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Gejordan Weekly Journal

  • #901
  • Nov 6, 2018 5:23am Nov 6, 2018 5:23am
Quoting nyjetfan
{quote} Hey Tadeusz - How have things been going for you?
Hi ny,

I'm still battling along trying to be consistent. I started the year okay with my equity curve heading up for the first 4 months. I wasn't taking many trades though, and this led to me to try more trades in May and June which went badly. I was away in July so I wanted to reset in August and get back to what I was doing at the start of the year. I've been floating around break even since, one month up a little, the next down a little.
  • #902
  • Nov 29, 2018 10:18pm Nov 29, 2018 10:18pm
Quoting nyjetfan
Wow, things have been quiet since July. Is anyone still around working through the GE methods any longer?
Hey, Jet... got your message. I'm still around, I just don't really post any more cause I feel like I've offered my two cents. Feel free to use the space and show us what you are doing. I'll comment if I have something useful to add.
Be bullish on you.
  • #903
  • Nov 29, 2018 10:19pm Nov 29, 2018 10:19pm
Quoting Tadeusz
{quote} Hi ny, I'm still battling along trying to be consistent. I started the year okay with my equity curve heading up for the first 4 months. I wasn't taking many trades though, and this led to me to try more trades in May and June which went badly. I was away in July so I wanted to reset in August and get back to what I was doing at the start of the year. I've been floating around break even since, one month up a little, the next down a little.
You have all the knowledge and capacity to do this successfully. Don't get in your own way.
Be bullish on you.
  • #904
  • Nov 30, 2018 7:21am Nov 30, 2018 7:21am
Quoting gejordan
{quote} Hey, Jet... got your message. I'm still around, I just don't really post any more cause I feel like I've offered my two cents. Feel free to use the space and show us what you are doing. I'll comment if I have something useful to add.
Thanks GE - Been doing demo the last month just to restore familiarity with the markets and order platforms, and plan next week to lead into "live demo" (ie micro lots risking a fraction of a percent of account balance by using smallest pip sizes available). Will start posting some stuff here as I see them, but really focusing on patience and longer timeframes at this point (dailies/weeklies) as I don't always have time to watch the charts for the short TF (15 min or 1 hour) action.

Glad to hear from you, hope everyone is still doing well.
  • #905
  • Dec 6, 2018 4:22pm Dec 6, 2018 4:22pm
Couple of daily charts I'm looking at today.

NZDCAD has pin shaped bar being rejected by a monthly SR line I have on the chart (magenta line). This would be one that trade with a SL above the wick of the most recent bar, and TP1 would probably be near the open of the large bullish bar (two bars to left of red pin). Ideally would like to get a retrace up at/near the magenta line to reduce risk and see if we can then get a push downwards.

The USDCAD chart has a pin bar showing as well, although there's not an SR line there so not something I'd trade at this point (in addition to the bullish close of the candle). It does seem to have closed just below the highs from the candle wicks in June which adds potental confluence, however the last 2 bars have closed above the high close of the June candles.

Will watch these two and see how the action plays out from here. Anyone have any other trades they are considering at this point? Typically don't have time during the day to watch the lower TF, so will focus more on daily/weekly for the near future and only trade when there is action at a line that I had pre-drawn. I know I could probably "fit" a line on the USDCAD by looking at some historical price movements, but going to have my rules be where I only trade lines that were in existence before the price action (ie something that stood out despite no action, as opposed to trying to find something to "support" a potential trade setup).

Hope everyone is doing well and feel free to provide any comments/feedback on the charts below.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NZDCADDaily.png Size: 25 KB
Click to Enlarge Name: USDCADDaily.png Size: 31 KB
  • #906
  • Dec 6, 2018 9:25pm Dec 6, 2018 9:25pm
Quoting nyjetfan
Couple of daily charts I'm looking at today. NZDCAD has pin shaped bar being rejected by a monthly SR line I have on the chart (magenta line). This would be one that trade with a SL above the wick of the most recent bar, and TP1 would probably be near the open of the large bullish bar (two bars to left of red pin). Ideally would like to get a retrace up at/near the magenta line to reduce risk and see if we can then get a push downwards. The USDCAD chart has a pin bar showing as well, although there's not an SR line there so not something I'd trade...
Let's have some fun Jet. I'll call this old principles (prepare chart) and old indicators (default RSI) for old people (we won't comment on who the old people are). Been looking to do something fun and different. And since I have basically taught everything I know in previous threads and earlier in this one, my time to have some fun.

NZDCAD, I like the short idea, but cautiously. Nov. 29th we had an RSI of 73.74, so I'll wait and enter on a daily close of RSI below that number. Or, if price goes higher the next day or so, I'll use the RSI from yesterday. I also like your idea, some old time Gejordan, low risk entering from places you like.

No USDCAD, for primary reason you mentioned, not at a pre-prepared area.
Be bullish on you.
  • #907
  • Dec 7, 2018 7:37am Dec 7, 2018 7:37am
Quoting nyjetfan
Couple of daily charts I'm looking at today. NZDCAD has pin shaped bar being rejected by a monthly SR line I have on the chart (magenta line). This would be one that trade with a SL above the wick of the most recent bar, and TP1 would probably be near the open of the large bullish bar (two bars to left of red pin). Ideally would like to get a retrace up at/near the magenta line to reduce risk and see if we can then get a push downwards. The USDCAD chart has a pin bar showing as well, although there's not an SR line there so not something I'd trade...
Looks like you got your entry, about 35 pips of risk or so and now 60 or so pips to the good. Not a bad return to looking at the charts.
Be bullish on you.
  • #908
  • Dec 7, 2018 7:44am Dec 7, 2018 7:44am
Quoting gejordan
{quote} . I also like your idea, some old time Gejordan, low risk entering from places you like. .
So not sure where the RSI came from, as I don't remember that in all the past teachings but at times I'm feeling the "old people" remark. Just wanted to put up the chart for NZDCAD as of this morning - this is a 15 minute chart, just showing how the level was respected - this would still be a daily trade (ie managed off the daily, just easier to see price reacting to the resistance level). Ideally things will push south from here, however as with everything else there's no guarantees, so we find opportunities of high probability and minimize the risk.

I can reflect just on the two charts above and see some changes. I have recently done some reading of Tony Robbins Awaken the Giant and there's a quote in there that broke trading down quite well for me:

Knowing what to do is not enough, you must do what you know.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDCADM15.png Size: 32 KB
  • #909
  • Dec 7, 2018 8:13am Dec 7, 2018 8:13am
Quoting nyjetfan
{quote} So not sure where the RSI came from, as I don't remember that in all the past teachings but at times I'm feeling the "old people" remark. Just wanted to put up the chart for NZDCAD as of this morning - this is a 15 minute chart, just showing how the level was respected - this would still be a daily trade (ie managed off the daily, just easier to see price reacting to the resistance level). Ideally things will push south from here, however as with everything else there's no guarantees, so we find opportunities of high probability and minimize...
I'm hoping you took the trade? If so, you are probably outperforming the S&P or darn close. Celebrate.

RSI - I picked it randomly. Like I said, I'm gonna have some fun (and we'll see if I can maybe illustrate a point I have made in the past many times). You just keep doing what you did with that NZDCAD and I'm gonna follow along, too, making some other points.

And I'm including myself in the old people.
Be bullish on you.
  • #910
  • Edited 8:42am Dec 7, 2018 8:22am | Edited 8:42am
Quoting gejordan
{quote} I'm hoping you took the trade?
Yes, I'm in it with two small lots (I think I'm risking a total of ~0.25%), however this is stil my "live demo" period. I find that having real money (even if its a buck or two) makes it easier to hold myself accountable, and it helps me keep my history available, as I've had many times a demo account will close/expire/etc midway through a demo period so I don't have the historic data (and with live account there's no way to change it).

Will probably move the stop at/near BE later today, as at this point a return to the 9220 range could be the start of another push higher, but will see how the trade plays out over the rest of today.

Update:
Just hit TP1, and moved SL to BE on lot #2. Will watch and observe as I have a free trade from this point forward.
  • #911
  • Dec 7, 2018 9:48am Dec 7, 2018 9:48am
Quoting nyjetfan
{quote} Yes, I'm in it with two small lots (I think I'm risking a total of ~0.25%), however this is stil my "live demo" period. I find that having real money (even if its a buck or two) makes it easier to hold myself accountable, and it helps me keep my history available, as I've had many times a demo account will close/expire/etc midway through a demo period so I don't have the historic data (and with live account there's no way to change it). Will probably move the stop at/near BE later today, as at this point a return to the 9220 range could...
Awesome. Anyone that accidentally finds themselves in here, what Jet did is very simple.... He prepared a chart, waited for price action at the prepared place, let it retrace, and took the trade. Kept the risk small! It might have meant missing the trade, but this one retraced and is working out nicely.

Wow, how many times have I typed that over the years.
Be bullish on you.
  • #912
  • Dec 7, 2018 5:04pm Dec 7, 2018 5:04pm
Quoting gejordan
{quote} Wow, how many times have I typed that over the years.
I’ve only read it once, but you know us old people - the mind/memory is the first to go.

Will spend some time this weekend reviewing the Friday and weekly candles to see if there’s anything of interest going into next week.
  • #913
  • Dec 9, 2018 2:17pm Dec 9, 2018 2:17pm
Having computer hardware issues on my trading laptop so have to get those sorted before I can get back at my charts. Guess it’s a good time to look at a backup platform machine as trading on my phone is t really workable, although I can manage the trade via phone.
  • #914
  • Edited 6:05am Dec 10, 2018 5:54am | Edited 6:05am
Us old folk don't take kindly to you yung'ens making fun.....

Inserted Video
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GE Old Boy Trade 2.png Size: 757 KB
Click to Enlarge Name: GE Old Boy Trade 1.png Size: 856 KB
It's a dirty job but someone's gotta do it!
  • #915
  • Dec 10, 2018 9:54am Dec 10, 2018 9:54am
My NZDCAD was taken out earlier today at BE on the second lot.
  • #916
  • Dec 16, 2018 1:41pm Dec 16, 2018 1:41pm
Quoting gejordan
{quote} I'm hoping you took the trade? If so, you are probably outperforming the S&P or darn close. Celebrate. RSI - I picked it randomly. Like I said, I'm gonna have some fun (and we'll see if I can maybe illustrate a point I have made in the past many times). You just keep doing what you did with that NZDCAD and I'm gonna follow along, too, making some other points. And I'm including myself in the old people.
So looking at the trade, I can see that I was on the earlier side of things on Thursday, although it did pay TP1 and BE. I was out of town and no trading computer for most of last week, so didn't get a chance to take a second (almost identical) entry after the pin bar Tuesday night, which would have yielded at least another TP1 with the second still running.

Still see this as a positive as finding the levels and seeing the entries is the first step to solid execution. Nothing happening at any of my lines at this point, so will watch as things develop during this week, although it could start being a bit slow with the holidays.
  • #917
  • Dec 16, 2018 3:59pm Dec 16, 2018 3:59pm
Quoting nyjetfan
{quote} So looking at the trade, I can see that I was on the earlier side of things on Thursday, although it did pay TP1 and BE. I was out of town and no trading computer for most of last week, so didn't get a chance to take a second (almost identical) entry after the pin bar Tuesday night, which would have yielded at least another TP1 with the second still running. Still see this as a positive as finding the levels and seeing the entries is the first step to solid execution. Nothing happening at any of my lines at this point, so will watch as things...
We aren't trying to be perfect, just repeatable and profitable. You were profitable on this one, now be repeatable.
Be bullish on you.
  • #918
  • Dec 16, 2018 4:37pm Dec 16, 2018 4:37pm
Quoting nyjetfan
{quote} So looking at the trade, I can see that I was on the earlier side of things on Thursday, although it did pay TP1 and BE. I was out of town and no trading computer for most of last week, so didn't get a chance to take a second (almost identical) entry after the pin bar Tuesday night, which would have yielded at least another TP1 with the second still running. Still see this as a positive as finding the levels and seeing the entries is the first step to solid execution. Nothing happening at any of my lines at this point, so will watch as things...
Attached Image

I watched a video the other day where some guy was saying RSI is the worst indicator on earth for FOREX. So, I wanted to use it to illustrate a point that I have been making for years on here. Jet coming back and giving it another go gives me the opportunity to make it again.

The importance of Preparing the Chart.

It's the first thing Jet did and it immediately improved his odds of success. Jet identified what he thought was going to be a good area to trade from. He waited for price to arrive there and then gave it a go. This one worked out. He had a bearish price action at a good place, allowed it to retrace and took the entry. That is the most basic way I trade. Doing this both defines and reduces risk over the long term. We both hit a TP1 and BE.

But using this concept improves any method of trading. I illustrated this by telling him I would take an RSI based trade using criteria I stated in post 906 and visually represented above with the line going below the red arrow and shown at Point #1 on the picture. (as an aside, we also had divergence).

As you can see I took an immediate entry at the end of that day and then placed two retrace entries, one of which was hit and the top one barely missed.

In summary, prepare your charts so you can define good places to trade from and define your risk. There are endless ways to prepare a chart, but by consistently doing this I bet you will immediately see improvement in your trading. Even if you use the "worst indicator in Forex".
Be bullish on you.
  • #919
  • Dec 18, 2018 5:11pm Dec 18, 2018 5:11pm
Quoting gejordan
{quote} {image} I watched a video the other day where some guy was saying RSI is the worst indicator on earth for FOREX.
I just have to ask - how much did he want to share the best indicator on earth for forex? Or did he have a whiz bang system that allowed you to “profit” while you sleep (and he laughs all the way to the bank)?
  • #920
  • Edited 4:07pm Dec 19, 2018 3:26pm | Edited 4:07pm
Two charts of interest today.

AUDCAD - We have a bearish engulfing bar today, which is going through a line I had previously drawn, so in regard to that its at a place of interest. However the recent traffic has been pretty much ignoring this line and its almost as if that is the midpoint of a recent channel that price has been in which I've depicted with the rectangle drawn on the chart. With the way price has been moving through this line and how the recent box has formed, it almost looks like this would be either trading towards the edge. ideally I'd like to see this push away a little bit and come back up to the line and give another bearish signal at that point or even get up to the pink line with action for a short. At this point I'd pass on that one.

USDJPY - Giving bullish pin located in a good spot, and can see that price has respected this line in the past. Would be looking for longs from here, although looking to get to BE reasonably quickly as the last pushes since breaking through the pink line around the end of October have shown lower highs in each case. *** EDIT - see next post #921 as this changed some ***

Note: These charts are from about 4:20 so I still have 40 minutes until the candle closes, but don't expect any drastic change to the look of the chart, but will revisit at close and make a final determination on course of action at that point.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPY121918.png Size: 40 KB
Click to Enlarge Name: AUDCAD121918.png Size: 39 KB
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