And a third setup for the day (Fiber again), I thought that wouldn’t happen. Took it in the NYO still, about 40 mins after that last one. Reasoning:
- SMT divergence - Cable formed a higher high, Fiber and USDX failed to do so
- Cable entered OTE zone to go low, so we could expect a bounce down, USDX was playing with an important support level (81.20)
- OTE on Fiber (week high to low) to go down
- big figure - 1.26
- fractal swing high on daily Fiber
- stoch divergence on H1 (same case for USDX)
- daily R1, weekly MR1, weekly trinity sell zone (R1)
Didn’t take screenshots, maybe will add them here tommorow. Went short @ 1.2605, closed most of the position around 18:00 London time for a tiny profit, left ~25% and tightened my stop.
Tommorow I have to review my trading activity for the day, as I’m not sure if I shoud’ve taken as many as 3 trades in one day 
Some time passed again with no post here. But I wasn’t lazy, I actually learned a lot in the meanwhile and am going to continue to do so! PTC videos provided me a lot of new knowledge and Trading Plan Development series already looks awesome after just one episode 
I am totally in love with learning FX so far. Actually, I reminded myself why I am always absolutely thrilled when I start doing something new. Let me explain by using a graph:
It’s just great to be a newbie and learn so many new things so quickly! Of course nothing could ever replace the experience and I know that some time will pass for sure before I am able to use all the things I became familiar with in a perfect (well, let’s say close to perfect ;)) way.
Recently I learned one very important thing actually and I will say that here as it may help some other newb in the future - don’t try to predict tops/bottoms! My expectations are for a longer-term reversal in Cable and Fiber so I tried to nail the reversal a couple of times. Obviously it didn’t happen. As we’re still in a buy program, I am focusing on longs only and the levels I have drawn that could provide a reversal will be used as target TP areas and not opportunities to go short. I also reduced my risk for now. 0.5-1% risk for me is all I use until I see a clearer picture of a longer term trend, be it bullish or bearish.
Here is once again a link to my progress if anyone wants to track it. Not much happening but at least I am in the green (for now ;))
MySys System | Myfxbook
Till next post!
Time to clean some dust here
So the first month a bit more of my journaled trading past. I made some pips and there was a moment when I thought I am the master of the market. Well, not anymore! Two trades taken yesterday, two losses and after watching the last PTC i realised what was wrong with my analysis: I simply haven’t done my top-down analysis properly. I just looked at the higher TF charts, basically just taking a glimpse, and spending most of my time staring at 1H and 15min. Thus I failed to see the important levels and a probable change of direction price went. Actually no, this was wron what I just wrote. I did take notice of that important .6080 level on Cable for example. But since it took place out of my preferred killzone, I simply didn’t give two ****s about it. I woke up Thursday morning, saw the bounce and was like “damn, why couldn’t that happen on some LO?”. There was also one more thing: I looked at my trades for some time (week-two weeks maybe) as scalps only but I wasn’t setting my TPs properly for that idea. I have to start distinguishing type of trades I take (scalps, swing, LT position). I focused on scalps which was okay by itself as I’m sure it’s possible to make money off them with ICTs tools but I then need to have a plan exactly for these type of trades. I need to put my thoughts on paper because I feel like there’s a huge mess in my head that stops me from trading 100% sanely.
It was not all bad though. I liked some thinks I’ve been doing, for example differing the sizes of my position based on how confident I feel on the trade - I’m going to continue with that approach (also have to put that down on paper so that I don’ do stupid things in that regard).
Sh*t, my puppy dog just started to bite off a chunk of the wall in my room so have to stop here… To be continued!
