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Sterling Trading Jornal

  • #21
  • Jan 5, 2022 7:52am Jan 5, 2022 7:52am
Quoting SimpleBoy
{quote} Thank you, Mr.MM-Mineman. I curious that do you still hold your position from 1.4010 and if the PA before the NFP is still bullish, will you hold your positions through this week. Regards SimpleBoy
Hey SimpleBoy,

you can call me MM or MineMan but without MR. please

Yes, I'm still holding a small portion from 1.3440 but I'll close it soon

As per my analisys yes, price is still in a bullish momentum but we didn't had a " decent " retracement ( sell stops runs ) since we started to move up...Tomorrow it's a good day to take profits and move to the side lines because of NFP.

I would hold my position If we had extended more to the up side, that would give me more security to absorb a retracement because NFP days use to be wild trading days...and generally " they " run both sides of the market...and I don't wanna to be caught
  • #22
  • Jan 5, 2022 9:19am Jan 5, 2022 9:19am
As you can see from screenshot below, I identify some levels to be traded and expect some kind of reaction at those levels.
I'm trying to build more patience making exercises like this while practicing PA analysis in real time feed...identify levels where reactions / reversals may happen but I'll not take a trade.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2022-01-05 10.55.09.png Size: 216 KB
  • #23
  • Jan 5, 2022 8:28pm Jan 5, 2022 8:28pm
Quoting MM-MineMan
{quote} Hey SimpleBoy, you can call me MM or MineMan but without MR. please Yes, I'm still holding a small portion from 1.3440 but I'll close it soon As per my analisys yes, price is still in a bullish momentum but we didn't had a " decent " retracement ( sell stops runs ) since we started to move up...Tomorrow it's a good day to take profits and move to the side lines because of NFP. I would hold my position If we had extended more to the up side, that would give me more security to absorb a retracement because NFP days use...

Thank you ,MM
and how about the 2 position before
@1.3410
@1.34257
where did you close these trades. how price action lead you to close them.
  • #24
  • Jan 5, 2022 9:49pm Jan 5, 2022 9:49pm
Quoting SimpleBoy
{quote} Thank you ,MM and how about the 2 position before @1.3410 @1.34257 where did you close these trades. how price action lead you to close them.

I'm not closing trades with PA only, " Time " also plays in my rules... Like ICT say, Thursdays tend to be good reversal days making the High / Low of the week, so I look to close trades by that time.

I've closed those trades Thurday 30/12/21 at NY Session when we broke Asian High. In this trade, PA have led me to close above a recent High.

Like this week's trade I took, yesterday I took 66% of the remaining portion off ( I've 0.05 lots still open of the initial 1 lot ) when we rallied to big fig. still very close to my target...just 10 pips above.

Edited: misspelling
  • #25
  • Jan 6, 2022 3:52am Jan 6, 2022 3:52am
Went long at London Open with very low risk 0.2% with a tight SL ( 1.3490 ) and almost took me out

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2022-01-06 11.56.22.png Size: 252 KB

Price have filled the FVG and was trading at 1H Bullish Order Block Mean Threshold making an SMT Divergence.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2022-01-06 11.57.25.png Size: 174 KB

Already took partial profit and letting the remain portion running targeting yesterday's high for a turtle soup
  • #26
  • Jan 7, 2022 7:00am Jan 7, 2022 7:00am
So,
I decided to hold my trades because of my analisys on Wednesday and yesterday's PA.

IPDA defined a new range.

I was expecting more " action " today but seems they will drive it slowly...better this way

I really would like to see 1.3610 traded waiting for that lvl for so " much time " I don't wanna take profits there because I already took close to big fig...it's just that thing...It's not about being right ( because I already took profits near of it )...it's something that makes sense to me as per my PA analisys and all stuff during this week turned as expected...except trading 1.3610

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2022-01-07 15.59.14.png Size: 240 KB

Nice reaction at oversold...
  • #27
  • Jan 7, 2022 7:01am Jan 7, 2022 7:01am
Quoting MM-MineMan
Went long at London Open with very low risk 0.2% with a tight SL ( 1.3490 ) and almost took me out {image} Price have filled the FVG and was trading at 1H Bullish Order Block Mean Threshold making an SMT Divergence. {image} Already took partial profit and letting the remain portion running targeting yesterday's high for a turtle soup
Hi MM

Thank you for answering my question.

why you draw fibo at this level ? to me it's seem like it isn't a complete swing.
and what timeframe do you use when you looking for SMT divergence ? 5m or 1H

after the NFP that doesn't create much volatility , what is you target for your remain position , still you set your target at previous high ?
  • #28
  • Jan 7, 2022 7:32am Jan 7, 2022 7:32am
Quoting SimpleBoy
{quote} Hi MM Thank you for answering my question. why you draw fibo at this level ? to me it's seem like it isn't a complete swing. and what timeframe do you use when you looking for SMT divergence ? 5m or 1H after the NFP that doesn't create much volatility , what is you target for your remain position , still you set your target at previous high ?
Hey SimpleBoy,

you're always welcome!

That Fib you see is the Asian Range and I got it there for projections lvl's.

SMT divergence works in every Time Frame...So, I look in every time frame...we just need to know what are we looking for, or if just using SMT as an entry will burn you because price will make divergences along the way to terminus.

My next target is 1.37 big fig 1.3750...

Intermediate/ long term we may see 1.39 / 1.40 / 1.4070 but that will depend on price action on the way up...there're somethings that still excape my analisys but as per ICT says in his videos, that's a normal thing that will come with experience.

When I'm " long " I'm always looking for highs to be broken and take profits there...this doesn't mean I'll take profits every time we brake an high..It'll depend on the High...if it's an old high exemple previous weeks high and previous monthly high are good ones to take profits in the long term...Intraweek highs are also good to take profits...this will depend also if we are trading or in a consolidation range.
  • #29
  • Jan 10, 2022 1:34am Jan 10, 2022 1:34am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2022-01-10 09.47.26.png Size: 233 KB


I went long below 1.3580 on Judas swing...Premise was that 1.3610 lvl still bo be traded...
SM paired sell orders with Buy orders as drawn in chart above.
Entry level at 1.3575
Stop level at 1.3570
Risking 0.5 lots ( less than 0.5% )
Took first profit at 20 pips
SL at BE
Next TP 1.3610

Trading presently at a Breaker

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2022-01-10 10.33.03.png Size: 224 KB

Even if I'm wrong in my analisys...I already " made " money

Peace

Edited: Ignore that big wick on the left side of the chart...I don't know why but sometimes I get this big wick in some time frames but not in all of them.
  • #30
  • Jan 11, 2022 12:18am Jan 11, 2022 12:18am
Took a long at 1.3585 with a 15 pips SL
Risked 0.3 lots = less than 0.5%
Took 1st Profit ( 0.1 lots ) entering Daily Bearish OB
SL to BE

Attached Image (click to enlarge)
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  • #31
  • Jan 11, 2022 6:28am Jan 11, 2022 6:28am
Quoting MM-MineMan
Took a long at 1.3585 with a 15 pips SL Risked 0.3 lots = less than 0.5% Took 1st Profit ( 0.1 lots ) entering Daily Bearish OB SL to BE {image}
Hi Mineman

I wonder that you already know that price was at the daily bearish orderblock which is a big clue that price has potential to reverse here and then why you do not close all your position there. is there any PA show you that bull is stronger than daily bearish orderblock ?


Thank you
  • #32
  • Jan 11, 2022 9:58am Jan 11, 2022 9:58am
Hi Simpleboy,

I had to close those trades because I was using an FTMO free trial account and they end after 2 weeks...or I would still have them running.

We can expect some kind of reaction at this levels...sometimes they move some considerable amount of pips and other times it's just a 20...30 pip reaction...liquidity pools will assist to know where price is most likely to move into...

Fiber ( EURUSD ) it's the weak pair...notice how EURO makes lower lows and Cable usually refuses to go lower...

[quote] is there any PA show you that bull is stronger than daily bearish orderblock? /quote]
If you see it like that, bears will " always " gonna win because if it's an Order Block you'll always gonna get some kind of reaction...expect those reactions and be confortable price moving down...it needs to go before moving up...they'll always " grab "..make some kind of Stop runs and then they turn around and move in the opposite way...If we are trading ( bullish or bearish ) that side gonna win battle but that doesn't mean that this side will win all the fights during the battle

Be safe
  • #33
  • Jan 18, 2022 1:27am Jan 18, 2022 1:27am
Attached Image (click to enlarge)
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Little scalp...almost 25 pips...took 80% off and letting remain running
Wanna see how PA fills the Daily's FVG's
  • #34
  • Jan 18, 2022 4:30am Jan 18, 2022 4:30am
Closed all Short positions...
The short I took today was with a 10 pip SL risking 0.5%...made 1.4% return... almost 1:3 R:R
This one below is from last Friday's...15 Pip's SL risking 0.75%...made 6.7% return...almost 1:9 R:R

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2022-01-18 12.57.46.png Size: 119 KB


My goal was achieved...5% ( almost 6% ) within 2 weeks!
Had a max. drawdown of 2.16% initially but, with 2 trades I made almost 8% return.
Below it's the account statistics

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2022-01-18 13.12.03.png Size: 46 KB

Note that I split my positions ( gonna have more than just 1 trade when trading / long or short ) and that will mess up a bit the win ratio.

Peace
  • #35
  • Jan 18, 2022 11:26pm Jan 18, 2022 11:26pm
Your trades is awesome.
This is mine

All the trade is counter the trend
and my last order I buy at the place where you sell your last order.
(after the 1m candle break of structure and retrace to last bear candle , I expect it to go high for 7 pip with 7 pip stop that is 1%
but actually it was a liquidity grab to the 5m imbalance area where it start the move down )

The chart fooled me.


but i got a lesson i will trade only with the trend from now on.
Attached Image (click to enlarge)
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  • #36
  • Jan 19, 2022 12:14am Jan 19, 2022 12:14am
Quoting SimpleBoy
Your trades is awesome. This is mine All the trade is counter the trend and my last order I buy at the place where you sell your last order. (after the 1m candle break of structure and retrace to last bear candle , I expect it to go high for 7 pip with 7 pip stop that is 1% but actually it was a liquidity grab to the 5m imbalance area where it start the move down ) The chart fooled me. but i got a lesson i will trade only with the trend from now on. {image}
Thanks SimpleBoy

Trading is brutal we compete against each others and the " Elite Players " are in same pool.

That's the problem with LTF...it'll elude easily.

One advice I'd give you it's to stay away from LTF and trade only in the direction of IOF....let the market make the tops and bottoms and then you look for entries

Peace
  • #37
  • Jan 19, 2022 12:58am Jan 19, 2022 12:58am
" ..let the market make the tops and bottoms and then you look for entries "


Thank you MM

can I ask you how you define the top and bottom on your last friday trade ?
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  • #38
  • Jan 19, 2022 1:15am Jan 19, 2022 1:15am
Quoting SimpleBoy
The chart fooled me. but i got a lesson i will trade only with the trend from now on. {image}
So, I've same thoughts about Trader Psychology...We gonna need to fight our selfs to be successfull in trading and that's why I also believe that the Algo runs on Sentiment also

When I started trading I had that rush to get in...to be in the market all the time...to be honest I still have it just like fear and greed I just come to a point where I now know better my feelings and I started to control them.

If you look at the 5m charts you can see some movements up and down where one can make some " money " but they will be limited in the range because it's a LTF...for exemple in the 1H TF those same movements up and down will be more significant in terms of range...and I'm more interested in that.

And there's another thing...if you can't " predict " PA in the HTF you will not be able to predict it in LTF...that's why I said to you be away from LTF

Peace
  • #39
  • Jan 19, 2022 1:28am Jan 19, 2022 1:28am
Quoting SimpleBoy
" ..let the market make the tops and bottoms and then you look for entries " Thank you MM can I ask you how you define the top and bottom on your last friday trade ? {image} {image}
You define tops and bottoms with Market Structure.

Cable day 13 made 2 attempts to go higher in LO session, 1 more at Londo's Lunch time and another one at NY session overlapping with LC session time...so many attempts to go higher and failed...and in same day MS was broken to the down side. I waited for the retracement to happen Friday in LO or NY sessions.

Peace
  • #40
  • Jan 19, 2022 1:45am Jan 19, 2022 1:45am
Trading it's complicated and simple at the same time...

If you look closely at those 2 last trades I posted most recently, those " shouldn't " be taken...because I was trading against HTF IOF and we should focus on same direction of HTF's.

I was trading the bounce...If you look at Daily chart we have some Liquidity Pools above PA and I was expecting price to fell short of those highs and make another attempt higher...so far so good

Price retraced just before those highs as expected and I sold there and I've hold it till yesterday...where I predict price could resume higher so I exited earlier.

Peace
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