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hellsbells May 13, 2019 9:20pm | Post# 61

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I had a successful morning but it was more of what NOT to do. I played with my charts trying different colour schemes but came back to black background with coloured candles. I did remove SMAs. I tried 1min charts but I've spent my trading experience with 5min candles so stuck with them. The what not to do part of my trading was messing with colour schemes during open trades. Fortunately no adverse events. Anyway I'll post my charts. It did feel good, and I didn't get greedy (except up sizing trade size hhmm). Finished for the day.
I traded EU and UJ this am, without the SMAs I think I was clearer headed noting SR. I love using my TL too.

I came within a few dollars of the $1k starting point of my account. The one smart thing I did do today was NOT actively pursue it at the expense of screwing up. I was very happy to finish at $992. Sometimes those last few points/dollars that you really really want are the ones that will sink you FAST!!!

I'd just like to thank Lemercenaire , Oldtraderman, and any other trader who has offered positive / constructive feedback. I am being shaped by influences and experiences, I have a good sense of what I see and sample that feels right, so I feel I am evolving. One other thing, I think I trade better with fewer trades, just scalping max 2 trades at a time, and not getting too ahead of myself. Ideally I would LOVE to get some trades to last longer, but I think concentrating on scalping smaller TF is my priority for now. I feel comfortable as a scalper.
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hellsbells May 14, 2019 8:25pm | Post# 62

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Got the break down, but with the 5min doji with HL I got chicken and tightened my SL right up, then closed 2 trades too early. Not jumping on now, never know when a bounce will/might come
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lemercenaire May 15, 2019 2:56am | Post# 63

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Got the break down, but with the 5min doji with HL I got chicken and tightened my SL right up, then closed 2 trades too early. Not jumping on now, never know when a bounce will/might come {image}
Here's something you may like to consider.

When you get a momentum grind like that (the sustained, solid drop), look for a move back to the level where that momentum broke the last extreme.

Price will come back and play around that level, testing it, before eventually succeeding in closing over it and moving back up (as it did here), or failing and continuing on the drop down.

Not also how even after all the moves that followed, how price came all the way back down and played off the level again.

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hellsbells May 15, 2019 5:17am | Post# 64

{quote} Here's something you may like to consider. When you get a momentum grind like that (the sustained, solid drop), look for a move back to the level where that momentum broke the last extreme. Price will come back and play around that level, testing it, before eventually succeeding in closing over it and moving back up (as it did here), or failing and continuing on the drop down. Not also how even after all the moves that followed, how price came all the way back down and played off the level again. {image} {image}

Thanks so much . Yes . Great charts too cheers

I did try 2 EJ longs same thinking (as I was watching EU too and E seemed to be getting some buying interest) but I was in between night shifts today and over tired and really shouldn't have traded at all. When EJ was pondering the up trend I looked at it and told myself " you're tired you need to sleep, this is too risky" and closed the trades. I wanted to set a long and at least have it BE before bed. I think I would've ultimately been stopped out as I would have wanted a tight SL.

cakrajaya May 15, 2019 2:26pm | Post# 65

subscribe, join following to learn

hellsbells May 15, 2019 9:07pm | Post# 66

Getting heaps of freeze outs on pepperstone atm, 4 in the last 15min

hellsbells May 15, 2019 10:38pm | Post# 67

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Off my 2nd night shift and very tired, I went from work to cleaning my house (I Airbnb it) to home and wanted to trade, but I really have no business trading today as I'm so tired. This journal certainly documents failures of a trader breaking rules.
For some reason I became fixated on EJ going up. I also failed to monitor news (AUS employment today) so I deserved to get a walloping. Scraped home with a profit after 2 hours, but another day I really shouldn't be too proud of.
I had 3 longs and closed them all between 122.674 and 122.710. Obviously I had other losing trades that can be perused on my TE, I like the fact you can hit graph for each individual trade to see screw ups in fine detail. I shorted AU but swamped trades.. and other errors....

and oh, look at pic 3... after I closed my trades EJ shot straight up. Tomorrow is another day.
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lemercenaire May 16, 2019 4:24am | Post# 68

Getting heaps of freeze outs on pepperstone atm, 4 in the last 15min
Not just you. I had the same issue, though luckily it's only a charting platform and I wasn't in on anything live.

hellsbells May 16, 2019 7:46pm | Post# 69

A bit of randomness... I love ALIENS the movie. A few times when I've placed some really bad trades I've thought of this scene with regards to my trades...

"you sent them out there with no warning....... These people (trades) are dead Bourke" . Anyway.. funny things that keep me entertained...

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hellsbells May 16, 2019 8:39pm | Post# 70

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I went long EJ with break back above S38 and increased vol breaking up through TL with fat bull candle. All was good until it hit resistance and rejected just before the hour. I hate hour changeover and think I will not trade before 1010am local. Anyway I closed those longs as it looked like rejection was solid. However it found support not far below, the bear candle landed at 122.7 and I felt it would reverse as the next candle had no LL. Re entered longs, have TP 3/3 trades though as looking at EU there looked like some weakness. I may have TP too early. I'm thinking I can hopefully re enter if required. Closed longs at xs .
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hellsbells May 16, 2019 9:20pm | Post# 71

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EJ rocketed up after I closed my longs. In a nod to that, I am going to leave these EU trades alone. Every so often E can do spectacular things during the Asian session like grind up all day. I had 3 trades I TP $4 on 1, risking $8 on these 2 so net risk $4. Going to look for other opportunities. Watching EU during Asian session can also be akin to watching paint dry
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hellsbells May 16, 2019 9:21pm | Post# 72

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watching AJ, the yens might all be about to fall again..
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hellsbells May 16, 2019 9:52pm | Post# 73

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TP 1/2 AJ trades per pic , risking $4 on remainder, and $8risk on 2 EU longs, ensures I finish day in profit regardless
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hellsbells May 17, 2019 12:30am | Post# 74

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Got stopped out on AJ that's ok .

Have TP 2/3 EU at 1.11781. We're not talking big $ but this account at the moment is about trying to establish some better habits, and EU has the friday slump so I have lifted SL to BE and finishing for the week . A good positive return for the week (14%) despite challenges of being back at work full time. I'm happy overall, I would like to start getting some trailing or tighter SL involved so I don't lose hard earned pips completely. Every trade is a judgement trade for me, based on my interpretation of the most recent data. Eliminating SMAs has helped, simplified my charts and focused my attention more to the candles. An improvement to my trading.
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hellsbells May 19, 2019 3:15am | Post# 75

Tough morning for you - bit of a grind, to say the least. If you don't mind me asking, what are you actually basing your trade decisions on? I know you talk of PA and all well and good but the one constant I notice through your posts is the talk of ''thought it would...'' ''maybe...'' ''took a chance...'' ''changed my tune...'' etc. Best summed up in this: ''...bought at resistance, that's me. Anyway if it won't go south, maybe it will go North. As we all know it will do whatever it wants anyway.'' If you are using pure PA and you do seem to have...
"Look for something that will give you a directional bias for the day"

You know I dont think I ever really do that. When I sit down in the morning and look at the charts esp UJ Asian session, I almost feel like I look at it like a crazed animal released from a cage, that it will spend the first 2 hours testing barriers north and south, before deciding which direction to head. In my mind I consider daily changeover (pre Asian session) as a reset to zero. I'm guessing this is a flaw in my trading as I'm ignoring the greater top down weekly/daily trend, or is it a positive? Is it better to NOT have a preconceived idea at the start of the Asian session?? (All things being somehow equal and no imminent news..). I'm not sure. I also think of it like a pinball machine, loading up backwards with a firing pin ready to shoot off to chaos in the other direction..
When I review daily charts I historically screw up the direction completely ie if theres been a full daily bear candle and I think oh wow its bearish I'll look to enter short around 50%retracement of bear daily candle (for eg, depending on SR etc).. inevitably I get it wrong and that daily is bullish engulfing. As a scalper of the Asian session.. hmm not sure. I'm not sure if multiple timeframes is a help or a hindrance.. all part of learning

Aussi May 19, 2019 4:02am | Post# 76

{quote} "Look for something that will give you a directional bias for the day" You know I dont think I ever really do that. When I sit down in the morning and look at the charts esp UJ Asian session, I almost feel like I look at it like a crazed animal released from a cage, that it will spend the first 2 hours testing barriers north and south, before deciding which direction to head. In my mind I consider daily changeover (pre Asian session) as a reset to zero. I'm guessing this is a flaw in my trading as I'm ignoring the greater top down weekly/daily...

thats what i also do ASIAN session is important for a few pairs like zar , try

hellsbells May 19, 2019 9:07pm | Post# 77

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A jittery start, with some overtrading. I had closed 7 trades within 15min or something mixed bag but I've come out on top. not neat. Have TP for last trade at 110.440 (belowR61)
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Aussi May 19, 2019 9:14pm | Post# 78

A jittery start, with some overtrading. I had closed 7 trades within 15min or something mixed bag but I've come out on top. not neat. Have TP for last trade at 110.440 (belowR61) {image} {image}
better fish to take today's gaps are a feeding frenzy

hellsbells May 19, 2019 9:29pm | Post# 79

Closed UJ long manually at 110.23ish. Made the mistake of shorting AU, shouldn't trade 2 pairs at once, lost concentration , got stopped out on AU trades and closed my good UJ prematurely.

hellsbells May 19, 2019 9:32pm | Post# 80

{quote} better fish to take today's gaps are a feeding frenzy

Which fish do you recommend ?

I always regret trading AUDUSD. It does weird things I swear


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