So I had 3 valid trade setups on my day-trading portfolio. The first was a Gartley pattern on the AUDUSD and the other 2 were structure and ratio based setups on the NZDUSD and the GBPUSD.  As of writing this both the GBPUSD and AUDUSD trades were losers and the NZDUSD is still in progress roaming around the breakeven mark.  With that being said I have no regrets over all 3 trades so all in all it has been a successful day because I didn't make any mistakes.  There were a few other Gartley and Bat patterns that were close to completing but the market reversed which invalidated the entries.

On the longer term side of things, I took a short entry on EURAUD because of a double top with RSI divergence. Personally I wasn't really a fan of the setup due t the lack of structure, but when I added up my score (CTS System) it told me that I had to enter. So we'll see how it plays out. In the past its often the trades that I don't want to be that win so hopefully that's the case. On the flip side there was a really nice setup on the EURGBP that I wanted to get involved in but couldn't because of my rules.  I still may have a chance later in time if the market decides to comeback and retest but we'll just have to wait and see.  So that's about it for today. The two longer term positions in the USDCH and NZDUSD are still in progress so the pip total for today is -72 with 1 trade still going. Since I didn't trade yesterday that's the weeks total as well. 

Ann Stewart-Moore
11/22/2011

Hi Akil, Thank you for charts and blogs, great site...well done. You have inspired me to look more closely at the 5 min charts on some pairs for day trading as well. Have a wonderful Thanksgiving. Cheers.

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Akil
11/23/2011

Thanks for visiting the site Ann, and even more for leaving that nice comment. This is my first time using the 5's on a regular basis, but I kind of like it. Getting use to the speed is an adjustment, but at the end of the day I find it's the same principles we already know, just with less wait. Also the smaller risk, makes it a little less rough on the psychy when entering. Have a great Holiday as well.
:-)

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6/25/2012

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