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  • #221
  • Feb 26, 2013 5:25pm Feb 26, 2013 5:25pm
New Pending 1D trade: EURAUD

Buy limit @ 1.2753
SL @ 1.2663
TP @ 1.2897

Reasons:
1. D+W HCR with 4H signatures confirming level as S
2. 365EMA confluence
3. TL acting as S

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.jpg Size: 233 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #222
  • Feb 27, 2013 4:02am Feb 27, 2013 4:02am
New 1H trade: EURJPY

Sell @ 119.81
SL @ 120.38
TP @ 119.08

Reason:
1. Speculative play with BRN 120.00 being the apex of the symmetrical triangle.

This is a little bit of a gamble trade.

I'll "hope" for the sharp move. (oh man, not a good thing to do)

Attached Image
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #223
  • Edited 5:36am Feb 27, 2013 5:17am | Edited 5:36am
Quoting keroro0o0o
New 1H trade: EURJPY

Sell @ 119.81
SL @ 120.38
TP @ 119.08

Reason:
1. Speculative play with BRN 120.00 being the apex of the symmetrical triangle.

This is a little bit of a gamble trade.

I'll "hope" for the sharp move. (oh man, not a good thing to do)

Attachment
A bad trade, with SL hit in less than 1 hour.

Now price formed an SFP out of the triangle, and closed back in it. Would've been a nice entry, but passed it because I don't want to be in a trade at the same pair right after taking a full loss.

Prior to taking the trade, i had this conversation within me between steady state (where I would normally think) vs anxious state (where I desperately want to be in the green for the month)

Steady state: There isn't any setup that I'm looking for, no trade here.
Anxious state: The triangle was perfect, and there's the BRN. With the recent massive BEOB, bears are STRONG!

Steady state: No confirmation for a short, wait for it.
Anxious state: A breakout of the triangle will be VERY quick!!

Steady state: I'm not at my computer, can't really see the TL of the triangle.
Anxious state: The eye is enough!

Steady state: Look to the left, this is a demand area.
Anxious state: The last daily candle as doji already consumed the demand!!


Steady state: .....
Anxious state: SHORT IT!!

Steady state: .........
Anxious state: SHORT IT!!!!!!!


BAM!! Anxious state took over, and entered an order through my phone (again), without a clear picture of where to put my SL, just an estimation based on a 4" chart.

Paid the price of trading recklessly because I wanted to be green in the month of February as i wouldn't be able to start live unless I'm profitable for 3 consequtive months.

Lesson learnt:
The steady state is always making the right decisions, as it's not chasing over unconfirmed/sub par trades
The anxious state is always taking quick decisions without considering worst scenario, and is willing to GAMBLE


So what should I do to overcome the anxious state with the steady state?

KEEP DEMO'ING UNTIL U CAN!


Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY.jpg Size: 186 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #224
  • Feb 27, 2013 5:49am Feb 27, 2013 5:49am
Quoting keroro0o0o
New Pending 1D trade: EURAUD

Buy limit @ 1.2753
SL @ 1.2663
TP @ 1.2897

Reasons:
1. D+W HCR with 4H signatures confirming level as S
2. 365EMA confluence
3. TL acting as S

Attachment
Price took off nicely without taking me on board.. Cancelled the order.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.jpg Size: 219 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #225
  • Feb 27, 2013 6:08am Feb 27, 2013 6:08am
New 1D/1H trade: EURUSD

Sell @ 1.3103
SL @ 1.3164
TP @ 1.3042

Reasons:
1. SFP with nice V shape
2. DCC + 4H signature + 1H signature at D + W LCS level + 365 EMA confluence
3. With the trend

This setup is valid for both 1D/1H setup that I'm looking for.

1D chart:
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-02-27_20-03.jpg Size: 219 KB


1H chart:
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.jpg Size: 208 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #226
  • Feb 27, 2013 6:55am Feb 27, 2013 6:55am
New 1D trade: AUDUSD

Buy @ 1.0192
SL @ 1.0144
TP @ 1.0258

Reasons:
1. 4H signature at D + W LCS level
2. FTB to a strong demand area with a compression/bull wedge pattern

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.jpg Size: 245 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #227
  • Feb 27, 2013 7:06am Feb 27, 2013 7:06am
Quoting keroro0o0o
New 1D trade: AUDUSD

Buy @ 1.0192
SL @ 1.0144
TP @ 1.0258

Reasons:
1. 4H signature at D + W LCS level
2. FTB to a strong demand area with a compression/bull wedge pattern

Attachment
Revised TP to below D LCS @ 1.0283

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.jpg Size: 216 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #228
  • Feb 27, 2013 7:40am Feb 27, 2013 7:40am
Quoting keroro0o0o
New 1D/1H trade: EURUSD

Sell @ 1.3103
SL @ 1.3164
TP @ 1.3042

Reasons:
1. SFP with nice V shape
2. DCC + 4H signature + 1H signature at D + W LCS level + 365 EMA confluence
3. With the trend

This setup is valid for both 1D/1H setup that I'm looking for.

1D chart:
Attachment

1H chart:
Attachment
Update on EURUSD trade:

Price hit FTA. Reduced risk to 0.5R.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.jpg Size: 204 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #229
  • Feb 27, 2013 5:21pm Feb 27, 2013 5:21pm
Quoting keroro0o0o
Update on EURUSD trade:

Price hit FTA. Reduced risk to 0.5R.

Attachment
Update on EURUSD trade:

SL hit for 0.5R loss.

Problems with the trade:
1. Price was trapped within a demand zone. Even though there were bearish PA/signatures on my LCS level, it was too risky for a short.
2. 365EMA was possibly acting as R, but 150EMA was possibly acting as S.
3. Last 1D closed as a Doji, with the low just ~20pips shy above of BRN1.3000. This indicates troubles for bears.

Been taking trades that I wasn't VERY confident with. Will stick to demo and train up my discipline before going live. It's really a good training.

Trading is really 80% about psychology, and 20% about the knowledge. I wouldn't say I knew exactly what was gonna happen, but at the very least, I would expect price to have a certain behaviour, but the main element that made me take the trade (at my current state) was the psychological element.

I'll have to train myself through demo until the knowledge element trumps my psychological element. Patience is key.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.jpg Size: 209 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #230
  • Feb 27, 2013 5:29pm Feb 27, 2013 5:29pm
Quoting keroro0o0o
Revised TP to below D LCS @ 1.0283

Attachment
Update on 1D AUDUSD trade:

Price hit FTA. Formed a bullish PB + DCC of S at D + W LCS level. Price retraced to the left eye of the PB, and rallied again.

Looking bullish. Reduced risk to 0.5R.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.jpg Size: 227 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #231
  • Feb 27, 2013 5:45pm Feb 27, 2013 5:45pm
Watchlist:

EURGBP

Price approaching to the broken D + W + M LCS level, with a possible 4H H&S forming.

Wait for a 4H signature/PA for a short entry.

1D chart:
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-02-27_20-03.jpg Size: 201 KB


4H chart:
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP.jpg Size: 194 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #232
  • Feb 28, 2013 12:12am Feb 28, 2013 12:12am
Quoting keroro0o0o
Update on 1D AUDUSD trade:

Price hit FTA. Formed a bullish PB + DCC of S at D + W LCS level. Price retraced to the left eye of the PB, and rallied again.

Looking bullish. Reduced risk to 0.5R.

Attachment
Update on 1D AUDUSD trade:

TP hit for a 1.5R profit.

Happy with this trade. Price may go up further, but will have a tough area to breakthrough. Will let price to lead the way, and for setups to present itself.

Attached Image
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #233
  • Feb 28, 2013 12:18am Feb 28, 2013 12:18am
Quoting keroro0o0o
New Pending 1D trade: NZDUSD

Sell limit @ 0.8295
SL @ 0.8358
TP @ 0.8208

Reasons:
1. PBT&CB W + M LCS
2. Broke out of bear wedge
3. Multibar lows previously adds more confluences with clean touches on W + M LCS which makes a valid RR entry

*if price reaches my TP before taking my order, will revise the trade accordingly.

Attachment
Update:

Pending Sell triggered. Let's see.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #234
  • Feb 28, 2013 8:14am Feb 28, 2013 8:14am
Quoting keroro0o0o
Update:

Pending Sell triggered. Let's see.
Update on 1D NZDUSD trade:

Revised my TP to 2 bar lows @ 0.8226, which was perfectly aligned with previous 3 bar highs.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD.jpg Size: 221 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #235
  • Feb 28, 2013 9:09am Feb 28, 2013 9:09am
New 1H trade: USDCAD

Sell @ 1.0267
SL @ 1.0292
TP @ 1.0242

Reasons:
1. SFP with nice V shape + PB
2. 4H massive MACD bearish divergence
3. ATR overshot

Small risk taken here.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 172 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #236
  • Feb 28, 2013 9:42am Feb 28, 2013 9:42am
Quoting keroro0o0o
New 1H trade: USDCAD

Sell @ 1.0267
SL @ 1.0292
TP @ 1.0242

Reasons:
1. SFP with nice V shape + PB
2. 4H massive MACD bearish divergence
3. ATR overshot

Small risk taken here.

Attachment
Ouch, stopped out in <1 hour. Bull's momentum too strong.

And another reason was good unemployment claims. Once again, did not notice this news and took a loss.

Attached Image (click to enlarge)
Click to Enlarge Name: 2013-02-27_20-03.jpg Size: 34 KB


Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 167 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #237
  • Feb 28, 2013 7:04pm Feb 28, 2013 7:04pm
Quoting keroro0o0o
Ouch, stopped out in <1 hour. Bull's momentum too strong.

And another reason was good unemployment claims. Once again, did not notice this news and took a loss.

Attachment

Attachment
Took another short attempt to short USDCAD after price printed a strong bearish PB + SFP combo.

This trade was taken when I opened my chart on my phone when i was on bed, saw this PB, and BAM, took the trade instantly.

I knew the US unemployment claims were good, and yet, I took the setup regardless of the fundamental.

Paid the price and took another loss.

Got nothing to say to myself. really kinda pissed off with myself.

Attached Image
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #238
  • Feb 28, 2013 9:26pm Feb 28, 2013 9:26pm
Quoting keroro0o0o
Update on 1D NZDUSD trade:

Revised my TP to 2 bar lows @ 0.8226, which was perfectly aligned with previous 3 bar highs.

Attachment
Update on 1D NZDUSD trade:

Price worked out nicely towards the FTA (near term TL).

Tightened SL to 10 pips above previous baerish candle.

TP remained conservative at 2 bar lows. If price breaksthrough, will look for another oppurtunity for a short.

Don't like to hang on trades for too long.

Attached Image
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #239
  • Edited Mar 1, 2013 8:29am Feb 28, 2013 9:57pm | Edited Mar 1, 2013 8:29am
[quote=keroro0o0o;6476317]Watchlist:

1H USDCHF

Price having a hard time breaking out of down TL + 365EMA + W/M HCR, but IMO, price is gaining momentum to breakout.

Will look for a strong breakout from 1H chart at 0.9332 level for a butt kiss/RR entry.

1D chart:
Attachment

1H chart
Attachment

Update on USDCHF:

Price broke out of my 0.9332 level, but i didn't catch the butt kiss because i was sleeping.

Now I will place an order at 0.9333 level for a RR long.

Buy limit @ 0.9334
SL @ 0.9312
TP @ 0.9368

Also a valid long entry based on 1D chart, but will assess that on weekend and add positions based on today's close.

1H chart:
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 42 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #240
  • Mar 1, 2013 8:32am Mar 1, 2013 8:32am
2 New 1H trades:

EURJPY

Buy @ 120.57
SL @ 120.17
TP @ 121.22

Reasons:
1. SFP + bullish PB
2. Nice level of R turned S
3. TL confluence

1H chart:
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY.jpg Size: 178 KB



USDCAD

Sell @ 1.0314
SL @ 1.0361
TP @ 1.0242

Reasons:
1. BEOB at swing high (also a 4H PB)
2. 1H + 4H signatures at H + M HCR level
3. Strong MACD bearish divergence (on both 1H and 4H)

1H chart:
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 180 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
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