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Gejordan Weekly Journal

  • #721
  • Nov 30, 2017 7:18am Nov 30, 2017 7:18am
Quoting gejordan
and videos continue... https://youtu.be/bs6SO2B_hbg

missed this video and saw it just now... .. Thank you.
  • #722
  • Nov 30, 2017 7:32am Nov 30, 2017 7:32am
Quoting gejordan
So, I'll do a short text update and then do a video tonight, but price moved up during Tokyo, tested the low during London, and then bounced off the bottom of our overnight channel and is going up right now. Hmmm... seems like I remember hearing something similar to this might happen?!?! Rearden, can you see how I weaved together the simple movement of price, located some interesting areas, accounted for news, and put together a plan? All a day in advance.
Yes..... Its wonderful... it looks simple when you do your analysis...... I am learning...Seeing the weekly chart on Sunday evening, my bias for EURUSD was bullish. I was expecting it to retrace to 1.1850 area(wick of the previous weekly candle ) and go up.... looks like I need to do some fine tuning and study of price movements. Thank you very much.
  • #723
  • Edited 11:44am Nov 30, 2017 10:26am | Edited 11:44am
Quoting Rearden
{quote} Yes..... Its wonderful... it looks simple when you do your analysis...... I am learning...Seeing the weekly chart on Sunday evening, my bias for EURUSD was bullish. I was expecting it to retrace to 1.1850 area(wick of the previous weekly candle ) and go up.... looks like I need to do some fine tuning and study of price movements. Thank you very much.
you're talking about weekly and hourly and so on.... just look at a m15
Be bullish on you.
  • #724
  • Nov 30, 2017 4:40pm Nov 30, 2017 4:40pm
Tadeusz, go back and check post 719 and see if you are up for that request, if not, its perfectly ok. Here is a video for today and tomorrow.

Inserted Video
Be bullish on you.
  • #725
  • Edited 6:37pm Nov 30, 2017 4:54pm | Edited 6:37pm
Quoting gejordan
{quote} you're talking about weekly and hourly and so on.... just look at a m15
Yes sure.

Quoting gejordan
Tadeusz, go back and check post 719 and see if you are up for that request, if not, its perfectly ok. Here is a video for today and tomorrow. https://youtu.be/OBS1KPjlyf8
Thank you for the video. Watched it on time today.
I was considering 1.1870-80 area also for a long because price went down from there yesterday for the short. So I was thinking of taking a long if the price comes down to 65-80 area.... goes up and come down again and gives bullish PA(Double bottom). Why didn’t you consider it to be a good area for long during your analysis? I see possibly two reasons. Please correct me If I am wrong.

  1. because its in middle of the swing created by big upswing (1.1800-1.1930) yesterday.
  2. We are already seeing price getting supported at 1885 area…so if it breaks that support its less likely to hold at 70 area…


Sorry for too many questions..
Thank you.

  • #726
  • Dec 1, 2017 1:41am Dec 1, 2017 1:41am
Quoting gejordan
{quote} Tadeusz... if you are up for it, do some teaching. Break Rearden's post down and it will be a nice review for you and see if you can remember the things we've covered over the last 100 years. (and if you can't I will or if you miss something I'll fill it in... just had a thought this morning that this would be a good exercise for you to start cementing all this success you are having lately.) Helpful hint Tadeusz - don't focus comments on price action, but on big concepts of what we do as unprofitable traders versus where we try to get as...
From the picture Reardon posted, the trade was a little early in the day. We prefer to wait until the Europe session opens when there is generally more movement and we can use the Asian session to help inform our trades.

Looking at the smaller channel indicated by the purple lines, the trade was taken from the middle of the channel. We want to trade from the edges of the channel back towards the middle, or from the edge away from the channel to reduce risk and increase potential reward. Looking at the days range at that time, it was near the top trading towards the top, so there was more risk to the bottom than potential reward to the top. There was potentially a bigger channel defined by the down move of the previous day, from the previous days high to the previous days low. The trade was near the top of this range, trading towards the top edge, so alot more risk to the bottom than room for profit to the top.

Lastly, price made it to the top of the smaller channel/days high, so that should have been room for a partial profit. If there wasn't enough room to take partial profit, then the entry needed to be lower to allow room.
  • #727
  • Dec 1, 2017 3:59am Dec 1, 2017 3:59am
Quoting Tadeusz
{quote} From the picture Reardon posted, the trade was a little early in the day. We prefer to wait until the Europe session opens when there is generally more movement and we can use the Asian session to help inform our trades. Looking at the smaller channel indicated by the purple lines, the trade was taken from the middle of the channel. We want to trade from the edges of the channel back towards the middle, or from the edge away from the channel to reduce risk and increase potential reward. Looking at the days range at that time, it was near...
Good job Tadeusz... I'll expand in a couple of places. Rearden, in your intro post you said you wanted to learn from someone. So, I am showing you what I do. Major concepts that can be applied to almost any method. I can take my concepts and apply them to almost any system in the trading system forum and make even the most ridiculous system more successful. Be open to the concepts. Apply them, and most importantly, when you fail to apply them ask yourself why you didn't apply them. So... you didn't follow the channel rule as Tadeusz pointed out. Why not? You know about it, you read about it, I have done videos on it for you, why didn't you follow it? In the answer to simple questions like that are the keys to whether or not you will become a successful trader regardless of the method of trading you use.

Next up, you took a trade from a bad place and got away with it... take some profit or move to break even. You identified this as well. So now ask why? you answered that you expected it to move higher and then said that you should do what price is showing you. Why didn't you do what price was showing? Dig deep. You don't have to answer these questions on here, you can do that in private on your own time, or it is awesome when you do dig deep on here because that is when the real learning takes place... for you and for anyone else that might read this years from now.

Finally, as you are learning, I would suggest taking a first profit at 10 or so pips and then tightening your stop. Take a second profit wherever you want, but lock in first profit as you are learning. When you become consistently profitable doing that, then you are becoming a master at the up and down nature of price and you will have worked through many other issues as an intended consequence.

So to summarize Tadeusz and me: Trade from the edge of your channel and be aware of the other channels and when you don't follow that rule ask yourself why didn't I and dig deep for the answer.
Be bullish on you.
  • #728
  • Edited 8:38am Dec 1, 2017 7:48am | Edited 8:38am
So, the day in review... we had the move up to challenge the highs, it was rejected like yesterday, opportunity for short with nice profit. Price made it down to 50 area I mentioned (happened now, not overnight, put happened nonetheless) just gave action and retrace, get long, TP1 move to BE and see what it does.

Nice week as far as profit goes using simple ideas. We aren't always going to have the movement we've had so take advantage when price is moving. Have a good weekend. Will do another video when trading fires up next week.

Update: So we are having one heckuva move. Depending on entry and stop management you might have TP1 and then BE. Even if that happens when you are learning to be profitable... it's a good thing believe it or not. You showed that you could see price, you took profit, and if you get mad missing the move then you get a chance to work that out mentally. After you master that, you can work for the larger TP.
Be bullish on you.
  • #729
  • Edited 9:21pm Dec 1, 2017 8:29pm | Edited 9:21pm
Quoting gejordan
So, the day in review... we had the move up to challenge the highs, it was rejected like yesterday, opportunity for short with nice profit. Price made it down to 50 area I mentioned (happened now, not overnight, put happened nonetheless) just gave action and retrace, get long, TP1 move to BE and see what it does. Nice week as far as profit goes using simple ideas. We aren't always going to have the movement we've had so take advantage when price is moving. Have a good weekend. Will do another video when trading fires up next week. Update: So we...
Hi gejordan,

It went up from the 1.1850 area yesterday as you said in the review . I was busy after early London and opened charts only today morning.... so I didn't take that trade. Yes, It was nice week to trade and I learned quite a lot too. Thank you.

PS: I am still digesting your post above. I am doing a review on my trades this week to find out things that I do wrong.
  • #730
  • Dec 1, 2017 9:15pm Dec 1, 2017 9:15pm
Quoting Tadeusz
{quote} From the picture Reardon posted, the trade was a little early in the day. We prefer to wait until the Europe session opens when there is generally more movement and we can use the Asian session to help inform our trades. Looking at the smaller channel indicated by the purple lines, the trade was taken from the middle of the channel. We want to trade from the edges of the channel back towards the middle, or from the edge away from the channel to reduce risk and increase potential reward. Looking at the days range at that time, it was near...
Thanks Tadaeusz,

Yes my trade was from middle of the channel. But at the time of taking the trade I thought it is going to go up from the orange arrow area and took it. And also the trade was taken from the top towards the top thereby increasing the risk. As you said I should have been aware of the bigger channel.Thank you very much for the help.
  • #731
  • Dec 3, 2017 10:16pm Dec 3, 2017 10:16pm
Quoting gejordan
{quote} Good job Tadeusz... I'll expand in a couple of places. Rearden, in your intro post you said you wanted to learn from someone. So, I am showing you what I do. Major concepts that can be applied to almost any method. I can take my concepts and apply them to almost any system in the trading system forum and make even the most ridiculous system more successful. Be open to the concepts. Apply them, and most importantly, when you fail to apply them ask yourself why you didn't apply them. So... you didn't follow the channel rule as Tadeusz pointed...
HI Gejordan,

Thank you for the post. During weekend, I did a review of my trades from Sept 2017 and found some common characteristics of my failed trades. There are quite a number of them that I took note of. But the major ones are the below.

1.Buy from top & short from Bottom:entering trades which are near previous swing highs(Just like last trade that i took). This happens after missing a low risk entry from the start of the move.
2.Middle of channel entries: Every time I see a good PA candle (BUOB/BEOB) I enter the trade without considering the location(See if it is edges of channel) and end up losing money.
3.Questionable PA...the size of the PA candle is very small compared to the candles coming infront of it. Which mean I took the trade before market showing any evidence of market changing in direction.
4.Trying to turn the market: shorting when the market is going up and taking long when market is coming down.
5. Taking trades in opposite direction after repeated failure at a level . Also when market is showing Higher Lows. For e.g. Some thing like shorting at the neckline of ascending triangle.

I understand that in your post you are asking to dig deep in to why the above errors are committed. I think these errors are caused primarily because I am trying not to miss trades and enter slightly early at the first sign of reversal..... without considering the overall story of what the market is doing...... Sometimes I hesitate to enter and miss a move. then attempt for a follow up entry at the worst place as far as risk reward is concerned.
  • #732
  • Dec 4, 2017 4:22am Dec 4, 2017 4:22am
Quoting Rearden
{quote} HI Gejordan, Thank you for the post. During weekend, I did a review of my trades from Sept 2017 and found some common characteristics of my failed trades. There are quite a number of them that I took note of. But the major ones are the below. 1.Buy from top & short from Bottom:entering trades which are near previous swing highs(Just like last trade that i took). This happens after missing a low risk entry from the start of the move. 2.Middle of channel entries: Every time I see a good PA candle (BUOB/BEOB) I enter the trade without considering...
Good job. Well, some of those things in your analysis you might not have been thinking about before I mentioned them this past week so make sure you don't do those things going forward. Its nice that you listed them because now you have the start of a cheat sheet of bad habits to avoid. On your mental analysis... f you start breaking rules from this point forward it will be imperative that you identify why. Take the thoughts you mentioned here and keep them in mind in case they start repeating in the future.
Be bullish on you.
  • #733
  • Dec 4, 2017 4:23pm Dec 4, 2017 4:23pm
What I did today and what I look for tomorrow

Inserted Video
Be bullish on you.
  • #734
  • Dec 5, 2017 3:30am Dec 5, 2017 3:30am
Attached Image (click to enlarge)
Click to Enlarge Name: 171205 EURJPYM15.png Size: 12 KB
  • #735
  • Dec 5, 2017 3:53am Dec 5, 2017 3:53am
Quoting Tadeusz
{image}
Oh no you didn't.. oh yes he did
Be bullish on you.
  • #736
  • Dec 5, 2017 5:26am Dec 5, 2017 5:26am
Hi Gj,

I took one trade today EURUSD..... +14 and +19. I placed a pending order at 50 after BUOB. It went up without taking me in... I didn't cancel the pending order.... and waited to see if it retraced.

Also, I was considering a short from where I exited . The reason being it is edge of the channel... but since the outlook for today was bullish I hesitated... Also the bearish candle was not BEOB and was having 3 pips body and 4 pips lower wick(rejection). Bears were not powerful enough to close near the low of the candle. So I didn't take it. but now it came down anyway...Would you have considered this to be a good location to short?
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-5 DEC.JPG Size: 137 KB
  • #737
  • Edited 5:45am Dec 5, 2017 5:31am | Edited 5:45am
Quoting Rearden
Hi Gj, I took one trade today EURUSD..... +14 and +19. I placed a pending order at 50 after BUOB. It didn't take me in and went up... I waited for price to pull back ..... {image}
Excellent... there you go. Took basically the same trade, I took a first profit at the top and just got knocked out when it came back down. Yes, that was a perfectly valid action from which to take a short. Just be aware of the risks. This one would've worked out, next one might not. The point is to keep yourself in trades that are better than 50/50. Price action at a location is only half the story... the rest is understanding the nature of price.
Be bullish on you.
  • #738
  • Dec 5, 2017 6:48am Dec 5, 2017 6:48am
G wants me to watch an 8 minute video on a tuesday morning in the middle of trading... he's out of his **** !!!!! %&%**^ mind.
Inserted Video
Be bullish on you.
  • #739
  • Dec 5, 2017 7:04am Dec 5, 2017 7:04am
[quote=gejordan;10561761]{quote} Excellent... there you go. Took basically the same trade, I took a first profit at the top and just got knocked out when it came back down. Yes, that was a perfectly valid action from which to take a short. Just be aware of the risks. This one would've worked out, next one might not. The point is to keep yourself in trades that are better than 50/50. Price action at a location is only half the story... the rest is understanding the nature of price.[/quote]


Quoting gejordan
G wants me to watch an 8 minute video on a tuesday morning in the middle of trading... he's out of his **** !!!!! %&%**^ mind. https://youtu.be/3IwkiBSKElE

Thank you.....
  • #740
  • Dec 5, 2017 6:27pm Dec 5, 2017 6:27pm
Probably be the last nightly video... Rearden, you should be getting the idea... now I want to see you roll with the idea for a few weeks and post what happens and I'll give you some feedback on a collection of trades.

Inserted Video
Be bullish on you.
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