Running Naked with Scissors. My Price Action based Trading Log

Trading Discussion Trade Journals
129

Here is the image for USD/CHF above.

This is the 4h level inside the daily level.

EUR/GBP 1 short
Price:.87841 TP:.87340 SL:88040 Closed at Trailing Stop .87575

This could be a case of not letting my winners run.

EUR/GBP 2
Price:.87408 TP:.87108 SL:.87702 CLosed trailing @ .87494

tried to scale in for what looked like a clear 15 pip chip shot. turns out it bit me in the ARSE.

I had a few scalps that were bad trades all around. Then a daily level on EUR/AUD that i closed 8 pips away from the SL cause i really didnt want anything to trigger today anyway. Since I gave up on the markets and wanted to take off. But as i check my chart it has started to turn around so ofcourse i made the wrong choice. I am not keen on putting up the rest of those charts since they are just more space. But overall I am going back down to risk management and reducing all trades to .25% again since this was horrid

Net capital lost today: -2.75% most i have ever lost in a day mostly thats a weeks worth of loses.

TILL NEXT TIME!

132

Alright finally my week of utter destruction of my account has come to an end. I even felt compelled not to post these trades because of how poorly I did. Not only for taking trades that I probably shouldn’t have but also the complete failure I had. I definitely think they are linked. But I am going to study up this weekend and come out firing like I always do. I don’t take losers lightly, considering how much i have learned with such a small amount of money I should be thankful. But its the personal hit that my progress has not proven fruitful even though I study hard everyday that hurts the most. I have reached my first plateau, the ground floor. Lets see if i can even make it one step up the hill next week. We actually started off Friday with some winners which was hopeful, but then I started to take trades there were lacking.

EUR/GBP
Price:.87841 SL:.8804 TP:.8734 Closed at trailing stop @.87575

This trade actually was a great one. I should have just let the trade run instead of trying to lock in profits. Probably due to fear from previous losses. We hit a daily supply zone where we were before. But since we didn’t penetrate it that deeply and another hourly level was created under it I thought I should take it. This is what one of my trades SHOULD look like. It was during the large upswing i got nervous, I should have just let it run and made my entire TP.

Net: 26.6 pips

USD/CAD
Price:1.0270 SL:1.02874 TP:1.0240 Closed at 1.02516

Here was a 15 minute level. Actually according to my MT4 we gapped down which was amazing for me. We are ranging inside what i would consider long term supply giving me a sell bias. Which worked out amazingly. Again I closed very close to my TP. I was trailing my stop right above the 5 minute candles. During these really whipsaw areas I was playing straight up defense. If there is any slow down in the momentum of these short term trades I am looking for an exit immediately.

Net:18.4

EUR/USD
Price:1.35471 SL:1.35632 TP:1.35168 Closed @ 1.35467

Perfect example of shooting myself in the foot by moving my SL to BE immediately. Would have made quite a lot of pips on this one if i had stayed in and not been so hurried to get out. 15 min level again.

Net: 0

GBP/USD
Price:1.54301 SL:1.54119 TP:1.54601 Closed at 1.54242

SO this time closing early saved my butt. Ah the conundrum of trading somethings help you sometimes some things hurt you sometimes. Its so hard to find which one has the highest chance of helping you MOST of the time. I took the Rally base Rally level here, should have waited for the rally base drop. This is where i start to fall apart.

Net: -5.9 pips

Same level again I take it, on the candle after the pinbar looking for it to go up, using the pinbar as price confirmation.

Price:1.54342 SL:1.54023 CLosed at SL @ 1.54173

We had 1 pip slippage which sucked again with Oanda having some problems. Though 1 pip isnt so bad. Atleast I got out.

Net-16.9 pips

133

USD/CAD
Price:1.03155 SL:1.03479 TP:1.02855 Closed at :1.03252

here i saved myself by cutting out early. Price did eventually go in my direction, after hitting my SL exactly to the pipette. But no biggie at least my idea was correct and price was ready for a reversal. Have to take solace in that fact.

Net:-9.7 pips

EUR/GBP
Price:.87219 SL:.87532 TP:.86919 Closed at .87281

Seriously i checked these numbers but that’s what the ticket said. Looking at it i think i was trying for a scalp short of that top. But these numbers make no sense.

Net: -6.2 pips

GBP/USD
Price:1.54468 SL:1.54726 TP:1.53966 Closed at SL

tried to take a really poor level. bit me in the backside.
Net -25.8 pips

EUR/JPY
Price:103.065 SL:103.432 TP:102.462 Closed @ 103.109

Again this time Oanda REALLY screwed me. I had been watching this trade like a hawk and it finally shot into profit or about 13 pips but as soon as it does that the Java Client crashes and I have no way to close my trade. I am having real troubles here, not that its all oandas fault, i definitely made bad trades but this was one where I should have had it in the bag. I wanted to close at the blue X but ended up closed at the Orange X because of that client error, yeah i was taking a 5 min level that could have been a better set up. and not taking a 1:1 trade but still I should be able to exit when i want to exit.

Net:-4.4 pips

Total for the day:-23.9 (would have been much less if it hadn’t been for oanda’s BS!!! Since i could have locke d in about 12 more pips reducing my loss by half)

Weekly Capital % change: -4.24%
Overall Capital % change: -8.81%

135

I am going to abbreviate my charts and only show the daily charts since i have so many currencies now. The thicker lines are weekly or daily levels, The thinner lines are 4H.

EUR/USD

We have a lot of supply building up on top. We are still in that daily demand from last week. We bounced up out of it and back inside again. IF you had taken a long there at that line you would have made a good 350 pip move. I have not held the discipline to take that also the R:R was quite bad. But inside that area definitely gave me a long bias. Now I don’t believe its going to do much good. The 2 demand levels labeled below are fresh and will provide some good chances. Also so many levels on top of levels supply looks good.

GBP/USD

We are now in the sloppy demand level i talked about last week. We are showing that the close of Friday was a bull day. with the previous day having a large downside wick, slightly piercing the bottom line of the zone. I will be looking at how we open Monday to see if i will maintain a long bias.

EUR/GBP

we have supply 1 which is levels on top of levels. I made great trades just harping on that level all week, actually that gave me my most profitable trades. I think there is still strength there as well, due to level on top levels as well as the 1st line of defense has not been pierced 50%. You can see this demand zone below, so i believe we are going to be raging for a while bouncing between the 2 levels, So take longs at the demand into supply and turn around. Very easy way to make some pips.

USD/JPY

We have just been making supply after supply. Although this pair has just been doing whipsaws for a really long time. I actually would wait for confirmation from taking that level sitting right above the highlighted area. The area of ranging and whipsaws are so close.

136

EUR/JPY

2 supply levels no demand. This is pretty much the same environment as UJ. However EJ has had a cleaner chart and looks much easier to trade if I was going to choose a Yen pair. So free air is going to be in play here.

GBP/JPY

Also much cleaner chart than UJ. But the levels aren’t as strong.

USD/CHF

Here we can see supply. I had a limit order to go short there but didn’t get filled by a couple of pips. Cant fret over the loss in pips though 150 pips would have been nice :stuck_out_tongue: but if it was a loser i wouldn’t feel that way. Demand 1 has been pierced over 50% so i will not be taking a trade there.

137

EUR/CHF

We have a correlated supply level here. But it has been severely pierced as well. CHF has been very difficult to trade for me since the intervention.

AUS/USD

Some levels on top of levels but they are quite far away. We were in a large demand zone and has only slowed down price, haven’t seen a bull close yet. The demand zone below, looks like somewhere i will look to go long.

EUR/AUS

This supply level we are in is highly correlated with the demand level of AusUsd above. This will give me a great foundation to use currency correlation to decide which zone i should trade. I chose to stick with EUR/AUS last week, we will see after this weekend what happens. But you can see here how correlated pairs can be used.

USD/CAD

We have been to this supply several times before. Wait for PA for confirmation.

138

EUR/CAD

Daily Supply is very wicky, which isnt good. But you can see it still provided strength to reject price and what looks likes create a daily doji.

[U]NEW RULES FOR THE WEEK.[/U]
[B]
Risk Management: .25% (reduced again due to loses)
Moving SL-> BE: we will no longer be moving our SLs
Daily Trading Limit: 3 trades per day[/B]

139

Today was pretty good. Experimented with a few things i learned over the weekend. Mostly Price Action and scaling in. I think if you are going for large moves like 50+ pips there are enough times where price will retrace at minor S/R that you can enter again while only risking the same amount. So my original trade will be at BE, while my new trade only risks the same amount as my original or less. I move to BE on the scale in immediately so they get BE’d out a lot but it only takes 1 to make it to the TP that you really reap a reward. I may make the scale ins 50% of my normal risk, but i havent decided today was the same as my normal trades. They worked out well, but that could just be luck.

GBP/USD
Price: 1.54782 SL:1.54259 TP:1.56282 Closed at 1.55130
Scale in price; 1.55113 Close :1.55124

This one was pure PA. i accidentally closed this one due to a miss click and trying to manage my scale in. I meant to move my scale in to BE but i clicked the wrong ticket and ended up screwing myself. I had been studying ‘alternative technical templates’ ‘Steve nison’s Profiting in Forex with Candlesticks’ and Nial Fullars Price action course this weekend so i thought i would give it a whirl. Worked out well would have been better if i wasn’t being stupid.

Net:+34.8 + 1 pip scale in :28:

USD/CAD
Price:1.02874 SL:1.02550 TP 1.03774 Closed at 1.03526
Scale in 1: Price 1.03146 Closed:1.03146
Scale in 2 Price:1.03251 Closed 1.03528

This was a 15 min level. But i show you the 5 min chart so you can see how i scaled it. The process makes a lot more sense there. So i combined S/D basically with PA again. Here taking the trade when it broke the 15 min range high. with a stop below the level. I scaled in after the ranging was broken in the 5 min and it did me nicely. This was a phenomenal trade.

Net:65.2+27.7=+92.9

Still have 1 more bullet, but i dont know if i will use it before i sleep. If i do i will up date if not my total is.

Total: 127.7 pips

Final Trade of the day Fiber Scalp
Price:1.35241 SL: 1.35503 TP:1.34491 Closed at 1.35116

I was tired and just closed the trade I really regret that cause it was a great set up and really worth 50- 70 pips. But i took my 10 and was off to bed.
Net:+12.5 pips

New total: 140.2 Pips. Not bad for the road to recovery day 1

140

nice trading bud :wink:

141

Agreed really nice tradeing

142

Thanks for the boost of confidance guys. I hope I am progressing on the path to the promised land of pips. However Today was pretty much the exact opposite. But Thats ok I learned a couple lessons.

EUR/AUD Long
Price: 1.37433 SL:1.37131 TP:1.38633 Closed at SL 1.37132

Here was a bit of ****yness and also the definintion of a level. I had been playing ranges so well yesterday i saw this opening. Its a 1 Hour demand level that has been untouch. However it sits within a daily supply level as shown. I usually conclude that if a level has been pierced over 50% then it is null. However that usually is after a price reaction has already occured in the direction of the level. This was not the case here. So basically we broke down out of the range and that knocked me out.

Net:-30.1 pips

Eur/AUS short
Price:1.3690 SL:1.37535 TP:1.3595 Closed at BE 1.36850
Scale in: 1.36605 Closed:1.36751

Here was a huge blunder in the scale in. But once I realized my mistake in taking a long inside a supply level. I immediately got short, as we broke the ranging to the down side. I was in profit for a majority of the time. However once i scaled in that ended me up wiht a loss over all as rice retraced and is currently testing the support to resistance.
Net:-14.1

I dont have time to finish this now I will continue later lets just say i have a hand full of losers but my girl wants to watch a movie. So yeah real life is pretty important too!

143

If we stuck into that gbp/usd long we were in, that would have hit the TP of 70 or so pips easily. No wimp out next time.

144

Yes Its true goldy, But i didnt touch my stop at all. It was just popped naturally. I will show the chart below. But Now for a continuation of my journal from yesterday, as I was unable to complete it.

GBP/USD
Price:1.55510 SL:1.55270 TP: 1.56260 Closed at SL (slipped nearly 2 pips) 1.55289


I would have been stopped outby 1.5 pips but according to my close 3.5 pips. Which is unfortunate but price again did as i expected, just barely outside the range of my predictions. I was going with the trend and certainly at this 1H demand level here that we retraced too.
Net - 22.1 pips

USD/JPY
Price:76.641 SL:76.761 TP:76.281 Closed at 76.639
Scale Out 25% at 76.578

This one triggered right before i went to sleep. I moved to BE and took a small profit. You know its in my rules to not move my BE, but after reading the interview with Paul Tutor Jones in Market wizards. Screw that. I will be protecting my captial to the fullest, If i get BE’d so what I will have my money left to keep trying until the market just gives me a stellar move and hits my TP no problem. NO need to waste money on bad or slow moves, IF i can get into a position for a free ride or small profit fine.

Net Average weighted: +3 pips

OH my emotional trades of the day because i missed out on a big move, cost me
Net- 22.6

Total day -47.1 Pips

145

Well my month of studing forex everyday all day has come to an end. I havent realized it but time has flown with relative speed. Have I learned alot? I guess. I do feel i have progressed a lot as a trader. Maybe i have taken my 1st step up. Seeing things differently and able to converse about trading and learn from others effectively. Basically i can speak the langauge now. Anyway enough reminicing lets get down to the dirty deeds. TRADES

GBP/USD Short
Price:1.56991 SL:1.57489 TP:1.55489 Closed @ 1.56390 63.1 pips
Scale out 1:1.56684 -30.7pips 25%
Scale out 2:1.56172 - 81.9 pips 25%

Definately my best trade of the day. However this is a perfect example of why you need to have some kind of time stop. You can see here that the price is ranging. If you look at a 1hour chart its clearer. But that ends up building mass, Something i dont want to happen. So i should have closed then. However Since i wanted to let the trade run and stick to my plan. But i really would like to impliment something that would be rule based so i can get out of trades if they take to long to do what i want them to do. Anyway I got a beautiful wickfill in my sleep, yes i can make amazing entries while i am sleeping. And woke up to beautiful profit.

Net w.average: 59.7 pips not bad but if i would have gotten out at time spot iwould have had 70-80 pips.

USD/JPY
Price:76.501 SL:76.34 TP:76.813 Closed at 76.376

Here is what i did was use price action as an excuse to take an inferior level. You can see here this level is made of whipsaws. Now because i saw a 1H pinbar i took it. BIG MISTAKE. End up getting filled at the to of the next candle on the final last gasp of the buyers. I would have barely been stopped out as we see current PA jsut took it slightly above break even but no where near tp. So this time closing out saved me some pips.
Net-12.5

News scalps results.
+5.92 pips over 5 trades. Yes A lot of BEs got hit and i missed the big move on cable becasue i was aggressive with my SLs. But i really think preserving my capital is more imortant than gains. I doubt wiht this attitude i will go broke. But i may in fact never get rich.

Total +53.12

146

I Didn’t have access to Internet at all today for some reason my house is cut off or something. I had this order placed yesterday I believe but it worked out incredibly well. Not being able to touch it except to move to BE while using free wifi at 50 pips. I was hounding to check it ever moment but it worked out better. I can’t tell you the info exactly because I can’t open my broker platform. I will post a chart and details when I get a chance. But this might be my largest single trade result. Definitely for a JPY pair

GBP/JPY
Price:118.857 SL:118.458 TP:119.858 Closed TP

Here is a 4H level, its actually R-B-R. but we were trending so I took it. one of my best pure S/D trades i think. No meddling just moving to BE and hit没有hitting my TP. Its what tradings all about.

Net:100.1

147

2 losers 1 winner. i took a PA only based breakout trade and that eneded up being a mistake. Atleast I only risked half of my usual. But still I have to stay away from experimental trades, or just keep it to demo. I like PA but it has to work in tandam with my system, not as a system alone. I find when i mesh the 2 it works out more often. Also I am going to develope a time stop out method. Or just use discretion. I keep talking about it but never do. I have the feeling I should and maybe I should go with my intuition more often. Because it usually is right.

EUR/USD
Price:1.35419 SL:1.35152 TP:1.36422 Closed at SL1.35150

1H level on an uptrend. it just didnt work out i guess.

Net-26.9

GBP/JPY
PRice:119.469 SL:119.094 TP:120.469 Close Trailing stop 119.847

Used some nasty SD level but with price beginning to range and then a bull englufing was good, entered after that to the upside. with the trend. Worked out.

Net+37.8 pips

EUR/CAD
PRice:1.41233 SL:1.40555 TP:1.42333 close at SL 1.40852

I tried to make a Pure PA play break out here. Didnt work. I moved my SL to the middle of the ranging once i realized that if it re-entered the range then my trade idea would be invalidated. I am so used to SLs at the bottom it was just habit.

net-31.8

I scalped net 15 pips from Fiber, u/cad and UJ. just aggressively going with the trend and watching 5min charts. Moving to BE and any sort of resistance closing. with 10 pip SL. not a great strategy but i am sure i will learn more scalping techiniques. i was 4 winners 1 loser

net-4.9 pips

Weekly captial change: +1.118%
I didnt make my goal which is 1.5% but that goal was set when i was trading .5% trades. I was 75% of the way there trading .25% so next week when i go back up in size. it should be very much attainable.

Pip weekly total: 241.42

I am very pleased with myself. I definitely feel like I can see things in the market now. I hope to push this even further.

148

Sorry for your trade loss but actually you were trading against PA

You were fighting against a short and long term downtrend, the signal of the bullish engulfing was a weak signal and support was weak as well…

That signal was good for only 10-15 pips

But look at PA in the daily:

604×793

three pin bars (although with wide real bodies but 3 in a row) showing strong resistance and giving us a clue where the flow of orders of real money is … then price has only one way to go

in this case PA worked perfect… this signal is good for at least 100 pips

149

hmm i just looked yunny1 daily chart and it made me speechless !!! ( no wonder that iv been trading crap since starting using MT4 charts for higher TF entries…) :17:
take a look and maybe you guys can help me with that…

thats my mt4 demo account for charting purpose and i got daily chart like this ->

yunny1.jpg700×327 14.9 KB

and now checked with my GFT live account and its same as yunnys chart. ->

yunny2.jpg700×455 45.4 KB

is it possible to change my MT4 timeframe or something to match it with GFT ?! thanks for advice !

150

What is gft?

151

Different brokers in different countries, both using their midnight to midnight for daily candles. Check where the brokers are for each charting package
I’m sure there’s whole threads on this subject somewhere.

Wally