since im trading 2 separate sessions, my daily goal can be split in 2 at 25 pips per market session (tokyo/london) ... let's see how things go

go live or bust ... diary of an fx live-trader-wannabe

daily chart overview returns — reviewing my trades leading up to my eventual blow-up on the dailys leads me to only one conclusion ... i blew it ... gonna give it another try ... charts overview for sunday (gonna use MA's (5 & 20) in lieu of ...

go live or bust ... diary of an fx live-trader-wannabe

interesting where the price action ended up at the close of the week ... not too far from yesterday's low & sandwiched b/w fib numbers (50% & 62%) ... haha, even i could figure out where do draw them!! so ... look for a break down or up to help ...

go live or bust ... diary of an fx live-trader-wannabe

ADX good to keep out of the chop too ... the signals are stuck below 20 & in some cases below 15.

go live or bust ... diary of an fx live-trader-wannabe

goals update — weekly goal will be 10% on trading the 5 min; have not decided on a monthly goal yet will only be trading opening of tokyo (roughly 4p-7p) & 1130p-3am-ish (london) depending on whether or not i meet my daily goal (or possibly ...

go live or bust ... diary of an fx live-trader-wannabe

bernanke speaking at 11am; markets a mess right now. only papertrading for me until the dust settles. not a news trader, but i am a betting one ... bullish dollars short term, bearish long term?

go live or bust ... diary of an fx live-trader-wannabe

studied the chart further & watched the PA & referred back to an earlier post where i surmised the steinitz rule might be used to set-up a breakout trade. here, i saw a couple places where i might have taken a shot at a long breakout ... reasons: ...

go live or bust ... diary of an fx live-trader-wannabe

fun w/ the ADX — this is one of those indicators that is so comprehensive & while trades should not be entered or exited using it alone (even ADX crossover must be confirmed w/ EPR) ... it can tell a complete story at times & be a valuable aid ...

go live or bust ... diary of an fx live-trader-wannabe

here's another variation i saw during london after divergence, price chops sideways w/ no tradeable PA to the hourly MA; PA off the hourly MA for a very quick 5 (10 pips if lucky enuf to execute flawlessly & no slippage); PA for the continuation of ...

go live or bust ... diary of an fx live-trader-wannabe

another divergence play (after large bearish move) divergence presents price begins to travel up price fakes short PA for the long, PL confirms long, then ADX crossover (even EPR); price bursts to mid-bb brief & spikey correction short forming a ...

go live or bust ... diary of an fx live-trader-wannabe

london open 800am ... which for right now is PST 100am frankfurt url swiss url

go live or bust ... diary of an fx live-trader-wannabe

prepared a spreadsheet related to my 5% per day goal. 5% per day at 10 pips per trade is 50 pips per day ... might not be as "conservative" as i thought. 2-2.5% per day is a bit more realistic (20-25 pips per day or 2, 10-pip trades & 1, 5-pip trade ...

go live or bust ... diary of an fx live-trader-wannabe

(checkmark) ... this little pin bar off the 4hr MA was superb & quite "philip-nellish." and the bulls never really got any momentum behind the last move (see ADX) other: yet another divergence play setting up (divergence lines apply to the upcoming ...

go live or bust ... diary of an fx live-trader-wannabe

short off break of bearish outside bar/IB & double bottom on the 30 minute chart ... price broke pretty hard & then spiked up over 20 pips ... my SL did not get hit, but i suspected goofy broker stuff on this one & adjusted SL to coincide w/ the TF ...

go live or bust ... diary of an fx live-trader-wannabe

short off dbl bottom from all charts ... 8.25% getting very close to my daily goal.

go live or bust ... diary of an fx live-trader-wannabe

here's the divergence play that happened today ... all but 7 & 8 occurred (i.e., sideways, b/f finding PA to travel south & no retrace off the mid-bb, just shot thru it ... i am guessing this had something to do w/ the timing of the yen open 420pm & ...

go live or bust ... diary of an fx live-trader-wannabe

[/LIST]played off the middle band using ADX.x.EPR & MTF special, i.e., quad top/break of demark demand line on 15 min, double top/IB on 30 min; IB on 60 min that bounced off support ... textbook 7.26% net

go live or bust ... diary of an fx live-trader-wannabe

short off double bottom after divergence play had begun long ... spread was 3 so it was a tough row to hoe from the get go. got to 4 b/f spiking up to 2 pips; had enuf w/ it so took the 2. gonna did out my divergence outline. net 6.9%

go live or bust ... diary of an fx live-trader-wannabe

nice trade — break of quad bottom on the 5 min after the ADX.x.EPR trade w/ consensus in the 15 & 30 min ... tried the 1/2 lot thing w/ this one & was not happy w/ the results. 10 pips on 1/2 ... let the other trail. started goofing around & ...

go live or bust ... diary of an fx live-trader-wannabe

poop, missed another MTF special 5 min: ADX crossover after 2932 (for EPR) 15 min: IB long break after 2932 30 min: pb break long at 2944after price broke 2944 it formed a PL in the 5 min at the close confirming a long too bad ... so sad

go live or bust ... diary of an fx live-trader-wannabe