Simple way to read chart

1. Use continuous chart (min/max).
2. Watch where the polygon 'bulking' in some price level. Watch its edge too.
3. Mark those area as key level.
4. If any PA confirm for trade entry, Count point 5 & 6 Ratio, if acceptable then enter
5. Put your risk outside the 'bulk' where the PA happens.
6. Put your reward on the next 'bulk'.

Some example :

Another :

I'll post another periodically, to keep track for my own FX learning process.

There's two side risk on this one actually. I just take one.

The most common mistake that I often do. Greed is not good for my health :

Reached 25 live trades mark. 75 more trades till I decide to increase my risk from 1 to 2......................................... or back to demo :
I got this funny feeling that I'm starting to overtrade, sigh. Anyone ever feels like that? The uneasy and fear that you will slip and make huge mistake.

Hi,

Don't be used to this overtrade feeling here because i always have them and it will negative your mindset more, thus making you feel unconfident.

Keep up with the good work.

Anyway, how do you get that excel sheet where you record your profit percentage, etc? Do you make them yourself or you download from somewhere?

Thanks for the reminder morton.

I made the spreadsheet manually. But there is some freeware that can analyze your oanda transaction history. It's called fxhat. I tried using them, but I didn't get what I want. Basically they only count summary of raw pips, P/L, and equity curve. It does not show expectancy, kelly, risk per trade, win percentage, and stuff like that. Anyway fxhat is still on development stage, so I expect more to come in the future.

One thing that always bugging me, does pipcount really that important? I see many methodology focusing into pipcount as success parameter. But what kind of business it will be if it overlook downside risk?

Here's some scrshot of fxhat output.

Self note : Why mental/physical condition is important.

I've made a mistake. I had such perfect setup yesterday. All factor is favorable, but its myself that was on bad condition. Too tired from doing my other job. I closed one of my position with no logical reason at all. Can't allow this to happen again in the future.

Anyway, so far the method is showing good result, also my risk exposure strategy still work from keeping me making a big drawdown. reached live 38 trade with this method. 62 to go.

One of market condition that I hate. Can't make a good trade setup on this.
Both support & resistance are too close, so no favorable RR ratio can be made after any PA confirmation exist.

I see no point in continuing this for now. I've come to realize that the learning curve has no ends, and moreover I see many flaw in myself. I think its time for me to learn how to be a better person in real life, start from people around me. Deeply thanks to Jacko, DRT, and Twoblink for opening my eyes.

Anyway, heres the last result of this method.

SMALL IS BEAUTIFUL

Self note : keeping risk small has many advantage, especially keeping my self calm in executing trades, and making unbiased decision.

Equity curve shows that I blew it when i risk more