The Long and Winding Road of Trading Journey | Page 18 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

My road to successful trading 37 replies

DAX Trading Journal - Road to a better consistency 8 replies

A young trader's road to profitability - PASR trading - Live 11 replies

Road Runner's Trading Journal 16 replies

Road behind....road ahead. 10 replies

Attachments: The Long and Winding Road of Trading Journey
Exit Attachments

The Long and Winding Road of Trading Journey

  • #341
  • Feb 10, 2022 7:36am Feb 10, 2022 7:36am
Quoting Chrissk
gold 30m mapping potential ideas for upcoming news. {image}
Well, no more pullbacks but target reached quite fast, just one 1m candle for nearly 100 pips, classic gold

Attached Image (click to enlarge)
Click to Enlarge Name: xauusd 10.02 30min.png Size: 75 KB
  • #342
  • Feb 10, 2022 7:42am Feb 10, 2022 7:42am
Quoting Chrissk
{quote} Well, no more pullbacks but target reached quite fast, just one 1m candle for nearly 100 pips, classic gold {image}
yeah. 1m candle 75 pips down.
really at the mercy of news.
cleared some of my od.
this week back to positive return and hope that it remain so.

crazy 1m candle 89 pips up to the top and down again.
not for the faint hearted.
ITB - Seeing Orderliness amongst 'Randomness'
  • #343
  • Feb 10, 2022 5:38pm Feb 10, 2022 5:38pm
Quoting Inthebox
{quote} checking a htf might help in decision making. it was a long into resistance. {image}
Yep, I'm thinking of going one TF higher to trade, i've been studying that 30min and higher OB tend to be more respected and you get the benefit of framing the trade with overall sentiment. Also, I was reviewing that my time period for trading, NY 5-7AM, gives mostly false signals or slow market due to lack of volatility. I will try to adapt my chart time to NY 8.30-10.30. I'll keep posting my trades.

best,

djsmig
  • #344
  • Edited 10:19pm Feb 10, 2022 10:08pm | Edited 10:19pm
Quoting djsmig
{quote} Yep, I'm thinking of going one TF higher to trade, i've been studying that 30min and higher OB tend to be more respected and you get the benefit of framing the trade with overall sentiment. Also, I was reviewing that my time period for trading, NY 5-7AM, gives mostly false signals or slow market due to lack of volatility. I will try to adapt my chart time to NY 8.30-10.30. I'll keep posting my trades. best, djsmig
this is the heart of the matter:
1. week / day / session high resistance, low support where liquidity had been taken.
2. below resistance / above support, look for retracement to fair value gap after intraday market structure shit.
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-02-11.png Size: 30 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #345
  • Feb 10, 2022 10:57pm Feb 10, 2022 10:57pm
Quoting Inthebox
{quote} this is the heart of the matter: 1. week / day / session high resistance, low support where liquidity had been taken. 2. below resistance / above support, look for retracement to fair value gap after intraday market structure shit. {image}
Hi Inthebox,
Will you enter @fvg with limit order or wait for confirmation bar?
  • #346
  • Feb 10, 2022 11:11pm Feb 10, 2022 11:11pm
Quoting KevinZeng
{quote} Hi Inthebox, Will you enter @fvg with limit order or wait for confirmation bar?
i do both.
if you want to see price action wait for candle close.
if you want to take out the emotion use limit order.

also can do half of your lot size for each of them.
ITB - Seeing Orderliness amongst 'Randomness'
  • #347
  • Feb 10, 2022 11:50pm Feb 10, 2022 11:50pm
about lot size.

last month, i started out using my usual lot size for entries.
then i switched each entry to one fifth of my usual lot size and find that it took out most of my emotions even when losing without too much monitoring.

beginning this month, i was trying out the fibonacci entries 1,1,2,3,5,8,13,21,34,55 ........
it hit my nerve when i used up to 34 for previous day gold where there were wild swings due to us cpi news and reached slightly more than 10% equity loss.
now for sure the most i use will be 21.
might even consider further breaking up the fib into 1 - 1 - 1,1 - 1,2 - 2,3 - 3,5 - 5,8 - 8,13.

i would recommend to experiment what kind of lot size entry is suitable for yourself.
ITB - Seeing Orderliness amongst 'Randomness'
  • #348
  • Feb 11, 2022 3:18am Feb 11, 2022 3:18am
gold 30m - more gas left for longs and next week back to potential shorts? Pretty cute liq. grab into yesterdays low followed by bullish impulsivness.
Asia high still left untouched and alot of yesterdays imbalances to fill.

Attached Image (click to enlarge)
Click to Enlarge Name: gold 30m 11.02 2.png Size: 75 KB
  • #349
  • Feb 11, 2022 3:39am Feb 11, 2022 3:39am
Quoting Chrissk
gold 30m - more gas left for longs and next week back to potential shorts? Pretty cute liq. grab into yesterdays low followed by bullish impulsivness. Asia high still left untouched and alot of yesterdays imbalances to fill. {image}
i am looking at h4.
last month high low fib 78 reversal target fib 50 first.
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-02-11.png Size: 11 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #350
  • Feb 11, 2022 4:03am Feb 11, 2022 4:03am
Quoting Inthebox
{quote} i am looking at h4. last month high low fib 78 reversal target fib 50 first. {image}

I agree, gold also reached daily OB, so its kind of risky but the potential risk reward outweights the potential small loss for me.
HTF is kinda sketchy yes but theres still little gap on h4 to fill + also touched h4 bullish ob. I just cant ignore that yesterdays low liq grab.
I usually hedge in these kind of situations as lower timeframes offer so much zero drawdown opportunities everyday - so the short term trade potential losses/testing the waters positions will be covered later on with the more long term view/swing trade (short) positions if loss happens to be made. If lower timeframe positions start to rally in my favor then I usually have chance to put longer term positions into BE and/or add more later on with better fill price.

H4
Attached Image (click to enlarge)
Click to Enlarge Name: gold 4h.png Size: 76 KB
  • #351
  • Feb 11, 2022 5:21am Feb 11, 2022 5:21am
from what i observed on volatile pairs like gold, gbpaud, gbpjpy.

only consider any costs averaging when price had move around 70 pips against you.
provided that you still believe your direction bias with small lot size.
exit loss when it hit present week profit or also including previous week profit, depending on your pain threshold.
ITB - Seeing Orderliness amongst 'Randomness'
  • #352
  • Feb 11, 2022 5:29am Feb 11, 2022 5:29am
after 200 pips move, the consolidation from london open ...... and it's friday.
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-02-11.png Size: 8 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #353
  • Feb 11, 2022 5:34am Feb 11, 2022 5:34am
Quoting Inthebox
{quote} this is the heart of the matter: 1. week / day / session high resistance, low support where liquidity had been taken. 2. below resistance / above support, look for retracement to fair value gap after intraday market structure shit. {image}
Hey ITB, regarding point 2 I see that many candles, in this example, tap into the FVG, which will to take a trade on? Not sure what confirmation candle is (maybe an engulfing?) For visual purposes, I enter based on a tap of the previous OB, but I might try entering with the OTE in this case, not sure if you use that concept.

Best,

djsmig
  • #354
  • Feb 11, 2022 6:22am Feb 11, 2022 6:22am
Quoting djsmig
{quote} Hey ITB, regarding point 2 I see that many candles, in this example, tap into the FVG, which will to take a trade on? Not sure what confirmation candle is (maybe an engulfing?) For visual purposes, I enter based on a tap of the previous OB, but I might try entering with the OTE in this case, not sure if you use that concept. Best, djsmig
check out 2022 ict mentorship ep5 in youtube channel for all details.
no need confirmation. just enter inside fvg. if you want, put a stop loss.
important thing is trade at the right time when there is buy sell stops.
ITB - Seeing Orderliness amongst 'Randomness'
  • #355
  • Feb 11, 2022 6:26am Feb 11, 2022 6:26am
Quoting Chrissk
{quote} I agree, gold also reached daily OB, so its kind of risky but the potential risk reward outweights the potential small loss for me. HTF is kinda sketchy yes but theres still little gap on h4 to fill + also touched h4 bullish ob. I just cant ignore that yesterdays low liq grab. I usually hedge in these kind of situations as lower timeframes offer so much zero drawdown opportunities everyday - so the short term trade potential losses/testing the waters positions will be covered later on with the more long term view/swing trade (short) positions...
Well, first (Asia + todays high) + second FVG target reached but not enough deep pullback to enter for me, not even a 50% retracement, meh trading it is.

Attached Image (click to enlarge)
Click to Enlarge Name: gold 30m 11.02 3.png Size: 63 KB
  • #356
  • Feb 11, 2022 6:36am Feb 11, 2022 6:36am
https://www.cnbc.com/2022/02/11/bide...th-russia.html

i dont see gold much though it can push gold to higher highs
"Exchange of hands"
  • #357
  • Edited 1:16pm Feb 11, 2022 12:55pm | Edited 1:16pm
Quoting Chrissk
gold 30m - more gas left for longs and next week back to potential shorts? Pretty cute liq. grab into yesterdays low followed by bullish impulsivness. Asia high still left untouched and alot of yesterdays imbalances to fill. {image}

Quoting Chrissk
{quote} I agree, gold also reached daily OB, so its kind of risky but the potential risk reward outweights the potential small loss for me. HTF is kinda sketchy yes but theres still little gap on h4 to fill + also touched h4 bullish ob. I just cant ignore that yesterdays low liq grab. I usually hedge in these kind of situations as lower timeframes offer so much zero drawdown opportunities everyday - so the short term trade potential losses/testing the waters positions will be covered later on with the more long term view/swing trade (short) positions...

Quoting bilal1947
https://www.cnbc.com/2022/02/11/bide...th-russia.html i dont see gold much though it can push gold to higher highs

Gold took that vaccine booster again I see , highest target for me - H4 gap filled along with -1 Fib nicely. NY session gave a nice punch along with London close.
On a serious note though yesterdays low/high liquidity grabs cannot be ignored when opposite structure gets broken after that along with time (session), really powerful!

Broke significant structure impulsively after stop hunt several times, retraced back to golden zone (NY first hour fakedirection & beautiful 70% retracement) to take out some more sell stops that got build inside London compression zone (LTF triple bottom/equal lows) just above FVG, then fill most of that FVG and then rally into new highs. Missed the limit order by a few pips but no harm in that since I wasnt behind the screen, still good to see thing playing out well.

As ICT stated multiple times also "if Youre looking/have idea in mind to long - look for sell stops taken out first and then look for potential buys" and vice versa with shorts.

gold 1h

Attached Image (click to enlarge)
Click to Enlarge Name: gold ny 1h.png Size: 74 KB
  • #358
  • Edited 9:11pm Feb 13, 2022 9:00pm | Edited 9:11pm
break support if there's going to be de escalation of war.
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-02-14.png Size: 13 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #359
  • Feb 14, 2022 8:25am Feb 14, 2022 8:25am
gold daily advanced QM - fill fridays fvgs?

Attached Image (click to enlarge)
Click to Enlarge Name: golddaily 14.02.png Size: 81 KB
  • #360
  • Feb 14, 2022 9:27am Feb 14, 2022 9:27am
watching
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-02-14.png Size: 8 KB
ITB - Seeing Orderliness amongst 'Randomness'
0 traders viewing now