My path to financial freedom

Forgot to pu a pending order on EAUD below the 4HR PPz with a tight SL as a way of getting into the daily BEOB with low risk.

I have a sever lack of patience in my trading at the moment..had some decent positions on AU,GJ, AJ and with YM at support and likely to test yesterday's highs at least I should have held them but ended up scalping a few pips here and there. I think 'fear' has crept in over the last few weeks and I need to get rid of it in order to trade properly.

A couple of other good setups from today:

1.G/AUD - daily BEOB...could have got in at a discount...pretty straightforward.

2. gold...divergence and a BUOB on 1HR chart

Was hoping the daily UJ pin wouldnt trigger in Asia...oh well.

Ym went much further than I though it would, I favour a retracement back down to PPZ or TL and then back up to test 10050-100 area.

US Index is at a confluenced support area too so everything lines up for a bounce in USD.

pin bar off PPZ...some trouble' just below but hopefully price has enough momentum to get to 1.5150 area

YM and Oil in the 50/61 zone and daily PPZ with 1HR divergence. I'm expecting price to push a bit higher towards 61 fib (also a PPZ area) on YM before a retracement. I am cautious though as the market has been rising strongly on the back of not a lot of news and there is no US news to note out today either.

Following on from previous post a couple of FX setups in line with YM 'forecast' move

Trade from last night which took a while to get going...long on break fo pin.

also short EG, long UCHF and short AJ,AU and EU

are you looking at a likely long?

Price is at round number,, PPZ and 50% fib fd recent upswing and we have big divergence on 1HR chart...all indicated price should head up....I'll wait for some PA though.

How did this week wrap up for you LJ?

Decided to restart my stats from beginning of July i.e. so I can't see my past poor performance and have a clear mind focusing on just trading what I know. Dwelling on the past too much can be a hinderance.

https://www.myfxbook.com/portfolio/real-account2/30664

I need to work on holding trades longer and catching a happy medium between taking some profit and holding trades...not quite mastered it yet as paying too much meaning to the absolute profit levels...really try hard to dis-associate myself from the profit in a trade etc and trying to focus on just trading what I see...sometimes it's a fine line between having a BE trade and catching a real runner...and I'm finding it hard at the moment to know when to hold and when to take profit. Still not back to the levels I was at towards the start of my journal but I'm more relaxed taking less trades and just focusing on formulating plans for the pairs I watch and wait for the setups to appear and trade them accordingly.

I'm developed a poor trait of becoming emotionally attached to a trade...I fear losing and I get tempted to take profit too soon...meaning I don't let winners runs as far as aI should and I cut losers too early...i.e. I don't give trades space and time to develop. I feel it's an ongoing struggle I have constantly, sometimes it surfaces and sometimes it retreats in the background, but once I can fully overcome these weaknesses that's when I'll make some super profits.

Wow that was much longer than the couple sentences you were probably looking for...lol!

How's things for you?





I still should be holding EU and GU / GJ shorts in theory...

[quote=lovejoy80;3863674]Decided to restart my stats from beginning of July i.e. so I can't see my past poor performance and have a clear mind focusing on just trading what I know. Dwelling on the past too much can be a hinderance.

https://www.myfxbook.com/portfolio/real-account2/30664

I need to work on holding trades longer and catching a happy medium between taking some profit and holding trades...not quite mastered it yet as paying too much meaning to the absolute profit levels...really try hard to dis-associate myself from the profit in a trade etc and trying to focus on just trading what I see...sometimes it's a fine line between having a BE trade and catching a real runner...and I'm finding it hard at the moment to know when to hold and when to take profit. Still not back to the levels I was at towards the start of my journal but I'm more relaxed taking less trades and just focusing on formulating plans for the pairs I watch and wait for the setups to appear and trade them accordingly.

I'm developed a poor trait of becoming emotionally attached to a trade...I fear losing and I get tempted to take profit too soon...meaning I don't let winners runs as far as aI should and I cut losers too early...i.e. I don't give trades space and time to develop. I feel it's an ongoing struggle I have constantly, sometimes it surfaces and sometimes it retreats in the background, but once I can fully overcome these weaknesses that's when I'll make some super profits.






Great post! I could post the same in my thread word for word and mean all of it.

my view this morning as as follows...


USD Index is still at support levels, YM is at 61 fib and relatively minor 4HR PPZ which has held for now.

AUD is weak which is what you'd expect when risk is 'off the table' and GBP is very weak with CAD strong (following the unemployment data from the end of last week).

We will either see a drop back down towards 10,000 on YM or it will pause and rise higher towards 10250.

Never keen on trading on Monday's so on the sidelines until I get any clear PA or breaks of key support / resistance levels.

Some trades from today so far:

GCHF 4HR BUOB and also an other entry on retracement back to 1HR PPZ. took profit far too early on the 1HR entry but took profit on BUOB at the PPZ marked.

EG - 4HR pin, made another error and lost paitence and took profit @ TL, it just hit my main target.

Also in daily I4B on AU with pending sell on AJ and took a loss on GJ 4HR BEOB.

Took a touch trade on GU at PPZ with fib confluence..moved SL to BE when hit 1.5050 area and got stopped out before S&P put negative watch on UK and GBP plummeted...grrrr

AU missed TP by couple pips...grrrr

Took a loss on SJ I4B but was also long based on 1HR pin with TP of 77.95 (took this on fxpro as cannot hedge on Oanda) and so they they pretty much cancelled each other out.

If YM for resistance holds @ 10150 then it should get up to the falling TL @ 10250. I'll be shorting YM from there together with selected FX pairs. Unfortunately I'm not around this afternoon and will not have access to charts so might have to miss out.

I'm keeping an eye on UJ in the upcoming Asian session for a short 88.5-55, stops above recent spike highs at 88.8, looking first to hit support around 88 and break down lower.

Thoughts, etc?

Was out most of yesterday so looking at charts for firt time in 12 ours, not surprised equities rose again, they have been rising very fast on no news or expected news which suggests to me the bulls are out in force. US earnings season is a big driver of risk sentiment.

FTSE and Oil in particular are at good resistance areas IMO

It's in a short area now IMO.

Lot's of PA on daily charts and USD Index too.

No space on the AUD PA setups but EU and EJ are interesting as they have broken TL resistance.