Ferrowolf's Trading Den

Some trades taken last week and today.

Ferrowolf — Mon, 26 Jul 2010 15:13:09 +0000

Wow, many developments since my last post!
The latest of which, is that I’ve injured my back while helping to move a huge ass 42″ CRT TV to my grandma’s place.. it wouldn’t even fit in the trunk of the car!
Carried it here and there, the final hurdle was to carry it down 2 floors by myself! After that my back just gave up on me. lol
It usually takes about a week to heal, but this injury hurt a lot more than any others I’ve experienced.
So today I went to see a chinese physician. And well, he basically fast tracked that painful 1 week healing process into 30 minutes… of pure agony! It’s like all the pain of a week had been squeezed into those 30 minutes!
I must admit that I do feel better now.. some 5 hours after the visit. And he recommends that I see him again on friday.. o.O
Should I?

Anyway, description of the trades on the charts.

On tuesday, price made a run up and broke 1.3000 briefly, clearly a stophunting expedition.
So on Wednesday I was waiting for price to make a run up to 1.2930s for a retest, but that didn’t happen, so I had to get in at a couple of levels under 1.2900. Total risk never exceeded 2%.
Squeezed out an average of +65 pips and +85 pips for a total of +150 pips.

Today I was simply selling resistance, small plays.
The first was a mistake, ibfx moved to a 5 decimal system, so if I wanted to input the value for taking partial profit at 40 pips, it actually has to be put in as 400 pips.
I forgot that, so ended up taking half profit at +4 pips and moving the stop to breakeven. =.=
So I re-established my short at 1.29425, took half profit at +28 pips, stopped out at breakeven while I was at the chinese physician. zz
Grabbed only +16 pips today.

Need a mobile trading platform.. waiting for the iPhone 4 to come out.. zz
I’m actually not going to use it for taking pictures, watching movies or listening to music.
I’m just gonna use it for trading since Dukascopy does have a charting platform for iPhone.
So the iPhone 3GS 8Gb or iPhone 4 would both serve me equally well.
I’ve decided to let price choose for me, I’ll see if my mobile plan will let me get the iphone 4 for the same price as the 3GS!

Btw, check out the EURJPY, interesting eh?

Trades taken 14th and 15th July

Ferrowolf — Thu, 15 Jul 2010 14:48:58 +0000

Descriptions on the charts.

Will be out and about from lunch tomorrow, so I think this might be my last trade for the week.
rough month, I’m only up slightly over 2% at the moment, gotta buck up for the next two weeks.. =)

Trades taken 12th July

Ferrowolf — Tue, 13 Jul 2010 01:41:01 +0000

I admit I’ve been getting a little slack on keeping my trading journal updated. lol
I will make an effort to be more consistent in my postings. =)
Anyway, here are the trades I took yesterday.
Nice start to the week with +135 pips =)

I notice I’ve been quite short term with my trading recently, perhaps it is because I recognise that it’s a range bound market. However, I’d still like to swing my positions more if I could.
In future if I were to manage funds, I think slightly longer term swing trading would better more suitable for the large order size.

Anyway, trade descriptions on the charts

Beautiful price action on a boring NFP day!

Ferrowolf — Sat, 03 Jul 2010 03:58:11 +0000

As mentioned in the comments a couple of posts ago (http://www.ferrowolf.com/?p=1395), I was expecting price to hit 1.2600s if the 1.2450s break.
Great price action.
I actually took a quick +5 pips very early in the early friday morning.

God knows what’ll happen next week, but I’m thinking a solid retracement back down to the 1.2400-1.2450s, then a some ranging or flagging before the next directional move.
Play the support and resistance as you see it!

Check out the chart.

EURUSD overnight disaster and redemption 1st July!

Ferrowolf — Fri, 02 Jul 2010 02:51:13 +0000

It’s unforgivable to fall asleep while trading. From now on I’m implementing a new rule, if I’m tired, I will NOT scalp!

I’m just glad the market gave me a chance for redemption.

Check out the chart.
You’ll notice that the channel has been broken, and on the hourly, there was a possible aggressive entry there.

There was no decent retracement for the entire move up, only a consolidation around the 1.2450s and again around 1.2500s during the asian session.

It’s NFP friday! Something tells me there’ll be very big moves tonight.
The previous reading was +431 and this month they’re expecting a reading of -106, that’s over a 500k difference!
I believe due to this great difference, the actual reading tonight will deviate from the expected reading by quite a lot. This would result in a lot of volatility.

So I’m playing it safe, sitting out for today.

EURUSD channel and trade

Ferrowolf — Wed, 30 Jun 2010 10:27:40 +0000

Took a trade yesterday, was a little too good to pass on.
So in June, a trip to Thailand and almost 2 weeks of reservist, amongst other projects, I’ve managed +9%.. just 1% shy of my primary target.
I might do some scalping later at night, we’ll see.

Took the EURUSD trade for various reasons, amongst which I see a lower high formed, and a target of the 50% retracement of the move up seems likely since there weren’t any other supports in the way after 2260s broke.

Right now, there’s a channel on the EURUSD 4hr.

Have a look at the charts!

EURUSD overnight trade taken on 21st June

Ferrowolf — Tue, 22 Jun 2010 14:38:14 +0000

Price seemed to have made a rejection from the highs around 1.2460s
Wanted to go short on a retracement, but I must have been exhausted because I clicked buy instead of sell!
Thankfully, it was a very small position, small risk with a large stoploss.

It was only after my shower about 2 hours later, that I realised my mistake. So I got out manually for a 30 pips loss on a very small position.
Entered long 1.2377 and closed out at 1.2347 for -30pips, equivalent tol less than -12.5 pips on a full position.
Then went short again later at 1.2377 with a full position size and a 40 pips stoploss, took half profit at 1.2338 for +39 pips and exited at 1.2326 for +61 pips, equivalent to +50 pips.
Total +37.5 pips

We will likely be heading lower, if 1.2250s break.

Hu Li Yang is coming to Singapore!

Ferrowolf — Thu, 17 Jun 2010 16:38:58 +0000

He’s Asia’s leading stock investment guru. Now I know all the stories you’ve heard about gurus. They come quickly and go as quickly. But this guy’s been around for a very very long time!

Pls note that his seminar will be conducted in Mandarin.

EURUSD 17th June

Ferrowolf — Thu, 17 Jun 2010 09:28:10 +0000

EURUSD is amazingly bullish. After breaking through the 50%, the bears lost it at the confluence of 61.8% fib retracement and the larger 38.2% fib of the entire move up.

I’ll be away until July, so this is the end of June trading.
Up about 6%. Slow trading.. but at least it’s positive.

Cya again in July! =)

BTW, I’m going to be conducting another Bollinger Bands Workshop on 3rd July!
Do drop me a comment with your email and hp number if you’re interested =)

EURUSD trade taken 16th June

Ferrowolf — Thu, 17 Jun 2010 02:54:17 +0000

I did take a few profitable small trades this week.
Didn’t have time to post them up, still don’t have time today either, so I’m just gonna squeeze in the chart.

EURUSD formed a rather gentle double top against 1.2350
So I’ve taken a swing short position right at 1.2342, with a 30 pips stoploss, half profit was taken for an equivalent of +31 pips, stoploss then moved to breakeven and I’m holding it as long as I can.
I’ve realised that holding for longer profits in counter-trend trades usually just get me stopped out at breakeven.
This time, I see multiple signs that the upside momentum is weakening and thus have conviction to hold this position longer.
Right now price is at a level of support, the 50% fib retracement level of this move up.
If we break this, we should see those 1.2170s again.
Which is where I have my target this time, 1.2182