WARNING! Plenty dumb ass trades beyond this point!
Hello,
I have been debating whether or not to start a journal here on FF for a while, there are arguments for or against one, as you are reading this you will know what my decision was.
To cut a long story short,
Been trading for about 3 years, the past 2 years have been devoted mainly to daily and 4hr chart trading with price action setups. I would now consider myself “reasonable” at trading these, however with only 1-3 trades a week means that progress is quite slow, and drawdowns can last for quite a while.
I have decided to try an learn to trade intra-day charts as well (5min-30min, but mainly 5min) for various reasons which are on a need to know basis…..
(I will still be trading daily and 4hr)
I am a huge fan of lagging indicators, oh wait that’s wrong, it should be “I hate lagging indicators“, therefore it is highly unlikely that I will ever use one, although I am not totally un flexible and will consider anything new.
I am in the progress of reading through Redswords11’s price is everything thread, which is quite simply a goldmine. I am learning quite a few new concepts there which I did not come across before, hopefully I will be-able to put them into practice along with what I have already learned in the past 3 years. Also in the process of reading Al Brooks "reading price charts bar by bar" which will hopefully give me a better understanding of PA.
The bottom line is, I will be using price action, supply and demand (support and resistance) zones for the basis of my trades. Looking to trade key levels (mainly), I especially like breakout and retest trading, which is my main strategy on daily charts.
Anyway enuf B.S.
If you want to post or comment then feel free, so long as your posts are relevant and constructive, or you want to learn with me I am more than happy to hear your thoughts and discus things together. All I ask is that you are respectful to each other.
If your posting charts please stick to the “theme” of this thread which is S+D and PA. I won’t shoot you, if you do post indicators, so long as your trades are based mainly on the above.
I want to say one thing more, which is that I am still trading this on demo and so far the results have been mixed, basically around BE for the past few weeks. It is my view however that screen time and experience are what makes a trader, rather than what one reads in a book or forum.
I intend to stay on demo for the duration of this year, I understand completely the amount of time that this will take, perhaps more than I have left on this earth.
I am using MT4 demo’s for charting and another br0ker for trading as I detest MT4’s order entry method, but the charts are good, as long as they stay connected
. Therefore you wont see buy and sell orders on the chart but I will write where trades were taken.
I can tell you that there will be plenty dumb trades taken here, but that’s what a demo account and journal are for- LEARNING!
Probably some more crap will come to mind after I post this so will add it later.
h2
Hello,
I have been debating whether or not to start a journal here on FF for a while, there are arguments for or against one, as you are reading this you will know what my decision was.
To cut a long story short,
Been trading for about 3 years, the past 2 years have been devoted mainly to daily and 4hr chart trading with price action setups. I would now consider myself “reasonable” at trading these, however with only 1-3 trades a week means that progress is quite slow, and drawdowns can last for quite a while.
I have decided to try an learn to trade intra-day charts as well (5min-30min, but mainly 5min) for various reasons which are on a need to know basis…..
(I will still be trading daily and 4hr)
I am a huge fan of lagging indicators, oh wait that’s wrong, it should be “I hate lagging indicators“, therefore it is highly unlikely that I will ever use one, although I am not totally un flexible and will consider anything new.
I am in the progress of reading through Redswords11’s price is everything thread, which is quite simply a goldmine. I am learning quite a few new concepts there which I did not come across before, hopefully I will be-able to put them into practice along with what I have already learned in the past 3 years. Also in the process of reading Al Brooks "reading price charts bar by bar" which will hopefully give me a better understanding of PA.
The bottom line is, I will be using price action, supply and demand (support and resistance) zones for the basis of my trades. Looking to trade key levels (mainly), I especially like breakout and retest trading, which is my main strategy on daily charts.
Anyway enuf B.S.
If you want to post or comment then feel free, so long as your posts are relevant and constructive, or you want to learn with me I am more than happy to hear your thoughts and discus things together. All I ask is that you are respectful to each other.
If your posting charts please stick to the “theme” of this thread which is S+D and PA. I won’t shoot you, if you do post indicators, so long as your trades are based mainly on the above.
I want to say one thing more, which is that I am still trading this on demo and so far the results have been mixed, basically around BE for the past few weeks. It is my view however that screen time and experience are what makes a trader, rather than what one reads in a book or forum.
I intend to stay on demo for the duration of this year, I understand completely the amount of time that this will take, perhaps more than I have left on this earth.
I am using MT4 demo’s for charting and another br0ker for trading as I detest MT4’s order entry method, but the charts are good, as long as they stay connected
. Therefore you wont see buy and sell orders on the chart but I will write where trades were taken.I can tell you that there will be plenty dumb trades taken here, but that’s what a demo account and journal are for- LEARNING!
Probably some more crap will come to mind after I post this so will add it later.
h2
