dude, may i share with u my 2 cents?
If itās relevant to this journal, why not?
to the way ur trading, sorry for the hole mess from before, didn t meant to ruin ur journal, i just got carried away
OK. I am listening.
i was just looking on the charts u were posting. u didn t took profit or atleast moved stop at BE on AU for example even though price moved ur way about 1.5R already. so first thing would be to atleast move stoploss at BE when u reach 1r. second, sometimes u close the trades 2 early, like on EC, saw entered of a bullish engulf, what price ussually does is retrace about 50% of that hole move(in ur case the 4hr bull engulfin) and then continue ur way. sometimes might retrace all the way back to tap that support 1 more time before moving. point is, let it breath, u took the trade, set the stop, or goes 1r and u set BE or hits stoploss. 3rd thing would be, and always from the charts u posted, try to go with the underlieng trend if there is 1, so in ur case daily, since ur traing 4hr charts. look fro clear break and retests of some levels in the direction of the daily trend, and use pins and engulfings as a trigger. again, these are just my thoughts from looking at the charts u posted and reasons u wrote. atleast maybe it will give u some idea on how to improve on ur bottom line, hope this helps.
cheers
OK. Thanks. Will go through the charts again with your suggestions in mind. I could discover something new.
Also, I donāt move stops based on RR. I move my stops based on logical areas like price getting to a new swing high or swing low.
Thanks though.
that imho it s a stupid thing to do, i understand ur trying to ride the trend, swing for the fences, but if ur aiming for homeruns it s gonna be tough for u. i also do swing trading sometimes if the time is scarse, but what i do is set multiple targets. tp1, tp2, and last lot without a tp to trail the swings like u say. but out of 100 trades maybe 10 end up movin hundreds of pips. i also move my stop at BE after tp1 and tp2 are hit. u could leave the stop where it is but at 1r u could bank half profit. that way if it does come back to hit ur SL, u don take full hit. i dunno, just my rant, u do whatever u think best.
cheers
I realize that price moves in irregular fashion. So, I think it wiser to place stops at logical areas. I donāt think it is a stupid thing to do. I donāt think I have had trades that moved to 1R and I lost that trade.
As for TPs, I donāt set hard TPs. I only use them to calculate RR and see if the trade is a good trade to take. I intend riding my trends or closing the position on a reversal pattern.
Well, appreciate your input. But I think if you are trading with price patterns as I am doing, you have to realize that they are based on swing points and not on RR.
this is kinda what i meant, i doubt that u would have managed that trade in that way.
remember that markets range 80% of the time, if r only trying to trend trade u gonna have a hard time or look for swing low and high. i bet ud be doing great if u d look to set BE at 1R and trail the rest or take pratial profits at abvious support and resistance.often times u might get a reversal signal and move will just continue. i m telling u this cos i used to think like u few years back, i knew how to trade and still came out losing at he end of the month cos i was chasing moves, going for homeruns etc.
Well, I donāt think you understand what I am doing. I know markets range 80% of the time but price patterns also work in ranges. I am not depending on markets to trend. I just take trades when they are confluent with support and resistance, whether markets are trending or ranging. You really donāt know what I am doing.
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ah ok, so then u trade ranges also, double tops, bottoms. i saw something about 123 pattern, that works great with a fib pullback as well. then ur golden, stick to that and u should do great. cheers
Thanks. I appreciate your kind remarks. I would really think about what you said about doing BE at 1R. I will give it a try.
Well, wish you happy weekend.
1last question, ust curiousā¦ how many moths in a row u came out on top? the way ur trading, is it consistent? or ur just trying to replicate some style of trading that u learned here on babypips?
That question will be answered in the future. Maybe three months from today. Just started these set of strategies April 6.
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Well, if you are wondering why I know much after just a short time, it is because I used to be a teacher and know how to model the learning process. What I need now is screentime in order to experience the different takes of the market. That is why that question will be answered in three months time after I have had enough trades, like 50 and enough screen time for practical experience.
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When professional bodybuilders are lifting weights, they stretch the limits of their endurance. They push themselves to the limit and when it seems as if they will break, they hold and allow the body to adapt to the new situation.
As traders, it is not just enough to be focused and disciplined. You can develop your capacity to operate in the zone by testing the limits of your mental stamina. That is best done when demo trading and trading small sizes. Donāt just follow your trading ideas. Test them till they break. That way your learn and understand your weakness.
Be ready to venture beyond your comfort zone. You cannot know your limits unless you are ready to go the extra mile. By so doing you can grow and adapt as a trader.
Hi 
If you have time,watch this video,very interesting 
When he says āāsuplay and demandāā or āāinteresting price levelsāā he means majority
P.S=Give me a kiss
Anxiety and stress is a problem faced by traders at all levels. Some call it performance anxiety, or the act of worrying or focusing on the outcome of a performance while trying to stay immersed in the performance. This can cause all types of problems for traders like missing out on opportunities because they think they should have a high level of risk reward ratio in a trade and feeling anxious when the trade looks like it will not hit the profit target. Sometimes we also experience the anxiety when we feel the world is against us in the market and we have to fight to win them. I could go on and on about scenarios that make performance anxiety to occur.
If a trader discovers he has performance anxiety, what can he do to reduce the stress? Some suggestions are:
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Stop focusing on the profits or losses you want to make or are making, rather engage yourself in the process of making those profits or preventing the loss. When the process is right, the profits and losses will take care of themselves.
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It has been observed that risk increases anxiety, and increased risk even more so. So take on incremental risks rather than exponential risks. Donāt just increase your risk steeply just because you suddenly discover you have an edge. Take on increased risk gradually.
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When you feel fear building up in front of the charts, then itās time to step away from the screen to do something else. That will relax your mind rather than your trading in a fear-filled state which will further increase your anxiety.
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Do mental rehearsals of how you would respond to threatening situations. That will not only make the threatening situation familiar, but you are better prepared to act calmly when they occur.
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Create reasonable and achievable goals. Creating perfectionist goals only make you anxious and stressed. Donāt expect to make $100 weekly on a $200 account as so many self styled gurus and mentors will promise you.
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Have a life outside trading. You are less anxious if trading is not your only source of income. Have other things you do outside trading. Be part of a volunteer program. Do not put all your eggs in one basket.
If you apply these suggestions, you will go a long way in reducing performance anxiety while trading.
Success. NZDUSD. Short. H12
Reason for trade entry: Price is in a range and a bearish engulfing pattern has appeared on the H12 chart at the resistance level. The engulfing bar satisfies the criteria for bearish engulfing bars and it fully shows it can reverse the bullish rally that preceded it. The daily is also in a range, showing alignment with a higher time frame. There is no significant bullish pressure that would counteract prices for some time, so this trade seems hopeful. Price movement might not be much because an ascending triangle is forming at that range and it is countertrend. Pending order placed.
Trade management: Order triggered. A pin bar has appeared showing price is about to reverse. Had to close for little pips profit.
Trade Result Remarks: Made only 4 pips from this trade. I knew this would be so because trade was counter trend. I should have TP and taken better profits when price went down. Resolved now to be taking TP at counter trend moves.
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u have a daily range with a bearish engulfing, i would ve held that position if i were u. after engulfments, price usually retraces 50% of that move and then continues, specially if it s with the trend or range bound enviroment. fear of losing will keep u out of good positions cutting ur winners short. it s good that ur actively managing ur trades based on what the price does, it s what i also do, but that right there it s more a doji then a pinbar. anyways, ur on the right track, time and screen time will teach u as it has done with me and pretty much every1 else that stuck with trading and didn t gave up.
cheers
EDIT: try and add volume on ur chart, if nothing else just for the pins and engulfments.
an engulfment also suggests an imbalance , a shift between weak and string hands, buyers and sellers. so let s say the pin bar u just saw had the highest vol of that day at that time. considering that used to be a big red bar at 1 moment, and closed bullish or in the upper half and the high vol suggests buyin coming in(as people with big pockets buy the dumps and sell the rallies, therefore strenght will appear on red candles and weakness on green candles). same scenario for red pins. as for engulfments, when u have an up candle with low vol and the next candleis an engulfment, that s a good signal to short, orā¦ when u have an up candle with high vol and the next candle is an engulfment also a good short cos that means they sold into he upmove, just try and see if u manage to improve on ur bottom line, shouldn t be that hard to wrap ur head around these simple concepts. it s just an adition to ur trading system.
cheers
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