Three fours

That's all for the morning. The third trade could be entered earlier, more safe.

I stopped after the third and didn't take the typical London opening reversal ("Big Ben") who followed.

"The market takes off!.."

I still do newbie mistakes, after 4 years in this market. I took the second trade in the fear to miss the move up, got a -15 quickly after entry and freezed like a cat under car lights. Price resumed up and closed the trade on the next turn down with a loss of 7.

Going up

Late entry

I could enter much earlier on the third trade, the previous strong uptrend gave me the (false) conviction that it was a small correction down and that should end soon. We should trade the nice price moves here, not our convictions..

Lazy Monday

That's all for today.

Simone Dinnerstein

"Put this CD in your player and take in the 5 minutes 40 seconds of the first Aria; if you are not hooked by then you have the least addictive personality in existence.." wrote about this marvel a guy from Denmark.

How a modest piano teacher from Brooklyn can give such a tremendous interpretation of Bach's Gorldberg, which can stand side-by-side with the best ever interpretations of this masterpiece made by the biggest, like Gould, Perahia or Tureck? That's a big mystery, or the total dedication of a woman who started from zero, who had to self-produce this cd, to communicate her vision : a Bach in a more human aspect, more feminine perhaps, where silence is as important as the notes are...

I bought the cd two years ago, I have listened to it more than 50 times maybe, while I trade mostly. I can sing now some of the variations from memory.. What is common between this divine music and the waves on the charts? Harmony..

Expectations

Closed the third trade correctly, with a small loss but I risked 13 pips on the next one. The expectation that the hourly breakout is imminent, can be fatal. I was lucky and got my breakout finally but i could be not.

My 'method" doesn't really need breakouts to give a gain. On the contrary, there is a potential loss if i chase them : it is more probable that my tight stoploss (which I skipped here) will be reached around breaking points, due to indecision.

False breakout

I waited an eternity in the range to break, I took a direction and had 5-6 on hand but wanted more : price made a number of lower highs and gave me a loss... The pips came later, by taking the correct breakout.

Busy day

Missed the morning session and the nice move up. Just these two trades today in the afternoon.

Quiet Monday

My 5 for today.

Pasodoble

Had an excellent hour today with this cd. Bassist/cellist Lars Danielsson with Polish pianist Leszek Mozdzer. Superb. European jazz at his best.

"Deep taste , great interplay , empathy , hearts in hand".

When two lines meet in one, as on the cd cover..

The reader (2008)

I am bored to death with Hollywood films, I always avoid them like my sins, but I made an exception and went to see the Reader. I had read the original Bernhard Schlink's excellent book before, which gave this adaptation. I am a big admirer of this writer and many other Germans, nobody can write such a limpid, naked prose like Schlink does and many of his compatriots. In my surprise, the film was as good as the book!..It was made by Stephen Daldry, the author of The Hours and many other gems. But the real shock came from Kate Winslet, who gives a masterfull performance. She plays a former Auschwitz guard in post-war Germany, in a way that you cannot forget her easily...An unforgettable composition, full of strengh, details and nuances... Kate is the greatest!. The film is exquisite, the reconstruction of atmospere of Germany in the 50's is magnificent..

Repetitio est mater...

This post if for Ryan who wrote in the comments that I do "great trading as always". Nothing less true than this. I worked hard to get a level of consistency but I did, and I continue to do, a LOT of mistakes in trading. In this blog there are a lot, I took the time to collect some in a new label, the Trades : the ugly ones. You can find there all the silly or capital mistakes you can imagine...By reviewing these, I felt the effect of evolution : the recent mistakes are less important that the older ones. That's my reward. This is also the effect of adopting a more strict scalping attitude : controlling the risk exposure. I should read this mistakes companion every day, before I start trading...Repetition is the mother of learning, as the Latins said. Hope that this can help you, too..

Ending the week

Only these two for today. The weekly quota (25 trades) is surpassed and I have to stop, i have also to protect the gains of a remarquable week. Most of my mistakes happen on a Friday...

Move up

Closed the second trade prematurely, under the "roof" of several trendlines. Then pips come naturally as price, after a profitable correction, moved up in a steady pace. 31 pips on 6 trades and done for the day.

Good and bad

Two late entries on this and two good ones. That's all for today, 24 pips gain with 12 trades (quota of 5/day was largely violated).

Limited risk

The effort to end the day whithout losing trades makes me close many winners with minimal gains, as on today's chart. No risk means also no fun!... But it took me several years to understand that this is a job, not a mad night at a Nevada casino..

Three only

Just these three for today. 28 pips in total. There is more potential up probably, but I don't care, I am closing charts to enjoy Trevor Pinnock's sublime work on Bach. Trading is only a tool to make a living, not the purpose, the purpose is to enjoy the really important things in life..

Previous low

On the first trade, I went for the first reaction at the previous (hourly) low. The trade went to +12 and closed there, because a re-test of the low was very probable, as it happened finally. New reaction at the low and then a smooth and quite breakout followed and I had some additional pips in the strong direction. Totaling 30 pips and stopping for the day.

And this

The last ones for today. A moderately profitable day (2,26%) but too many trades again.

Previous high

During my trading hour price came in the vicinity of an important previous high. In this case the results are muted, as long as no spectacular breakout takes place. One wrong trade on this : previous high rejection takes much more time to develop, there is no hurry to go for a breakout immediately after the first rejection.

Some pips

Busy day, I had three little trades only, among other things. I will be more relaxed tomorrow.

Mediocre day

The third trade was premature by 1 or 2 pips, that was enough to give a loss, and then to compromise the trades that followed. 5,5 pips gain of all this, that means break even by taking account of the commissions. Too many trades today and a mediocre performance besides the nice swing.

Quota reached

After the previous session I had a pause and missed the nice move up. Two more trades to reach the 5 and call it a day.

30 minutes session

Riding the tide up. 25,4 pips total.

Speed up

A trend is profiling, but I made my 5 trades for the day (29 pips in total) and I am stopping now.

Quiet (?) Monday

Some pips on the usual for an early Monday swings.

Fooled, indeed

I had nice moments in the weekend with this superb book. A brilliant Lebanese cosmopolitan, Nassim Nicolas Taleb, gives a stimulating and very amusing insight on probability, business and, mostly, trading. What if our success is pure luck and no skills or hard work? The book helps everyone to take himself less seriously..

Maria full of grace (2004)

Watched on tv this splendid little indie film from Latin America. The fate of a poor teenager in a province of Colombia. Exquisite Catalina Sandino Moreno won first prize for best actress at Berlin Festival. The director is Joshua Marston and this is his first film. It reminds Ken Loach's films, but it's better!. Just four pounds for the dvd on Amazon uk right now.

More!..

...I could not resist to continue trading, on such a beautiful volatile day. But these are the last ones. 11 trades in total, 73 pips and 18% on account are more than enough for the day. Time to enjoy the weekend.

And this

That makes 7 trades in total for today, the quota was violated, i will stop now for the day.

Post-NFP

..

I risked 10 pips on the first, to make 7...Late entry is always risky..

Pre-London

On the first, I had 10 pips on hand, I wanted more and finally lost 3...The second entry was spot on, after the small consolidation's breakout in the direction of the trend.

And this

My quota of 5 trades/day was reached, should stop here. 18 pips in total.

In the range

I came late to my deck and missed the pre-London move up to re-check 138.00. So I had some small trades inside the (large) consolidation.

One trade only and June plans

In May i had 230 trades in total. That means 150 pips lost in commissions ( several thousands euros). I should trade less, otherwise I work for my broker. A well known axiom : the more you trade, the more the casino has the edge over you, no matter what system you use (even the best in the world), because of commission (trading) or fixed margin (casino and all gambling games).

The plan for June is 5 trades max per day.

One trade only for today. Busy schedule again.

Rambling around

Some pips here and there, no obvious trend, but there is no need for this, as long as the moves have more than 10-15 pips width.

Busy day

No time for trading today, I watched the charts for half an hour only, while price was moving slowly up, hesitating around some fibo lines.

And this

That's all for today.

Flat

I came late on this, while trend was exhausting. Whipsaws to taste. Total -6,8 pips.

Fibo 50

Got some additional pips while price was approaching the important fibo line. I always close an open trade on a situation like this. Didn't have the time to catch the reversal. Done for the day.

Pre-London

Risked some on first trade, the rest was easier.

Back

Back to the charts, after some spendid days in Tuscany.

On the road

That's all for today, I am leaving for Italy, no trades for the next few days.

And this

And the easy pips came (again) after the consolidation break. Done for the day.

Risk

Risked 12 p on the third trade, as i was certain that the higher low was imminent. Certainty is the sure way to perdition, not only on trading..

Way to go

...then range was broken and I had my easy pips.

That's a range, stupid!..

I came late to the monitors today, missing the nice move up around London opening. I insisted to trade inside the consolidation phase... a lot of pain for a 3,5 pips gain, payed more on commissions...

Friday's close

Closed early some trades and hesitated entering some others. Friday's close nervosity. Done for the day/week.