hehehe...nvm lar...as long can get profit...better than not profitting.. 15 pips per scalping is quite lot to me

i think i'll wait till this bar over first, then see how's the outcome of the previous's move

i scalp for 3 pips per position only but start to wonder should i increase my target..hmm...maybe i should go back scalping for 10-30 pips
damn it, must hurry earn more and buy myself a laptop to trade while working

$5.3 thusfar today...lol...so little compared to you guys aih...the month i can get consistant 10 pips per day, i'll go "live"...now i understand the difference between demo and live

aih..go sleep first, wake up earlier see how's the market..

@normeck:
my method - first pattern (candlesticks and identify R/S), then MA (20, 100, 200), then momentum (RSI and stochastic), then Gann and Fibonacci..

but it's better you refer to others that scalps for larger pips i use very high leverage if to make profit

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Added on July 10, 2008, 12:16 amhaha..i'm using a micro's capital, but trading with max micro lot...so i just open a mini and trade with 1 mini lot first

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Added on July 10, 2008, 12:35 amanother sohai mistake...never learn...say go sleep, but itchy hand go open position, at market price somemore...damn sohai....

argh!!! GU...down down!!!! time to reverse lor!

This post has been edited by small-jeff: Jul 10 2008, 12:35 AM

aah...got $22.94 from EJ and GU reversal...regained some confidence

was 23.3 ...chickened out half way through profit eventually it hit the TP i set...but positions were closed...still better than nothing.

hm...this made me reconsider my risk/reward ratio...i think i need to draw a candlestick chart on my trading...maybe can help to avoid being emotional

ya lor...need huge confidence. too used to scalp small pips..suddenly change back to larger pips...scared to place positions...lol

how was your EJ swing? wah..the rollover should be good also ya?

hm...tomorrow US Trade Balance report coming out...might need to watch out during that hour...

weird...today US indices are moving up, but USID is slightly down. Maybe most index speculators cashed out today...

anyway, lowyat...it's good to watch out on 168.94, or somewhere that area. It's the high on Jun 2007. Previous BO on this price rested firmly as support before heading back down. just my 2 cents..

hitokiri:

yeah, i believe GU will go down as well, forming a 2 wave down. hope when i reach home, there would be better signs. maybe a small bear flag...

yesterday's bear started with the london session too hope they still have the same sentiment. then tonight can scalp for its reversal during NY session..

phew...just now was losing cause got trapped...tension for 3 hours non stop...fark...while the GU was still open, it freaking went up again...more tension, up to -60pips...luckily i was right where it'll reverse...damn...catching the reversal wave can give heart attack someday...just now even needed to look at tick chart to identify exit...

this week's drawing is done for...better keep profit and wait till next week...dont wanna trap in consolidation...

look here you'll understand...

This post has been edited by small-jeff: Jul 11 2008, 11:06 PM


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haiya...there are profit days and non-profit days...dont worry...today i'm profiting (though less than i expected), tomorrow i might lose...

yeah...dunno whether it reached -60pips or not..when it was -50+pips, i just placed SL, go out for a smoke, sit down and watch tv...lol...

anyway, i think there might be a better chance of reversal after or about 1am...see how the 4H bars close first...already a shooting star for EU..graveyard doji on UJ, undecided on GU yet (GU seems to be lagging behind those 2 pairs)

another one might reverse is EJ

ending trade for tonight, good luck guys

p/s: i totally forgot the trade balance report coming out tonight...next time, i should write it down and paste to my wall...

This post has been edited by small-jeff: Jul 11 2008, 11:17 PM

@lowyat:
wah...very nice there...up up all the way

hopefully i can get back my capital soon too

oil price shot to $147.xx/barrel today, but fall short to $145.xx later. If oil price continues to raise, EU might just head towards 1.6000 next week...seems like the bear move of USD wasnt because of reports (reports came out OK), but on oil price.

yeah...1.6000 ...but in order to break that, the oil price might need to break it's own stiff resistant as well...at $150

wah lowyat...70 pips...very strong you took the late bus ride?

you got open multiple positions, or on 1 position..? very jealous...hahaha..

@hitokiri:
you missed the 1am bus?

wow...even EJ also shot up to high...hm..would need to take some time to draw back everything...

haha..i was also being cautious from entering trades..worried it might form new pattern. That 3 hours break virtually almost all the R/S i drew

ya..its good to be on weekend. this week has been a hell of a week after work must go back and have a long sleep...

ooh..you mean like buying 30k, then sell 10k, which would remain 20k open? yeah..kinda notice that, but not enough money to go above 10k per trade

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Added on July 12, 2008, 8:06 pmjust now i read some news on what happened on friday. seems like the financial situation in US is getting bad. A bank just went down last night...

This post has been edited by small-jeff: Jul 12 2008, 08:06 PM

hm..for GJ, it might go further south.

1) bear flag - the down move since late Jun 07 is the pole, now forming the end of the flag.

2) 2 dojis at the top of this larger retracement.

3) EW - wave 4 (smaller wave within wave 4, 5 waves have completed)

hm..if i were to trade on GJ, it's better to draw a smaller fibo using the extreams on march 08 low and may 08 high. target to be set at 38.6 and 50.0

aih..just woke up ...later need to redraw my charts...was wondering how big of a gap will we see tommorow

just done looking at EU. The yellow lines, like usual, are the Gann retracement. The blue lines are Fibo Channels. Chances of getting into the 1.00/0.618 channel is rather slim, still possible. Depending on the oil price on Monday, I'll go long once it broke through the upper Gann retracement at 1.5950, but will be cautious at 1.9600..the price would/might bounce off at the 1.618 channel resistant


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hm..just to look at the oil price a little. seems like at the last hours of friday market, it formed a bear flag after a much bearish reversal. Though the flag is considerably long compared to the pole...the candle sticks on the flag doesnt look bullish at all. So, if this is a successful bear flag, meaning that on monday, oil price will get back down. That would ease up a little on the financial market. With thursday and friday's down move of most stocks, maybe can see S&P500, NASDAQ, DJI go up a little, along with USDI.

with the current oil price at 144.03, good chance it'll head back to 145.00 first. Perhaps then, we'll see a continuation bear move on the crude oil, and a more bullish on US dallor.


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a short position on GJ, the rollover rate is quite high oh...usually -$2.00++, and -$6.00++ on wednesday... carrytrade on position for 1 week = -$14++ ....but ofcourse, if one is manage to put in a right entry, weekly trading could possibly get about 200pips...but still, it's about 7% (if profit $200). If wanna do carrytrade...a long position is always better