Sunny Coasting Along | Forex Factory

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Sunny Coasting Along

  • #1
  • First Post: Mar 16, 2019 1:31am Mar 16, 2019 1:31am
This will be a place for a simple collection of some of the posts and learnings I've made since I started FX from February 2019 onwards.
Empty your mind and let the market guide you
  • #2
  • Mar 16, 2019 1:38am Mar 16, 2019 1:38am
Quoting SunnyCoast
Hello. I'm fairly new to Forex and have just joined Forex Factory after reading many of the "How To" posts over the past month. I like this Trading System so I would like to follow this thread. I'll learn how to post charts from my Demo Account, etc and see if anybody here would like to discuss and/or reflect on trades taken using this system.
This was my first post on FF on Feb 19th, 2019.

I stumbled on the thread SIMPLE RSI & EMA high Profitable ratio Strategy.

It seemed easy enough to understand what was going on and it helped me learn about MT4 with indicators and entering and exiting a trade.

I lost all of my first 5 trades and I even tried to post the screenshots but for whatever reason, my post didn't make it through moderation as I was still under their watchful eye.

I lasted a whole day in that thread!!

I was trying to watch all the pairs' charts at every H4 close as per the trading method and was exhausted after just 24 hours.

There was no way I could feel that it could work for me!!
Empty your mind and let the market guide you
  • #3
  • Mar 16, 2019 1:45am Mar 16, 2019 1:45am
Quoting SunnyCoast
Hello. I'm super new to Forex and FF so this is a big learning curve. (Although not new to life and the politics of online forums, etc) Just trying to get my head around this way of looking at the market. Is this what you are looking for? I've read the 1st Post and the PDF that another member made.
https://www.forexfactory.com/attachm...1&d=1550610684

So the very next day I jumped to another thread after a random search of "trending" threads.
This thread was titled, "High Level Accuracy Method With Little To NO Draw-down".

The title definitely brought me in as I was learning about my trading stats and I could see that I needed to improve my winning accuracy after a string of losing trades.

The trades seemed easy enough to find because you just had to look for one type of pattern and then wait for the entry to occur.
I especially liked how there really wasn't much to think about, obviously because I was a beginner.
Empty your mind and let the market guide you
  • #4
  • Mar 16, 2019 2:28am Mar 16, 2019 2:28am
On this thread I encountered my first group of "helpful" traders who were willing to answer my beginner questions.

Quoting NevFX
{quote} {image} Hopefully the chart shows you how I build up my bias. You have to decide whether you think the market is Bullish or Bearish. You can look to the data released by Australia or Switzerland. You can do it all by looking at a chart if you are not into fundamentals. Best of all you combine the two. However, you need to decide if you are a bull or a bear. Then the key is to look for areas on the chart which would confirm your bias. For me the AUDCHF is bearish and I have labeled how I interpret the recent price action. When I have marked...
https://www.forexfactory.com/attachm...1&d=1550739759
NevFx and Firefox especially.

Quoting Freefox
{quote} here's charts for live trade I promised earlier. Bit stubborn at moment, not wanting to drop. {image} {image}
https://www.forexfactory.com/attachm...1&d=1550748603
https://www.forexfactory.com/attachm...1&d=1550748609
Empty your mind and let the market guide you
  • #5
  • Mar 16, 2019 2:34am Mar 16, 2019 2:34am
Then on just my 3rd day at FF I found George's "Price Action at the core / tma intra day thread.

Even just reading the first few pages I could see this was quite a different way of viewing the FX markets and trading in general.

I've only traded this method since and have been trading one pair only.
Empty your mind and let the market guide you
  • #6
  • Mar 16, 2019 3:52am Mar 16, 2019 3:52am
Here are my results for the first week.
I'm still unsure of the definitions of all the different metrics, but I will learn as I go.
I can see my average profit per trade is less than my average loss so I can do much better there for sure.

Attached Image (click to enlarge)
Click to Enlarge Name: Results for Week Ending March 9th.png Size: 32 KB
Empty your mind and let the market guide you
  • #7
  • Mar 16, 2019 3:53am Mar 16, 2019 3:53am
As I did last week I'd just like to post my End of Week Results here.

All trades were taken on GBP JPY and all were based on my interpretation of George's teachings in this thread.

I'm only able to trade between mid London and start of NY session.

Thank you again George for providing all the information so far in this thread and thanks to me for taking the time to read from Page 1!!!

Attached Image (click to enlarge)
Click to Enlarge Name: Week Ended 15032019.png Size: 26 KB
Empty your mind and let the market guide you
  • #8
  • Mar 16, 2019 4:00am Mar 16, 2019 4:00am
I'm still going through all of George's and other member's posts and making notes etc.

However, the way that the thread has been periodically targetted by certain members and the things, especially one member, was posting just made me feel sick.

I understand that this can be a brutal hobby/vocation to follow and it would certainly chew through many souls, leaving them bitter, frustrated and downtrodden, but in my view of the world there is no excuse for that level of nastiness if you haven't got the courage to speak those words directly in front of a particular person's face.

Therefore, I am now over here, in my own little corner of FF and shall do my best to journal my thoughts and learnings as I go.
Empty your mind and let the market guide you
  • #9
  • Mar 16, 2019 1:40pm Mar 16, 2019 1:40pm
Hey SunnyCoast! Good to see you here! I've decided to document my "homework" from George using a Journal.

Nice work, keep it up!

See you in the main thread!
"When the facts change, I change my mind"
  • #10
  • Mar 16, 2019 2:45pm Mar 16, 2019 2:45pm
Good Luck with your journal Sunny.

I wish you all the best !

Cheers
Blue
Master your Mind,,,Master the Market
  • #11
  • Mar 16, 2019 3:56pm Mar 16, 2019 3:56pm
Quoting amundo
Hey SunnyCoast! Good to see you here! I've decided to document my "homework" from George using a Journal. Nice work, keep it up! See you in the main thread!
Hi Amundo,

Thanks for stopping by.

I will be over to your journal from time to time to see how you are going.

Cheers.
Empty your mind and let the market guide you
  • #12
  • Mar 16, 2019 3:59pm Mar 16, 2019 3:59pm
Quoting bluesteele
Good Luck with your journal Sunny. I wish you all the best ! Cheers Blue
Hi Blue!!

You weren't supposed to find my journal until I gave you some props!!
I checked out Tradeview of course and it is like trading on steroids compared to MT4.

It gave me info overload!
Empty your mind and let the market guide you
  • #13
  • Mar 16, 2019 4:55pm Mar 16, 2019 4:55pm
Quoting bluesteele
{quote} Hi Sunny.. MT4 is great for learning..And many traders once realizing limitations with MT4 tend to gravitate to other platforms.. Tradingview is what i use. I would highy recommend using it.. Its cloiud/web based. Your machine crashes with mt4 you lose all data. Tradingview has live support...MT4 zero support. (if your in business and not monkeying around this is very important.) If your into indicators !! TV will blow you away.. I love the fact that it has built in tester... Easy to use.. I trade higher TF... M/W/D/4 Now on MT4 i used to...
This was a very helpful post for me as I thought that MT4 was the only FX platform out there before this.
It is just another reminder to keep my mind open in this essential beginning stage.
Empty your mind and let the market guide you
  • #14
  • Mar 16, 2019 4:59pm Mar 16, 2019 4:59pm
Quoting ozziedave
{quote} Hey Sunny First off that may not be the best time of the day to enter a trade as it's heading into the new day and the Asian range. Also it appears that you were up like 20 pips before the lift off north. I am not sure why you wouldn't have taken those pips off the table or at least protected your winning position with a break even stop loss. For me, I am not looking to hit a 50, 70 or 100 pip run with every trade entry. I just don't believe that is a reasonable expectation to have as a day trader as you will watch many positive trades turn...
Thanks Ozziedave for this one. Ever since this post I changed up my individual trade targets to be more focused on what the price action is telling me and focused on much shorter targets which has done wonders for my "during" trade psychology.
Empty your mind and let the market guide you
  • #15
  • Mar 16, 2019 5:00pm Mar 16, 2019 5:00pm
I really liked this post from George who was trying to note down just some of the things that are flowing through his brain as he is monitoring the markets.

WHAT IS THE DAILY RANGE OF THE PAIR GEORGE IS TRADING ,,,,
WHICH SESSION AM I TRADING IN ,,,, HOW MANY SESSIONS LEFT FOR THE DAY ,,,,
WHAT PART OF THE SESSION AM I IN AT THAT TIME ,,,,
HOW MANY PIPS ON THE TABLE FOR THE DAY SO FAR ,,,
HOW MANY PIPS ON THE TABLE FOR THAT SESSION ,,,
HOW MANY PIPS ON THE TABLE FROM THE OPENING BAR OF LONDON ,,,,, I LOOK FOR SET NUMBER OF PIPS ,,,,
WHAT IS THE MOMENTUM FEEL ON THE H4 ,,,
WHAT IS THE MOMENTUM FEEL ON THE H1
WHAT IS THE MOMENTUM FEEL ON THE M15 ,,,
ARE THEY ALL CORRELATED IN THEIR MOMENTUM ,,,,
DO WE HAVE A CONTRADICTION OF MOMENTUM BETWEEN THE H1 AND H4 ,,,,
WHAT IS ON THE TABLE ,,, IN THE WAY PRICE IN BALANCE WITH TIME ,,,,
WHAT PRICE STATION AM I AT ,,, FROM THE SET STATIONS I HAVE FOR EACH PAIR ,,, IN ANTICIPATION FOR A RETRACEMENT ,,,
WHERE IS THE PRICE IN RELATION TO THE TARGET WE ARE APPROACHING ,,,
HAS THE TARGET BEEN TAKEN OUT ,,,
HOW FAR IS THE NEXT TARGET ,,,
WHAT TIME OF THE DAY WHEN A TARGET IS REACHED ,,,,,
WHERE IS THE PRICE ON THE 1 MINUTE CHART IN RELATION TO THE TMA PRESSURE ZONE ,, AND ,,, WHICH MINI ZONE ,,,,
WILL IT FIT INTO THE TOTAL RANGE FOR THE DAY,, IN RELATION TO THE SESSION WE ARE IN ,, AND THE NUMBER OF SESSIONS TO COME YET FOR THE DAY ,,, IF THE PRICE WAS TO CONTINUE TO IT WITHOUT A RETRACEMENT ,,,,
HOW MANY HOURLY BARS DO WE HAVE IN THAT SWING CONTINUOUS ,,,
HOW MANY PIPS EACH BAR HAS ,, AND THEIR RELATIONSHIP OF THE ,,, TOTAL PIPS FOR THE H4 BAR ,,,,
SAME APPLIES TO THE 15 MNT ,, AND THEIR RELATIONSHIP TO THE HOUR BAR SIZE ,, IF THE PRICE WAS TO CONTINUE ,,, WITH THE SAME M15 BAR SIZES / SPEED ,,, ONE AFTER THE OTHER ,,,,
ECT. ECT. ECT.


Wow, that is amazing. I bet there is even more going on in your trading brain than that too, of course.
Thank you for a starter's list.
Empty your mind and let the market guide you
  • #16
  • Mar 16, 2019 6:00pm Mar 16, 2019 6:00pm
Quoting SunnyCoast
I really liked this post from George who was trying to note down just some of the things that are flowing through his brain as he is monitoring the markets. WHAT IS THE DAILY RANGE OF THE PAIR GEORGE IS TRADING ,,,, WHICH SESSION AM I TRADING IN ,,,, HOW MANY SESSIONS LEFT FOR THE DAY ,,,, WHAT PART OF THE SESSION AM I IN AT THAT TIME ,,,, HOW MANY PIPS ON THE TABLE FOR THE DAY SO FAR ,,, HOW MANY PIPS ON THE TABLE FOR THAT SESSION ,,, HOW MANY PIPS ON THE TABLE FROM THE OPENING BAR OF LONDON ,,,,, I LOOK FOR SET NUMBER OF PIPS ,,,, WHAT IS THE...

Hi Sunny... I dont know if you have been with George trading live... Having done that myself..I can tell you YES he is analyzing all that he says above..
I would highly recommend if you haven't spend some time with George ..it sure has helped me.

Cheers
Blue
Master your Mind,,,Master the Market
  • #17
  • Mar 16, 2019 7:08pm Mar 16, 2019 7:08pm
Quoting bluesteele
{quote} Hi Sunny... I dont know if you have been with George trading live... Having done that myself..I can tell you YES he is analyzing all that he says above.. I would highly recommend if you haven't spend some time with George ..it sure has helped me. Cheers Blue
I 100% want to hear how George is reading the price action bar by bar on the M1 chart.

I just want to put the background work in first so I have a greater ability to understand what he is talking about. I've already been fortunate enough to talk with him 3 times on Skype and each time I've come away with my hat in my hands and my head spinning.
Empty your mind and let the market guide you
  • #18
  • Mar 16, 2019 7:34pm Mar 16, 2019 7:34pm
Also 2 other RED DIAMONDS who have been very supportive have been AUSSI and TZAMO.

I'm not sure how to link their names but thanks for all the tips you have provided so far.

I really appreciate it.
Empty your mind and let the market guide you
  • #19
  • Edited 8:16pm Mar 16, 2019 7:39pm | Edited 8:16pm
https://www.forexfactory.com/attachm...1&d=1552616768
This is where nearly all my focus is now. The 3 solutions have given me a road map as to what areas I need to be spending time on.
Attached Image
Empty your mind and let the market guide you
  • #20
  • Mar 16, 2019 7:40pm Mar 16, 2019 7:40pm
I'd like to ponder here if I may what are the differences between having a BOUNDLESS MINDSET and a GROWTH MINDSET.

A Google search says
Quote
A MINDSET is defined as “the established set of attitudes held by someone”. It affects the way you perceive yourself, other people and the world as a whole and it directly impacts each and every decision you make.
It is the fundamental set of beliefs around which you base your daily functioning.

To have a GROWTH MINDSET, to me speaks of being flexible and open enough to new learnings in a particular field, say FX Trading, and a want to continue to learn in that target area.

On the other hand, a BOUNDLESS MINDSET to me says there is NO GROWTH MINDSET.
There is just information flowing through your mind and you are automatically or MINDLESSly absorbing that information.
Then as your EXPERIENCE deepens you are able to access all of that learning when it is required, say when TRADING.

The samurai I believe call this concept, NO MIND
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Empty your mind and let the market guide you
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