About this blog:

CURRENT MARKET TREND: Up 5/27/16 @ 2090
Stop-loss 2026






Sunday, November 20, 2011

First Trade

Long Cable (GBP/USD) @ 1.57500  - 800,000
Money at risk 25K
SL - 1.57000
TP - 1.62
Risk/Reward .005/.048 = .0800

Most Lost = 4000
Most Gained = 38,400

The 100K Trading Challenge

I know I haven't updated my real trade log since last year, but I'm sure those results still speak to my trading record. Now I am going to test a new venture seeing how long it takes me to DOUBLE a 100K trading account. First, I have a little bit of an advantage since forex markets give 50:1 margin, lower than the 100 before the Dodd-Frank Act, dirty buggers, but still an advantage to the 2:1 margin for equities. Second, I urge you to post your own trades based on any monetary value account and beat me to increasing your funds by 100%. Game on!

This account will obviously take on more risk than I usually assume! DO NOT trade on these recommendations. Falling knives are generally harmful to ones health. My general risk is between 7-10% of my overall account value. These trades will risk 30-45% of my total account value. Risking this much of ones account is not acceptable under any conditions, so I must repeat, please do not follow these trades unless you're willing to risk your account.


Peace,

Jim

Sunday, November 13, 2011

Short EUR/USD

I'm short EUR/USD from 1.38067 with 1.382000 stop-loss. Got the gap up open I was expecting.

Saturday, November 5, 2011

Not Entirely Bearish

I've been watching some setups on the EUR and AUD and they are telling me there's more left in this bull run. Both are highly correlated to equity prices. Behold THE CHARTS!

AUD/JPY looks like it's putting in a consolidation before the last push higher in what would be a 5 wave C wave up. Targets for e of B and C are on the chart.

Similarly, under this count, EUR/USD has room to test 1.39300 with possibility of reaching over 1.40. I will be keeping an eye on these charts Sunday night to see what they are saying.

I am not talking my book here since I'm short 500K EUR from 1.38800 and have IWM puts.

Peace,

Jim