Risk Disclaimer. Past performance is not necessarily indicative of future results. Trading involves substantial risk of loss and is not suitable for everyone. Not all of my trades are winners. I post them all - the winners and the losers. Often times there will be more to learn from my losing trades than my winning trades. Don't make the same mistakes I do! Learn from them. No one is open about their losing trades in this business so take advantage of the fact that you can see when I screw up. In the case below, I didn't screw up. But you can still learn.

UPDATE: I shorted the EUR/USD based on Wallaby divergence last night. I closed the trade just in the middle of the night. If you feel like you need to learn how to take these trades, then you need to go right here and sign up now before I take down the signup page.

Here are the before and after charts:

Before:

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After:

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Risk Disclaimer. Past performance is not necessarily indicative of future results. Trading involves substantial risk of loss and is not suitable for everyone. 

I posted information about this setup (as I do with most trades) on the Wallaby Twitter Stream - and teach the essential elements of every method that I use in my trading (including extending out the profit targets on these trades) in the Pivot Course. 

UPDATE: I bought the EUR/USD based on Wallaby divergence this morning. I came in late to the game so my trade size was much smaller than possible. When the pair jumped up to the 800 Simple Moving Average, I went ahead and took the profit.

Completed Trade:

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Original Trade Setup:

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Risk Disclaimer. Past performance is not necessarily indicative of future results. Trading involves substantial risk of loss and is not suitable for everyone.

UPDATE: I shorted the EUR/USD based on Wallaby divergence last night. I closed the trade just a few moments ago when it hit the 800 Simple Moving Average, which lined up nicely with the previous low on the chart below. I was hoping for about15 pips more in profit but it was time to take the money and run. Chart:

View on screencast.com »

Risk Disclaimer. Most traders lose money. Forex trading on leverage involves substantial risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. Please remember that any discussion of profits must be balanced against the very real possibility (and occurrence, as chronicled on this blog) of substantial losses.

Just an update on Sunday trades.

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RISK DISCLAIMER. Trading involves substantial risk of loss. Past performance is not indicative of future results. This is not an offer or a solicitation to buy or sell any currencies or securities or investment program. This is not a trade recommendation. See the full risk disclaimer here.

I updated you on the Twitter stream about this trade. It didn't last long but it did what we wanted it to do. I was tempted to move the stop to break even when the pair hit the blue 200 SMA but didn't do it. Glad I just took some money off the table. The trade was up 20 pips at one point - where you see the circle on the chart - but I didn't catch the exit there. That would have been the optimal place for an exit. But, as you can imagine, things don't always happen in an "optimal" way.

These 5 minute Wallaby trades can lose, as well - just remember that. I'm not making any claims about winning percentages or anything. But you already knew that!

RISK DISCLAIMER. This is not a trade recommendation, or a claim about performance. Trading involves substantial risk of loss. Past performance is not indicative of future results.

I thought I'd update you on my trades overnight, since you're probably wondering. Or at least I think you are. I took a small 5 minute EUR/USD buy trade on a Wallaby setup that I posted on the Twitter stream. That was a loss. 1.5%. I also had a USD/CHF trade, but I gave up on it and stopped out (which was a perfectly fine idea since I don't trade that pair very often and it was breaking through my stop area). Jennifer actually bought the USD/CHF overnight because she's smarter than I am.

Anyway, that's the update, and here's the trade record:

I'm not happy with the week so far - I closed the EUR/USD trade early, and that sort of took away the best trade of the week. Otherwise, I've closed the losers quickly, which is good. It looks like I'll end the week slightly positive overall. I am currently long the EUR/USD so we'll see about that.