AtClarkson Trading J16

PS Trading Journal:

woooohooo your finally back. cant wait!

Ya buddy, it's game time

good luck and lot of pips...I will surely stuck around

I have reset another account. I said I wouldn't, but I am on something newer and better, so this will give me a better representation.

$5k start, because this is about how much I should have saved to trade with when I go live. Not much, but gotta start somewhere!

No trades today. Was interested in both Achf (inside bar) or CadChf (almost outside bar), as they are at nice locations, but both are against the trend. Not that they are no good, but they aren't good enough to risk money on.

Trade - EURUSD

Inside Bar at 1.45.

Sell at 1.4429
SL 1.4565
TP 1.4055

At 38 fib.

Could Be a ret of a new down trend, unless you consider the last move from 1.5 to 1.4 a correction ( I don't... I believe it has broken the trend, but anything could happen)

Trade will find trouble at 1.425 level, where I think will get my stops to BE and maybe take some off the table. This is very much a part of my plan I will need to work on as I go.

Journal filled out.

Time to sit back and watch.

EU Trade did not trigger within 1 day, so it was canceled.


Today set a limit order on AChf.

Sell .9458
SL .9526
TP .9173

4H Pin at:
Top of consolidation
Double top
Big Round .95
Swing high
Has space
Divergence

Getting to BE at 80- pips because that is where it stalled up last time (not sure if I amright in doing this or not)
Target is near bottom of consolidation

Best of luck to you in your efforts Andrew!

Dan

Thanks! I'm working on it

Still in Achf

Here are today's trades (screen shot of my journal)

Cancelled EG and NCad. (Broke other direction)

Still in Achf

Still waiting to trigger on Ucad (no real movement) and CadChf (new IB)

Added Ecad today... IB at Double bottom at huge PPZ, against trend but nice spot for a bottom.



feeling a little unsure of everything still, which I've realized is cuz I keep thinking I should see instant results.... I have to remember I can not predict the market!

I am also wondering if my method has too many variables. (IE too many spots to take a trade) I might crack it down a little... but I need to play out a few months of what I have, to prove it one way or another.
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Idea was - PA at Rounds with the Trend only. This allows very little room for interpretation (except trend, which I've had some trouble with and maybe need to define better)

Thing is... you miss out on big PPZ areas inbetween rounds and big consolidation areas... and when you add those you basically have my system. My head is spinning!

Feeling a little better this evening.

I have been having a lot of trouble determining the trend. After a few hours of research, reading and looking at the charts, I have decided to use the weekly charts to determine the trend before taking a trade. I am going to mark each chart with the trend as part of my sunday routine before the markets open.

I have made small adjustments to define things better, but no major changes. I need to trade my plan. If in a few months it is not profitable, I need to see if it is me or the plan that is not working correctly.

Updates:
Find trend as stated above with weekly charts
Trades will be taken within 30 pips of a big round




small... but makes me more comfortable. I'm sure I'll have lots of little changes like this.

Feeling a little shaky today, but I think it's something I'll have to put up with until i see some success.

Canceled the rest of the orders.

Still have UCad, but it is against the trend. Going to let it play out because I saw something in it to take it.


Today found a pretty pin on the 4H of GChf.

Bang on a TL (third touch), near 1.70, down trend. Daily 150 MA.

Cancelled GC because it went past my SL (didn't trigger in tho, no loss)

I do feel it could give us PA on the daily tho. We'll see. I think I should stop taking 4h entries until I get the Dailies down pat.

Just got out of Ucad for 140 pip profit. It came to within 2 pips of my TP, so when I got up I watched it for a little bit then got out.

1.09% Gain.

Hi atClarkson

Continuing the good work on your journal here I see. Sorry I haven't commented much but I'm a little behind you on the learning curve I reckon, esp on PA and J16. I've been spending my time going trough that thread tryin to learn as much as pos.

It looks like you are laying really good groundwork for success as a Trader. I like the excel sheet you've done, I was just thinking this week of doing something similar, The idea came from just after reading Trading in the Zone - brilliant book you'll agree I'm sure. I'm currently doing the 20 trade excercise. I've written a detailed synopsis, it should be about 10pages when I've typed it, so I can go over it again and read it in one sitting instead of having to go over the whole book. I'll PM a copy if you want - just gimme achance to type.

Keep fighting the good fight!

pip! Thanks for dropping by, always nice to see more people here

That book is a hard read, I tell ya. I am about 2/3 thru it and I haven't picked it up in a few months. I'd like to get thru it sometime, but right now I am focusing on me, and what is going to work for my game.

Feel free to use anything I've posted, and I'd love to see your synopsis, might give me a push to finish the book!


Today's trades in next post.

Setup a trade on EJ (4h bar again) that didn't trigger, then headed south, and is working on a daily pin. I'm glad it didn't trigger because i would have been stopped out already, and I still think it will start moving up. No more 4h bars for me, I think I've been playing them out of greed, and the fear I might miss something. Daily's will treat me just fine for now.


Took the 2 day pin on Gchf, and it has triggered. Down trend at the top of some consolidation, round 1.7, 150 MA, good space, no traffic.


Set a trade on GCad on that nice IB at 1.70. All sorts of Fibs (61 and 50 confluence for several points) Round, Down Trend, space, the works.

Yeah that's the weakest part of the book. He slows right down, repeats a bit and even gets a bit surreal with his psychology. Most of the good stuff is in the first half. But you should read the last chapter (11) [damn, didn't mean the pun], he gets back on track and he pulls it all together, and gives practical advice on how you should use and practice his psychology, with a really good trade exercise.