Setebos journal

[juanjesusag]

Having spent quite a while round and after the second finally came for me to start trading full time I'll be posting here a few previous and still open trades, analysis, suggestions and whatever may seem interesting at the moment.
The reason I do not do this in my personal blog is because I came to understand that I want to separate trading from personal life, otherwise emotions will surely kill both.
The intention of this diary is for me to be able to return and see what I did right, what I did wrong and finally what could be improved. I have a tendency to be quite inconsistent with blogs and journals but hopefully I will keep the power and desire to post here on a regular basis.
On a different note - I do understand that this is a public forum but this thread is my own personal diary and it follows a specific purpose. Everyone's welcome to drop in, ask questions, etc, but I will not tolerate smart asses or (that I finds quite common round the FF) people coming and behaving like I owe them anything (knowledge, answers, etc).
Having that said here are a few ready answers for any newbies that may come by this thread:
- I do not use platform, I try to approach and understand the market each and every day
- Market is ultimate, period
- I scale in and out (more rarely) - I do not recommend this, I just do it
- I do not use any indiors other then finally a MA
- I trace a large number of markets, some of them on several time frames. I believe this is vital for anyone who is seeking to stay alive in this industry on the long term - you have to understand that this is sport of funds flows and feelings on a global level so in the event that you want to be good in the sport you want to know the rules.

This should be a fair beginning I think. The remainder will come with time. Or not https://www.nigeriaforextrading.com/attachments/1528568832.jpg

[juanjesusag]

Not much to add now actually - was a pig over and was fortunate to get away with less then 1% drawdown. Need to place those feelings under control desperately. A couple of things I realized I missed searching after now:
- Landscape
- What the enemy is performing
- Preparation
- Strategy
- Real time egy direction

I am seriously thinking about not investing tomorrow for lots of factors. We've got an expression here that the morning is wiser then the evening so that I will see how I feel tomorrow and make my mind up then.

[juanjesusag]

First day of the week and the month - time to measure the landscape and determine what the possible scenarios/possibilities are. I have a tendency to follow both technical and macro economical studies so that I will lay some thoughts on both fronts .
On a different note I don't like trading first/last days of the month for a number of reasons, so that I will leave the action to create itself and maybe place some transactions in NY afternoon.
Considering that the season of the earning began markets happen to be playing weird with key interest focused in cable and YEN, while EUR is only after. I had only prepared a chart of EU showing a possible correction scenario however the racing NY volumes sent that straight to the garbage sending the price above a week's top. I am going to need to wait for the rush to calm and reevaluate the situation there.

Cable was galloping north for quite a while already and it's becoming to look very overextended for me personally to say the least. We are now very close to the key 1,60 level so I'll be seeing that one with extra caution.

The yen was a major battle lately being the main funding currency for carry trades. The Japanese economy does not really offer any signs of stable retrieval so the old deflationary downtrend remains in play there.

On the fundamental front it appears things are finally calming down after the EU disaster and despite the parody the strain test results turned out to be markets are giving some value back into the older continent currencies. It's a different story that risk aversion might be slowly returning to US since the US economy is far from indiing a sound retrieval. Actually it's exactly the opposite - debt is piling and the only sector which managed to grow by any substantial margin is (surprise, surprise) that the Financial, where Wall Street is playing with taxpayers' cash to add some green figures into the GDP results. Focus is slowly turning to employment issues again where it's now obvious to everybody and their dogs the cooked statistics doesn't reflect the real situation. With the Dow stuck in no man's land again and worries of double dip arising again QE 2 might not be that far (or even impossible as a lot of pundits bravely declared from the tube). If that occur await for the dollar to go to hell again as the printing press pushes the weight of the debt stunt ahead of time for the generations to come.

Edit: Seems the strain in the west is climbing again and what a surprise - GOLD exploded marking more then 1 percent for significantly less then 1 hour.
https://www.nigeriaforextrading.com/attachments/15285688561767466594.jpg
https://www.nigeriaforextrading.com/attachments/1528568859844957738.jpg

[bemlapablo]

Hi Setebos,

You appears to have so much to talk about and I will be waitinghttps://www.nigeriaforextrading.com/attachments/1528568837.png maintain it coming my friendhttps://www.nigeriaforextrading.com/attachments/1528568837.png

regards, be good and be safe.



P.s. are you currently trading just 1 pair or you do crosses too?

[juanjesusag]

Hi,

You appears to have a lot to talk about and that I will be awaiting https://www.nigeriaforextrading.com/attachments/1528568837.png keep it coming my buddy https://www.nigeriaforextrading.com/attachments/1528568837.png

regards, be good and be safe.

Dongsky

p.s. are you currently trading just 1 pair or you do crosses also? Hey , thanks for dropping by https://www.nigeriaforextrading.com/attachments/1528568837.png
I haven't posted here for some time for a number of reasons but I do intend to keep it going.
So to answer your question - no, I exchange anything that grabs my attention with a strong bias to gold - that thing just ticks by the book when it's not heavily manipulated.
I'm thinking of restarting the tradition of earning an summary of the week that passed and construct a few situations for the week ahead. . .something like a tactical overview, so to say https://www.nigeriaforextrading.com/attachments/1528568837.png

I really don't see you about a lot recently - trading actively? Https://www.nigeriaforextrading.com/attachments/1528568837.png

Greatest
S

[bemlapablo]

I will be seeing your journal from time to time my buddy and that is for sure.

Yep I am actively trading and wanting to concentrate as far as I can; though I had been struck twice last week , I still managed to get a back last friday...

regards,

be great and be safe

[juanjesusag]

Yeah, PA is awful during summer time. Thank god August is coming to a conclusion.

Regards
S

[sangmayanpknio]

I'm tuning in https://www.nigeriaforextrading.com/attachments/1528568838.jpg

[juanjesusag]

I'm tuning in https://www.nigeriaforextrading.com/attachments/1528568838.jpg Hey Mark, howzit goin guy, long time no word, hope all is fantastic https://www.nigeriaforextrading.com/attachments/1528568838.jpg
Did you see what happened to England in the WC? Poor bastards https://www.nigeriaforextrading.com/attachments/1528568838.jpg

[juanjesusag]

Started making some analysis so couldn't resist to figure out he obvious... it is so bearish it makes me believe there's something wrong with this particular chart, hah
https://www.nigeriaforextrading.com/attachments/1528568861499621605.jpg

[sangmayanpknio]

Hey Mark, howzit goin guy, long time no term, hope all is fantastic https://www.nigeriaforextrading.com/attachments/1528568839.png
Can you see what happened to England at the WC? Poor bastards https://www.nigeriaforextrading.com/attachments/1528568839.png All is my friend, submitting much lesser nowadays, can't fit in what is happening innigeriaforextradingfor most part. Just quietly stalking TAF and the jacko saga is intriguing too https://www.nigeriaforextrading.com/attachments/1528568839.png.

eh. . .the brits ? Haha nvr mind...

I see you went full time, all the best man, respect for being mad enough to do this.

cheers

[juanjesusag]

OK, eventually accepted my err and took the strike. It's one of these sobering moments that make you wanna break your leg up your ass for being such a stubborn moron.
Anyway, a lesson in humility and subject is always welcome. And it is not fine but courses always come with a price tag. I just paid for minelets hope I do not forger what I heard

[juanjesusag]

I'll be switching brokers so I will have a break out of trading for a couple of days. Will also use time for some analysis - equally on markets and myself.

[oxmiogog]

Hey Seetbos

Only wanna fall in to say Hi to a fellow Fti/AOW practioner https://www.nigeriaforextrading.com/attachments/1528568839.png

Wish u all the best in your new preferred path of a complete time trader.

Will be following your journal https://www.nigeriaforextrading.com/attachments/1528568839.png


Dance Well

[juanjesusag]

Hey Seetbos

Only wanna fall in to say Hello to a fellow Fti/AOW practioner https://www.nigeriaforextrading.com/attachments/1528568839.png

Wish u all the best in your new chosen course of a complete time trader.

Will be following your journal https://www.nigeriaforextrading.com/attachments/1528568839.png


Dance Well
Sylar Hey Sylar, thanx man, love it, best of luck 2 u too https://www.nigeriaforextrading.com/attachments/1528568840.jpg

Rgrds
S

[juanjesusag]

Moving through my charts a couple of things worth mentioning:

USDJPY - this is simply going to hell now. I can't begine to imagine what is going to happen to the Nikkei tomorrow (tonight). PA broke the bottom and is heading to test BoJ patience/commnt of their'94 underside @ around 78. Whichever comes first. I personally do not believe the BoJ will not have the ability to resist it alone (just like what happend to the SNB earlier this season ) and will probably attempt to wash the bears using 1 or two big hits during low liquidity time zones, that is what I would do in their place.
GBPUSD - Cable is back in the bear mood with its own fiber sister and I doubt that the 200DMA, which generally acts as a fantastic support/resistance will slow things considerably.
USDCAD continues to be acting its own things for quite some time now agains all the fundamental data available. I have caught myself in the bear trap some time ago (and it hurt me bad) when news came out great for Canada, awful for the US and technically the bear momo was strong. Rather than going down big the damn thing taken itself forthe moon and is now challenging the 1,060 resistance that's to be detected with extra caution.
AUDUSD being a major funding currency keeps correlating closely with the Dow and SP so until we see some increase there (i.e. until Ben begins printing big time or by any mirracle that the US generates some fantastic economic data) I shall be ready for increasingly more bearish setups there.
https://www.nigeriaforextrading.com/attachments/1528568863599966606.jpg
https://www.nigeriaforextrading.com/attachments/1528568864864208152.jpg
https://www.nigeriaforextrading.com/attachments/15285688662078375667.jpg

[oxmiogog]

There's plenty of bloodshed goin on from the Fx kingdom...

Lesson No.1 of AOW practioner.... to Await the moment

[juanjesusag]

While awaiting my capital to be moved to my new broker something bizarre struck me from the charts. The dollar is well-known for its safe paradise status - examples are more then sufficient, choose the rush after the Lehman collapse as a recent one. There is something new nevertheless, a sentiment that started forming during the last week or so because the US market started printing bad information again - every time bad news come across we do not see the rush to the dollar even with Dow plunging. Which brings the question are individuals finally coming to loose their confidence in the greenbag fantasy? And what's going to happen to the dollar when Ben begins the printing press again ahead of the double dip threat?

[juanjesusag]

Enclosed yesterday's and today's charts on EU. This ping-pong range game appears to have a crush to get the pulp creation (HS) big time, LOL
I've a feeling that we are going to see a buy on rumors market on news situation now with the US Unemployment claims. The market will show. Dance time now, looks like a great shorting possibility, well see.

Edit: The 2720-30 level appears to be a preferred stop hunt zone. Looking to perform the traders game should happen. Easy pips, come to daddy.
https://www.nigeriaforextrading.com/attachments/1528568869928979958.jpg
https://www.nigeriaforextrading.com/attachments/15285688721872385661.jpg

[juanjesusag]

Right, here we go. I attempted to have the picture to explain all of it, however I must add that because of a personal thingos last night I couldn't came to the displays at the morning and needed to start working on it at the first afternoon.
The remainder is in the screen shot. Once I took the printshot the price moved south so I have added 0.5 to the initial position size. Getting a bit late so I may have to leave it using some protective orders and struck the bed already.

Edit: did not enjoy where majors are appropriate now, I am too sleepy and the damn thing is barely moving - determined to deliver the pray home and go to bed.
https://www.nigeriaforextrading.com/attachments/15285688521044142359.jpg