Thread: Bears trading diary

Took a long position @ 1.7588 @ 7.02am London time

ideas and Suggestions

There continues to be momentum for extended according to the afternoon chart along with the contracting bollinger bands around the 1 hour chart along with the subsequent false break based on bolly rules affirms this. The GMMA was signaling a very long trade and one was shot.

Trade went 20 points in profit and put stop loss to zero according to trading rules.

Conclusion

Stopped out to get a zero as week chart and the relevant bollinger bands came into play forcing the long position to become short lived. Closed out to get a zero point loss.

Took a long position @ 1.7395 @ 7.28am London time

ideas and Ideas

Current price proved to be a long way from the afternoon chart moving average. A few things might have happened according to principles because of this, 1) price might have retraced back towards the moving average, 2) price might have achieved nothing and waited until the moving average caught up together with it ) might have continued the momentum for short from yesterday. When all else fails follow the GMMA. GMMA stated to take a long position therefore a long position was shot.

Interesting to note that on the weekly chart, a flag has shaped and could see price visit 1.7000 when the projection goal during the next week or 2 are anything to go by.

Trade went 20 points in profit and put stop loss to zero according to trading principles.

Conclusion

Stopped out for a zero as the position was shot 20 points to overdue due to uncertainty in my part not being cozy with a long position after such powerful moves south in the past days. Not to worry tomorrow.

Total points because journal started

50 Points

No position taken

Thoughts and Suggestions

Market might have gone either way today. Market still had not gone back to the afternoon chart moving average and is trading waiting for the moving average to grab. The GMMA affirmed this using a tight trading group indiing to depart alone. I had been looking out for a break under the 7350 place as about the 1 hour chart there was a flag indiing that it ought to go down but on the conflicting signal on the 4 hour chart and bollinger bands rules of the false break to the opposite side of authentic direction signaled a long position. With these conflicting signals and the GMMA providing no indiion I decided to stay away

Conclusion

No position taken

Total points because diary started

50 Points (damn slow week )

Long @ 1.7375 @ 7.32am London Time

Thoughts and Suggestions

Day chart is still short and has not complete retraced back into the moving average. Still in a trading band however moving average is beginning to ch up to the price. GMMA indied a long and a price target of 1.7400 predied on the afternoon chart moving average, therefore place taken long. Farm figures out in the US later today at 1.30pm London time, therefore appears that this Long is only a move to set up from the afternoon chart moving average to get a good short later in the day. Will keep your eye on the GMMA to get a sign for short later in the day.

Conclusion

Missed the target by about 7 points, price beginning to struggle and the afternoon chart moving average beginning to come into play. Closed position to get a massive (sic) 7 Factors, almost not worth getting out of bed for. Still going to keep a watch out for shorts .

Total points since diary started

57 Factors

Short @ 1.7363 @ 1.09pm London Time

ideas and Suggestions

Was maintaining an eye on shorts according to a few patterns, a flag in the day chart suggesting a short and a pennant in the week chart also suggesting a short. The days earlier move north was basically to squeeze out the final of those shorts and find a better position in the day chart moving average. GMMA had given a poor indiion for short just before FARM's but based on the other things suggesting a short that I have been keeping an eye on for the majority of the week took a place short.

Conclusion

Position moved in my direction after the FARM numbers came out and proceeded solidly south closed for a total of 106 points and even though I thought the move was not over and would move farther south determined to take the money and bank it for the week and then leave something on the desk for the others.

Total points since diary started

163 Points

Total points for the week.

163 Factors

Short @ 1.7279 @ 7.52am London Time

ideas and Suggestions

Day chart rules was suggesting short and GMMA too short, waited to get the 4 hour moving average to develop into play along with short position taken. Expected a decent move south following the strong move on friday and weekly and daily charts projections

Conclusion

Position transferred 40 points in my direction and zero stop group after 20 points in profit. Market proceeded south and expected it to last, but came and formed a double bottom on the 15 minute chart and the proceeded to ramble north for the next couple of hours, came back to the 4 hour moving average and again expected a move sotuh but nothing came about of it and drifted north again. Market came back to break even and place and no stop removed. Closed for no points.

Total points since diary started

163 Points

Total points for the week.

0 Factors

Long @ 1.7361 @ 7.07am London Time

ideas and Suggestions

Day chart rules was suggesting long and GMMA was also long. Took a position sadly at the very top of what was be a channel, which lasted until the current account figures came out of New York later in the day. It seemed that price wanted to perform a fib ratio across the day chart moving average and had a profit goal of 1.7435 which was also the very best bollinger band on the day chart.

Conclusion

Market drift sideways for the majority of the morning and bounced between 5 and -20 about the profit/loss stakes for nearly the whole of the London session. Weren't pleased with this but stuck to my guns and held the position. The price moved across the day chart moving average and this finally became support and as new york amounts were due out soon. GMMA told me to keep the position until the very end and roughly an hour after the figures came out the market moved solidly to the pojection goal so shut to get a 69 point profit.

Total points because diary started

232 Points

Total points for the week.

69 Factors

Hello,

Can you Utilize Stops? If so, what are they to the above transactions? If no Stops are utilized, or if you manually add Stops along the path of your transactions, no response is nec.

Thanks.

Hi,

Only in answer to your query.

I use stops and it is a standard 40 pips and once in profit by 20 pips then stop changed to zero mentioned in my previous posts.

Only a friendly word.... This is not to discuss my trades my egies or anything similar to that. I am not trying to make a name for myself personally like some of those others on this, I'm not needing to sell a system, I'm not wanting to run seminars, I'm not wanting to advertise myself in anyway. I have over 14 years in the financial markets and also make enough out of trading to help keep me happy.

This would be to maintain my trading honest and a public record that I can not shift for myself and a number of my private customers (no I'm not looking for any more, sorry)

This is not to belittle anyone, it is made for my diary which is exactly what I thought that was for.

Happy trading

Bear

PS if you have questions you can PM me

Originally Posted by ;

Hi,

Only in answer to a question.

I use stops and it's a standard 40 pips and after in profit from 20 pips then stop changed to zero as mentioned in my prior articles.

No problem - that I won't post here again (you may want to let people understand that posting here is not desired ). I saw the statement about clearing 20 pips but no statement regarding the 40 pip standard stop, till now.

Ayway, thanks and that I won't hijack your own thread.