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Price action trader wanting to turning pro

  • #41
  • Dec 15, 2010 2:43pm Dec 15, 2010 2:43pm
Entered a short(USD/JPY)O: 84.27 at a supply level that had been touched and rejected several times on the daily chart. I took a 14 pip loss on the trade.
  • #42
  • Edited Dec 16, 2010 8:05am Dec 15, 2010 6:21pm | Edited Dec 16, 2010 8:05am
I am currently in this short EUR/JPY

We have here a pull back into 50% on daily, a ppz zone, a pin , then today that pin was tested but could not break the high of the pin. I missed the best possible entry but this isn't a perfect world.

For my friends with Sho , keltner has tipped the scale on 3hr chart
We will see what happens


Trade update: B/E
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  • #43
  • Dec 16, 2010 8:40am Dec 16, 2010 8:40am
Trade from this morning that did not work out, I went long on aussie and I paid for it, -36 pips. I had enough evidence to enter trade but it happens sometimes. My s/l was about 18 , I decided to put my s/l under the last swing because of what I was believing going to happen. You see I make mistakes like everyone else and I have to improve.


Well,

I am now short USD/CHF, we will see what happens, I have about 5 reasons to be short but as you know anything can happen
  • #44
  • Dec 16, 2010 8:47am Dec 16, 2010 8:47am
JJ

Anytime to quit?? Or you trading the news?
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  • #45
  • Dec 16, 2010 10:47am Dec 16, 2010 10:47am
Quoting Buildcity
JJ

Anytime to quit?? Or you trading the news?

hi City, how have you been? I know you are trading well as always. I look in your journal and see what you are up to. lol


I just got out of the trade on the short at a B/E. I guess I need need a new name : " Mr. Breakeven

I didn't like the price I sold, there was a better opportunity like 30-45 minutes later.
  • #46
  • Dec 16, 2010 7:37pm Dec 16, 2010 7:37pm
Quoting jj7000

I just got out of the trade on the short at a B/E. I guess I need need a new name : " Mr. Breakeven

I didn't like the price I sold, there was a better opportunity like 30-45 minutes later.
No worry mate, BE is always better than loss, we have to test out which tactic is the best suit for our personality.

For me, now mostly I confine myself to target 10, 1:1 RR at counter trend trade, for trend trading, can target more but cut into 2 positions to play, while the 1st portion out then move the SL to BE, safe cover and let the rest run, seems simple but quite work for me. Anyway, just simplify our strategy so it will become the "nature" reaction in different circumstance.

For sharing.

Happy trading JJ

Cheers
Eric
  • #47
  • Edited Dec 17, 2010 6:31am Dec 16, 2010 7:40pm | Edited Dec 17, 2010 6:31am
Here is another trade I'm in right now, I'm long EUR/USD

We have a ppz zone, fib, a mini daily pin off of a strong supply level, TL bounce

This is for visual only with metatrader charting , I felt like it is too cloggy in my broker's chart. For my friends with sho the keltner channel is showing the trend is changing.

I could be wrong
We will see what happens


Out +15 pips
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  • #48
  • Dec 16, 2010 7:43pm Dec 16, 2010 7:43pm
Quoting Buildcity
No worry mate, BE is always better than loss, we have to test out which tactic is the best suit for our personality.

For me, now mostly I confine myself to target 10, 1:1 RR at counter trend trade, for trend trading, can target more but cut into 2 positions to play, while the 1st portion out then move the SL to BE, safe cover and let the rest run, seems simple but quite work for me. Anyway, just simplify our strategy so it will become the "nature" reaction in different circumstance.

For sharing.

Happy trading JJ

Cheers
Eric

Thanks city, for your kind words and wisdom I really appreciate you

Happy trading ,

Joe
  • #49
  • Edited 8:29am Dec 17, 2010 7:15am | Edited 8:29am
Here is a short I'm in right now with a very tight s/l. I expect impulse wave to begin, we have ppz zone, break of t/l , pin on daily and much more



out @ +12 pips, could have gotten more decided to go for less , because I had to leave to go to work
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  • #50
  • Dec 19, 2010 8:26pm Dec 19, 2010 8:26pm
I took an aggressive short on USD/CHF. We have a ppz zone, we have price rejecting middle keltner line, TL, and a 61% retracement
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  • #51
  • Dec 20, 2010 8:19am Dec 20, 2010 8:19am
Trade update out @ +43 pips overnight. I just woke up
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  • #52
  • Dec 21, 2010 1:10am Dec 21, 2010 1:10am
Quoting jj7000
Trade update out @ +43 pips overnight. I just woke up
It's nice trading. I also like to trade on price action based on Sho method, it works very well. I will join your tread in the future for information. For me, KC i setup 8 for MA and %K is 1.3, like james16 which is easy to see the trend, S/R and overbought&sold.

Thanks.
  • #53
  • Dec 21, 2010 9:02am Dec 21, 2010 9:02am
Quoting orionfx
It's nice trading. I also like to trade on price action based on Sho method, it works very well. I will join your tread in the future for information. For me, KC i setup 8 for MA and %K is 1.3, like james16 which is easy to see the trend, S/R and overbought&sold.

Thanks.

thanks for dropping by orionfx and I am looking forward to hearing more from you
  • #54
  • Dec 29, 2010 6:24pm Dec 29, 2010 6:24pm
I haven't been trading because of all of the bank holidays and holidays but I can't wait till things get back to normal in the market. I am on vacation right now.
  • #55
  • Edited Jan 4, 2011 6:45am Jan 3, 2011 9:35pm | Edited Jan 4, 2011 6:45am
Here is a trade I'm looking to go long, we have all type of confluence that you can think of. My risk is very low. As we know anything is possible, I could be wrong


Order not triggered priced dropped even more , all that means is getting in at a better price .
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  • #56
  • Jan 5, 2011 9:14am Jan 5, 2011 9:14am
took a quick short on EUR/AUD quick exit +7 pips and yesterday a b/e +1 on USD/CAD and right after it took me out it soared almost 100 pips.
  • #57
  • Jan 5, 2011 5:33pm Jan 5, 2011 5:33pm
I got burned on a AUD/NZD trade , price was in a range and I played a short at the top of the range and paid for it. -36 pips
  • #58
  • Jan 5, 2011 10:14pm Jan 5, 2011 10:14pm
We have ppz zone, price closing above it, tl , fib confluence, BUOB , I hope it works out. AUD/NZD long
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  • #59
  • Jan 7, 2011 11:10am Jan 7, 2011 11:10am
Quoting jj7000
We have ppz zone, price closing above it, tl , fib confluence, BUOB , I hope it works out. AUD/NZD long
update stopped out this morning. Price broke out of the range and then fell back into the range . -90 pips
  • #60
  • Jan 9, 2011 6:41pm Jan 9, 2011 6:41pm
I'm short GBP/JPY
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