Journey to consistency

still nothing.
EUR CPI numbers in half an hour.
now I'm starting to think what did I get myself into?
unless it's waiting for the numbers my backtest data suggests it should get going in 30m-1h that's the max I'm willing to wait.

I'll give it 30minutes or an hour more if nothing happens then I'm out.
There's always tomorrow and the day after tomorrow.

probably got out a little early considering my SL at 50pips, I should have at least aimed for 50 but it's better than taking a loss sure is but definitely like to "try to" stay in a little longer maybe move the SL. But for now I guess I should work towards getting the direction and the entry right.

except for accidental 1unit long trade I'm flat for now.

The momentum has been to the upside, after I bailed out of my short yesterday (I'm thinking 40 - 50pips is a good number to aim for London open moves) and by Frankfurt close it broke above 155.50 now its in no mans land until 156 I probably am left out of a long trade and as I"m typing it is trying to break above some form of a resistance once it breaks I"m sure it will try at 156, so that's my 50pips maybe.

But truthfully speaking I was uncomfortable buying GJ this high the saying goes buy low and sell high, I was initially aiming for a short at 155.50 but as the candle broke above 155.50 obviously short trades were out of the picture.

Oh it's too late now.
C'est la vie.
But I'll try not be a whiner and will try to get on in a trade like today's god it was fast and a little furious

Trade what you see and not what you think it should go. Markets don't care about your bias at all.

there we go 40pips that should be good @ 156.

well at least I didn't try to short this. I tried to trade what I see only went with 1unit long and a little too late.

guess I'll have an early time out

I need to continue my daily exercise

GJ short
+20pips.

Let's focus on getting it right and on time.

Phase 2: capturing the range 30-50pips.
averaging 40pips daily mon and fridays I could do 20-30pips , tue wed thurs 50-60pips.

Except for minor hiccup trade yesterday on GJ 1unit, all of my GJ trades have been consistently positive which I am pleasantly surprised after years of struggle and months of drawdown I almost gave up what was I doing wrong ? I couldn't seem to find any solution. It's too early again to make anything conclusive but since I've been trying to trade what I see (go with the flow) + PA + GJ only I think I might have found a recipe for consistency and I'm fairly confident whereas in the past all of my results were purely dependent upon indicators and patterns and my ability to recognize them accurately each time and pray that they will work again and again well obviously that never worked for me. Patterns are helpful as is PA but indicators I think they're nothing but a distraction from whats actually happening. I'll have to keep trading this demo for a little while maybe 2 more weeks and go live with a mini acc 2K and start trading 0.02lots.

Last note, since I only concentrate on London open moves I only get to open 1 trade per day and on 1h which really helps deduce overtrading/revenge trading if I'm wrong by -30-40pips I should get out if I am right it shouldn't go against me that much after the entry unless something unusual is happening but usually its my misjudgments therefore making things much easier to navigate for me. I like this way of trading, 1h GJ only, capturing the 1h candle body within the first 2 or 3 hours after London open sets a good context that I can efficiently work instead of trying to look for setups across every pair since 8AM asia every hour up until I go to sleep I hate that, I need a set time for work and a set time for off from work.

Well it's friday and I'm happy to end the week on a positive note, maybe all of my hard work is finally going to pay off

GJ short -17pips. I was wrong it's going to go up.
I want to at least end the day BE so I will attempt a long entry after this current candles close. 2 entry max when I'm wrong. 1 entry when I'm right.

Don't like how the candle is shaping on 1h.
However on 4h GJ remains to be bullish.

+25pips.

GJ long that was fast.

still going strong.

I think I should look to take profit at 30-40pips, I'm happy with 30pips daily

winners are catching up with losers.
win ratio is at 49% not bad.

congrats!
but dont get too euphoric or greedy.
see your chart the range of the move.
volatility can get quick, good sized profits, and quick good sized losses too.
if you feel, maybe split a trade and close part at X pips, and try to run the rest a little longer is a solution.
just remember, that net 25 pips a with minimal lot size still would be 5% monthly on the current equity.
it sure beats losing!

sure 25pips daily beats losing absolutely !

and to be honest I can be content with that but I also have to include days where I'll lose a trade so to make up for those days it would be ideal if I do earn a little more than 25pips on some days like today where GJ took a beating hard and there was no excuse for GJ not to retreat back at least a little, but from what I have measured with GJ even if I am going against the trend as it sometimes happens like yesterday the move usually good for 30pips so I'm clearly taking profit too early but like you said it beast losing, but I'll definitely work towards at least hitting that 30pips daily.

I am nowhere near giving advice to anyone, but i have learned that we will have to detach ourselves from the recent losses or gains, approach every trade as if it's our first trade. Thinking of making back losses or recovering is not helping to being objective , atleast in my case.

that's true but I only try to capture the move 2-3 hours after London or immediately upon the open depends on the day and my predictions are only as good as for 2-3hours whatever happens afterwards I don't even try to predict if that makes any sense. DAX is a whole another beast so I get what you mean, GJ has been relatively good to deal with than DAX.

Just wanted to show some love in your journal. Love the title!

GJ short +21pips not complaining consistency is my priority right now.

I realize that I can't aim for 40pips daily that's not realistic since I only trade 2-3hours after London open and depending on the PA, the feel I should decide if I should take it a longer or take profit at 20pips. As for today I am aware GJ might clap back as its standing at a support 151.50 at any minute but obviously going up was still a tall order with R1 152.50 but yesterday definitely there was more room to roam up ended up 60pips, so I just have to learn to go along with my take profit as I am doing with my trading.

+plus I have to mention my entry was a little too late, if I had entered at a perfect time I would have earned 30pips at least. So improvements are sure to be made, and take the sell trade I misjudged ended up with -17pips mentioned I was going to go long as soon as I was proven wrong but never followed it up if I had then I would have ended the day BE at least, so for now those little things needs to be improved ; that I would try to end the at least BE if I'm proven wrong and will try to take anywhere between 30pips to 60pips averaging 40pips daily.

2 GJ losers -30pips. and it might actually is going my way short attempts twice I may have actually closed it off too early. Where has my patience went ?

I'm not going to trade anymore for the day if I can recover these losses by Friday I'd be happy. Bunch of high impact announcements are lined up today for pound maybe wasn't a good day to trade at all in the first place. There's a good reason why I should stick with 1 entry per day.

Maybe another rule no trading on days with rate decisions. And if I am wrong I call it a day. I'm also looking at EURAUD, GBPAUD, EURNZD and GBPNZD crosses 5m, might want to test few things starting from tomorrow.

GU short is doing well.
GJ was harder to deal with today.
But all in all I like them both especially around London open.

Let's forget about 5m and euro and pound crosses. It's not like I haven't traded them before and they're any better than GJ or GU. I'll stick with 1h for sure and maybe might dabble with GU as well on days where GJ acts up.

I definitely went against the trend there. But still managed to grab few pips. I know 1lot on 2k with DAX is huge, most likely I'm not going to trade 1 lot on a live 2K account but 0.02lots maybe but I'm just testing the waters again definitely seeing some improvements with indexes, trade was entered on a 2m chart don't think I need to do multi time frame analysis it complicates things for me, I just like to analyze what's going on, on 2m and go with the flow time of course matters "a lot" and for this particular trade I went in a little too early therefore went against the trend most likely on a London open countertrend move nevertheless I knew it as soon as price bounced back.

I keep coming back to DAX because of the range and the time period it needs to accomplish the range for the London open, Nikkei is an another option and it moves more than DAX but then again the spread is higher and the lot size starts at 1lot rendering DAX as the number 1 option. GJ is great as far as volatility is concerned but I feel like I can only grab 20-30pips in 1 or 2hours and I like 1h for GJ so my SL extends more than the profit target. I keep rambling on and on... bottom line is if I can keep the scores and make some more I'll stay with whatever, for the time being DAX and GJ will be enough but if I can truly master DAX on 2m well the possibilities are endless compared to trading GJ on 1h. But for now I'm limiting myself to single entry during London open. I might as well keep it this way. I just need to master that single entry.

2 entries.

net positive for the day.

I'm doing better than I was this time last year.
I kept losing trade after trade on DAX on 1m.
fast forward 1 year, I'm doing 2m so far so good.

I'm feeling the tempo I'll keep dancing until the end of Feb on demo and see how things pan out then not in a hurry to go with a live acc just yet. I need to feel at least 80% sure in myself that I'm not going to blow my account. For that of course I need to practice good risk management so lot size will be smaller than 1unit for Oanda demo don't think I can adjust the lot size.

I like that I can keep my losses minimal than my winners with this method.

2 entries again. I really need to nail that single entry down.
Crappy open.

BE for the day it was a crazy open (at least to my standard)

If I can really nail that single entry down I can eliminate the probability of losses and I need that.