Financial Freedom Day Trading Journal

Money Trust said:
Thanks.
That’s one of those things that I’ve believed but never internalized that belief enough to apply it. No more excuses, no more punking out, etc., especially since I’ve taught a couple of traders what I’ve learned and they went on to make a million while I’ve been holding myself back.
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MacHo doesn't trade. Do not listen to anything he/she says.

You want to see what a real journal is like over 5 1/2 years? Look right here. This is it.

https://www.elitetrader.com/et/threads/and-they-have-a-plan-live.306838/

No-holds-barred. That's it. That is the shit. There's a song for it. Forget all these other fakers who claim they know what they are on about, because they do not put up and show up with real monies? They are pointless.

 
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Let's get it started.

I'm looking at shorting Micro Copper (MHG) should it return to 3.425. If I don't get the retracement, I'll be looking for the breakdown. My target would be the 3.296 area with a stop that would mean 1% risk on the trade. If I'm correct, then I'm looking at a 1:12 risk/reward ratio. I'm not gonna treat this one as a day trade unless it manages to reach my target within the same day.
 
I'm also looking at shorting the GBP/USD at around 1.121 should it reach that level. Because that level is kind of the top of the move, I'll take a smaller position size and risk only 0.5%. However, I expect to see this pair fall several hundred pips if I'm correct. I am hesitant about this one because I see corrective action occurring on the dollar but I can't NOT take a shot at it...but in a small way.
 
Copper is down on the weekly
Current range is 3.7 - 3.2
It’s also down on the daily
Current range is 3.6 - 3.2

I think it can go higher on the daily: 3.5
Would be a nice short to catch the reversal,
To 3.2 and below if it continues its move lower.
 
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Money Trust said:
...especially since I’ve taught a couple of traders what I’ve learned and they went on to make a million while I’ve been holding myself back.
More...

Wait a minute. You've taught a few traders who made a million bucks under your guidance?

You just set the bar really high with this journal. :)
 
My copper short never triggered but I did short EUR/USD at 0.9830. I'm still holding on to this one. If it can clear the 0.974 area, then I'll hold until 0.954. My risk on the trade was 15 pips and I'm now up 60+ pips — stop loss moved to breakeven.
 
Closed out EURUSD short at around 0.976. Price respected that support area a bit too much.

No longer looking for a copper short since I don't like the price action that I saw before price reached my entry.
 
You are trading, or attempting to understand, too many markets.
You need to Pick one. And be a Master at it. And go all-in in it, with leverage/options. And trade it boldly for growth and compounding.
 
Yesterday's Action:

Shorted USD/JPY from 144.82
10-pip stop
Closed the trade at around 143.9
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Shorted AUD/USD from .06513
Stopped out at .06525
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Re-entered my AUD/USD short from 0.6516
15-pip stop
Price is currently around 0.6440
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No new plays this morning.
 
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