On my way, LLorenzo journal

Solely trading PA, 5min charts, EJ.

Lets see if I can keep to this journal!

Leon

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Tonights trades.........

-2.5
-1.5
+14

So that gives me a total of +10 for tonight, Ill get some sleep and be back trading tomorrow(in 6 hours)
==============================================================

As I will do with all my trades, Below attatched is a Screenshot with the trades..........

best of luck!
Just remember to keep the charts naked and stay clear of 'shiney objects'

cheers,
Mick.

The way in which I am trying to trade is basicaly PA+momentum based. The charts that I post pretty much explaine what I am doing. Time will tell If I succeed. Any helpfull or encoraging Input is very much welcome as well as any questions anyone would like to ask, anything other that that please do not post, Ive had enough of the people who want to argue, lol.

Leon

Hi Mick

Thanks for the advice, That is certainly what Im trying to do. The only 'shiney objects' I want is money, lol. But on second thoughts, forget that, I prefer the paper money! Ive been checking out your journal thread, a v.good read.

Leon

I wont be posting many LT trades, but here is one I placed afew mins ago (very low investment on this one).
The stop is roughly 160pips on this trade, but I may close out before this is hit If I see some Bearish PA in the next candle, Personaly I could never make this my primary trading TF because of my need to see results right NOW, lol, Its just the way I am.

Here's the screenshot........

looks like old school method

Thanks Leon, now all I need to do is stick to what I write
I have been experimenting with PA as you know and I am finding it a more natural way to trade really, it's hard work but then again, what isn't?

Patience is probably another very important factor to be aware of with PA, the few trades I put on earlier today were in the 1-5m tf's, not my normal tf's as the swings do not produce enough pips but it was good value to watch the PA, I exited them all to come out only a few pips down, I'm long now but I really should have waited for the 15m to complete it's current PA, I may pay for my lesson yet again!

Anyway, good luck, I'll pop in and see how you are doing regularly and compare notes.

Hi,

Well, Ive got no idea what the 'old school' method was,
But if it works..........

Leon

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-1.4
-9 (stopped out)
-11 (stopped out)

note to self- WAIT FOR THE BARS TO CLOSE YOU IDIOT!

-4

starting to feel stressed-out now, deep breaths.... (-15.4 so far)

Something thats actually irritating me, When I was first thinking about trading this way I thought about putting my stops just below/above the entry bar, I decided not to do this and close the trades when I was feeling a little bad about the trade, But If I had sticked to those original rules I would have only lost 2 of the 7 trades Ive made from the begining of this thread. IF IF IF, its no use to me, lol.

-3.7
========================================================
Im having some complaints about the PA this morning off some of my trading m8s aswell, so maby its just unlucky.........

Time for a ciggy and a break I think

Here is the chart for the previous trades, Do I blaim the market? my tiredness? or just me?

Always looks so simple after the fact.............

The LT trade that I took for the GU earlier is now at 85 pips profit at the time of writing, so ive just moved My stop a little closer to my entry.

Chart below.........

UPDATE: Currently 100pips up on this one, Stop has been moved to BE, free trade.
UPDATE2; Locked in 80pips profit, If stop is hit(25pips away) I will look to re-enter when the Situation arises.

=========================================================
-7 (stopped out)

So far today since start im -26pips.

-12(SO)
-15(SO)
+12
+4
Total Result for the day so far -37pips.
=========================================================

This result has realy blown me away to be honest, and As can be seen in the chart below, I seemed to have lost my mind there for a while, very imaptient waiting for my setups, If I would have followed what I was suposed to It would hav been an Ok day. No excuses, need to learn to wait for sure.
Im going to call it a day for now........

But as an end good note..... I think this journal will surely help me out alot. And once I address my issues and learn to trust the Method, I will be much better off.

AIMS: WAIT FOR THE EXPLORING BAR CLOSES, IT WILL MAKE ALL THE DIFFERENCE.

chart is bellow for these trades.........

Nice one with the LT pound. It looks good very early which is a good sign, and i hope it gives big pips.

Decided to buck the winnings on the GU long I took earlier.

130pips profit.....

So on one hand I Lost 37pips over-all on my short term trades today, But made 130 on the LT trade, In value of possition size i would say im about 50pips up for the day as a result.

Could have been much better, but there is always time to improve!

Below is the GU long.........

Ok, lol.

It seems I had enough drive to keep my thread/journal going for a whole 1 day, vey shamefull of me.
Due to it being Christmas time and having things to do i completely forgot about it, but considering the point in this is to help myself become a good trader and realise my mistakes I am once again going to try and keep this going.

Since My last post in here I have spent time talking to other traders I have known for a year or so, trying to get some perspective.
One of the revelations I have had is that trading is truely not a science, it is much more about understanding the feeling of the market or the rythem , and then as your last step you cement your agreement with the market by trading with it. Although, like all people in life(the market is afterall just a collection of opinions) they sometimes disagree.

Something else that has seriously helped me keep in tune with the market, is very simple but helps enormously. It is using a fixed scale rather than the changing scale option on MT4(especialy for lof TF's). What I do is go back to a trending period in the chart and and then fix the scale at that point.

Some of the most usefull things I have found recently regarding trading are the following.....

FTI's thread
and the V-hands trading EA for MT4.

Like before I will be documenting my trades here, all before the fact, as I started to do so when I opened the thread. And will have a total count of pips gained/lost at the bottom of each post.

Wish me luck.

Good trading

Leon

Here we go.........

I started looking at this on about thursday of last week, the trade has not been placed yet but I will do at the begining of this session open.
The trade will be a short, stop at the single red line and TP at the double red line. I would have usually aimed for the 161.8, but considering the support down below that is not the case in this trade.

Regarding the best way to document my progress I am going to keep seperate pip-counts for each TIMEFRAME traded and I will start from the figure I was at in December. This way I will be able to see if I perform better trading certain TFs.

Leon

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5min/ -37pips
1day/ +130
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