LC/B barely moved today while AT and PX jumped with 4+% gains. I think PX will enter a parabolic run when it closes higher than 21.75.

Issues that are lingering just above 50SMA are ICT, MBT. NIKL appears to be forming a base.

The index appears to be at its immediate resistance(50SMA+50RSI).

Not much interesting moves on the PSE so I am still practicing on trading FX(EURUSD and XAUGLD pairs) on my free time. I still get frustrated from time to time as I continually forgets my basic trading rules :))

Forex trading appears to be more promising nonetheless if done properly. There would be no more need to wait for quarterly earnings report.

I asked around again the local forums with regards to forex trading. Let's see who would even bother answering :))

I think Gold($GOLD) is preparing to challenge the 1574 levels again in the short term. Think long!

TEL: Divergence

Divergence: Deal or no deal?


The only thing that disturbs me with TEL is the flat price action in between divergences, inclining me to believe this action as a fake one.

I am having trouble seeing what's real with all the superficial closings last week.

No meaningful moves with LC/B while most of the oversold issues rallied today.

LC is being slightly bearish on the 5-min chart while LCB is slightly bullish on the same time frame.

This might suggest further consolidation in the short term. Still waiting for a rally with huge range/bearish RSI divergence.

AT broke and closed above its box resistance @18, looking forward to 19.50 as a short term target.

MEG rallied(DCB?) off its MS1 today. Short term target @2.14 levels(MPP and 50EMA).

Most of the gainers today, I cannot read.

Started another FX demo account with US$3k. Applying proper stops and money management now after turning a winning trade with the previous account into a loser.

I think I kind of getting it not to keep positions overnight. From a $700 gain from the long position in EUR-USD last Friday that turned into a $200 loss today as the initial stop loss was hit, I feel disheartened. I probably should have placed a stop before going away. This sucks. I'll never leave any open position overnight the next time around. /wrist

http://www.traders-library.com/

Compilation of trading articles.

142 is selling the market down again through BDO -5.73%, BPI -4.34%, GLO -4.20%,
and TEL -2.57% while they bought up AP +5.70%, SCC +7.76%, and CEB 5.73%.

LC was a little bearish but no actual divergence while LCB is bullish both on the 5-min chart.

Trailing stop got hit on the EUR-USD short position with 60 pip gain.

Currently looking for another short entry on the pair.

Positions in LC/B got spared from the huge drop in the western markets. Hoping for a better exit now.

EUR-USD: Short position

Sold EUR earlier today but my trailing stop got hit so I am trying to optimize my stops/trailing now plus the optimal position size. Trading on the bigger time frame gave better returns(pip per se).

Majority of my "winning trades" before came from the short side. Majority of my losses are from choppy movements in the 10-sec frame. Thanks to my uberly stupid position sizing, my losses are greater than my winnings lol.

It really feels easier to make trades on the short side.

Currently focusing on trading 1 pair only which is EUR-USD.
Sold EUR-USD again earlier on bear flag breakout. Let's see how this one pans out.


*Doji candles seems to be working well on the 50EMA.

Trial by Fire

Currently short on EUR-USD, reduced size of the position and applied a suitable stop loss and trailing stops. I probably shorted a little higher, no thanks to my stupid position sizing and stop loss. Now trading on the 15-minute chart with the same triple EMA crossovers.

Caught the entire leg of LCB upswing. Looking to take profits already. Hopefully it registers a new high so I can exit higher. What a pig lol.

10% gain in LCB today vs 1.92% gain in PX(technically 3.84% since it's on margin).

$1000 feels a little too small for FX?

LCB

Divergence on the 5-minute chart



I chose LCB over LC because it is lighter.
LC bounced off MPP.

Let's see if this move is sustainable throughout the week.

Bullish divergence on the 5-min chart of LCB. Got in @0.94. Let's see if this is sustainable up til closing.

Stopped out in PX.

Starting my new FX demo account with lower capital ($1000) to make it feel more "real", using maxed margin taking only 1 position.

Cna you imagine I still get impatient even though I am already trading on the 10-sec chart. I feel ridiculous lol.

PX

Bottom on the 5-min trend?

LC

Divergence confirmed?

Trading update and FX: Trial by fire.

Nothing much to post today as I was at school earlier and was only able to trade by 10:30am. PX/LC/LCB has already drop in within the levels of my expectations(+/-10%) courtesy of the bearish divergence on the daily chart so the issues could rebound anytime, most likely when DOW/GOLD rebounds.

I tried to scalp earlier today despite of the crappy market this noon. Got my hands some papercut trying to trade XAU-USD and USD-CHF with my trend/volatility system despite of both being range bound. So I lost the $400 that I gain in EUR-USD the last time which I am trying to recuperate right now on EUR-USD again and I kinda recovered half of what's lost already.

I think it's alot better to trade EUR-USD than GOLD and CHF as I always have terrible fills in both GOLD and CHF.

Somehow, it feels like it's alot easier to trade on the short side?

Candlesticks doesn't seem to work on the 10-sec chart...

Maybe it's just my imagination.

Next time I'll make another demo account with smaller capital($1000) as I don't know if I can handle the $5000 account with maxed leverage on actual trading. Right now, I am trading the whole account in 1 position only with maxed leverage with a very tight stop.


*Ninja edit: My take profits point didn't get hit just now @1.4350 in my short position (EUR-USD).

PX gap filled pala.

Out of my first class. Ouch PX!