The Wallace Trading Method

for Tuesday June 4/13 ~ 3:43pm pst

nothing much till Wednesday

Currencies: pretty well as before
aud: Buy 0.96186
eur: Buy 1.30087
gbp: Buy 1.52030
nzd: Buy 0.79736
cad: Buy 1.03715 currently -$8.94 still expecting a rally
jun4/13 chf: Buy 0.94749 maybe speculative but bounced a fibo
jpy: Sell
jun3/13 es: Sell 1632 closed $334.38
xauusd: 0.10 Sell 1387.81 if the price breaks 1421 I'll put in a Buy hedge - no cost
close the Buy wherever and enter a second Sell. currently down -$25.02
..................
cl: could be a rally's begun
ng: still looks down
.................

notes: another brilliant precious metal's trade, Sell gold at the beginning of its rally
the es trade was an o/n and still watching, observing it, checking my method works
on it but definitely missed a couple of potential large profit trades
 
for Wednesday June 5/13 ~ 2:47pm pst

a few more announcements, ADP at 8:15am est

Currencies: expecting the $ to decline but it's slowed up; it could be forming a base
with this next down leg; the remainder of the week's announcements and NFP may
influence if a base is formed or the price continues lower
aud: Buy 0.96186
eur: Buy 1.30087
gbp: Buy 1.52030
nzd: Buy 0.79736
cad: Buy 1.03715
chf: Buy 0.94749
jpy: Sell
es: maybe some upside again but overall down, looking for around 1600
xauusd: Sell 1387.81
..................
cl: down again ?
ng: small down, looks like it's forming an AB base
.................
notes: overslept yesterday, underslept today and had to take a nap, and still fighting
with the es
 
for Thursday June 6/13 ~ 3:00pm pst

I'll go for an increase in Claims 8:30am est, also the ECB announcement
new BoC Gov Stephen Poloz testifies to Finance Committee beginning 8:45am est

Currencies: no ECB rate cut expected and hopefully nothing provocative said
aud: Buy 0.96186 still holding tho thought about closing it, should have hedged it
eur: Buy 1.30087 will hold the Buy
gbp: Buy 1.52030 best performer - going to the moon
nzd: Buy 0.79736 rebounding
cad: Buy 1.03715 ho hum
chf: Buy 0.94749 maybe rebounds
jun5/13 jpy: Sell 100.237 will it drop ?
es: will be switching back to the YM as of next trade
both the ym and es hit and closed on their 50s . drops: could see 1590 broken for es
14823 for the ym if the employment numbers are below consensus
Sell 1628.75 C 1623.50 $259.38 - o/n
Buy 1624.00 C 1624.50 $21.88
Sell 1618.75 C 1617.75 $46.88
Sell 1617.25 C 1612.00 $334.38
Sell 1611.00 C 1609.25 $84.38
xauusd: Sell 1387.81 walking along side a canal
..................
cl: down again ?
ng: maybe it'll drop today
.................
notes: bit early but no nap. I'd tried a seconds chart with the 6e didn't work, now I'm
trying one with the es. started at 3 secs, yeah I know anyway then 15 and think I'll stay
with a 10 sec. thing is there's the volume to scalp the es, 6K+ contracts in one 3 sec
bar with a range of 3 ticks, impossible with the 6e. have to test using it to find out if it's
useful for personal day trading, but there's a small conflict at the moment between
trading for my own account and trading for the portfolio. the portfolio trades are by and
large supposed to be B&H, but today's trades have been day trades and the one o/n.
I'll start trading the ym for the portfolio then I won't have the conflict
starting to synch a bit better with the price, time outs for making a cuppa aside ;
 
Curious. I noticed you sold ES a couple of posts back. This is divergent with your macro comments a few weeks back on how ES was going to move significantly higher quite shortly and in the next quarter and beyond. Have you changed that point of view?
 
for Friday June 7/13 ~ 3:29pm pst

some EU, France, German reports
I'm thinking a smaller NFP number than the Consensus' 167K

Currencies: it's likely next week will see a $ retracement rally correction, so have to
decide whether to close pairs' trades Now, wait a while to see if the $ falls, or leave
it till tomorrow

aud: Buy 0.96186 recovered a lot of loss, will keep it open
eur: Buy 1.30087 keep it open
gbp: Buy 1.52030 keep it open
nzd: Buy 0.79736 C - ($63.62)
jun6/13 nzd Sell 0.79112 C -($13.14)
jun6/13 nzd Buy 0.80465 recovered some loss, will keep it open
cad: Buy 1.03715 keep it open for present
chf: Buy 0.94749 may have based - I hope, keep it open
jun5/13 jpy: Sell 100.237 C $290.46 will there be a reversal ?

ym etc, going to think in terms of a down day regardless of the NFP numbers, and
possible lower lows
jun6/13 ym: Sell 14922 C $341.88
jun6/13 ym: Buy 14915 C $131.88
jun6/13 ym: Buy 14978 C $156.88

xauusd: Sell 1387.81 same old same old
..................
cl: not a new high, set up to reverse ?
ng: hold this level or lower ?
.................
notes: TM - Trade Management still killing me, have to review it on the weekend —
have a good one
 
two sessions

for Monday June 10/13 ~ 3:29pm pst

Currencies: I'm expecting a correction/basing session that could end today or run
into tomorrow, after that, new - resumption of trends

but, my analysis of the charts could be quite incorrect. this relates to the DX and
the idea that the W looked like a possible double top meaning more downside to
come. what could occur is a rally this week and declines resumes the week after, but
an even shorter period of say 2 up days then the decline begins - CAUTION !

aud: Sell 0.94905 previous 0.93871 LL Oct/11 is the break down point
eur: Sell 1.32177 this 'correction' begun a year ago appears to be complete
gbp: Sell 1.55479 the U turn reversal is now complete, decline begins
nzd: Sell 0.79262 H&S on the M, decline
cad: Buy 1.02261 could drop to 1.016 will hold the Buy
chf: Buy 0.94749 could drop to 0.92 will hold the Buy
jpy: will Buy this session or next, around 95

es: same as the pairs, correction lasting this session possibly into tomorrow's
low ? guessing, 1619-16 ? regardless - a Buy - CAUTION !

gc: Sell 1387.81 profit ! tests the lows, and creates new ones ?
..................
cl: will it pop the top this time ?
ng: lower still ? 3.70 area ?
.................
notes: rain Sun rain Sun rain sun


Trading Margin ROI ~ trades from May 31/13 to Friday June 7 Close
includes closed and current open trades, adjusted running profit or loss

. . . . . . . . . . . . . . . profit / loss . . . . roi % . . . margin
aud . . . . . . . . . . . -($132.67) . . . . -41.37 . . .$320.62
eur . . . . . . . . . . . . $231.70 . . . . . .53.43 . . .$433.62
gbp . . . . . . . . . . . .$339.79 . . . . . .67.05 . . .$506.77
nzd . . . . . . . . . . . -($56.38) . . . . . -21.21 . . . $265.79
cad . . . . . . . . . . .-($22.22) . . . . . -6.42 . . . . $345.72
chf . . . . . . . . . . . .-($13.01) . . . . .-4.11 . . . . $315.83
jpy . . . . . . . . . . . . $294.60 . . . . . .71.44 . . . $412.33
7 pairs . . . . . . . . $641.72 . . . . . .24.67 . . . $2,600.68
gold . . . . . . . . . . .$4.41 . . . . . . . . 0.63 . . . . $693.91
7 + gc . . . . . . . . . $646.13 . . . . . .19.61 . . . $3,294.59
es . . . . . . . . . . . . $1,306.28 . . . . 33.92 . . . $3,850.00
ym . . . . . . . . . . . .$1,000.52 . . . . 36.38 . . . $2,750.00
7gc es . . . . . . . . $1,952.41 . . . . 27.32 . . . $7,144.59
7 gc ym . . . . . . . $1,646.65 . . . . 27.44 . . . $6,044.59
7 gc es ym . . . . $2,952.93 . . . . 44.77 . . . $6,594.59 es + ym margins / 2 = $3,300
either the es or ym were traded but not both at the same time

roi of es ym day trading margins
es . . . . . . . . . . . $1,306.28 . . . . 326.57 . . . $400
ym . . . . . . . . . . .$1,000.52 . . . . 200.10 . . . $500
es ym . . . . . . . .$2,306.80 . . . . 512.62 . . . $450 es + ym margins / 2 = $450
either the es or ym were traded but not both at the same time
 
for Tuesday June 11/13 ~ 3:30pm pst

Currencies: All: have to wait thru the session to see if the turn comes, otherwise I'm
going to be having a lot of losses

aud: Sell 0.94905
eur: Sell 1.32177
gbp: Sell 1.55479
nzd: Sell 0.79262
cad: Buy 1.02261
chf: Buy 0.94749
jpy: will Buy around 95 IF it gets that low

es: bit surprised the price rallied again, think it's turned and on the way down
missed entering a Sell at the H, will try again

gc: Sell 1387.81 looks like its correction's complete and heading down
..................
cl: correction before rallying higher or . . . down again ?
ng: heading to 3.6 ?
.................
notes: . . .
 
for Wednesday June 12/13 ~ 4:22pm pst

Currencies: the $ Has to rally this session or it's going to drop a lot further
the $ could form a reversal correction now for a few days but then continue down
but I don't think the $ can go any longer without turning IF it's going to set new highs
aud: Sell 0.94905
eur: Sell 1.32177
gbp: Sell 1.55479
nzd: Sell 0.79262
cad: Buy 1.02261
chf: Buy 0.94749
June 11 jpy: Buy 96.046

es: could base here and rally, but the D formation looks like the price is going to
drop down to last Thursday's L, and probably spend the rest of the week doing that
and the price could just drop from here
jun 11 Sell ES 1641.75 C $746.88
jun 11 Buy ES 1623.50 C $571.88
jun 11 Buy 2 ES 1626.75 C $193.76

gc: Sell 1387.81 turning down again
..................
cl: down again I think
ng: still looking for 3.6
.................
notes: I took profit too early on the o/n trade, and too late on the day trades, 'losing'
several hundreds of $s. in both day trades I was doing something else on the computer
instead of watching the price. had I been paying attention I could probably have put
reverse trades on, so that's additional monies missed
thing about taking profit is one can always enter the market again
 
for Thursday June 13/13 ~ 3:25pm pst

Currencies: euro closed just below its major 61 retracement; as well this week is a
major Time Target for me
the $ appears to have stopped going down, we'll see. if as said a rally follows it may
only be a retracement correction and once complete more downside and lower lows
will follow. if that's the case I'll hedge the pairs, and when - if the $ downside stops
enter a second B-S in all the pairs except the jpy

aud: Sell 0.94905
eur: Sell 1.32177
gbp: Sell 1.55479
nzd: Sell 0.79262
cad: Buy 1.02261
chf: Buy 0.94749
jpy: Buy 96.046

es: a rally ? then decline to the Claims: lower L than last Thur ??? base ?
then a new rally ? or rallies Friday ?
jun 12 Sell 2 ES 1633.00 C $168.76
jun 12 Sell 2 ES 1630.75 C $618.76
jun 12 Sell 2 ES 1626.25 C $718.76
jun 12 Sell 2 ES 1616.75 C $93.76
jun 12 Buy 2 ES 1613.50 C $143.76

gc: Sell 1387.81
..................
cl: still think it'll drop
ng: still looking for 3.6
.................
notes: just started using a 30 min chart on the es, a tf I've never used before
quite like it. more definition to the price waves, sort of a relaxed tf and speedier
of course than the 60
 
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