EURODOLLAR 15 MIN 5-13-07

NOTICE HOW THE 15 MIN FORMED A BULL PIVOT ABOVE 50% FIBONACCI.

NOTICE ON THE 4HR THE CONJUNCTION OF 50% FIB WITH THE TOP OF THE RANGE BAR.

IF YOU ENTERED AT THE CLOSE OF THE 15 MINUTE (PB) WITH HIGHER VOLUME, AS YOU SHOULD HAVE, AT THE PRICE OF 3517 AND PLACED YOUR STOP OH, SAY 6 PIPS BELOW THE LOW OF THE SWING BAR WHICH HAS A LOW OF 3508, THAT WOULD MAKE YOUR STOP 15 PIPS.

THE ULTIMATE TARGET, 4HR 3 BAR, IS 40 PIPS AWAY AT 3557.
THAT'S A REWARD RISK OF 2 1/2 TO 1. WITH HIGH PROBABILITY.

NOTICE HOW THE 4HR PERFORMED A TEXTBOOK CONTINUATION BECAUSE, WELL IT RIGHT OUT OF YOUR TEXT BOOK.

SEE HOW, WHEN YOU STUDY THE TEXT BOOK YOU KNOW WHAT A RANGE BAR IS AND YOU KNOW WHAT A CONTINUATION PATTERN IS YOU KNOW WHAT FIBONACCI IS. THAT'S YOUR FOUNDATION. THAT'S YOUR SKELETON.

NOW I ADDED FLESH TO YOUR SKELETON WITH THE 15 MIN PIVOT ENTRY TECHNIQUE .

I EXPECT THE GBP TO PERFORM A SIMILAR TRICK OFF 38% FIB. THE CHF HAS ALREADY DONE SO OFF OF 50% FIB.

SO NOW, THINK ABOUT THIS. I GAVE YOU 5 FORMAL TRADE CALLS ALL PROFITABLE. I'VE GIVEN YOU AT LEAST THAT MANY INFORMALLY JUST BY SAYING BUY AT THIS LINE OR SELL AT THAT LINE.

SO DO YOU BELIEVE CYCLE MONEY MANAGEMENT IS REALISTIC? DO YOU BELIEVE IN MAJIC? TRADING MAJIC...IF YOU DO NOT YET YOU SHALL MY FRIEND YOU SHALL.

IT'S A WISE TRADER INDEED THAT UNDERSTANDS THAT IT'S NOT JUST ABOUT THE TRADES A SYSTEM GETS YOU INTO, IT IS EVEN MORE VALUABLE FOR THE TRADES IT KEEPS YOU OUT OF.

IF YOU HAVE QUESTIONS YOU WILL BE ASKING WITH SUBSTANCE...A FOUNDATION FROM WHICH YOU CAN SEE...A PEARCH FROM WHICH YOU CAN ACQUIRE VISION.

THE MAN WHO CLIMBS THE TREE NEED NOT BE SMARTER, BECAUSE HE IS HIGHER UP, HE CAN SEE FARTHER.

I...AM...JERRY...THAT...IS...ALL... (LOUD LAUGHTER)

RATIONAL FOR POUND TRADE

SEE ATTACHED CHART

ULTIMATE TARGET IS 3 BAR BUT FIRST AREA OF RESISTANCE IS 9850 BECAUSE OF A CONJUNCTION OF RESISTANCE LEVELS THERE.

MOST TIMES I WILL GIVE YOU THE 1ST LEVEL OF RESISTANCE BUT THAT MAY NOT BE THE ULTIMATE TARGET. MAKE THE MARKET PROVE ITSELF BY CLOSING ABOVE FIB LEVEL, BELOW IS THE TRIPLE CONJUNCTION OF WHICH I SPEAK.

PRIOR BOTTOM, 38% FIBONACCI AND LOW OF PRIOR BEAR PIVOT BAR #4.

IF CLOSE ABOVE FIBONACCI 38% ON HIGHER VOLUME PLAY YOUR CONTINUATION RULES BECAUSE NEXT STOP IS 3 BAR WHERE THERE AWAITS ANOTHER BOTTOM WHICH HAS NOT BEEN TESTED.

IF CLOSE ABOVE THE STATED FIB LEVEL, WAIT FOR A BULL PIVOT BOUNCE OFF THAT LEVEL ON 5 OR 15 MINUTE. THEN PLACE YOUR STOP BELOW THE 5 OR 15 MINUTE SWING BAR OR BELOW 38% FIB, WHICHEVER IS LOWER.

THEN YOU WILL TRUELY BE A SPARROW. DON'T WORRY ABOUT MISSING MOVES. THERE ARE TOO MANY TO SWEAT IT. THAT IS...

IF YOU'RE TRADING "THE LAWS OF CHARTS AND MEN"

JERRY
Email me! click here

TRADE UPDATES FRIDAY 5-11

It appears that I made a mistake in my numbers when I calculated the closing price of Usd/Chf trade. The closing price should have been 2181 which means the trade was actually positive by 7 pips instead of negative 2 pips. I placed the closing price at 2190 instead of 2181. Sorry, That means out of the 5 trades there were 0 losers at the close of Friday's trading.

The updated numbers with more detailed information is at the link provided. I mean, it would probably be a little more helpful if I posted whether it was a long or short entry. Please forgive me for rushing, Once again a case of doing too much to fast.

But it breaks down like this; 5 trades all profitable, no losses. 2 trades would still be open if not for the time stops and they are more profitable at this writing than they were when the time stops were executed.

The trades achieved a roughly 2 to 1 reward to risk when you consider how far price went against you before turning profitable. These were conservative targets as my intent is to get you in the position of playing with house money (profits) then I will get more aggressive when you won't be risking your starting capital. Your winnings can be used for your stops. Then you can take a little more risk.

I have taken this approach because many of you have told me that you are trading mini accounts. That means your objective should be first build up your accout to say, double your initial capital.

118 pips is not a lot for a mini account trader but trading full contracts that's $1,180 in one week. That's why most mini accounts go broke over and over again, because traders feel they have to hit home runs to make it worth their while.

Even though we want trades with a 3 to 1 risk reward you can compound the same way with a 2 to 1. For example; with these 5 trades, if you had added an additional contract after each win you would have earned.

In my next post I'm going to show you how powerful small profits can be.
So, I'm going to give you an example of how money management is the real key to success. It goes hand in hand with trade management. So, look out for that post.

I'm going to use the example of the 5 trades I called for you and how I used compounding to keep my risk next to nothing. I call this my CYCLE APPROACH TO MONEY MANAGEMENT.

In case you are wondering, the original targets for the GBP and the CHF trades are still the same. Just because I don't feel comfortable holding intraday positions over the weekend doesn't mean you have to.

I've just had some bad experiences with gaps against my position with weekend breaking news. You know, like wars, assignation's, death of key political figures, Tsunami, you get my drift.

So, if I think a target is still far enough away to make the trade worthwhile, I will look to reenter the position on the continuation rules and that is the case today Sunday May 13, 2007 with the GBP and the CHF trades.

I will not consider an entry until after the close of the 1hr bar for Monday, which is 9:00 pm est. At that time I will be keeping an eye out for intraday pivots off of Friday's closing prices.

If I reenter I will update you.


CLICK HERE TO SEE LIVE TRADE CALL RESULTS AND STATISTICS.

JERRY
Email me! click here

LIVE TRADE CALL RESULTS

CLICK HERE TO SEE LIVE TRADE CALL RESULTS AND STATISTICS.

JERRY
Email me! click here