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Pretty busy today, will try and do a good post later on. Already on third trade of the day :O
EDIT: on Bernanke (and speakers in general). I'm always surprised at the number of people that get caught up in what people are saying and forget about the other market participants. I was at a prop shop once, and everyone (long time, profitable traders) was always shocked when speakers would say positive things and the market would dive. It really doesn't matter much what is said, only the market makes of it.
Dovie'andi se tovya sagain.
Can you help answer these questions from other members on NexusFi?
Ok, bit of a rubbish day. Still recovering my sleep pattern.
Got short this morning at 106.47 off a pseudo trend line psuedo level. We came down a bit but I didn't get anything out of it, reversing my position 10c higher, as we have bounced off that trendline from the other side (pic 1 & 2). I held this and was pretty happy.
Then Bernanke was about to speak, so I got flat, for 2c profit, and as usual, we shot up. Nothing wrong with that, it's the right play IMO, but still annoying. Got long again 35c higher (zzzz), and exited just now because it's late, 13c gain.
Pretty disappointing result for trade ideas, but I don't think I did anything really wrong, just one of those days. Bucket shop is giving me a 5c spread so I guess results are a bit better, but been keeping it as a buffer, slippage et all.
Got up late, finish up early, nothing much done, bit depressed tbh, so not in the right frame of mind to trade.
2 trades, both based on pseudo 5min trendlines. I went long off a line from the steep up trend. Should of waited for a new high I guess, didn't work out, -8c. Got short as we'd rejected new highs, and were forming a 5min trendline from NFP. Target was 106.85, being a trendline. Probably go down to 106.65, but want an easy life.
Took the break of the overnight range, being up early enough is a novelty after bring ill. Nothing much has happened, but going afk for a bit. (short 106.625)
Traded the breakout, that was fine. Reversed on an engulfing rejection etc etc, that was fine.
Completely ignored the line I'd drawn...that was not fine.
Luckily, I managed to take note of the next touch of the line, got in, and got out at a decent level. Huzzah!
Short 106.625-106.675
-$29.14
Long 106.675-106.325
-$179.14
Short 106.525-105.15
$683.36
Total: $475.08
Again, apologies for not posting much theory of late, not really with it at the moment, but if there are any questions I will answer.
It's far too hot to be out cycling today, nevertheless, been away somewhat. Just the one trade today.
104.6 & 105.7 were the closest levels of interest this morning. I had an order to buy at 104.58, but didn't get there quite, perhaps a mistake, but really in the long run, I doubt it makes much difference whether you pick the level, just about it, or just below it. Never bounced off the trendline, so didn't take, but might of.
We came back up to it (although was expecting it a lot earlier), and I was a bit unnerved, so got in at the break of the 5 min swing. Put the usual dollar target on and stop at 105.55 and went out. Could of got double, but as explained previously, not required for Pulsar.
5 min shows daily look, and hourly to show why the levels are important. HOLY HELL I'VE REMEMBER TO ATTACH THEM TODAY!
EDIT: haha, I remembered the attachments but didn't post the trades.
It's Friday, it's the end of the month, it's apparently the last day of lovely weather where I live, so screw trading.
This morning I saw a rising trendline, and a level at 103.58 (ish), being pretty much a section of the 103.75 resistance. Was wary of taking longs off the trendline as there didn't seem much room for it to go above, not that that's bad per say, but I didn't think the reward was worth the risk.
We broke the pseudo level above, and then shot straight down, I got short at 103.2, stop above the high, and we didn't really go anywhere in the end, some pseudo lines drawn, but nothing happy to trade without a nice setup (which I didn't see). Got out at 103.59 (I know these levels don't seem to be hit at the arrows, it's due to the spread).
Short 103.2-103.6
-$204.14
Total:
-$204.14
So, done the 25 days Pulsar would require, will post up some stuff on it in a bit.