MY Journal-phil13

Hello Phil, thank you very much for this unexpected gift, it is your "trade" number 110 that I store in my file. I'm still investigating how to incorporate these techniques into my MO trading.

This week, without going any further, I have released some useful numbers:

- In trades with the same "direction", the increase in 1 step of the Fibo series (x1.618 or i.e. 3 to 5) implies that the BE level will be 0.618 the distance between both trades, the increase in 2 steps of the Fibo series (x2.618 or i.e. 3 to 8) implies that the BE level will be at 0.382 the distance between both trades.

- In trades with "opposite" direction, the increase in 1 step of the Fibo series (x1.618 or i.e. 3 to 5) implies that the BE level will be at 1.618 the distance between both trades. the increase in 2 steps of the Fibo series (x2.618 or i.e. 3 to 8) implies that the BE level will be 0.618 the distance between both trades.

In my operations (MO) I establish a zone of attack (time window?), When the price reaches it, always if the PA accompanies, I start the Attack (1), if the operation goes against me I can Re-Group (1) my troops, always inside the zone of attack, and if it goes against me outside the zone of attack, then I can do a Rescue (3). If it still works against me, at a certain defined moment (candle close), I close the operation and accept my error and my losses. This works for me, at least for the moment, but one day I will find myself in the situation that everything will have gone against me, more than expected, that is why I prepare / research for that moment.

In any case, what you do implies a great effort, that at least on my part, is appreciated and enriching.

Gracias amigo,

Regards

Hi fex

Thank you for your post.

Ah…. My friend someone who thinks with his own mind, much respect to you, all discoveries were made by people thinking for themselves and testing their own ideas, my journal was to show what I have learnt in the hope others may gain something to develop their own MO, I show things in the hope to give others ideas to develop ‘out of the mainstream’, this is why I think our friend FTI said ‘ I am the sort that like set his behind on fire’, my whole life has been like this, I consider it a test of me! By ??, (we will not go there in our own personal beliefs, too much conflict), all I will say is belief in something works two ways and can lead to dark places if the bias is too strong one way, better to just flow with what is happening now and try to make the best of it, you/me we create our own circumstances in our actions, knowing how to deal with the things we create in a positive manor leads to new lessons that we can use later....as to what I have shown… MONEY… it is merely a vehicle to be used, you either use it to get to where you want to as safely as possible or you just recklessly take chances in the hope it will work out, all business is like this. AOW… without the resources of the state you have nothing… use them to ‘the states’ advantage, disregards your own ego, wants and needs.

So this later part of the journal was going to be split into 3 parts... money management, market read and the mind (psychology.. some how?) I used parts of the others in the first part but I wanted 3 in depth parts, that was my plan when I restarted this journal.. but things went a bit astray… and they as most often happens got sorted now. Anyway I need a break for now as I have mentioned I have other commitments for a while, maybe I will just post some more trades now and again until I can commit to the next stage.. let us see, I set this account for this journal only so??... What or anything I do with it I must post to keep it real.

Take care and good luck with your journey my friend, oh and I have seen and will keep reading your journal too, Thank you for your own efforts in do so.

Regards

Phil.

another trade i have done on that account... starting to show the read a bit more now but only when i have time so do not know how often i can post?

E/U trade...



















cont' below...

cont' from above..

another E/U trade... short term 'read'..

E/U trade above try for continuation....

E/U..... high risk counter trade.

E/U.... continuation attempt..... this is what scouts are for! no attachment it is their job!

Phil,

Glad to see you back and posting again! Im excited to see the "read" part of your journal. Just wanted to stop by and say thank you again for all your contributions. I hope all is well!

Hi dbrown101

Thank you my friend, now our friend FTI is back and has control of his thread everything appears to be back to calm and sorted, so I do not feel like I am fighting a losing battle in trying to help carry out what fti wanted and trying to help others along their learning curve a little as he asked of us.

i will post when i can but it will be very stop/start as i am committed to something else for the about the next year or so and i just can not trade as easy from a laptop or phone as i can at home in my office.

Good to see you here again hope all is well with you.

Regards

Phil.

E/U trade continuation....

E/U trade continuation

E/U continuation trade... some days are like this for all of us.

E/U trade...



















cont' in post below...

cont' from above..

You can now start to see how I do my analysis… top down.. so I start at daily here I look at the most recent bars mainly and where we are in the current move, then I move to the hourly, here more in depth analysis is done such as what buyers and sellers are doing and where they are likely to be on the chart levels, what the now trend is telling me etc…. the lower frames are for entries is best not to clutter these too much and take now read to try to get on the flow.

E/U trade... tried to catch a bounce.

from our friend FTI...

What i am trying to tell you is no one can teach anyone anything. Only if they seeks to learn.
Even plant cactus on stone. It will die.


https://www.forexfactory.com/showthr...0#post12386500

i am away at the moment, sorry but i am very much tied up with some other stuff going on in life for the next 4-6 weeks likely, i will not be able to post any trades during this time.

good luck and happy and profitable trading to all my friends and people following my journal.

Thanks phil for tread! Now I have some time to finish last 7 pages). I'll be waiting for next lesson!