MY Journal-phil13

hi Alex, very sad to have have lost our Queen, the whole world is such a mess atm with these 'leaders' all playing their ego's off against each other and making the population suffer for it, to them it is power game but to us it is our lives they are messing with.

that aside it is good to hear from you again, feel free contact me anytime my friend.

i have tried to make the market price structure (MPS) change overs more visible for people interested in my journal and its charts.

how the week ended....

potential trade developing here so scout in to test the ground......

cont form above, i will now wait and show the outcome when this trade completes.....

out at breakeven as MPS changed....

let us see what happen with this set up.....

cont... from above, out at breakeven again, we get days like this.....

phil,

My day was like this too (trading Eur). Just a part of the job. Quick question though... what do you mean by order block? Is this just another term for liquidity area where suspected orders are waiting to be filled ( buyers/sellers, breakout traders, trapped traders looking to get out b/e, etc)? I haven't seen that term before.

I've noticed a couple new things... you're MPS that you are marking the highs in the downtrend and the lows in the uptrend, where as it was reversed before. Any reason for that? Im sure you still note both but just curious... Also, you're not using skews/attack/rescues (in terms of keeping multiple entries open) very much anymore. IMHO these have been some of your best posts since you've been back. Packed with lots of good info.


just wanted to share this link of a post on taf where fti talks about trading around news releases and how the MM use it to move price and fill orders at extremes
----> https://www.forexfactory.com/thread/...13#post2015413

reminds me of some of your recent trades around news times. thanks for creating a visual for everyone to put to fti's words. it really helps....trade well

Hi Dustin,

yes the order blocks are liquidity areas specifically they are areas where (often retail) have taken out bad positions at the end of a wave/run on the last bar, liquidity areas above all the highs and lows also including sessions/daily/weekly/monthly/yearly are generally where the duck hunts take place to fill the big orders, other areas of liquidity are around the MA's not the ones everyone are told to use but again the sessions/daily/weekly/monthly/yearly, the trick or art is to add in P/A at those levels for entries and exits to get the better trades also have you noticed in my charts often when the E's line up we get a good move, this to me anyway demonstrates there is some sort of order that can be read within the charts.
the MPS highs and lows, yes i changed them for a while to what was advised from my findings but it seemed difficult to quickly read so changed the back, as you say the other side is also important but only at certain types of P/A so now i just mark them in yellow to highlight these areas and it keeps the chart cleaner, when i am not showing how i trade i use/mark very few thing on M5.
i do far less trades now and really look for the bigger runs of 50+pips or more ideally, i used to use a fairly big account and would average around 2500 trades a month, but i have found only using 5k i can get just as much return with less trades by trading this way, i only really need 3-4 good trades a week, using the skews is a good way to teach you how the market works.
thank you for your kind words about my efforts to try to show what i have learned from fti.
btw .. the link does not work but i will have read the post a few times and suspect i know what you are on about my friend.
i have a pdf that explains and matches up well to fill in the gaps with fti's thread if you want it, i can send it to you via pm or email.

today's first trade....

next trade, pretty much a flip after the last one....

news soon so may wait for that now.

phil,

I revised my last post with the correct link and quoted the part I thought was relevant. Thank you for explaining about order blocks. I learned from your thread to pay attention to daily highs and lows and more recently session hi/lo and have noticed that they are generally areas of liquidity. often you'll see a daily high/low taken out just to reverse quickly. One of the first things I noticed when you were posting again is you were using the MA's and wanted to ask you about what parameters you were using to derive the averages. for example on the daily chart the monthly average would be the number of trading days in a month(20) and the yearly would be (20 x 12 ) etc??? Just curious.

I havent noticed the E wave thing. are you talking about when h1 is on wave EF and 5 min is entering EF? I will look into it. thank you

I will pm you my email address for the pdf. I would be extremely grateful. thank you and trade well

EDIT: I think your pm's are disabled =)

Hi Dustin,

i have enabled my pm for 'buddies only' now but i sent you a message.

the MA's, i use median (H/L2)EMA's .. just my personal preference.

M5
hourly=12
session=96 (8 hours)

H1
daily=24
weekly=120 (5days)
monthly=504 (21days)

D1
monthly=21 (this is why i have 504 on hourly, for quick reference)
yearly=260 (52weeks X 5days)

the charts about half hour before the news with what i see in them...


Alex do you want this file as well.

post news trade...

Yes please - I would love to receive the file.

Thanks

i have got the main boards today for my monitors and fitted them after the lightening strike nearby fried them, so i am up and running properly again and can see the charts how i like too.

i feel i have shown enough of the market price structure and how to basically trade it, from tomorrow i will change to introducing a simplified way of reading price action turns within the structure at non news times.

........

the trade from above but is going nowhere atm....

.......