Trader Brown

Nice signal!

2007-09-04T15:32:00.000-04:00

Closed out a nice short from Friday for profit of 88 pips! Then got another signal for long at 3574 still in at 3612 I will hold this for the next few days and see where it goes.
I started trading my live account just micro lots. If all goes well this month I will escalate to standard lots in October. Interesting to see what NFP will bring this Friday.

Ok back LIVE :-)

2007-08-16T09:20:00.001-04:00

Some quick thoughts on the eur/usd last few days been a lot of dollar buying against the euro. I did not expect it to be that strong but oh well. We could possibly see a pullback today some euro buying till tomorrow and maybe at the london session a continuation downward. I will be prepared for that. But we could also see the beginning of a actual reversal and continuation of the bullish movement (see the weekly chart). I will also be prepared for that.
My philosophy is simple "Trade what you see" I've blown many accounts trading what i hoped to see and did not see it. So if the daily chart tells me its bearish then i will take bearish trades off the 4 Hour chart and visa versa.
It's good to be back writing my accounts of the forex markets. I hoping to go live again with my account in October but of course thats dependent on how things go the next few months on my demo. Wish me luck :)

1 week later

2006-09-22T17:19:00.000-04:00

1 week later finally EUR broke upward how's that saying goes, "good thing comes to those who wait" I close my long position with 109 pips my biggest win yet. As you can see from the chart I already have a sell signal so now i am patiently in a sell position. We'll see what next week brings.

WAKE UP Euro/Usd!!

2006-09-15T23:58:00.000-04:00

I just wanted to say "HI" it's been some months since my last entry SORRY :(
But not to worry I'm still at it trading and watching the markets. Dreamin of my first million :)
August marked one year of trading for me!!! and i havent given up. One decision I made was no more changing my chart the tools I'm using I will continue to use and master. I believe I have all that I need to be successful. I'm past the phase of testing every tom dick and harry indicator.
Anyways been trading lately off the daily chart and waiting for that big break upward the EU playing head games this week. I've been sitting long since Monday. I hope to see some rallies next week. Let's hope 1.2640 support will hold.

ZigZag!

2006-02-21T10:50:00.000-05:00

4h chart i have a channel (SHI channel) and zigzag, i use this chart for trend (trend is definitely my friend)
1h chart i have a channel, zigzag and S&R levels (pivot points)
when the zig or zag appear it usually reaches near a S&R level and these levels are tested and if a rebound occurs you know its time to buy or sell
im trying to focus more on the 4h chart and just use my 1h chart for entry and exit. Even if your timing is not right in entering the trade (S&R levels tested and further break occur) the trade will almost always go in you favor eventually just have patience.
I like working with zigzag it measures price movement (bar charts can get pretty congested at times)
by the way on the 4h chart the last zigzag notice the color difference (which i call the zag) is my self-made trendline im predicting price direction (positive thinking ) the real zag will eventually show up.

testing testing testing :)

by the way ive been going short on eur/usd since monday

Retail sales better than expected

2006-02-14T12:52:00.000-05:00

hello all I am back its been a busy few months i just moved and been settling in my new home here but not to worry I'm still trading every day. If you notice my chart above i've made some changes. I tested trend manager but concluded that the colors were simply in the way of the price. I focus on price movement support and resistance more than anything. i dont need indicators that color code the downtrend and uptrend using zigzag it tells me where the trade is at and possibly going.
I am trying to trim the fat and get rid of indicators that are simply not helping me but only taking up space. The best leading indicator is the price so make room to see the price and its every move :)
Today was a good day of trading for me. I woke up and prepared my fundamental and technical research and was ready to trade at the NY open. I've reading some material from Rob Booker a famous forex trader and his info made a lot of sense. I will focus on simply making 10 pips a day.
With 10 pips a day you can turn 10,000 into 180,000 in a year, yes 10 pips a day! If i can make make pips profit will follow. I'm learning to not focus on how much money i want to make in a day just make pips! I only make 1 or 2 trades a day nothing more. I know the key to becoming a successful trader is learning discipline and self-control and i am on that road. By the way I still only trade eur/usd.
Retails sales results came out at 2.3% which was better than expected that gave me the signal to sell I ended that position with +17 pips (ok i went a bit over the 10 pips) even though there were more pips on the table i left it alone and celebrated my win and now onto the next day, remember say NO to greed.

Testing Trend Manager

2005-12-10T09:31:00.000-05:00

hi folks sorry for not updating my forex blog I've been somewhat distracted but still trading nonetheless. I've still testing different timeframes I'm now juggling between H1 and H4 charts I also decided to stop using candlesticks and now using pivots. I'm testing new system using Trend Manager (see pic attachement).
I will keep you posted next week on my results :)

the good the bad and the UGLY

2005-11-18T02:21:00.000-05:00

I'm back boy it was a rough week to say the least i had many losses i learned some hard lessons. I'm in the middle of changing my trading style to best suit me. I learned that intraday and scalping is not my cup of tea and so i will test the longer time frames (H4 and weekly) and try swing trading actually my goal from the start was to learn to make 100 + pips and not just 5 here 10 there with longer time frames I should be able to do this.
My biggest downfall was simply overleveraging and overtrading, every day at some point i was playing catch up after a major loss and the last few days i could not get a significant win :(
oh well i think it was a blessing in diguise (sp?) Sometimes in life you have to hit bottom in order to build right the next time.
So i will continue to trade eur/usd but using H4 and weekly charts and stochastics. Also I will stick to a strong money management rule and will not risk more than 3% of my account on 1 trade. I will keep you posted on my results :)

2005-11-14T17:08:00.000-05:00

All charts were pointing toward the bear today, I got my one and only signal from my 1hour chart this carried through the day into the NY open, the movement did end earlier than i expected around 5pm there was a reversal, a nice rally for those countertrend riders.
I was a bit fustrated because of some bad trades I decided i would lower my lot quantities trading the euro open, i find the euro open typically more rangy and therefore higher risk. I will then increase my lots for the ny open which i find more predictable. Overall today was a profitable day when I include all my losses i still end the day 19 pips saved by the bell :)

Zzzzzzzzz

2005-11-12T03:34:00.000-05:00

Friday market conditions were very flat (specifically eur/usd) many traders waited patiently for any possible breakouts but none were offered, actually a small breakout showed up early evening (in my time zone) but i was not there to catch it, I was tempted to setup a limit stop order but figured its Friday and the market will not pick up again. I was able to do some scalping but that to proved in the end not profitable. I ended the day -1 pips oh well you win some and you lose some. I was able to protect my equity which is very important. I learned that somedays its better NOT to trade and just do something else.

consumer confidence rosed to 79.9

2005-11-10T12:22:00.000-05:00

Rough day i had some bad trades with the euro during the london open i found myself chasing the market a big no no. The US open brought interesting results the US trade deficit numbers were higher than expected so we got a strong buy rally with the euro but also the consumer confidence index rosed to 79.9 and maybe this is what caused the downslide of the euro and a stronger dollar. Well not a big day for me after counting my losses i finished +9 pips (dont forget losses are apart of the profession:)). Friday i decided I will focus on trading the NY open and not London open because there is a better chance to catch a trend lately london open only offering rangy conditions.

2005-11-09T16:33:00.000-05:00

looked bearish than bullish than bearish again another day on the range, Eur/Usd last few days still pretty rangy I am still happy with my results 30 + pips! I thinking of seeking lesser pips and trading a few more lots but bit concern about money management got to protect that equity, we'll see...
oh well getting tired ...check ya on the rebound.

looks bearish but ...

2005-11-09T03:02:00.000-05:00

waking up here and checking my market analysis seeing what others are saying ...i added another moving average to my 1 hour chart to give me a better reading of todays trend (if there is one) so far still pretty rangy. Right now the price is riding at resistance on my trend channel. it seem to be a bearish movement coming on, we are close to overbought signals (but of course with lagging indicators they are always subject to change) I wont take a position til I have better idea of a potential trend, otherwise things can get very dangerous my goal is to protect my equity make it grow and not lose it. If I could get away 25 pips today i will be happy.

Nov. 9 (Bloomberg)
The dollar also may drop on speculation rising interest rates are making mortgages more costly, curbing home sales and threatening to slow economic growth.

Scalp Day

2005-11-08T11:47:00.000-05:00

well not much action today with eur/usd, because of riots and unrest in France I thought this might do some damage to the euro but i guess the euro is not so easily swayed. i made bunch of trades today but today was very rangy, i pursued mostly tops and bottoms a bit messy but survived. I guess today was "scalp day" but I'm happy with 25+ pips. I missed a big move early this morning around 12.30am a good 90 pip landslide, got to sleep sometime.
talk to ya tomorrow time to shower plans tonight :)
By the way i always have a 5M, 15M, and 1 Hour chart open.

bull and bear fight Eur/Usd

2005-11-07T10:47:00.000-05:00

Not a whole lot of volume today on the market, news release came out that German industrial production rose 1.2% for September, maybe this is what cause the bulls to win the fight for a moment. Looks like plenty of retracement possible nice downward fibs would come in handy, but i am tired i think i call it a day. I made more trades than i wanted but happy with the results 44 pips :) I pulled out of one trade because of fear losing about another 20 pips oh well we live and learn.
By the way most my trades will be Eur/Usd due to the small spread.

2005-11-06T16:56:00.000-05:00

I attached a chart of my system visuals always help :)
Currency pair Eur/Usd from Nov 4th after non- farm payroll release very quick rally followed by strong bear downward movement. I jumped in on the rally at a terrible price :( thought the price movement was stabilizing and commited upward but it dropped and because I overleveraged my account I hit the margin and my position was liquidated :( my greed got the best of me. But I did not give up I jumped in on the reversal move I paid closer attention to support levels and recovered 50 + pips to end the day with positive pips. Saved by the bell. I'm still learning the lesson to cut your losses short.

2005-11-06T16:26:00.000-05:00

Welcome!

2005-11-06T15:37:00.000-05:00

This is my first Blog so give me some time to warm up :)

Just to give you some reasons why I created this Blog, I've been trading the Forex Market since August '05 so I am fairly new but excited about the potential this market offers. I've actually learned alot so far and always learning something new. The market really exposed the holes in my character and forces me to do self-examination. I've visited many Blogs and was inspired to start my own.

Little about me

I'm a Systems Engineer by trade, I worked the last 8 years in many different companies in the USA and Germany I am currently taking a break and putting my time in trading because I find it very interesting and the financial potential is huge. I also have spent the last few years in a number of investment opportunities so I am use to living the life of high risk :)

Little about my trading technique

I've tried about every technical indicator known to man everytime I find a new indicator I will compile it in Metatrader 4 but after back testing and many losses I have concluded the following:
I base my trades on Support and Resistance, Trend Channel, News, Pivots, Price movements, I use Stochastic (5,3,3) and Juice (measures volatility) for further confirmation.
It's simple I look to enters trades at support and resistance levels I use Stoch for overbought and oversold signals and juice for high activity. I always focus first on S/R and price then I use Stoch and Juice for further confirmation. I also keep my ears and eyes open for news releases.

What will you find here?

I will start a journal of my trading, I trade Monday-Friday I never skip a day. Everyday is a adventure for me on the market I have victories and defeats being that I am new I still have more defeats than victories but I am still trading :) the goal is to become more and more consistent and yes I do trade a live account, I use to demo but lets face it the true test is with REAL money, so I'm willing to take the risk to learn every aspect of the trade especially the emotional side.
Since I am not working a normal job I will try daily to update this site and let you know the good bad and ugly of my trading.
I will probably offer other info about myself as time passes, like what's going on in my life. There is life beside trading :)