Okay thanks for your comment on this. I am following the 3 duck method. At least I am trying. It is not possible for me to close the trade on a M5 reversal. I am asleep all of Europe session and at work for most of the US session. It is just not possible for me to do that so I need to turn it into a longer term sort of strategy. I know you’re going to say “that’s not the 3 duck method” but you were the one who told me that it is more of a frame work than a trading system. I still think I am attempting to accomplish what the 3 ducks method teaches, that is identifying strong trends and buying/selling breakouts in continuation of the trend. It is not going to be possible for me to follow it 100% due to where I live (west coast of Canada). It’s something I just have to deal with.
I know you mentioned the longer version of the3 ducks strategy which is basically what I am trying to do due to my location in the world. I did some research online and people say that it isn’t much different than the “free” one on babypips. I saw some trade pictures from it and it is basically what I am doing. The SL will be above swing resistance on the H1 for example. The idea is you do not close the trade when price crossed back from M5, it stays open. So yes I am using the 3 ducks method. I am just using a longer version of it. I don’t have a choice due to my location in the world. I have to adapt it to be able to work for me.
As for your comments.
Always, write down the exact date and time of when orders are placed, triggered and closed (stops hit).
I already do write down the session set, triggered and closed. It was just not in my original journal. The later trades incorporate it and it will be incorporated going forward also. I do this for the date also. I do not do the exact time though… Perhaps I can add that. I also sort of do the time triggered with the little check mark on the pictures. I do this for when it closes also.
Always write down the exact price for the Open, S/L, T/P, etc. Don’t just say write “x pips”.
Okay, I have added these fields to my journal.
When mentioning, swing points, write down the exact time and price of the swing point so that you can look it up on the chart later.
What is the purpose of this? I already have before and after pictures. If I want to see the trade again I can just look at the pictures.
When referencing support or resistance, write down the price levels so that you can check on it later
I sort of do this already on the chart. I use white horizontal lines for support/resistance and I use white trendlines also.
When referencing trend-lines, write down its endpoints (date/time and price, for both the start and end of the line), so that you can reconstruct it later.
Why? I already have before and after pictures. As with the above, if I want to see the trade again I can just look at the pictures.
If using the 3 Ducks, write down the price of the MA (prior bar) on each of the 3 Time-frames at the Open and the Close of the trade, so that you can check if you carried out the steps correctly.
Okay, I will start to do this. But this sort of already exists with the before and after pictures on all 3 time frames. Each trade has a total of 6 pictures, H4 before and after, H1 before and after, M5 before and after.
Thank you for your attention on this.