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Gejordan Weekly Journal

  • #1,121
  • Jun 21, 2020 4:56pm Jun 21, 2020 4:56pm
Bias: UP... I want to be a buyer of EU.
I think Rearden grabbed 81 pips last week while in charge, so that puts the month at 230pips.
Be bullish on you.
  • #1,122
  • Jun 22, 2020 8:53am Jun 22, 2020 8:53am
Hi Ge,

Just closed 30 pips on an Idea#3 trade. The idea #2 s didnt trigger.
Attached Image (click to enlarge)
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  • #1,123
  • Edited 7:22pm Jun 22, 2020 7:09pm | Edited 7:22pm
Here is an idea #1 in action. I wanted to be long this week as mentioned Sunday afternoon. I let price go after the bottom to see if it would break, it didn't, got long. Those of you who have followed me on here for a while should recognize the basic nature of this trade (edge to middle). Same idea (different execution) as the very first trade I showed in this series. 100pips.

I am also in the same trade Rearden showed above, idea #3. Want to be long this week, let it go above simple50 while I slept. In doing so it also got above an aggressive high of the last push down (Rearden, this is the scenario for aggressiveness you want, not last week's... see the difference?) went back to simple50 when I woke up, got long. Trying to get it to 100 pips as well. Currently sits at 70pips.

Didn't quite get an idea #2, so we'll see if we get one as the week unfolds.

Attached Image (click to enlarge)
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Be bullish on you.
  • #1,124
  • Edited 11:18pm Jun 22, 2020 9:13pm | Edited 11:18pm
Quoting gejordan
Here is an idea #1 in action. I wanted to be long this week as mentioned Sunday afternoon. I let price go after the bottom to see if it would break, it didn't, got long. Those of you who have followed me on here for a while should recognize the basic nature of this trade (edge to middle). Same idea (different execution) as the very first trade I showed in this series. 100pips. I am also in the same trade Rearden showed above, idea #3. Want to be long this week, let it go above simple50 while I slept. In doing so it also got above an aggressive high...
Yes Ge, Thank you.

Excellent Idea #1 trade with little risk as possible.

I will train myself to seeing charts, identify the swing correctly and then stick only idea#2 or #3 now. It helps to train myself to be disciplined as well. But its always good to see Idea#1 trades for learning.
  • #1,125
  • Jun 23, 2020 5:47am Jun 23, 2020 5:47am
Good morning. This is the same trade showed by Rearden in Post 1122 above. I was looking for 100pips as mentioned in my last post. I dragged the TP up while I slept in case it ran overnight. Woke up, it had been 100, but had pulled back a little, so took 90 pips on this one.

Attached Image (click to enlarge)
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Price also went searching right after I posted last night and gave me an idea #2 entry at the pivot. It's sitting at 50pips right now. I'm going to see if it has 40 or 50 more pips in it before closing, but closing it here would be awesome, too.
Be bullish on you.
  • #1,126
  • Edited 7:46am Jun 23, 2020 7:29am | Edited 7:46am
Have to switch my focus this morning, so closing this out. Idea #2 from the pivot last night. Price shot down to the pivot, enter, go to sleep, patience, 80pips with the move and the bias. That's an idea #1, #2 and #3 for the week. 270 pips. 500 pips for the month. This is with a week off and no trade for almost an entire other week. About 15 minutes screen time. More time spent on FF talking about it then doing it.

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Post 945 to here shows how I do it.
Be bullish on you.
  • #1,127
  • Jun 23, 2020 9:44am Jun 23, 2020 9:44am
Quoting gejordan
Have to switch my focus this morning, so closing this out. Idea #2 from the pivot last night. Price shot down to the pivot, enter, go to sleep, patience, 80pips with the move and the bias. That's an idea #1, #2 and #3 for the week. 270 pips. 500 pips for the month. This is with a week off and no trade for almost an entire other week. About 15 minutes screen time. More time spent on FF talking about it then doing it. {image} Post 945 to here shows how I do it.
Hi Ge,

I had a order at the pivot.But missed it by 1 or 2 spread....
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  • #1,128
  • Jun 23, 2020 10:07am Jun 23, 2020 10:07am
Quoting Rearden
{quote} Hi Ge, I had a order at the pivot.But missed it by 1 or 2 spread.... {image}
I had just posted and was still at the computer and had not put my hard order in yet. Looked over and was shocked to see price was down at the pivot. It had already hit and started back up. I was 9 pips above pivot, lucky I was sitting here or I would have missed as well.
Be bullish on you.
  • #1,129
  • Edited 9:45am Jun 24, 2020 9:16am | Edited 9:45am
Price out of the up move and into a down move for this type of trading. How you managed today depends on if you took a loss, BE, or gain. All three outcomes are fine and normal, but you have to identify the emotion associated with why you made your choice.

Now is the time to identify the swing that would need to be broken to think trading long again during this up bias week.

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Edit... Here is the chart for the post. As you can see, I took 30 pips on the two positions, I could have moved to BE on my blended position, or taken anywhere from a 30-47pip loss. How my mind works is that I have collected 270 pips for the week, price is challenging to push higher, equally as likely to fail. I don't have to be in the trade when it breaks higher (ego), I want to make money (experience). So 30 pips is fine, especially since I am in from my biggest position size at the trade from the bottom. If you have read from post 945, hopefully you get the sense that I am perfectly ok closing things down and missing out on big moves. Here I closed down and missed out on loss. Big moves usually happen while I sleep if I catch one. This week, I was in from the bottom on a week going from no bias to up bias. I can let that go and see if it will push a bit. Using my position on the chart to determine what I want to do, not my evil trading brain.

You will find when all of this passes that big moves will be rare and solid consistent smaller gains builds the account. Taking advantage of price movement while we can, but not overdoing it.

Now, brain moves to where do i look next. I already have it visualized so I am prepared for it. Don't need to sweat it, until it does it. If price keeps pushing down, I'll keep moving the swing location down and keep moving that visualization down.
Be bullish on you.
  • #1,130
  • Jun 24, 2020 9:41am Jun 24, 2020 9:41am
Hi G,

I took a loss today. But its ok. I will wait for break and hold above white line for a long trade.
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  • #1,131
  • Jun 24, 2020 9:47am Jun 24, 2020 9:47am
Quoting Rearden
Hi G, I took a loss today. But its ok. I will wait for break and hold above white line for a long trade. {image}
So this is actually great... let's learn from it. When price closed yesterday at end of day, what were you thinking?
Be bullish on you.
  • #1,132
  • Jun 24, 2020 10:09am Jun 24, 2020 10:09am
Quoting gejordan
{quote} So this is actually great... let's learn from it. When price closed yesterday at end of day, what were you thinking?
Hi Ge,

My white line was at 1.1281.

I thought if the price price comes down as close to my white line before going up then it may have a higher chance of continuing that move up and placed a PO with stop loss below my blue arrow. When it rejected the 1325 area twice, i took off that order and placed an even smaller one because I thought this has a higher chance to retrace more to the downside breaking my white line(Price was also coming down from 16 June. highs). I moved my stop to below the white line (1. stop way below pivot,2. its below 50 SMA, 3. its below white line). So i thought putting the stop loss below blue arrow was unnecessary as the up move will be over when price reaches that location.
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  • #1,133
  • Jun 24, 2020 10:38am Jun 24, 2020 10:38am
Quoting Rearden
{quote} Hi Ge, My white line was at 1.1281. I thought if the price price comes down as close to my white line before going up then it may have a higher chance of continuing that move up and placed a PO with stop loss below my blue arrow. When it rejected the 1325 area twice, i took off that order and placed an even smaller one because I thought this has a higher chance to retrace more to the downside breaking my white line(Price was also coming down from 16 June. highs). I moved my stop to below the white line (1. stop way below pivot,2. its below...
You outsmarted yourself. What seems like perfectly logical analysis in the moment is silly from the outside. If you have Showtime, watch the episode of Billions from this past week, they captured this aspect of trading perfectly.

The simple end of day thought, pivot just below price, simple50 below swing... uh-oh.

"Price rejected an area, I thought this has a higher chance to retrace... and down from 16 June"....

Those were your own thoughts... uh -oh.

SO

If you worry about the down move, Then why trade from the pivot? You are immediately putting yourself into a tough spot. You did the right thing by lowering the size, but you stuck your stop where everyone and their brother will be wanting to enter. You know I have an order sitting around there while I sleep. How, Because I have spent 3 months showing you I trade from there. And that it works.

So, trade from simple50, be afraid to miss. OR, get that stop away from my entry and position size down until the stop size doesn't concern you. Then enter from the best possible place... the white line, or even better just below it, and don't be greedy.
Be bullish on you.
  • #1,134
  • Edited 10:58am Jun 24, 2020 10:45am | Edited 10:58am
I want you to think about these concepts and trusting yourself because when price goes back into a horrible sideways mudhole one day, this is what you will be dealing with more often than not. We don't have to think about it much right now as price moves with bigger swings. But low range days will come back and thinking about best entry will be paramount.

With all of this said, these are the places you want your mind to get to. Make it a journey, but keep it simple. Even with the loss, you sized down and are still up for the week, with a couple more days to go. That is great and that is positive.
Be bullish on you.
  • #1,135
  • Jun 24, 2020 7:38pm Jun 24, 2020 7:38pm
Quoting gejordan
{quote} You outsmarted yourself. What seems like perfectly logical analysis in the moment is silly from the outside. If you have Showtime, watch the episode of Billions from this past week, they captured this aspect of trading perfectly. The simple end of day thought, pivot just below price, simple50 below swing... uh-oh. "Price rejected an area, I thought this has a higher chance to retrace... and down from 16 June".... Those were your own thoughts... uh -oh. SO If you worry about the down move, Then why trade from the pivot? You are immediately...
Yes I got this. My stop was at a place where price would naturally go to. Thank you.
  • #1,136
  • Jun 28, 2020 4:22pm Jun 28, 2020 4:22pm
New Week. Bias: Down. I want to be a seller.

Interesting start of week. We had the big move down, low at 1.1189. After price broke and held below the swing last week, it really just moved down with some pauses, not really a pullback like I want to see. See post 1040. Similar situation here. The swing telling me price is in an up move could be sitting at 1.1310 or 1.1258 or somewhere else? I don't know, but these give me markers to think about as I look to sell this week.

Review post 1040 for the mental game associated with this situation. It won't be the last time you see it, so the more you burn it into the mind now, the easier it will be to recognize in the future.

As for me, I have over 500 pips for the month. I view this differently from Rearden, for example. Rearden might feel more pressure because it hasn't been a big month. I can take vacation until it clears up and start new in July. Either way, the point of thinking about this is to make sure you catch yourself before you make a big gamble.

Where you sit for the month when a tougher situation appears often has big impact on your account if you aren't in control. When I wasn't making the kind of money I wanted to, I would always take bigger gambles at months end, almost always NOT working out and leading me into a downward spiral and blown up account. Stay in control and make it a marathon, not a sprint. Your mental health will thank you.
Be bullish on you.
  • #1,137
  • Jun 29, 2020 9:44am Jun 29, 2020 9:44am
So, let's put some simple visuals to the last post and how I traded it. Remember, I wanted to be cautious to not give back a bunch of what I have made this month and we are sitting in the face of a down move that paused, but never really pulled back on the way down.

My typical entries, simple50 or pivot, would be way too far from the swing (big white line) with this type of action. So, I look to the pauses (the blue lines) to see if any sit within my risk tolerance. The top blue line is the bottom of the swing that was broken, which started the down move. The lower two blue lines are a bit better than typical entry and price reacted, but I sit with the advantage of having a good month so I can be picky and see if we do better.

Price continued up and made it to my favorite, the top two blue lines. This represents the break of he last swing and the pause that happens there. To me, that is the best compromise for wanting to get short, but balancing the risk of whether or not it makes it to the white line.

I took 63 pips on the two positions, again, not needing to see if I am right and see if the bottom gets taken out, just getting a good entry and profit. Now I can leave the charts and come back at the end of the day and start again.

Attached Image (click to enlarge)
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Be bullish on you.
  • #1,138
  • Jun 29, 2020 10:34am Jun 29, 2020 10:34am
Quoting gejordan
So, let's put some simple visuals to the last post and how I traded it. Remember, I wanted to be cautious to not give back a bunch of what I have made this month and we are sitting in the face of a down move that paused, but never really pulled back on the way down. My typical entries, simple50 or pivot, would be way too far from the swing (big white line) with this type of action. So, I look to the pauses (the blue lines) to see if any sit within my risk tolerance. The top blue line is the bottom of the swing that was broken, which started the...
Thanks Ge for the chart and showing how to trade when there are no clear pull backs. It helps. Thank you.

I didnt take any trades for the day. I was waiting for a clearer signal(like may be break and hold below the current swing low etc) and then bringing the white line down if that happens.....

Thanks again.
  • #1,139
  • Jun 29, 2020 11:15am Jun 29, 2020 11:15am
Quoting Rearden
{quote} Thanks Ge for the chart and showing how to trade when there are no clear pull backs. It helps. Thank you. I didnt take any trades for the day. I was waiting for a clearer signal(like may be break and hold below the current swing low etc) and then bringing the white line down if that happens..... Thanks again.
I think that is a great choice. Learn from it, take a mental note, and be ready for it as you see it appear in the future. Sometimes learning from these moves is much easier when there is no trade attached to it.
Be bullish on you.
  • #1,140
  • Jun 29, 2020 11:16am Jun 29, 2020 11:16am
Quoting Rearden
{quote} Thanks Ge for the chart and showing how to trade when there are no clear pull backs. It helps. Thank you. I didnt take any trades for the day. I was waiting for a clearer signal(like may be break and hold below the current swing low etc) and then bringing the white line down if that happens..... Thanks again.
And go back to 1040 and see if you can tell me what you see that is different from today.
Be bullish on you.
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