The Hawk's journal

[Roadrat]

Yes, this was a nice trade, I got in a little late because my spread bet co refused my first attempt, but when I did eventually get in, 30 pips in 4 minutes.

[Metalhawk]

Just thought I'd mention that I do not intend to take a trade should the 200.00 line be broken. I just don't trust it. Last time it broke, it reversed after 25 pips. If there's a bounce off the 200.00 line or around there, then I'll be more inclined to take a trade when price tries again.

[Metalhawk]

Glad I didn't take that trade. But it seems that there's some nice support potentially forming around 199.75. A bounce on May 9, and another one yesterday. I will consider this line for a trade next week if price can retrace away from it for a bit.

[Fetor]

Originally Posted by Metalhawk

Just thought I'd mention that I do not intend to take a trade should the 200.00 line be broken. I just don't trust it. Last time it broke, it reversed after 25 pips. If there's a bounce off the 200.00 line or around there, then I'll be more inclined to take a trade when price tries again.

Getting wiser.....how many times have we been burned by those high-significance-strong-lines with weak break outs..........nice hold on that one because that retracement would have chewed you up.

[Roadrat]

This line which was 199.78 on my ODL MT4 platform was broken at 01:37 GMT it retraced 20 pips before plummeting over 100 pips. Would have been a great trade if I had not been sleeping.

I hate the Asian session, it should be banned.

[Metalhawk]

I usually place an automatic entry for scalp trades when I'm at work, but I didn't get around to it for this one. Bummer. At least I take some comfort (I'm tired of that, LOL) in knowing that I would have been right again...

[Metalhawk]

August 31 - September 6

1. I took a short when price crossed the 195.00 S&R line I have on my charts. I sadly ended up getting slipped a little on the entry. And with GBP/JPY not being quite itself yet, I only aimed for 50 pips beyond the line, so I closed @ 194.50. This gave me, after the slip and the spread, 39 pips.

Total / target for the week: +39 / 100 pips

[Metalhawk]

Sometimes, you need to be lucky. And disciplined. And it looks like I was both this time. I have a S&R line on my charts @ 192.55ish. And when the price was going to break it last night, I usually would have entered. But, I didn't, because I said before that I wouldn't take trades around news anymore, and with the Services PMI news release imminent, I stayed out. Price broke, reversed, came down again, then reversed again mightily and would have stopped me out. Luck? Discipline? Both? Either way I'm glad I stayed out of this one.

[Metalhawk]

Everyone's made pips this week... except me, other than that 39 pips at the start of the week, that is. Sadly, I had 2 broken lines, but couldn't take either trades, since one was while I was at work, and the other one I was sleeping, although that second one was during the US unemployment news, so I probably wouldn't have traded it either.

No scalp lines this week, those are the ones I can usually "set and forget". Oh well, I would have met my target with that remaining trade (break of the 189.50 S&R line) if I hadn't been at work for it.

So still confident here, just disappointed with my bad timing this week.

[rogan]

Hey MH,

You may have missed some trades, but you are looking more and more consistant - which I guess is the real winner long term. Working and trading is a real pain for sure, I have this problem too. Keep going mate.