Four Kids 2nd Journal

am going to have a go using your system to augment my trades. the only issue for me is there is no way i am going to track 28 pairs .

anyway, i have nzdusd on my watch list. i would look for a downward breakout at the 7020 ish line. ie:i would want a daily to close in the red.

let me know what you think.

7-14k = roughly .70c - $1.40 per pip. Most of my trades have a stop of about 150 pips, so risk is about $105 - $210, up to a bit under 50% of my acc. I am quite sure that when my acc reaches a few thousand dollars this ratio will change.

nu chart:

Basically what I see is to much congestion, untill there is a bpc at that 6970ish area.
I don't trade just the break and close above/ below a sr, I wait for a least the pull back, and then monitor the 4h chart.

I do trade just the break of a pin, outside, engulfing and some times an inside bar, if they are at swing high/low and at a sr area.

On the nu chart

Whoops hit the wrong button.

On the nu chart I see bars 3,5,7and 8 all reaching close to the sr area at 6970. That is what I mean by to much congestion. Between 6970 and 6845 I see quite a clear run.

But cools, this is only what I see, and I am sure their are many people who will short on the break of 7020, and make money, it's just not how I trade.

More than once, before I got to this point in my trading, I was put off good trades by reading what was said by traders who I was learning off, and visa versa, taking trades that were losers, because I followed their analysis, but over all I am trading the way they taught, all of it here on FF, mainly j16.

Watch list:

aj, bars 1,2 have formed a pin, at swing high and at sr.

gu has broken out and pulled back to sr.

entered gu short off 4h bar,

gu 6 s 1.4895, sl 1.5020, tp 1.4820
gu 2 s 1.4895, sl 1.5020, tp open

curious why you didnt enter closer to the s/r line on the daily, since you enter on a pullback to the s/r line

Because I don't enter just on the pull back to sr. Once the pullback has started I enter in either one of the two following ways:

1) a 4h PA, pin, ob, etc off the sr, or

2) a bounce off the sr and then a continuation past the bar ( or bar's ) that broke and closed below the sr.

Once or twice I did enter just on a bounce off the sr, ( greed ) but this proved to risky.

The safest way is to wait for the continuation, after all it is called breakout-pullback- continuation.

On the gu trade which I just lost on, the continuation past the previous bars did not occur, so if I had of waited I would not have entered the trade, but that was such a good looking 4h pin off the sr I decided to take it.



au 2 hit sl -105

gu 2 hit sl -125
gu 6 hit sl -125

ok, thks. so i presume 1, and 2, are tracked on te 4h and you wait for that particular bar to close before entering?

The daily bars are where I look for my signal. If a daily bar has broken and closed above/below sr, then I will look at 4h for PA, or I will stay on the daily to wait for the continuation. If I decide to wait for the daily continuation, I will usually put a pending order in place.

If I decide to look for a 4h entry then yes I wait for the 4h to close.
If I decide to wait for the daily continuation, no I dont wait for the daily to close, I will enter when the price gets a few pips above/ below the breakout bar.

Cheer！

Weekly round up:

From last week, closed au -105

From this week, gu hit stop -125, gu hit stop -125

Total -355 pips

Balance at start of week $598, at end of week $478

Watch list

ucad, short, a few pips below support, at about 1.0050. Sl, a few pips above bar 1. First tp, a bit above next rn at about 1.0010.

an long a bit above bar 4. First tp a few pips below next rn, which is 1.3000, sl a few pips below bar 4.

ncad short below bar 1, sl above bar 1, tp a bit above next rn which is .7000.

All of these potential trades have their first tp's well with-in their ADR's.

Pending:

an 4 long 1.3040, sl 1.2890, tp 1.3090

an 1 long 1.3040, sl 1,2890, tp open

Now，make a living with Forex so drang ... LOL

an 4 closed 1.3070 +30 pips

Pending:

ucad 4 short 1.0060, sl 1.0135, tp 1.0015
ucad 1 short 1.0060, sl 1.0135, tp open

ucad 4 hit tp,+ 45 pips

ucad 1 still open
an 1 still open

Sell at 3450 Would be a bpc trade me thinks

closed ucad 1 at 1.0018 +42 pips
closed an 1 at 1.3093 +53 pips