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Criticize my trades!

  • #1
  • First Post: Edited May 17, 2018 2:31am May 16, 2018 4:08pm | Edited May 17, 2018 2:31am
Hi, my name is Jay and I'm a crap trader.

I'm writing this because since I signed up for FF, 10 years and over 15,000 garbage posts ago, some time away from FF and a break from trading and working through some personal problems, I came to the conclusion that I'm not that great. I'm a much better trader than I used to be, and that's because of the time I've put here. I feel that I'm only now starting to become an adequate trader.

I wouldn't say I have "changed". I'm not going to claim to be a whole new and different person. But I have evolved, to the point that I regret most of my past posts and really wish that silly red "flag" or "dot" or whatever it's called was taken away. I don't deserve it. There are good traders here that I needlessly infuriated and wish I could take it back.

So if I'm becoming an adequate trader, let's see about it. Criticize my trades. Hopefully, I can learn something.

All trades, unless specified, are on the daily chart. Using Ichimoku settings 9,26,52 and a parabolic SAR as another visual indicator. Entry decisions are based on the chikou span (the lagging line in cyan) to be below the cloud on shorts and above on longs. Future entries will be added in real time.

To start:

Entry date: May 7th:
Pair: Short, TRY/JPY @25.23
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Entry date: May 10th:
Pair: Long, CAD/SGD @1.0479
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Entry date: May 10th:
Pair: Long, CAD/JPY @85.78
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Entry date: May 10th:
Pair: Short, GBP/CAD @1.7266
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Not all sins are created equal
  • #2
  • May 17, 2018 12:54am May 17, 2018 12:54am
Hi Jay,

Good retrospective job you did on yourself I think that sometimes looking in the mirror is very positive, then we have to accept what we are, forgive and go on, nobody is perfect and we're all humans, with qualities and flaws.

As you asked for criticism on your trades, here they are...

Your TRYJPY is a bit late, I would have shorted near 25.60 when it was making a new low...

As for the others, they make sense for me and the entries are correct but beware that you are mainly long CAD, against JPY, GBP and SGD so whatever happens to CAD will affect these trades. In other words you are overexposed to CAD. Personnally, I would keep only one of them.

Good luck
Simplicity is the Ultimate Sophistication.
  • #3
  • May 17, 2018 1:05am May 17, 2018 1:05am
....Hello Jay,
I see where you are now, nice, I will come and read your posts from now on, nice charts you got there....good luck to your trading journal....
The Chonchy
  • #4
  • May 17, 2018 1:21am May 17, 2018 1:21am
Quoting broketrader
In other words you are overexposed to CAD.
That's a fair point. Not only overexposed but in too many trades at the moment. They will all be closed eventually though
Not all sins are created equal
  • #5
  • May 17, 2018 1:27am May 17, 2018 1:27am
Quoting Jay Walker
{quote} That's a fair point. Not only overexposed but in too many trades at the moment. They will all be closed eventually though
Oh! wasn't thinking to that extreme, wouln't you keep just one ?

I have the feeling that CAD is becoming stronger and there is a rate decision at the end of the month that could make it explode higher, if you were profitable by then, you could very well profit from an eventual rate hike while protecting your profits at the same time !
Simplicity is the Ultimate Sophistication.
  • #6
  • May 17, 2018 1:34am May 17, 2018 1:34am
Quoting broketrader
{quote} Oh! wasn't thinking to that extreme, wouln't you keep just one ? I have the feeling that CAD is becoming stronger and there is a rate decision at the end of the month that could make it explode higher, if you were profitable by then, you could very well profit from an eventual rate hike while protecting your profits at the same time !
I will be closing them based on my methodology which is that a SL will be hit eventually. Hopefully in a profitable way. I suspect the interest rate will remain as is but won't even attempt to predict that.

CAD is getting stronger on the back of oil prices. Still kicking myself from getting out of a Brent Crude trade a few months ago. But it was overall a nicely done trade.
Not all sins are created equal
  • #7
  • May 18, 2018 12:15am May 18, 2018 12:15am
Out of town and only with a mobile device. I decided to liquidate two positions to make room for other trades. Apologies for the bad screenshots

CAD/JPY sold at 86.516 for 73 pips

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TRY/JPY sold for 38 pips

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Not all sins are created equal
  • #8
  • May 18, 2018 1:55pm May 18, 2018 1:55pm
This week's trades have been hard on the stomach

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Not all sins are created equal
  • #9
  • May 18, 2018 1:55pm May 18, 2018 1:55pm
Hey man. Long time. Good to see you back. Yeah, the red diamond thing sucks. I assume you remember when that all started originally as the "vouch" system?
  • #10
  • May 18, 2018 3:07pm May 18, 2018 3:07pm
Quoting JR97
Hey man. Long time. Good to see you back. Yeah, the red diamond thing sucks. I assume you remember when that all started originally as the "vouch" system?
Good to see you!

I remember the vouch system and all the undue credit that came with it. This isn't better. Is there a burgundy diamond for traders that are examples of what not to do? I should get that. Twee, if you're reading this...
Not all sins are created equal
  • #11
  • May 19, 2018 7:12pm May 19, 2018 7:12pm
Quoting Jay Walker
{quote} Good to see you! I remember the vouch system and all the undue credit that came with it. This isn't better. Is there a burgundy diamond for traders that are examples of what not to do? I should get that. Twee, if you're reading this...
Lol...
The Chonchy
  • #12
  • May 21, 2018 12:07pm May 21, 2018 12:07pm
No new entry or exit to announce. But consider this:

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This short trade was entered on May 10th at 1.7266. For those of you keeping track, that means I would have been down a whopping, ego-crushing 91 pips at closing time on the 18th.

If I can use the reminder to trade your plan, this would be an example. But being down 91 pips before a weekend is a way to make you question yourself
Not all sins are created equal
  • #13
  • May 21, 2018 8:38pm May 21, 2018 8:38pm
Quoting Jay Walker
No new entry or exit to announce. But consider this: {image} This short trade was entered on May 10th at 1.7266. For those of you keeping track, that means I would have been down a whopping, ego-crushing 91 pips at closing time on the 18th. If I can use the reminder to trade your plan, this would be an example. But being down 91 pips before a weekend is a way to make you question yourself
...If it make you money, who cares being down 91 points? ...is not ideal, but....
The Chonchy
  • #14
  • May 21, 2018 9:22pm May 21, 2018 9:22pm
Quoting chonchy
{quote} ...If it make you money, who cares being down 91 points? ...is not ideal, but....
The psychology of managing a trade that's down 91 points over the weekend is a real challenge Amigo. A bigger challenge than figuring out when to enter and exit a trade.
Not all sins are created equal
  • #15
  • May 22, 2018 2:06am May 22, 2018 2:06am
Quoting Jay Walker
No new entry or exit to announce. But consider this: {image} This short trade was entered on May 10th at 1.7266. For those of you keeping track, that means I would have been down a whopping, ego-crushing 91 pips at closing time on the 18th. If I can use the reminder to trade your plan, this would be an example. But being down 91 pips before a weekend is a way to make you question yourself
Nice to see no ego! We all have times of being crap interspersed with sheer brilliance and you sound like a well balanced person!

So what if it's 91 pips? It is the risk those 91 pips represent that is the issue, whether it is 0.5% of your big account or 30% of your very small account, it doesn't matter. Is the monetary amount too much for you? Good luck!
  • #16
  • May 22, 2018 8:02am May 22, 2018 8:02am
Quoting jen101
{quote} Nice to see no ego! We all have times of being crap interspersed with sheer brilliance and you sound like a well balanced person! So what if it's 91 pips? It is the risk those 91 pips represent that is the issue, whether it is 0.5% of your big account or 30% of your very small account, it doesn't matter. Is the monetary amount too much for you? Good luck!
True. Simply that it's one of the things I struggle with the most and got to keep reminding myself.
Not all sins are created equal
  • #17
  • May 22, 2018 8:32pm May 22, 2018 8:32pm
Quoting Jay Walker
{quote} True. Simply that it's one of the things I struggle with the most and got to keep reminding myself.
...I have keep a trade with more than 91 pips in the red with a .10 cents lots and I can be fine no problem, and I have keep a trade 10 pips in the red that is heart break sometimes...
The Chonchy
  • #18
  • May 22, 2018 9:40pm May 22, 2018 9:40pm
EZ . trade short TF small stops ..otherwise youre swimming with the sharks for too long... GL
Learn THEN Unlearn
  • #19
  • May 22, 2018 11:10pm May 22, 2018 11:10pm
Short NZD/CHF @ 0.6844

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Not all sins are created equal
  • #20
  • May 23, 2018 3:05am May 23, 2018 3:05am
Quoting Jay Walker
Short NZD/CHF @ 0.6844 {image}
I would say that is probably not the best place to enter. You will find that price usually retraces about 1/3 to half way back up the candle and it could be sometime today. I would put in a sell order about 1/3 of the way up if I were to do that trade.
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