Buildcity's Trading Journal

1st trade today. +10

London 1302 : not yet, seems a 200m/s train...........

Also, divergence is forming....

Look like a one way ticket...........

It paid me

Edit: target on 1:2, now a 40 run > 1:5:rolling_on_the_floor_laughing:

Should well target on the bottom support level!!

Shit lot more than that now!! (a 90 run in 4 bars)

..
edit: catch some in my testing a/c

Still learning how to play bigger trade based on s/r..... keep learning

Its my time almost 2400, stop trading today, not bad.........

Sometime when we get lost, we really need to go back the basic of market, who drives the market / price, where are those buyers / sellers are etc. here are 2 links from FXstreet which show us what is Supply (resistance) and demand (support) really are.

http://www.fxstreet.com/education/le...tract-for-you/

http://blogs.fxstreet.com/postcards/...stance-levels/

Of course, there are some good articles from Sam Seiden too, search it from FXstreet too, could be a good reinforcement.

Cheers
Eric

A pending order at 1.5340 around, will see.........

Never get there........ such a flat market

See pic, look for r/n around 108

I'm going to bed, let the "long" run, bye

Yes, she really hitted my TP around 108, but after the little kiss on BE 1st

Guys,

You can't miss this post from Rob (Priceaction), if you are a fan of Sho's method.

http://www.consult-fx.com/?p=833

Cheers
Eric

oh..just another CT play
i guess that was DB and reaction with major support level?
and PA of course - double IB breakout

I drew both TLs in my lunch break, no play, but there were at least 3 times +10 play.

See U guys in US session

You caught me all the time, simple guy with simple play only (me)

Can I catch some before the Unemployment news?

Chicken out with +7, minor s/r level right there and news is coming, can be a sudden change of direction

I have participated in FF for a year and this journey has been very meaningful for me (in terms of trading knowledge gained). I'm very lucky here as there are so many traders who taught me a lot, Sho (Trade price), Rob (Price action), Kenneth Lee and many others. These traders all trade in different methods somehow, but after all, they all brought me to the new world of Price Action trading. I believe every trader would develop his own trading style according to his personality eventually, including me. And this is a must process from a newbie becomes a trader.

Talking about different trading methods, I find trend riding is the easier way to learn and adopt. But somehow I still picked counter trend trades in many occasions, hopeless. For trading time frame, M15 is my lover and the major s/r levels form H4 and above is my favorite. Occasionally I would switch down my trading TF to M5 while the market is dead slow. Recently, I even find my s/r levels from monthly / weekly charts for stronger confirmation. You see I'm such a crazy old man and am still developing my own designation.

But I do have something sure, for a short term trader looking for 10 or 20 pips per trade, the most important thing is the immediate price action, and take alert on those major s/r from higher TFs. For me, while I’m in trading, I would rather stick to my trading time frame (M15), rather than scroll back and forth between different higher and lower TFs, this approach could make me more easier to pick the immediate market pulse. Well this is the best lesson from Sho and really works for me in short term play.

Haha, why I’m now looking at higher TFs like weekly or monthly, because I want to see how strong of my picked s/r levels are in my trading TF. And somehow, I want to develop a better skill in longer term trading, it is the next major topic for me in 2011.

By the end of 2010, I did slow down trading and wrap up my trading plan, well those similar things like every trader does, the approach on money management on compounding, risk per trade, trade management for different setups, a health life for better trading result, always affirmative myself in the beginning of trading day etc. It’s the best year for me after the revision on my trading results over the years (at least in positive growth, the 2009 and before were all in negative, what a poor old man!! ) Another thing is to trim my trading A/Cs into 2 only. One for short term trading purpose as usual (MBT), and the other is major for testing and longer term trading (Onada). Both trading A/Cs only offer a normal leverage (US law) and no hedge allowance, so it can restrict my trading not in such aggressive way ~ always risk first.

I have enough rambling but the last thing I want to say is to stop this journal from this point, because I want to focus more on my trading and get a better balance on my daily life. For sure that I will still participate other threads but more likely be a silent member. May be sometime later I will open another thread for trading record purpose but not decide yet (I’ve tried to use blog / own web page etc. but FF’s thread is the most convenient approach for me). You know, keep our trading record day by day is the best way for self improvement, as we have to review our trading method, do more which works for you and remove those bad habits.

Best wishes to every traders.

Never give up if you really keen on this business. If you are still a loser, the only one you can blame is youself, not learn enough / learnt too much but not stick to one suits you / or the worst case is stop learning. I choose keep on learning but pick those suit my trading style.

Hey Eric!
Though its sad to see your leaving the journal behind it is totally understandable, our main focus after all is making money! I've definitely picked up some good stuff from you that's helped my trading, so im very grateful for your contribution

I wish you the best of luck my friend but I don't think you'll need it You're going to kick ass in 2011 im sure!