Wednesday, July 30, 2008

Update: EUR/CHF

Below is a chart of the same currency pair (EUR/CHF) that I've been waiting on. I posted about this in early July (previous post) and the time to short looks to be getting closer. Also, you'll notice that I added in a horizontal resistance line at 1.6340.

When looking at this chart and looking at an hourly chart; I'm expecting this currency pair to drop. The hourly chart is showing some divergence on the MACD (graph not shown) as it approaches the resistance...I shorted 1 mini contract here (cost basis: 1.6329) and will short another if it breaks in my direction.

Thursday, July 10, 2008

EUR/CHF Setup Coming?

Looking at the 2 charts below...I'm looking for a nice Risk/Reward entry to be coming up soon...

This is a weekly chart of the EUR/CHF. With my support & resistance line drawn...Most recently it came up and hit resistance before going lower; so the line is still intact...

Here is a daily chart of the EUR/CHF; Same line as above drawn here. But for now it's having trouble getting over it's 200 MA. I'd like to see it get past it's 200MA and go to the trend line I have drawn; I'd then short it...IF that happened.

And I'm still reviewing all of my stock trades for 2008. So far, I'm getting the impression that my exit strategy just sucks. I've been either too early or too late. But that's for the time being and the rest of trades I review could indicate that my entries suck; but that's what I'm finding for now...Just an update and I'll keep you posted.

Sunday, July 6, 2008


I'm going into full review mode. I've put a stop on all of my trading until I review and go through my past trades....This is a tall order but I've been getting my butt handed to me and I need to figure out what went/is going wrong with my system. I will repost when I have finished to share my findings.

My Goal: Review all of my 2008 trades

I will review each and every trade and ask myself the following questions. Was it a winner or loser? What went right/wrong? Could I have done something different to make it more profitable? If so, what?

This is a tall order but with me wanting to trade full time; I believe that this is a necessary step.

-Matt J