Date: June 2012: ROTrade Systems Journal

Another day in the office, with chart attached in the picture bellow text.

6/7/2012 Transcript

8:52 AM at work, playing with charts periodicity a little

8:53 AM I need to put alerts before news and this weekend I`ll find a way to do that and a few more things that I have in mind.

8:56 AM Daily chart: here is the rally I was talking about last week, lets see how far up will it go

9:04 AM 28 pips range today up to this hour, nice large up move yesterday

9:37 AM 1000T chart flag, however I don’t like it and I don’t think it will break up

10:23 AM pushing up and I would say fake so I`m looking for shorts but a little higher if possible

10:26 AM I might not get higher prices on this one

10:32 AM ok come take out those silly shorts then I will get you, push higher

10:34 AM trouble is that if I short now I might fall in to the “silly shorts” category as in case its not working I must cut it just above PDH and that’s silly hmmm… what to do? what to do?

10:39 AM SHORT, taking my chances I will cut it above PDH if it goes there…quite large loss?

10:40 AM plan: if it goes above PDH takes me out and then turns back I will buy it as it sounds like the most stupid thing to do which is why it might work

10:42 AM TRAILLING STOP ON, however it will not trigger if it does not push lower first and if it does I might cut it myself so…

10:45 AM I`m leaving this one like it is set and go in the kitchen

10:54 AM OUT, that’s how far I can “predict” it

10:56 AM yes I know I am not doing the right thing, again I cut profits but…kill me… what can I do

11:10 AM it should fall bellow previous low at least

11:42 AM I would  have been “trailed out” on previous short and it looks like trying again to go up…truth or dare?

11:50 AM low liquidity, I`m still short biased for the moment but to actually short it I don’t dare, however it might be precisely the best action as if it push lower from here it will definitely do it hard, there is a channel on a 1000T chart and might go to that lower channel line

11:57 AM looking at overall 1000T chart it might make another leg up also so I will just watch until one of the two happens

12:21 PM will probably break PDH the only question is if it will just fake it or really push higher. We have strong resistance @1.2625 or around it at least

12:42 PM I have a window to short but I don’t dare as it might push up enough to make me cut it on a loss

12:53 PM I have a resistance line @ 1.2604 from long time ago, I suppose that might hold as well if it breaks PDH

1:16 PM 55DR and has plenty of time to move, quite frankly I rather see it go down now but one can never be to certain especially long term

1:28 PM going down but where is the momentum? Continue like this and I will change my mind about short side bias

1:46 PM ok sweetie now your doing the right thing going down, do it a little more and I might short you

1:59 PM NEWS hit, spoiling the game, quite frankly I forgot about this also and I really need a warning sign in real time if I don’t want to get killed by it one day

2:02 PM China cuts interest rates? That was unexpected as far as I know

2:39 PM ok so China news spoiled everything and as far as I`m concerned what will do now is uninteresting, of course this might change later

3:05 PM I’m starting to lose patience in to watching this and I give up for the day, I`m going to watch a movie and relax till tomorrow