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Why do I trade?

Why do I trade?

Kim Krompass, founder of Price Action Traders Institute, recently sent out an email asking traders “Why do you trade forex?”  I didn’t respond to her email because I believed (correctly) that she was compiling statistical results, and my answer wouldn’t fit into any statistical “buckets”.  But, more importantly, I didn’t respond because my answer was too complicated to write down in a few sentences. Even now, after a summer hiatus and as we prepare to start the fall trading season,…

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A roller coaster morning

A roller coaster morning

The news trades this morning (on the USD CPI) started out fast and furious. I had taken a pullback trade on the AUDJPY prior to the news, and held it through the news.  I also took a short trade on the USDCAD, which stopped out, and a long trade on AUDUSD, which also stopped out.  But the AUDJPY soared during the news, and I hit my limit for +34.3.  Then I took a long trade on GBPUSD, and it also…

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Ups and downs (or downs and ups then down again)

Ups and downs (or downs and ups then down again)

Starting out with some news trades – took AUDUSD and EURUSD short on the PPI news.  They started out moving slowly in my direction, but have reversed and are hanging out in the vicinity of my entry.  I punched out of EURUSD for <2.0> as it was about to close the candle without having broken out of the range.  The movement on the AUDUSD takes it into the class of range breakouts, so I’m going to hold onto it a…

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Just a recap, since I didn’t post on Friday. I did attempt to trade the NFP, and took two stops (EURUSD and GBPUSD) to go down <18> to start the session.  I then stayed in, trying to recoup the losses, and, bit by bit, accumulated several more losses. I had a small win (6.5 pips) with a second GBPUSD trade, and then ended the session with a 1:1 win on CADJPY for +11.9 after holding it for what seemed like…

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A win streak!

A win streak!

Started out with YL (pullback) trades on GBPUSD and USDJPY a little while before NYC open. Starting the day out down <36> for the week and month after modest wins on Tuesday (+13.5) and yesterday (+4.4).  Like to extend that streak and end up positive for the week and month. But, as always, I want to take what the market will give. I picked up YL trades on AUDUSD and then EURUSD. And I have just punched out of everything…

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New week, new month, new quarter

New week, new month, new quarter

Starting fresh this morning.  It’s a new day, a new week, a new month, and the start of a new quarter. Things appear to be mostly in a range this morning.  I did take two trades on the USD PMI news, short the USDJPY and long they EURUSD.  They both started out slightly in my favor, and held that for a couple minutes before reversing and slowly edging back to stop me out just before the end of the candle. …

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Ending the month with a bang

Ending the month with a bang

… and not a good bang. As I write this (4:45 am CDT), I’m down <74.4>, with one trade (AUDUSD) still open. I woke up early and couldn’t go back to sleep, and then heard an alert on my computer (I usually turn the speakers off at night so the alerts don’t bother me, but I forgot last night), so I got up and looked at the market.  I found the EUR and GBP pairs in significant clear directional moves,…

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FOMC day

FOMC day

Got an early start this morning, checking the charts after I got up at 5:30 am.  I found almost everything in a range, and set range breakout orders to exercise the PATI Trading Assistant.  There’s still a rare bug there that I’m trying to find when it deletes the pending orders at the two minute mark.  It doesn’t happen often, so I need to have as many samples as I can get. I got early hits on GBPUSD and EURUSD. …

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I’m a little late getting to this post – I’ve been looking at the charts since 4:30 am CDT, and began sticking my toe in a little before 7:00.  I took pullback entries on EURUSD, then EURJPY, then GBPJPY.  Then a failed break out short on the USDJPY, and finally an entry on GBPUSD.  And now all have stopped out (except for the USDJPY, which closed back inside range for <3.2>.  So a half hour before NY open, I’ve taken…

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A short morning

A short morning

I got a late start this morning because of attending the early morning Bible study, and the session was over quickly. Nothing much was happening except in the EUR and GBP pairs, which were all in clear directional moves to the upside. I took pullback entries on all 4 pairs, and, one after another, they all stopped out. Took re-entries on GBPJPY and GBPUSD, and they also stopped out.  So, on 6 trades, I had 6 losses, and I’m down…

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I may be crazy

I may be crazy

I’ve decided to give it a go this morning.  I don’t usually like trading on Friday, but I’d really like to close out the week positive. It looks like it’s all about Brexit this morning.  GBP pairs are WAY down (over 200 pips), and getting into them may be difficult, or it may be too late.  I’ve got pending trades on GBPUSD and GBPJPY. The EURUSD is also down, though not as much.  I’m in that short on a pullback…

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