Exnav Friendly Courses of Action

INTRODUCTION

My English is neither native nor perfect.
I am neither PRO trader nor having any credentials of financial markets industry.

After passing more than 10 years of trading Forex Spot, and almost 3 years of participating in the Technical Analysis Fallacy/ TAF thread (by Fti and his followers), I am still not sure that I am able to run my own thread/ journal. It's a huge responsibility.
I have nothing to prove here, I'm not going to teach anyone, I don't manifest and advocate anything. I only feel like it's my duty and it would be fair to do so.
I don't like drawing charts and yet don't know how I will express myself. Let it be an attempt. I am going to write what I think about and around the trading and how I trade. In fact, I have been learning and training to trade and will be learning and training as soon as I have interest and motivation.

At the inception of the Friendly COA, I should specify that the terminology I use is mostly based on that of TAF and I kindly encourage everyone new to FF and Forex to read at least the first 200 pages of that thread by the great man - Fti.

And very briefly on my personal understanding embedded in my modus operandi:

All the world is a stage, and all the men and women merely players. By William Skakespeare
All warfare is based on deception. By Sun Tzu
Laws of Motion. By Isaac Newton

I accept any sorts of critique and humor provided FF rules of conduct are respected.

P.S. I'm still not sure if it will be the only post...

REFERENCES (what I might be aware of/ in the past):

I have been trading or used to trade: AUD/ USD, EUR/ USD, NZD/ USD, USD/ CAD, GBP/ USD, GBP/ JPY, EUR/ JPY, USD/ JPY, USD/ CHF, EUR/ CHF and DAX30 (or GER30)

MY SIZES:

Ant = Ant
Trading accounts Live/ Real or Demo: starting from 1.5K up to 15K EUR (never more than 20K since there's no regulated security above)
Scout 1K or 10K

I am generally trading with banks but did so (and might reactivate) with normal brokers as well.

I do respect my State Revenue Service and declare my profits and loses accordingly

I'm not in rush and am observing the market carefully today. According to Calendar we may have some abnormal volatility due to EU/ EUR Zone decisions.

I'm not rigid but am aware of previous Days High, Low, Close, this Day Fibo Pivots. Nothing in stone, no any fixed line or exact price level. I'm observing what PA is doing over there and then go with the Price.

I don't watch the monitor 100% of time. I use sound signals on price levels close to my zones of interest. Once a Scout order is activated, depending on PA volatility I may watch or leave the monitor so to hear when the volatility starts showing up in whatever direction.

I must see and respect trendline channel or just lines, dissect within high time frames and lower time frames TL. Starting from daily and step by step: 1H and so on.

I must see PA patterns and candles developing as above, so below. Be objective.

I activate my orders on 10SEC or 1MIN TF, having in mind (mandatory check 5MIN and 15MIN TF). I square at 10SEC or 1MIN. It means at the moment of pushing the button, I am of most of focus.

Before pushing the button I double check the Size I'm triggering.

Hi Exnav

Nice one my friend, I wish you great success in your trading and on your new adventure with your journal, I shall be reading along as post.

Regards

Phil.

Hello Phil,

Thank you so much. And I feel so much responsibility as well. Never sure. A try.

All the best, My Friend.

Best regards,
Exnav

Regarding Trendlines.

We all know that Trend is your Friend.

If there is a lower time frame trend I try to go along until there is a sign of closing to a higher time frame trend line. Observe PA close to the area, then square the lower TF ride and launch from the higher TF border only if PA manifests so.

I can probably never take 100% of move. As it was yesterday European morning with GBP, I managed to take just 3/4 of move North, then the same about 3/4 of move South.

How do I follow the Trend:

As I wrote previously, ATM I'm unable to get 100% of the Trendline. I respect the CounteForce and square, then, when the Force comes on Retracement (Fibo around 35 to 65%), I continue along with the Force.

If the CounterForce shows up on the Higher Time Frame border, I then join the CounterForce.

Scout Long with GBP

Don't follow. I am not a signal service. Neither responsible for your money.

I watch 145.10 and 145.27

Stand By
Squared
PA respected Daily Pivot and broke 10 SEC TL
It may go either way now.
Just observing

Thanks Exnav.

My 2 pips from TAF learning.

DO NOT Overstay in Rescue
DO NOT leave Rescue unattended
Do not make scout bigger than what what previously planned. Scout is scout, dont assume attack is scout.
Surrender if 2nd Rescue fails. (This depends upon Cap.)
Surrender if losss breach 3% of avg. daily P/L, again subjective.
Look forwards once battle starts, dont get influenced by history in the battle
Plan attack and rescue before attack, skew and position
DO NOT FIGHT TREND
Do not trade if you are not in mood to trade

(i will share as and when i know more).

I am Long EUR/USD, scout was in 30 mins back. scout in position.

I see that ATM I'm unable to trade and post simultaneously.

PA retraced to the Day Low and now tries to brake the PIVOT direction North. Let's see which Force is stronger.

Ant, you are warmly welcome here.

Either we are focusing on trade or on posts. It's fine with me and I let the Price to show an impulse.

To me, ant as you are, Scout is the smallest on my account conditions. But sufficient enough to feel the pulse. Sometimes I may send two scouts in both directions.

RESCUE - the most dangerous thing, especially for us, who are not PRO level.

I described my view on the Rescue to Pannet1, so did Dongsky and I agree with him. You could reread both posts on TAF.

To me, Rescue is CounterForce Attack or CounterAttack. When we are on the Higher Time Frame trend border zone. To me, it's a good opportunity to send my forces. Rescue what? Scout could be cut off if wrong/ mistimed.

I don't cut a mistimed Scout unless there's a very strong move opposite which violated the above mentioned HTF TL (Probably on Daily Chart).
I may be wrong yet with the Scout and Time, Price zone level accuracy. Or, that was a Spring/ Upthrust to take out Stop Loss Orders, fill the CounterForce Strength. I may send another Scout to check what is going on with my First One Scout. Maybe he is asleep and doesn't wish to perform his duties?

And, once the CounterForce (CF) is there, we join it with our Ant level Force. To do what? Nobody knows apart from PROs what the CF is going to do. Let them make us a BE+ first. It's up to you and your health condition at the moment of the run - are willing and able to get huge profit or be satisfied that it was just a rescue.
I normally am satisfied and very... because BE+ 1 pip, it's still money.

Otherwise, I agree with your consideration "DO NOT FIGHT TREND Do not trade if you are not in mood to trade".

And, what if you are with CF and the Rescue failed. That's a huge question then. At least, I don't recommend anyone (apart from PROs of course) to fight for death, or DD percentage. If someone like/ prone to rescues, he may hone and train it along with chart reading skills, preserving of CAP but in a sound objective mood. What to express more? I don't advocate rescues, I prefer counterattacking along with CF. But all this doesn't make any sense without your (my) own understanding and experience.

How to make our position secure against unpredictable sudden counter-move (gap, slippage) far away in opposite direction.

There are many options, and it would depend on your pocket, ambitions, risk appetite.

I try not to leave my positions unattended if they are sufficiently large and I make a kind of hedging to protect my book. DeltaOne well and briefly described the point on the Bucking Bronco (Jupiter's) thread.

You don't want your account significant damage. E.g., you position is 3 Scout Size and there's some 30 - 60 pips away limit you think a disaster for your account or trading CAP. Then, you might open a pending order 2 Scout Size in opposite direction on that limit. Afterwords, you either cancel the pending order as unnecessary or it is filled and you will be able to manage the situation being just at a Scout size. Or, you might have locked just for protection purpose.
Otherwise, my broker will hedge automatically - by opening positions in opposite direction (that's when 100% exceeded).

Another question is whether your broker fill and at what price whatever your pending order is (SL or Hedge), or will you be able to make SL or Hedge manually at the time of the counter-move (either you are absent or due to technical reasons).

P.S. I think that Phil13's journal is a good demonstration in this regard, and his MO is more advanced and elaborated
So CookieMonsta is doing, I quess.
My emphasis is always on Sizes and Distances

Dear Exnav,

Let me Digest that. Thanks.

Right now i am following FTI method for rescue, in the direction of trend bias.

I am not yet ready for 2 scouts in both directions or checker scout or counter trend attack. I am not sufficiently capitalized for these things, however lucrative for books.

I am building my Ant hill with just one direction bias, (No counter trade) and learning to dance in one direction.

Thank you for your initiative. May god bless you with all happiness.

Regards,
Ant

Dear Ant,

In fact it should not be counter trend, it's along with higher time frame trend. When a lower TF trend meets the higher one's border zone. There's supposed to be a counter force. But it's not mandatory, the lower TF trend could develop and make change the major previously higher TF. I observe what is going on there. I am sending scout there. I don't know which force will prevail.

And don't worry. Your path looks very accurate. In the end you must perform your own way, your own MO, take, adopt and develop what suits you. As I expressed at the very first post: I am not a teacher nor PRO. Be critical, and, you are right - digest, dissect. Take your time, don't rush - as you well do.

Best regards,
Exnav

mr. Exnav you are doing a great job...
..will read your words with joy...

Mr 7thTorch,

Thank you. You are warmly welcome. I agree, it's a job. Moreover, joy and jokes...

Now my issue will be to keep both trading and this thread. I'm not so strong and need breaks as well. We'll see.

Best regards,
Exnav