Mrblonde's journal

This is a discussion on Mrblonde's journal within the Trading Journals forums, part of the Reception category; Evening. i've joined the forum as it seems there's a lot more activity here than the last place i used. ...

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Old Dec 11, 2011, 8:55pm   #1
Joined Dec 2011
Mrblonde's journal

Evening.
i've joined the forum as it seems there's a lot more activity here than the last place i used.
i have been trading for over a year, and have 2 methods. The main one is off the daily t/f, basically price action at s/r. There will be nothing new here, no promises off doubling accts in a month, etc, and the posts will be rather intermittent, due to the fact its the daily chart.
All entries are pending, i check about 9 to 9.30pm for setups.
The other method, when i get the time and chance, is off the 1hr chart.I've attached screenshots for both t/f, showing how i set my charts up.
I'm sure there are much better traders here than me, much more experienced, so any comments are welcome.Just looking to improve my trading.
i trade fx and commods.

Cheers
Attached Thumbnails
gold-daily.gif   gold1hr.gif  
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Old Dec 11, 2011, 10:16pm   #2
Joined Dec 2011
Re: Mrblonde's journal

mrblonde started this thread Trying to get some semblance of order to my thoughts, to highlight the main problems i'm having.
On the daily chart: a hypothetical trade, but it illustrates the problem:
a nice hammer forms, the candles over 100 pips. I use a 10 pip buffer, so entry order placed 10 pips above the high, s/l 10 pips below the low.
The hammer looks good, rejecting support, with trend, order placed.
Upon checking the chart next morning, the trade has kicked in, and is up 50 pips.
So, take some profit off, move stop to b/e.
Marvellous, pat on the back, trade well planned and executed. But??
the ugly thought that will not go away, is if that was such a good trade, how comes i'm buying over a hundred pips higher, than where the smart money bought?

2nd conundrum- stop to b/e.
conventional wisdom right? can't turn into a loser, protect capital, etc ad infinitum.
The problem is, i can't tell you how many trades i've had come back, stop me out, and then sadistically take off in the anticipated direction, for hundreds of pips.
Still, i made 50 pips on half my stake, if i closed out half. Hmm, still patting myself on the back??
I guess these are the problems only the trader himself can answer, the exits and pyschological tolerances will of course be unique.
I think for the purposes of this thread, i'm gonna take a walk on the wildside, and stops will NOT be moved to b/e at the first sign of profit.It will be interesting how this compares.
Any trades will be posted for critique.

cheers
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Thanks! The following members like this post: G.O.A.T
Old Dec 11, 2011, 10:52pm   #3
Joined Aug 2011
Re: Mrblonde's journal

Blondie......do what YOU do and see how it goes.....
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Old Dec 11, 2011, 10:55pm   #4
Joined Dec 2011
Re: Mrblonde's journal

mrblonde started this thread
Quote:
Originally Posted by G.O.A.T View Post
Blondie......do what YOU do and see how it goes.....
You're right Mr Goat, the answers will surely not come from this forum.
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Old Dec 11, 2011, 11:01pm   #5
Joined Aug 2011
Re: Mrblonde's journal

nope look within...
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Old Dec 12, 2011, 12:38am   #6
Joined Nov 2011
Re: Mrblonde's journal

one way, or another...
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Old Dec 12, 2011, 12:55am   #7
Joined Aug 2011
Re: Mrblonde's journal

i'm gonna find ya
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