Complex TA; The Road Of An (Igrok) Apprentice | Forex Factory

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Complex TA; The Road Of An (Igrok) Apprentice

  • #1
  • First Post: Edited Jan 16, 2009 8:18am Jan 5, 2009 8:05am | Edited Jan 16, 2009 8:18am
Splendid idea to create a journal ! I do keep records on old-fashion paper too but since I'm slacking around on FF all day (trading is still a lonely game) this might be a bit more constructive for my trading.

I've been practicing complex technical analyze (named from the author, Igrok) for almost 1 year (serious only for the last past months) and my mouth is all wet from all the stuff I've managed to pick up and trade myself ! This journal is strictly based on what I've learned from Igrok;

  1. Session templates focused on Europe (opening) session.
  2. Trendlines, S/R
  3. Price-patterns

MM; 1% of the account on each trade. Based on monthly performance, risk % will chance. Coming back with more info.

I see the great need to improve myself, not the system so I'm putting up a tool to measure personal performance each week in order to help me realize where I can improve. Asking myself what would be useful to measure and looking over what problems I seem to have, I came up with this suggestions;

  1. Trade selection/preparation. What trade did I choose and what seize should I enter the market with (risk-factor/MM) ?
  2. Flexibility. How effective/constructive will I process new information given by the market? I.e new potential SL or TP.
  3. Trade exit. Where would I place my SL and TP
  4. Mental state. How calm did I act throughout the trade and did my feelings affect the outcome in any way?

Score of 1-5 where 5 is the highest and the total sum would be 20. 10 points total would mean mediocre, below poor and above not too bad. 15-20 would be my weekly goal.

Please keep in mind that this is a journal, so any posts should be aimed thereafter.

Measure twice, cut once
  • #2
  • Jan 5, 2009 8:19am Jan 5, 2009 8:19am
A miscalculation in the ATR gave me 24 pips extra. Disgrace ! I need to wake the hell up and I truly believed idiotic mistakes like that was long gone ! Anyway, I got away with the error, this time, and took an 2.2% return.
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Measure twice, cut once
  • #3
  • Jan 5, 2009 8:28am Jan 5, 2009 8:28am
There is no point posting account details too from now on, as I'm not trying to "impress" anyone, am I ?

I take first TP at 60 pips when trading from TL and I let rest run on TS. Works good for me so far.

Took 1/3 of position @ 60 pips (0.5%) and rest got stopped out a few pips higher (1%) yielding 1.5%.
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Measure twice, cut once
  • #4
  • Jan 5, 2009 8:31am Jan 5, 2009 8:31am
Nice to see a really good trader opening a journal that i surely will check every day each day. Respect and many pips in 2009! Cheers buddy!
  • #5
  • Edited Jan 6, 2009 2:13pm Jan 5, 2009 3:35pm | Edited Jan 6, 2009 2:13pm
Thanks, and same to you

Shorted eur/usd on 3 touch. Not any high-probability scenario (low liquidity) but a 15 pips SL in risk for 50-60 pips is ok enough. The downtrend seems rather strong too so worth a shot.

Update; Great trade These are the setups I want to exclude. I know Igrok didn't take that trade so why should I waste my money when better probability is just around the corner? -0.7%.

Monday; +3%
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Measure twice, cut once
  • #6
  • Edited 7:48am Jan 6, 2009 7:06am | Edited 7:48am
18.4b I thought. But the range was too large for fitting into 18.4. Rushed into this trade.

update 1; I changed my SL to behind a valid TL on lower TF. It got hit and stop and reverse are now in play. -1.9%. Seems like a lot to lose on 1 trade but I just cancelled my buy order at the TL so the risk wouldn't increase.

update 2; SL hit, -2.9% total.
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Measure twice, cut once
  • #7
  • Jan 6, 2009 9:52am Jan 6, 2009 9:52am
Bought nzd/usd on the pull-back from flat sureface top. SL behind last LH.
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Measure twice, cut once
  • #8
  • Jan 6, 2009 10:33am Jan 6, 2009 10:33am
I didn't reverse after my cable short got stopped out because of FEAR of losing yet another position. I didn't know I still had fear in my mind while trading, but I do. I also seem to perform awful after long vacations when it comes to discipline toward the system.

Thanks to my fear, I didn't get the 180+ move on cable which would've turned my daily - % into + %.
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Measure twice, cut once
  • #9
  • Jan 6, 2009 2:10pm Jan 6, 2009 2:10pm
nzd/usd update; 2/3 closed (+1.2%) at 60 pips. Letting rest ride on 55 pips TS.
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Measure twice, cut once
  • #10
  • Jan 6, 2009 2:13pm Jan 6, 2009 2:13pm
Looking good aediaz1 I miss your analysis on geppy like back in the day when i was completely lost but you wast keeping things tight in your old thread, all based on simple lines
  • #11
  • Jan 6, 2009 2:18pm Jan 6, 2009 2:18pm
Quoting belekas
Looking good aediaz1 I miss your analysis on geppy like back in the day when i was completely lost but you wast keeping things tight in your old thread, all based on simple lines
I could've ended this day very good if I just followed my damn simple rules ! I wish someone could hit me hard where it hurts when I do simple mistakes, but unfortunately that option is not available :/

Hehe, good to hear than one is not totally forgot around here. I'm not that active any more but I promise to drop at least one chart in your journal
Measure twice, cut once
  • #12
  • Jan 6, 2009 2:25pm Jan 6, 2009 2:25pm
Quoting aediaz1
I could've ended this day very good if I just followed my damn simple rules ! I wish someone could hit me hard where it hurts when I do simple mistakes, but unfortunately that option is not available :/

Hehe, good to hear than one is not totally forgot around here. I'm not that active any more but I promise to drop at least one chart in your journal
Your doing fine mate Well as for me, as my MM is not safe, dont ask me why, so im beying very picky about my trading. I see trades, really good ones, friends take them and end in great profit, but i just cant pull the trigger...I have my own style and found what really works for me now i need to overcome my own inner fear and i hope ill be alright. We have to follow our simple rules no matter what and keep the emotions out then we should be fine. I hope you drop in some hot stuff when you got time @ my cave

All the best.
Redards
P
  • #13
  • Jan 6, 2009 2:29pm Jan 6, 2009 2:29pm
Quoting belekas
Your doing fine mate Well as for me, as my MM is not safe, dont ask me why, so im beying very picky about my trading. I see trades, really good ones, friends take them and end in great profit, but i just cant pull the trigger...I have my own style and found what really works for me now i need to overcome my own inner fear and i hope ill be alright. We have to follow our simple rules no matter what and keep the emotions out then we should be fine. I hope you drop in some hot stuff when you got time @ my cave

All the best.
Redards
P
My MM have been awful last year, especially the first 6 months. Risking 1% with the potential to increase/decrease based on weekly performance should be fine.

With enough practice I'm sure you can do this. You've also learned vital stuff from Igrok so, as said, with some practice only the sky is the limit

Good luck !
Measure twice, cut once
  • #14
  • Jan 6, 2009 2:31pm Jan 6, 2009 2:31pm
Quoting aediaz1
My MM have been awful last year. Risking 1% with the potential to increase/decrease based on weekly performance should be fine.

With enough practice I'm sure you can do this. You've also learned vital stuff from Igrok so, as said, with some practice only the sky is the limit

Good luck !
Good luck to you as well my brother. Let this year bring joy to the ones that really deserve it. The sky is the limit! Cheers

ps. seems we dont have igrok believers around ff, just you me and jupiter_peak thats is mia...shame...
  • #15
  • Jan 6, 2009 5:45pm Jan 6, 2009 5:45pm
Quoting belekas
Good luck to you as well my brother. Let this year bring joy to the ones that really deserve it. The sky is the limit! Cheers

ps. seems we dont have igrok believers around ff, just you me and jupiter_peak thats is mia...shame...
We have Blackinc and Bentrod too. Apart from that it's rather few. It's ironic that probably the best system on FF is almost unknown. That just mean more pips for us
Measure twice, cut once
  • #16
  • Edited Jan 7, 2009 3:52am Jan 6, 2009 5:47pm | Edited Jan 7, 2009 3:52am
Tuesday; -1.6% (added nzd/usd trade which got stoppen out @ +0.1% during asia session)
Measure twice, cut once
  • #17
  • Jan 7, 2009 3:42am Jan 7, 2009 3:42am
Bought @ 3 touch toward intra-day TL. Stop and reverse if TL gets broken is active.
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Measure twice, cut once
  • #18
  • Jan 7, 2009 3:48am Jan 7, 2009 3:48am
Sold @ break. Stop/reverse above Asia high. 30 pips TS active.
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Measure twice, cut once
  • #19
  • Jan 7, 2009 3:54am Jan 7, 2009 3:54am
Quoting aediaz1
Bought @ 3 touch toward intra-day TL. Stop and reverse if TL gets broken.
GM - my buylimit was @ 1.6340 on the 1hr 50 ema i use and love very much, but i forgot to add the spread second time in the row and price touched the 50 ema to the pip and bounced. We have bullish HD divergence that i added to my method so lets see how your trade develops. Price at 76.4 fibo level right now. Seems we were seeing the same thing only from different perspectives and my TL wasnt touched but still

edit: we should have sold the 4hr UTL touch though hehe
  • #20
  • Jan 7, 2009 4:04am Jan 7, 2009 4:04am
Quoting belekas
GM - my buylimit was @ 1.6340 on the 1hr 50 ema i use and love very much, but i forgot to add the spread second time in the row and price touched the 50 ema to the pip and bounced. We have bullish HD divergence that i added to my method so lets see how your trade develops. Price at 76.4 fibo level right now. Seems we were seeing the same thing only from different perspectives and my TL wasnt touched but still
Good morning. Had almost the same experience yesterday with gbp/chf. My sell limited order missed by a pip or 2 before going south. I removed my order and left my computer and 1 hour later price had touched back at the TL before going down again lol.
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Measure twice, cut once
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