Thanks! How is your trading going? You should start a journal on here,too.. Have a nice weekend!
Thanks, bo_brown! I still trade on the demo. I have already lost a $250 deposit on 24 option due to my inexperience and now I'm still afraid. I will trade on the demo May 2014 and if my results will be minimum 65-70% ITM, in the June I plan to trade with real money. Please post your results further!
I had less than stellar results today. One ITM, and 2 OTM's. The OTM trade was 2 losses because I thought I entered the trade a candle too early. I jumped into a second trade before the first one expired. Turns out I was 2 candles early. Both of those trades expired OTM. I saved a screenshot of the price moving in my direction on the candle after my second losing position. The market laughed at me. First, my ITM from this morning...
First up, I had an awesome trade on oil today. The 3rd week in a row since I started trading oil on the Wednesday inventory report, and ITM every time.
I had a close OTM on gbp/usd. One candle too soon, again. Sometimes I jump into the next candle when I think I'm one candle too soon ,and it usually works for me. I need to start doing that more often! Look at how close I was to winning this trade...
I traded the unemployment claim news today at 8:30 am EST. It was a wild ride, price started to drop right away, then it skyrocketed up in the wrong direction. It came all the way back down and was ITM for 10 seconds, then jumped up and expired OTM. Some news events are great, but I need to learn which ones are unpredictable... The dotted line is my strike price level. The "X" is the expiry candle. You can see if MW price really lined up with the true price, I would have won that trade.
I won a nice trade today on CAD news. The employment number went down, making the CAD weak against the USD. As you can see in the chart, I entered in the midst of that humongous green candle. I was not sure if the news would have a big impact, so I used a tiny amount to trade. Next time, I plan on higher leverage for this one...
And one bad, this one was winning on the first try, then went back down to the 50 fibo line, so I entered right away, as I am usually one candle too soon. But, it went down further deciding to turn into a waterfall on me..
Forex factory listed just the positve news for oil today. I traded oil to drop in price but it went up. I checked out investing.com's calendar, and I think I see why. Two other numbers, both red, probably pushed it up. I will be using their calendar for my news trades from now on. This is a screenshot of investing.com's report.
The news release today did not have a big impact to move price enough to trade. Tomorrow, I hope all of the housing reports move the usd so I can get a nice trade on it.
Friday's news trading taught me a valuable lesson. I had taken multiple trades on USD news by trading the gbp/usd pair right when the news came out. It was working until the last 2 trades. The pair did not respond well to the news and I lost. Today I captured screenshots of gbp/usd, AND gold/usd. A fellow trader pointed out gold's predictable reaction to the news, and it seems more reliable than the gbp/usd, at this point. I will trade gold this week on usd news and test it. Here is the news report from Friday showing usd getting bullish results.
And here is gbp/usd. My entry candle started to drop, as I expected, but then it turned bullish and I lost the trade.
Here is the same 30 min time frame for gold. Had I taken a put at 8:30 here, I would have had an easy ITM
I have two itms today. The first one was a reversal, and the second was a nice pullback I found simply with price action. I ignored the indicators on that one...
I have been looking at trend trades today with the Williams AD indicator. I noticed that I can draw trend lines on the indicator. Later, I learned that a 20 moving average acts as a trendline most of the time.
I was just experimenting now, because I have a weekly trade on gbp/usd that I am waiting to expire, I hope to come back with a nice report on that one Friday.
For now, I have two itm's today with the williams AD.
I've been waiting for a news release for the usd so I could trade the gold/usd pair. Today was the day, and it worked out great as the data was lower than projected.
I entered a 30min option at the open of the candle marked with the white arrow. You can see that the news had a nice effect, because it made gold rise for one candle in the middle of a downtrend. (possible help from s/r area as well )
I had some excitement to end the week. I had a losing trade that I should have re-entered a martingale trade on, it would have won. Then I had another loser that I did martingale and won, and finally a very nice trade on usd news.
First is a chart of my OTM. I was too chicken to martingale it, but I am getting over the fear. I saved a screenshot of what happened next, wouldve been an easy ITM...
And my favorite trade of the day is another winning news trade....
USD had a positive number released on new home sales. I chose to trade gold/usd because this pair reacts predictably to news. The dollar was stronger than gold at this time, so I took a 30 min put. ITM.
Comments
Hit me up on skype at Brymcafee (McAllen TX)
www.tradingaxis.com
First, my ITM from this morning...
I guess this could have been almost a waterfall, but I thought it was reversing before it would fall more.
Hit me up on skype at Brymcafee (McAllen TX)
www.tradingaxis.com
The dotted line is my strike price level. The "X" is the expiry candle. You can see if MW price really lined up with the true price, I would have won that trade.
It went well. Only made a few bucks. I am still learning how to trade the news with Nadex effectively. News was bad for usd, so I bought gbp/usd.
Forex factory listed just the positve news for oil today. I traded oil to drop in price but it went up. I checked out investing.com's calendar, and I think I see why. Two other numbers, both red, probably pushed it up. I will be using their calendar for my news trades from now on. This is a screenshot of investing.com's report.
The news release today did not have a big impact to move price enough to trade. Tomorrow, I hope all of the housing reports move the usd so I can get a nice trade on it.
Today I captured screenshots of gbp/usd, AND gold/usd. A fellow trader pointed out gold's predictable reaction to the news, and it seems more reliable than the gbp/usd, at this point. I will trade gold this week on usd news and test it.
Here is the news report from Friday showing usd getting bullish results.
And here is gbp/usd. My entry candle started to drop, as I expected, but then it turned bullish and I lost the trade.
Here is the same 30 min time frame for gold. Had I taken a put at 8:30 here, I would have had an easy ITM
price action only...
I was just experimenting now, because I have a weekly trade on gbp/usd that I am waiting to expire, I hope to come back with a nice report on that one Friday.
For now, I have two itm's today with the williams AD.
I entered a 30min option at the open of the candle marked with the white arrow. You can see that the news had a nice effect, because it made gold rise for one candle in the middle of a downtrend. (possible help from s/r area as well )
First is a chart of my OTM. I was too chicken to martingale it, but I am getting over the fear. I saved a screenshot of what happened next, wouldve been an easy ITM...
USD had a positive number released on new home sales. I chose to trade gold/usd because this pair reacts predictably to news. The dollar was stronger than gold at this time, so I took a 30 min put. ITM.
The first arrow up was OTM, so I took a second trade on the next candle, the second arrow was ITM...