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Start of my journey towards profitable trading with PA

  • #281
  • Mar 13, 2013 8:37am Mar 13, 2013 8:37am
New Pending 1H trade: NZDUSD

Sell limit @ 0.8238
SL @ 0.8258
TP @ 0.82

Reasons:
1. Triple top pattern breakout (enough said )

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD.jpg Size: 198 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #282
  • Mar 13, 2013 5:54pm Mar 13, 2013 5:54pm
Quoting keroro0o0o
New Pending 1H trade: NZDUSD

Sell limit @ 0.8238
SL @ 0.8258
TP @ 0.82

Reasons:
1. Triple top pattern breakout (enough said )

Attachment
Update in 1H trade: NZDUSD

Stopped out for a full 1R loss. Price then reversed and hit my TP shortly.

Problems with the trade:
1. My SL was too aggressive and too tight. A more sensible area for the SL placement should be above upper TL/most recent swing high.

Well, aggressive trades yields higher returns and also higher losses as well. Anyhow, lesson learnt.

Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 48 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #283
  • Mar 13, 2013 6:08pm Mar 13, 2013 6:08pm
New 1D trade: NZDUSD

Sell @ 0.8200
SL @ 0.8278
TP @ 0.8108

Reasons:
1. PBT&CB strong D + W + M LCS level
2. Plenty of space below
3. Matching bar lows for possible S turned R

*Note: Today I woke up late, so analyzed and entered the trade using online charting tool. The chart is slightly different with my FxPro MT4 charts, I simply use my existing MT4 charts here in my journal to draw the LCS level @ 0.8200. Would not want to miss this PBT&CB of D + W + M LCS level, so decided to trade it.

Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 43 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #284
  • Mar 13, 2013 8:49pm Mar 13, 2013 8:49pm
Quoting keroro0o0o
New 1D trade: NZDUSD

Sell @ 0.8200
SL @ 0.8278
TP @ 0.8108

Reasons:
1. PBT&CB strong D + W + M LCS level
2. Plenty of space below
3. Matching bar lows for possible S turned R

*Note: Today I woke up late, so analyzed and entered the trade using online charting tool. The chart is slightly different with my FxPro MT4 charts, I simply use my existing MT4 charts here in my journal to draw the LCS level @ 0.8200. Would not want to miss this PBT&CB of D + W + M LCS level, so decided to trade it.

Attachment
Update on 1D trade: NZDUSD

Price broke through the FTA (previous 1D low) shortly. Reduced 0.5R risk by tightening SL to above previous bar lows.

Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 40 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #285
  • Mar 13, 2013 8:53pm Mar 13, 2013 8:53pm
New Pending 1H trade: AUDUSD

Buy limit @ 1.0333
SL @ 1.0293
TP @ 1.0373

Reasons:
1. Nice level with 3 clean touches as R
2. 50% fib ret confluence

Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 47 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #286
  • Mar 14, 2013 3:22am Mar 14, 2013 3:22am
Quoting keroro0o0o
New Pending 1H trade: AUDUSD

Buy limit @ 1.0333
SL @ 1.0293
TP @ 1.0373

Reasons:
1. Nice level with 3 clean touches as R
2. 50% fib ret confluence

Attachment
Update:

Missed my buy limit order by 3 pips, and price bounced over 20 pips.

Cancelled the order.

Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 39 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #287
  • Mar 14, 2013 3:27am Mar 14, 2013 3:27am
Quoting keroro0o0o
Update on 1D trade: NZDUSD

Price broke through the FTA (previous 1D low) shortly. Reduced 0.5R risk by tightening SL to above previous bar lows.

Attachment
Update on 1D trade: NZDUSD

Price formed a bullish PB off daily swing low (1H chart).

Decided to further reduce risk.

*kinda violated my rules of not letting lower TF mess with my daily trades, but...let's see if this makes sense.

Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 41 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #288
  • Mar 14, 2013 6:44am Mar 14, 2013 6:44am
Quoting keroro0o0o
Update on 1D trade: NZDUSD

Price formed a bullish PB off daily swing low (1H chart).

Decided to further reduce risk.

*kinda violated my rules of not letting lower TF mess with my daily trades, but...let's see if this makes sense.

Attachment
Update on 1D trade: NZDUSD

Stopped out at 0.1R. Let's watch if moving SL based on 1H TF was the right move.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD.jpg Size: 178 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #289
  • Mar 14, 2013 7:09am Mar 14, 2013 7:09am
Quoting keroro0o0o
Update:

Missed my buy limit order by 3 pips, and price bounced over 20 pips.

Cancelled the order.

Attachment
Follow up on missed AUDUSD 1H trade:

Price hit my TP. Bad luck that I missed the order..

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.jpg Size: 146 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #290
  • Mar 14, 2013 8:05am Mar 14, 2013 8:05am
New 1H trade: AUDUSD

Sell @ 1.0380
SL @ 1.0418
TP @ 1.0342

Reasons:
1. SFP with nice V shape
2. MACD bearish divergence

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.jpg Size: 166 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #291
  • Mar 14, 2013 4:34pm Mar 14, 2013 4:34pm
Quoting keroro0o0o
New 1H trade: AUDUSD

Sell @ 1.0380
SL @ 1.0418
TP @ 1.0342

Reasons:
1. SFP with nice V shape
2. MACD bearish divergence

Attachment
Update: Manually closed at BE because PBT&CA D + W LCS level on my 1D chart. Placed a pending buy order instead.

New Pending 1D trade: AUDUSD

Buy limit @ 1.0371
SL @ 1.0325
TP @ 1.0435

Reasons:
1. PBT&CA D + W LCS level
2. 150EMA confluence as S on 1D & 365EMA confluence as S on 4H (not shown)
3. 1H signature

1D chart:
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.jpg Size: 228 KB


1H chart:
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-03-06_23-22.jpg Size: 169 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #292
  • Mar 14, 2013 4:37pm Mar 14, 2013 4:37pm
Quoting keroro0o0o
Update on 1D trade: NZDUSD

Stopped out at 0.1R. Let's watch if moving SL based on 1H TF was the right move.

Attachment
Follow up:

Price would've hit my previous tightened SL. So, happy with the trade management.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD.jpg Size: 147 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #293
  • Mar 14, 2013 4:48pm Mar 14, 2013 4:48pm
New Pending 1H trade: USDCAD

Sell limit @ 1.0242
SL @ 1.0278
TP @ 1.0163

Reasons:
1. Nice clean level with 3 swing touches broken
2. 2x fib ret confluences
3. TL with level confluence

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 238 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #294
  • Mar 15, 2013 6:52am Mar 15, 2013 6:52am
AHHH S***!! Was trying another system on my sub account, then switched over to my main demo account, and accidently entered a trade which was supposed to be traded from the other account.

Now put my "TP" at BE price, hoping that this trade wouldn't reflect anything to my demo account performance..
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #295
  • Mar 15, 2013 7:16am Mar 15, 2013 7:16am
Quoting keroro0o0o
Update: Manually closed at BE because PBT&CA D + W LCS level on my 1D chart. Placed a pending buy order instead.

New Pending 1D trade: AUDUSD

Buy limit @ 1.0371
SL @ 1.0325
TP @ 1.0435

Reasons:
1. PBT&CA D + W LCS level
2. 150EMA confluence as S on 1D & 365EMA confluence as S on 4H (not shown)
3. 1H signature

1D chart:
Attachment

1H chart:
Attachment
Update on 1D trade: AUDUSD

Am currently in the trade. Price had been consolidating in a 20pip RM. Don't feel comfortable staying at full 1R SL since it's Friday.

Decided to tighten SL to 10 pips below RM bottom. Currently risking 0.5R.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.jpg Size: 195 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #296
  • Mar 15, 2013 7:17am Mar 15, 2013 7:17am
Quoting keroro0o0o
AHHH S***!! Was trying another system on my sub account, then switched over to my main demo account, and accidently entered a trade which was supposed to be traded from the other account.

Now put my "TP" at BE price, hoping that this trade wouldn't reflect anything to my demo account performance..
Phew.."TP" hit, so this trade will not affect the overall performance of my main demo account (up or down).
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #297
  • Mar 15, 2013 8:11am Mar 15, 2013 8:11am
New Pending 1H trade: USDJPY

Sell Limit @ 95.66
SL @ 95.98
TP @ 95.06

Reasons:
1. H&S breakout
2. Nice level with 5 touches + 38.2 fib ret from most recent downmove

*If the low of the thrust bar is broken, I'll cancel the sell limit.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.jpg Size: 183 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #298
  • Mar 15, 2013 8:56am Mar 15, 2013 8:56am
Quoting keroro0o0o
New Pending 1H trade: USDJPY

Sell Limit @ 95.66
SL @ 95.98
TP @ 95.06

Reasons:
1. H&S breakout
2. Nice level with 5 touches + 38.2 fib ret from most recent downmove

*If the low of the thrust bar is broken, I'll cancel the sell limit.

Attachment
Missed the bus again.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.jpg Size: 154 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #299
  • Mar 15, 2013 9:04am Mar 15, 2013 9:04am
Quoting keroro0o0o
Update on 1D trade: AUDUSD

Am currently in the trade. Price had been consolidating in a 20pip RM. Don't feel comfortable staying at full 1R SL since it's Friday.

Decided to tighten SL to 10 pips below RM bottom. Currently risking 0.5R.

Attachment
Update on 1D trade: AUDUSD

Price hit FTA. SL moved to BE because it's Friday. Want to have a good night sleep

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.jpg Size: 212 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #300
  • Edited 7:05pm Mar 17, 2013 3:30pm | Edited 7:05pm
Quoting keroro0o0o
Update on 1D trade: AUDUSD

Price hit FTA. SL moved to BE because it's Friday. Want to have a good night sleep

Attachment
Update on 1D trade: AUDUSD

Big shock in the morning, stopped out by a crazy gap for a 0.5R loss (even though my SL was at BE).

Not such a great idea to hold positions over the weekend I guess?

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.jpg Size: 209 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
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