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Buildcity's Trading Journal

  • #261
  • Edited Jul 10, 2010 7:03am Jul 9, 2010 12:14pm | Edited Jul 10, 2010 7:03am
Great stuff, posted by my good friend, Rob (priceaction) in Sho's thread.
http://www.forexfactory.com/showpost...postcount=2053

I trust he doesn't mind for sharing.

Edit on 10-7-2010:
Finish up the articles wrote by Sam Seiden, good stuff, the truly objective info available to us is price and volume. While we cant gather the whole info on volume (Forex), then the focus should be on Price itself. Price is determined by the market sellers and buyers, what level of price that the buyers / sellers would willing to pay for / sold the product ~ supply and demand imbalance then move the price. The supply and demand level could be then identified (price equilibrium point).

Don't make it complicated, back to the original principle of demand and supply ~ a secondary school subject.

The majoy point is ~ while a demand / supply level be identified, then this could be a great moment for a potential low risk / high-odds trade should the price is revisiting the levels. Where to put your SL and TP is not that difficult.

Great stuff, but need more time to get use to this, as it is rather a long term trading way for me
  • #262
  • Jul 9, 2010 12:22pm Jul 9, 2010 12:22pm
Haha, one more trade, should not do that at London 1800, especially on Fri, but a sudden 30 drops from GU would most probably lead the EJ did the same. So no hesistation to do that, if no motion, simple close it with few negative pips. Woo, a good 9 from this immediately.
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  • #263
  • Edited 12:30am Jul 10, 2010 12:14am | Edited 12:30am
Spare sometime to read this, only 3 pages
http://www.forexfactory.com/showthread.php?t=39514
  • #264
  • Jul 11, 2010 5:56am Jul 11, 2010 5:56am
An advice from Sho on how we set the SL & TP during trend or range trading. Keep a book mark

http://www.forexfactory.com/showpost...&postcount=125
  • #265
  • Jul 11, 2010 6:40am Jul 11, 2010 6:40am
See pic
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  • #266
  • Jul 11, 2010 6:50am Jul 11, 2010 6:50am
Daily look and H1
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  • #267
  • Jul 11, 2010 1:37pm Jul 11, 2010 1:37pm
Quoting Buildcity
An advice from Sho on how we set the SL & TP during trend or range trading. Keep a book mark

http://www.forexfactory.com/showpost...&postcount=125

Yeah I agree, I think one of the things that most should get away from is this idea that just using a precentage of your account as a fixed stop.

Why lose more than you have to if a area has broken it has broken preserve your capital. If your taking a trade off a given point like a pin and the top is your limit add a couple and put it there. Just because you can afford a 40 pip stop doesn't mean cutting a losing trade short at 10 isn't a good idea sometimes.

If your not sure where your stop should go then maybe a bit more practice and looking back at the charts can clarify that for you.

Acting in our own best interest seems to be the hardest thing to do.

Trade Happy Ken
Good Trading To All ; Ken Lee
  • #268
  • Jul 11, 2010 3:25pm Jul 11, 2010 3:25pm
Quoting Kenneth Lee

Acting in our own best interest seems to be the hardest thing to do.
What a statement! So tru ken, thanks
  • #269
  • Jul 11, 2010 8:22pm Jul 11, 2010 8:22pm
Light breadfast, missed the 1st break out play, do the 2nd one then!!
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  • #270
  • Jul 11, 2010 8:51pm Jul 11, 2010 8:51pm
Good resistance over there, give it a try on counter trend trade, but must be do it quick.
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  • #271
  • Jul 11, 2010 9:00pm Jul 11, 2010 9:00pm
Thks for the input Ken, you great guys have always put me back on the right track!!

Tks again in enlightening my knowledge, and brighten this thread from time to time.

One more point on the SL issue, we always should know our maximum allowable SL especially when we are short in capital.

Cheers
City

Quoting Kenneth Lee
Yeah I agree, I think one of the things that most should get away from is this idea that just using a precentage of your account as a fixed stop.

Why lose more than you have to if a area has broken it has broken preserve your capital. If your taking a trade off a given point like a pin and the top is your limit add a couple and put it there. Just because you can afford a 40 pip stop doesn't mean cutting a losing trade short at 10 isn't a good idea sometimes.

If your not sure where your stop should go then maybe a bit more practice and looking...
  • #272
  • Edited 12:24am Jul 12, 2010 12:00am | Edited 12:24am
Give it a try, resistance level is upper there, DT is formed, set little TP on neck level 1st

Edit: caught + 6 at neck level

Again, too early leave!!
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  • #273
  • Jul 12, 2010 12:34am Jul 12, 2010 12:34am
Honest, even I left some profit on table, its better than let the profit run out. Another catch on GU, quick one and sharp cut on recent PA support level. That's the way I play.
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  • #274
  • Jul 12, 2010 12:36am Jul 12, 2010 12:36am
My company computer has some problems, I have switched off and on again the MT4 several times in the past hour. No play any more!!

Anyway, daily safety line passed (30+), thereafter is bonus!!

Happy trading to all visitors.
City
  • #275
  • Jul 12, 2010 5:30am Jul 12, 2010 5:30am
2 long trades, as record

http://www.forexfactory.com/showpost...postcount=4012
  • #276
  • Jul 12, 2010 7:08am Jul 12, 2010 7:08am
Haha, still playing around in Sho's thread
http://www.forexfactory.com/showpost...postcount=4028
  • #277
  • Jul 12, 2010 7:54am Jul 12, 2010 7:54am
See link

http://www.forexfactory.com/showpost...postcount=4033
  • #278
  • Jul 12, 2010 8:48am Jul 12, 2010 8:48am
Forgot to check the news 1st before entry. Then quick closed with little profit. Entry cos the last 2 bars formation and still in the uptrend.

Shit, it is a 15+ move after closing!!
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  • #279
  • Jul 12, 2010 10:12am Jul 12, 2010 10:12am
See link, posted on Red's thread, always playing around in other thread!?!
http://www.forexfactory.com/showpost...&postcount=136
  • #280
  • Jul 12, 2010 10:35am Jul 12, 2010 10:35am
See link
http://www.forexfactory.com/showpost...postcount=4046
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