Fx futures Journal

Quote from optioncoach:

Covered half Pound short at 8636 which is 97 pips from original entry at 8743.

Still have the other short I entered into at 8670 running...
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This is a pretty darn good trade --:)
 
Quote from optioncoach:

lol ok... all you need to know is short entry again at 8655.... :)
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Bold!

You mean .8555 right?

I think that selling on significant break of .8553 might offer better results. However you do have the wind at your back right now on the 240 chart. :)
 
Quote from Buy1Sell2:

Bold!

You mean .8555 right?

I think that selling on significant break of .8553 might offer better results. However you do have the wind at your back right now on the 240 chart. :)
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Sorry Coach, I was looking at the Yen Chart since you didn't have the 1 in front of the numbers.

Looking at the Pound chart, the 240 is still at your back-

By the way, what I said about the Yen and.8553 still holds--
 
Yeah sorry, I mean I added to my short Pound position at 1.8655. Gonna try and hold though next week if we have some more downside.

Quote from Buy1Sell2:

Sorry Coach, I was looking at the Yen Chart since you didn't have the 1 in front of the numbers.

Looking at the Pound chart, the 240 is still at your back-

By the way, what I said about the Yen and.8553 still holds--
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I covered my Pound shorts at 1.8674. I think we might get some pullback/retracement after 4 long red candle down days. I will look for a new re-entry point.

If I am wrong and we keep moving lower I at least grabbed over 100 pips or so. I might still find a new entry point.

EDIT: Pound down to 8659 so I may be wrong about a retracement but we will see how it goes into the morning.
 
Pound certainly due for a retracement. In a strong trend, the retracements are much less, Trailing stop is probably the best, but if your system is a profit target system, then you must wait and take new signals.
 
I also wanted to roll to December with the new entry. Opening tonight seemed light to down so i entered a new short on the DEC Pound contract at 1.8666 (Devil Trade :eek: lol).

So the unintended end result is that I basically took my profits on the SEP futures and entered a new position on the DEC one.

New Profit target is 8100 which is projected combination of JUNE lows and 200 day MA.

Appropriate stop right now would be around 100 pips based on some resistance I see in the charts.

Quote from Buy1Sell2:

Pound certainly due for a retracement. In a strong trend, the retracements are much less, Trailing stop is probably the best, but if your system is a profit target system, then you must wait and take new signals.
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You make an excellent point and that is what I am trying to reconcile, taking profits and looking for re-entries on pullbacks or simply trail the move and ride it as far as the stop will take me.

Quote from Buy1Sell2:

Pound certainly due for a retracement. In a strong trend, the retracements are much less, Trailing stop is probably the best, but if your system is a profit target system, then you must wait and take new signals.
More...
 
Quote from optioncoach:

I also wanted to roll to December with the new entry. Opening tonight seemed light to down so i entered a new short on the DEC Pound contract at 1.8666 (Devil Trade :eek: lol).

So the unintended end result is that I basically took my profits on the SEP futures and entered a new position on the DEC one.

New Profit target is 8100 which is projected combination of JUNE lows and 200 day MA.

Appropriate stop right now would be around 100 pips based on some resistance I see in the charts.
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Yes--I see the stop above 1.8777 basis Dec.
 
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