Saturday 23 Dec 2017
====================

Took one trade each day Mon, Tues, Wed, Thurs. 3 losses capped by one gain. Did not trade Friday.




I learned a lot this month and looking forward to January M6E comp. Things I want to work on: Trade more WITH the flow of the action, rather than fight it. Working on a few new plays in the playbook that should help me get in more often in the direction the market is projecting. And be more patient. I think I have noticed that my internal clock is not in sync with the market's clock. The market often wants to take an hour or a few hours to develop before making the real move, and my metronome is much faster than that. My time to sit at the screen is limited due to other commitments, so I think I am rushing during the screen time I do have. I will try to use alerts and timers to help me walk away from the screen and slow down, checking back periodically over a period of several hours. I may miss some moves doing this, but better to be out wishing you were in than in wishing you were out.

My cumulative stats for the month:




Huge thanks to everyone who participated whether trading or commenting. A very beneficial experience for me and hopefully for others too.

-FM

FlyingMonkey 

Saturday 23 Dec 2017 ==================== Took one trade each day Mon, Tues, Wed, Thurs. 3 losses capped by one gain. Did not trade Friday. I learned a lot this month and looking forward to January M6E comp. Things I want to work on: Trade more WITH the flow of the action, rather than fight it. Working on a few new plays in the playbook that should help me get in more often in the direction the market is projecting. And be more patient. I think I have noticed that my internal clock is not in sync with the market's clock. The market often wants to take an hour or a few hours to develop before making the real move, and my metronome is much faster than that. My time to sit at the screen is limited due to other commitments, so I think I am rushing during the screen time I do have. I will try to use alerts and timers to help me walk away from the screen and slow down, checking back periodically over a period of several hours. I may miss some moves doing this, but better to be out wishing you were in than in wishing you were out. My cumulative stats for the month: Huge thanks to everyone who participated whether trading or commenting. A very beneficial experience for me and hopefully for others too. -FM

Happy holidays FM

I don’t see a great deal wrong with those trade locations. What made you enter?

Hard to fit trading into a small space of time. I’m sure you will find a solution. Bring on January


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rassi 

Happy holidays FM I don’t see a great deal wrong with those trade locations. What made you enter?

Here are a few annotated charts showing the spots I took losses last week. Understanding that sometimes trades can have nothing wrong with them and just not work, in looking at these I think I could have done a better job holding my trigger until there was more clear evidence that a reversal was developing. Or just entering in the direction the market was progressing, rather than only taking reversals. Of course if these trades had been winners I'd think they were perfect entries

I got a futures account setup and wanted to partake in the next friendly competition. I feel like Euro has been very hard to trade lately, yet it could be setup for good trading. Who knows.

Wondering if we could open up the competition to all available Micro currencies, or just add the addition of the Micro USDJPY. With whats been happening with the 10yr note and gold, I see the UJ wanting move around and offer some trading opportunities. Be nice to have some limited choices.

Rob


EDIT: Just noticed, my broker at TradeStation only offers AUD, GBP, and EUR to USD in the Micro contracts. If I wanted to do yen Id have to do the Mini contract.

Looking forward to January (Q1?) competition. I'm cool with whatever everyone decides to do, but personally will be sticking to EUR/USD... from what I've seen, intraday action on the other Micros is pretty slow.

The Euro has been moving quite a bit lately, lots of opportunities. It has been difficult for me, but these last few days off have afforded the opportunity to step back and review. Lots of mistakes made that are obvious in hindsight. Hope to improve upon this in 2018!

Hello Fellow Traders, hope everyone had a great Christmas and I want to wish all a Happy and profitable New Year.

I'm looking forward to next months competition and would like to see more participants in our fun trading event. As far as I'm concerned I think it would be fine to trade Sims or Live. I myself will be trading "Live", however I think we can have more participants if we offered them the choice, as long as it's ok with others on the forum?

I usually start my trading year around 01/06/18, unless I see a great setup before then... JP

Here's a graph of my December performance. As you can see I was a little distracted on the 13th, 14th,15th as my Kids were returning home from college and my house sounded like a frat party.

I lost my concentration and was out of my mental zone and went into the hole for $13. I regrouped and put myself into my correct mental state and traded the month back into profit. JP

TradeTheLevel 

I got a futures account setup and wanted to partake in the next friendly competition. I feel like Euro has been very hard to trade lately, yet it could be setup for good trading. Who knows. Wondering if we could open up the competition to all available Micro currencies, or just add the addition of the Micro USDJPY. With whats been happening with the 10yr note and gold, I see the UJ wanting move around and offer some trading opportunities. Be nice to have some limited choices. Rob EDIT: Just noticed, my broker at TradeStation only offers AUD, GBP, and EUR to USD in the Micro contracts. If I wanted to do yen Id have to do the Mini contract.

TradeTheLevel, glad to see you'll be joining us in January. As always I look forward to learning from other traders, JP

JMP3 

TradeTheLevel, glad to see you'll be joining us in January. As always I look forward to learning from other traders, JP

I really appreciate it. I plan on doing a different approach with the micros then my spot account. Ought to be interesting.

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FlyingMonkey 

Here are a few annotated charts showing the spots I took losses last week. Understanding that sometimes trades can have nothing wrong with them and just not work, in looking at these I think I could have done a better job holding my trigger until there was more clear evidence that a reversal was developing. Or just entering in the direction the market was progressing, rather than only taking reversals. Of course if these trades had been winners I'd think they were perfect entries

Flying Monkey, I did an analysis of the first chart showing my view and how I basically trade. I'm big on Supply and Demand levels, fib levels, pitchforks and matching parallel lines. This is how I've been trading for many many years. Hopefully this can help others in analyzing chart structure, JP.