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oct 9
took only 1 trade today so far...earlier there were some good ones..shorts at the beginning of the downtrend for today.
1) Normally with a 30 min buy bar, i would wait to get into sd-1. Here, we touched it and got the sell candle.I entered, and was prepared to add if we got to the 60 ema with a sell candle.The adr wasnt reached yet, and i figured we had room.This worked fine.At 8am we made a temporary bottom, and there was a DDB on the 5min that was good.There was no buy signal on the 1min for me, and i was dropping my kids at school anyway.With this 5min DDB, i will stand aside for now on the shorts on 21 and 60 ema
Oct 15.
Ive been sporadic with my journal.I have been working very hard ,reviewing my trades, studying my end of day videos,etc.I can only say thati still have work to do, and thats what i plan to do.Work.I becoming more aggressive, but at the same time, still making mistakes that prevent me from overall consistency.Thankfully, forex allows me to trade live with low risk, so im not stressing over money.Thats it for now..Back to the video recaps!
Hey Bob, something that has helped me tremendously with consistency’s and avoiding mistakes/shotgun trading is a complete mechanical approach to trading. What I mean by that is having specific critieria to enter in a trade. Once in a trade have specific criteria to manage the trade. Every now and then I let emotions influence trading, but 90% of the time, strictly mechanics. Just wanted to give some feedback because I can relate 100%. I also used Forex to offset the cost of learning to trade.
oct 22
Did my usual review this weekend, using videos and still shots i make each day.I will try to post trades as i make them, ive been lazy with my journal for a while.Now the key is to just keep my charts the same, and just focus on the few trades i have.Over and over, as i listen to the SMB videos, they speak about the process, and developing a playbook.Its so easy to get sidetracked.When i mention process, i am referring to sticking to the discipline of trading the setups in our playbook.This eventually leads to break even over time if there is edge to my trades.The next step is small steady profitable trades.Currently, i am breakeven, back and forth ,but overall staying afloat at breakeven.I have noticed this for a while.The problem, is i have changed ideas and charts so many times in the last 3 months, that i cant say what is honestly working.I desperately want to just finalize my trades in my playbook, and just execute them.For this to happen, i need to have written down parameters, that describe the scenario that is acceptable to take a trade.This should include a picture for each play, with the simple requirements.I am working towards this.This is the organizational part that i waited too long to implement.Thats it for now
oct 31 halloween
pretty bad day, getting ticked all over the place.Once again, i am re starting with just the 5min.My quest for the best entry has failed time and time again.This refers to the quick charts.I think i would honestly rather be a scalper,atleast for execution.I have been back and forth with this so many times,its insane.It never works.I know well enough, if i glance at a 1min, or a quick renko chart, ill see plenty of low risk entries.But its death by a thousand cuts.I appreciate Ogres entry method, very simple.Also Minip.Also, i have come to understand that i mismange trades badly.If i just leave my stoploss at 10 ticks, so many times i would have survived the noise, and had a good trade.Getting ticked at swing hi/low after tightening my stop is maddening.Perhaps in time, i will have a better grasp on this.Also, when i was using the 5min solely, i was not having consecutive losing days.Ok, so with all this said, how long till im using the 1min again....Friday?Its that bad...like an addiction, always with the same results for me...Oh, the last trade i took on the GPBUSD was a breakto the 200ema.I bought it and left.Its the only trade that worked today.2/3 of the other trades i took were both stopped, and i had moved my stop on both....if i had left my original sl, i would have had a great day.
between TraderEX 1s holding, lancelottrader 2range chart and TradingOgre 5m chart, somewhere is your happy medium chart, be it in ticks, seconds, be it in range, volume , renko. You know you found it when you see other people charts and you still go back to your very own.
nov 2
back to basics,,,hopefully for good.here is a short,breakdown entry.I tried to short on the pb to the trendlind/21 ema, no fill .too bad for that
nov 2
so the breakdown short was it for today.There was probably 5 entries there on that, depending on how aggressive you want to be.The signs were there.As is the case with the currencies, they can follow each other, like a sympathy play.Today that was the case.Back to basics with a simple 5min chart, thankfully.Someone please slap me(hard) if i bring back other charts.I am posting a video, and this goes over some of the ideas from today.One thing that i want to mention as well, is when the chart isnt making sense to me, stand aside.If i can just keep this simple chart the way it is with no changes, i think i will develop a feel for this , as well as when to get aggressive.I mentioned Ogre a few times in the video.I like the way he uses the emas, and it makes sense to me..happy Friday