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Journey to consistency

  • #1,781
  • Dec 21, 2018 2:11am Dec 21, 2018 2:11am
Now I should wait.

we have 530 at the bottom which might send price climbing up higher OR there's 573 up on top.
let's see which one it responds, or if I can see it at all....
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  • #1,782
  • Dec 21, 2018 2:28am Dec 21, 2018 2:28am
557 R already acting as a resistance on 5m might go down from here another leg....
I'm not sure if I want to take it through.
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  • #1,783
  • Dec 21, 2018 2:36am Dec 21, 2018 2:36am
551 minor S on 5m 30min R broke ....
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  • #1,784
  • Dec 21, 2018 2:39am Dec 21, 2018 2:39am
551... although 30min R broke 557 it is finding support on 5m previous R maybe aiming at 573 retest ?
but I think I should follow the bigger TF according to 30min I should sell it from 557...its strange.
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  • #1,785
  • Dec 21, 2018 2:52am Dec 21, 2018 2:52am
sell for me atleast for now.. but the pin bar scars me.
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on a postive roll...
  • #1,786
  • Dec 21, 2018 2:58am Dec 21, 2018 2:58am
overall net total for today 34.

its becoming very complicated now too many levels to tend to bears are clearly having a hard time pushing it below 536 and to 530 bulls are fighting back, I decided to call it a day here I'm not fighting the bulls.
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  • #1,787
  • Dec 21, 2018 3:01am Dec 21, 2018 3:01am
553 retest on 5m not enough to send it down ?
bears are surely having a very difficult time!!
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  • #1,788
  • Dec 21, 2018 3:02am Dec 21, 2018 3:02am
Quoting Rmg
sell for me atleast for now.. but the pin bar scars me. {image}
I can feel the fight of the bulls .... although its very bearish 530,538 can send price going higher not necessarily an up trend but a temporary PB to a higher level for a retest.

However in all fairness on 30 it still do look bearish.
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  • #1,789
  • Dec 21, 2018 3:17am Dec 21, 2018 3:17am
There's two more days left until the year ends.

And DEC is the first month where I had winners to losers ratio of 50/50% on this live acc since Feb'18 where as every month except for DEC I've had more losers (much more) than winners up until this point.

Cheers to that !

I'll trade on the last two days of DEC and will be back on Jan and hopefully next year I can improve my stats and my understanding of price movement.
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  • #1,790
  • Dec 27, 2018 2:57am Dec 27, 2018 2:57am
Except for that -10.6 gamble trade where I tried to intentionally go against the tide a loser...... -4.6 was a sell timing was correct but i somehow managed to close it at a loss. And the main dish for the day 5min prior London open trade closed again prematurely it went about 35pips seems to be the usual range for 1 leg down. And the last two bits well they were a retest back to 634 I knew this was a good trade because it rested upon higher support but again I wasn't really sure of myself.

See this is going to get a while to get used to, to trade comfortably and to trade with confidence I won't try to rush anything (profit) especially I'll try my best to take it easy focusing mostly on progress and my ability to read price movement rather than the other half of the equation or the by product -> profit.

Albeit the modest gain I think I've done well for today overall, I keep learning new things about price movement every single day (almost) without fail. And I'm thankful for everything it has taught and many more lessons it continues to teach.

I feel like I'm getting "so close" to getting this...... I'll be staring at charts for the next 1h and call it a day be back tomorrow for 1 more trade.
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  • #1,791
  • Dec 28, 2018 3:19am Dec 28, 2018 3:19am
-25.5pips
what a day its been.

I was a little from the beginning of Frankfurt session tried going short..... after 3 failed attempts and minor losers upon London I turned long... however out of these longs the losers started getting bigger despite opening trade in the right direction my timing was off.... from what I can see I do relatively well with short trades just because I did have more practice I think than longs.

And one major setback of mine is support and resistance, I'm learning how to properly use this dynamic today as usual I've had lots of lesson and I'm seeing new side to price movement, so I'm not too bummed out on not reaching my goal and ending today on a positive pip.

This will do for now and back to some more starting and analyzing for another hour.
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  • #1,792
  • Jan 2, 2019 2:26am Jan 2, 2019 2:26am
Overall positive day.

I did hold the last trade for a while a lot longer than I usually do...... I'm getting better at holding trades longer but could I have done better ? absolutely, however I don't want to be too greedy as long as there's a progress at least for Jan I'm content, for Jan I'd like to end the month at least in some kind of profit however small that is.

I doubt I'll trade no more today but I'll be doing some more studying for the remaining two hours.
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  • #1,793
  • Jan 3, 2019 3:02am Jan 3, 2019 3:02am
didn't go against the tide.
no loser.

I tried my best to understand what was happening could have done better as always but it's all about progress and not beating myself down for making mistakes.

my entries were really good at least according to my current understanding of price movement but maybe in a week or more I know I'll unravel new bits and realize that my perspective was not complete but again it's all about making progress, not in terms of how much I can make or going to make but can I see everything ? do I understand why price moves one way or another or where its headed and finding the perfect timing , exits and dealing with uncertainties so as far as these considered I'm satisfied with my performance for today except for exit well I'm going to start beating myself up for it that was a twenty pip move I didn't take advantage of and as of lately as I'm realizing I seriously needed much improvement on support and resistance dynamic !! well I'm getting better at everything peak and trough reading S&R and MA's role in all of these except for multi time frame.

but I might just stay here and observe price movement for another hour.

calling it a day here.
I hope to keep this progress going forward!
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  • #1,794
  • Jan 4, 2019 3:08am Jan 4, 2019 3:08am
Overall positive day... but it has been very challenging morning.

I did go against the tide 4 long trades!!! all ended up being a loser, I wasn't as sure about this one as yesterday when you're in confusion things can go pretty bad pretty fast. At one realized that I was in the gambling mode I no longer was looking at price movement and I simply wanted to make back the pips I had lost but as soon as I became aware of that setting I quickly stopped myself and looked at price movement and tried to make sense of where it was headed and what it was doing and I did eventually see that it was headed down and quickly realized where I had gone wrong.

Just a month ago I couldn't stop myself from going into the gamble mode. So that's an improvement but I guess as you keep unraveling more about price movement and as you start to really see what's happening rather than just going blindly by indicators or your own belief these things take care of themselves.
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  • #1,795
  • Jan 7, 2019 1:32am Jan 7, 2019 1:32am
I'm just going to accept the fact that I may never fully understand price movement , its just one of these professions where you'll always feel like you need to know more that what you know is never enough.

I'll embrace that "never enough" fully from now on. It isn't something that I have control over anyway. I resisted the very idea for so many years and it brought that much suffering.

But what I have control over is my quest for more knowledge I want to keep on this passion to always get better, outdo the previous session not in terms of pips but more or so my understanding of price movement.
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  • #1,796
  • Jan 7, 2019 3:20am Jan 7, 2019 3:20am
The outcome of the next trade is not known or cannot be known. We need to come into the terms with it.


http://www.eminiplayer.com/2009/06/l...rader.html?m=1
on a postive roll...
  • #1,797
  • Edited 5:20am Jan 7, 2019 3:51am | Edited 5:20am
-30pips -16pips for today I only had 1 good trade the rest have been all losers.
I need to examine why I couldn't see that it was going down, on friday I did have the same problem it went up but I couldn't see it.

Again work in progress, so as long as I learn something from this loss.
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  • #1,798
  • Jan 8, 2019 9:13pm Jan 8, 2019 9:13pm
yd DAX had a pretty good bull run up and I lost -108pips, I had a good gambling mode on. I knew at some point after 30minus points I was slowly slipping into a danger zone but maybe it was lack of sleep or lack of discipline (probably both) on my part add up lack of knowledge you get the gist this is the aftermath.

Its not all gloom and doom we're still very early into the month. And I know I need to step up my game whatever happened to me making my analysis on 30min and entering from 5m. I need to get back on that. It's like as you chase price and aim for profit this is what happens. And I'm not in any position to keep this kind of mentality going forward I'm almost on year 5 maybe 5months short, so that's the milestone if I can reach some kind of consistency by then, if not then I probably should keep this as a part time endeavor.

Enough the ramble, but I needed some reflection and some things to just get it out there.

Back to work, I've been analyzing 30min chart since the early AM, and time and time again usually whenever I have a really bad session I'm yet again ! reminded that I must have a plan in place before I open any trade!!! I've been trying to hard to just follow along, but that's just not going to cut it you need a compass in this game. This is no feel and sing kind of business. That's been my biggest hurdle.

So what have I found on 30min I'm just going to talk through briefly what had happened yesterday. Yd 736 broke late during NY session the previous day as London opened tested as a retest later during London upper R breaks 751 the main I was looking at was at 809 price did retreat back from 809 but later found support on 751 retest, I think I do understand why that happened. Then later in the afternoon 809 broke NY opened 809 had a retest.

And now back to today 809 had a retest I see 820 I couldn't call it a retest yet now for bulls the trouble is 851 R, now I'm thinking if it were to really go up since 809 already had a retest I'm not too keen on that pattern though it does look like a retest of a previous support now turned resistance somehow 851 needs to break up and goes for a retest OR 829 could get a retest and price could just break up through 851.

But if I had to pick a side I'd have to go with bears on this one provided that 834 breaks and 851 holds.
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  • #1,799
  • Jan 8, 2019 10:03pm Jan 8, 2019 10:03pm
main levels of interest for today's session.

Resistance 854
Support 1 837
Support 2 821
Support 3 805

And then the next support is at around 781.

I'll be a bear, but first off 854 needs to hold then 837 should break followed by 821, 805.
I might enter 1 position by the break of 837 and see how it goes but usually as Frankfurt gets going things should become somewhat clearer

I just had a glance over at 1h chart this looks very much like a retracement wave, the main peak is at I want to say 736 but 781 could also be the one, I can't get away from this peak and trough reading and support and resistance.
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  • #1,800
  • Jan 9, 2019 2:45am Jan 9, 2019 2:45am
Quoting Piquant
main levels of interest for today's session. Resistance 854 Support 1 837 Support 2 821 Support 3 805 And then the next support is at around 781. I'll be a bear, but first off 854 needs to hold then 837 should break followed by 821, 805. I might enter 1 position by the break of 837 and see how it goes but usually as Frankfurt gets going things should become somewhat clearer I just had a glance over at 1h chart this looks very much like a retracement wave, the main peak is at I want to say 736 but 781 could also be the one, I can't get away from...
Having a flexible mindset is a must for day traders also having a bias is expensive, let the market show its intentions on the time frame we trade then react.
just ranting.
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on a postive roll...
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