Cwn6161's Trading Log

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cwn6161
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Postby cwn6161 » Wed Sep 22, 2010 3:29 am

MightyOne wrote:
cwn6161 wrote:No complaints here! Just wish it wasn't demo :wink:


You know how to change that :wink:

Risk no more than 5% of your account per week and only place a trade when you feel that it would be stupid not to place a trade; there is no point in risking money when you are confused.

Do not tell yourself "all I need is X% a day"

Your needs are irrelevant...

Ask yourself how you can best trade the chart in front of you without external forces guiding your decisions.


Funny you should say that... I actually tried to fund my MBT account not too long ago, but I moved recently and they didn't like me crossing my old address out on the check. Lucky for me, this gave me some extra time to focus more on trading. As soon as I get my new checks, I should be able to start for real :shock:

I appreciate the encouragement, and for all the advice you've given on here. Brick walls sometimes need a lot of hitting before they fall down.

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cwn6161
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Postby cwn6161 » Sat Sep 25, 2010 5:33 pm

Weekend analysis!

CC daily chart shows an uptrend. Weekly chart does as well. My blue line is where I'd like to see price NOT close below. As long as it's above that I'll shoot for longs.

I'll be looking to buy at a daily low extreme (since I want to go long), 75 pip SL, 5% risk. I don't think I'm ready just yet to start making averages, but we'll see.

Image

cwn6161
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Postby cwn6161 » Thu Sep 30, 2010 12:23 pm

Took a long position earlier in the week. Looking at the weekly chart, I can see some resistance from a few months ago that price tried to break through but couldn't. I'm going to take my profit now while I've got it! A little over 8% gain.

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Here's the weekly showing resistance.

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cwn6161
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Postby cwn6161 » Sat Oct 02, 2010 7:27 pm

For next week - direction still long. Will look for low extremes to enter, but if a CC closes below the line, I won't try for anything.

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cwn6161
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Postby cwn6161 » Thu Oct 07, 2010 12:30 pm

In and out for just over 10%. I saw the wick on yesterday's candle and thought it was a good time to take profit. I'm not sure if I'm trading scared because I feel like a reversal could take place.

Image

I'm in the process of going live, but having a lot of trouble. The MBT Nav doesn't seem to work for me on the platform or web client (data is never connected).

I set up a micro account with FXCM, but was disappointed to find that you can't place stop loss amount on pending orders with a US account. Is this the way for all brokers? I've only used MT4 as a demo, so I only know their entry systems.

If anyone has advice on decent brokers for micro accounts, or for being able to set up a stop loss on a trade that hasn't triggered, that would be really helpful.

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bacoazul
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Postby bacoazul » Thu Oct 07, 2010 11:22 pm

cwn6161 wrote:In and out for just over 10%. I saw the wick on yesterday's candle and thought it was a good time to take profit. I'm not sure if I'm trading scared because I feel like a reversal could take place.

Image

I'm in the process of going live, but having a lot of trouble. The MBT Nav doesn't seem to work for me on the platform or web client (data is never connected).

I set up a micro account with FXCM, but was disappointed to find that you can't place stop loss amount on pending orders with a US account. Is this the way for all brokers? I've only used MT4 as a demo, so I only know their entry systems.

If anyone has advice on decent brokers for micro accounts, or for being able to set up a stop loss on a trade that hasn't triggered, that would be really helpful.


Oanda, you can trade 1/10000 lots =), and you can set your sl and tp before the trade triggers
These are my principles. If you don't like them, I have others.

cwn6161
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Postby cwn6161 » Fri Oct 08, 2010 2:14 am

Is that on a US account bacoazul?

cwn6161
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Postby cwn6161 » Sat Oct 09, 2010 5:22 am

Someone at FXCM contacted me and said that with the new rules, they would be allowed to add stop loss functionality back to US accounts on Oct 15th. This is great!

cwn6161
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Postby cwn6161 » Mon Oct 11, 2010 2:31 am

A little late on weekend analysis, but here we go.

Even though the monthly, weekly candles are long, I see some signs of topping on the daily candles. If CC closes above my line, I'll go long. Looking to short otherwise.

Price is currently going down, but I'm not comfortable shorting 75 pips from the open. I'd rather see a higher high made, and short as it drops from there.

Image

cwn6161
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Postby cwn6161 » Wed Oct 13, 2010 11:49 am

I spent some time thing about price and lines this week, and decided that my previous line wasn't very good. I made a new line, at the midpoint of last week's candle. Yesterday I got a signal for long and took it.

The picture here is what I woke up to today. The blue area keeps getting tested and refused, so I took profit for about 5%

Image

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