Tuesday, December 20, 2011

don't let a winner turn into a loser!


I missed out by 1 pip, but could've caught it at $3 positive (I moved my stop closer) and then at .30c when I should've closed out.

I t was one of Dom's calls that I modified because I got in late

Thursday, December 15, 2011

TITZ:3 I bottled it and missed out on 200ish pips


I entered at a good spot 1.5462 anticipating the move up, My stop was at 1.5429, price came close to my stop which was just below the 200 MA.

I could start to see a downward slope starting to develop, which spooked me and I resolved to get out the next time price came up to my entry.

I got 1 pip out first and then took the other 2 10 minutes later instead of riding the ulcer roller-coaster.

Lost Opportunity is better than lost capital, but this opportunity would've had me back at break even (grr).

I must hold fast to my convictions and have confidence in the analysis.

Monday, December 12, 2011

TITZ:1 GBP AUD


The 1st trade following the TITZ test,

Be Bold - be consistent and disciplined, go in 3 lots and scale profits out.

Although Scaling out is not how Grant does it because in general you don't scale out losses.

I can't remember why I chose to Sell, maybe 'cause the curve was leveling out and it looked like the 23% would hold as resistance, anticipating a continuation down.

On the 5 minute you can see some strong momentum down which would have encouraged me.

I held the stop open to see if it would bounce, which was a test on discipline.

TITZ:2 GBP AUD


Kind of a coin toss, I saw the 15m bounce off the 200, it was a 23% retracement and in the direction of the shorter trend (Bullish), I couldn't find any divergence and was leaning to Sell until I figured that would be counter-trend.

I saw 25pips looked to be the harmonic number on the 1 Hour.

I went in with .03 lots with the idea of scaling out once I had $5 profit and managed to take $1.80 and then put a trailing stop of 20 on it.

I didn't put a TP but was looking at the previous (yesterday's) peak as a Target. I walked away and missed the top.

When does "If not monitoring, place 1:1" apply?

I put the stop at 45 points, a little less than TITZ:1 which was 50 ish.

The 2nd 2/3rds closed out 1 pip less than the 1st 1/3rd.

Tuesday, December 6, 2011

GBP AUD missed by 3 pips!


I saw a support line forming around 1.5209 which was also near the 78 fib retracement and possibly a 23% on an smaller move.

I also found a slim divergence on the AO by about 20 points.

I knew it was a tight stop, thinking the support line would hold or it wouldn't - but I think support lines are a bit more fuzzy

The GB PMI came out positive and there was a very short spike at 22:28 but by 22:30 it was back to normal and started to go down.

I was thinking the PMI might pull it up, but it didn't, so I left it - I could've/should've closed out for a couple of pips loss but went to bed instead.

AB was anticipating low AU Bank numbers and for the AUDUSD to drop (and it did for 2 hours but returned in 7), which was probably the cause for my failed trade to go 1:2