the exits - but you need the stops. Some money back on the Aussie but overall was down 2 pips on the day. German IFO out in the morning should dive us something off the pennant forming in the currencies. Loss = 2 pips Time Instrument Type Symbol Entry Stop Exit Profit/Loss Trade Basis 08/23/2006 11:16am Forex Sell AUD/USD 0.7627 0.7626 0.7629 0.0002 Trailing Stop 08/23/2006 10:49am Forex Sell AUD/USD 0.7616 0.7613 0.7621 0.0005 Momentum Stalled 08/23/2006 10:35am Forex Cover EUR/USD 1.2805 1.2804 1.2804 0.0001 Trailing Stop 08/23/2006 10:23am Forex Cover USD/JPY 116.52 116.57 116.6 -0.08 Stopped out 08/23/2006 10:08am Forex Sell AUD/USD 0.7649 0.7647 0.765 0.0001 No Impulse Up 08/23/2006 09:59am Forex Cover USD/JPY 116.3 116.35 116.35 -0.05 Stopped out 08/23/2006 08:05am Forex Cover AUD/USD 0.7655 0.7661 0.7653 0.0002 No Impulse Down
Well today was just one of those days - concentrated on the Aussie - sold it three times on rally highs and finished up flat on it and it closed on it's lows. The little Aussie battler got my trail each and every time. Have been staying away from the Euro to get the Aussie right in the NY session in August - that is a tad frustrating. Result = Flat Time Instrument Type Symbol Entry Stop Exit Profit/Loss Trade Basis 08/24/2006 03:02pm Forex Sell AUD/USD 0.7616 0.7612 0.7615 -0.0001 No Impulse Up 08/24/2006 11:32am Forex Sell EUR/USD 1.2772 1.2767 1.2773 0.0001 No Impulse Up 08/24/2006 10:51am Forex Cover AUD/USD 0.763 0.7633 0.763 0 No Impulse Down 08/24/2006 10:45am Forex Cover AUD/USD 0.763 0.7634 0.7633 -0.0003 Trailing Stop 08/24/2006 10:23am Forex Cover AUD/USD 0.7633 0.7633 0.7627 0.0006 Trailing Stop 08/24/2006 09:04am Forex Cover AUD/USD 0.7638 0.7644 0.7641 -0.0003 No Impulse Down
A very nice day for some great KnovaWave setups allowing for quick stop resolution - very pleasing to be just trading the KnovaWave 80/20 with no compromise. Just traded the Euro with 8 trades and fortunately all positive - I have been continuing with the `2 tier policy in orderly markets of scalp/trail 50/50 rather than two different instruments which is working very well as it ensures a calmer status as you are not out of the market as much prematurely and also taking the quicker trades where need be. Also I have been working on quite a few things to help trading etc which I will go over more in the next few days. Below are the results via our position keeper - let me know if that is easier to follow. Profit = 82 pips
Euro continues to come off the 1.4800 zone, which is the extended 78.6% fib of 1.4920/1.4367. Pattern wise a flat topped triangle is developing with dip buying off KnovaWave Parandus setups. Potential breakout buy beyond the 1.4800 flat top curling and gaining in probability. Euro suffering from EURJPY failure and looking towards EURCHF for any stab higher. Knovamind LiveFX suggests continued Parandus plays within the corrective structure. Currently Euro positioning remains long off 1.4741 (at the 1.4739 Parandus) with a trailing stop at 1.4749 offer (Fulcrum Failure). Euro trades 1.4765/66. Trailing Stop to be raised on grid inclination to allow for possible Look Laine Pattern to surprise the herd.
Towards the end of a lacklustre day the Euro closed out around 1.4773. Knovamind LiveFX closed out 50% of the Parandus long off 1.4741 (at the 1.4739 Parandus) at 1.4775 at days end for a gain of 34 pips. Euro trades 1.4775/76. Trailing stop raised on grid inclination to allow for possible Look Laine Pattern to surprise the herd to 1.4753 offered. We reiterate Euro continues to come off the 1.4800 zone, which is the extended 78.6% fib of 1.4920/1.4367. Pattern wise a flat topped triangle is developing with dip buying off KnovaWave Parandus setups. Potential breakout buy beyond the 1.4800 flat top curling and gaining in probability. Euro suffering from EURJPY failure and looking towards EURCHF for any stab higher. Tomorrow's FOMC and US GDP dominate as market watches equities and sifts through rumours.
Euro finally fulfilled the initial target from Parandus long off 1.4741 to the flat top triangle break. After option barriers were triggered in the push above the figure with fund stops run to help fuel the rally to the intraday highs at 1.4817. Overnight we raised our trailing stop on grid inclination to allow for possible Look Laine Pattern to surprise the herd to 1.4753 offered. This held (low 1.4755 trade - very close!) We raise this to 1.4793 offer as decent sellers were reported into the 1.4820"s but bids into the figure soon propped the pre-North American dip. We are always wary of spits in the early US session and will revert to the KnovaWave Parandus rules should we be stopped prior to 1.1.4820 clean clear. Above 1.4828/32 and the 1.4850 fulcrum level stops above 58/62" All eyes remain on the impending FOMC decision at 19:15 GMT, the majority of the market pricing in a 50bp cut to 3.0%. Futures recently suggested the odds for such a move stood at 80% while the chances for a moderate 25bp reduction in rates have fallen below 25%. Should a less aggressive 25bp cut be witnessed then many are of the belief that a less negative Employment report could be in the pipeline.
Trailing Stop hit at 1.4792 after ADP - gain of 51 pips. Will watch wave develop 1.4770 and 1.4755 key levels on downside if this is still Look Laine rather than Banga set.