Welcome on board, I'm in
Ouch, a full bar loss..
Knowing is not enough; we must apply. Willing is not enough; we must do.
Start of my journey towards profitable trading with PA
- #121
- Feb 4, 2013 2:38pm Feb 4, 2013 2:38pm
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
- #122
- Feb 4, 2013 2:54pm Feb 4, 2013 2:54pm
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New 1D trade: EURAUD
Pending Buy limit @ 1.2810
Reasons:
1. Nice level with 2 clean swing touches
2. D + W HCR
3. FTB
4. Fib ret 23.6%
This will be a blind TT.
Pending Buy limit @ 1.2810
Reasons:
1. Nice level with 2 clean swing touches
2. D + W HCR
3. FTB
4. Fib ret 23.6%
This will be a blind TT.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #123
- Feb 5, 2013 6:15am Feb 5, 2013 6:15am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Missed 1H Trade: USDCAD (cancelled because price reacted swiftly without taking me on board)
Buy @ 0.9976
Reasons:
1. SFP at PPZ
2. 1D Bullish bias (already holding a Long position)
Lesson learnt. Better option to use market order, just to get rid of the anxiety and not missing any trades, unless price is too far away from my desired location.
Buy @ 0.9976
Reasons:
1. SFP at PPZ
2. 1D Bullish bias (already holding a Long position)
Lesson learnt. Better option to use market order, just to get rid of the anxiety and not missing any trades, unless price is too far away from my desired location.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #124
- Feb 5, 2013 6:32am Feb 5, 2013 6:32am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New 1D trade: USDCAD
Pending Buy limit @ 0.9965
Reasons:
1. DCC of S at D + W HCR level
2. RR to previous R
3. Retracement of double bottom breakout
Will close half position at FTA/BRN 1.0000
Attachment
Price seemed to find R at 365 EMA @ 0.999 level, which is inline with multi previous bar highs.
Decided to take 1/3 positions off, and move SL to BE.
Range market very obvious in 1H/4H chart. Decision of trade management was based on 1D chart, but with 1H/4H as more hints.
1D chart:
4H chart:
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #125
- Feb 5, 2013 2:35pm Feb 5, 2013 2:35pm
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Update:
Price seemed to find R at 365 EMA @ 0.999 level, which is inline with multi previous bar highs.
Decided to take 1/3 positions off, and move SL to BE.
Range market very obvious in 1H/4H chart. Decision of trade management was based on 1D chart, but with 1H/4H as more hints.
1D chart:
Attachment
4H chart:
Attachment
Stopped out. Was struggling to close near 0.999 area. However, hung on to the position. USDCAD can range alot, and it's better to take full profits at range top/bottom when price is ranging.
4H chart:
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #126
- Feb 5, 2013 3:02pm Feb 5, 2013 3:02pm
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Watchlist for 1H trades:
NZDUSD:
Nice level @ 0.8393 to look for SFP long entry.
USDCHF:
Nice levels @ 0.9118/0.9072 for breakout/RR trades. Prefer the 0.9118 level.
NZDUSD:
Nice level @ 0.8393 to look for SFP long entry.
USDCHF:
Nice levels @ 0.9118/0.9072 for breakout/RR trades. Prefer the 0.9118 level.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #127
- Feb 5, 2013 3:12pm Feb 5, 2013 3:12pm
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New pending 1D trade: GBPUSD
Sell limit @ 1.5690.
Reasons:
1. BEOB
2. PBT&CB D double LCS level
3. Plenty of space below
FTA @ 1.563 for trade management.
Sell limit @ 1.5690.
Reasons:
1. BEOB
2. PBT&CB D double LCS level
3. Plenty of space below
FTA @ 1.563 for trade management.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #128
- Feb 5, 2013 3:21pm Feb 5, 2013 3:21pm
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #129
- Feb 6, 2013 1:20am Feb 6, 2013 1:20am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Watchlist for 1H trades:
NZDUSD:
Nice level @ 0.8393 to look for SFP long entry.
Attachment
USDCHF:
Nice levels @ 0.9118/0.9072 for breakout/RR trades. Prefer the 0.9118 level.
Attachment
Buy limit @ 0.9916.
TP @ 0.919 (previous S)
Reasons:
1. Price broke through nice level with a big bullish bar.
2. Good space above the level.
*will upload a cleaner chart after I get home.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #130
- Feb 6, 2013 4:34am Feb 6, 2013 4:34am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Watchlist for 1H trades:
NZDUSD:
Nice level @ 0.8393 to look for SFP long entry.
Attachment
USDCHF:
Nice levels @ 0.9118/0.9072 for breakout/RR trades. Prefer the 0.9118 level.
Attachment
Long @ 0.8415
Reasons:
1. Strong rejection from a nice level which was marked in my watchlist.
2. Strong SFP + bullish PB signalling buyers' strength
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #131
- Feb 6, 2013 4:42am Feb 6, 2013 4:42am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New pending 1H trade: USDCHF
Buy limit @ 0.9916.
TP @ 0.919 (previous S)
Reasons:
1. Price broke through nice level with a big bullish bar.
2. Good space above the level.
*will upload a cleaner chart after I get home.
Attachment
Closed half position at 0.9145 as price broke through ATR top.
SL moved below entry candle/swing low which makes sense as a break below this level means price is back into the RM.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #132
- Feb 6, 2013 4:46am Feb 6, 2013 4:46am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Closed half position at FTA @ 0.8438, price reacted almost instantly at FTA.
Tightened SL to above 4H bar highs @ 0.437.
Attachment
*my SL was 0.847, and it was hit TO THE PIP. ahhaha. Isn't that awesome?
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #133
- Feb 6, 2013 5:18am Feb 6, 2013 5:18am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Update:
Closed half position at 0.9145 as price broke through ATR top.
SL moved below entry candle/swing low which makes sense as a break below this level means price is back into the RM.
Attachment
Manually closed all positions for 1.5R profits due to SFP formed with ATR projection, which would've been a SHORT entry in my book.
However, if I get another SFP back at my entry level, I will re-enter it.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #134
- Feb 6, 2013 7:43am Feb 6, 2013 7:43am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Update on USDCHF 1H trade:
Manually closed all positions for 1.5R profits due to SFP formed with ATR projection, which would've been a SHORT entry in my book.
However, if I get another SFP back at my entry level, I will re-enter it.
Attachment
A good call to manually close full positions
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #135
- Feb 6, 2013 2:42pm Feb 6, 2013 2:42pm
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New 1H trade: NZDUSD
Long @ 0.8415
Reasons:
1. Strong rejection from a nice level which was marked in my watchlist.
2. Strong SFP + bullish PB signalling buyers' strength
Attachment
A monster bearish bar stopped me out. No complaints here. Only thing was, would be better to wait for a retracement of the BIG SFP bar for a better entry price & RR.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #136
- Feb 6, 2013 2:59pm Feb 6, 2013 2:59pm
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New 1D pending trade: AUDUSD
Sell limit @ 1.0328 & 1.0358
Reasons:
1. PBT&CB strong D + W LCS level
2. Double Top pattern
3. Good space below
Sell limit @ 1.0328 & 1.0358
Reasons:
1. PBT&CB strong D + W LCS level
2. Double Top pattern
3. Good space below
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #137
- Feb 6, 2013 3:12pm Feb 6, 2013 3:12pm
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
1H watchlist: USDCAD
Very clean level to look for a break below and RR for a short entry.
Very clean level to look for a break below and RR for a short entry.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #138
- Edited 7:37am Feb 7, 2013 2:30am | Edited 7:37am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New pending 1D trade: GBPUSD
Sell limit @ 1.5690.
Reasons:
1. BEOB
2. PBT&CB D double LCS level
3. Plenty of space below
FTA @ 1.563 for trade management.
Attachment
The standard SL for this PBT&CB strategy should be behind the thrust bar. I compromised the SL, and put it slightly lower than the high of the thrust bar, and got stopped out by the massive bullish bar. Further more, the thrust bar was also a BEOB. PA traders will also place their SL behind the high of the BEOB.
Lesson learnt..
1H chart:
1D chart:
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #139
- Feb 7, 2013 7:38am Feb 7, 2013 7:38am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #140
- Feb 7, 2013 8:09am Feb 7, 2013 8:09am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New 1H trade: EURUSD
Long @ 1.339
Reasons:
1. Nice level with 3/4 previous clean touches as R
2. FTB, with acceleration to that level
This trade was abit risky, because of the super massive bearish momentum, but anyhow, will give it a go, and see what happens.
Long @ 1.339
Reasons:
1. Nice level with 3/4 previous clean touches as R
2. FTB, with acceleration to that level
This trade was abit risky, because of the super massive bearish momentum, but anyhow, will give it a go, and see what happens.
Knowing is not enough; we must apply. Willing is not enough; we must do.