PIPhanger's Trading Journal "I'M A BEAR"

[PIPhanger]

Welcome to my BEARISH Trading Journal!

- I will be limiting myself to Shorts only… I won’t even think about Longs.
- Wont concern myself with the missed stellar moves higher.
- No Daily Direction
- No Market Flow
- No Market Structure
- No Bias (just be a BEAR everyday all day)

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1st Week of Testing: April 29, 2012

Last Week of Testing: August 3, 2012

3 Months of Results

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I will NEVER Deviate from this plan.

I will be trading mostly London Open and occasionally New York Open.

Risk on each Trade will be limited to 1.5% and lowered when needed.

I won’t be trading during NFP Fridays and Bank Holidays.

I won't be trading during High Impact Speeches.

After taking 2 Losses I will be taking the rest of the Week off!

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This is a Trading Model that ICT has created for me to follow to help me become a better trader.
He is going to be going into greater detail with this Trading Model in the coming Months.
I will then be going back through this Model and revamping it to fit anything he adds to it.
By using this Model I will learn Market Structure, Flow, Momentum, and Market Maker Models.
I will learn more by trading this way than any other way as stated by ICT himself.
I will be trading this way for 3 months and then convert to being a BULL for 3 months.


Here is a list of things you can expect to see in this thread:
1. Screenshots of my charts, with annotations for trade setups/trade entries/trade exits
2. Text summaries of trades I have entered, and the reasons for doing so
3. general market commentary
4. general self-analysis on my psychological/emotional state

and much, much more!

Enjoy!

[PIPhanger]

My Performance...

I will be keeping track of Trade Executions and determine if I traded perfectly as my rules stated or if i made a mistake and traded againist my rules...

Executed Perfectly: 0
Executed Poorly: 1

Total Trades: 1

[PIPhanger]

Trade Example (May 15th 2012)...

H1 Chart of Cable & Fiber...



The Valid Trade for my Plan was on the Fiber (EUR\USD)...

- Day of the Week is Tuesday.
- Resistance Level from Higher Time Frame at 1.2860 and Institutional Level 1.2850.
- Hourly Overbought Condition on Stochastic.
- Judas Swing Up into Key Resistance during London Open.
- Asian Range Low and Above was Sell Entry.
- CPP and Above for Sell Zone.
- 127% Traders Trinity Extension Level.

The Cable (GBP\USD) was Not Valid for entry on this day...

- Day of the Week is Tuesday.
- Resistance Level from Higher Time Frame at 1.6120 and Institutional Level 1.6100.
- Hourly Overbought Condition on Stochastic. (NOT VALID)
- Judas Swing Up into Key Resistance During London Open.
- Asian Range Low and Above was Sell Entry.
- CPP and Above for Sell Zone.

Chart Art..

- Red Horizontal Lines are Key Resistance from Higher Time Frames.
- Blue Solid Horizontal Lines are Institutional Levels.
- Pivots (CPP is Violet, MR1 is Black, R1 is Gold)
- Blue Dotted Horizontal Lines are Asian Range.
- Blue Trend Lines are Bearish Stoch Divergence.
- Green Trend Lines are Bearish SMT Divergence & USDX SMT Divergence.
- Gray Box's are 1HR OTE's.
- Green Box's are 1HR Stoch OverBought Conditions.

M15 Chart of Fiber (EUR\USD)...



M15 Chart of Cable (GBP\USD)...

[PIPhanger]

The official BEAR HUNT begins starting tomorrow May 1st 2012!!

GLGT

[PIPhanger]

May 1st 2012 - Short Setup on EUR/USD (BreakEven)

Entry: 1.32537

Exit: 1.32521

Pips: 1.6

Update: This trade isn't setting up like I thought it would, the cable is scaring me because it looks like a perfect buy setup. I might have to cut bait on this trade...

Update: I just let this trade run to see if R1 would hold as resistance, when price came down the first time to my entry point I exited the trade with a 1 pip profit...

EUR/USD

- Kill Zone: London Open
- Hourly was Overbought
- Judas Swing Up into Key Resistance 1.3250 / 60
- Daily Pivot Sell Zone
- Upper Trinity Sell Zone
- OTE Sell Pattern within HTF OTE

click image to enlarge


Entry, Stop, and TP1 ScreenShot

click image to enlarge


GLGT!

[kubio]

Hey, PIPhanger!

hope you managed to pull few pips out before stopped on today's trade?...
...was wondering if you accept ''intruders'' in your thread or it is more like online trading diary? I would love to post comments, questions, observation if you let me to. thanks

however, I'll be lurking with interest

cheers, Nick

[PipJoker]

Looking forward to your success piphanger! Hope you reach it!



if you even get hurt and you feel you're going down...

[SanJ]

Hey PIPhanger..

Just thought I'd intrude and post some thoughts as i took the same trade on the fiber today..

I saw the exact same entry you did too, and i initially had a limit sell at 1.3260.. However, i cancelled it and ended up getting in short at 1.3271 - reason, i zoomed out and looked to the left.. Go back over your chart and you'll see 3 significant swings which i figured stops will be laying out, for any significant move i figured the big boys will aim for those - liquidity purposes and then run it down.. So even though it was psychology draining not entering when i initially thought - as i thought i'd missed the entry, it soon came back up, ran all those areas including last weeks weekly high, and i got in short..

I ended up taking profit at 25 pips, but getting stopped at BE before the big move - which sucked of course but happy to be 0.37% up instead of down..

Anyway, think today was a classic, 'look to the left day' as ICT teaches... Hope this doesnt sound patronizing, just sharing thoughts from one student to another

Good Hunting

[PIPhanger]

Hey, PIPhanger!

hope you managed to pull few pips out before stopped on today's trade?...
...was wondering if you accept ''intruders'' in your thread or it is more like online trading diary? I would love to post comments, questions, observation if you let me to. thanks

however, I'll be lurking with interest

cheers, Nick

Yes by all means, post comments, questions, observe, and lurk all you want...

I am hoping more and more people stop by to hopefully help me figure out my flaws...

And yes I got 1 pip I think. I set my TP close to my entry because if price came back to my entry I wanted out of the trade since I didn't execute it correctly. I've very happy that I didn't get a loss on this trade, but bummed I didn't enter in the correct spot. Thinks to work on yet.

See you around...

[PIPhanger]

Looking forward to your success piphanger! Hope you reach it!

if you even get hurt and you feel you're going down...

Thanks, I'm sure I will have to watch that a couple times each week...

See you around...