MY Journal-phil13

ah yes... cult is ok... Just don't drink the kool-aid. Drink kopi instead...while watching the pigs get rounded up and taken to the slaughterhouse

Cheers to our good friend

Now you'll have to excuse me...Im going to put on my tin foil hat and grab my fishing pole I heard there's sharks in these waters

Phil,
Thanks for the video, it is quite interesting.
Knowing when to deploy my squad is one of the biggest problems I'm trying hard to resolve. For some time now, I have been modelling the attached charts but still haven't been consistent with the results I'm getting.
This is my understanding of the first chart (Chart 1)
Assuming the terrain is right for buying, I will scout at B and wait for PA to take out the sellers at A but that did not happen. I will scout again at D and wait for PA to take out the sellers at C but that did not happen. I will scout again at G but this time the sellers at F were taken out and PA made a new high at H.
At I, the buyers in G were able to hold PA and buyers took control with momentum PA. This is where my squad will be deployed. Is my understanding correct?

Now compare the above analysis with the second chart (Chart 2), why did you not deploy your squad in E as buyers in D took control and reversed the PA?

Sutiv

Hi Sutiv

sorry for late reply.

In picture 2, I tried a double entry twice that failed, but price was in a good area of interest to me, on the second entry I was more cautious and waited for a maybe better possibility of entry as I knew this would be my final try at this trade, hence the reason they are entered where there are, I am trying to hit bigger runs generally, maybe you are look at bigger or smaller runs/legs to try to catch, how you have broken my entries down using the other chart as a guide is not how I think when scouting a position out, the first chart is showing where and how often the same things repeat, I believe (I think) it was a M1 chart, I look for those areas in higher frames H1+, that is what can give me some good trades and show me what type of market I may be currently or about to be trading in, I can then adjust my approach accordingly, failed trades are great to learn from and if they only cost scouts then that is a tiny price to pay for 'getting it wrong' as we do now and again, so as our friend said many times, we must be flexible in what and how we do it.

In this video below, it is a good explanation of the trading journey and what we will all encounter, replace the 'words' of what the specific thing the video is talking about and allow your mind to relate it to our trading world.



Phil.


HAPPY XMAS EVERYONE.... ( FTI) ..... .

Phil,
Thanks for the explanation and video.
I think flexibility is the key factor in this business.

Merry Christmas to you and all my friends.
Sutiv

Hi Phil, you been M.I.A what you doing ? you still trading or taking a break ?