Bella's Blue (Cable)

Cancelled this Pending Order. (Time is elapsed what i was expecting )

Order Revision:
There is only 1 market order running

Take profit is set to 1.24922

General Indicators ( Daily )
MACD (8,17,9 ) : Short
STOC (8,3,3) : Sideways
Trend Following EMA (24 ) : 1.24928

Blue (15 )

Currently , i am looking to take out partial lots 0.15 at Yesterday High 1.23451 lvl . On the chart you also see Projections that starts from yesterday's low 1.22341.

Blue

Scaling into Position

Adding one more long with same SL

Long GBPUSD : 1.22547
S/L : 1.22321
T/P :1.24922

Currently there are 2 Orders.

Blue 15

I am still saved , Bulls are working hard as (we) , protecting the 1.22321 level
on the chart you can see both orders

order 1 : Long @ 1.22768
order 2 : Long @ 1.22547

I will divide this later as the market progress ( depended on my SL to forecast )

Blue

Very interesting stuff ( 1.22321 )

We as (Bulls ) still trying to protect the level , this chart all indicators removed to check

So Bulls you brought the whole Team to support my Premise....

Let's do this one more time

I closed the long 1.22768 for +7 pips due to having a better entry price .

Bella's Blue Journal
Started : 18.09.2023
Journal Total = +86 + 7 = +93 Pips

Last Updated : 22.09.2023

Currently there is just one order long at 1.22547 sl 1.22321

Closed 0.15 for +24 Pips

0.15 in hand

Bella's Blue Journal
Started : 18.09.2023
Journal Total = +93 + 24 = +117

Last updated : 22.09.2023

Blue 15

Planning is to hold this positions which is now partial 0.15 into weekend . There is Price Objective of 1.23783 which is eyed for next week if the S/L holds

Blue

Bella's Blue Journal
Started : 18.09.2023
Journal Total = +117 - 22 = +95 Pips

Last Updated : 22.09.2023

Good Morning,

It is 22 Deg Celsius with Humidity 54%, Wind 3KM/H , Precipitation 1% , whatever it means .. ( back at home we just say it is good weather )

When i look at last week trading there were some good days and bad days over all it is net profitable +95 pips for the week which is not that bad coping with the fact that i require my total of the month to be greater or equal to 200 pips. ( Trading GBPUSD only ). I use 200 Pips as a standard notation for my monthly performance. ( which i discussed last month end with the Total )

There is some work to do with Blue ( model v1.8 ) which is not completed and when it is done i will start working on beta v1.9 .

Moving on
i will do some work on Blue and then need to get out of the house and do something different with friends like..

a.cinema
b. disco
c. flavored sheesha parlor
d. pool table saloon
( i vote for d or b )

I have to spend my days on this wonderful planet doing forex ( trying to become a forex trader which is not why i am here but while i am here , Going to end my first year this week ) until my beautiful dear mothers decides it is over and i require vacations at home where Grass is Green and Girls are Pretty.

Guns'n Roses (Paradise City) - i dedicate this song to Themsiciriya
https://www.youtube.com/watch?v=yGSsfsYzHGw

Money Management



In this post i will just talk about Money Management which i wanted to write about last week but due to working on Blue 15 i postponed for this weekend.

Topics are .

 

1. Individual Trade Risk
2. Trading Session Money Management
3. Business Money Management
4. Graduated Approach to Increase Size
5. Income to maintain life

I will touch upon each of this topic from my own perspective , This business requires that you spend time doing some management tasks for your Trading Business.

( this weekend Business Money Management )

Business Money Management.

So you want to become a Forex trader and you started this business with say 10,000 USD with a reputable broker after a research about them that they are legal entity , have licenses , where they keep your money? . What is their bankruptcy policy? ,and how they perform with negative balance problems ( they shouldn't have this type of issue ) , Slippage , Spread ( max and min ) etc etc . You should always have emergency numbers of the broker and account representative which you can always contact.

According to my perspective you should stop trading at 20% draw down . You should take this opportunity and review your trading plan , review your trading performance ( now use the benefit of hindsight and go back to simulation environment ).

why 20% ? cause this proves you don't have skills to perform this job!. Go back to step 1 and re-start with simulation environment and review your trading plan.

Please note that you need to put back 20% from some other sources before you can re-start your trading business such as ( some external job , external business etc etc ). You also need to prove your self at simulation environment that you are now profitable before re-starting the trading business.

One important thing is learn to Forgive your self don't take stress this is professional business , you are the enemy and you are the friend , you will make mistakes which is normal , learn from your mistakes and learn to Re-Group.

Always Learn to Re-Group that contains

a. Confirm your status Flat
b. Clear your mind
c.Review the trade
d. Review any errors
e. Accept it
f. Forget it
g.Focus

You could definitely create a Procedures Manual which contains things like
1. Trading Setups ( detailed setups with entry / exit , Risk Reward of your trading strategy )
2. Emergency Contacts
3. Screen Setups
4. Routines ( pre , during and post sessions )
5. Contingency Management ( things like how will i re-fund my trading account 20% if i loose that in market , ISP , Violation of Rules, Incorrect Order Entry,Fatigues and Illnesses etc)
6. Actions and Affirmations ( you know those AA statements , Regroup , Analysis , Trend , Patience etc )
7.Motivational Material ( such as Mango Milkshake , Bonjovi / Guns' n Roses , Thunder ,Beautiful Mothers , Monthly Targets etc ) This is my case
8.Longer Term Reviews ( Weekly , Monthly with Win% and WLSR - Win Loss Size Ratio that is to Maintain Profit Factor greater or equal to 1.5 after excluding all breakeven trades , we are talking about Profit Factor that is total profitable trades / total loss trades ratio for a a period of time >= 1.5) this is also my perspective.
9.Stats ( Always keep stats of your performance , stats of your setups , Win% , WLSR , create categories if you need for each setup )


Bella.

Good Morning,

I am back on my trading and development desk and drinking my milkshake , Yesterday was good enjoyed the pool table and after midnight went to Disco where all of us went crazy and drank alcohol , danced and had lots of fun. I received some good news that is friend of mine who was engaged for 2 years are now deciding to get married . As usual i got that look and someone asked what are my plans of marriage ( of course i don't want that Australian wife which was misunderstood due to Indiara , it's a long story ..... ).

But i had to say something so i contacted the GOD which as usual will not help even though he loves me and when i told him i need to give some answers , he looked into my eyes and said Go with Plan C.

So i told the friends something about this senorita ( find below ) in a way they understand she will come (hopefully not ) when the right time comes.

To that neighbor which never arrived to live beside me and i hope she never comes in future

Your hair waves undone and shine , Your hands slipping from mine , mischievous saline in your eyes tells me the same story every night.

Senorita
https://www.youtube.com/watch?v=VKC_hzJ3jzg

Getting ready for the market ... ( a bit sleepy after working the day on Blue .. Lets do this )

Model : Mark IV ( Blue 15 , beta v1.8)
Sub systems coming online
Indicators are aligned and Ready
All System Initializing.... Done




Dedicating this song to the situation and Blue ( Roxette , The Look )
https://www.youtube.com/watch?v=k6WLbh6tDXk

Strategy / Entry Level

Long GBPUSD : 1.22462
S/L : 1.22248
T/P : 1.25347

Continuing from Friday , i am expecting the low 1.22301 will hold .. risking 21 pips to test this support

Adding the chart that goes with the trade above.

H4 = 1.22708 is the Bullish breakout zone today,
Weekly Pivot : 1.22964 is re-test of resistance

General Indicators ( Daily )
MACD (8,17,9) = Short
STOC (8,3,3) = Sideways
Trend Following Ema (24) = 1.24691

Blue

-4 pips as i write this rate : 1.22420

I adjusted the s/l to 1.22279 strictly speaking no need to give extra space now risking 18 pips. 1.22301 is line in the sand for me

Support where expected above the 1.22301 level . Lots of resistance at H3: 1.22526 where usually responsive sellers are found.

Rest is same H4 1.22708 Breakout expected today ( depended on my sl to forecast )


Mark IV