The flow chart looks very professional, but maybe a little complicated. Some of those news channels will have your head spinning.
Don’t forget the levels, see how some guys exited at the 110.50, others hung in - thus price bobbled about that level for a while. See also the level they took it to.
Learning the levels can be an immense help, imagine that trade that I spoke of at UK open this morning using those levels for TP and SL.
I have not created a sequence or a systematic approach to my three trading styles but will work on it this week. Also, I am revisiting my approach to trading which has helped me clear a lot of things.
Much better mate
GOOD WORK
now, i’m not going to continue nit picking at this, i’ll leave that to you
but I WILL SAY THIS… it all looks good but this box I CAN SEE FAILING
LET ME EXPLAIN
once i have a clear picture ON THE AMOUNT OF RISK i am exposed to
PROBLEM : Your’e too vague… DEFINE THE AMOUNT OF RISK
i can work on my S/L and T/P
PROBLEM - You don’t need to say it, Just make a box dedicated to DEFINING S/L and T/P
and develop GOOD TRADE SIGNAL
PROBLEM - What is a GOOD trade signal
DEFINE “GOOD”
DEFINE THE PARAMATERS
you really need to make this a flow chart that is like TRADING FOR DUMMIES
now this box , IF NOT RECTIFIED can stuff up your entire risk management hehe
SO… POINT IS…
you see what i’m getting at … right
AVOID BEING VAGUE
BE AS SPECIFIC AS YOU CAN AND DEFINE IT AS SIMPLY AS IF YOU WERE TALKING TO A 5 YEAR OLD.
be cool dude
Is that the only box that concerns you ?
If so, my next step was to make a detailed approach for my trading styles tonight.
@Ben1987
mate, my first concern is… i shouldn’t be intervening too much because IT’S YOUR SYSTEM
and i don’t want you to cater it to me.
but all i’m saying is… I did this VAGUE THING as well
and i found that Until i got specific and defined things i wasn’t profitable
example
Step 1. based on research define an entry point
Step 2. Have i defined an entry point
Step 3. Am i certain about the entry point
Step 4. Define WHY this is a good entry point (this will later serve to show you where you stuff up)
Step 5. have i defined a Take profit
Step 6. do i know why i have placed the Take profit at this specific point
Step 7. Have i defined a Stop Loss
Step 8. Do i know why i have put it here specifically
Step 9. Does the stop loss give me an ACCEPTABLE LEVEL OF RISK
Step 10. if the trade gets stopped out, do i have a fall back plan
and then everything like
Step 5. have i defined a Take profit
Step 6. do i know why i have placed the Take profit at this specific point
should sort of be like this
Step 5. have i defined a Take profit
if YES Move to Step 6
if NO - Define a Take profit
Step 6. do i know why i have placed the Take profit at this specific point
if YES - Move to Step 7
if NO - Determine the specific reason
THINGS LIKE THAT is what i’m talking about
this should be YOUR TRADE PLAN
i just want to be point out really obviously that you need to really really get specific, but IN YOUR OWN WORDS, not mine
at the end of the day, if your flow chart looks like garbage to me, BUT YOU UNDERSTAND IT specifically… that’s fine
so that’s my point
but you are doing good mate, don’t worry
this takes a few months to perfect, so just let it happen
be cool
oh. one last note
a guy gave a very good piece of to me at one point.
he called it
BUILD A CASE
and
PROVE YOUR CASE
it means this…
Imagine you are in court and i accuse you of stealing something in a shop
now, i can accuse
or
i can do something more concrete
I CAN BUILD A CASE AGAINST YOU
example
the CCTV camera on the streets shows you walking into the shop
the CCTV camera in the store shows you waling into the isle
and the item can be seen on the shelf
you are then see picking up the item (Which is obviously a porno mag hehe) and stuffing it down your pants 
Point is
THE ACT OF BUILDING A CASE WHEN TRADING, Psychologically, gets you to
Cover all bases
before make a decision you make CONCRETE REASONS as to WHY you are doing it
now. this is not flawless, but… when you trade incorrectly… YOU NOW HAVE A ROCK SOLID REASON WHY YOU FAILED
as opposed to … I’m not really sure
so consider PROVING THE CASE to yourself before placing the trade
me personally
i don’t just write it down
i video myself
i use 2 video capture softwares
i use Debut Video capture to record my desktop (you can also use Camtasia if you like, but Rendering time is a pain)
i also use another one (forgot the name) not to record, but to just access my webcam so i have a box
on the desktop that i can see myself in
that way when debit video records the desktop
it records me and the charts and i basically just speak to myself on the camera and tell myself why i believe that this trade will be successful
now if i stuff up later
i go back and revisit the recording
this helps immensely in my opinion
be cool
I think @anon81929759 was just holding that up as an example, and I wholeheartedly agree with the points that he has been making. We are both walking the fine line of trying to help you with your trading plan, without just driving you to make our trading plans, which wouldn’t do you any good.
Ideally, you should be able to give you trading plan to somebody else and have them execute the exact same trades that you would execute if you were at the keyboard. This means that your full decision tree needs to be spelled out, which is difficult for most people (at first), because we are not used to interrogating how we actually make decisions.
This, to a large extent, is why most traders become ‘niche predators’, who dominate their tiny part of the market. You talk about ‘fundamental analysis’ like it is a single thing, but having to write out a flow chart that covers every possible aspect of fundamental analysis could be a life’s work. But dealing with only a small part of that (trading central bank interest rate decisions, for example, or correlations between the price of oil and the CAD) is far, far more manageable.
Equally, you want to have plans to deal with trending markets, ranging markets, and news markets, but each plan will be a massive amount of work that, even if successful, does not always translate into significantly greater profits. Some of the great stock traders simply had one or two patterns that they traded, and simply went looking for stocks that fit their patterns rather than worrying about how to trade the stocks that were doing something different.
yes that’s correct
it was meant as an example
now perhaps for me being in I.T. and i’m used to dealing with schematics when doing circuit board repairs, logical flow maybe comes to me easier… Perhaps.
but again, this hits on my point from before
i do a flow chart MY WAY and it flows and (as far as i’m concern) it literally goes step by step, i can’t fault it
i literally (when trading) move from box to box and answer each question like a multiple choice form (in a sense)
another part of it, when i gets boring is… REMEMBERING TO RESPECT THE FLOW CHART and it’s importance and not just skip through it because youv’e remembered the steps
but that’s me
now… YOU have to work it out FOR YOU
so what i was saying was…
WORK IT OUT FOR YOU
But Make it specific and detailed
so @Drekieyja was correct, i was showing you a CONCEPT of what to do
I DIDN’T SAY… DO THIS EXACTLY THE WAY I DO IT.
you gotta understand that to
be cool mate
Just want to follow up on this as well bro. Love what your doing. It’s very rare to find someone willing to expose themselves as you have here. Very impressive.
But on the fundamental analysis thing. You look like you desperately want to trade inter-day. Fundamental analysis plays no role and has no business in an inter-day trading plan. All we’re concerned about is when news is going to be released and what impact it could have.
The role fundamental analysis can play is to help with your bias for a pair. On longer time-frames they talk of up-trends, down-trends, ranging markets. To us, we’re only concerned in the here and now. Meaning the price is going up or the price is going down. It can’t do nothing else, these are it’s only two options Having developed a bias on a pair one only has to wait until the price is moving with our bias and well, then we do our thing. Thats how we extract pips thus creating opportunity for profit.
But whatever your thing is, then that’s what you have to do. Keep doing it, never stop. Hopefully, you’ll be showing us all a thing or two in a few months time.
CI really did want to hold back, but a high probability trade on the USDJPY presented itself to me 
.
Firstly, I knew the fundamentals on JPY were good against the USD and the next big news for USD will be in a few days with smaller economic events for JPY that should not disturb the overall downtrend ATM.
I checked the overall market and it was trending downwards significantly. I used past and future economic events to determine whether a trend disturbing event will occur, which I have concluded as unlikely until the end of the week.
I did a multiple time-frame analysis based on swing trading where I looked at H1, H4, D1, W1 charting.
I based my trade solely on previous candlestick patterns and support level on the charts D1 & W1. Want to hold this trade until the end of the week with further considerations, on hold.
I also know that support and resistances on higher timeframe tend to be more accurate compare to lower timeframes. This trade had 10% TA, 60% FA, 20 SA.
Starting capital before trade
USDJPY (D1)
USDJPY (W1)
My risk exposure against my total current capital is 4%.
I lowered my position sizing to match my risk management goals.
This type of trend should definitely be a swing trade to maximise profits.
Another note, when two major currencies such as EUR & JPY with good fundamental news are attacking one currency, the USD, the probability of it reaching new highs or lows is very foreseeable, making it a high probability trade.
Reviewing my trade, I should of taken into consideration the psychological point of 110.9 when trading and could of taken short burst trades during that time. Then returning to my overview of the market on USDJPY, a downtrend.
Sometimes after a good push two days in a row there can be a little pull back - good luck with the trade.
I agree, I’d think it’ll reach 106 in 3 weeks actually lol JPY went down 2 cents already this week.
Also, there is too much interchangeable economies in play.
Positive outlook on the ECB, I took a trade believing that the EURO with two positive outlooks in both meetings, will reach close to 1.26 in another few hours.
EURUSD
I closed my USDJPY & EURUSD trade.
USDJPY: $1.4
EUR/USD: -$2.26
= -$0.86
I quickly exited the trade because of the comment Draghi said “There are a few chances increase rate will be raised all year.” This usually means that inflation might not be an issue.
Trading the news conference was a disaster 
,
So now I know to avoid meetings, interest rates and US NFP.
every mistake I learn now will be beneficial later in the future.
+
I lost -$3.19 in my previous trade, and then I tried to do a day trade and lost $1.04
What I learnt during my trade period is that if I decide to swing trade, it’ll be for three days maximum, this is because of unexpected news events that can change the course of the trend. The more practical experience I gain from trading the market, the better I get, don’t hesitate to make mistakes and keep growing and learning with the market.
When you really think about Donald Trump’s comments, it was an attack on the chance to increase the value the US currency, but it does not change the fundamentals of EU or JPY regardless. Therefore, after the comment attack, I believe there will be a recovery of the EUR but JPY for the overall trend later.
Today, the US will have a more optimistic view but does not change the overall fundamentals of EUR JPY, just a perfect retracement chance for me.
Sorry guys, I love the markets too much and I really enjoy it, so I’ll be trading
Trump should want the USD lower for a number of reasons, so I’d be expecting more of the same throughout 2018-19. USDJPY is a great indicator of progress so far…
My risk should be 1.5% * $226.5 = $3.4
EUR/USD = -$2.32
USDJPY = $1.71
= $4.03
I purchased 500 units, I might need to lower my units after today.
These trades will be held 8:30PM AUS time (UTC+ 10:00) before GBP prelim GBP
EURUSD
USDJPY
I guess it was a move for the bigger guys to profit then, nothing else.
Only if I held the trade for 30 mins longer , i ended up exiting the trade while at work, since I was concerned something will happen. Also, I exited the trade because the next economic event was the EURO.
Anyways, my results were:
USDCAD: $0.04
USD/JPY: $1.56
EUR/USD: $0.93
I closed before the EURO trade while at work and took a scalper approach where I was only willing to hold the trade for 20mins since GBP news was 30 mins later.
I accidentally went long on the EURO trade when bad news came out which was unfortunate and lost -$0.15 then went quickly went short gaining $0.09 .
After I took a GBP/USD trade and went long but entered too late, resulting in a loss of -$1.26. Than I was thinking that the trend must hit the top end and bulls were getting exhausted, this made me decide to short the AUD/USD but ended up losing -$0.59.
Anyways, that was my plan, if I was sitting on my computer desk may be the trades could be more profitable. Also, I should consider trading “take profit” news events if it is against the trend or was too quick for me jump in.
MY capital
Today, I’ll be reading the book “day trading and swing trading the currency market by Kathy Lien.” Hopefully, I can learn how to broaden my trade strategies by next week.
I have lost -$9.39 this week, hmmm that’s not good.
