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Spoof's Trend, Level, Signal Trading Journal 109 replies

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Spoof's Trading Made Simple(r) Journal

Quoting TheSpoof
{quote} Good job Was your AUDJPY trade form the very beginning of the week?
Yes, the AUDJPY trade was the good start of last week.
I am watching your new videos now, getting ready for a new week.
THANKS!!!
  • Post #642
  • Quote
  • Edited at 6:02pm Aug 18, 2019 2:45pm | Edited at 6:02pm
CHANGES COMING

Here is a video talking about beginning to change up how I am trading this system. I need to figure out how to avoid trading in ranging conditions there are just too many losses that happen and it is particularly bad when I can't reduce the risk to less than 1R losses due to whipsaw price action. As per usual, ranging conditions kick most traders in the ass and steal profits from winning times - it's as old as trading itself. I am going to use the filters that I used to use when I was trading price action and only in the direction of an established trend. These indicators give a reasonably objective way to indicate whether a trend is or is not in play. I want to be trading in very specific conditions which will hopefully put some added confluence behind the trades. Essentially I will only be looking to trade continuation trades (as per RH's earlier recommendations) and I will be adding a filter to determine when the trending conditions are present and more importantly when they are not.

I will live forward test this over the next several weeks and I will share my new filters with the group when I sort out the precise trade conditions I am looking for and that tend to work out well. Trading is an ongoing process of learning and observing what is happening and making adjustments when required. Over the last two weeks there has been a lot of sideways action which has cost me too much money so I am simply looking for ways to objectively keep me out of these times and give an early warning that poor trading conditions may be setting up. I believe it is far better to not lose money than to miss a trade. When the conditions are good the trades come easy...those are the trades I am after. I lost sight of trading with the trend and it has cost me so it's time for a correction. A bit of a work in progress here.

Inserted Video
Emotion - it steals your money.
Swift Trade All Time Return: 7.8%
Quoting TheSpoof
CHANGES COMING Here is a video talking about beginning to change up how I am trading this system. I need to figure out how to avoid trading in ranging conditions there are just too many losses that happen and it is particularly bad when I can't reduce the risk to less than 1R losses due to whipsaw price action. As per usual, ranging conditions kick most traders in the ass and steal profits from winning times - it's as old as trading itself. I am going to use the filters that I used to use when I was trading price action and only in the direction...
The way to go Mate.......... since we swing trade here....... I see a lot of us joining the trend at the turnning point of the trend....... kindly put this into consideration too.


Cheers,
Yomi.
Trend followers need TRENDS.
Quoting fxrabbi
{quote} The way to go Mate.......... since we swing trade here....... I see a lot of us joining the trend at the turnning point of the trend....... kindly put this into consideration too. Cheers, Yomi.
Absolutely. So many losses as trends come to an end. I am hoping to avoid that as well by watching for early signs of trend breakdown and not riding trends beyond two weeks. For example, NZDUSD has been in a down trend for three weeks now...I am not going to trade this since I anticipate some choppy price action to come. More often than not trends on the four hour chart do not last much longer than two weeks before a period of consolidation or an out right reversal - precisely when the losses really start to accumulate.
Emotion - it steals your money.
Swift Trade All Time Return: 7.8%
  • Post #645
  • Quote
  • Edited at 7:46pm Aug 18, 2019 7:33pm | Edited at 7:46pm
Quoting TheSpoof
{quote} Absolutely. So many losses as trends come to an end. I am hoping to avoid that as well by watching for early signs of trend breakdown and not riding trends beyond two weeks. For example, NZDUSD has been in a down trend for three weeks now...I am not going to trade this since I anticipate some choppy price action to come. More often than not trends on the four hour chart do not last much longer than two weeks before a period of consolidation or an out right reversal - precisely when the losses really start to accumulate.
I did a check on your other trading journal and saw the way which you made used of the moving averages..... let moving averages be your gurus........ All of my Gurus are Moving Averages. I believe/know with 2 or 3 good/appropriate moving averages........you can get your trend of the moment and also locates the beginning of the trend/swing.
Trend followers need TRENDS.
Quoting fxrabbi
{quote} I did a check at your other Trading journal and saw the way which you made used of the moving averages..... let moving averages be your gurus........ All of my Gurus are Moving Averages. I believe with 2 or 3 good moving averages........you can get your trend of the moment and also locates the beginning of the trend/swing.
30 ema shift 2 on 4hr chart is 5ema shift 2 on the daily. Jus sayin
Trade what "Is", not what "If".
Quoting 4xu2
{quote} 30 ema shift 2 on 4hr chart is 5ema shift 2 on the daily. Jus sayin
Which is also equal to 1 ema shift 2 on weekly.
Trade what "Is", not what "If".
Basically
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Emotion - it steals your money.
Swift Trade All Time Return: 7.8%
Quoting TheSpoof
Basically {image}
Lol simples #100% truestory.
The more you learn, the more you see
Trying to mastering this these days

Attached Image
Quoting handysniper
Trying to mastering this these days {image}
LOL no doubt about that.
Emotion - it steals your money.
Swift Trade All Time Return: 7.8%
  • Post #652
  • Quote
  • Edited at 9:55am Aug 19, 2019 9:33am | Edited at 9:55am
So last week's trades: EURUSD trade stopped out for +2R via trailing stop and my GBPUSD trade I closed out for a few bucks just above break even. That puts me at -1R this month so far. Not terrible considering so much sideways price action this month, but in the red nonetheless. Hopefully I can turn that around in the next couple weeks. Right now the only pair I am looking at for signals is EURUSD since it is the only one trending at the moment based on my trend indicators. I am looking for short signals when and if any pullbacks present themselves.

NZDUSD is in a nice down trend but it has been going on for several weeks so I will just avoid it as I would anticipate some consolidation soon (or not) but I'm fine to sit that one out for now. Most pairs are going completely sideways...just take a look at GBPAUD. There is an ascending triangle pattern forming so some sort of breakout move is coming, but I wouldn't trade this pattern just because of the pattern (http://thepatternsite.com/at.html). My trend indicators are showing GBPAUD as absolutely flat and sideways and not trade-able. There are a few pairs starting to show early signs of a trend setting up (USDJPY, GBPJPY, AUDJPY, SP500) so I will watch them for trending conditions over the next week or so before watching for trade signals once a trend is confirmed (as best as it can be, anyway!). Lots of trendiness going on the daily charts so I will have a peek at those at the NY close for set ups.

Good luck this week, everyone
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Emotion - it steals your money.
Swift Trade All Time Return: 7.8%
Really good advice.
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Emotion - it steals your money.
Swift Trade All Time Return: 7.8%
Here we go, I am in this trade now.
EJ was rejected several times at a support line, confirmed by the HA green candle and the TMMS oscillator, hopefully the market proves me right
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I am also in another trade with the CJ, very similar set up as the EJ.
Currently in DD, I guess I entered the trade too early.
I will post my results & chart once I close it, hopefully comes back to positive.

Have great trading week everyone
Quoting Camaney
Here we go, I am in this trade now. EJ was rejected several times at a support line, confirmed by the HA green candle and the TMMS oscillator, hopefully the market proves me right {image}
This is where things are going to start to get interesting. For me, this is a trade against the current strong down trend and you may have just bought at the top of a retracement based on current price action. Time will tell of course, but going forward this is a trade I would not have taken. All the buy signals over the last 4 weeks or so on this pair would have likely been losses or invalid.
Emotion - it steals your money.
Swift Trade All Time Return: 7.8%
Quoting Camaney
Here we go, I am in this trade now. EJ was rejected several times at a support line, confirmed by the HA green candle and the TMMS oscillator, hopefully the market proves me right {image}
I also looked at this trade, but the descending triangle changed my thoughts to place a buy trade.
EU continuation short

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Detach yourself from the value of money - Mr. Pip
Quoting Supreme1394
EU continuation short {image}
Me too.....
Trend followers need TRENDS.
Quoting Supreme1394
EU continuation short {image}
Looking good but my chart not confirming yet for another 150mins.
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