Heirloom Trading

Heirloom Trading is about passing on my legacy to my children. My way of reading the markets works. It is about identifying opportunities in the current environment in non-traditional ways. The fact that I cannot precisely define it is why I feel my method is robust - it is a good thing that I cannot program this method. My experience in the last 20 years has been through every market condition. It repeats itself, just the volatility and speed changes. The key is to know how to trade each state.

Thursday, October 30, 2014

Tue Oct 28 - In Search of a Homerun

Long GBPAUD yesterday. D made a 2LPB which tailed on the trap test. I missed the previous day's entry at 77, but took an alternate entry when it tested the trap again and tailed. Entry was higher than I prefer due to entering on the 4H's close. Plus my broker's spread is 5 pips on this pair so I entered on 50% size.

Overnight the mkt went 33 in favor and rolled over on me. By the time I was at the charts I wasn't able to scratch. It was stopped at -0.9R.

The weakness that followed looks like this pair isn't trying to resume the overall uptrend, but is transitioning to a range or downwards. EURAUD is even weaker suggesting this may be the case.

Summary: -0.9R

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Thursday, October 30, 2014

Tue Oct 28 - In Search of a Homerun

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