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Trading Journal (only my take)

  • #261
  • Jun 18, 2019 7:31am Jun 18, 2019 7:31am
The quest for trading perfection seems to be most peoples one and only objective ….forums are full of people banging on about how they've conquered that particular gift of making money and try to bluff everyone with their ridiculous claims....their motives are very questionable btw.

Back in the real world of course it's a different matter.....banks, brokers, mms whoever the hell it is are on a mission 24/5 to beat retail traders, and they know a bit more about trading than Mr average joe bloggs, not to mention of course that they can also see exactly how the land lies and can simply take big positions as and when they need to take most money from us.

All the fancy indicators in the world cannot prevent that, and are actually the biggest part of their con trick by leading the unwitting retail trader exactly where they want to take you via the indicators.

A trader may get a small bite here and there, but nowhere near frequently enough to make it worth their while both in terms of time spent fixated to a chart and profit gained (if any).

The general geo-political climate has without doubt made trading more difficult than ever before, and the big boys are even smarter and cuter than they used to be, with many tricks up their sleeves to defeat the retail trader. Back in the day, it certainly seemed easier to make money trading imo, the market seemed more expansive then, nowadays though the ranges seems to have shrunk, but I could be wrong on that.

All that said, I'm still making profit, just not as quickly as I once did. My method has hardly changed, whereas my patience when actively involved with a trade has needed to become more extended, and I think this is really the key, certainly in my case with regard to the way I trade.

I suspect that others may feel the pinch more (especially as so many seem to trade low t/fs), but would never admit it.

I don't buy into all the indicator stuff these days (although I used to)…. they are traps imo. I fair better by knowing what a higher t/f is doing, then trade from the daily when I see a suitable retracement, and then jump back on to what I consider to be the underlying market direction or as some might call the so-called trend.

It's simple and probably the real basis if truth be known, for the actual way that most trade, even though it may be called something fancy. The problem for most is of course their impatience, and it is pretty obvious to me that there are few, if any that are capable of successfully trading the low t/fs to make any kind of living from it.....the market will definitely not hand over your wages on a plate that's for sure and is much more likely to take your money instead for their own wages!
  • #262
  • Jun 22, 2019 5:07am Jun 22, 2019 5:07am
Egos, hand-bag tussles, the need to be right.....la di da di da....you name it, it's all present in most threads lol.

There are the occasional amusing comments....one I recall not long ago was where one person described another person (who does happen to be a half-wit btw) as having a bucket over his head...hahaha. Bucket head has a better ring to it than half-wit I must say, and I'll be using bh to describe such types myself in future.

On a broader front, I cannot understand why anyone would almost insist that their method was the be all and end all to making money.

Just ask yourselves a very simple question. Why would anyone who is a genuine trader post a so called method that was that brilliant, and then pursue a marketing program to promote it to try to convince everyone else that it is also. The answer is obvious of course, no one in their right mind would!

So, that being the case, then it follows that all these stupid comments heard all over the place making ridiculous claims are nothing more than some screwed up individuals trying to make an anonymous name for themselves, which is laughable in itself.....or, they have an agenda....the long con, which, as I've said before is certainly in play on at least one of the threads, and it appears that that particular con is moving to the next phase now that the bait has done its trick.

Do not be surprised to find that nutcase and his disciples (yes that really means all the bh's lol) will post again very soon giving people the opportunity one last time to have access to his amazing material lol and will craftily be looking to get email addresses next from all the dumb sheep (even more bh's).

My prognosis with nutcase has been accurate thus far....stay alert and protect youselves is my advice.
  • #263
  • Jun 24, 2019 4:29am Jun 24, 2019 4:29am
Quoting Landline
………….So, that being the case, then it follows that all these stupid comments heard all over the place making ridiculous claims are nothing more than some screwed up individuals trying to make an anonymous name for themselves, which is laughable in itself.....or, they have an agenda....the long con, which, as I've said before is certainly in play on at least one of the threads, and it appears that that particular con is moving to the next phase now that the bait has done its trick. Do not be surprised to find that...
Each time I look in to FF there seems to be off-shoots of a repetitive theme.

Not really a surprise tbh, it's a means of trying to reinforce their long con and predictably, I'd say it's at stage 2 of 4 now, and will need about 2-3 weeks worth of reinforcement ie some sample trades and a couple more ludicrous videos, and of course all the brainwashing rhetoric typically used for this kind of con.

Personally, I couldn't care less what these amateur muppets attempt because it is impossible to deceive me in any way, but they will to some degree inevitably succeed in convincing sheep (the bucket heads..bh's) to reveal their personal details at a later stage...probably stage 3.

It's quite interesting to see from a distance how this live con is playing out in real time.....hand-bags n all lol
  • #264
  • Jul 3, 2019 9:50am Jul 3, 2019 9:50am
Quoting Landline
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...
It's been a while on the EA live trades and it's fair to say that these haven't gone as I expected, and has meant that patience and belief in what I do are of paramount importance.

The market went against me on this pair for the best part of 2 weeks but has recovered enough now for me to hit TP1. I've also taken 50% from TP2 & TP3, and am now in the position where I can adjust the stops. The trades are completely safe and is a fair example of not being fearful of having a number of trades in play (3 in this case), which then opens up all the management possibilities, whilst still keeping trades alive.

I obviously don't know how the 2 existing positions will play out or whether I'll be able to add on at some stage, but there's no rush and very relaxing because there is zero pressure now and really only needs me to manage the trades as I see fit.

I'll update with further progress if anything interesting happens.

Couple of images attached

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  • #265
  • Jul 15, 2019 11:37am Jul 15, 2019 11:37am
Quoting Landline
{quote} It's been a while on the EA live trades and it's fair to say that these haven't gone as I expected, and has meant that patience and belief in what I do are of paramount importance. The market went against me on this pair for the best part of 2 weeks but has recovered enough now for me to hit TP1. I've also taken 50% from TP2 & TP3, and am now in the position where I can adjust the stops. The trades are completely safe and is a fair example of not being fearful of having a number of trades in play (3 in this case), which then opens up all...
EA update

As stated before, TP1 was previously hit and a % was taken from TP2 & TP3. This action meant that I effectively had 2 free trades in play and both with generous stops. That alone was pretty good, but bear in mind that there was no profit to be banked until such time that TP2 was hit, because all I had consciously actually done was create a big window of opportunity.

Now TP2 has been hit and I've taken another 25% off of TP3. This has now therefore become an excellent set of trades with profits booked. Importantly, in doing it this way, I have also kept a trade alive with a fairly healthy stop in place. This set of trades are an example of what I consider to be correct trade management on a live account in real time.

Stop on final position (T1 ) now adjusted.

At the beginning of these trades, some 4 or 5 weeks back, these trades ran against me, which I didn't expect but had nevertheless prepared for and apart from that it's been plain sailing with zero pressure.

Right now, the shape of this market is suggesting to me a strong reversal north, which may stop me out, who knows! Either way, I don't like exiting a trade personally, and prefer to be stopped out, which imo is the way every trade should finish, because no one knows whether a particular trade may grow legs or not, and is part of the reason why trade management is as important as any other part of a trade set up and strategy!

Couple of images attached

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  • #266
  • Jul 18, 2019 4:55am Jul 18, 2019 4:55am
Quoting Landline
{quote} EA update As stated before, TP1 was previously hit and a % was taken from TP2 & TP3. This action meant that I effectively had 2 free trades in play and both with generous stops. That alone was pretty good, but bear in mind that there was no profit to be banked until such time that TP2 was hit, because all I had consciously actually done was create a big window of opportunity. Now TP2 has been hit and I've taken another 25% off of TP3. This has now therefore become an excellent set of trades with profits booked. Importantly, in doing it this...
As said before, I expected a s strong reversal to the upside, so in line with my preference of being stopped out on my final position, as opposed to just exiting with potential regrets of not allowing the position to continue favourably, I applied a trailing stop which has just been activated and taken me out at 1.59705.

A very healthy return and managed accordingly to maximise profit as I 've explained and is quite typical of my approach.

I have other pairs still in play and I'm obviously applying the same entry, stops, tp and management conditions as shown with EA, and I'll be looking to take a new pair on shortly of which I may document that live trades progress in a similar fashion if I can be asked.
  • #267
  • Jul 20, 2019 7:39am Jul 20, 2019 7:39am
A few thoughts......

It seems to me that the vast majority, probably in the region of 19/20 have a priority or mentality of not losing, which transforms quickly into the fear of losing, which means these kind of traders invariably end up as b/e traders at best.

There are plenty of factors involved for all traders of course. Timeframe traded is a big one in my view. The daily t/f chart is the nominal chart of choice for me as a swing trader, but comes at a cost via the need for larger tolerance of market movement.

The advantages though, outweigh that issue, and providing patience is exercised, and that the technical reasons for entering any trade are present, then the more likelihood there is of a successful outcome, which can take weeks, but without any real babysitting required.

Lower t/f trading can be similarly applied, but that then means the trader is usually locked to his terminal and more likely to exit trades at the dreaded b/e when that fear of losing kicks in.

It's quite likely that there are some fair strategies out there that never make it mainly through lack of conviction. The elements of what's considered a sound entry are different for most people, and in general, I would say overly complex, meaning that extra doubts via conflict of information, usually by indicators unfortunately, ends up once again leading traders to exit at b/e yet again.

There are a number of points there to think about. How anyone chooses to implement anything of what I talk about is of course their business.

I suppose the real message here is once you have a proven(ish) strategy, then trust yourself more with it!
  • #268
  • Jul 22, 2019 3:26am Jul 22, 2019 3:26am
NJ

I'm looking to get involved with buying this pair which may take a while yet. I have PO's in place. As usual, I am in no rush, other pairs are working for me, so I've no need to overly concern myself with monitoring this set at present.

I'll post as previously if anything interesting happens, but for now a chart showing where my PO's are etc.

Trades have to start somewhere of course, and once triggered, then managing the trade(s) becomes the priority, and I'll deal with that aspect appropriately, much the same as before....the objective once again is to maximise any gains in a controlled manner.

Attached Image (click to enlarge)
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  • #269
  • Jul 28, 2019 6:32am Jul 28, 2019 6:32am
Only results count when it comes to knowing whether any approach to trading is viable or not to anyone viewing someone elses trades

There's always loads of people trying, for whatever reason, to convince others that their way is best, but it all means absolutely nothing without a series of live trades in real time with a sufficiently high proportion of winning outcomes.

Nothing else matters!

If others see the real outcome against clearly labelled charts with their own eyes, then no other evidence is needed that that individual's approach does actually work.

Of course, you don't get many that are confident enough to put their live labelled trades in real time upfront for all to easily see.

Those that do though can be tracked as their trades unfold, when, over a series trades, it becomes clear just how successful or not their approach actually is.

Obviously, it is only at that point, when the real stats are then available against those documented real trades in real time with clearly labelled entries, stops and tps, that a fellow trader may choose to enquire with regard to the mechanics of the approach. Approaching before historical outcomes are available would naturally make no sense, because nothing would have been proven to a viewer.

Whether the trader chooses to share the full details of an approach is unlikely and would not make any sense to do so, and there in itself is another story!
  • #270
  • Jul 29, 2019 3:29am Jul 29, 2019 3:29am
Quoting Landline
NJ I'm looking to get involved with buying this pair which may take a while yet. I have PO's in place. As usual, I am in no rush, other pairs are working for me, so I've no need to overly concern myself with monitoring this set at present. I'll post as previously if anything interesting happens, but for now a chart showing where my PO's are etc. Trades have to start somewhere of course, and once triggered, then managing the trade(s) becomes the priority, and I'll deal with that aspect appropriately, much the same as before....the objective once...
PO1 buy has now triggered, so game on.

Nothing to do for now other than just let time do it's thing and see how it develops. I'll post a chart when something interesting occurs, but for now I'll just sit back patiently and only manage the trades when I need to.
  • #271
  • Jul 31, 2019 8:38am Jul 31, 2019 8:38am
Quoting Landline
{quote} PO1 buy has now triggered, so game on. Nothing to do for now other than just let time do it's thing and see how it develops. I'll post a chart when something interesting occurs, but for now I'll just sit back patiently and only manage the trades when I need to.
PO2 also triggered. So 2 positions now active. No action required from me at present, the details on the chart remain the same as previously shown, remembering of course that my stops and targets were already allowed for and planned in and it's just a question of letting the trades play out as the market dictates in it's own time.

Others I know get fidgety and feel the need to tinker....not me, I only make adjustments if/when I hit TP1, and for now, that's some way off.

I'll update if anything interesting happens at an opportune time.
  • #272
  • Aug 1, 2019 10:00am Aug 1, 2019 10:00am
Quoting Landline
{quote} PO2 also triggered. So 2 positions now active. No action required from me at present, the details on the chart remain the same as previously shown, remembering of course that my stops and targets were already allowed for and planned in and it's just a question of letting the trades play out as the market dictates in it's own time. Others I know get fidgety and feel the need to tinker....not me, I only make adjustments if/when I hit TP1, and for now, that's some way off. I'll update if anything interesting happens at an opportune time.
PO3 triggered earlier....3 positions now in play. Not much more to say for now.
  • #273
  • Aug 1, 2019 2:24pm Aug 1, 2019 2:24pm
Quoting Landline
{quote} PO3 triggered earlier....3 positions now in play. Not much more to say for now.
An abnormal and unexpected amount of movement today....PO4 triggered.....all trades now in play, and as before, nothing to do for the time being.
  • #274
  • Aug 8, 2019 5:48am Aug 8, 2019 5:48am
Pretty much every method will have some kind of a line in it, whether it be straight or not. and I'm no different in that respect.

From a ta pov, some kind of reference will always be needed. The problem with that of course is that when a large body of traders are relying upon the same or a similar process to make their entries etc, then of course the market is less likely to accommodate their analysis positively, at least not immediately that is!

Simply put, the markets are far too smart to just give away money on the basis of what would appear to be the perfect entry according to a line.

We see many that say this n that, yet I'm quite certain that none of these make real money....sure there's plenty of bull-shitters out there with all manner of lines and god knows what indicators etc.

It would be complete folly imo to entrust anyone other than yourself to develop a means of interpreting what the likely market direction is/will be for the foreseeable future according to the t/f preferred by a trader.

On that basis, a decision to take a trade on should not be collective, it is best to work independently without influence from others imo, or there is the real risk of running with the herd, and that normally means a golden opportunity for the big boys to pull the rug from under your feet!
  • #275
  • Aug 13, 2019 4:16am Aug 13, 2019 4:16am
There's always a load of mumbo jumbo from the experts (lol) concerning trend etc etc.

So far as I'm concerned, there are trends (if you like) in literally every t/f on every instrument. This means it doesn't matter what t/f is chosen to enter a trade, but it is important to initially use at least the next higher t/f as the directional guide, and that's really all there is to it.

Hardly rocket science, even though most others would have you believe it is judging by the rubbish posted, making a very simple task into something ridiculously complicated.

So, what I've said, should always be the initial basis imo when deciding to trade, with the proviso that during any given trade, the original entry t/f and corresponding higher t/fs can be changed to accommodate market movement.

All of this means that the trader remains in control by stop and target adjustments accordingly, along with any add-ons no matter what the market decides to do.
  • #276
  • Nov 5, 2019 5:24am Nov 5, 2019 5:24am
Still nothing new going on at FF, the same ol same ol. Losers pretending to be winners, thousands of so called experts, each one re-inventing the wheel!
Most, if not all, on demo, showing hindsight charts of their supposed success, along with their ridiculous indicator driven reasons for taking trades.
It's all total nonsense of course.
If anyone is able to put say 20 trades up in their own threads with charts showing entries in real time, which will naturally take time to complete, then fair enough. The end results will speak for themselves and those trades and their outcomes can then at least be assessed properly, instead of all the rubbish continually shown.
  • #277
  • Nov 6, 2019 6:40am Nov 6, 2019 6:40am
I have learnt over the years, that indicators, especially in sub-windows, are useless at least so far as my approach is concerned. The information they contain is the same as that on the main chart, just later and usually constrained.

It is my opinion that they are therefore incompatible with what is seen in the main chart. This means that either the indicator window alone, or the main chart window alone should be used to gauge an entry etc, and definitely not both!

The main chart really needs very little on it, maybe a moving average, and in fact that is all I actually need, along with a zig zag. Candles (imo) are not necessary for swing trading the higher t/fs, because it's really just a question of seeing where price has previously been via a simple line chart.... individual candles offer no advantage therefore .

Confusion is dramatically reduced, and superior decision making can then be more easily applied without the clutter of colourful candles and indicators.

Of course, strategy is still a necessity, but that will suddenly become very much clearer once all the obstacles are out of the way.

Most inexperienced and experienced traders alike, think that indicators will help their trading. The novices can be forgiven for thinking it's a piece of cake, ie buy when an oscillator is above, sell when below etc etc, but the so called experts on FF and other sites simply haven't really grasped swing trading, and fall into the same indicator traps as those novices. You would have thought that if it were so simple as green/red/......above/below etc etc then everyone would be winning. Few do though....there must be a clue there! lol
  • #278
  • Nov 11, 2019 5:37am Nov 11, 2019 5:37am
What is the real purpose of people showing a strategy, showing a trade, showing a TE.

Does it make any sense at all. The answer is only a yes if they are trying to get something back as a result, that could be for some kind of psychological issue they have where recognition of their existence is paramount. Could be they want backers. Could be they haven't a clue how to trade and actually want help. Could be they just want to say how great they think they are, an ego thing etc.

The fact is, anyone who actually is a successful trader, has absolutely no need to broadcast it....why should they.

Thousands on these kind of sites will argue the toss about all that....it doesn't matter....I maintain what I've said, ie who is trying to convince who....and why!!
  • #279
  • Nov 13, 2019 4:49am Nov 13, 2019 4:49am
I guess most of what I talk about either dips under the radar or it's head in sand syndrome when truth is uncomfortable.

No matter....I'll be looking to get involved with EU pretty soon in acc to my own strategy. I may post a chart, but it's likely to fall under the radar again so probably won't waste my time doing so.
  • #280
  • Nov 14, 2019 7:16am Nov 14, 2019 7:16am
GA now well placed for an entry
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