I love the greenback...2008

Quote from Buy1Sell2:

I'm not short the dollar index right now. Currently I am short the British Pound versus the USD.
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So....you`re bullish on the $? :D

FYI, the charts dont mean anything to me for this trade. This is sentiment and cycle based. Just posting the dailys for visual affect.
 
Posted way too much hot air today. My time is better spent drawing trendlines that do not work.

Done for today. I feel that if I put any more on it will be a churn fest. $500.70 net.
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A daily for flavor.

These 3 candles are speaking to me. I know..I know..step away from the PC and go for a walk.
They are conflicting. Lower high shadows up top...rounding shadows on the bottom. This could very well be a continuation pattern and we go lower. BUT, I feel if todays low holds, which is close to two days ago lows we could have a very nice up day Monday or early in the week. Then the nameless 3 candle pattern becomes compressed volty (rocket fuel) and a new higher low on a short daily time frame. If not we go lower (just hedging)

I will trade what I see, not what I feel. Just pontificating = to speak or express opinions in a pompous way. YES...predicting is as pompous as one can get.

Have a great weekend!
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I got whipped out of every trade today. Every single one.

It happens...

22 turns..torn it up, results are obvious. -$402.20 NET

I trade the afternoons much better. I think for the rest of the week I will wait until 10:30 to to turn on the platform, draw some art and wait for the science to happen.

My real work is backing up anyway. :D
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Quote from indahook:

I am not good at keeping journals. Basically I have ADD when it comes to keeping anything orderly(thank goodness for electronic docs). But I do enjoy posting on ET, whether it be the occasional major market call [/B][/QUOTE] I'm with you there ...e. P.S. I love the greenback too for '08.
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Quote from indahook:
The emotional aspect of daytrading is as challenging as it gets for me.
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This is only an obvious point. But the accuracy and reliability of your methodology is the key to emotional strain appearing or not appearing.

Assuming a liquid futures market is being used (eg CL, YM), your signals must be precise (each time you turn around your position) and you must be able to depend upon their reliability (again assuming you are taking on each upswing & each downswing as they follow each other). There is then no overriding emotional challenge to get in your way.
 
Quote from Champion:

This is only an obvious point. But the accuracy and reliability of your methodology is the key to emotional strain appearing or not appearing.

Assuming a liquid futures market is being used (eg CL, YM), your signals must be precise (each time you turn around your position) and you must be able to depend upon their reliability (again assuming you are taking on each upswing & each downswing as they follow each other). There is then no overriding emotional challenge to get in your way.
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I really do not have a methodology outside of examining the trend, watching price action and looking for hints in candles. Some days I am better than others in waiting for the good ones. That is one reason I am better late morning to afternoon. Once the bell rings it is like I hear the DING DING DING at the horsetrack and the gates open and I get the trigger finger..which usually means losses that I spend the day making up. This is my number one demon. I have gotten better at this..but it needs improvement
But if I sit on my hands..drink some coffee and occupy myself while the day unfolds a bit things just pop out at me. High reward/low risk type trades. These are the low stress days.
Now even though I dont have a system per se, one thing I am deadly serious about is R/R. Once I have entered I set OCO bracket orders with a min 3x1. Then there is nothing for me to do but sit back and let the market dictate. This is my "never break this rule" rule. And I have not broken it since I started the journal...most likely that is the only reason I have made some funny money. That and I never get married to the long or short side.

I appreciate the input Champion.

Thank you.
 
Equity curve since day 1. With linear average and a 5 day simple. I will use a cross of the simple as a yellow light to trade lighter and use less contracts. The linear is projected out a day.
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Super clean breakout on nice volume. Scaled a buy of 2 at 1352.88avg..sld em @ 1359.62avg

I am sure that I will regret not holding these the entire day. But I have things to attend to and cannot give my full attention to the action. 90% sure we trend higher today and test the 1371 figure.

Done for the day...$665.80 NET
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Apologies for the big ass excel shot...posted last night while tired and forgot to reformat it.
 
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