Waiting for Ben to get his words out before my next Profile Update.
Real Forex Trades
- Thread starter RealForexTrades
- Start date
Closed 3/19/06 to 3/20/06 at 2156.
Next profile pending Benspeak.
Next profile pending Benspeak.
Observations and Trade Profile Updates:
Waiting for Benspeak to unfold completely. Seems nominal at this time â most likely due to the timing of his speech after the close of the US markets and before the European session. Not sure whether or not Asia will pick up on anything he says â but if so, whatever comes out his late afternoon speech will most likely have a delayed effect on the EURUSD which should set-up the profiles below fairly well.
As you can see, there are now two (2) Day Trades. A First and a Second. The Long is not yet active while the Short is now pending. I will need to update in real-time as the system changes is signals.
24hrs - From 3/20/06 to 3/21/06:
First Day Trade
Long
Entry 2161
Limit 2175
Stop None
Inactive
24hrs - From 3/20/06 to 3/21/06:
Second Day Trade
Sort
Entry 2176
Limit 2116
Stop 2219
Pending
120hrs â From 3/19/06 to 3/24/06:
Swing
Short
Entry 2175
Limit 1979
Stop 2251
Active
480hrs â From 3/1/06 to 3/30/06:
Position
Long
Entry 1931
Limit 2378
Stop 1856
Closed (already closed for 254 pips at 2185)
Waiting for Benspeak to unfold completely. Seems nominal at this time â most likely due to the timing of his speech after the close of the US markets and before the European session. Not sure whether or not Asia will pick up on anything he says â but if so, whatever comes out his late afternoon speech will most likely have a delayed effect on the EURUSD which should set-up the profiles below fairly well.
As you can see, there are now two (2) Day Trades. A First and a Second. The Long is not yet active while the Short is now pending. I will need to update in real-time as the system changes is signals.
24hrs - From 3/20/06 to 3/21/06:
First Day Trade
Long
Entry 2161
Limit 2175
Stop None
Inactive
24hrs - From 3/20/06 to 3/21/06:
Second Day Trade
Sort
Entry 2176
Limit 2116
Stop 2219
Pending
120hrs â From 3/19/06 to 3/24/06:
Swing
Short
Entry 2175
Limit 1979
Stop 2251
Active
480hrs â From 3/1/06 to 3/30/06:
Position
Long
Entry 1931
Limit 2378
Stop 1856
Closed (already closed for 254 pips at 2185)
No. The Secondary Trade is still "Pending" and the First Day Trade is "Inactive". There is no trade on right now in this journal. I donât knowingly trade news. Can you point to some specifics about what was late? Like actually numbers and times and dates?
If you ever done a trade journal and tried to post profiles with the level of detail that you see in mine during a News Conference by the US Fed Chairman, the you will know that you cannot post, watch the news, pay attention to prices and type into a trading platform all at the same time. Something is going to get missed.
My system update's at 7:00pm Eastern each day. If there is news - I don't trade unless I have 1000% understanding of where the news will take my position. I can always re-enter a Trade Profile after all the news players are done filling up their boats.
You have to actually read the post and see the "detail" inside the profile. There are Active Trades, Inactive Trades, and Pending Trades.
The Position Trade was already discussed earlier in the journal - I did not come here on the first of the Month, and you have to read the first few posts of mine in order to determine the timing of each Profile, so you know when they are valid and when they are invalid.
I don't late profiles, unless they conflict with my job which is trading real accounts. The posts are secondary at best; getting my orders in on time through my trading platform is of primary importance. I actually trade the markets â Iâm not a demo trader, so I cannot afford to allow any distractions.
So, dates, times, amounts, time you refreshed your browser, etc., â some evidence would be helpful if you have a question about timing of a post.
Second and First Day Trade Notes for 3/20/06 to 3/21/06:
Looks like the Benspeak had some delayed impact just as expected. But, since the timing of his speech was post US market close and pre-European session, the EURUSD saw a 33 pips spike between the system update time of 7:00pm Eastern and the first two 15 minute bars. His speech at 7:00pm Eastern was exactly during the time that my system is updating itself.
Now, that the spike has slightly dissipated given the fairly neutral statements by Ben (leaning towards the possibility of having to slow down a strong US economy at some time down the road), I can turn my attention to a possible re-test of a valid system Entry point. So, given the dynamics of the fizzling news and the impact it seemed to have to intra-major-session traders, I would look for a return to a price point somewhere between my Open price of 2161 and my Secondary Day Trade Entry point of 2175. Iâd be happy with an Entry into the Short position from anywhere inside that range. Iâm going to hang out for a while and see if that range gets triggered again. I think that had there been no news (mildly hawkish) then there would have been a more pronounced move that would have allowed the First Day Trade Long to go Active with a nice entry into the Second Day Trade Short from the 2175 level. But, there is always more than one way to skin a cat, so Iâll wait for the pull up before the continued bear move down.
The Swing signal is still Short as expected and has increased its probability to 96.69% for the Weekly target â while the Short Day Trade for this daily session comes in at 76.41% probability. So, the only question here will be the timing of this entry after a small news spike throwing off the move at the open.
A great example of why I donât do news.
Looks like the Benspeak had some delayed impact just as expected. But, since the timing of his speech was post US market close and pre-European session, the EURUSD saw a 33 pips spike between the system update time of 7:00pm Eastern and the first two 15 minute bars. His speech at 7:00pm Eastern was exactly during the time that my system is updating itself.
Now, that the spike has slightly dissipated given the fairly neutral statements by Ben (leaning towards the possibility of having to slow down a strong US economy at some time down the road), I can turn my attention to a possible re-test of a valid system Entry point. So, given the dynamics of the fizzling news and the impact it seemed to have to intra-major-session traders, I would look for a return to a price point somewhere between my Open price of 2161 and my Secondary Day Trade Entry point of 2175. Iâd be happy with an Entry into the Short position from anywhere inside that range. Iâm going to hang out for a while and see if that range gets triggered again. I think that had there been no news (mildly hawkish) then there would have been a more pronounced move that would have allowed the First Day Trade Long to go Active with a nice entry into the Second Day Trade Short from the 2175 level. But, there is always more than one way to skin a cat, so Iâll wait for the pull up before the continued bear move down.
The Swing signal is still Short as expected and has increased its probability to 96.69% for the Weekly target â while the Short Day Trade for this daily session comes in at 76.41% probability. So, the only question here will be the timing of this entry after a small news spike throwing off the move at the open.
A great example of why I donât do news.
Give me a break - are you serious?
You mean that you canât open your eyes long enough to see that these Trade Profiles come with three (3) independent set-ups and that I clearly told you in an earlier post that the Position Trade Profile had ALREADY BEEN CLOSED and was not being considered. It comes along with the entire package/profile/format. It is a three (3) pronged Trade Profile.
You saw the date was March 1st, 2006. You saw me tell you that I was posting as part of the way I post profiles. You also saw me tell you that it was NOT VALID. It is a âprofileâ. It sits in the same Word Document along with the other four (4). Iâm not going to cut and paste the thing in and out because that wonât help you read better.
If I came in here talking about the Position Trade and how glorious it was, THEN you have something to complain about. You were told not to consider it. Of course, it is after the fact, because the journal was started until a couple days ago. Is there anybody on the planet actually confused about that? I seriously doubt it especially when I gave you ample warning that it was âpart ofâ the format and that it would not be VALID until next month April, 2006.
You have to read what is actually being posted.
Funny how you wasted all your energy focusing on a trade that was told to be invalid, yet you ignored the two that were âActiveâ. Were those two late as well, or were they right on-time?
This trading system covers âmultiple time-framesâ, ok. I made that clear from the start. I outlined what a Day trade meant in this system. I outlined what a Swing trade meant in this system and out outlined what a Position trade meant in this system. I gave time-frames right down to the hour for you so you would not be confused about anything. I gave you the starting point for each type of trade within the overall profile, so that there would be no confusion. I gave you the time of day that the system updates and I told you that it happens every 24 hours. I told you that the entire system was dynamic and functions in real-time and that the Stops and Limit Exit orders change dynamically as the trade progresses and that I would make updates to the profiles in real-time as my personal time permitted.
Now, exactly how much of this information did you miss? And, why are you not discussing the trades that were/are actually âActiveâ. Inactive means, inactive. Pending means, pending. Active means, active. I donât know how to make it more basic than that. These are some of the easiest profiles in the world to read.
You get:
Date Range and Time Range
Trade Type
Entry
Limit
Stop
Status
(All updated at 7pm Eastern time, with periodic updates between each 24hr session when I have time to do them.)
What more could one ever need.
Someone needs to grow up 