Price Action Trading (PAT) performance log

This is not a place where I will be making predictions or doing market analysis. I am not good at it, but thankfully to succeed in the markets one does not have to be.

Most of my trades are taken off a 3 minute chart. Therefore they will not be logged in real-time.

I am still working out the "kinks" on how this log will go, so this first post may not represent how things move forward.

2/11/13

P/L = $310.50

Three trades taken. Trading Station snapshot reflects all trades. Disclaimer: because I am just starting this out, I have taken these trades in DEMO. Going forward unless otherwise stated, all trades will be LIVE.

Thoughts:

Missed the first Fakey signal shown. When there is a WRB Hidden Gap that is not yet confirmed as a Key change in the Supply/Demand Dynamic, a trade signal that appears prior to a close of the hidden gap is valid. Pay more attention to the appearance of "inside bars".

Took the Fakey 2B as trading plan dictates. The last two intervals look like a FVB signal which gives even more confidence.

2/12/13

P/L = $120.00

Three trades taken. Two wins and one loss. Trading station snapshot reflects all trades.

Thoughts:

Valid Bullish Fakey pattern trade taken. If you missed this entry, the price action of Pt1 would create a valid Whipsaw pattern. I felt pretty good taking this trade since there were long lower shadows.

2/13/13

P/L = $29.21

Three trades taken. Two wins and one loss. Trading station snapshot reflects all trades.

Thoughts:

Overall thoughts first. Took a trade in the Yen as part of a desire to trade more than just one currency (the Euro). It did turn out to be a loss. Taking losses is part of trading-they are the cost of doing business. Nevertheless, I think I prefer to focus on the Euro. Specialization is okay.

I need to think about moving back to futures.

Third trade shown. I should have let the last 1/3 of the position run using the Supply/Demand Zone below as the profit target.

This was a nice set up. I especially like the Bearish Price Divergence. This is an advanced price action signal and I want to be looking for it more often. Besides being a Bearish Price Divergence signal, it was also a Fading Volatility Breakout (FVB). When I get confluence of more than one signal, I have more confidence in taking the trade.

The main purpose of this thread is to be a performance log, however, I will also use it at times as a chart dump.

For me it's all about seeing what I want to see, where I want to see it. So most of these charts will focus on the "what I want to see" (i.e. price action patterns).

2/14/13

P/L = $100.40

Two trades taken. Two wins. Trading station snapshot reflects all trades taken.

Thoughts:

This was a potentialy dangerous day for many.

Understanding the price action prior to any trade signal is key. Focus on the price action as price nears a Supply/Demand Zone.

2/15/13

P/L = $0.00

No trades taken today. However, a hindsight look at the market reveals that this would have been a down day. It looks like the first trade would have been a winner. After that the next two trades would have been for a loss.

It is possible that I would have not taken the first trade, therefore it would have been two straight losses out the gate. At this point I would have stopped for the day. Or at least taken a step back for a few hours before jumping back in the fray.

Just a chart dump.

Really nice example of a Fakey OKR.

2/19/13

P/L = -$51.31

Two trades taken. One win. One loss. Trading station snapshot reflects all trades taken.

Thoughts: Bad day. I missed an nice trade at the end of the day. Loss in EJ is magnified due to the fact that I failed to pull the trigger on the long signal prior to the short signal which I took.

Lesson: You are not chasing the market when the signal WRB of a FVB Pro is "large". Your trading style is based on trading what you see, where you want to see. Therefore, you must have faith in the "what you want to see". Just as you have faith in the "where you want to see it".

Hi hiddengap, I have a similar trading style, not exact the same but similar, and wanted to ask you for permission to share my charts here with you, if you want of course.

If you prefer to keep the thread only for your trades, i will understand

Advanced Price Action pattern:

Absolutely I'm alway open to learn something.

2/21/13

P/L = $72.96

Two trades taken. One win. One loss. Trading station snap shot reflects all trades taken.

Thoughts:

Despite the fact that the first trade was a loss and other opportunites had been missed, I did feel good taking this trade. In no way was I "revenge" trading on this one.

Affirmation:

" I totally understand that consistency is more important than being 'right.' Having the desire to be 'right' is for amateurs and making money consistently is what the real professionals do. I am striving to be a real pro every day by focusing on what is proven to really work -- a method that produces steady profits while protecting me if I am wrong."

Hi, as I promissed, my today photo

Two posible entries, by fake signal at certain level.

First one, at double zero. Not taken because of the Price falling to fast. It seemed to me it was slowing but not reversing.

Second one, Fake at S2, and European support. Long taken at 1.3170, Stop at 1.3155.
TP1 taken at +20.
TP2 in the rectangle zone.
Now at break even.

2/22/13

P/L = $88.80

Four trades taken. Two winners. Two losers.

Thoughts: Had some personal issues today and should not have traded at all. Was able to claw back into the green after starting out in the red. This is how real traders trade; you were right as much as you were wrong, but you went home with more money than you started.........

Affirmation:

" I totally understand that consistency is more important than being 'right.' Having the desire to be 'right' is for amateurs and making money consistently is what the real professionals do. I am striving to be a real pro every day by focusing on what is proven to really work -- a method that produces steady profits while protecting me if I am wrong."

2/25/13

P/L = $73.00

Two trades taken. Two winners. Trading station snapshot reflects all trades taken.

Thoughts:

Learn to be in the moment. Whatever happens will be.

Affirmation:

" As a trader I establish a straight mental and neurological path to continuous perfectly executed and managed trades. Each trade is an education towards perfecting the trading art, releasing tension and achieving youth and vigor".

2/26/13

P/L = $177.37

Five trades taken. Three winners. Two losers. Trading station snapshot reflects last trades taken.

Thoughts:

1. Took a roughly $40.00 loss in a GBP long off the daily chart. Although I did expect to take some heat on this trade I closed it out. I am opening another account for longer term position trades.

2. Loss taken on first (day) trade happens, but I should have used the contingency plan. Rules for the contingency plan do not occur often, but when they do I need to take advantage of them.

3. Felt good with entry Long 1. I easily recognized a Valid White Hammer Pattern. It met all the rules and was easy to see. The best patterns will meet the "eye test".

FVB Pro:

2/27/13

P/L = $124.02

Three trades taken. Two wins. One loss. Trading station snapshot reflects all trades taken.

Nice method. I like trading "fakes" or "failures" myself as well. The other trapped traders provide the orderflow that pushes our trades to profits. Looking forward to seeing more. I may have missed this, but could you share a bit about your trade management methods?