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EURJPY long.Play #1 .Basically, price breaks prior swing hi, closes above 60/200 ema.I enter on the pb to sup/21 ema,wherever it looks best.The mistake here, is we had a nice sell hammer that should be a reverse , and i know this.Then, i had the sl at 20 ticks,not below lod..i know this too.-20..The reverse short puts me with the trend, as emas are fully alligned.
GBPUSD short.Sarted to diverge off the highs,shorted for +20.
EURUSD a bit early here,had to wait for the GBPUSD to lose steam...+20...
Thinking about 2018,as we near the close of the year.All in all, im very disappointed .We did a renovation from hell, and it really took its toll on my stress/attitude.Through this, i tried to stay consistent.I clock in at 5 am eastern, and trade to 10-11 am.However, my focus has been bad.The reason i came to forex, was to loosen up .Because we can trade such small increments,it can really help with just focussing on the price action, not the $.I photocopy my charts every day,and before bed review.I was doing videos, and they are really helpful.However, this routine faded away the stress of whats going on.Its time to get back in, and be committed again.
So what needs to happen?What should i change?
first, i need to work on my general thought process in general.Trading is a constant drag,and it creeps into all aspects of life.I dont like this.More quiet time/meditation for sure.Exercise as well.
Second, trading is something we all need to "make happen".Its not going to happen any other way.In my case, i need to push harder ,just to consistently execute my plan,and not miss trades,and not pass on acceptable trades.
Third, i need to get back to my routine of review/study every day and every weekend.I review the days action after hours.On the weeken , i review the whole weeks action.The videos are great for this.The photo copies i make each day(just the 3 charts i follow) are very important.They tell me ,that if im patient,and wait for my trade plays, and have correct stop losses ,that in the end, we get thru the noise, and its just another day..
I want to thank Big Mike as well.So much work goes into this forum, and its the best.Also, as an aspiring trader, I appreciate the traders that are successful posting here.I may not understand your method, but just seeing you succeed is very inspiring.Also, im very thankful for the daily posters that are in the trenches every day, trying to get a handle on this.Happy new year everyone.
Short on pb EURJPY.The entry was good,the mgmt was very bad.I shook myself out on this one.After that, i drew my measured move,we will see if it can get there.I tried a long(fade, basically a DDB at LOD) which promptly ran me over.Looking at the short, i originally had it targeted for a NLOD.The formation for the measured move was good...I want to be aware of this for targets.
Jan 7
3 trades today.Yesterday i pondering, as i often do about trading.I believe the trades are there, typically each day.I just think that for many years i have viewed the markets mainly seeing the leaves, and not the forest.Everyone has their timeframes ,so the forest will be different, just like the definition of a trend will be different.So, i was thinking about the plays i have, and the tendencies of how they perform,in the context of the day.The way I see it, more so than not , we will not be in breakout days.That doesnt mean we cant break the previous HOD or LOD.I devised a roadmap ,with my plays in mind
.When I came in a t 5 am, things were setting up (what i thought ) were shorts.GBPUSD allready tagged the 200 ema, and typically,this will not produce a NHOD/NLOD....So when price closed below the 200, i was on board for a short on a pb to the 21 .There were 2 problems with this trade.1st, my sl to nhod was 30 ticks...way too much...2nd, the 1st hit of the 200 ema produced a nhod.This isnt common, and we went into trend mode.I was aware of the nhod produced by the 1st hit off the 200 ema.I was thinking to myself, that this should probably be a long to test new highs.So why did I hold? I learn better whwn i get punched in the face i guess.But....will i learn?
EURUSD long was just incorrect.As per my plan, the 1st pb to 60 after nhod is long territory...I need to post my rules..all over the house...and in the yard too apparently.
EURJPY had the same trade...A long at 60 ema (at sup/yhod no less!!!) after nhod....wtf!!
These 3 charts will be in my pocket everywhere i go...-51 ticks today