Cornix's Forex Trading Journal

Quote from cornixforex:

Poor day for trade setups for me today...
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Thanks :)
Agreed a bit sloooooooooow

US has (some) news @ 15:00 GMT .... right now with EU concerns any news is watched VERY closely

Japanese Finance Minister Yoshihio Noda shook thigs up a bit but ... that fizzled out (until later I think) ........ I was looking for that push to 1.2980 yesterday ...... but traders didn't take the bait !!

I'm expecting another tag of 1.2900 before a move up through 1.2950

Since the spike to 1.2990 a tag of 1.2900 may carry a bit to the down side .... MAYBE even 1.2850 (but I doubt that deep... unless ... combined with news)

I have a range of 1.2940-45 on the upside and 1,2919-17 on the downside of course the 40's COULD carry to 60 and the teens to even .... and actually get something going :eek:

PS.. I trade the 6E futures

Good luck comrade
 
Quote from cornixforex:

Poor day for trade setups for me today...
More...

Nasty night for me also...missed by a TICK....finished up chopped...max'd d/d limit so had to cut...fortunate as did not improve until 2 trades later...

nasty...nasty...

NiN
 
Quote from cornixforex:

If i had to pay significant commission I would probably be more picky with the trades of course, taking mostly those, which have enough momentum to protect at least +1 tick and thus cover the deal costs.
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By not "taking mostly those, which have enough momentum to protect at least +1 tick and thus cover the deal costs. " Or to quantify further, "the most productive trade setups" you are showing a lack of discipline. Just because you pay low commissions does not give license to take whatever comes along. Keep this up, and you will hurt yourself because you are learning bad habits.

The Ever Trying to Help And Not Looking For A Fight VIPER
 
Quote from TradeViper:

By not "taking mostly those, which have enough momentum to protect at least +1 tick and thus cover the deal costs. " Or to quantify further, "the most productive trade setups" you are showing a lack of discipline. Just because you pay low commissions does not give license to take whatever comes along. Keep this up, and you will hurt yourself because you are learning bad habits.

The Ever Trying to Help And Not Looking For A Fight VIPER
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I have two points related to the said above:

1) I do not take everything that comes along, only what I know has the edge. And using the fact of low trade costs to benefit from it is not the lack of discipline in my view. I take all I can from the conditions I am in. If the conditions were different, I would adapt to them and trade differently.

If tomorrow they come out with FTT which would kill day trading completely, I will not bite my nails, but simply switch to swing/position trades. :)

2) It is hard to say if I am learning bad habits, cause I would not say that I at all am "learning". I do it for a few years already and so far taking many trades hurts much less than not taking them... We learn every day and every second of our life of course, but that is a bit different, phylosophical question...
 
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