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@imjoshbrown - Live Trading

  • #1
  • First Post: Edited Aug 10, 2024 10:07am Nov 10, 2023 8:43am | Edited Aug 10, 2024 10:07am
Hello Everyone!

I'm Josh, and I first got started day trading after randomly meeting an individual in my social media feed that flaunted the luxury and freedom he was living in, thanks to ForEx. Being young and entrepreneurial minded, I hopped straight into it without a second thought.

It wasn't until several months later that I became aware of the various conflicts of interest between the "guru", myself, the broker he introduced me to, and dealing desks that facilitate spot forex trading. I spent a lot of time researching and putting the pieces together. In fact, this "guru" has been recently charged by the CFTC for a fraudulent solicitation scheme.

Due to the high volume of demo users with over-leveraged trading accounts caught up chasing a dream lifestyle, the purpose of this thread is to simply journal as proof of my real, live, manual trades. I will be publishing my verified myfxbook account link in a few months. Also, I hope to help you learn more about the conflicts of interest, as I have.

(I will be updating this initial post over time, I want to provide more context as to who I am, my trading approach, etc.)

Posting Etiquette:

  1. Subscribe: If you find this thread helpful, please subscribe to stay updated with each post!
  2. Be Respectful: Please keep the conversation respectful and considerate. We're all here to learn and grow.
  3. Stay On Topic: Try to keep discussions relevant to forex trading, specifically related to the themes and trades I'll be discussing in this thread.
  4. No Spamming: Please avoid posting spam or off-topic links. Let's keep the thread clean and focused.
  5. No Advertising: This space is not your platform to sell things. Any sales or marketing-based posts will be removed and you will be banned from the thread, no questions asked.
  6. Constructive Criticism: Feel free to share your thoughts and constructive criticism, but do so in a way that contributes positively to the discussion.

Looking forward to sharing and learning with all of you!
Best, Josh

Discouragement is the language of the devil. Results over hype.
  • #2
  • Nov 13, 2023 1:15pm Nov 13, 2023 1:15pm
+88 Pips - EURUSD Long
I've been following EURUSD awhile and booked 88 pips going long off the 800 EMA, which coincided with my my 30-pip stop-hunt zone toward the EURO - US changeover. Initially, I thought a retest of lower levels was unlikely considering all day Friday the dealer was working the low, which often commits traders in the wrong way at the extremes. I got stopped out attempting to buy off the 200EMA inside Asia's session, as the Euro session ended, but hopped back in! It's apparent now that the dealer was accumulating a high volume of long orders in the zone, and needed to "clear the board" so to speak, in order to make the ensuing uptrend as cheap as possible. I like to capitalize on these intraday imbalances which occur often (not everyday!). It involves a lot of patience, and very specific conditions to occur simultaneously which give the highest win ratio. Awesome day!
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Discouragement is the language of the devil. Results over hype.
  • #3
  • Nov 14, 2023 7:20am Nov 14, 2023 7:20am
Quoting imjoshbrown
{quote} The setup is heeeeere! (again) Let's see what the Euro open has in store! Death cross present Peak formation low visible to the left (couple other things I don't share) SL 15 Pips outside entry. I am pretty sure the market is going to rise, but I am holding my bias so long as the timings, and price action remain valid. {image}
+59 Pips - EURUSD Long
I called it several hours ago, and II just closed out all long positions on a swipe board Europe's high, because a few major news releases are coming out on USD. I am not in the business of 50/50 trades, and men though they could go higher, I'm out. Greed ruins good trades!
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Discouragement is the language of the devil. Results over hype.
  • #4
  • Nov 26, 2023 2:14pm Nov 26, 2023 2:14pm
Broker closed my account. Unfortunately I know too much to be allowed to trade with them.
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Discouragement is the language of the devil. Results over hype.
  • #5
  • Nov 26, 2023 3:07pm Nov 26, 2023 3:07pm
Quoting imjoshbrown
Broker closed my account. Unfortunately I know too much to be allowed to trade with them. {image}
Why??
I have no clue where it's going
  • #6
  • Dec 22, 2023 11:41am Dec 22, 2023 11:41am
Quoting LifeRider
{quote} Why??
I inquired into their self-preservation tactics based on conflicts of interest between retail traders and dealing desks.
Discouragement is the language of the devil. Results over hype.
  • #7
  • Jun 18, 2024 6:35am Jun 18, 2024 6:35am
hey man where'd you go, im interested in learning from you and your methods
  • #8
  • Aug 8, 2024 9:21am Aug 8, 2024 9:21am
Quoting Volat
hey man where'd you go, im interested in learning from you and your methods
Apologies for my silence, I was busy with some other matters. Back at it!
Discouragement is the language of the devil. Results over hype.
  • #9
  • Aug 8, 2024 9:24am Aug 8, 2024 9:24am
Shorted EURGBP against the trend.

I was in a little early, as I traded the market right after the exchange rate broke yesterday's high the first time. At the start of the European session, the dealer extended the high one last time and then dropped. It could have been a better trade but I'm happy where I'm at!
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Discouragement is the language of the devil. Results over hype.
  • #10
  • Aug 8, 2024 1:00pm Aug 8, 2024 1:00pm
Quoting imjoshbrown
Shorted EURGBP against the trend. I was in a little early, as I traded the market right after the exchange rate broke yesterday's high the first time. At the start of the European session, the dealer extended the high one last time and then dropped. It could have been a better trade but I'm happy where I'm at! {image}
Closed EURGBP short with 50.0 pips profit.

I was hoping to picture-perfect close at the ADR low, but hey, 50 pips is 50 pips! No room for greed here.
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Discouragement is the language of the devil. Results over hype.
  • #11
  • Aug 8, 2024 4:02pm Aug 8, 2024 4:02pm
Quoting imjoshbrown
{quote} Closed EURGBP short with 50.0 pips profit. I was hoping to picture-perfect close at the ADR low, but hey, 50 pips is 50 pips! No room for greed here. {image}
Aaaaaaaand just like that - ADR high reached. Great day!
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Discouragement is the language of the devil. Results over hype.
  • #12
  • Aug 9, 2024 12:11am Aug 9, 2024 12:11am
Looking ahead! EURGBP - I'm anticipating opportunity to short sell off the 50 EMA toward ADR low, in a break out to the downside.
Peak formation of the week put in Monday, and on Tuesday price action taunted but respected it, indicating 'momentum' to the upside. Wednesday a multi-session "M" developed and I project another day of drop to end the week back toward Monday's open. It happens all the time. The first half of the week, the market trends 250 pips, then reverses 400+ pips, then reverses to end the week back where it opened.

Markets do this all the time in order to remain healthy. You just need to familiarize yourself with the cycle and key positions to participate. Become highly selective! A short off the 50 warrants a 15-20 pip stop outside the range, and if the dealer has the volume jammed like I believe it is, they will not go for my stops. They don't fear me - I'm just daring to align my trades with them!
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Discouragement is the language of the devil. Results over hype.
  • #13
  • Aug 9, 2024 7:55am Aug 9, 2024 7:55am
Quoting imjoshbrown
Looking ahead! EURGBP - I'm anticipating opportunity to short sell off the 50 EMA toward ADR low, in a break out to the downside. Peak formation of the week put in Monday, and on Tuesday price action taunted but respected it, indicating 'momentum' to the upside. Wednesday a multi-session "M" developed and I project another day of drop to end the week back toward Monday's open. It happens all the time. The first half of the week, the market trends 250 pips, then reverses 400+ pips, then reverses to end the week back where it opened. Markets do this...
Mitigated losses on the swing high, Asia's sellers are being stop-hunted. If price action closes back below Asia's high, we're going to be in a good spot. TP @ ADR low.
Another reason for my re-entry is the wicks forming on the 15M chart. (Where I execute the majority of my trades) - price action broke the high, then pulled back. Then, they broke it again, showing solid green outside the high, closing as gravestone doji, with a long wick to the upside. This third swing high coincides with the second hour they've worked the high - if you switch to the 1H chart, there's a distinctive wick on the last hour. If they close this hour's price action back below the 0.85681, it's rational to believe that a reversal is likely - especially now that we're heading into volatility as the European and US sessions are changing over.

Happy Friday y'all! Never hold over the weekend!

Edit:
Stop loss 15 pips outside the extended high of the day.
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Discouragement is the language of the devil. Results over hype.
  • #14
  • Edited 8:55am Aug 10, 2024 8:12am | Edited 8:55am
Quoting imjoshbrown
{quote} Mitigated losses on the swing high, Asia's sellers are being stop-hunted. If price action closes back below Asia's high, we're going to be in a good spot. TP @ ADR low. Another reason for my re-entry is the wicks forming on the 15M chart. (Where I execute the majority of my trades) - price action broke the high, then pulled back. Then, they broke it again, showing solid green outside the high, closing as gravestone doji, with a long wick to the upside. This third swing high coincides with the second hour they've worked the high - if you...
I was sloppy and impatient - and although I was able to recoup most of my losses, I have work to do.

I started the day with a short just at the start of the European session, anticipating the market to drop immediately (textbook breakout) and trend until sometime in the American session. Out the gate, it was looking great. price broke yesterday's low, remained below yesterday's low and then made a pull back. I wound up closing that trade with ~8 pips loss. I took a 2nd short, on the retest of Asia's high of the day. my FOMO (fear of missing out) influenced me to take the trade and I was impatient. The dealer broke that high and hit the 15 pip stop hunt mark (golden dotted-dashed line, it's an auto-calculated number based on my strategy), coinciding with a 200 EMA before finally correcting price where I got that third short in. Dealer was ricking the stops of shorts! I closed after recouping most of my losses, (I was pretty bummed at my performance and can handle a ~3 pip dip in the account). If I stuck with my initial strategies (Short out of the Asia session, (then moved my stops out in front of my trade), then, waited until the stop-hunt high to attempt another short) the day would have been different.

"Would have" "should have", "might have" - it always works out in hindsight - the real question is will you do the same thing and expect different results, or learn from your mistakes? Have a great weekend y'all!
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Discouragement is the language of the devil. Results over hype.
  • #15
  • Aug 13, 2024 1:34pm Aug 13, 2024 1:34pm
This pattern happens all the time, you need to learn how it looks across the currency pairs.
Accumulate, stop hunt, brakes, trend.
Or,
Accumulate, shift, brakes, trend.

This was the first one:
1: Asian session: Price consolidated in an 11-pip range, and, naturally, an imbalance in order flow (longs to shorts) develops on the dealer's books.
2: Europe session: After this volume develops (indicated by the 'balanced' distribution curve in Asia, the European dealing desk flashes their in equity to the downside, against the higher volume of accumulated long orders (due to directional bias, textbooks 'educating' retail traders to do x if y happens- not to mention, these books are mostly written by brokers and dealing desks that lose when you win - you really want to take their advice?). This isn't a 'breakout' - This is a dealer-driven stop hunt.
3: America session: After the European dealer clears the board of accumulated longs, comes to a stop, and then holds, the price action convinces many traders to take the breakout, for fear of missing out (FOMO). People panic in short. Have you ever been stopped out, then you changed your directional bias, only to be right the first time, just in too soon?. (there are setups in which this is appropriate, but you have to learn the setup!)
Anyways, the US dealer trends after the board is cleared, jamming lower level sellers that have lifted their stops and are being dragged out of their money.

Waiting until the brakes AFTER the stop hunt, is where the money is made. And you keep it by not chasing things, emotionally.

I mark it up based on my trading indicators I developed years ago - after being mentored by a retired broker who worked as a Market Maker/liquidity provider in the ForEx market. I hope it helps, and DM me if you want clarification! I'm happy to help.
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Discouragement is the language of the devil. Results over hype.
  • #16
  • Aug 13, 2024 1:56pm Aug 13, 2024 1:56pm
Quoting imjoshbrown
This pattern happens all the time, you need to learn how it looks across the currency pairs. Accumulate, stop hunt, brakes, trend. Or, Accumulate, shift, brakes, trend. This was the first one: 1: Asian session: Price consolidated in an 11-pip range, and, naturally, an imbalance in order flow (longs to shorts) develops on the dealer's books. 2: Europe session: After this volume develops (indicated by the 'balanced' distribution curve in Asia, the European dealing desk flashes their in equity to the downside, against the higher volume of accumulated...
So are you saying that the current move in EURO is a new trend?
  • #17
  • Edited 9:38pm Aug 13, 2024 8:53pm | Edited 9:38pm
Quoting vinesh1
{quote} So are you saying that the current move in EURO is a new trend?
Hello! The intent of my previous post is to help fellow traders understand the nature of change in the ForEx market, on an intraday basis.

Edit:
To answer your question - it's probable. But it all depends on where we are in the cycle through the week, & how price action develops.
Discouragement is the language of the devil. Results over hype.
  • #18
  • Aug 14, 2024 2:37am Aug 14, 2024 2:37am
Quoting imjoshbrown
This pattern happens all the time, you need to learn how it looks across the currency pairs. Accumulate, stop hunt, brakes, trend. Or, Accumulate, shift, brakes, trend. This was the first one: 1: Asian session: Price consolidated in an 11-pip range, and, naturally, an imbalance in order flow (longs to shorts) develops on the dealer's books. 2: Europe session: After this volume develops (indicated by the 'balanced' distribution curve in Asia, the European dealing desk flashes their in equity to the downside, against the higher volume of accumulated...

Just saw your post and am happy to follow and learn from your insights. Thanks for sharing and please, keep sharing what you see.
  • #19
  • Aug 20, 2024 4:43am Aug 20, 2024 4:43am
Looking for an opportunity on EURUSD long:

Dollar index is showing overall weakness. Looking for a stop-hunt low outside Asia's range before the next trend in price. Stoploss long indicator is showing tight stops just outside Asia's low - placed a pending order long on the 1.10694 w/ stops 15 pips outside the low. If there's a greater pool of liquidity around the 1.10544 area, we'll see price action stoop lower - would take an another long off that price if the opportunity presented itself.

Anytime markets trend, you never trade the consolidation zones - people say "trade the rest before the run" - that's all FOMO crap - let price action run its course, don't be in too early, and wait for the stop hunts to occur, then hit it!
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Discouragement is the language of the devil. Results over hype.
  • #20
  • Aug 26, 2024 7:05am Aug 26, 2024 7:05am
GU: Trading the stop-hunt.

Asia session had completed in a nice controlled range, 1.32094 becoming the point of control.
The first swing low (maroon) was a mild, 15-pip stop hunt outside the range (1.31944). Weak longs stopped out and price continued to dilly-dally in the zone.
Mid-Eurpoe, the market swung another 10-pips to the downside, breaking the perceived intraday 'support' (purple).
Euro-US changeover hasn't occurred yet, but we're wrapping up the session and the dealing desk flashed their equity once again to the downside, this time hitting the 1.31794 zone, completing a 30-pip stop-hunt.

If the market is long, we'll see a swift reversal in price to the upside, now that the dealer has handled accumulated longs during Asia's session, clearing the books and hedging against the 10% that actually understand this. (referencing the 90/90/90 phenomenon/rule)
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Discouragement is the language of the devil. Results over hype.
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