My VSA journal

Saw Cable move up, then begin a series of tests on reduced volume. On the third one, when the volume was really low, I entered long, expecting a short trip up. Accidentally got into a 60 pip move in 10 minutes. Not going to complain, but I wish it had more to do with skill than luck. I guess recognizing the strength and being decisive while entering was skill. I took some hella profit off the table and will let the rest run. If I have a chance to reenter on a high probability setup (still working on identifying those) then I may add to my position, but I will not risk more than I have made on the trade so far if I do.

Dat bar doe. So I have decided that this will be my last Entry on this public journal. I will be swapping to something more private so I may look at this later and maybe share the real important bits with people later. But these entries are rather bulky and talky. And in that spirit, I will share the most important things I've learned so far.

The absolute most important thing that I learned was supply and demand. I mean getting a really deep understanding of how it affects the markets. Beyond that, get a trading system to enter and exit. A trading plan. When to enter, when to exit in profit or as loss. That plan should define when to cut losses, and how to ensure that you can let your winners run when it's a runaway trade and when to exit from that as well. If you understand supply and demand, truly understand it, the only thing you will need to do is define how to enter those trades with maximum profit without sacrificing your chances of winning. Enter too early and the odds of a win are against you, enter too late and you will be buying the top/selling the bottom of the current swing.

The chart shows the Euro Cable 5 minute and will be the last one I analyze. This will absolutely revisit that low. They'll talk about French riots on down swings and Brexit on upswings, but in the end, volume tells us where price is going to actually go. And for the moment, it says down. And considering how clumsy this move was, I have a feeling the move will be sooner rather than later. They tend to like to range long enough for everyone to forget that giant ass move so they don't correlate them together. Euro and Swissy are releasing the most important currency news tonight. I wonder if this is indication that it's going to be bad.

As I've written this, the price has started to climb ever so slowly. I guess we'll see. Maybe they'll push price down before the news and generate a bunch of sell orders from retail guys prior to the real news reaction that might end up positive. IDK we'll have to see. But we will see a 40 pip fall from here. That much I know.

They tried to shake me out. I just held on while they thrashed about. Why can't all trades be so accommodating? XD

Tom Williams said, once you learn the logic of the markets, they become your best friend. I'm getting acquainted and I think I like where this relationship is heading...



Anyhow, good luck trading, guys! I'll still be around here causing trouble. XD