Eclectic

Out of March Sugar here at .1008. I will tally up later today or tomorrow. Basically the action on Friday was not friendly to my position and when looking at the weekly, the uptrend is not as developing the way I would like it to. In other words, I am in a state of "don't know", so I am getting out for a very small profit.

Still long the Yen futures, which are not performinig positively for me yet, but have promise long term.
 
Quote from Sponger:

What's to stop you from re-entering your cotton and currency trades..........
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Nothing , but I don't want to chase here. I'll forego getting back in in order to honor my rule about not chasing. In addition, the Euro especially may be near a short term top here.
 
Quote from Sponger:

Thanks for the explanation B1S2. Do you feel that oil would be chasing too?
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I do. Sometimes it would be good to chase, but I just don't do it.
 
Quote from JSSPMK:

4 hour + daily charts on Cocoa might be to your liking.
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Cocoa is without a doubt in a very long term extended uptrend. Powerful in my view.
 
Attention: The Japanese Yen is, in my view, in the very beginning stages of a very long term strong uptrend versus the USD. I am in long and look to remain that way for quite a while. If I am wrong, I trust that I will lose a little instead of a lot. That is what trading is about--:)

Here at 9:32 AM EST also looks to be a good intraday long trade.

All of the other majors continue their uptrends against the USD. Until reversals occur, which they always do, it would not be prudent to be short unless trading very very short term for smaller type gains.
 
The longer term Sugar charts are not as convincing on the long side as I would like. I believe that I was correct to exit the long Sugar position and wait on the sidelines for a better time. Cotton is also in no mans land here without any real conviction. I will still look from the long side for now, but will remain on the sidelines until a time of my choosing. :)
 
Update on Banked Journal Trades:

ES +41.5 points ---4 trades 3 winners
NQ +144.75 points---1 trade 1 winner
Sugar +47 ticks---2 trades 2 winners
Aussie Dollar Futures +184 pips 2 trades/ 2 winners
British Pound Futures +236 pips 1 trade 1 winner
Euro FX Futures +387 pips 3 trades 2 winners
Heating Oil + 460 ticks 2 trades/1 winner
Swiss Franc +44 pips 2 trades/1 winner
Canadian Dollar Futures +483 pips 2 trades/1 winner
Japanese Yen Futures +96 pips 1 trade/1 winner
Cotton Futures +406 ticks 1 trade/1winner

Current winning percentage 16/21 -------76.19%--------25 round turn commissions

I have only the Yen long position on right now from .88050. It's been a long time since I only had one market going. I know I have missed some opportunities like oil, but I just do not chase markets. Over the long haul, it is better for me to take a rest and wait for a setup.
 
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