Buildcity in 2011 ~ Trading Journal

各位華人朋友請看此篇: http://www.forexfactory.com/showpost...0&postcount=35

Hi all,

After step back for a while I decided to start another journal.
My first Journal in 2010 is here:
http://www.forexfactory.com/showthread.php?t=241276

The main purpose, again, is to record my trading and my thoughts, but also a place to store my interesting stuff.
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A brief on my plays:

My entries always come from M15 (majority) or H1, and play within higher time frames' support and resistance levels.

Price Action trading is my core focus. a generous trader, his name is Sho (Trade Price in FF), he shows me what price action really is. His main and trading threads are here:
http://www.forexfactory.com/showthread.php?t=217281
http://www.forexfactory.com/showthread.php?t=222822

- I used to trade the pullback entries along the Keltner Channel or MA10, but still I find my trades were so aggressive to play counter trend trades. So after a while of struggling, I put up an additional MA to act as an second guide to bar my CT plays.

- Stochastic for divergence checking, not for entry.

- Candles in form of IB / OB / pin etc, chart pattern like DB/DT or H&S, 123 or HH/HL are all useful.

- One thing I have to thanks Sho again that he let me know how to trade with price momentum ~ trade along the strength and attack the weakness!!

- About support and resistance levels (or you can call supply and demand zones), I really have hard times to figure out what it is and how to put my priority on both momentum trading (along the trend) and s/r level plays (mostly against the trend). After all, think and rethink, try and retry, I finally find the price itself will let you know whether it wants to break the level in continuation basic or simply a breakout failure. I might be wrong, but at least I find my way to understand these 2 core elements and put both in my trading strategy. A good place to learn Supply and Demand zones, started by a good trader ~ Rob (Priceaction):
http://www.forexfactory.com/showthread.php?t=255586

My another favorite thread, started by Ken, who also trades with price action (with multi-MAs act as floating s/r levels) is here
http://www.forexfactory.com/showthread.php?t=216241

These guys all play differently, but their core focus is Price Action. Somehow you may probably find their entries are similar with each other, just they named the style differently.

- So all in all, my plays are based on higher TF's s/r levels, trade along the trend based on pullback entry within the trading zone, counter trend trades are major off from s/r zones etc.

Nothing special, just observe the overall structure, pay attention on immediate price action, if the price show hand in my expected direction, then go.

For pairs I look for, major on EU / EJ / GU / GJ / UC. I find these five are good enough for a part time trader who can only trade majoy in US early session for 3 to 4 hours.

My trading practice on scalping trades and longer term trades (input on 17-2-2011):
http://www.forexfactory.com/showpost...7&postcount=15

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Now lets start this fresh journal.

Comments are always welcome.

Cheers
Eric

You can call me City if you like

Here is an EJ H1 play. Entry based on upper resistance level (around 113.4), closed because the pin is forming.

Edit: haha, good escape!! 2nd chart after a while on M15

A losing trade on UJ, looks good initially and I was with the down move momentum. But the major fall from GJ / EJ didn't bring it down further. And afterall a good based was formed and upward force is forming. So closed with minor 6.

1st chart entry;
2nd chart exit (good base is formed)

A risky touch trade, losing down force right on support level 134.28. A pending order trade, made profit then quit immediately.

Forgot to take shot during trading, too quick, entry once a pin formed on support level. Quit with 10. Don't expect a home run when we play with counter trend trades, especially right after a major opposite move.

Alright, its time to take a break, go home 1st. See you all.

Happy trading.

Before the news caught some

end on r/n and didnt want to fright with the US news

See how far it goes, but the 113 seems to be quite hard to break...

Anyway, SL to BE +

Manual quit with 9 only, all GJ UJ and EU didn't look in my way, so sharp cut.

Add 2nd chart ~ divergence too.

Quick short in between the news

off trading today.

No good, caught 29p from Oanda and only 18p from MBT (got to pay the comission too!!)

2 trades in Oanda 2 positive trades
5 trades in MBT 4+, 1 minors

Good night
Eric

always look for better tomorrow.

Glad to see you back.

Hey man, you caught me.

Trade well

Here is one of my favorite sites from Rob (Priceaction). Plenty of good stuff here if you keen on price action trading.

http://www.consult-fx.com/

One day I have to play like this, I just like his trade

Well, you may see I trade both MT4 and Oanda a/c at the same time. That's part of my current practices.

For the MBT one, I used to play short term scalping trades and focus on 10 pips or some more. I like this way to accumulate my pips bit by bit.

For Oanda, alternatively I can allow bigger room for longer term trade development, not a big target though, but look for 50 pips per trade if room allowed, always be flexible.

This practice did allow me not to focus on scalping plays only, but also to develop a longer term trading sense.

Great to see you back in your own space.

May the pips keep following you in 2011.

Tks Mat, you trade well too, feel free to post here whatever time frame you traded. I can learn some more from you guys.

Cheers
Eric

Took me quite several bars

I'm currently riding on this

Seems no good, the upward momentum is losing before the GB news. Sharp cut