Alv Trading Journal - Price Action w/ Sentiment

Hi

Have you had lessons in risk trade management? Once your up for the day, there is no reason to lose money all day, if you manage your trade and risk. Good luck with trading.

Hello Mr Alum,

Yes surely i have

The problem is lies within the market is self.

1.Stop hunt.

Nowadays lot of people and institutional know hot to read order flow and doing a stop hunt. They're hunting Breakeven Stop or Stop Loss.

so then, with a good money management (get breakeven as soon there is quite enough room for drawdown) most likely the account will be hard to grow.

2.Fade move.

Not enough with just a stop hunt. people now use fade move like failed break out or huge trading range. With this the price is hard to guess whether it will swing or not, which is usually not and eventually getting you back to a breakeven (good money management: let the profit run).

The harder part is even when you sure it will swing don't forget about the stop hunt. If the trade is, for a moment, profitable and you get breakeven just in case it's a fade move, they will hunt it.

3.Low risk, high gain. can you?

Yes it is possible, but very rare. i see the occasion is very low. which make the account, again, hard to grow (good money management: low risk, high gain. only trade the best setup).

4.slow growth with low risk or fast growth with high risk?

It's a trade off, of course.

And because i'm going to do a trading for a living, i choose fast growth with high risk (scalping that is, which the main enemy is the spread). It makes the money management a bit worse. The only way to improve the outcome is by increasing the win to lose ratio. And that could only be achieved by experience and a good technique.


sorry if the post is a bit long. it just so to make me remember

Buy @ 1.05249

TP @ 1.05600, SL @ 1.05143

Note:
Pullback High 2, EMA, Up Twin, all in strong trend.

This is the first time i buy in pullback

Buy @ 1.05249 got SL hit @ 1.05143 = - 10.6 pip

Note:
looks like the last swing was a second leg from the move CPI move. i should've expected a two legged pullback move.

Sell @ 1.05153

TP 20 pip, SL @ 1.05253

Note:
bar on 11:20 had gone through the 10:05 pullback. Looks like the last swing was climax and already past far through trendlines. the entry is on breakout pullback

Sell @ 1.05153 got SL hit @ 1.05253 = -10 pip

Note:
before reversal after a 2nd leg trendline breaking pullback there should be a test of the old extreme. i forgot to anticipate this. Nevertheless the price looks like should be still a bear.

I've got to go out.

Pending Sell @ 1.05129

TP 30 pip, SL 11 pip

Note:
Reversal has happened, waiting for the test of the old extreme to fail

Sell @ 1.05129 got SL hit = -11 pip

Note:
Actually this is a good trade, before the spike ruin it.

Total gained today :

-10.6 - 10 - 11 = - 31.6 pip

Loss day. but still have some + pip covered from 1st day. Tomorrow will be Australia Day. Maybe there will be lesser chance to be traded.

Note:
Looks like i've trade comfortably now, but still careless. need to be more careful.

Still too hasty, i have to take the time to read the setup and strategy.

I think i should create expectations of price. That is so i know what to do when the price act as expected and do the trade quick and accordingly

Sell @ 1.06605

TP not set, SL @ 1.06785

Note:
Reversal (overshoot has happened, broke many trendlines), Lower high has happened, CCI confirmation, the price now is on consolidation.

wich pair you trade?

AUDUSD

Feel something strange about the ongoing trade.

Somehow the last swing highest bull close isn't covered yet. Usually this close is covered/retouched not long after reversal, or the reversal is just not ended yet.

What should i do...?

Sell @ 1.06605 got SL hit @ 1.06785 = - 18 pip

Note:
My suspicion was right. the last highest swing bull is just covered now. Should get more careful

Also, i should have count the leg first.

Sell @ 1.06527

TP 40 pip, SL @ 1.06635

Note:
Actually i was trying to catch the first pullback. but i missed it. and now the selling price is even higher compared to the price if i had not missed.

Total gained yesterday

= - 18 pip

The last trade is still floating. my first night rollover.

Note:
Need to be more careful. See every possibilities.

Before going live, i was trading much more time with EUR/USD than AUD/USD. and now i realized that AU is not the best to scalp. Hence i swing my last trade. Maybe i will scalp in EU and swing in AU.

Sell @ 1.06527 got SL hit @ 1.06300 = + 22.7 pip - 1.8 (rollover) = 20.9 pip

Note:
I'm not good at predicting the price of swing :/ Could get 50 pip but loose it.

Buy EU @ 1.31046

TP 10 pip, SL @ 1.30951

Note:
Double bottom while it's higher low from the last swing. entered after pullback. CCI confirmation

Buy EU @ 1.31046 got SL hit @ 1.30951 = - 9.5 pip

Note:
Don't know quite sure what's wrong. The leg counting is right. but looks like the double top effect from swing high this morning is higher than the double bottom recent.

Too much failed trades. I'm getting back demoing for a while.