Eiman's Trading Journey

Right...

Getting ready to rescue...

Good news just released for Euro

The euro was going up prior to the news release but now that the news has released it stoped going up!!!!

Update

I had to get off the charts for a few minutes. I come back to see the following. I killed all the troops including yesterday's positions.
It cost me about 1% of my balance.

why don't you try to zoom out... and get your point of reference from there...

try to start your trading with pre-trading exercise...

start with hourly... observe price action... the previous swing high and previous swing low... major candle moves... what direction it is telling you...

zoom in ... to 15 minutes... and observe closely those levels where a strong rejections happened... and how clear it should be ... now at 15... referring from 1 hour... it is more clearer...

by now you should have a direction and at least could see what will price gonna do next more or less...

open a 5 minutes chart... observe the same levels... from higher time frame

now what is it telling you? it should be more clearer now... what happened in the past.... why candles from highe time frame behave as such... after clearly seeing the previous price action... of how bulls or bears won each swings or push...

you can now have a good entry timing at 5 minute...

then dance your way through

once you're right and catches the right direction... or insync with price... just go with the flow... implemen your skews...

learn how to scale in and scale out...

remember... when there is no reason to stay... then square or stay flat.




what can you see from this chart? what is the levels trying to say? can yousee any candle exhaustions?

these question can help you see the bigger picture clearer

regards.

Thanks very much for taking the time to critique my trading.
I do zoom out. I normally start from the weekly charts and start zooming in to the 5min chart. When zoomed out I look for impulsive moves and try to get in on the retracements. The only thing is that I don't predetermine the areas which I would like to trade.
OK. So from your comment I gonna do the following:
- Inspect the higher timeframes (Which I did )
- Look at previous High and Lows and the price action at those places (Which I did more or less )
- Determine the areas which I would like to trade
- Observe PA at those levels
- Practice scaling in and out
- I will try to remember : "when there is no reason to stay... then square or stay flat."

M15 Zoomed out, rejection in a nice place

Sold 2 units

Sold another unit

And another...


NOTE: I'm NOT selling it because dongsky is!

Another unit deployed...

Another Unit sold...

I would have liked to add to my position here but since I won't be able to babysit them for some time, I'm not going to add any more. Looking for an area to scale down...

Good news for US

But going Up

I don't get it!
Looking at price action very closely

Scaled down, 3 positions remaining

Sold...

Sold...


It's so hard doing 3 things in one time:
- Working (9-5 job)
- Trading
- Keeping a journal

And another soldier...

I Had to get off the charts on the arrow. Decided to leave the positions as they are because of the rejections shown by the circles.

I'm still holding on to the trades from yesterday, I might consider scaling down to lower my exposure.

considering to scale down is best option at the moment... stagnant market... and place your troops back when price go to your direction backed with volatility... otherwise... doing nothing is wise strategy...

There she goes...

Looking to scale down

I find that doing nothing is hard for me. Must practice it.

scaled down...