I didn’t see any setups this morning and I have a medical appointment this afternoon.
No trades today
4 commentsFrom the category archives:
Trading
July 14, 2011
TEK Trading
July 14, 2011
TEK Trading
http://screencast.com/t/zzsZND3b
Just the one trade today and that on EUR/USD off the 1 hour chart. I set the stops at 50 pips and exited for 46.9 pips profit. There were only 10 more pips more or less in the move, so, for once, I exited at about the right point.
There was a nice setup for Oil just before a news event, so entry would have been very risky and I let it pass.
0 commentsJuly 12, 2011
TEK Trading
2 trades today.
A losing EUR/USD trade. Evaluating the trade it still looks valid to me. Sometimes valid trades go against you and I feel that is what happened here. The stop loss was 30 pips.
A winning Brent trade with a 50 pip stop loss. I exited this far too early, probably due to a negative reaction to the previous trade. Conquering emotions is one of the hardest things to master for a trader. Still nearly recovered the previous loss though with a profit of 26 pips.
http://screencast.com/t/IWuA0irdRnDG
So an overall loss of 4 pips.
I understand from Graham that there only a few places left. The intent of this trial was to show some real-time TEK trades from someone without a vested interest. I hope you can see that TEK does work. Some errors and pitfalls are expected along the journey to profitable trading.
0 commentsJuly 11, 2011
TEK Trading
I have been poorly over weekend and feeling poorly today. Detail isn’t required here (trust me on this) but it’s probably a virus. Unlikely to trade today, hopefully back on track in a day or so.
0 commentsJuly 7, 2011
TEK Trading
A difficult day’s trading for me as there have been lots of heavy hitting news events at regular intervals. I didn’t see any tradable patterns on AUD/USD. I did manage to hop on a Brent oil trade towards the end of my trading window.
http://screencast.com/t/vqCOdB6fvvc
I set the Stops on this at 35, 40 would have been prescribed by the method. The trade made 93 pips (£930 at £10 per pip), more pips were available but I slightly messed up my target, which would have been 100 anyway. 100 pips on a move should be enough for anybody!
I have been trading this for 6 days now. My pip total is 162.9 pips for £1, 629 profit at £10 per pip.
As stated earlier in the week, as tomorrow is Non-Farm Payroll I won’t be trading tomorrow.
0 commentsJuly 6, 2011
TEK Trading
I am calling it quits a tad early today. I only got one trade today and that was on AUD/USD.
http://screencast.com/t/vYiLxOLAHar
I did miss a fine setup on EUR/USD for 60 pips. Oh well always next time!
Stops on the AUD/USD trade were 20 pips, and I took 17.2 pips of profit for £172 at £10 per pip. The momentum showed signs of exhaustion and this was a safe exit.
Oil gave me no setups today off the 1 Hour chart.
0 commentsJuly 5, 2011
TEK Trading
I wasn’t around much this morning due to some health issues.
I also want to put a marker in the ground now that I won’t be trading on Friday. Friday is Non-Farm Payroll day (NFP) and the ForEx markets act very strangely around this news event. I never trade NFP day, and have said so on previous ForEx reviews I have trialled on here.
http://screencast.com/t/p2hs6dX9
A successful day with 47.7 pips, for £477 at £10 per pip.
The stop on the AU trade was 35 pips, however I closed this trade once it became clear the trend had completed and the price had become range-bound.
The stop on the oil trade was a massive 150 pips. The Brent chart started to indicate the move had run out of momentum so I exited the trade. Had I stayed in at least another 74 pips were available, but I still feel that the decision to exit was the right one given the chart pattern.
In neither trade were the stops under any sort of risk.
As I stated at the start of this trial, a consistent target of 30 pips per day is good enough, so today exceeded this goal.
I am convinced that TEK Methodology works. However, be warned, this will take both time and effort on your side (it is well worth the investment of both). The TEK Methods are simple, but ForEx trading is not easy. I see from the proposed agenda that Kyle will address this on the day.
0 commentsJuly 1, 2011
TEK Trading
There was a 60 point move on GBP/USD I Missed yesterday morning, and an equally nice move on Oil. I just couldn’t get my game head on yesterday, so I gave up and didn’t trade at all. This is the safest option and it is better to do this than have losing trades.
I am at a funeral today (Friday) and Monday is the 4th July holiday in the USA and therefore a no trade day for me. So I’ll pick this back up on Tuesday.
0 commentsJune 30, 2011
TEK Trading
Wasn’t around, so missed an entry of the 1Hour AUD/USD that would have netted 30 pips and a move on Oil of over 100 pips. As it was the move I did take as a mere 84 pips.
I have had a little trouble yesterday getting the stakes on that I want. My Broker appears to only operate in stakes rounded to a multiple of 10p. On Tuesday I used 30p instead of 22p, and yesterday 10p instead of 14p. Hence the statement below isn’t an accurate reflection of the profit. However, it does show the pip totals and so is with showing.
So the total is 37 pips up over the 2 days. However, using Kyle’s stake plan this translates as £1.88 profit, using the cash-master standard £10 per pip, £370.
Had I taken the 130 pips I missed …
http://screencast.com/t/jbkBz5Cim
0 comments
June 29, 2011
TEK Trading
You might just know it, the first trade was a loser. Actually though there were two reasons why the trade should not have been opened. To make matters worse, about 30 minutes prior, there was a valid setup that would have netted 50 pips that I missed!
The upside is I recognised the pattern, so if we can knock these newbie mistakes on the head, we should have a successful trial
http://screencast.com/t/xZ1wFBNjfxf8
This was a trade off the 5 minute chart as I was around and looking at it.
My first reaction to TEK is that it is a very strong set of methods, loosely based on principals that have been around the financial trading arena for many years. Anything that has stood the test of time in this caldron has some gravitas to it!
As stated above I missed a lovely setup for 50 pips, and there were other missed opportunities yesterday too. Looking backwards, I can see that a target of 50 to 100 pips per day would be possible, but a more realistic target of 30 pips or so is definitely achievable. 30 pips consistently per day at £10 per pip is £300 per day (tax-free if you spread bet). 20 trading days per month, this is a tidy income and a very achievable target using TEK techniques.
The trick is to show this type of profit moving forward. Hopefully I can, but I am bound to make mistakes similar to the mistake made above as I learn to apply TEK methodology to my trading.
Another thing that concerns me given the short-term nature of this blog; the Greek Financial Crisis vote is 90 minutes away as I write this. Passed or rejected this is a market moving event that will have ripples over the next 24 to 48 hours, possibly beyond (some Commentators forecasting the beginning of the end of the Euro!). This is going to make trading for the remainder of this week tricky for even experienced traders. Being aware of the news and political events is key, because of this I am suspending my personal trading this week, but trying to keep this going!
3 comments
