A Trading Journey - S&R, RNs and PA | Page 3 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

THE JOURNEY TO TO BEAT WARREN BUFFET& jeff bezos 0 replies

ECN && STP && Scalping && Hedging - Broker Review - Oct 2009 24 replies

Forex PA & Technical Trading - My Journey to Sucess 563 replies

nAVINs trading trading journey 153 replies

trading and spiritual journey... 36 replies

Attachments: A Trading Journey - S&R, RNs and PA
Exit Attachments

A Trading Journey - S&R, RNs and PA

  • #41
  • Jan 13, 2012 3:18am Jan 13, 2012 3:18am
47 minutes to cable H4 close. Chart says it all

Also hoping for a clean break for this beautiful CADJPY chart.

Shame it's a Friday
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdh4.gif Size: 34 KB
Click to Enlarge Name: cadjpyd1.gif Size: 22 KB
  • #42
  • Jan 13, 2012 4:22am Jan 13, 2012 4:22am
Quoting Sgrb1
47 minutes to cable H4 close. Chart says it all

Also hoping for a clean break for this beautiful CADJPY chart.

Shame it's a Friday
Cable not taken. Weak close
  • #43
  • Jan 13, 2012 9:15am Jan 13, 2012 9:15am
Quoting Sgrb1
Cable not taken. Weak close
Cable trade now in good profit.

It's frustrating watching these moves and not being in. I haven't called a trade yet that hasn't gone into decent profit.

I guess one could say that it's good discipline, but another could say that I'm being a little too conservative.

Maybe I'll try being a bit more keen next week..
  • #44
  • Jan 13, 2012 9:55am Jan 13, 2012 9:55am
I had 2 excellent trades this week on USDCHF. Caught the nice move today closed out 2 for 160+ this morning. For the week chalked up 200+ pips. I'm not rich though because I am only trading a mini account. For the year up 1.5%.

I hear your frustration and I have a few comments. Don't know if will help or not but will try.

Trading any market is risky. No news there. So if we play the FOREX game we must take the risk to enter the market. We can decrease our fear of loss by having a clear set of trading rules. These rules must include unmistakable and unambiguous criteria for entry and exit. Losses will happen in the best methods/systems so your money management rules also must be solid and unwavering so you can take some comfort in knowing that your losses will represent no more than 1 or 2% of your account. Finally you have to have faith in your trading method. So far I have found no method that is 100%. Again no new there. But I have developed a method that I trust completely and I trade it exclusively. Win or Lose!!! So far for the year I'm feeling pretty lucky. No losing trades!!! I know that won't last long but that's okay because I know the losses will be minimized and my method allows for the winners to run nicely so profits are maximized.

Anyway enough rambling. I see your analysis and it seems pretty solid but I can't say I know for sure your entry and exit criteria. Take care and good luck!!!
  • #45
  • Jan 15, 2012 4:58pm Jan 15, 2012 4:58pm
Hi Winston.

Good trading on the swiss. I have to agree with everything you have said. I had a problem with fear in the first 12 months or so of trading, and I think it is probably something that the majority of traders will experience at some point in their career. I have to say though that I have learnt to overcome this, and it's not this that is keeping me out of the market.

It's the fact that I just don't feel that any of the setups I have seen recently are good enough. Simple as that really. They always have a negative that is keeping me out. This is why I believe I need to be a little less selective, which is my aim for the following week.

I haven't touched on the exit or entry criteria here just yet, but I will get around to it. I think a few weekends spent in are ahead of me after this Saturday night, so should have some free time to put my criteria on paper.

I appreciate the reply, all the best.

SG

Quoting Winston Reed
I had 2 excellent trades this week on USDCHF. Caught the nice move today closed out 2 for 160+ this morning. For the week chalked up 200+ pips. I'm not rich though because I am only trading a mini account. For the year up 1.5%.

I hear your frustration and I have a few comments. Don't know if will help or not but will try.

Trading any market is risky. No news there. So if we play the FOREX game we must take the risk to enter the market. We can decrease our fear of loss by having a clear set of trading rules. These rules must include...
  • #46
  • Jan 16, 2012 3:58pm Jan 16, 2012 3:58pm
Quoting Sgrb1
This is one HELL of a squeeze below 1.05. Looking forward to see what happens soon..
Shame this BEOB wasn't bigger. Divergence, trend line break, BRN, it was looking good. I'll continue to watch.

CADJPY STILL tightening up. Hopefully we'll see some moves tomorrow after today's bank holiday.

SG
Attached Image (click to enlarge)
Click to Enlarge Name: audcadh4.gif Size: 26 KB
  • #47
  • Edited 4:08am Jan 17, 2012 3:15am | Edited 4:08am
Order going in for AUDNZD. Buy 1.28 plus spread, quite a large stop at 1.2715

edit: Forgot to add, this will be a 2% risk of the £1k account. Targets are set, will go over when(if) trade triggers
Attached Image (click to enlarge)
Click to Enlarge Name: audnzdd1.gif Size: 31 KB
  • #48
  • Jan 17, 2012 3:44am Jan 17, 2012 3:44am
CADJPY breaking out and pushing higher on the H1. Hasn't given me a chance to get on board so I'm hoping this is a false break!
  • #49
  • Jan 17, 2012 3:55am Jan 17, 2012 3:55am
Quoting Sgrb1
Order going in for AUDNZD. Buy 1.28 plus spread, quite a large stop at 1.2715
Watching this too...loved the A/N short last week at 1.3040ish...

E/U short & A/U longs as well...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au.jpg Size: 74 KB
Click to Enlarge Name: eu.jpg Size: 73 KB
  • #50
  • Jan 17, 2012 4:05am Jan 17, 2012 4:05am
Quoting sam0182
Watching this too...loved the A/N short last week at 1.3040ish...

E/U short & A/U longs as well...
Very much like the Aussie aswell, very similar looking to that Kiwi last week (or week before), minus the RN.

EU would need some good PA for me. It just seems a little 'over-extended' down here for me, like it needs a decent correction before moving any lower. But we trade our charts

Thanks for the post.
  • #51
  • Jan 17, 2012 4:14am Jan 17, 2012 4:14am
Order placed for CADJPY, entry 75.77 plus spread. Chart and details to update very shortly.

1.5% risk.
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpyh4.gif Size: 31 KB
  • #52
  • Jan 17, 2012 4:23am Jan 17, 2012 4:23am
Clean lines.

How's 1.48 for a short? Not for me on a touch trade, maybe with some PA.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaudd1.gif Size: 34 KB
  • #53
  • Jan 17, 2012 4:50am Jan 17, 2012 4:50am
CADJPY triggered, I'll be following my stop closely on this one.
  • #54
  • Jan 17, 2012 8:05am Jan 17, 2012 8:05am
Quoting Sgrb1
CADJPY triggered, I'll be following my stop closely on this one.
Reducing my risk on this one as I'm not keen on recent performance, not a hard break, double hourly pin bar forming. Stop now just below last H4 BUOB
  • #55
  • Jan 18, 2012 2:40am Jan 18, 2012 2:40am
Quoting Sgrb1
Reducing my risk on this one as I'm not keen on recent performance, not a hard break, double hourly pin bar forming. Stop now just below last H4 BUOB
Stopped, -0.9%
  • #56
  • Jan 18, 2012 8:36am Jan 18, 2012 8:36am
Seems like an odd rise into 1.05 on this AUDCAD, note the divergence. I wouldn't be surprised to see this suddenly drop. A nice BEOB would be useful.

AUDJPY getting squeezed between the 80 BRN and asc TL. Wait for the breakout.

AUDNZD pushing lower, approaching buy order.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audcadh4.gif Size: 25 KB
Click to Enlarge Name: audjpyd1.gif Size: 25 KB
  • #57
  • Jan 19, 2012 2:44am Jan 19, 2012 2:44am
Quoting Sgrb1
Seems like an odd rise into 1.05 on this AUDCAD, note the divergence. I wouldn't be surprised to see this suddenly drop. A nice BEOB would be useful.
AUDCAD collapsed as predicted. No PA for me to get on board.
  • #58
  • Jan 20, 2012 3:43am Jan 20, 2012 3:43am
THAT is a BEOB. Last time we were back here (2001) price respected this RN very well. If we close like this, I'm in.

edit: Very similar setup on CHFJPY, but against a confirmed recent SR pivot
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpyh4.gif Size: 29 KB
Click to Enlarge Name: chfjpyd1.gif Size: 23 KB
Click to Enlarge Name: chfjpyh4.gif Size: 21 KB
  • #59
  • Jan 20, 2012 10:40am Jan 20, 2012 10:40am
Currently in the CHFJPY short. Just dangled about all day, looks like I'm holding over the weekend. Will post numbers later.

Quoting Sgrb1
edit: Very similar setup on CHFJPY, but against a confirmed recent SR pivot
  • #60
  • Jan 22, 2012 4:16pm Jan 22, 2012 4:16pm
Quoting Sgrb1
Currently in the CHFJPY short. Just dangled about all day, looks like I'm holding over the weekend. Will post numbers later.
Closed on the open at 82 as it's more than likely to close this gap. +37 pips. Risk was 65 pips, 2%.

Closed +1.14%. Basically just up on breakeven on the week, pretty poor really. Let's see what this week brings...
0 traders viewing now