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Trading Journal (only my take)

  • #21
  • Sep 19, 2017 1:27am Sep 19, 2017 1:27am
Quoting Landline
I decided to start a journal of my own for a few reasons. They may become apparent as I post more. The chief reasons are though... a) I have enough time to between trading b) I've had enough of the b/s hindsight trading from others, and who I refer to as FTs (Fantasy Traders). c) Allows me to express my views Most of the threads and the majority of traders are rife with nonsense hindsight, with only one or two exceptions. Whilst I may not agree with a traders trade, I will always respect someones' transparency if they post their trade in real time,...

Hi Landline,

Good to see you with your own journal.

AUD/USD D1 looks interesting to me....
Attached Image (click to enlarge)
Click to Enlarge Name: 19th Sept 17 AUD:USD D1 Pending Short.png Size: 66 KB
  • #22
  • Sep 19, 2017 3:41am Sep 19, 2017 3:41am
Quoting stevepatt
{quote} Hi Landline, Good to see you with your own journal. AUD/USD D1 looks interesting to me.... {image}
Hi Steve, yes I agree AU is an interesting pair for me also to short and prefer to get involved around the 0.80240 area. Your entry will still work of course but you may experience a bit more dd imo before becoming favourable.

Nice clean chart btw
  • #23
  • Sep 19, 2017 7:57am Sep 19, 2017 7:57am
Quoting Landline
{quote} Hi Steve, yes I agree AU is an interesting pair for me also to short and prefer to get involved around the 0.80240 area. Your entry will still work of course but you may experience a bit more dd imo before becoming favourable. Nice clean chart btw
The market is tip-toeing along towards the area I'm interested in before shorts trigger.

Attached Image
  • #24
  • Sep 19, 2017 4:33pm Sep 19, 2017 4:33pm
GBP/AUD D1 Pending Limit Sell.

The GBP is stretched across the board but this looks a better opportunity to me.
Attached Image (click to enlarge)
Click to Enlarge Name: 19th Sept 17 GBP:AUD D1 Pending Short Trade.png Size: 67 KB
  • #25
  • Sep 20, 2017 4:24am Sep 20, 2017 4:24am
One of the most critical aspects of trading as many will know, is timing the entry. A typical entry signal that a trader uses may well present itself, but that alone is only part of the overall equation. In my case, I apply tap before deciding whether to take a signal or not, which in essence means that I need at least 3 things to occur which I won't go into, other than to say they are time, price and signal.

Without those, means (for me at least). that the time is not right to get involved on any given instrument.

A big issue that traders should address for themselves in my view, is keeping their powder dry until the optimum conditions to trade are met. Many get involved upon the first entry signal seen, and are often stuck high and dry for days on end (if trading D1 for instance), with next to no movement, and this alone locks up valuable margin resources.

What I've said, is designed to reduce the effects mentioned, and in some cases acts as a re-set button when the conditions of the impending trade direction are no longer valid.

Each trader should imo, consider the above carefully, and apply their own plan to counter the timing issue to improve their entry.

Of course, each instrument, and each t/f share the same difficulties to overcome in varying degrees, but the principles are still exactly the same nevertheless.
  • #26
  • Sep 20, 2017 5:56am Sep 20, 2017 5:56am
Hi Landline,

I hope you don't mind me posting in your journal?

I don't want to just assume.

USD/CAD D1 Pending Limit Buy

Missed the first entry on Wed. 13th Sept.
Attached Image (click to enlarge)
Click to Enlarge Name: 20th Sept 17 USD:CAD D1 Pending Long Trade.png Size: 67 KB
  • #27
  • Sep 20, 2017 6:14am Sep 20, 2017 6:14am
Quoting stevepatt
Hi Landline, I hope you don't mind me posting in your journal? I don't want to just assume. USD/CAD D1 Pending Limit Buy Missed the first entry on Wed. 13th Sept. {image}
Hi.

No problem, you have shown that is easy enough to comply with the rules laid out and therefore you are welcome to continue.

The UC was another funnily enough on my radar back on the 13th, where I posted an ideal area to long from. It didn't happen, but I've been expecting a reasonable pull back to take a position. All criteria is still currently in place, I just want price to be lower, anyhow, I like the fact that you have identified something quite similar. Let's see how it goes.
  • #28
  • Sep 20, 2017 10:45am Sep 20, 2017 10:45am
enough of the b/s hindsight trading from others, and who I refer to as FTs (Fantasy Traders)

better pic @ https://www.forexfactory.com/attachm...2&d=1505907358
Attached Image (click to enlarge)
Click to Enlarge Name: xu.png Size: 101 KB
da n0o0b + $hit_Disturber
  • #29
  • Sep 20, 2017 1:39pm Sep 20, 2017 1:39pm
Hi Steve, I just saw your post on gridding. Maybe the points I raised recently on that actual subject are starting to make more sense now hopefully.
  • #30
  • Sep 20, 2017 1:59pm Sep 20, 2017 1:59pm
Quoting Landline
Looking at DAX, the underlying long term direction is up, daily is up, momentum is up and I therefore have a clear bias to long....and looks to me like any current short term retrace is an opportunity to buy. On that basis I now have a long PO in place that fits my approach. It may/may not take a couple of bites to get the right entry, don't let anybody kid you otherwise, especially the FTs haha. Either way, from a logical pov, my target (if achieved) will offset several failed attempts. H1 chart attached. {image}
Closed out 80% of DAX now stop adjusted on remainder...pressure off

Attached Image
  • #31
  • Sep 20, 2017 2:02pm Sep 20, 2017 2:02pm
Quoting Landline
Hi Steve, I just saw your post on gridding. Maybe the points I raised recently on that actual subject are starting to make more sense now hopefully.

Hi Landline,

They are, a lot more discretion needs to be used when taking Trades and not to just enter on a set number of pips.

It did feel like playing Russian Roulette.

It has just given me an idea for the type of Trading I'm doing now though
  • #32
  • Sep 20, 2017 2:10pm Sep 20, 2017 2:10pm
Quoting stevepatt
{quote} Hi Landline, They are, a lot more discretion needs to be used when taking Trades and not to just enter on a set number of pips. It did feel like playing Russian Roulette. It has just given me an idea for the type of Trading I'm doing now though
Good....fortunately you're a bright enough sort of bloke to make your trading adjustments in a logical sequence.

AU has been an odd ride today for sure btw.. I guess you got stopped...I survived by 10 pips, and have made a minor stop adjustment just now. I'm still vulnerable at this point however. I'll post a chart, hopefully if/when tp1 is achieved.
  • #33
  • Sep 20, 2017 4:42pm Sep 20, 2017 4:42pm
Quoting stevepatt
{quote} Hi Landline, Good to see you with your own journal. AUD/USD D1 looks interesting to me.... {image}
AUD/USD D1 Short Trade Result

(-50 Pips) (-1%)
Attached Image (click to enlarge)
Click to Enlarge Name: 20th Sept 17 AUD:USD D1 Short Trade Result.png Size: 83 KB
  • #34
  • Sep 20, 2017 4:53pm Sep 20, 2017 4:53pm
EUR/USD D1 Pending Limit Sell

EUR/CAD D1 Pending Limit Sell
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20th Sept 17 EUR:USD D1 Pending Limit Sell.png Size: 66 KB
Click to Enlarge Name: 20th Sept 17 EUR:CAD D1 Pending Limit Sell.png Size: 73 KB
  • #35
  • Sep 21, 2017 2:14am Sep 21, 2017 2:14am
Quoting Landline
{quote} The market is tip-toeing along towards the area I'm interested in before shorts trigger. {image}
AU update.

TP1 hit,
50% of TP2 & TP3 closed out.

Stops adjusted, the pressures off and can let the trades run for now.

Attached Image
  • #36
  • Sep 21, 2017 3:08am Sep 21, 2017 3:08am
Quoting Landline
Not too many pairs have interested me today that fulfil my own criteria to add to what I already have in play. ECH on the daily though is good enough to short for me, and I now have a pending set in place, which I'll manage if/when it progresses. {image}
BTW...lest anyone thinks I am somehow cherry-picking only winning trades live. ECH is poorly performing and I'm now in very real danger of being stopped out without even getting into 1st gear. It's evidence, and worth highlighting that sometimes, even if all conditions are met, the trade refuses to listen and blows us away.

The attached chart puts into realistic perspective the latest situation on this pair, and as I said, it looks pretty grim. I'll update with any developments.

Attached Image
  • #37
  • Sep 21, 2017 6:17am Sep 21, 2017 6:17am
Quoting stevepatt
EUR/USD D1 Pending Limit Sell EUR/CAD D1 Pending Limit Sell {image} {image}
Hi Steve,

EU is a pretty good plan. EC can also be a fair plan, although I prefer the long option personally, but, both can in fact work, depending on targets. So, all in all, fair play to you.

Patience on the daily as usual is a the key.... it's easy to get frightened off by adverse price movement otherwise if not careful. In your case, you have made a thoughtful plan that suits your criteria, and they may take some days to both trigger and develop. It'll be interesting to see what happens.
  • #38
  • Sep 21, 2017 7:47am Sep 21, 2017 7:47am
Quoting Landline
{quote} AU update. TP1 hit, 50% of TP2 & TP3 closed out. Stops adjusted, the pressures off and can let the trades run for now. {image}
I've closed TP2 now a couple of pips early and closed another 30% from TP3, leaving 20% to run. I've moved TP3 target out, but not touched the stop.

The reason I've managed it this way is because there is potential that AU could become a runner. There's no guarantees of course, but maybe just maybe, and I want to be well positioned with equity and room to add on if it develops, and to do that I want little to no risk throughout the process (which could potentially be weeks). Anyhow, that's what I'm doing.

Attached Image
  • #39
  • Sep 21, 2017 9:19am Sep 21, 2017 9:19am
. Here's a Gold trade on Daily that I'm involved in right now. {image}[/quote]

Closed out 80% of Gold now ref D1 chart attached. Stop and target adjusted on remainder, similar idea to previous.

Some volatility can be expected depending on what Trump says mainly, so reckoned it was best to get some banked just in case.

Attached Image
  • #40
  • Sep 22, 2017 3:55am Sep 22, 2017 3:55am
Quoting Landline
{quote} BTW...lest anyone thinks I am somehow cherry-picking only winning trades live. ECH is poorly performing and I'm now in very real danger of being stopped out without even getting into 1st gear. It's evidence, and worth highlighting that sometimes, even if all conditions are met, the trade refuses to listen and blows us away. The attached chart puts into realistic perspective the latest situation on this pair, and as I said, it looks pretty grim. I'll update with any developments. {image}
ECH update. Stopped out. The trade never got it's nose in front at any stage, the stop did it's job in that my read was simply proven wrong and that is the idea of a stops usage.
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