Posted this on cable update earlier, seems to be playing out the way i expected
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- #483
- Mar 26, 2021 4:13am Mar 26, 2021 4:13am
Hello!
Its a surprise that you are not trading but if you have had good week, its wise to rest on laurels and admire the piggybank
I am now taking very much "boxed" approach to GU daytrading, being mindful of the session peculiarities. Cooking today morning breakfast messed up my potential buy. And I usually try to enter only near session H/L, daily H/L and avoid gaptime after 3 hours has passed from LO.
3700 area has given base for good demand. Lets see where it ends up.
Take care!
Its a surprise that you are not trading but if you have had good week, its wise to rest on laurels and admire the piggybank
I am now taking very much "boxed" approach to GU daytrading, being mindful of the session peculiarities. Cooking today morning breakfast messed up my potential buy. And I usually try to enter only near session H/L, daily H/L and avoid gaptime after 3 hours has passed from LO.
3700 area has given base for good demand. Lets see where it ends up.
Take care!
Just watching today no trading Good to see my zone held perfectly, good to have confirmation that you're not just drawing things on your chart for fun. One of my goals is to incorporate more trades with swing targets. Now the question is will we head back up to the red supply or a retrace and supply emerges somewhere below {image}
- #484
- Mar 26, 2021 4:44am Mar 26, 2021 4:44am
- Joined Sep 2009 | Status: Trader | 6,009 Posts
Hello! Its a surprise that you are not trading but if you have had good week, its wise to rest on laurels and admire the piggybank
In terms of results, not bad not great- end of Feb beginning of March was really my time, I want some of that magic back!
- #486
- Mar 26, 2021 5:31am Mar 26, 2021 5:31am
Well, I am mixing daily work with daytrading and I have missed many good opportunities, which I have preplanned. Net return in March is just 2.5% from smallish account. I need really to improve on execution as the calls I have made have been 99% correct with really minimal drawdown risk e.g. 5-7pips vs 20-30pips profit.
I have been learning a lot, esp from your approach. Although I am not focusing on short term breakouts, rather to capitalise in right time of the session e.g. stophunt reversals, minding the short term S/D. Trend trades is my real weakness, I am really afraid on getting onboard on slowly trickling trends.
But knowing ones weakness should be good foundation for improvement...in theory
Lets keep it going and ramp up the success!
I have been learning a lot, esp from your approach. Although I am not focusing on short term breakouts, rather to capitalise in right time of the session e.g. stophunt reversals, minding the short term S/D. Trend trades is my real weakness, I am really afraid on getting onboard on slowly trickling trends.
But knowing ones weakness should be good foundation for improvement...in theory
Lets keep it going and ramp up the success!
{quote} Yea just having a break, back next week! I do have a big Euro long going from the bottom so just watching that unfold. Hope you're taking down plenty of pips! In terms of results, not bad not great- end of Feb beginning of March was really my time, I want some of that magic back! {image}
- #488
- Mar 26, 2021 8:30am Mar 26, 2021 8:30am
I am just fumbling around with my trading and keeping trade journal is too much work really. But I appreciate very much guys like you who can muster both trading and entertainment for lurkers I agree that there is no real point (apart from good banter) to keep personal trading journal here.
BTW, how do you feel about FTMO challenge? Even if I had all the free time for trading, I probably would not trade with other people money and with other people rules. It can mentally mess you up I presume, esp. a lot of restrictions FTMO has. And if you break them, you are on the street.
If you are good at your trades (you are), just scale the risk in (temporarily) and take less pips while building the account.
I agree that there is no real point (apart from good banter) to keep personal trading journal here.BTW, how do you feel about FTMO challenge? Even if I had all the free time for trading, I probably would not trade with other people money and with other people rules. It can mentally mess you up I presume, esp. a lot of restrictions FTMO has. And if you break them, you are on the street.
If you are good at your trades (you are), just scale the risk in (temporarily) and take less pips while building the account.
{quote} Great stuff. Any plans to start a journal or a thread? I'd love to see your approach I was thinking about moving my journaling offline as there's not alot of point having it online for everyone to see. Agreed, i'm not really interested in trend trading or getting in halfway through a move Really getting messed around this week with stop placement, ie putting my stops to BE too soon. It is very frustrating to see your calls complete for large amounts of pips but to have missed out by a hair. Still, that's just the way the market works.. don't...
- #489
- Edited 10:22am Mar 26, 2021 9:38am | Edited 10:22am
- Joined Sep 2009 | Status: Trader | 6,009 Posts
Great PA today, couple of nice short and long setups
1.38 + 1.3830-40 will be sticking points
I'm fine with it, I managed other peoples money (individuals and institutions) for years, the figures of money were eye-watering so I'm kind of desensitized to it, i'm lucky in the sense I have a lot of experience doing large financial transactions
I would probably be much less aggressive with a prop account maybe just taking one trade a day max, high probability setups. Most days GU will give at least one setup that i'm 90% sure will work out and if not I can liquidate quickly
1.38 + 1.3830-40 will be sticking points
I am just fumbling around with my trading and keeping trade journal is too much work really. But I appreciate very much guys like you who can muster both trading and entertainment for lurkers
I would probably be much less aggressive with a prop account maybe just taking one trade a day max, high probability setups. Most days GU will give at least one setup that i'm 90% sure will work out and if not I can liquidate quickly
- #491
- Edited 9:12am Mar 29, 2021 9:01am | Edited 9:12am
- Joined Sep 2009 | Status: Trader | 6,009 Posts
I am moving this journal offline
It has served its purpose of cataloguing my trades from newbie to (somewhat) consistent. It is probably a little incoherent for anyone to follow because it's a mish mash of techniques that I was learning along the way.
Thanks to everyone who left a comment or sent a DM. I saw a lot of people lurk and say absolutely nothing
I'll maybe be back with another thread of some kind
Todays setups, nothing too difficult
Holding onto the short
It has served its purpose of cataloguing my trades from newbie to (somewhat) consistent. It is probably a little incoherent for anyone to follow because it's a mish mash of techniques that I was learning along the way.
Thanks to everyone who left a comment or sent a DM. I saw a lot of people lurk and say absolutely nothing
I'll maybe be back with another thread of some kindTodays setups, nothing too difficult
Holding onto the short
- #492
- Mar 29, 2021 9:10am Mar 29, 2021 9:10am
Was fun while it lasted! Good and reliable setups, very useful way of structuring daytrading. Helped me to draw more channels than usual as well.
We will stay in touch
Cheers,
I
We will stay in touch
Cheers,
I
I am moving this journal offline It has served its purpose of cataloguing my trades from newbie to (somewhat) consistent. It is probably a little incoherent for anyone to follow because it's a mish mash of techniques that I was learning along the way. Thanks to everyone who left a comment or sent a DM. I saw a lot of people lurk and say absolutely nothing
- #494
- Edited Apr 1, 2021 1:44am Mar 31, 2021 6:35am | Edited Apr 1, 2021 1:44am
- Joined Sep 2009 | Status: Trader | 6,009 Posts
- #497
- Edited 9:42am Mar 31, 2021 8:27am | Edited 9:42am
EDIT: I was kicked out at BE and of course now its moving down Could not re-short in time. It is actually now accumulating and might explode up as everyone is trying to short it.
EDIT2: Darn, had nice GA short running from 1.8090 (daily high, multiple tests, round no) and +30pips floating until it reversed into BE.
EDIT3: GL to your EU long!
I am no expert on alternative GBP pairs but GA seems to be decent one when following my basic daytrading approach e.g. 15M candles, 3 hours into session open, try to ride market in right way when its screwing the trades out of stops, watch the highs-lows of day/week/sessions, MW patterns, pinbars, round numbers, S/R and don't get greedy. I have had some good trades in GJ as well but it is tricky and can sometimes trend like a maniac.
GBPCAD is the crazy one to avoid.
Cheers!
Could not re-short in time. It is actually now accumulating and might explode up as everyone is trying to short it.EDIT2: Darn, had nice GA short running from 1.8090 (daily high, multiple tests, round no) and +30pips floating until it reversed into BE.
EDIT3: GL to your EU long!
I am no expert on alternative GBP pairs but GA seems to be decent one when following my basic daytrading approach e.g. 15M candles, 3 hours into session open, try to ride market in right way when its screwing the trades out of stops, watch the highs-lows of day/week/sessions, MW patterns, pinbars, round numbers, S/R and don't get greedy. I have had some good trades in GJ as well but it is tricky and can sometimes trend like a maniac.
GBPCAD is the crazy one to avoid.
Cheers!
Tbh I'm a bit scared of pairs outside of my comfort zone (pretty much just EU,GU and possibly AU) You seem to like GA should I check it out? Seems to fairly move. GL with trade Euro bugging me lately, it seems heavily manipulated and designed to frustrate. It gave a fair move during LO and i'm expecting some continuation this afternoon. But it's moving at a glacial pace
