My trading journey | Page 189 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

nAVINs trading trading journey 153 replies

My Live Trading Journey 124 replies

GBP/USD, GBP/JPY trading, my journey 34 replies

My journey to trading success 0 replies

My Trading Diary-The Crazies Journey 8 replies

Attachments: My trading journey
Exit Attachments

My trading journey

  • #3,761
  • Sep 9, 2011 9:05am Sep 9, 2011 9:05am
Quoting dongsky
why you sound worried when you just catch a strong trend... but you did the opposite when you were counter trending that's part of learning i suppose...

but hey, that can be very costly

..............

but next time... on a strong trend... don't enter when it's forming her leg... wait at least for a pause or correction...

remember that trend never run in a straight line... it comes in zigzag and different forms... but not in straight line...

nimble now
Eddy

Sorry I disagree with you this time.
First time I went short I made 46 with one lot, I covered because she bounced twice at important support level, but she went trough it and I missed the second leg. I recovered a bit of that by going long. Now I am short again covered 1 lot and the rest is falling. I think my mistake lays that in this last short I should have entered before soon as I covered my longs, because she bounced off that important support turned resistance. But I was enjoying my shiraz. You cannot have every think in life.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #3,762
  • Sep 9, 2011 9:19am Sep 9, 2011 9:19am
Quoting dongsky
looking at your chart... i have a question...

why did you close your position? on what grounds or basis you come to a decision to close your exposure... was it because your TP reached or simply a hit and run MO? because i don't see any reason for you to exit position from that chart you posted.

a good weekend to you too...
Sorry I did not see this question.

I got out because she got very close to the important support turner resistance level and because she formed a long bar indicating a run of breath and an imminent retracement as she did, she them went up a bit more touched that level and fall down again.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #3,763
  • Sep 9, 2011 9:42am Sep 9, 2011 9:42am
Quoting mla
Sorry I did not see this question.

I got out because she got very close to the important support turner resistance level and because she formed a long bar indicating a run of breath and an imminent retracement as she did, she them went up a bit more touched that level and fall down again.

mla

don't be rigid... you have crystal ball? what made you certain that price will reject on that level?

why not instead use those s/l levels as a guide where you need to focus of what the price will gonna do when approaching that area... but not to quit or predict...

at times you will be lucky but most of the time... you aren't

3 bar/candle rejection at least the minimum, for me to say that the level is holding... and a reversal is due... but hey, i believe you're doing well.

anywayz... a good weekend to all...

p.s. goodluck to you... and be watchfull of scorpion... for they sting most of the time, if not die...

back to my cave now.... ciao!
Success consists of going from failure to failure without loss of enthusiam
  • #3,764
  • Sep 9, 2011 10:01am Sep 9, 2011 10:01am
Quoting dongsky
don't be rigid... you have crystal ball? what made you certain that price will reject on that level?

why not instead use those s/l levels as a guide where you need to focus of what the price will gonna do when approaching that area... but not to quit or predict...

at times you will be lucky but most of the time... you aren't

3 bar/candle rejection at least the minimum, for me to say that the level is holding... and a reversal is due... but hey, i believe you're doing well.

anywayz... a good weekend to all...
We are all different and we perceive things differently, that is the beauty of this existence, I can tell you what I see but you are not necessary going to see the same. What we can do is listening and let the others express themselves and maybe learn something that we do not know. I do not believe in absolute truths, in trading/life, I believe in people, and what they can generate blending theories with their own individual force. My trading is a consequence of thing in which you are also part of it .

And for that reason I thank you and everybody else

I close my second lot: +14 and +40 pips.

A good tango day and I fabulous week. And now I am definitely going to bed.


mla
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 138 KB
"The Heart is the hub of all dances; go there and chill out"
  • #3,765
  • Sep 9, 2011 3:50pm Sep 9, 2011 3:50pm
Sorry, this pic
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 139 KB
"The Heart is the hub of all dances; go there and chill out"
  • #3,766
  • Sep 10, 2011 1:20am Sep 10, 2011 1:20am
Very nice to have “you and your wisdom” back, dongsky.
You are not going to disappear again... aren't you?
Please, I beg you... stay with us.
This, without doubts, is the best place in whole FF.

Interesting discussion... yesterday.
I made my research and my math on that chart... and...
that line (mla's S/R 1.3837, the object of your intellectual curiosity...)
was exactly the Middle Pivot Point (50%) between S1 (3864) and S2 (3810).

Sometimes I use these lines.
They are useful and they work (because everybody use them...) ... that's for sure.
But, lately, most of the time they are disturbing my dance.
You are right as usual, dear Eddy... I either quit or predict near these lines... they become like fences, walls, constraining barriers.
On the other hand...
I'm scared of complete naked charts with no point of reference (in pure fti's style).
So, I'm now experimenting different solutions in search of my personal comfort.
And, meanwhile, I kill time... trying to kill my scorpions.
  • #3,767
  • Sep 10, 2011 2:06am Sep 10, 2011 2:06am
Quoting Jupiter
Very nice to have “you and your wisdom” back, dongsky.
You are not going to disappear again... aren't you?
Please, I beg you... stay with us.
This, without doubts, is the best place in whole FF.

Interesting discussion... yesterday.
I made my research and my math on that chart... and...
that line (mla's S/R 1.3837, the object of your intellectual curiosity...)
was exactly the Middle Pivot Point (50%) between S1 (3864) and S2 (3810).

Sometimes I use these lines.
They are useful and they work (because everybody use them...) ... that's...
Good for you finding the discussion interesting.

Eddy has got guts, he puts his money where his mouth is. Non soltanto parole, parole, parole e niente altro (Mina).

Maybe you should also join in with your trades.

Please find attached a weekly chart and as you can see prices have always had a great reaction there, yesterday was a particular day but not every day is.

mla
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 140 KB
"The Heart is the hub of all dances; go there and chill out"
  • #3,768
  • Sep 10, 2011 5:25am Sep 10, 2011 5:25am
Quoting Jupiter
Very nice to have “you and your wisdom” back, dongsky.
You are not going to disappear again... aren't you?
Please, I beg you... stay with us.
This, without doubts, is the best place in whole FF.

Interesting discussion... yesterday.
I made my research and my math on that chart... and...
that line (mla's S/R 1.3837, the object of your intellectual curiosity...)
was exactly the Middle Pivot Point (50%) between S1 (3864) and S2 (3810).

Sometimes I use these lines.
They are useful and they work (because everybody use them...) ... that's for sure.
But,...
Franco my friend

that is exactly what i'm trying to convey into that conversation but seems to be not so important for some... tninking that winning little boost confidence but without proper pain-treshold developing... it will be just a matter of time that a wild storm will wipe out equity

loosing is part of success...

now if you're using fibo extension/ retracement levels again is just a guide but not to give signals or trigger your trade entries and exits... to me this is rigidity when people use this to predict price reversals...

easy said than done... let price prove you wrong... don't exit trade beacause you thought that it already move quite far enough... most of the time, price is illogical... therefore best to follow her lead.

feel the market... pulse her every move... and in no time you will find yourself ridding her flow...

support/ resistance level, or sometimes i called it reaction levels... are good indicators to warn me... if price, for example, nearing or approaching a level where there was a clear price bounce or say rejection (i.e. after few candles rejected at more or less levels) then this to me required extra attention... and nimbleness applied.

if for whatever reason,m price will do the same behaviour, and if i'm heavily exposed... this is my trigger to scale down my positions... and if it breakout instead with a forcefull move (i.e. with a bold candle, closed far above that level... then i will preapre my next batch of attacks... normally i will just wait a small correction (using smaller tf to time my entry)

however, if that level still is strong... and saw a rejection... i will just square... best time to know when to exit... is when you feel discomfort and un-easiness...

use them by all means but should know its purpose...

and yes, experimentation is the only way for you to find your edge... and your nitch in trading...

eventually you will find your best entry signals/ triggers... and all this through experimentation... the key to survive in this business is... always be HONEST to yourself...

a good weekend to you, and to all.

Success consists of going from failure to failure without loss of enthusiam
  • #3,769
  • Sep 10, 2011 6:44am Sep 10, 2011 6:44am
Quoting dongsky
Franco my friend

that is exactly what i'm trying to convey into that conversation but seems to be not so important for some... tninking that winning little boost confidence but without proper pain-treshold developing... it will be just a matter of time that a wild storm will wipe out equity

loosing is part of success...

now if you're using fibo extension/ retracement levels again is just a guide but not to give signals or trigger your trade entries and exits... to me this is rigidity when people use this to predict price reversals......
Hi Eddy

Because I was part of the discussion I would like to have a say regarding your points.

1) Regarding the wipe out, I do not think that is possible if proper money management is used.

2) "Loosing is part of success" very true but I am here not to lose.

With the rest I totally agree specially with "feel the market... pulse her every move... and in no time you will find yourself ridding her flow... " part.

I disagree little with the rigidity because I found it a bit rigid.

And most importantly I found this difference of opinion very healthy for both of us and specially for the trading community, but of course if you do not feel the same just let me know.

Cheers
mla
"The Heart is the hub of all dances; go there and chill out"
  • #3,770
  • Sep 10, 2011 10:37pm Sep 10, 2011 10:37pm
You will not make money long term until you know enough about your personality to find a trading style that is compatible. You need to be able to follow your rules comfortably allowing you to enter and exit trades with minimal or no uncertainty or anxiety. One you have mastered a method of trading, if you feel stress while trading, the either you haven't yet found your style or yourself.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #3,771
  • Sep 12, 2011 12:11am Sep 12, 2011 12:11am
Half-awake...
A cup of coffee in my hand...
Trend down everywhere... nice V-formation... short!
(If sure act fast...)
And My Lady gave me a wonderful 100 pips gift.
Thank you...
Why not all the days begin like that?
Squared at 3500.
Attached Image
  • #3,772
  • Sep 12, 2011 12:33am Sep 12, 2011 12:33am
Quoting Jupiter
Half-awake...
A cup of coffee in my hand...
Trend down everywhere... nice V-formation... short!
(If sure act fast...)
And My Lady gave me a wonderful 100 pips gift.
Thank you...
Why not all the days begin like that?
Squared at 3500.
Nice one

mla
"The Heart is the hub of all dances; go there and chill out"
  • #3,773
  • Sep 12, 2011 12:56am Sep 12, 2011 12:56am
After "the Campaign of August" and its suffering, I'm trying to redefine my behaviour.
Call it "permanent defensive mode", if you want.
Market is changed. Craziness is galloping. Anything is possible more than ever...
My aim now is not "to earn more money to have a bigger account" (lol...)
(I removed the power of skewing from my studies at the moment).

I simply try to dance well... as best as I can... and that's all.
I want nice smooth trades with good mindset, in absolute relax...
Always ready to change... to be in tune with the dance and its rhythm.
In this phase (my "moth" stage... do you remember the story?)
I'm concentrating only in improving my reading skills of the pure Price Action.
Perfectly conscious of the "lost opportunity" cost.

This is my1 minute chart.
(always on the screen for timing control and better view of previous High and Low)

I'm experimenting this chart-set... and I'm finding it not too bad:
15m with 1 SMA = 1h and Major PP
5m with only 3 EMAs (half-naked... lol)
1m with 3 EMAs, PP and MPP)

First trade: small scout long to pick up informations (squared on the Doji, Gravestone on 5m).
Pause of reflection (is it a correction or a reversal? Where is My Lady going? NY is coming!!!).
Eyes fixed on the MPP (rejection or breakout? What's going on?)
Three rejections... red light on 15m...
Three separated trades short... in/out... simply searching my entry/exit with minimum risk.
The second one was heavy loaded (3rd Elliott impulsive wave?) using the foreign cap "cushion".

Too conservative? I don't know... but I'm learning a lot.
Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 55 KB
  • #3,774
  • Sep 12, 2011 1:48am Sep 12, 2011 1:48am
I made a mistake in the addiction: in the previous trade total P/L was +199,16 pips.

Man, I accept to be challenged to a duel only by the market.
This is dongsky's home. More politeness and less "electrity", please.

Apologies Eddy... I promised less show-off.
Ma quando è necessario, è necessario.
(When we need... we must!!!)

Back to my cave... I'm very sad and sorry.
  • #3,775
  • Sep 12, 2011 2:10am Sep 12, 2011 2:10am
Quoting Jupiter
I made a mistake in the addiction: in the previous trade total P/L was +199,16 pips.

Man, I accept to be challenged to a duel only by the market.
This is dongsky's home. More politeness and less "electrity", please.

Apologies Eddy... I promised less show-off.
Ma quando è necessario, è necessario.
(When we need... we must!!!)

Back to my cave... I'm very sad and sorry.
No worries
I will step out, I did not see it as a challenge, but only as an incentive.
Good luck.

mla
"The Heart is the hub of all dances; go there and chill out"
  • #3,776
  • Edited 3:54am Sep 12, 2011 2:21am | Edited 3:54am
Hi guys,
I am in a hospital and hope I will be going home soon.
Go ahead with what you are doing, I won't be offended or whatsoever.

I have difficulty using my phone to access internet, I forgot
To bring my ipad with me. I will check your charts later.

Regards,
Eddy
Success consists of going from failure to failure without loss of enthusiam
  • #3,777
  • Sep 12, 2011 3:08am Sep 12, 2011 3:08am
Quoting dongsky
Hi guys,
I am in a hospital and hope I will be going home soon.
Go ahead with what you are doing, I won't be offended or whatsoever.

I have difficulty using my phone to access internet, I forgot
To bring my ipad with me. I will check your chargs later.

Regards,
Eddy
Wish you a speedy recovery kabayan!
  • #3,778
  • Sep 12, 2011 3:53am Sep 12, 2011 3:53am
Quoting eraptheman
Wish you a speedy recovery kabayan!
Thanks Kabayan!

nothing serious though

i'm watching charts now... waiting for a retest at 3560 levels... and if price is good then i will buy...

but i should not take for granted EU's strength... they're still in deep shit...

for now i have to wait and see what she'll gonna tell me

Attached Image (click to enlarge)
Click to Enlarge Name: 12 09.jpg Size: 92 KB


Success consists of going from failure to failure without loss of enthusiam
  • #3,779
  • Sep 12, 2011 3:58am Sep 12, 2011 3:58am
Quoting Jupiter
Half-awake...
A cup of coffee in my hand...
Trend down everywhere... nice V-formation... short!
(If sure act fast...)
And My Lady gave me a wonderful 100 pips gift.
Thank you...
Why not all the days begin like that?
Squared at 3500.

it's a good day for you

but we normally deployed our scout on the first pull back upon the formation of the 1st leg... and implementing skews as it goes candle per candle...

good to know you are well...

regards,
Success consists of going from failure to failure without loss of enthusiam
  • #3,780
  • Sep 12, 2011 4:01am Sep 12, 2011 4:01am
Hospital? Waiting for your news.
34 traders viewing now