Trading Journal (only my take)

A relatively quiet weeks trading...... for me at least.

Took some profits on other pairs I'm involved in, adjusted some stops, a couple of pairs triggered...UCHF being one of them as shown a few days back, and that was about it.

Seems to me that the markets are generally jostling around for the time being and that usually means there will be plenty of false moves ahead for all, so care obviously required....as usual.

I have pending orders in place for a few pairs, and should they trigger then fine, but I won't be actively looking to do much more than what I already have in place personally until probably weds onwards when the picture should start to unfold.

Those that trade the lower t/fs will naturally find what they consider to be good entry opportunities, but they will also find themselves chopped about and then blame the market when stops are hit. This all means that the edge greatly favours brokers more than traders at this point in time especially on lower t/fs imo, hence my patience until that edge is sufficiently in my favour to get involved.

The market is far far more resourceful than any trader remember, and will inflict as much hurt as it possibly can, and most particularly in these uncertain times that we are in at present. Keeping the powder dry is as good a method as any for now!

Update for continuity purposes on live trades shown previously.

Other live trades that I'm involved in are in varying stages and are not shown but have an identical and consistently rational approach to those illustrated.

NU...TP1 hit sometime during the night for a neat 215 pip gain. Now retracing and may trigger a PO that's lying in wait. T2 is obviously still in play. No action needed from me at this point regarding my plans...it's playing out very well as it stands.



USDCHF...Now 2 positions in play and again no action from me required for now.



As always, time is the main player for any outcome which applies to everything we ever do in our lives...including trading.

Your last two charts (with the ZZ) are much clearer as to what (I think) you are doing. I'll use just one word - pullback.

Very simple chart BUT I think not easy to master this strategy.

Study D1 chart, make a decision - set pending order, TP1, TP2 and SL.
Is the trailing SL automated.

Re the above fair points

One word description - pullback - is as good as any way to say it in one word.

Not a lot to master for me....simplicity is first and foremost

I trade (mainly) via the daily chart. No automation needed on that t/f

Imo, it is the MMs or call em what you like, banks etc etc that are the controllers of the market levels. We, the traders, look to take a tiny fraction from them. They have enormous resources of both funds and time which no trader can compete with, which means we need to be smart in a number of areas in order to succeed, and I'm not talking Phd level smart, just good ol common sense level smart which takes entry, stop, tp, management and psychology into account in a cold and clinical manner. This is business remember, not some hobby, with only one objective....make money overall.

The blueprint of how that's achieved is different for everyone....emotions/psychology often get in the way for a lot of people even though they may initially have a perfectly rational approach to their trades. That area starts to get murky for many and often accompanied by over analysis leading inevitably to indecision, then doubt....then loss!

So, yes, the big boys are the controllers of the market, but we are the controllers of our own actions....it's important to keep that fact in mind always.

A quick review of some of the threads throws up much the same that has been covered a million times already, just cloaked differently in most cases.

The cubby guy is still trying....he will fail as he usually does because his fundamental understanding and approach is flawed....that's all I can say.

The prophecy thread also caught my eye, however,....not for good reasons I might add. That pipsy moron guy has serious mental issues, he can't communicate properly for starters...does he think he's some kind of gangster or something lol. He posted here about a year ago or so, and I immediately saw he was an idiot after 1 post, and I took the appropriate action straight away.

It amazes me that others cannot simply deal with such people in the same way. Why get drawn into nonsense exchanges with an anonymous nobody, because after all, they are only seeking attention to try to supplement their own miserable lives at your expense. Just cut them loose and move on I say.

As I said, everything's much the same, not a lot changes on these forums, but there is the very occasional intelligent post worth reading....and not just gossipy rubbish that makes up the bulk.

To me, it seems that there's an increase in indicator driven systems all of a sudden. Indicators work some of the time, a bit like a broken watch, it's dead accurate twice a day and wrong the rest of the time.... brokers like the indicator junkies for that kind of reason, they know that reliance on them will result in loss.

A select indicator such as a moving average for example in conjunction with the market price levels can help if applied sensibly (but definitely not oscillators), of course the moment several kinds of indicators are being used, then major conflict is bound to follow causing the confusion for thousands of traders across the globe.

My style of swing trading relies on price levels along with smart trade management, and without any need for indicator support other than a zig zag. I have no news or contradictory indicator signals to concern myself with and for me trading is a breeze, without the headache of blaming an indicator giving the wrong signal.

Not many will be able to survive in this game, that is a fact, let alone be comfortably profitable. Not many are able to reduce the market to meaningful price levels which are the tradeable areas, and until such time that traders can figure that aspect out, then there's practically no chance of them moving forward, instead they'll be fumbling around in the dark as most have done for the last twenty years or more. As usual, this is just my take, but the evidence is pretty clear judging by what I see on FF at least. Plenty make their claims of success on here.....but I'm pretty sure most realise the truth is far far different in reality.

No doubt some will wonder why I don't detail my approach....well that ought to be obvious I'd have thought....I need the majority to be wrong more often than not, which then gives me the optimum price to take my positions

Wednesday's on it's way, my preferred day to get involved with any opportunities to enter the market if the opening to do so is present....I may post a chart at some point.

Another thing I find across all forums either here at FF or any other forum for that matter, is the misuse/misunderstanding of certain terms, which are frequently used by traders, maybe to give the impression to others that they know what they're talking about!

2 or 3 examples for instance...

a) support and resistance levels. That should raise questions to traders....do they know what they are saying, it's unlikely. First, they need to ask themselves the obvious, what is a s + r level and is there such a thing as one. Do they really mean a s + r zone as opposed to a level. If so, what has constituted the identification of such a zone.

b) price action....what's that supposed to mean....again probably used most often to give the impression to others of their in-depth technical knowledge lol. It's a undefined and totally meaningless term on it's own, however, you could have time and price action...tap, but most don't have much of a clue about such things.

c) structure....again, what the hell is that undefined word supposed to describe...yep...nothing.

It should be obvious to most that these 3 examples of what I consider to be ridiculous terms (there are plenty more btw lol) are in actual fact all related to one another. A trader who wants to get ahead, should, imo, unravel these so-called precious terms which are completely out of context when someone throws these kind of terms into a sentence....they have a motive for doing so....you can probably figure out for yourselves the reasons why!

[quote=Landline;12267624]A quick review of some of the threads throws up much the same that has been covered a million times already, just cloaked differently in most cases. The cubby guy is still trying....he will fail as he usually does because his fundamental understanding and approach is flawed....that's all I can say.

So, as predicted, the cubby guy has once again become the laughing stock. When will he learn that his approach is flawed from top to bottom... he seems an ok bloke, but he has to face reality....a trader he ain't lol. I don't understand at all why he seems to repeatedly put himself out there to fail so consistently as he does....what is his reason for doing that ….it makes no sense at all. I can only think that his motive could only have been to impress any potential backers out there, but for him that has terminated any possibility of that forever!

Will he learn anything from his experiences....unlikely, he might be a decent bloke and all that as I said, but his stubborn refusal to accept when he is wrong is obviously deeply ingrained within and that will be his biggest battle to overcome in his case.

For others, the takeaway is simple as the evidence clearly shows.....don't follow that kind of path, or pay the price if you do!

Is there any logic at all to give a stranger a proven successful strategy on a plate.....of course not!

Some of the main threads go round and round and round....arguing with one another continuously. No one actually makes inroads, and there is a main thread that exhibits exactly that point at this time, and which looks to me as though it's heading towards a black hole after months of nonsense lol.

That nutcase guy who's not the full ticket I think triggered it all, but whoever it was they're all leading one another down the wrong path imo. They, like most threads need to take a reality check, and return to basic methodology rather than all the mad stuff that they've somehow managed to experiment with.

The motives are always hidden away, but I can safely say it will never be to divulge a proven means of trading successfully. There's no way for example that I will give away my approach, and it's a given, that no one else would either.

It shouldn't be about who can write the most words lol....if anything, it should only ever boil down to who can make money, nothing else.

Ref the above...

It looks like the thread owner is gradually getting his thread back in order. He seems a smart enough bloke to achieve that.

His problem is though, imo, is that the fundamental premise of the trading approach that seems to be dominant, (as far as I can understand that is), is too complicated, and if that is addressed, then he could succeed in taking his thread to the next level.

He still has a lot of hurdles to get over, generally people, and if it were me, I'd be cutting most of them loose and retain only those that were making positive contributions in the direction that he thinks is best, and not what others think is best.

Everything on a chart should act as a reference of information, and too many references will cloud judgement just like anything else in this world. Essential information, ie enough to make a decision is all that's required....nothing more, yet it's constantly seen across every thread that bits n pieces creep in.

As usual, this is just my take, but I may post a simple chart with where I'd have made entries on perhaps the most difficult pair to trade at present...EU, using an M15 chart and trading the swings according to my simple process and taking just 10 pips profit per trade. I'd have made approximately 10 or 11 entries from 23rd May til now, and 9 maybe 10 would have been winning trades, and although it's not a t/f that I typically trade, mainly because I'm not interested in watching charts all day, the process is exactly the same more or less to my normal trading procedure, albeit with different mm

The point being, only enough references were needed to achieve this, and I'd suggest that the above thread owner takes that on board, as indeed should everyone else imo……. but of course no one does because they just love their indicators lol.

Lol....ya gotta laugh

Idiot man walking alert....you know who I mean. Just seen some of his posts....he really is a 24 carat nutcase which ought to have been obvious to anyone right from the start I'd have thought, and what's with his 3rd person comments..... completely nuts.....somehow he also seems to attract a bunch of numbskull disciples in his wake. Very typical behaviour of bossy megalomaniacs....history is littered with that type, you know, the ones that have gotta have their own way or they throw their toys out the pram....trump, napoleon, hitler, gadafi, idi amin...the list is endless throughout centuries and all had/have similar dysfunctional personality traits and always ends in disaster....steer well clear I say or be dragged down to their depths.

The opposing thread (if you like). is recovering, but still seems bitty, with too many variables imo at the moment. But, nevertheless, it's clear, the guy is very determined to arrive at a working solution, and full credit must be given for that....how it ends up remains to be seen, but he seems to be developing a clearer vision now with regards to a defined direction...which is positive and I hope it all works out.

As for me, well, I can't deny the ping pong has been entertaining ...so thanks in particular to nutcase for that lol.

It's certainly been an interesting week, not just on the trading front, but also of course on the FF entertainment side.

Give nutcase a tiny bit of fuel and he always comes up with the goods.....never failing to set himself alight lol. Keep up the good work guys, it helps us all I'm sure when things are a bit dead.

There ought to be an "entertainer of the week" award....nutcase would have been on a roll I reckon, or at least some of his disciples would have been at least lol.

Anyway, back to the real world....unlike many, I don't teach anyone here how to trade, only people that I personally know.... I just trade my own way, but do throw the odd bit of advice here n there. I have my own very clear views on anything I do in life in general....and my mantra has always been to simplify. Einstein managed it pretty well after all lol (E=mc2).

I attach an EA daily chart with 3 PO's. Nothings triggered on this pair as yet (initial order nearly did, but nearly doesn't count). There's nothing fancy to look at on the face of it, because of simplifying! But there is a logic at work believe it or not (for me that is).

Millions of ways to assess a potential trade....some like "in your face" complex....not for me thankyou.

As usual, if I find time, I will progress and post any trade that actually materializes from the PO's shown.

Imo, everyone on the planet with a mature mind (or not) has a motive in anything that they do in their lives and their motives will always have an objective, whether they be passive or aggressive in varying degrees. That's who we are as humans....very simply put of course.

That psychology is in play all the time for all of us, and some choose to be for example on the radar as it were and others prefer stealth mode.

Figuring out both the motive and objective in either case is where the advantage is gained in all of our lives, because we can then take the appropriate measures or counter-measures to maximise our own individual needs.

Collectively speaking, people are actually the main influence in the path that any individual takes (in most cases), and nature of course plays its part as well...earthquakes, floods etc.

It stands to reason therefore, that the same rules imo, should apply for retail trading...ie what is the motive and objective of the big boys, banks etc. Knowing that, can provide enough of an edge to successfully trade the markets. In short, read between the lines, because there's nearly always deception going on!

Regarding my live call on EA, 2 po's were triggered, not a lot to shout about at this stage and will likely post an updated chart perhaps later today or maybe Monday.

My previous post dealt with some perspective stuff in a subtle manner, presenting a message.

Construe accordingly is my advice. There are hard sells, soft sells and the long sell, or any combination of the same.

Certain posters on FF, or anywhere actually use these approaches, and imo I reckon the long sell is in play on one of the threads.

Be aware, stay alert, be careful.....there's always more going on than meets the eye....subterfuge is a powerful tool, learn to recognise it in trading..... and sales!

Regardless of anybody's chosen approach to trading, there is always exactly the same general objective...ie predicting what will happen next and that's not much different to life, either consciously or sub-consciously. The term next is naturally a relative term because it obviously concerns the element of time, which we as a
conscient specie (whilst not fully understanding the concept) have conveniently broken down into handy increments that we can understand and therefore able to implement our plans throughout our lives.

So what I hear you say. Well, humans have become pretty good at predicting after eons of evolution etc, and these days, with regard to trading, there are countless means of predicting what the markets will be doing next.

The "countless means" is the real problem.

Eg...

Gardner A has a garden shed with 50 tools in it. He knows what he wants to do in his garden and selects a tool to start the job. 5 mins later he changes his mind, goes back to the shed and gets another tool and tries that, it works, but he still goes back to the shed and picks another tool thinking that one might be even better and tries that. He ums and ahs, 3 tools tried, all work, but still not satisfied, looks for a fourth. Now 4 tools, he is spoilt for choice not to mention a little confused and very indecisive which one he should use, and he's spent an hour faffing about and no where near finishing the job.

Gardner B has a similar sized shed and wants to do a similar job in his garden. He has 6 or so tools, not very well equipped, but he gets on with what he has. He only has the one tool for the task in hand, not necessarily ideal, but good enough. 20 mins later he's finished, not the greatest job perhaps, but acceptable.

The point of the scenario is obvious, but choosing the right approach from the countless choices available for a trader it seems isn't, and is there anything worthwhile to learn from any of that....probably not for most, but hey....it's just my take lol

Many systems/approaches, including my own need to be able to spot continuations and reversals. How we all go about that is normally an individual process in some form or other, some may decide to use a tool to ease that process to act as an indication of reversal under the microscope so to speak.

Whether such a tool exists I couldn't say, and I can't think of a suitable acronym if such a tool did exist lol.

A brief update re EA trades that I'm involved in as shown previously.

3 positions were triggered and are still currently in play. The market has marched north against me at present and taken out a previous high in the process.

I trade from a daily chart, and whilst the positions are moving the wrong way, I do have appropriate stop levels in place. There is nothing for me to do regarding mm at this stage. The simple fact is that either I will be stopped out first without getting a sniff of a chance of recovery (which is looking the more likely possibility at this point to be fair), or the market will turn around and move south as I originally expected.

I play the percentages, and of course nothing is 100% as this live trade on a real account currently shows, and if nothing else, proves that well laid plans do not always work out as we expect.

Anyway, enough for now, I'll update at some stage if anything of interest occurs on these trades, or anything else for that matter.

The normal chirping goes on with handbags and all sorts lol.

The nutty one with the screw loose doesn't actually give any detail on how he trades, he's too busy dealing with his schizophrenia I reckon lol

Still, not my problem....I'll leave em to it, and I'll sit here in the peace and quiet away from all that mad nonsense.

Saying that mind, the madman did mention about time and price I noticed (which surprised me I must say). He must obviously have some awareness of the concept at least, even though his knowledge is evidently limited and flawed judging by his idea that tap is squared....I got news for him....it aint!

Tap figures in most of my trading and whilst it's a strange concept for the majority, it is actually easy enough to implement in trading once understood. I've talked about the time aspect etc in the past, so not gonna repeat all that again, but just wanted to clear up that squaring is incorrect that's all, and that practical application to trade using a tap concept needs a bit more consideration...not much more, but a bit more in order to use effectively....at least so far as I'm concerned that is.

Nothing more to say for now