haha nice input. Nice to see others trading styles.
I see the 1,2,3 pattern (3rd part meaning of the current run down in the market). I will possible look for a long if it goes down to the next support with other confluences factors also coming into place but will see what happens.
Did you get in the trade yourself?
No watch list today, waiting for few trades to patterns and candles to setup. But overall done trading for the week.
Will be posting this posting a weekly review this weekend.
EUR/CAD - 12/13/17 (OPENED) - 12/14/17 (CLOSED)
Result: [2.5%]
Trades Taken:
You can see the entries for trades above on the post. With both first entry take and closed.
Trades Missed:
This pair I was watching and saw pattern form then breaking. I did see the trade but didn’t feel good enough based on the retrace wasn’t good enough. To be honest, writing this out if you see the trades I have taken are Breakout Criteria for the RUNS ON THE DAILY then a pattern forming on 4H but NZD/CAD pattern was formed in the daily and Breakout.
What to do? Practice Back Testing Breakouts on Daily patterns so next time I would be more comfortable taking the trade.
Overall: Great Week with 2 trades with [6.5%] Gain. Even with a small account, to me it’s important about being consistent with the plan then adding more capital over time.
What else I want to do?
I want to make my explanation more simpler for when posting online and my review on ever note. If you have any suggestions, I am open to them.
Will be posting Weekly Watch list tomorrow.
AUD/JPY (SHORT)
AUD/NZD (Short)
EUR/AUD (Long)
EUR/GBP (LONG)
Looks like somepossible swing trade opportunity this week but will see. Waiting for some day-trade patterns to form. Happy Trading
EUR/GBP 12/17/17 (opened)
Trader Order and Just got in because of breakout if head and shoulder + retrace
Stop loss: fib .618 plus its behind the 1 + 4H EMA
Risk:Reward: 1:6
The trade can go either way. Let’s see what happens
No watchlist Today.
Just wanted to Update on the EUR/GBP 12/17/17 - It hit my stop loss. It happens .
Result: [-1%]
As my point of view, strategy is an action plan to achieve some desired objectives by adopting proper actions. So in the forex market if your objective is to trade as per your strategy I will definitely want to add something in this conversion. Though I am a new baby and not that much experienced but the little time i have spent here I can say that no strategy is perfect and can hold for long period. Every time a strategy need to be modified and evaluated.
Hey,
I agree with you on this. The strategy isn’t mine it’s a course I got back in August 2013 which the is strategy is profitable in the long run. I myself have back tested the strategy. The byproduct of the plan that it is profitable in the long run I just never been consistent and just going with the flow. This is a business and not a hobby.
The swing and day trades strategy are separate courses which the day trade compliments my swing trades . Over the years, I went through the emotions of wanting to get into trades every trade, fear of loss, greed, no plan, not taking weekly review seriously, missing trades, and treating as a hobby. And it has been a journey that I appreciate.
From 2014 and last time i Traded Mid 2016 I stopped until August of 2017. I treated it half like a business and half like hobby. I never full committed. So Far, I started to Swing trade back in August 2017 & Daytrade End of November 2017 which at the moment both are in profit for the year.
I looked within the last few months on my mindset that I missed so many key things about trading. I decided to make the Plan SIMPLE. I made it a MUST do a review weekly, trade management, and easy plan, get into higher probability trades. accepting draw-down. I was already doing evernote so I decided to make this online Journal.
Price action is much different. Plus the teachers teaching and using the strategy have been doing it for years and year with great results from students. The course make sure psychology is important.
Good Luck on your journey
EUR/GBP - I got stopped yesterday. Tt the price ended up go retracing to .8800 right then making new highs. Price is now retracing giving me another opportunity to reenter the trade.
EUR/GBP -Was waiting for entry when the phase line broke but took it on touch of pivot.
Risk:Reward: 1:4.5
Stop Loss: S1 + behind 1H EMA + behind .618 fib on previous high
Psychology:
I didn’t mention this before but it’s very important what you say about the market especially internally. (this happened around 12/12) I used the word “hurt” when describing the market. This is not good because when a trade becomes a loss because (After this part is tough to write and put words) the loss could weigh on you internally without you even knowing. Resulting in not seeing the market as neutral but out to get you. Next a trade comes up which is part of your plan then you don’t take it and comes out to be a winner. I am not trying to beat myself up but acknowledge it but change this old belief. Today, I understand it’s all probability and must take every opportunity the market gives based on my trading plan. I setup of a plan for it and changed the old belief hurt to opportunity. The market is only giving opportunities to enter based on my trading plan. In the end, it’s all probability.
Trades Taken:
Trades Missed:
I found out I am not very strong at taking range trades + counter trend but trending trades come easier to me but for my swing trading plan. Yes, always go with the Trend. For the last week, I went over 20 pair and back-tested.
I enjoy this as I am committed about learning about myself and improving daily.
AUD/NZD - ON 12/17/17 - Bias changed to Short (put entry for short)
EUR/AUD
GBP/CAD
Last week before 2018.
Happy Holidays and Next Year will be Fun of learning new things.
I will be posting December Review when the last two trades closes out.
Psychology:
For some reason I look at the chart randomly (this one is new because I just started to Day trade end of November) Could I be afraid of a loss?Hmm. It’s just when I am not working on something I just go look at it. Does it help me? No, not really I have my stop loss their to protect my capital. Just trust the plan and go have fun with the next project. I just want to Master my Mind and Trust the plan.
Trades Taken:
Still Running:
Trades Missed:
None
AUD/JPY - 1/1/18 Short
GBP/CHF- 1/1/18 - Long
Just wanted to do this before the Year Ends. Enjoying the process of learning, excuting, reviewing and repeating…
Hope everyone got plans for 2018. Let’s get it STARTED!!!
Hello. I am still alive just has been a slow week. Not much going on at the moment. Waiting for some patterns to form and price to hit certain levels.
Trade Taken:
Trades Missed:
Previous Trades:
Something to Consider:
Looking at the 1H chart could this just been a paused at the price? Maybe, it is something to look at in the future for a better look at multi-time frame analysis.
Will be posting Weekly Watch list Tomorrow
Let’s get this week started. I am working on improving the list. My approach just just simple and easy to follow.
GBP/CHF - 1/1/18 - Long (Swing)
Something to Consider:
On the Daily Rising Wedge & Price has been holding in the 4H making a Head & possible. My Bias could change to short depending on what happens
EUR/AUD 1/8/18 (Long)
GBP/NZD - Swing Trade
EUR/GBP just closed out. Will be posting the Decemeber Montlhy Review.
Swing Past: Missed over 30% in those months.
August: [-1%] | September: [-2%] | October [-1%] | November :[5.5%] / December: [-1%] | Overall: [0.5%]
I missed a good amount of trades over these months because I still was treating it as a hobbie until begining of Novmeber I got serious about trading and psychology. I had to change my old beliefs and anything that is not benefiting me to move forward.
DayTrade: Started end of November - still good amount to learn.
November [3.5%] / December [5.5%] | Overall : [8.5%]
It has been such an improvement in my day trading. Still a good amount to learn about myself and psychology. I am ready for this JOURNEY because it is fun learning about myself and getting better. No matter how good the strategy is It’s all PSYCHOLOGY. This year will be more focused on psychology and improving. Taking every opportunity the market gives and patience.
Looking forward!!
GBP/NZD: took on 1/8/19 ended up beign [1%]
Market shows another opportunity with the same pair.
GBP/NZD :
