My Journal - Pathways to Improvement

[keen246]

The market is moved by market movers and they have positions to defend, a bear market mover has to deal with a bull market movers.

As a retailer se have not any other choices than interpret this tug of war trough technical analysis, here we can jump on the wagon once one of the part lets go of the rope joining the stronger side to cover.

Those are the high probability trades a retail trader must take, the market is moving for a while, enough time to make a profit.

Trading is an art form, you need to learn the basic of TA and then bring yourself forward, not all interpretation of patterns will make sense to you, and if they do not you cannot make money on them.

A bull fail final flag, what does it mean? Means bulls have the upper hand (pole), then they settle (flag), then bulls break, but there is not continuation, (a bull market movers need other bull market movers for continuation), here bears smell the pain (bear trend bar), here a smart retail trader will take a chance, price will at least get to the base of the pole.

What about the market conditions? are you taken the trade in the direction of the least resistance?

Keen, do me a favour, go to GU on the 1m, take notice where the market turned for over 150 pips today....... it was a failed break out of rising wedge (reversal pattern) with two pin bars as the pivot point....

Now you said to me but market condition were in favour to bulls, yes it seemed but it was not.....if you turn on the 30m time you clearly see the direction of least resistance was on the bear side..

And the on the 30m was a double top bear flag.

Need to rush, busy day today.

Fugs

Thanks Fugs for your thoughtful tips.

Have a nice afternoon.
Cheers,
Keen246

 

[Fugazsy]

made more 7 pips with GU this time.
I am done for the day. Massive trade to recover loss. Someone can wish to break my head. But tomorrow will try to do better. This is the reason why I am doing it on demo. I think my journal will run for long time. Cause simply my improvement will take long time.

View attachment 222586

But today with one trade made 24 pips on GA. Risk 7 pips.

Have a nice day...

 

[sun11]

Morning all,

Today GU is being a bad pair right now.
It was falling nicely during Asian session. Now too much of fluctuation.
I don't know it will reach 1.4100 or not.
I tried buying after TDL break it failed. Tried selling failed. Re sell position is testing.

 

[NickBk]

Morning all,

Today GU is being a bad pair right now.
It was falling nicely during Asian session. Now too much of fluctuation.
I don't know it will reach 1.4100 or not.
I tried buying after TDL break it failed. Tried selling failed. Re sell position is testing.

too late now I know but I had support at 1.4120 and was patiently waiting -)

 

[sun11]

too late now I know but I had support at 1.4120 and was patiently waiting -)

Morning Nick,
that sell sl got hit.
But I don't like price action. It is in a range.

 

[sun11]

I tried reselling again from 4127. This is my last try.

 

[NickBk]

I tried reselling again from 4127. This is my last try.

better and now aiming at 05

 

[sun11]

I tried reselling again from 4127. This is my last try.

Trailed targeting 4103.

 

[sun11]

Trailed targeting 4103.

Yes deal is done.
Out now...will be back in few hours later.

Happy trading!

 

[sun11]

GU moved a lot from the place where I leaved.
Currently in a sell trade. What coincidence I entered from that position like before.
4127

 

[sun11]

GU moved a lot from the place where I leaved.
Currently in a sell trade. What coincidence I entered from that position like before.
4127

Nope this time it didn't worked, out -5. Bought 4133.

 

[sun11]

Nope this time it didn't worked, out -5. Bought 4133.

Got 8 pips.

 

[sun11]

Noticed UCAD, nicely moved.
Bought 2840.

 

[sun11]

Noticed UCAD, nicely moved.
Bought 2840.

trail Sl hit.

 

[sun11]

slow connection lost 5 pips with UCad.
I thought I will make century. But no more in this session. slow time.

 

[sun11]

 

[sun11]

Today I made a new tool which keep the chart clean but also track all LRs.


In this picture signal is Faster LR not cleared & Mid LR bearish & Longer LR not clear.
Mid LR is bearish means, I am looking for to sell only. Closed that trade with 5 pips profit UCAD.

 

[sun11]

Just earned UCAD 6 pips from last top with news.

 

[sun11]

Its time to show this week results.

Don't go with the pip shown in here, I had to minus commissions & cost etc.

So Net is 140 pips. If I minus the multi lots then its around 100 pips.

Next week target: Decrease number of trades. Trade in limit. Keep 100 pips.
Try to avoid early exit. Keep a little faith on trade, under proper candle measurement.

By the way this is the 1st time since Aug' 15, I ended a week positive with 80+ pips. Solar new year is working...
This week I used some daily pivots to do my S/R level jobs & that helped.

I am out today...
Happy Weekend...

 

[sun11]

Today made 42 pips. But with multi lots & draw down of 9%.
I think if I had a big account & I trade with micro lot, then I can make profits every single day....its easy with GJ, GA types of pairs.
I may not be confident with any other things, but I have 100% confidence with this. I am constantly making profits for 6-7 days like this.

It will be suicidal with major pairs.

But anyway, that's not the point. Our job is reduce loss as much as possible & maintaining discipline. Today draw down is lower compared to other days.

Lets see tomorrow.