Michael's Forex Journal

After seeking for the perfect method or system I realized with the time that there is no such thing. Every one eventualy either quit this Forex staff after few blowed accounts or staying here because find out the potential and find his cup of tea.
In my opinion forex is 80% mind state and the other 20% is technique and understandig of forex world.
Mind state will differ sucsessful trader from Looser trader ( looser means in forex not in life)
I read a lot of Threads here : James16, Technical Analysis Fallacy ,DIBS of Peter Crowns,feb2865 and many more.
Different people with differenet mind make money in forex the common in theme to my opinion is Price action play.
I will try to put in here my thoughts on subjects . This is my journal so if any one want to coment i will be glad to hear .
If someone have opinion that is not lik mine it doest mean that he or i am wrong it is just his way to look on things.
I will try to write my rules that i try not to break (Try - means that sometimes i break them and then i event cant explain to myself why i didt it -> this is the 80% of mind that i am talking about)
OK Lets go and sea if i can keep up with journal
Regards
Michael

Thanks for the Forex Factory i fount this Thread -http://www.forexfactory.com/showthread.php?t=57639 -
It was long time ago . Most of the time i was a lurker and i am a lurker till this day.
The owner of the Thread is very Uniqe person.
He put his soul in his Thread And Learned people how to trade profesionally like he is.
He said in here : http://www.forexfactory.com/showthre...98#post1738198
"You see, the strategies that will work for you would be the ones that you conceive in your mind,cos, you know yourself best."
I liked everithing that he presented but i cant keep it up like him i made some accomodation for myself that i fill comfotrtable with .

I know that at any time The price can go Up or DOWN without any notice.
MY Trading Times are just the times whene there is a lof of acticity a mean in london session and than at the firs half of USA session. This is the more liquid Times that manipulation on price will be very hard to do and you need a very big money to move price This meand that only the big Dessitions of a big Players take into account. All the smaler ones can only folow the flow.
Like FTI said Price will not move just in one direction i understand it as price will always move in waves . Some times waves will be just corection ways and some times they will be impulse waves to the other direction.
I am as a trader have always to be on the guard when i enter tne position ( BattleZone).
If The entry is in the right direction i have to attack if the entry is in the wrong direction i have to Resque.

First Trade
Entry1 -entered by mistake ( not very big move) got out with a little loss
Entry2 - entered after confermation of a big move after second big move hesitated to enter before the big number 1.38 but after break of big move and continuation esidd to attack . Out with both after reaching 1.3788 on a big TF we can see resistance

Big Move = more then 20 pips
Small move = Less then 20 pips

Another Reason to get out Calendar news

My Possitions are very small i have first to prove to myself that i can make it
Then is just a matter of making bigger position with bigger account

Trading Hours- I put a volume on chart to stress Where and when the big money moves

Ok
First Day of The Week nothing interesting Ranging moves

Daily -Down So for me The Trend is Down i will look attacks to downside.
Somthing to have in mind is previous Week Low 1.2945 To look how the Marker React in this point
And Second point is 1.2873 Previous historical low January 2011 also point to look for clues about next moves.

Picture for Previous Post

Still The Trend is Down
I know that this time of year is a thin market so the sizes have to be small
An very nimble as FTI Told
Made A few atacks today suscessful
Thats it for today .
Michael

Lets see how it will progress
There is very critical level to be aware of historical LOW that the market pushued threw and got back at 1.2873
The big green BAR is 25 pips in 1 minute .
Overal Trend is stil down . Interesting to see if here will be a bottom .
But as i understand to meet botom we have to sees something like indesision in both sides and range moves
Now Lunch Time at NY

The Year 2012 Started
Volumes are getting higher this is the time to start .
My Sqew Because i am Just at my learnig Phase is Linear 1:1:1

Also my Resque is 1:1:2 and for very small time just to try to minimize the loss and if i come to break even it is closing for me and going on to try and look for another Entry.
My main entries are always with daily trend (major trend) because we will never know when the BIG Players will kick in .
So for me we are still going down.
There is a historical level that we have to be catious about him to see how the price will react there 1.2587 on 24.08.2010
Thats it
Back to the Reading of TAF Thread by FTI
Michael

Hi there
Today on FF user CYBER1 helped me to find an indicator That shows history of my closed positions. It looks very nice . this indicator made by PIPS4LIFE in this Thread "Improved OrderHistory mq4 script to display trade history on charts " BIG Thanks To him.
So here is The Chart of 6/01/2012
Comments to chart :
Green Line under is London session (hour before starts Frankfusrt session).
This was NFP day so all the trades were closed before the figure and than tried to folow the market again

Blue Arrow => Buy
Red Arrow => Sell
Blue V sign => Take profit
Scisors => Closing with loss
Thats all for now

Michael

My Two Days Fight Champaign
Almost Break Even After This Fight
Two Same charts Just one of them is Line and second OLHC chart
The line chart is easier to see
Michael

Major Trend : Down
My entries are downside .
Turn on wind for me is not an option when i am in position i commited to it.
If suits i will let it bleed (my position) and try to resque when there is a reason for me to deploy resque. Places for me to deploy is when After Higher High the next high couldnt make higher high. For Me is the understandig of HIP and LOP theory.
Here is a pictur of Trend and my Trades for the last two days.
Most entries are on Europe sessions or on Euroe and USA overlap.
Lines and OHLC is the same chart just that in lines easy to see the symbols.
Regards
Michael

Weekend thoughts.
The trend is still Down.
Next Major support level to watch and react on the EURUSD is 1.2587 was on 24.08.2010.
Conclusions From the Past week are :
1. Do not make an Entry that was on the basis of Just big move.
My Entry on 12.01 was just a moment of some sort of weeknes because of the big move DOWN on news. I though it it will continue but without any confirmation on chart. First wait for High that didnt beat the privious high.
Still to have to wotk on my MM table.
Too much resources have to put in to bring myself close to the market.
2. There is always a resque moment just need to wait for it and it maybe in the next session have to fight with myself mentaly to just look and not do anything until the conditions write for me.

Points to Preserv :
1. Stay With the Daily Trend.
2. Enter position if the conditions Write (Reject of the resistance with PA, Continuation of big move with confirmation. Add money if the condition still write. If the market makes move that the conditions are no more lasting need to wait for resque oportunity but even before to take aout last attack and wait to see how the situation unfolds.

Big Numbers - This number are also acts as suport of resistance need to see the reaction of price in this places.

No prediction Just react to the market.
I also learned as FTI said that it is more confortable to work with small position than bigones. It is hard to accept even when you in positive that retrae takes back a big chunk of profit. Easier to wo unload some position and look for the market and to add in another opportunity
Thats my thought
Regards
Michael

It is still very hard to me to fill the market pulse.
Something that makes to me to somehow fill the pulse is When i see price patterns on daily Like pin bars or outside bars or S and R zones
Just after i see a pattern i go inside 5 minutes battle zone.
My sqew are 1:1:1...
I never turn on wind and try not to resque
Still learning process
Still have some scorpions but who doesnt.

Took me two days to get alittle bit over break even.
My skew is still 1:1:1:...
Had to resque with the same skeq
My bias in first trade was up because of the pinbar break on daily
After that had to be dead in the water till oportunity came in to resque

Long Time Havent Been Here in my Diary.
Its Time to continue.
Started new fresh start This Year.
This two month were hard for me.
Two times i had to Resque very badly - means Almost 30 % of Account At Risk.
Like FTI said some times dont remember the exact words But i was something like that
" You need sometimes big money to save little money"
30% of account it is way to stressfull i need to work on not getting there and if i cant resque bite the bullet
There will be always another fight.
Money mannagement and EGO .
Still Strugeling to make my fights better. My Scope to cope with is daily. This is the trend that only in the main direction i will make trade.
Enough Writting here is my Last Trade from today.
I think This is my first two month that i am in a possitive teretory since ever in forex. Small Step for me.
Like FTI said it is an ants job .
Every body have a nice Weekend

4.03.2013
Good day for me is the day when i bring back all my troops home after attack even if i didnt get nothing from it.
There is always next day to fight.
On Daily We still in the downmove so all my positions will be in bear mode.
All entries marked with numbers on chart and in white circle
All exits with Letters and in white box
Entry 1 - Because of down impulse break previous low and Stayed (Scout) I never know if the move will continuie but i always think of how will i attack or how will i resque . Always ready for moves up or down.
Entry 2 - It was premature move for me - filled very uncomfortable with it so liquidate it (box A) in order to see how will unrawel the next moves.
Entry 3 - Because of The Lower High - Lower Low price couldnt get up. (second scout)
Entry 4 - After big pinbar and break to the down side.
Since there wasnt continuation to downside desided to lower my exposure to the market (and the time is lunch in US ) so i closed 3 entry almost break even (Box B)
Box C Closed all positons

My Two Day Fight .
Still EurUsd Down move on daily until it will Change i look only for Down moves.
Sometimes hard to deside which direction because Daily can be up 4hour can be down and
we never know when will corection start so easy for me to deside the daily direction and folow it.
It started yesterday. Entered with a scout . After confirmation of down move entered another scout
And when i thought that direction will still stand entered small atack. After my Attak the price got back and almost came to attack point
Didnt took the profit because of a fast move down.
My mistake was enter attack close to NY lunch ( if i want to fight so i had to enter another scout and not attack)
Price went against me looked for a place to resque. Didnt see any oportunety
Had to catch some sleep ( Not something that will FTI reccomened - i know that he would say that i have to babysit )
My position was relative small so it can be called as night portion of my trade/
Like FTI said when you go and cant babysit the position have to be smal and in daily direction because we never know when the price will step back to move.
Next Day (today) Started to resque. And after Resque i done one fight.
Mistakes for me - never attack close to lunch.

Another two day attack and resque.
Entry 1 - scout (daily Down lower low lower high )
Something got wrong -news - price went against me very hard. Waited for resque - Entry 2 first Resque
Then The day after Entry 3 (resque) - (lower low lower high on 5 min) Closed A resque fast - on a round number 1.3100
Closed B after a big move down that i didnt planed - faster NFP figures (windfall price)
Closed C just after the reason when a windfall happens we never know if the move will last that it is prudent to take money to the pocket and wait maybe try another attack after the sky will be clearer.
Daily Still down- after yesterday had some doubts about the trend - but we have to listen to the market and try to follow.