My trading journey

Hey dongsky is it because of the shadow off 4291 why you say anything can happen? cause i'm..... i was thinking it's still going down. But i'm wrong at the moment but that was my thought process. Thanks.

no. but because of few news releases that's due today... and i believe it will drive the market wild... that's why i'm very conservative in my exposure...

just be nimble...

Thank you

Squared!!! 4277

... a good trading day...

still ridding my shorts heavilly... thanks to all those buyers... for giving me mountains of pips

it's not for to play!!! be carefull now...

... i guess, next stop will be 4150 ???

...don't catch a falling knife???

First scout long at 4250 ... killed.
Second long at 4225...

Squared 4287...

Maybe just a stupid upward move post-hike...

dongsky,

when you feel the price will change its direction, do you check on other correlated pairs or you just focus and make a decision on the pair you're dancing with?

... already give warning that's the reason why i'm very conservative on my attacks... and i was long squared... but couldn't post my updates... ff hangs... duh!

anywayz... i feel it will gonna be a side-way price action ... but again, we can never be certain... just be nimble...

regards,

where will i start...

the truth is... i don't know... i just feel the price action...

using 3k is a good tool to see a strong trend... when in-sync...

monitoring different time frames for entry and exit timing...

and i always put in mind... the law of motion... when in motion... it will stay in motion not until a strong or extra ordinary force will hit against it...

and the other law of motion... there is always a same reaction to an action....

i just go with the flow... when i'm a bit sync with my lady... then i will probe a scout... when right... then i will execute my MO...

still ... i don't know...

I'm using only my scout... in/out...
This thing may go up...

See a shooting star forming... out!

fair enough..

another question, on scout, lets say you realize scout is wrong, do you kill it right away and flip or do you consider letting it run a little bit and think about rescuing it later at another reversal point?

sorry for too many questions.
but i really appreciate your time.

Too early... what a shame... she is really going up!

Dear Eddy, I want to thank you again.
For what I have learned and I'm learning from you and your amazing journal...
day after day...
Thanks for your lessons and your kindness...
And, please, be patient with me (humble and committed student) and my poor English.

depends on the situation your scout is in...

remember not all wounded or underwater scout can be rescued...

once i have a wounded scout (price goes against me)... i normally zoom out from my normal tf view and look for a possible s/r that might have a high potential of correction... and only then i will start calculating to determine how many troop i need to re-average my position... so that i will know roughly how many pips i need to make to be BE.

...but there's danger with this approach...

this is not suitable for a strong and trending market... with a good momentum swings because most of the time... they run a long leg before short correction... and continue to its direction... and if this happens... your scout will be trapped and everything will snowball against you...

and another thing, sometimes i thought i need to rescue but most of the time, i noticed, i was just trapped in an extended and complex consolidation... and only to find out that the price will continue to its original course...

... to be honest... i still don't know the right answer for you question...


regards,

p.s. what is a reversal point??? in hindsigth it is easy to pin point a reversal zone but when you're watching it in real time, while market is slowly (or somtimes rapidly) revealing herself... it is not easy at all...

not until its over and finished reversing... you won't know that it was reversal...

feel and pulse the market...and go with the flow... when wrong... either cut them off straightaway or do a rescue... but rescue must be quick and swift... don't overstay...

sorry to hear that...

like driving a car... when in doubt... brake! admit when you're wrong... and check and re-check your positions... and do what is necessary to be done... it's your call... but at least you have to do something... not just let your loosing position loose some more without any clue of what's hitting you...

if there's no reason for you to be in that position... square! and look for another opportunity...

again it's just me franco...

p.s. you're english is fine

Thank you Eddy!!
though still in the office, just thought to give a quick look in to your journal as always.

Have a nice day !!