Friday, January 23, 2009

usdchf

this chart is at 920pm. I am waiting the confirmation turnaround. wondering how much more can it spike. Based on the projections it should move about 60-70 pips upwards. if this level holds. This is the trigger chart on the 15 mins. I am just attempting to analyze whether I can do this good enough. Its friday and after the london mid session. I am not gonan risk any money on this trade. As there has been too many long positions over the week. It is likely that people will be profit taking in the noon session.

Thursday, January 22, 2009

EURJPY

sadly it didn't pull back like I wished for. I think the confirmation pattern doesn't suit me. I need to be more aggressive towards this "trading career". I am running drier as the day goes by. Sometimes you got to be willing to die in order to survive. I am in this position. Maybe the thought of missing the whole 100 pips took a toll on me. Discipline has failed me time again and again. Wondering if I should take the advice of surviving the odds, or risking to trade the obvious.

Plan the trade and trade the plan

Time to put what I have learned to more use and record all my trades. Time to be a sniper and not a mg gunner and hope my bullets kill the target. Here is the setup. I am still waiting for the price price action to enter.

Still waiting for the pullback to the 70 region after which if 70 is tested I will set a sell stop at 50 and hope it carries thru with a stop loss 10 pips above the resistance level.