LONG EURUSD -0,80% Loss 
What a beautiful revenge trade. Been watching EU all day long to buy, there was buying volume, and the trade was not against my rules. But it was an emotional and impatient trade, wanted to get a win to recoup some losses of this week, look how that played out.
Just out of curiousity, what made you choose a long trade?
I see you trade on the fast charts. But it looked like the major trend is bearish. Were you trading a pullback?
Good question, kind of asked that myself as well after the trade.
However, heres my analysis:
After all, this was just a bad trade. But if the above mentioned points are clean and perfectly illustrated how I just described it, the trade usually works out. All of my losers are a result of either breaking my rules or taking messy setup trades.
I took a look and I was thinking of some other TA. I did some trend lines. Of course, theyāre subjective and there are other places to put them.
But, this is what I saw. There were some fakeouts, but I think these lines are holding. Right now, it just broke out into some consolidation. I think the trend will continue down.
Somethingās brewing there.
Bro, I donāt know how you tolerate such a fast chart! haha. Iād be pulling my hair out.
Anyway, what do you think of these trendlines?
A couple of years ago I traded trendlines and patterns (cypher, sharks, etc). I think trend lines work great, especially on the 1H charts, the lower you go the choppier your trendline becomes sometimes. But I think trendlines are a great way of trading, especially when you combine it with key structure levels that can give great confluence.
It looks faster than it is. In the morning I identify the key pairs that are approaching important areaās. Then I look at the one hour volume to see if there are some nice high volume spikes. Then I just flag the pairs on tradingview and set alerts. When the alert is triggered I look for a setup explained above. The only issue I have is that I donāt always pick the best quality trades and because of this, I have to deal with some losses.
I realised I misread you question haha. I think they are fine, depending on your own definition of drawing trendlines of course. However, there are channels much cleaner than this one. Sometimes the mind wants to create something on a chart just to acknowledge you see a pattern, where there is none. So thatās why I try to look for the most clean ones to avoid this ābiasā.
Week 3: -2,33% loss
Expensive trading week, made quite some mistakes. Been pretty busy with uni and work this week, that might have messed with my psychology a bit. Wasnāt as sharp as I usually am, I didnāt trade the clean setups and kind of revenged traded the last one. However, every bad trade is one to learn from, and I did learn a lot this week. Excited for next week to at least do better, down 1,5% in total, my goal is not to lose money in my first month. Letās see how it plays out.
Have a good weekend everyone!
No trading this week, been really busy with finishing off the academic year plus work. So I decided to put trading down for a week since I had to focus on these two things first. Next week Iāll start trading again.
You are doing really well and you didnāt miss much this week, donāt worry. Iām also learning from Pete so itās interesting to see where you are taking trades. I will check this thread more regularly now.
Anyways good luck with the final year.
Good to hear man, Peteās way of trading is definitely interesting. Iām always open for discussion of trades, always good to exchange ideas!
Cheers, thanks a lot! See you around.
USDJPY long -1,02% loss
Took this trade off the previous support, showed plenty buying volume, but got stopped out unfortunately.
Came back from a nice holiday, been working on my trading a lot and developed new ideas/strategies. From now on I will only post my weekly results. So no analysis anymore.
Had a pretty bad week, broke some rules, which led to 2 big losses.
0,32% win, what a week, made some expensive mistakes. I was hungover and broke quite some rules (29/07), lost my temper and made 4 losing trades. From now on, I know that trading hungover is a bad idea. Apart from the hungover day, I made some great returns.
-0,82% loss this week. The last three trades were not against the rules, but could have been more picky. Overall not horrible, but the green numbers are better.
Made a new total trades, wins, losses, average gain, average loss, etc. I changed the strategy and trade in a different way. So the data was not valid, now it is.
hi dude, been reading ur whole journal while waiting for pound kiwi to setup for a buy again today, so far t didn t. i m also trading vsa and pete s aproach, and from what saw in ur analysis so far, i came to the conclusion that ur limiting ur upside while taking around 1% loss. some trades are entered when u shouldn t be trading due to low volatility, some cos ur impacient and u didn t waited for AR break or for a NS, NDā¦or some just cos u was bored i guess and decided that the vol was high(on 5m ) when in reality on 1hr u have low to medium volume.
that beeing said, i think ur on the right track, u just need to work on ur trade management, RR, and patience overall. don t take profit and don t split the trade unless high vol weakness comes in if ur long for example, and even then wait for the result of that high vol, cos often times in strong trends it just continues. always go with the 1hr background for targets i mean, not with the 5m. leave room for the fake break unless that already occured, or as u know, once the AR broke on low vol, price at most can do a low or high vol test of the AR and get rejected fast, if it isn t and it just stays below it on low to medium vol cut the trade. if the SL is 2 wide but the trade is good, then take a fractal fib from low to high on 5m (assming ur long) and set ur SL below the 618(again with the same principal in mnd that AR should hold and reject). once ur in a trade, don t touch it unless high vol comes in, but actively watch and act according to what price does and so onā¦
hope u don t mind these few comments that i ve wrote here, i m just trying to help imho.
to bad that u don t post analysis anymore, we could ve compared charts and possible outcomes.
good luck and don t deviate from the core of this aproach, has way more high win rate and profit potential then what ur experiencing, but it needs a lot of practice.
almost forgot, to avoid some stupid possible trades, zoom out on 5m and really compare the vol to be able to see if that s really high vol or not.
cheers
