Buildcity's Trading Journal

posted on Sho's thread.

I like this one, keep the chart here

http://www.forexfactory.com/showpost...postcount=4660

impossible in momentum trading

Its not a call service, its my record. Sorry man

Hi City,

I also like this. seem really in fast.

Its that any criteria of momentum bar ? so you can said that bar is momentum bar.

Thanks,

Hi mate,

I will post my strategy on this play tonight for sharing, may be wrong, now trading. Be patience.

Cheers
City

take ur time.. and post more chart.

I'm sure waiting.

Thats my thought, all we need is to respect each other. If you dont trust or dont like the other's play, then just ignore the thread. All I can do is to trade first, take pic, focus on the trade(s), quit any time. then post.

My play so far today.

Nice trading,

You like it or not.

I finished my trading today!! Its Fri, you can catch good move if you are fast enough. At the same time, it usually is crazy move on Fri, you will kill your a/c if you are slow like a TT.

Always welcome constructive comments.

Tks Sho (Trade Price), saw your comment on my porfile!! I really appreciated.

11 plays, no loss, +127p

My best mates are interesting on this trade which I took today, there is no secret. And I would like to share with you guys if it can help.
_________________

What's the strength of the big guys:
- I can't trade like Sho, who is real quick; count the momentum move is perfect! Quick
- I can't trade like Rob, who is real patience to win the big move, based on his great analysis; big profit
- I can't trade like Francis, who is perfectly use the MAs to set his entry and exit; right target

So what can I do with small trades all the time with better profit gained? The following is what I thought:
(Also this trading style is inspired by Sho too, I remembered he told us if the momentum is on our side, why not go with another!!)
- Small trade with 10p is much more easier than 20+;
- I cannot fit in "enter a trade then cut half of profit and let the other half run", I prefer simple, quick and straight forward; all my action within a trade is only open an order, then adjust the SL & TP, and 100% focus on the price move, at last quit with profit or small SL;
- I let my EA to enter the HARD stop loss and target profit automatically, usually 20 for SL & 40 TP, if the price is in really quick move and either hit my TP or SL, I would be happy to look for another trade opp;
- Move the SL and TP manually (my EA can move the horizontal lines right on the chart) to suit the actual situation; usually base on the s/r around; (if I have time to adjust); this EA is attached
- I've more confident to play short trade, and catch the immediate move, so if my 1st entry is right, and the momentum is with me, why not go with another one; and if it is real good then; go for the third one (but ensure there is still room to play, e.g. no immediate s/r nearby);
- One little point here, I got to decide whether I should enter the 2nd order around few pips gained from the 1st trade (i.e. the profit in pocket should well cover the spread to be used in 2nd trade); same principle applies to 2nd and 3rd trade;
- If my 1st trade arrived approx 10, I usually cut the first one to secure 1st 10; and similar to 2nd and third; then 1 single good A+ setup can make me 3 positive trades;
- I wont enter the 2nd one if the 1st one is in negative or no good momentum;
- Say the price stalls around the 2nd entry then I have 2 open orders at the moment; I can close both and make a BE trade if the price doesnt move (1st and 2nd trade offset each other more or less); similar principle applies to 2nd and 3rd trade, but remember that if I have 3 orders on hand; my 1st trade is already in positive. Then most likely I can achieve a positive gain overall if I close all immediately, even my 2nd one is at BE and third one is negative;

- That is aggressive+ play;
- Make sure you have good capital (margin) to allow this kind of play;
- Dont make more than 3 trades, otherwise just make the case more complicated (at least for me, I like simple);

The key is, I have no patience to play long term trade, but I trust I have little more strength to catch the immediate momentum. So to maximize this little strength is quite work for me.

Edit 1: First key, very familiar with Sho's setup, know the impulsive / corrective move, and trade with momentum, here is my master's main thread http://www.forexfactory.com/showthread.php?t=217281
Edit 2: Second key for this method is "quick", this EA can help we do the one-click on "enter" and "close", but also to "close all", here is the link for this nice EA, its free too, http://www.forexfactory.com/showthread.php?t=237102

Thats all my thought.

City

I like the way you trade and learning from it.

Tks mate, but if you are really new in FX trading, learn from Sho's Thread and play with conservative trade. Dont go for aggressive yet. Here is his (Trade Price) thread:

http://www.forexfactory.com/showthread.php?t=217281
Cheers
City

Great Post my Friend!

I like using the fibs to enter as well.

Keep up the great work.

Very effective method you have.

Kurt

Thanks for the great explanation Eric. You truly are a master of this method.

I'll keep this in mind for later but for now I'll stick to the basics until my confidence builds.

100 pips a day will make you a very rich guy before long my friend.

Very nice explanation my friend. But I am still in initial stage of this method. I am applying Sho's method to find A-plus setups. After that I will come to this kind of method for aggressive play.
Thanks for your posts. They are very helpful.

Always do revision, and familiar with those formation, Ken has shared some basic stuff here

http://www.forexfactory.com/showpost...postcount=1463

haha, I like this, which now displays on the "Market" page of FF. Similar thing you can find from "FX Street" too, but now you dont need to switch between the webs.

Got it one by one, with 1 pic only.

Don't know whether I mentioned it or not recently, I am now switched back to my mini a/c to slow down a bit before I fixed my house moving, should be ok in mid-Aug. With this mini (haha, blew previously on this one with few money left), I can keep on practice my plays without big impact on my real one until eveything settled down.

See whether I can turn this a/c back to normal (really little fund in this a/c at the moment) within half month. Wait and see

Brilliant.