nick’s trading lounge

Commentary:

8:35am: Beautiful trade on EUR/USD. Made a very strong move out of a supply level.. broke below a trendline, consolidated what looked like a dibs setup on a 5min, and if you look at the 1min it confirmed it. Put in my sell stop order.. and the market tanked down so within seconds of being triggered, i was up 15 and could move my stop to break even. I left some pips on the table, but i got my 2 to 1.
           

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Trades:
Short EUR/USD @ 1.4062, +3.6%

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Results: +3.6%

Commentary:
market is suprisingly boring. nothing much happening on the majors.
I’ve got a gbp/usd buy order in for a dibs setup.. but not sure it’ll trigger at the moment.

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Trades:

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Results:

Commentary:
nfa. just pulling triggers.
going to stick to my money management and trading plan as strict as possible this week.

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Trades:
Long EUR/USD @ 1.4575, -1.8%

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Results: -1.8%

Commentary:

ahh.. i need to be a better trader. I had a usd/chf divergence long that correlated with the other majors.. so i took it. I originally set a target of 40pips (1:2 risk:reward), then moved it to 30pips(1:1.5) as it made sense w/ the trendline. It stalled out around +20 or so.. and I took it out at +15. I can’t do that. I needed ATLEAST +20. ahh. its friday.. didn’t want to give back the week’s gains today so psychology played into it.

[screen shot: lower green-line is entry, exit was 15pips up. (upper green line is extraneous]

Next week… I’ll stick to my 2 to 1 plan. I’ll work on it this weekend.
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Trades:
Long USD/CHF @ 1.0861, +1.6%

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Results: +1.6%

Commentary:

took 2 trades today, a divergence short and a dibs short. didn’t wait long enough on either of them.
the divergence short was set to 30pip target, but i took profit at 18pips bc i wanted to make up for the recent losses from my undisciplined trading/getting off track from my trading plan. the dibs short yielded 7 of 15 possible pips, because it went so far into almost stopping me out.. so any profit after looked good. i’ll work on the discipline to hold.

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Trades:
Short EUR/USD @ 1.4677, +2%
Short EUR/USD @ 1.4640, +1%

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Results: +3%

2:00pm: lots and lots of scalp trades. its working out very well. this may be the only thing i do all day. would’ve been up on the day except 1) got requoted on a loss, 2) shouldve been b/e on that same loss, 3) clicked BUY instead of SELL on what wouldve been a big winner. oops? lol. risking next to nothing on each trade.. just testing out the scalp. basically… im doing my DIBS setup on a tick-by-tick chart.