Chinocops Forex Fiasco
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thread: Chinocops Forex Fiasco

  1. #1
    Member DPert's Avatar
    53

    Chinocops Forex Fiasco

    I wanted to begin this diary for several reasons:

    1. I wanted to be subject in regards to trading. I have already written a program that I use for book keeping, planning and reporting of my trades.
    2. I wanted to receive comments from the community as I am pretty new to Forex
    3. I wanted this for a hartic experience too which I detailed below:

    I have been trading forex for approximately 7 months now (5 months newspaper trading and two months reside trading). I guess I have started trading back in August 2008. I started by buying some puts on CRM. Throughout this time from August to NovemberI accumulated a nice amount of bearish choices. Throughout one Opex, I made about 25k. That was the most quantity of money I had ever made each day. Unfortunately, I let my fortune get to my head. I started to think that trading was simple. Well, you can probably guess what happened next. I went on to make every mistake a person could make. To make a long story short, over the course of two years I went to lose 200k. So I have had my proverbial ass handed to me in the severest of ways.

    In essence, I expect that this really is a Renessaince of my trading career. I have read through a lot of the trading egies on FF, and my evolving trading design is based off of threads: Ken's Continuing Successes with EO, BRV No Brainer Trades, Trading with Deadly Accuracy, etc.. I am trying to concentrate on trading higher time frame charts with using the 5 and 15 minute charts to zero in on my entrances. I am currently trading a little account about 1k. I use very little leverage when setting a trade as I want to have as many trades as I can with this particular account. The money I make or shed is insignificant. In about 3 years that I can graduate to a bigger account. I realize that there'll be many moments of fruion and self-loathing, but I am willing to put up with the growing pains. As you can see I take this very seriously and am in it for the long haul.

    Anyway, I'll be posting charts, trade scenarios and results in my journal so that my progress can be tracked. Again, any comments (positive or constructively harsh) will be appreciated.

    N.B. - If you're crazy and choose to act in my study that is fine, but you are responsible for your own trades. I have discovered the hard way that you have to do your homework. Do not make the same mistake that I did!

    Thanks

  2. #2
    Member DPert's Avatar
    53
    I need to have more faith in myself and quit trying to select the absolute best price. The chart speaks for itself.

  3. #3
    Member DPert's Avatar
    53
    I am concerned about carrying any positional shorts against the Yen since the Japanese have shown the willingness to intervene. I will be searching for brief scalps and will go long from support/resistance price amounts. http://tickerforum.org/akcs-www?post=167509

  4. #4
    Member DPert's Avatar
    53
    Possible short term double top?

  5. #5
    Member DPert's Avatar
    53
    Potential short term top. I would be interested in carrying this trade if there were just one more push towards the large, but as it is Friday I would not anticipate too much downside. It may be good for a little scalp.

  6. #6
    Member DPert's Avatar
    53
    Here are potential trades I am trying to take on GU.



  7. #7
    Member DPert's Avatar
    53
    These are the possible entrances that I am looking for on E/J



  8. #8
    Member DPert's Avatar
    53
    Potential targets for A/J

  9. #9
    Member DPert's Avatar
    53
    E/U short term possibilities

  10. #10
    Member DPert's Avatar
    53
    Wedge?

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