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Trading Journal (only my take)

  • #61
  • Sep 28, 2017 1:38pm Sep 28, 2017 1:38pm
Quoting stevepatt
EUR/USD D1 Pending Limit Sell EUR/CAD D1 Pending Limit Sell {image} {image}
EUR/USD D1 Sell Trade Result

+103 Pips +0.52%

EUR/CAD D1 Sell Trade Result

+133 Pips +0.67%
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 28th Sept 17 EUR:USD Short Trade Result.png Size: 99 KB
Click to Enlarge Name: 28th Sept 17 EUR:CAD D1 Short Trade Result.png Size: 70 KB
  • #62
  • Sep 28, 2017 1:42pm Sep 28, 2017 1:42pm
Quoting Landline
Hi Steve, did you manage to ride the EU and EC trades down that you posted a few days back? I've since climbed on board EC long as I mentioned, but haven't posted a chart obviously, but it's up 150 pips, half stowed away already, the usual practice etc etc.
Hi Landline,

Just updated the Trades I have posted here.

I have a different exit strategy to you but it works for me and my personality.

Glad things are going well for you.
  • #63
  • Sep 28, 2017 2:10pm Sep 28, 2017 2:10pm
Quoting stevepatt
{quote} Hi Landline, Just updated the Trades I have posted here. I have a different exit strategy to you but it works for me and my personality. Glad things are going well for you.
Hi Steve.

Nice work on your trades, lots of success there for sure, and beats buying grids from a position of weakness which is effectively what conventional grids do. If you look at my trades for example, I, in a sense grid if you like from a position of strength when I add a position from earned equity within that trade set. Have a think about that for a moment, and consider the benefits it offers. Most of my trades exhibit that style in one form or another, and I think that is the only advice I'd suggest to an already competent trader such as yourself to improve even further.

Nevertheless, great trading, keep it going.
  • #64
  • Sep 29, 2017 6:56am Sep 29, 2017 6:56am
End of the week and month... I've had a productive time, and there are subtle hints that the markets will retrace my positions. Time for me to close all my open positions, take the money and chill for a couple of days. I can always get back in the markets next week.

Maybe others managed to take advantage of the posted live trades too, if so, then you should have also made a tidy profit.
  • #65
  • Oct 2, 2017 4:31am Oct 2, 2017 4:31am
A few pairs look ready to trade in terms of tap. I have several that triggered, but I'll focus on one pair for now AN, and I'll update against this pair and perhaps another later. I should say, that Mondays is usually a jostling day, but conditions look right at present nonetheless to take a long entry on, and as usual, patience must always be in the equation.

Attached Image
  • #66
  • Oct 2, 2017 8:19am Oct 2, 2017 8:19am
Just some thoughts.

It's questionable to know what the purpose of trading sites such as FF serves. Those that already know how to trade and make a steady income (few and far between I'd say), don't actually gain anything from being here.

This poses the question then...why bother?...and I have to be honest and say that I'm starting to ask myself that same question, which is a question that a very few will also be asking themselves.

For me, it is nothing more than an indulgence being on here now and then, that passes the time when I'm doing nothing else. Others who are on here will have their reasons ie poor traders will always want something from those very few good traders. the good traders gain nothing, unless an anonymous thanks/recognition is the gain that they want.

All of this leads to further questions....and so it goes on...

Just thoughts...for now!
  • #67
  • Edited 8:51am Oct 3, 2017 8:15am | Edited 8:51am
There's not much to say so far today, other than AN is still in good shape albeit not much movement, and I've added another 2 pairs today that have also now fulfilled my tap requirements, so 5 pairs in play all told and that is plenty for his week. As I said, I will focus on AN for the purpose of the thread continuity for the time being, but if someone has a pair that they would like a second opinion on then ask away.
  • #68
  • Oct 3, 2017 9:58am Oct 3, 2017 9:58am
Quoting Landline
A few pairs look ready to trade in terms of tap. I have several that triggered, but I'll focus on one pair for now AN, and I'll update against this pair and perhaps another later. I should say, that Mondays is usually a jostling day, but conditions look right at present nonetheless to take a long entry on, and as usual, patience must always be in the equation. {image}
OK...the move up has now happened as I expected. I've adjusted the stop, taken 50%, and effectively have bought myself a free trade now. My next objective will be to see if an add on opportunity presents itself at some point, and I'll update if anything interesting occurs.

Attached Image
  • #69
  • Oct 4, 2017 5:48pm Oct 4, 2017 5:48pm
Quoting Landline
{quote} OK...the move up has now happened as I expected. I've adjusted the stop, taken 50%, and effectively have bought myself a free trade now. My next objective will be to see if an add on opportunity presents itself at some point, and I'll update if anything interesting occurs. {image}
A little more update on AN

I've just taken another 25% off the table, leaving 25% remaining, note, stop has not been touched yet, but tp has been moved up!. Price may retrace some now, and if it does to a sufficient degree, then I'll add another position.

Some may be wondering why I manage the trades this way, and I'm fully aware that 95% wouldn't. Rather than me say, take a stab at why I might approach it this way.

Attached Image
  • #70
  • Oct 5, 2017 8:29am Oct 5, 2017 8:29am
I have made 3 offers in all here to give viewers their opportunity to input one way or another. No one showed interest, so those opportunities are now closed.

Next week, I will trade lower t/fs and plan to post 20 or 30 trades over the course of 2 weeks or so using a slightly different method that lends itself more to those lower t/fs, but still revolving around tap. It's unlikely that I will have the time to post in real time however, but I'll certainly post them when I can.

I will complete the AN trade to it's conclusion that I've focussed on this week btw, and at present it's made the pull back as I anticipated and I reckon I'm roughly 10-12 hours from being in a tap condition to add another buy...that may change of course depending what happens.
  • #71
  • Oct 7, 2017 3:17am Oct 7, 2017 3:17am
Quoting Landline
{quote} Hi Steve. Nice work on your trades, lots of success there for sure, and beats buying grids from a position of weakness which is effectively what conventional grids do. If you look at my trades for example, I, in a sense grid if you like from a position of strength when I add a position from earned equity within that trade set. Have a think about that for a moment, and consider the benefits it offers. Most of my trades exhibit that style in one form or another, and I think that is the only advice I'd suggest to an already competent trader...

Hi Landline,

I mostly use Whole and Half Numbers to Trigger my Pending Limit Trades.

Once I see a Setup there is, usually, at least one Whole and Half Number where a Trade could potentially Trigger.

I use 50% of my Position Size at each Level.

It's when only one Position, initially, Opens that I have the potential to add the other 50% from a position of StrenGTH.

If I tried to only have one (100%) initial Pending Limit in place I run the risk of having Price run against me and not be able to enter a second Position because I was 100% committed with the first Trade.
Attached Image (click to enlarge)
Click to Enlarge Name: 7th Oct 17 GBP:AUD D1 Observations.png Size: 123 KB
  • #72
  • Oct 7, 2017 5:56am Oct 7, 2017 5:56am
Quoting stevepatt
{quote} Hi Landline, I mostly use Whole and Half Numbers to Trigger my Pending Limit Trades. Once I see a Setup there is, usually, at least one Whole and Half Number where a Trade could potentially Trigger. I use 50% of my Position Size at each Level. It's when only one Position, initially, Opens that I have the potential to add the other 50% from a position of StrenGTH. If I tried to only have one (100%) initial Pending Limit in place I run the risk of having Price run against me and not be able to enter a second Position because I was 100% committed...
I'm pleased to see that you now appear to have completely abandoned the negative grid position system that you were pursuing in the cbg thread and all the complexities and stress that that style inevitably creates which I outlined previously, and I suspect others in time will also realise the folly of such systems (even though some took a dim view of my comments at the time haha).

You now have a game-plan and it looks like it's working for you. An entry method is a very individual thing, along with the management of the trade(s) once we are involved, and no two people operate the same. Often, traders will be looking at "getting in" all in the same region and all at the same time, which happens irrespective of their chosen entry method, because most methods are actually coincidental give or take a candle or two no matter what signal method is applied.

Obviously the marketeers know this, so usually, you can expect odd market reactions at those times in their attempt to spoil the party.

Anyhow, returning to your management, the next phase that I'd recommend you think about is how you can stay in a trade (even if you don't add on), because I always think that there is nothing more disappointing than to hit the target, only to see the market zoom off further without you, it happens often!

I have shown various examples how I go about it when I'm involved via H4 upwards.

Stuff to ponder upon for the w/e
  • #73
  • Oct 8, 2017 2:03am Oct 8, 2017 2:03am
Quoting Landline
{quote} I'm pleased to see that you now appear to have completely abandoned the negative grid position system that you were pursuing in the cbg thread and all the complexities and stress that that style inevitably creates which I outlined previously, and I suspect others in time will also realise the folly of such systems (even though some took a dim view of my comments at the time haha). You now have a game-plan and it looks like it's working for you. An entry method is a very individual thing, along with the management of the trade(s) once we...

Hi Landline,

My approach has, pretty well, always been Momentum - PullBack - PA - Enter Trade with a good R:R ratio.

I have adapted that now to be Momentum - PullBack to a Specific Level - Enter Trade - I've started to use more of an Emergency Stop Loss to try and avoid the Marketeers Manipulations to Accumulate Orders. By doing this my R:R Ratio doesn't look so good but I won't be getting kicked out of Trades that then go in my direction Post #33

I will exit Trades when I see I am on the wrong side the Market the Emergency SL will very rarely, if ever, be hit.

As you say, I will have to work on how I can leave a certain % of my Position Size Open in case the Trade I am in turns into a Runner. I think I will look to do this particularly when Price is at Market extremes, multiple year High/Lows

I must admit though my personality is more inclined to take a certain pip / % amount, I hate giving back to the Market, I can always reenter if Price keeps going without me.

As we both know there's no one way fits all approach.

Thanks for your feed back.
  • #74
  • Oct 8, 2017 5:36am Oct 8, 2017 5:36am
Quoting stevepatt
{quote} Hi Landline, My approach has, pretty well, always been Momentum - PullBack - PA - Enter Trade with a good R:R ratio. I have adapted that now to be Momentum - PullBack to a Specific Level - Enter Trade - I've started to use more of an Emergency Stop Loss to try and avoid the Marketeers Manipulations to Accumulate Orders. By doing this my R:R Ratio doesn't look so good but I won't be getting kicked out of Trades that then go in my direction Post #33 I will exit...
I understand.

The main thing is that your current method of entry and management is definitely an improvement to your recent experiment let's say.

Time will tell as always whether you are able to both persevere and improve upon it where needed.
  • #75
  • Oct 9, 2017 11:01am Oct 9, 2017 11:01am
Quoting stevepatt
{quote} Hi Landline, My approach has, pretty well, always been Momentum - PullBack - PA - Enter Trade with a good R:R ratio. I have adapted that now to be Momentum - PullBack to a Specific Level - Enter Trade - I've started to use more of an Emergency Stop Loss to try and avoid the Marketeers Manipulations to Accumulate Orders. By doing this my R:R Ratio doesn't look so good but I won't be getting kicked out of Trades that then go in my direction Post #33 I will exit...
Gl Steve
  • #76
  • Oct 11, 2017 7:06am Oct 11, 2017 7:06am
Looking through some of the threads, it never ceases to amaze me how the simplest parts of trading are made incredibly difficult for the majority by over-complication.

Just know the current swing bias, and if price doesn't retrace more than 30% (as a rule of thumb) on that existing bias, then the bias is still in tact, and trade plans should then be much less confusing, because there should then only be one direction to be considered for any set-up.

Simple, but jeez, talk about some making that straightforward principle difficult or what....lol
  • #77
  • Edited 4:19am Oct 12, 2017 3:49am | Edited 4:19am
Many people tend to go through their decision making processes without enough thought applied to the what-if situations.

This happens in all the decision instances btw, and they are obviously wide and varied in number, which is yet another reason why many get themselves confused on what to do or what can be done in any given circumstance.

Each activity, (and as I said there are numerous), requires clear thinking, and I personally don't allow anything or anybody to influence the decisions that I'm making.

If we take the basic entry or/and the potential entry aspect as an example.

I've seen plenty of times people place pending orders, which in itself is fine, because it means that they are aware that better value could well exist if their order is triggered, only to find that the train leaves without them on board.

Approximately (in my case), 50% are actually triggered, leaving half that don't. That can be quite frustrating, and I usually make one of those decisions I was talking about, ie I also place a market order at a reduced size, at the same time as the pending order for the 50% of occasions where the market doesn't trigger the pending.

I know my stops, so I know my risk, and most importantly (for me that is) I know that I've put my market order and pending order in such a place that I am happy either way whether price runs for or against me.

Food for thought, especially for those unsure how to make an entry decision.
  • #78
  • Oct 12, 2017 6:30am Oct 12, 2017 6:30am
Quoting Landline
Many people tend to go through their decision making processes without enough thought applied to the what-if situations. This happens in all the decision instances btw, and they are obviously wide and varied in number, which is yet another reason why many get themselves confused on what to do or what can be done in any given circumstance. Each activity, (and as I said there are numerous), requires clear thinking, and I personally don't allow anything or anybody to influence the decisions that I'm making. If we take the basic entry or/and the potential...
I have been thinking along the same line if thought.
I did not find a reason for setting stop loss 10 points away because it means accepting the fact that market might move by that much. So, why not wait for after those 10 points
A trade should be based on an assumption based on facts
  • #79
  • Oct 12, 2017 12:20pm Oct 12, 2017 12:20pm
Quoting maverick2017
{quote} I have been thinking along the same line if thought. I did not find a reason for setting stop loss 10 points away because it means accepting the fact that market might move by that much. So, why not wait for after those 10 points
What's that to do with what I've said?....it's a different topic!
  • #80
  • Oct 12, 2017 10:57pm Oct 12, 2017 10:57pm
Quoting Landline
{quote} What's that to do with what I've said?....it's a different topic!
"Approximately (in my case), 50% are actually triggered, leaving half that don't. That can be quite frustrating, and I usually make one of those decisions I was talking about, ie I also place a market order at a reduced size, at the same time as the pending order for the 50% of occasions where the market doesn't trigger the pending."

In that case pardon me for misunderstanding but I still don't get the topic. Could you explain it in some other way.
A trade should be based on an assumption based on facts
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