MW's trading journal

I have read Think & Grow Rich 3 times. I will have to look for "The Secret of Ages".

I don't know if I will ever be able to trade successfully, I know I will not stop trying to do so. I think I am pretty close.

But I do know, that if I learn to trade or not, the journy has taught me more about life, than anything else, including a Bachelors degree and 10 years in the computer field.

Honey I'm home

Matt!!! What's up my man?! Damn brother, I was wondering what happened, how is everything?! I'm glad to hear from ya again, that's for sure!

Hey Mike, what do you think of this one?
that particular bar closed at 12pm EST,would you take it?

Hey Judith, Sorry I wasn't around in time but yes. Price action at the 21, on 4 hour charts, are money in the bank time and time again. I hope everything is great for ya!

Hey mike how's the trading going?

Still trading the 5min?

Had a few good weeks on the 5min but now after some bad back test results and a rough past 3 days im thinking of jumping ship to the 15min. Trading trend and CT on 15min. I don't want to be system hopping but spreads are rough on the 5min.

Wow, It's hard to believe that it's been over a month since I've written in here. Better lay off the peyote! jk lol

Trading is great as always too my man, I've just been chugging along as always. I'm still trading the 5 minute, 15 minute and 4 hour charts for the most part like I have been. At the 21 and extremes are where I make my money.

If you're sticking with the same method, I wouldn't consider that "system hopping" at all brother. I'd call that intelligence if you're seeing a better way to trade with. The spreads on the 5 minute are tough if you're not trading at the right areas and the 15 minute charts will, for the most part, give you better setups in terms of price action instead of trying to decipher what's what.

I hope everything has been good for you brother and it's good to hear from ya again! I'll have to make a note of it to get posting again. I've noticed that I tend to just stop for a while and go on hiatus. lol

Here was a pretty decent setup on the usd/cad from yesterday that I got into on the retracement at 1.0180 and then added to again at 1.0200. My first thought on this is the previous high point of 1.0235. If we surpass that point, I'll be holding on to this until we see an extreme in price.

I can honestly say that I'm doing nothing new and this is all just old stuff being used. Why? Because it works over 75% of the time.

Have a great day ladies and gents and don't forget to count your blessings. That's how ya get rich beyond measure.

Hey guys, been quite a while since I've posted in here. I've taken Jim's (Jarroo's) method and have been quietly plugging away with it along with my normal methodology of trading at the 20 EMA dynamically. Simple stuff and I'll go into it again as I used to. Took quite a few hits in 2012 because my mind wasn't right and ended up moving down to my beach spot and just bartending for a while until I was comfortable again. Well, I starting trading again in late 2012 after a 7 month break and here we are. BTW, If you haven't read a guy on here named Jarroo's posts, get on it. It makes money.

Right now, I'm focusing on posting every SFP setup that I find for the next 6 months to 1 year to validate the pattern's effectiveness. Get ready for a long, boring process that'll end up with us making some cash.

I'll be testing Daily and 4 hour charts with this as well as some of my other trades just for the fun of it. Come on in and join the party.

I am NOT actively trading the SFP until I have a positive belief in it. There's a thread titled Fail Better, which is in the commercial section at this point, and this is what introduced me to this setup. I find that it is in direct opposition of my current thoughts on price behavior so again this is just a test.

SFP on 4 hour.

We have another possible SFP on the close of the aud/usd. Keeping the eyes peeled. This one is in confluence of the larger term daily resistance as well. Just pop up a daily chart and you'll see what I mean. The other two trades on nzd/usd (NZD came within 1 pip of stop.) and eur/jpy are still moving right along. There was another on chf/jpy as well that printed on the last 4 hour close.

I've spent the past 18+ hours studying and documenting these SFPs. This stuff is legit. Now it's just getting the belief that they work. That's the biggest part. If you're having trouble believing in the methods you use, I'll be posting up some videos that might help. Call them new agy, call them bullshit, whatever you want really. All I know is that my life is rich and it didn't use to be that way.

Outcomes from last night's and today's SFP setups. I would allow the eur/jpy and chf/jpy to run. These got to the first trouble area and so I would take some off the position and scale back in as price retraces to the initial entry to minimize potential loss.

I would also allow the eur/nzd look to get back into the eur/nzd setup as it closed bullishly on the 4 hour charts at a large form of support.

I never look into forexfactory any more but I have an alert set for this journal and was happy to see the email that told me you were posting again. Welcome back brother, always good to see one of the original good guys here. Sorry about 2010, those years happen to the best of us, and taking a few months off and tending bar on the beach doesn't sound like a bad way to sort things out at all. Hope you get motoring again soon.

I've been full time trading now for a few years. I don't trade forex anymore. I trade the 5M ES (S&P futures) and it feels much more comfortable to me. This is where it all started for me though and so it's nice to see the old timers around . Fire me a private message and we'll chat some more.

All the best.

I saw an old post where you were trading RYANmcd style using higher time frames as a directional bias guide. Do you still trade the 5 minute bars in this way?
Hope you are trading well whatever you do.

Howdy Mike

Sonic