Trying a short down under

Just opened a short on AUD/USD as this hour's low was taken out at 0.6617.

Pending order (1): Long 2113 AUD/USD at 0.6517


Current closed equity: $281.71
Current position: Short 4226 AUD/USD at 0.6617
Current exposure: 100 pips, $42.26 or 15.00%

New closing equity high!

Sure, I hate getting stopped out over $80 under where my equity had been, but such is the nature of the game. If it was easy to take, we'd all be billionaires. All in all, it was a great trade, and it's time to log it and look for the next setup.

Starting equity: $174.85
Change: +$106.86
% Change:+61.12% (Now that's Change I Can Believe In! (Screw you, Obama and followers!(and McCain too.)))

Current closed equity: $281.71
Current position: flat
Current exposure: 0

Stop moved

Moving the stop up to lock in 500 pips of the 800 this trade has produced so far.

Current open equity: $349.56
Starting equity: $174.85
Current position: Long 2428 GBP/USD at 1.5750
Current exposure: Locked in $121.40 or +69.43% of starting equity

And trade whacked already

Que sera, sera. At least it was over quickly.

Change: -$28.19
% Change: -16.12% of starting equity
To make sure this trading campaign doesn't result in losses, I'm moving the stop up to the new breakeven point at 1.5813. I will look for a new place to put on the next leg.

Current open equity: $228.79
Starting equity: $174.85
Current position: Long 2428 GBP/USD at 1.5750
Current exposure: 0

Order hit already

I'm in!


Pending order(4): Short 1410 GBP/USD at 1.6200


Current open equity: $257.16
Starting equity: $174.85
Current position: Long 5248 GBP/USD at 1.5938 (avg)
Current exposure: $15.07 or 8.62% of starting equity

So it happened an hour later

The 7am candle formed an inside bar, so I'm using that one as the setup for the next long in this pair. With the spread, I'm just going to call it an even 100 pips.

Pending order(3): Long 2820 GBP/USD at 1.6100
Pending order(4): Short 1410 GBP/USD at 1.6200
Initial stop: 1.6000
Initial exposure: 100 pips, $28.20 or 15.00% of locked in equity ($187.98)

Current open equity: $263.04
Starting equity: $174.85
Current position: Long 2428 GBP/USD at 1.5750
Current exposure: Locked in +$13.13 or +7.51% of starting equity

Stop moved

I've moved the stop up to the entry point. No sense in letting such a nice winner turn into just a breakeven. If this pair drops by 300 pips from here, it's just not the move I was looking for.
I'm looking to stack on another long here. There is an inside bar forming this hour, so this is probably a good place to do it. I will of course post the moves as they come.

Current open equity: $265.89
Starting equity: $174.85
Current position: Long 2428 GBP/USD at 1.5750
Current exposure: Locked in +$13.13 or +7.51% of starting equity

Gotta love that!

The GBP popped through my buy stop and raced right through the breakeven sell point in about 2 minutes! Can't ask for things to go much better than that. Equities are experiencing a righteous relief rally. Was that the bottom? Was it a bottom? Time will tell.

Current open equity: $190.90
Starting equity: $174.85
Current position: Long 2428 GBP/USD at 1.5750
Current exposure: 0

DIBS on the Pizz-ound!

Looking to get long this pair on the upside breakout of the inside bar just formed. Will go for some stacking as we (hopefully) work higher.

Pending order (1): Long 4856 GBP/USD at 1.5750
Pending order (2): Short 2428 GBP/USD at 1.5804
Initial stop: 1.5696
Initial exposure: 54 pips, $26.23 or 15.00%

Current closed equity: $174.85
Current position: flat
Current exposure: 0

Guess I'd rather be waiting

The trade was stopped out overnight as the Asian markets stepped back from their headlong dash to zero. Looking for the next setup, as always.


Previous equity: $207.61
Change: -$32.76
Pip change: -400
% Change: -15.78%

Current closed equity: $174.85
Current position: flat
Current exposure: 0

The waiting is the hardest part...

This pair has made a marginal new low, but not enough to make me move the stop... I'll need it to get 400 pips in the green before I do that. It's been hovering around breakeven for some hours now while US equities refuse to give up the ghost. Sellers are probably somewhat tired. I can't imagine that the S&P is holding up because there's a great deal of buying at these levels. No matter... the longer this trade persists without getting stopped out, the more likely that it is the right idea. Bad ideas tend to get revealed as such very quickly... especially these days! (Unless, of course, you are a central banker, politician, or other economic moron.)


Current closed equity: $207.40 (negative carry when short this pair!)
Current position: Short 779 EUR/JPY at 116.398
Current exposure: 400 pips, $31.14 or 15.00%

Holy mackerel!

I guess I should have left everything in EUR/USD alone! Well... I did what looked like the right thing at the time. Looking at how far everything has moved and how wild everything is right now, I've decided to go with a very simple idea. I won't be trying to stack any other trades into this one... at least not until volatility becomes more reasonable. I'm naturally using a very wide stop on this idea...

Short 779 EUR/JPY at the market (116.398)
Initial stop: 120.398
Initial exposure: 400 pips, $31.14 or 15.00%

Current closed equity: $207.61
Current position: Short 779 EUR/JPY at 116.398
Current exposure: 400 pips, $31.14 or 15.00%

Grrrr!

I should be freaking ecstatic, but I'm pretty disappointed with how this trade turned out. I closed it early because the pair popped over a 2 day high, and I was unwilling to wait to see if it would take back everything. I will probably re-short the pair as it falls back through 1.29, and the pending orders stay for now.

Starting equity: $127.07
Change: +$80.54
% Change: +63.38% (It was well over 100%, hence the lack of excitement. Damned endowment effect!)

Current closed equity: $207.61
Current position: flat
Current exposure: 0

Setting up again...

Trying a closer target this time around.

Pending order(9): Short 2748 EUR/USD at 1.2786
Pending order(10): Long 1374 EUR/USD at 1.2736
Initial stop: 1.2836
Initial exposure: 50 pips, $13.74 or 15.00% (Of starting equity minus losses - $91.61)

Pending order(5): Long 3768 EUR/USD at 1.3254 (disaster stop)


Starting equity: $127.07
Current open equity: $232.29
Current position: Short 3768 EUR/USD at 1.3194 (avg.)
Current exposure: 0

Zapped again...

Not the break we were looking for again. Will look for a better spot. Maybe this hour's low.


Pending order(5): Long 3768 EUR/USD at 1.3254 (disaster stop)


Starting equity: $127.07
Current open equity: $244.39
Current position: Short 3768 EUR/USD at 1.3194 (avg.)
Current exposure: 0

Order hit!

We're in, and profits are accruing already... just how we like them!

Short 1902 EUR/USD at 1.2775

Pending order(8): Long 951 EUR/USD at 1.2690



Pending order(5): Long 3768 EUR/USD at 1.3254 (disaster stop)

Starting equity: $127.07
Current open equity: $300.76
Current position: Short 5670 EUR/USD at 1.3053 (avg.)
Current exposure: 85 pips, $16.17 or 15.00% (of starting equity minus loss on previous trade-$107.81)

Trying again.

Looking to stack in a 3rd short.

Pending order(7): Short 1902 EUR/USD at 1.2775
Pending order(8): Long 951 EUR/USD at 1.2690
Initial stop: 1.2860
Initial exposure: 85 pips, $16.17 or 15.00% (of starting equity minus loss on previous trade-$107.81)

Pending order(5): Long 3768 EUR/USD at 1.3254 (disaster stop)

Starting equity: $127.07
Current open equity: $273.06
Current position: Short 3768 EUR/USD at 1.3194 (avg.)
Current exposure: 0

Looking for a new spot...

Well, that unfortunate but short-lived trade got stopped right out after having started lower in earnest by about 25 pips before a merciless reversal. A new shorting opportunity will surely present itself.

Starting equity: $127.07
Current open equity: $242.31
Current position: Short 3768 EUR/USD at 1.3194 (avg.)
Current exposure: 0

Here we go!

Just shorted the break of an inside hourly bar.
Short 2978 EUR/USD at 1.2837

Pending order(6): Long 1489 EUR/USD at 1.2773

Pending order(5): Long 3768 EUR/USD at 1.3254



Starting equity: $127.07
Current open equity: $299.44
Current position: Short 6740 EUR/USD at 1.3036 (avg.)
Current exposure: 64 pips, $19.06 or 15.00% (of starting equity)

Nice moves!

Whoa! The Euro has fallen nearly 500 pips from my initial entry at one point. It's currently sitting about 350 points in my favor. Of course, I'm looking for a place to stack on another leg. The pair is currently consolidating, so someplace near this level is probably a good place.

Pending order(5): Long 3768 EUR/USD at 1.3254



Starting equity: $127.07
Current open equity: $280.49
Current position: Short 3768 EUR/USD at 1.3194 (avg.)
Current exposure: 0

Successful stack!

The breakeven buy point was hit for the 2nd leg of this trade. Due to the way OANDA executes trades, I've removed the stop losses and needed to place a pending long order to flatten the position if the pair should get back to the price where my open equity will once again equal the starting equity for this position.

Pending order(5): Long 3768 EUR/USD at 1.3254

I will also be looking to stack on a 3rd leg someplace...

Starting equity: $127.07
Current open equity: $179.84
Current position: Short 3768 EUR/USD at 1.3194 (avg.)
Current exposure: 0

Hit.

Order triggered, but it turns out I didn't have quite enough margin to take that position size. I've adjusted it downwards, and the trade is on with 3300 units.

Pending order(4): Long 1650 EUR/USD at 1.3144

Initial exposure: 57 pips, $18.81 or 14.80% (of starting equity)

Starting equity: $127.07
Current open equity: $148.04
Current position: Short 5418 EUR/USD at 1.3203 (avg.)
Current exposure: 57 pips, $18.81 or 14.80% (of starting equity)

Press point

If this hour's low is taken out, I want to go ahead and try to stack on another short.

Pending order(3): Short 4236 EUR/USD at 1.3189
Pending order(4): Long 2118 EUR/USD at 1.3144
Initial Stop: 1.3234
Initial exposure: 45 pips, $19.06 or 15.00% (of starting equity)

Starting equity: $127.07
Current open equity: $139.13
Current position: Short 2118 EUR/USD at 1.3224
Current exposure: 0

Free riding point hit

Around 8:10 am, the order to sell 1/2 the position was triggered, making this a risk-free trade. Looking for a place now to press it. Actually, a break below this hour's low looks like a good place. to watch.


Starting equity: $127.07
Current open equity: $144.55
Current position: Short 2118 EUR/USD at 1.3224
Current exposure: 0

There's the break!

We're in. Gee, it's been kind of a long time since I've traded the EUR/USD... I wonder what kind of pain is in store....


Pending order(2): Long 2118 EUR/USD at 1.3179

Current closed equity: $127.07
Current position: Short 4236 EUR/USD at 1.3224
Current exposure: 45 pips, $19.06 or 15.00%

DIBS on the Euro

Taking the inside bar setup on the Euro.

Pending order(1): Short 4236 EUR/USD at 1.3224
Pending order(2): Long 2118 EUR/USD at 1.3179
Initial stop: 1.3269
Initial exposure: 45 pips, $19.06 or 15.00%

Current closed equity: $127.07
Current position: flat
Current exposure: 0

Miracle rescinded.

The pair just collapsed and took out both stops. Just not the move, I guess. Will be looking for another place to enter, not necessarily this pair.


Previous equity: $148.48
Change: -$21.42
% Change: -14.43%

Current closed equity: $127.06
Current position: flat
Current exposure: 0

Pressing the trade

I am currently regretting this, but: Long 2682 GBP/USD at 1.7396

Initial exposure: 83 pips, $22.27 or 14.99%

Pending order (5): Short 1341 GPB/USD at 1.7479

Current closed equity: $160.31
Starting equity: $148.48
Current position: Long 4023 GBP/USD at 1.7382 (avg)
Current exposure: $22.27 or 14.99% (of starting equity)

It's a Forex miracle!

I was not expecting this trade to survive the weekend. It was pretty close to the stop on Friday afternoon, and with the super wide spreads during the Sunday session, it wouldn't have taken much of a move down to take out the stop. Somehow, the stop didn't get hit, and now the pending order to lock in a breakeven was hit at 2:11 this morning. Cool. Now looking for another place to stack in another long.


Current open equity: $172.35
Current closed equity: $148.48
Current position: Long 1341 GBP/USD at 1.7350
Current exposure: 0

Top popped

Long order triggered. Not winning any prizes so far, but we shall see...

Pending order (4): Short 1341 GPB/USD at 1.7433


Current closed equity: $148.48
Current position: Long 2682 GBP/USD at 1.7350
Current exposure: 83 pips, $22.27 or 14.99%

Yet another for the loss column

Short trade just got stopped out.


Previous equity: $174.74
Pip change: -83
Change: -$26.26
% Change: -15.03%




Current closed equity: $148.48
Current position: flat
Current exposure: 0

Reinstating topside orders

This open trade has blown chunks almost from the get-go. No matter. Replacing orders to go long with smaller size.

Pending order (3): Long 2682 GBP/USD at 1.7350
Pending order (4): Short 1341 GPB/USD at 1.7433
Initial stop: 1.7267
Initial exposure: 83 pips, $22.27 or 14.99%

Current closed equity: $174.74
Current position: Short 3156 GBP/USD at 1.7247
Current exposure: 83 pips, $26.20 or 14.99%

Short side triggered

Canceled topside orders for now. I will likely put them back with reduced size if this trade should go badly and get stopped out.


Pending order (2): Long 1578 GPB/USD at 1.7164

Current closed equity: $174.74
Current position: Short 3156 GBP/USD at 1.7247
Current exposure: 83 pips, $26.20 or 14.99%

Setting up for the upside too...

This consolidation could break either way.

Pending order (3): Long 3156 GBP/USD at 1.7350
Pending order (4): Short 1578 GPB/USD at 1.7433
Initial stop: 1.7267
Initial exposure: 83 pips, $26.20 or 14.99%

Current closed equity: $174.74
Current position: flat
Current exposure: 0

Taking another tack

If GBP breaks today's low, I'm going for it on the short side.

Pending order (1): Short 3156 GBP/USD at 1.7247
Pending order (2): Long 1578 GPB/USD at 1.7164
Initial stop: 1.7330
Initial exposure: 83 pips, $26.20 or 14.99%

Current closed equity: $174.74
Current position: flat
Current exposure: 0

Bitch slapped

As I lay sleeping, the 1st order got hit, and then stopped out about 4:30 am EDT. Looking for the next setup...

(Canceled pending short order, of course.)

Previous equity: $205.56
Pip change: -83
Change: -$30.82
% Change: -14.99%




Current closed equity: $174.74
Current position: flat
Current exposure: 0

Looking at GBP

GBP/USD has been rising towards a line of resistance that has been turning the pair back since late Wednesday. If it breaks above it, I want to be long.

Pending order(1): Long 3716 GBP/USD at 1.7359
Pending order(2): Short 1858 GBP/USD at 1.7442
Initial stop: 1.7276
Initial exposure: 83 pips, $30.84 or 15.00%



Current closed equity: $205.56
Current position: flat
Current exposure: 0

Canceled pending orders

The pair seems to have stopped moving, and I think there will be superior opportunities elsewhere or at least elsewhen.

Current closed equity: $205.55
Current position: flat
Current exposure: 0

oof

Well, that mercifully short lived and ill-fated trade was something like getting gored by a mad elephant. Yow!

Previous equity: $241.40
Pip change: -100
Change: -$35.85
% Change: -14.85%

The short side is back in play for me if this pair takes out this hour's low.

Pending order(1): Short 3082 EUR/JPY at 135.50
Pending order(2): Long 1541 EUR/JPY at 134.50
Initial stop: 136.50
Initial exposure: 100 pips, $30.82 or 14.99%



Current closed equity: $205.55
Current position: flat
Current exposure: 0

Topside triggered

I can't say I'm particularly thrilled about this, but the long order got hit first. Who knows... maybe I'll be wrong and the trade will kick ass. It's happened before. Canceled the pending orders 3 and 4.



Pending order (2): Short 1810 EUR/JPY at 137.74



Current closed equity: $241.40
Current position: Long 3620 EUR/JPY at 136.74
Current exposure: 100 pips, $36.20 or 15.00%

Edging up to the range

Just moved the bottom orders up a bit to catch the break of the recent lows if there is to be one.


Pending order (3): Short 3620 EUR/JPY at 134.04
Pending order (4): Long 1810 EUR/JPY at 133.04
Initial stop: 135.04
Initial exposure: 100 pips, $36.20 or 15.00%


Current closed equity: $241.40
Current position: flat
Current exposure: 0

Or maybe not...

After the Philly Fed release, the pair seems to want to go back down. If that is to be the case, I'm positioned to go for lower levels after penetration of today's low.

Pending order (3): Short 3620 EUR/JPY at 133.48
Pending order (4): Long 1810 EUR/JPY at 132.48
Initial stop: 134.48
Initial exposure: 100 pips, $36.20 or 15.00%


Current closed equity: $241.40
Current position: flat
Current exposure: 0

Next E/J setup

Should this pair go on a ride higher, I'm going to get on board and try stacking up some free trades the other way.

Pending order (1): Long 3620 EUR/JPY at 136.74
Pending order (2): Short 1810 EUR/JPY at 137.74
Initial stop: 135.74
Initial exposure: 100 pips, $36.20 or 15.00%


Current closed equity: $241.40
Current position: flat
Current exposure: 0

Things looking up

I came within less than 5 pips of getting stopped out after the CPI release. Perhaps up is the way to go from here. And inside bar is developing this hour, and a break of it could be a good place to launch a long. Closed out the open trade with a nice profit... but disappointingly not nearly as nice as it was yesterday evening.

Previous equity: $207.00
Pip change: +75 and +106
Change: +$34.40
% Change: +16.62%

Current closed equity: $241.40
Current position: flat
Current exposure: 0

Trying from another spot

The pair has traced a consolidation pattern overnight, which has broken out to the upside this hour. If that breakout should fail by taking out this hour's low, it should be a good place to add to the short position. Equity will be lower at that point, so a size adjustment is required to keep the risk to only 1/2 of the open profits at the entry point.

Pending order (1): Short 3000 EUR/JPY at 134.87
Pending order (2): Long 1500 EUR/JPY at 133.87
Initial stop: 135.87
Initial exposure: 100 pips, $30.00 or 11.22% (of total equity at entry)

Current closed equity: $221.33
Current open equity: $247.45
Current position: Short 1932 EUR/JPY at 137.25
Current exposure: 75 pips locked in, +$14.33 r +6.92%

Place to press the trade

EUR/JPY has finally started rising a bit, exposing a low to be shorted. I am willing to risk 1/2 of the open profits that will be available if the pair reaches that point again. Spreads are high right now, so I'm actually counting the low 8 pips beneath the number on the chart. I've sized appropriately to give myself 100 pips of leeway. Again, if the pair should fall 100 pips from my entry, I will cover half the position and leave the stop on that portion where it is.

Pending order (1): Short 3750 EUR/JPY at 133.28
Pending order (2): Long 1875 EUR/JPY at 132.28
Initial stop: 134.28
Initial exposure: 100 pips, $37.50 or 12.66% (of total equity at entry)

Current closed equity: $221.33
Current open equity: $280.04
Current position: Short 1932 EUR/JPY at 137.25
Current exposure: 75 pips locked in, +$14.33 or +6.92%

How do you say 'Boo-Yah' backwards?

This pair is breaking down very nicely. The trade is positive by more than 300 pips... the only thing is that the fall has been so precipitous that there's been no place to stack on any additional size. Cry me a river, huh?
Anyway, the stop is moved to the entry price to lock in at least 1/2 of the amount originally risked for a profit.

Current closed equity: $221.33
Current open equity: $272.14
Current position: Short 1932 EUR/JPY at 137.25
Current exposure: 75 pips locked in, +$14.33 or +6.92%

Free trade!

The pending order was hit, locking in the amount I had risked. That makes this a free trade with the stop a nice 150+ pips away. (Equities are getting hammered again!)




Current closed equity: $207.00
Current open equity: $221.33
Current position: Short 1932 EUR/JPY at 137.25
Current exposure: 0 pips

Downside break

Pair broke the box-range to the downside. Canceled pending orders sitting on the topside. Trade got nicely positive at first, but it's retracing now... although it hasn't ticked into negative territory yet.


Pending order (4): Long 1932 EUR/JPY at 136.50


Current closed equity: $207.00
Current position: Short 3864 EUR/JPY at 137.25
Current exposure: 75 pips, $28.98 or 14%

Boxing in the other side too...

This range will break one way or another. There is an equivalent short setup to try. Whichever gets hit first, I'll cancel the other.

Pending order (3): Short 3864 EUR/JPY at 137.25
Pending order (4): Long 1932 EUR/JPY at 136.50
Initial stop: 138.00
Initial exposure: 75 pips, $28.98 or 14%

Current closed equity: $207.00
Current position: flat
Current exposure: 0

Setting it up again...

Same idea, different levels.

Pending order (1): Long 3864 EUR/JPY at 138.94
Pending order (2): Short 1932 EUR/JPY at 139.69
Initial stop: 138.19
Initial exposure: 75 pips, $28.98 or 14%

Current closed equity: $207.00
Current position: flat
Current exposure: 0

Loss taken

Pair came back in. A new inside bar setup may be in the making, so I might be long this pair again next hour.

Previous equity: $240.16
Pip change: -50
Change: -$33.16
% Change: -13.81%

Current closed equity: $207.00
Current position: flat
Current exposure: 0

Another shot at E/J

Just entered a long in EUR/JPY as it broke above the day's high at 138.81.

Pending order: Short 3362 EUR/JPY at 139.322

Current closed equity: $240.16
Current position: Long 6724 EUR/JPY at 138.822
Current exposure: 50 pips, $33.62 or 13.99%

Order hit, trade stopped out.

The first entry order was hit around 1:30 EDT, and the pair approached the second order, but didn't hit it before getting stopped out at 4:30 EDT during a news event when the spread must have been quite wide, since the low on the chart at that time is 10 pips from the stop price.
Then, of course, the pair went higher and triggered the 2nd order. This is always a problem with OANDA, since their platform doesn't offer the ability to automatically cancel orders when certain events happen. So I lost another 50 pips on the 1/2 size short order. Sometimes it results in a win... so it's not a huge problem, but I'd really prefer that the platform have the functionality to implement my plans my way.

Previous equity: $270
Pip change: -43 and -50
Change: -$29.84
% Change: -11.05%

Current closed equity: $240.16
Current position: flat
Current exposure: 0

Same sort of deal...

Taking a shot at a long in GBP using the same kind of setup.

Pending order(1): Long 4396 GBP/USD at 1.7458
Pending order(2): Short 2198 GBP/USD at 1.7501
Initial stop: 1.7415
Initial exposure: 43 pips, $18.91 or 7.00%


Current closed equity: $270.00
Current position: flat
Current exposure: 0

Cancelled pending orders.

The pair just didn't want to move in the right direction... will look for a new opportunity tomorrow morning.


Current closed equity: $270.00
Current position: flat
Current exposure: 0

Adjustments

A lower risk entry point has developed as the pair consolidates. The new entries and exits are as follows:


Pending order(1): Long 3870 USD/JPY at 102.37
Pending order(2): Short 1935 USD/JPY at 102.75
Initial stop: 101.99
Initial exposure: 38 pips, $14.71 or 5.45%


Current closed equity: $270.00
Current position: flat
Current exposure: 0

Trying something a little different

This time I am going to try and 'stack' on some free trades. The idea is Long USD/JPY as equities snap back from these panic lows. It's possible we'll see some recovery for a few weeks, which should drag this pair higher.
The first entry point is just over last hour's high at 102.69. That hour drew a long downward pointing 'tail' in the context of a short-term uptrend. Its high is a high-probability place for a long. The tail is nearly 100 pips long, so I'm using 100 pips as my initial stop size.
In order to stack on some free trades, I'll be selling half of this position once it is 100 pips in the green, thereby allowing me to leave the stop where it is and making the trade risk-free. Then I'll look for another entry point to do the same thing.

Pending order(1): Long 3870 USD/JPY at 102.69
Pending order(2): Short 1935 USD/JPY at 103.69
Initial stop: 101.69
Initial exposure: 100 pips, $38.70 or 14.33%


Current closed equity: $270.00
Current position: flat
Current exposure: 0

Bye Baby went!

Stops get hit... nature of the game. Still, not a bad trade at all for less than 48 hours. Not sure what to look at next, but something will come up. It always does.


Previous equity: $156.23
Pip change: +400
Change: +$113.77
% Change: +72.82%

Current closed equity: $270.00
Current position: flat
Current exposure: 0

Go, Baby go!

Stop moved to lock in yet another 100 pips.

Current closed equity: $156.23
Current position: Long 2900 EUR/JPY at 135.50
Current exposure: +400 pips locked in, +$116.00 or +74.25%

And 100 more...

Whoa Nellie!

Current closed equity: $156.23
Current position: Long 2900 EUR/JPY at 135.50
Current exposure: +300 pips locked in, +$87.00 or +55.69%

Nice move underway...

This pair is on fire today! Trade is to the plus side by 400 pips. Locked in another 100.

Current closed equity: $156.23
Current position: Long 2900 EUR/JPY at 135.50
Current exposure: +200 pips locked in, +$58.00 or +37.12%

Ka-BOOM!

Wow! That was one heck of a bounce in equities! Pretty typical of bear markets actually. This trade has been up by more than 300 pips so far. I've just moved the stop to lock in 100.

Current closed equity: $156.23
Current position: Long 2900 EUR/JPY at 135.50
Current exposure: +100 pips locked in, +$29.00 or +18.56%

Trade triggered

Order got hit and immediately began producing profits... that's how we like them! Stop is already moved to breakeven as EUR/JPY has rocketed higher tacking on well over 120 pips.



Current closed equity: $156.23
Current position: Long 2900 EUR/JPY at 135.50
Current exposure: 0

Next setup...

Looking at getting long EUR/JPY. If equities happen to snap back, this should be a good place to be. The trigger point is just the high of an inside hourly bar.

Pending order: Long 2900 EUR/JPY at 135.50
Initial stop: 134.70
Initial exposure: 80 pips, $23.20 or 14.85%

Current closed equity: $156.23
Current position: flat
Current exposure: 0

Stop hit.

I was finally taken out on this incredibly wild day. Not sure what the next move will be, but I'll be waiting until the beginning of next week to come up with something.

Previous equity: $76.58
Pip change: +535
Change: +$79.63
% Change: +103.98%

Current closed equity: $156.21
Current position: flat
Current exposure: 0

Holy ...!!!

Un-be-freaking-lievable moves. Again, I came within a hair's breadth of being stopped out in a short-squeeze. It's possible that we've seen the panic low in equities and in this pair. Time will tell, but since the USD/JPY has pulled back from today's high and the USD is screamingly strong against the other major currencies, I figure this is a good place to lock in some more profits. I hate moving stops this close, but it has been a great run so far, and I'd hate even more to give up so much of the hard-won gains. There are always other trades coming down the line... I'm eyeing both EUR and GBP for possible longs next week.

Current closed equity: $76.08
Current position: Short 1500 USD/JPY from 105.40
Current exposure: 535 pips locked in, +$80.25 or +105.48%

Locked in more...

Locked in a few more. Wow! This market is volatile! Not that it's a surprise... but still, it's something to see.

Current closed equity: $76.15
Current position: Short 1500 USD/JPY from 105.40
Current exposure: 480 pips locked in, +$72.00 or +94.55%

Nope!

Cancelled pending order... if there is a time and a place to go long this pair, it will be revealed after I reassess.

Also... what a historic moment! One day, I'll be able to tell someone that I was trading on the day that the price of an ounce of gold traded above the price of the S&P 500 Index. It happened about 5 minutes ago. We were there to see History in the Making! How exciting!

Oh... and the open trade is up 570 pips! Nice!

Current closed equity: $76.15
Current position: Short 1500 USD/JPY from 105.40
Current exposure: 384 pips locked in, +$57.60 or +75.64%

Rally?

Moving stop down an additional 44 pips to just above yesterday's high accounting for a 5 pip spread. On the daily chart, that level also represents the top of a long 'hammer' candle, which should be a great place to go long.

Pending order: Long 3125 USD/JPY at 101.57
Initial stop: 100.97
Initial exposure: 60 pips, $18.75 or 14.02%


Current closed equity: $76.15
Current position: Short 1500 USD/JPY from 105.40
Current exposure: 384 pips locked in, +$57.60 or +75.64%

Breakdown!

Moved stop once again. Locked in an additional 140 pips.


Current closed equity: $76.23
Current position: Short 1500 USD/JPY from 105.40
Current exposure: 340 pips locked in, +$51.00 or +66.9%

Moved stop

Yesterday the pair chopped around and I didn't feel comfortable moving the stop. USD/JPY has broken down overnight, taking out the 100 level again. It's still crazy with volatility since everyone is spooked that the BoJ may intervene, so I'm giving this one plenty of room. Locking in an additional 50 pips.


Current closed equity: $76.23 (Blasted negative carry!)
Current position: Short 1500 USD/JPY from 105.40
Current exposure: 200 pips locked in, +$30.00 or +39.35%

And the collapse rolls on...

Moved my stop down to lock in an additional 50 pips. Got your Dow 10,000 hat back out? The DJIA crossed the 10k mark again today... this time from above!

Current closed equity: $76.40 (There goes that carry again!)
Current position: Short 1500 USD/JPY from 105.40
Current exposure: 150 pips locked in, +$22.50 or +29.45%

Stop moved again

USD/JPY dropped precipitously overnight. Trade has been up by a nice 250+ pips. Locking in 100.

Current closed equity: $76.40 (There goes that carry again!)
Current position: Short 1500 USD/JPY from 105.40
Current exposure: 100 pips locked in, +$15.00 or +19.63%

Stop moved

Stop moved to breakeven. I hate to do that in this pre-Tokyo open session, but when the plan calls for moving the stop, I move the stop, and that's that. (The plan was to move the stop when the position had gained 1x the amount risked.)

Current closed equity: $76.49 (There goes that carry again!)
Current position: Short 1500 USD/JPY from 105.40
Current exposure: 0

And...

... incidentally, the trailing stop on the GBP short would have been taken out, so it was the right move to close when I did.

Current closed equity: $76.58
Current position: Short 1500 USD/JPY from 105.40
Current exposure: 60 pips, $9.00 or 11.75%

Stop and reverse

Trade got stopped out on news of bailout passage. Pair then went on to take out the low from where the advance began, which should be a good place to short.

Previous equity: $90.58
Pip change: -60
Change: -$14.00
% Change: -15.46%
(I made an error when entering the new trade, and lost a few ticks.)


Current closed equity: $76.58
Current position: Short 1500 USD/JPY from 105.40
Current exposure: 60 pips, $9.00 or 11.75%

Trade triggered

We're in. Not sure what the deal is with the widened spread (5 pips), but in these markets nothing should surprise me.

Equities are rocketing higher on no news. We shall see....


Current closed equity: $90.58
Current position: Long 2250 USD/JPY at 106.14
Current exposure: $13.50 or 14.9%

Next idea....

Evil as I think the bailout is, I think it will pass the House, and this probably bodes well for the dollar in the short term. Ultimately it means the destruction of the dollar, but it will likely take years for the markets to recognize that.

Pending order: Long 2250 USD/JPY at 106.14
Initial stop: 105.54
Initial exposure: 60 pips, $13.50 or 14.9%


Current closed equity: $90.58
Current position: flat
Current exposure: 0

Not bad.

Today reveals a strong bullish reversal in progress. The trade was up over 1000 pips again just after the NFP report, but in the next 2 hours, the pair raced higher taking out the pre-NFP highs and making for the trailing stop like it meant business. After several days of weakness, the risk is all to the upside, so this is a fine time to lock in a triple. I'm pretty sure the trail will be hit before a new low is made. If so, this will have proven to be the right move. If not... well, it's not optimal, but it's not too bad either.
Next deal may be long EUR. GBP is freakishly volatile right now, and I don't know that I want to mess with it... but I may not place an order at all, since London close is upon us.

Previous equity: $29.54
Pip change: +827
Change: +$61.04
% Change: +206.64%


Current closed equity: $90.58
Current position: flat
Current exposure: 0

Still kickin'!

Trade was up by more than 1,000 pips. I have locked in 750 so far, and hoping for more of course.


Current closed equity: $28.73 (Carry having its effect, naturally.)
Current position: Short 750 GBP/USD at 1.8566
Current exposure: +750 pips locked in, +$56.25 or +195.79%

Yeah, Baby!

Trade up by more than 900 pips. Locked in another 100. This trade has been open for nearly a week now. The losers tend to be open for hours or sometimes just minutes. Take a small loss quickly and let the winners run... that's what it's all about.

Current closed equity: $28.84 (Carry still eroding value... big deal.)
Current position: Short 750 GBP/USD at 1.8566
Current exposure: +650 pips locked in, +$48.75 or +169.04%