TheChalleger's Journal - My Trading Journey

Is Channel breakout also a case to prevent? Yes, as far as, it is a breakout. No fading then.

First +2R trade in my life. Use M15 chart, decision made by confirming reversal with candlestick (or pinbar).

A Sym. Triangle has been formed. Glad that I have not wasted time to wait for low-confidence +3R target.

See how accurate a S/R can be. The price pierced the S/R by 0.2 pip. Unfortunately, the post news volitatility was too high to fade.

This Over/Under pattern at 1.4520 was missed by 0.1 pip. I was babysitting my JPY +2R trade, and was not really able to consider taking this one.

Did not attempt another trade.
May need to end my day now.

Sep 8: +2R
Sep 9: -1R
Sep 10: +1R
Sep 11: +2R

Sep 14: +1R

Sep 21: +1R
Sep 22: -1R
Sep 23: +1R
Sep 24: +1R
Sep 25: 0R

Sep 28: +1.5R
Sep 29: -3R !!!
Sep 30: -1R
Oct 1 : -1R
Oct 2: +2R

Oops, it did it again.

Don't want to hold until news in 20 min. +1R, but it quickly arrived +2R in 3 min.

Here is the trade analysis for my second and third 5-day session trading. It is much worse than my first 5 day session. I figured out the probable reason for each failure. The main two reasons fading against a breakout and fading as same-session retest of a level. I hope that once I prevent fading under these two situations, my performace will return to the level of my first 5-day sesson.

May need to end my day now.

Sep 8: +2R
Sep 9: -1R
Sep 10: +1R
Sep 11: +2R
Sep 14: +1R

Sep 21: +1R
Sep 22: -1R
Sep 23: +1R
Sep 24: +1R
Sep 25: 0R

Sep 28: +1.5R
Sep 29: -3R !!!
Sep 30: -1R
Oct 1 : -1R
Oct 2: +2R

Oct 5: +1R

Update my first 5-day session result with the new trade analysis format.

First 5 day:
Gross Profit/Gross Loss = 9/3

Second/Third 5 day:
Gross Profit/Gross Loss = 9.5/9

-------------------------------------------------------
Overall First Three 5 day:
Gross Profit/Gross Loss = 18.5/12

My +1R trade today.

I entered the trade at about 89.00 after seeing the price action around the S/R. The setup is O/U & PP. I was expected a +2R trade for 20pip, but I cannot get it about 3 hours of waiting. The upward channel seems quite flat. Finally, I exited at +1R. The position finally went a max of +1.5R.

May need to end my day now.

Sep 08: +2R
Sep 09: -1R
Sep 10: +1R
Sep 11: +2R
Sep 14: +1R

Sep 21: +1R
Sep 22: -1R
Sep 23: +1R
Sep 24: +1R
Sep 25: 0R

Sep 28: +1.5R
Sep 29: -3R !!!
Sep 30: -1R
Oct 01 : -1R
Oct 02: +2R

Oct 05: +1R
Oct 06: +1R

R

This week, I have changed my main referring timeframe from M5 to M15. This move is to reduce the cost/profit ratio (spread is the cost). Nevertheless, this also reduces the frequency of setup. I look at M5 to read the price action mainly.

The volatility was high. A retracement occured short before price returning to 1.5926. Prevent fading.

The price move unexpectedly at 16:00 yesterday (GMT+3).

KK007, you are moving in right direction. drop that 5 minutes time frame. it is of no use. just daily noise.
look at 1-4H frames for big picture and you can use 15 minutes for references watching when price is reversing and so forth, but it is only for references. all decisions should be made on higher time frames where you can see the big picture.
also, you do not have to trade the whole day.
as I told you, read Bird watching in lion country and try to combine with BRW approach. it is a beautiful marriage

Extremely tough -2R trade. I shorted the JPY with the expectation of a downward pullback, the trend was also down. The price rally to over my -1R. Then reversed back to almost my +1R. The take profit was missed by 0.6 pip. and a suddenly impulse bring the price to hit my stop loss.

> The diagonal breakout was false.
> The trend has greatly reversed.
> The take profit was missed by mini-pips.
> A sudden price impulse appeared against me.

Lesson:

- Don't use price pattern only visible in M5. Like in this case the pullback pattern is tight and small
- The missing of 88.00 is acceptable.
- This price impulse cannot be known beforehand