MY Journal-phil13

G/U demo trade...... scout says NO...... so abandoned/aborted mission.

A/U demo trade..... an attempted continuation trade of the previous posts.

trends, hips/lops and more... note the 'read' is of bars (not candles and their meaning) and the move (rhythm).

http://www.fxwizards.com/knowledge-b...ch-papers.html

G/U demo trade.....

did not do any demo trades last week as we had our grandchildren staying over and so my concentration and time was diverted towards them during my spare/down time.

Hello Phil,

Cheers to you and for your grace to diligently share your trader's thought process.

Best regards,
Exnav

Hi Exnav

welcome my friend .

no problem and thank you for your comments.

regards

Phil.

G/U......

it is a bit late in the day for me and so time is against me so may not be able to catch this one... but let us see anyway as this is possibly a good set up here..

going into the quieter time now (near 5pm/1700 my time-about 30mins after London close) and i am not a fan of starting trades in this time of the day, will continue to watch every now and again up to when i go to bed but so far no bull momentum sighted and price has retrace about 50% so far.

here is some other stuff i see in the G/U H1 CHART below....

still waiting for more clues here....

G/U demo trade..... for above posts.

G/U demo trade continued..... no trade is also a trade.

G/U.... . wrong area for longs here so will play the waiting game for now..

G/U demo trade...... do not marry your ideas/analysis, test and listen, then do what is 'best outcome' for your account (and often that may well be not what you want to do --bias within you-- but following the current action lowers risk to our account). as fti says thinking is over-rated and scouts are expendable...

G/U update...

G/U demo trade continued..... second scouting attempt.

here are the stats (as we are at trade 30) and now there is enough trade data for some self analysis...

G/U demo trade...... continuation?? or not!!

G/U demo trade..... consolidation/range trade. can only take what is there/given as we see it in the now.

Was wondering what to cover next? I will do some trades now using the tick data (mt4’s fake volume), one very import thing to understand is this NOT volume it is tick data move count, so it is recording activity of each bar, there is NO true central volume data available in FX, if thought of how it is really (bar tick activity) it is easier to relate to the bar and chart as we see it, for this we need to understand how the MM’s and big boys play the game and where the stop/orders may be as I have previously shown, also an understanding of the dynamics of ‘an equal and opposite force’ as in the theory of the ‘law of motion’ is also needed.

First thing first, my findings on this tick data stuff are…

It has limited to no use for me on lower time frames.
D1 and H1 can be useful with help for directional clues but MUST be traded naked in M15/5.
It holds no clue whatsoever on how long the move may last, it must be assessed bar by bar.
It is no holy grail just another tool for possible clues during low/no news trading times.

I will also involve the 3 bar hip/lop action here now, as with most things there are hip/lop formations and there are better hip/lop formations, I will be looking at these and trying to pick out the better ones for a few trades now.



So the first possible trade is below and had to be abandoned due to new events altering the current situation and terrain read.