Dbrown101's Training Wheels

So aside from the fact that i might've labeled my waves wrong, say i was trading short on wave B. the scout, checker, and attack sequence (20 in fti's example)would be played out over the smaller a-f waves?

You can put em in where you want - you decide no set rules (good to look at where buyers/sellers may be (sup/res) and momentum pushes and what zones are being taken out - but if you had em in short in wave B you need to be aware it could go long in a deeper pullback and then short or even reverse long. After all after an impulse you could just get an abc and then run short or a complex pullback like this one and then run short or impulse then range then short or it could reverse long (could be in accumulation) - lots of options. Look to left where your B wave went down where did it find buyers and how did it react? Then at the top where did it find sellers and how did it react to tell you. Lots of clues going on for feel - but we need to have a plan of possibilities I guess. Some peeps in that pullback would only trade short and might rescue later if in too early some peeps might kill scout - all may do different things. Up to you. Just remember planning and adapting to the now - that is the skill.

I cannot say how I would have felt as not trading at mo.


Alex

U/J
Eu sell.

Update - Squared as I can't babysit it right now.

EU, scout in. Sell


add sell 1.17011

Chart. Will square soon. Correction coming up I guess.

Squared all @ 1.16787. I think daily is still down, experiencing a bounce.

Daily= down
1hr = up

So no bother trying to squeeze blood from stone. Took what is given.

=====

GU sell...

Squared bcoz I can't monitor the trade, leaving the battle station soon.

I'm at page 161 on FTI thread, I need to read the first 200 pages couple of times. This is my first read.

Then I want to read Dongsky old thread(really looking forward to it), I believe it's a gold mine, as you can follow his progress back then. I'll be able to learn some good attacking sequence as I'm very bad at it right now.

Yesterday trades.

I was all over the place today, totally undisciplined. Still learning to dance and be less rigid... Be nimble.

Finished the 1st 200 pages on FTI thread. I'm reading Dongsky's old journal, I want to read 1st 100 and last 100 pages. Then go back to read FTI's thread again.

I'll open a personal journal, where I'll try to post my chart before the fact, It's a lot of pressure sometimes.

- does not look all over the place to me: but what patterns were you trading?

I see that as upthrust ie failed breakout of zone (at very top) then down to take out the buyers stops then retest the breakout zone for weak sellers and break evens and stops then down again.
Then where might it go to next - look at higher time frames to check it out at the highest high on your chart and for where it might go to next.

Alex

Haven't posted in a while...been on the road for the past couple of weeks so no time to trade. Im excited to get back to it! not sure I'll be trading for the rest of the week as I have some obligations to attend to, but maybe i can squeeze some time in.

Some thoughts to be aware of next week...

After reviewing other peoples journals this week I find myself viewing the market from a broader perspective. Previously I would just pull up the 1h and look to see if it is trending or ranging . Then I would zoom in to find entries on 5m. This is a very simplified approach. As I progress along in my learning process I become aware of the more information. I am beginning to see wheels within wheels within even larger wheels.

What is this picture suggesting?


That last down leg on EUR/USD marked with the red line and its retrace (yellow). The retrace was >50%...not trend strong. If you look at the 1h what do you see? Possible rounding bottom? creating a double bottom /slightly higher low on the D1 trend?

and if you look at the GBP/USD what do you see? similar story?

what about the USD/JPY? that first retrace of the D1 uptrend(marked with the first blue line at the top) was pretty steep and fast (7 days) compared to the trend continuation up to the second blue line (took twice as long). Now possible double topping on the 1h?

and the dollar index?(the market wheel)? where is it now? key level?


The reason i bring this up is because of my changing perspective on the markets. Before i had a very simplified but narrow view of the Market Structure. My trades were faster and revolved around legs on the 5m(more hit and run style).Dancing the 5m legs as long as i was in the direction of the 1h trend .Now that I see (or think i see) broader market structure how does this change the way i trade? More longer term trades(still daylight manageable) where 5 minute swings arent as important as long as the market maintains its structure. It's hard to explain the differences in these mindsets as they are subtle. Just slightly different... One is a more zoomed out mindset and the other is more zoomed in. terrain will most likely dictate which MO to adopt.

On the other hand... another thing to be aware of is analysis paralysis. Too much analyzing can cause us to freeze and make it harder to make a decision. sometimes its best to keep it simple. Keep it simple and manage positions the best you can.

sometimes i feel a little rediculous writing these long winded posts with my thought processes. I dont know why but i feel its necessary to document the evolution of my mindset. That way if things go wrong I'll have a road map to go look back on. Then again... Maybe its just my style

One final note...

Its hard to keep the balance of developing a bias, predicting, and flowing in the now in check. My analysis above is subtly being predictive(but not really). More that its something to be aware of. The market has been bullish dollar. The NOW? possible change? Beware of USD bears that may be lurking. IMO There is a confluence of signals suggesting so.That's all I am saying. But Im nobody .

Either way...they key is management of positions.

For Future----> Need to learn more about fundamentals and how the market reacts to them. (especially interest rates)

The NOW-----> tequila !!!

Have a good weekend!

Think about orders.....where are bunches of them ...what type ......who is being hit .....and reactions


Alex

Hi Dustin

thinking for yourself, and outside the box of the mainstream (have you watched 'the strangest secret' i posted?), there are only buyers and sellers in the market, what are they doing?, you will not always get it right first time/entry but you can put your 'beyond defeat' (AOW) and actually make money no matter how badly timed your entry may be, as with anything it is all about training and mindset....

good luck, seems you are seeing the better paths to follow.

already feed and on it my friend ... it is the weekend ... relax... cheers.

regards

Phil.

ps.... Alex you have a good one too my friend.

....watching Spain Portugal fab ...and I dont like football...cheers my friend ...my journey continues

Alex

Thinking about this all the time . I think Im beginning to spot these areas. I feel now is a good place to find buy orders on Eur and Gbp. Seems like accumulating<---still learning to spot these though. Probably still lots of dollar bulls around....

Hi Alex

no keen on footy myself, but even less keen on corry that i am being subjected too.....lol .. never mind the beers cold... happy wife/happy life ect..

regards

Phil.

I Have! I was inspired by it. It put a lot of things into perspective for me. After listening to that and then looking and comparing them to my life experiences, I find it to be very true.


Thanks to you and others here who have given their time and energy to post and share your experiences and insights


Cheers to you phil ! and alex too! enjoy your weekend

Eyeballing the Euro right now. just watching...

Seems in line with my views in post 92. Its showing higher lows but seems the bears are defending that area with the blue lines (double top).
After watching the 5m the other day i realized something...I was watching the pa develop around a resistance level and price kept breaking above it then pushed below it on the same candle. this happened for several candles before price broke the resistance and shot upwards past the resistance level. What it felt like to me is that everytime price was pushed up it triggered sell orders. Price kept getting pushed up then triggering the sell orders to push it back down. This made me think...the more price moves to a level and rejects off of it, then revisits and rejects again,the more likely stops get clustered there. As stated earlier in this thread, stops are great for triggering runs.



In the picture Ive shown, price has rejected off the same level(blue lines) twice. Seems possible that the first time price rejected off of that area people got short and may have placed tight stops. then second time same thing...creating a cluster of them. What will happen when price revisits these levels?

This led me to think about the current terrain and the advantages of going long... The lows are staggered leaving different levels where stops may be as opposed to one level where they are clustered. This would make it harder to trigger all those stop losses creating a run going south.

On the other hand, although i believe there are signs the market may be in reversal mode, the trend is still south in which being a bear would have the wind at your back.

Just thinking out loud. Not sure if im right or not in my thinking. Time to watch and learn.

anyways....
Just Flow, be nimble, and manage positions the best you can.