Buildcity's Trading Journal

Here is the M5 chart, you can get my entry idea

These days I have been switching in between M5 & M15 to get a better entry point, well something interesting learnt from other players, who always said a better way to get the entry point and exit. Still trying, cos I get confused myself with 2 TFs presented at the same time. hehe

........ Do you really want to risk your capital..........

Only caught 10+ from the 2nd last red after the breakout of bottom support, well, dont want to fight with the news, so closed at once.

Suppose to be last trade tonight

edit: 1st half closed with +12

After taken 12, BE to +1, then +5, then ......

2nd half for 26 closing,

I'm happy with this trade!!

Good night all!!

look at your chart.. why did you go long there??
may be the divergence was spotted and/or you considered the price could retrace to broken R/N?

Hi mate,

Hope the following 2 charts (H1 & M15) plus the previous M5 chart could help. But those my view only for sharing, may be wrong!!

hehe.. thanks! everyone should respect s/r zones
regarding the momentum moves... i wouldn' say they gets slower and slower(shorter and shorter) but i see that the corrections(reversal bars just after the momentum bars) getting deeper and deeper(bars getting bigger and bigger).. and look : if we consider the momentum bars as elliot impulsive moves, the reversal occured right after the last 3d impulsive (corrective a-b-c)

Yeah, talking about momentum trading, the other way is to look for how the development of corrective moves, if it presented itself stronger one after one, it means the same thing.

Sho did talk about the concept of momentum some in early days, how we check for momentum is the SPEED and ACCELERATION, the combination could be a very powerful tool in trading (for me, hehe).

For elliot, its bit complicated for me so I didnt learn much on 12345abc waves.

Anyway, probable I was lucky on this trade.

Good to share

Every night the similar timing has the similar trade

Original plan at 1:1 RR, SL at 10, but seemed good after a while when there was 10 in bag, moved SL to +1, then wait for further development, final quit with 18.

Well, not the right timing to catch the trend riding, then see whether there is little room for CT trade.

Its Dec of 2010, we should get preparation for 2011 and my fresh trading plan is writing up at the moment.

After a year with Sho's method, pullback entry for trend riding is not the only thing I learnt, but the concept of price action trading is the core topic I picked the most from him.

In the beginning of 2010, all the way I was looking for was trend riding technique (plus my stupid counter trend trades to catch the top and bottom), that was quite a fruitful beginning for me luckily. After a while around 3rd to 4th Quarters of 2010, the more aggressive I traded, the more I mixed up Sho's method with other S/D zones' techniques. Seemed that a big wall was right in front of me, I've been struggling with this issue for months. But the reality told me that I have to find some ways out in order to overcome my problem.

Step back, read and reread, catch some other guys' experience, learn other areas such as control my emotional side rather than pure trading, money management and trade management too (not entry stuff but the ways how to hold the open trades in different circumstances etc, say different approach for trend riding or in counter trend trades). Finally I think I have tight up myself and now more confident to trade in different situation, at least I found my way on price approaching in S/D zones, I trust.

Another area I have taken serious thinking is the time allowance for my trading business. On one hand I have to take care my full time job which is used to support my whole family life, I can't leave it but focus on trading like 2010. So I am now concentrate on US session mainly (HKT 2000 to 2400, which is GMT +8), may be I can only catch a few trades only per day (like last night only picked 5 during the period), but it would be rather more easier for me to balance the daily life.

Forex trading now becomes my hobby (honest we have to enjoy the trading otherwise we cant even success in this business), by this stage I still cant rely on this to support my family, but for a 2nd bonus portion is pretty good for little extra. Its not hurry for me but I am saying that I treat it serious.

I truly think that the learning process is never end and we can get more experience how to face the market, no matter those are bad trades or good one, review your trading result, not the score but the process, how we decide to ride a trade and why we exit. Then we can get a better result.

Woow, too much rambling, now stop.

Happy trading all.
Cheers
Eric

Hey City!
nice trade..as always
so.. let me recreate your analysis... well you saw the price settled in DZone(H1) and you were waiting for its rejection from this zone.. then you went to M5(looking for entry point) and noticed that DB with nice pins(lots of buyers there) . Then u went long with your target was at previous support now resistance...

that's it

Almost, for price approaching to s/d zones, I'm now switching down to M5 to see the better price action, whether the strength is in north or south; there are several outcomes from this event:

1. Straight breakout the s/d zone and carry on the continuation;
2. test the s/d zone only, then reverse;
3. test then pullback (retest) and reverse;
4. breakout but failure;
5. breakout, pullback to s/d zone, and finally continue the main direction

so, all I do now is to check the lower TF and let the PA shows hand to me where she wants to go, when the price is approaching this interesting area. No special technique, and no guess, trade what we see, but not what we expect, haha, the old words.

Trade well mate

in this case you saw the 3d one (test,re-test then reverse),DB ?

100% right

plus the target TP > SL, worth to try

1st (red arrow) enter above the pink line (late entry), but stopped out by the sudden drop (same red bar) -15p

2nd (blue arrow), same level as 1st one, 1st half with +16p, moved SL to BE, but stopped out with +1 a moment ago

see pic

.. waste my time tonight.........

breakout trade but late entry, so quick out, on 1st pink

breakout 2nd level