Magpie Trader
Wednesday, July 18, 2007
Back...
It's been a while hasn't it. I took a sabatical from forums and other traders to take stock (scuse the pun). Although I was doing ok, chucking the job in wasn't happening, and personal stuff was making it impossible - also the way I traded I discovered... didn't fit my lifestyle. So, it was time to take a break.
New and good things occurred and are occurring, my style of trading has changed considerably after taking time out and analysing goals and time available. I'm more than happy with the way things are going now. Chucking the job in is still on, but it had to be pushed out a few months.
As time goes on this blog will be attached to www.nzisus.com, a new venture that is being planned.
Good luck to all, and thanks for the all the emails of support and questions as to where the heck I'd got to! You know who you are and it's much appreciated!
New and good things occurred and are occurring, my style of trading has changed considerably after taking time out and analysing goals and time available. I'm more than happy with the way things are going now. Chucking the job in is still on, but it had to be pushed out a few months.
As time goes on this blog will be attached to www.nzisus.com, a new venture that is being planned.
Good luck to all, and thanks for the all the emails of support and questions as to where the heck I'd got to! You know who you are and it's much appreciated!
Friday, July 07, 2006
True
"Well, I think the leading cause of financial disablement is the belief that you can rely on the experts to help you. It might, if you know the right expert. For example, if you happen to be Paul Tudor Jones' barber, and he is talking about the market, it might not be a bad idea to listen. Typically, however, these so-called "experts" are not traders. Your average broker couldn't be a trader in a million years. More money is lost listening to brokers than any other way. Trading requires an intense personal involvement. You have to do your own homework, and that is what I advise people to do. (Michael Marcus, from the book Market Wizards, by Jack D. Schwarger) "
Thursday, December 01, 2005
9th May 06 (new tack - back again....)
Many thanks for the comments and those wondering where I'd gone. I don't actually use Skype or MSN much especially when trading as I find it distracting, however any comments or questions I'll try and answer by email or on this blog as best I can.
For various reasons, plus enforced time off, the new tack blog fell by the wayside. What I have been doing is trading when possible... reading a lot and working on the psychology of myself and being disciplined as this has been the major problem for me and has cost too many pips.
Threads that will give you an insight into the way I trade now are below, I primarily take signals off the 4HR chart now and greatly prefer the much reduced screen time involved.
There's some excellent traders out there and they freely share their knowledge on these threads. Whether a novice or expert, you'll definitely learn something either way.
http://www.moneytec.com/forums/f46/fibs-journey-easy-kisses-tasteful-butterflies-15089/page60.html
http://www.forex-tsd.com/suggestions-trading-systems/1093-harmonic-trading.html
http://www.strategybuilderfx.com/forums/showthread.php?p=157949#post157949 - MikeFX and Shellcon especially have helped me a great deal here.
Books I'd recommend are:
Currently short eurusd from 2724, SL 2775, looking for 2600...
For various reasons, plus enforced time off, the new tack blog fell by the wayside. What I have been doing is trading when possible... reading a lot and working on the psychology of myself and being disciplined as this has been the major problem for me and has cost too many pips.
Threads that will give you an insight into the way I trade now are below, I primarily take signals off the 4HR chart now and greatly prefer the much reduced screen time involved.
There's some excellent traders out there and they freely share their knowledge on these threads. Whether a novice or expert, you'll definitely learn something either way.
http://www.moneytec.com/forums/f46/fibs-journey-easy-kisses-tasteful-butterflies-15089/page60.html
http://www.forex-tsd.com/suggestions-trading-systems/1093-harmonic-trading.html
http://www.strategybuilderfx.com/forums/showthread.php?p=157949#post157949 - MikeFX and Shellcon especially have helped me a great deal here.
Books I'd recommend are:
- everything written by Patrick Mikula
- all Larry Pesavento's books
- Mark Douglas
- Bryce Gilmore
- Scott Carney
- Gann
Currently short eurusd from 2724, SL 2775, looking for 2600...
Tuesday, November 22, 2005
21/11/05
Short cable 1.1767, closed at 1.1785. Sold the dummy/head fake quite convincingly.
-36
Long cable 1.1805 closed on a limit at 1.1831
+52
+16 on the day
-36
Long cable 1.1805 closed on a limit at 1.1831
+52
+16 on the day
Friday, November 18, 2005
WE 18/11/05
Thursday, November 17, 2005
16/11/05
Short cable 1.7341 SL 1.7671
edit: SL moved to 1.7315, decided not to take half of original entry
SL moved to 1.7215 this morning
(+252 locked in)
edit2: Stopped out
edit: SL moved to 1.7315, decided not to take half of original entry
SL moved to 1.7215 this morning
(+252 locked in)
edit2: Stopped out
Tuesday, November 15, 2005
WE 11th Nov
WE 4th Nov
14/11/05
The cable limit on Friday was triggered, but it failed quite spectacularily, moved SL to breakeven +1 and left it.
+1
Monday:
Went long cable 1.7452 x 2 thinking this could be the promised rise to the heavens for christmas and closed at 1.7465.
+26
Shorted again at 1.7463, took half on a limit at 1.7448 and left the rest to run with SL at BE +1 as it made a C down, left an exit limit at 1.7355 as a double bottom seemed likely and went to bed. Nice way to wake up in the morning.
+15
+108
The COT data is still saying the big boys (and girls) are long. The range is 1.7350 to 1.7500 so will be looking to play that until there's a concerted move in either direction - presumaeably north, but you never know for sure.
+1
Monday:
Went long cable 1.7452 x 2 thinking this could be the promised rise to the heavens for christmas and closed at 1.7465.
+26
Shorted again at 1.7463, took half on a limit at 1.7448 and left the rest to run with SL at BE +1 as it made a C down, left an exit limit at 1.7355 as a double bottom seemed likely and went to bed. Nice way to wake up in the morning.
+15
+108
The COT data is still saying the big boys (and girls) are long. The range is 1.7350 to 1.7500 so will be looking to play that until there's a concerted move in either direction - presumaeably north, but you never know for sure.
