Attachments: Still waiting for money!

Still waiting for money!

#1
First Post: Mar 25, 2013 11:56am Mar 25, 2013 11:56am

jc.
| Joined Oct 2010 | Status: Trader | 82 Posts

i'm trading for about three years or more and i'm not having success yet. i'm skipping from system to system and when the first loss appears i use to skip to another system. I'm not disciplined and i usually take trades driven by emotion and not by rationality.. i think i have all the features a trader musn't have. for all these problems i'm starting a journal to control myself and to be forced to keep a record of my trades hoping to not repeat same errors.

I've started studying james16chart thread and now i'd like to use a mix of the_wizard and supply and demand strategies.

of course all people are well accepted with their charts and their own analysis. it will be very helpfull for me.

P.S. english isn't my first spoken language so tell me if you find any problem understanding what i'm writing!

#2
Mar 25, 2013 1:27pm Mar 25, 2013 1:27pm

jc.
| Joined Oct 2010 | Status: Trader | 82 Posts

First analyses

Attached Image (click to enlarge)

Click to Enlarge

Name: EURCHF.png
Size: 25 KB

Attached Image (click to enlarge)

Click to Enlarge

Name: GBPCHF SUPPLY.png
Size: 34 KB

#3
Mar 25, 2013 1:34pm Mar 25, 2013 1:34pm

jc.
| Joined Oct 2010 | Status: Trader | 82 Posts

Attached Image (click to enlarge)

Click to Enlarge

Name: EURUSD.png
Size: 40 KB

#4
Mar 25, 2013 6:00pm Mar 25, 2013 6:00pm

jc.
| Joined Oct 2010 | Status: Trader | 82 Posts

Attached Image (click to enlarge)

Click to Enlarge

Name: usdchf.png
Size: 23 KB

#5
Mar 25, 2013 8:04pm Mar 25, 2013 8:04pm

ForexStrong
| Joined Feb 2011 | Status: Trader | 36 Posts

JC,

First and foremost I feel your pain 100%. I've been trading for 3 years myself and really just starting to see some success. Not that your asking for advice but I impelled to give it based off of what you wrote.

If you are serious about trading and want to make it work. You need to invest in a backtesting software like a Forextester or which ever you feel comfortable. Its a small investment into your future.

Here is what I'm getting at. All the great systems that are here on Forex Factory you can be tested most ideas off of old prices as far as 10 years back. You then begin to get a feel for the market and moves that occur. In the end you'll continue to jump from system until you make your own system.

Take it from a fellow system jumper. Use the systems you find here as inspiration and make them your own. Your success is inside of you, you just have to speed up the learning process.

#6
Mar 26, 2013 6:02am Mar 26, 2013 6:02am

jc.
| Joined Oct 2010 | Status: Trader | 82 Posts

Quoting ForexStrong

Disliked

JC,

First and foremost I feel your pain 100%. I've been trading for 3 years myself and really just starting to see some success. Not that your asking for advice but I impelled to give it based off of what you wrote.

If you are serious about trading and want to make it work. You need to invest in a backtesting software like a Forextester or which ever you feel comfortable. Its a small investment into your future.

Here is what I'm getting at. All the great systems that are here on Forex Factory you can be tested most ideas off of old prices...

Ignored

thanks ForexStrong!I really appreciate your words!

I've downloaded the FXtester demo yesterdardy just before your post and i was wondering if it was worth buying it because i like it very much! I think it will be my next investment !

#7
Mar 26, 2013 6:03am Mar 26, 2013 6:03am

jc.
| Joined Oct 2010 | Status: Trader | 82 Posts

usdcad scalp based on BEOB at Supply

Attached Image (click to enlarge)

Click to Enlarge

Name: scalp usdcad.png
Size: 26 KB

#8
Mar 26, 2013 6:24am Mar 26, 2013 6:24am

ForexStrong
| Joined Feb 2011 | Status: Trader | 36 Posts

JC

This one is for free. Watch for the break of this range in either direction. Bias is for retrace.

Attached Image (click to enlarge)

Click to Enlarge

Name: eurusd.gif
Size: 20 KB

#9
Mar 26, 2013 7:31am Mar 26, 2013 7:31am

jc.
| Joined Oct 2010 | Status: Trader | 82 Posts

Quoting ForexStrong

Disliked

JC

This one is for free. Watch for the break of this range in either direction. Bias is for retrace.

Ignored

thanks for sharing! i'm curious to see how it works out!

#10
Mar 26, 2013 7:32am Mar 26, 2013 7:32am

jc.
| Joined Oct 2010 | Status: Trader | 82 Posts

damn! i like how the compression worked out! unfortunately it missed my tp for a few pips and i've closed it with a small loss!

Attached Image (click to enlarge)

Click to Enlarge

Name: eurjpy compression.png
Size: 34 KB

#11
Mar 26, 2013 7:40am Mar 26, 2013 7:40am

ForexStrong
| Joined Feb 2011 | Status: Trader | 36 Posts

Ah the fun of trading EUR/JPY. If you can make money trading any JPY pair you are a better trader than I.

#12
Mar 31, 2013 6:30am Mar 31, 2013 6:30am

jc.
| Joined Oct 2010 | Status: Trader | 82 Posts

position I took this week. still in progress!

Attached Image (click to enlarge)

Click to Enlarge

Name: NZDUSD.png
Size: 30 KB

TP AT THE BASE OF THE WEDGE

Attached Image (click to enlarge)

Click to Enlarge

Name: gbpchf.png
Size: 42 KB

#13
Apr 3, 2013 2:29am Apr 3, 2013 2:29am

jc.
| Joined Oct 2010 | Status: Trader | 82 Posts

nzdusd stopped out.. FTA (first demand area) stopped price decline

Attached Image (click to enlarge)

Click to Enlarge

Name: nzdusd sl.png
Size: 27 KB

GBPCHF seems to go a little better

Attached Image (click to enlarge)

Click to Enlarge

Name: gbpchf meglio.png
Size: 25 KB

#14
Apr 3, 2013 2:43am Apr 3, 2013 2:43am

jc.
| Joined Oct 2010 | Status: Trader | 82 Posts

NEW TRADES!

USDCHF i like how the beob engulfed previous demand. sl above beob

Attached Image (click to enlarge)

Click to Enlarge

Name: USDCHF BEOB.png
Size: 41 KB

GBPCAD: took this SFP.. for these setups i use an atr based sl.. missed for a few pips at the moment but i think i'll close it anyway ... it doesn't seem to work

Attached Image (click to enlarge)

Click to Enlarge

Name: GBPCAD sfp.png
Size: 40 KB

NZDCAD: SFP at supply

Attached Image (click to enlarge)

Click to Enlarge

Name: nzdcad sfp.png
Size: 39 KB

GBPUSD: i was waiting for a sfp but i took this BUOB at demand

Attached Image (click to enlarge)

Click to Enlarge

Name: gbpusd buob.png
Size: 28 KB

#15
Apr 3, 2013 4:17am Apr 3, 2013 4:17am

jc.
| Joined Oct 2010 | Status: Trader | 82 Posts

USDCHF scalp: whipshaw engulfing

P.S. I like very much this puttern near S/D zones. I should look for them much more!

Attached Image (click to enlarge)

Click to Enlarge

Name: usdchf scalp.png
Size: 27 KB

#16
Apr 3, 2013 4:34am Apr 3, 2013 4:34am

jc.
| Joined Oct 2010 | Status: Trader | 82 Posts

USDCHF: nice h4 pb.. I'm going to add a short on the retest of the level indicated by the arrow on h1 chart

Attached Image (click to enlarge)

Click to Enlarge

Name: usdchf pb.png
Size: 43 KB

Attached Image (click to enlarge)

Click to Enlarge

Name: usdchf level.png
Size: 38 KB

the ideal would be if price comes back compressing to the level where i would re-enter

Attached Image (click to enlarge)

Click to Enlarge

Name: usdchf 5 min.png
Size: 32 KB

Attached Image (click to enlarge)

Click to Enlarge

Name: usdchf m1.png
Size: 32 KB

#17
Apr 3, 2013 7:52am Apr 3, 2013 7:52am

jc.
| Joined Oct 2010 | Status: Trader | 82 Posts

Quoting jc.

Disliked

NEW TRADES! USDCHF i like how the beob engulfed previous demand. sl above beob {image} GBPCAD: took this SFP.. for these setups i use an atr based sl.. missed for a few pips at the moment but i think i'll close it anyway ... it doesn't seem to work {image} NZDCAD: SFP at supply {image} GBPUSD: i was waiting for a sfp but i took this BUOB at demand {image}

Ignored

closed GBPCAD at BE.. looking for possible long if it breaks this supply

Attached Image (click to enlarge)

Click to Enlarge

Name: gbpcad be.png
Size: 25 KB

#18
Edited 5:48pm Apr 4, 2013 5:15pm | Edited 5:48pm

jc.
| Joined Oct 2010 | Status: Trader | 82 Posts

Quoting jc.

Disliked

NEW TRADES! USDCHF i like how the beob engulfed previous demand. sl above beob {image} GBPCAD: took this SFP.. for these setups i use an atr based sl.. missed for a few pips at the moment but i think i'll close it anyway ... it doesn't seem to work {image} NZDCAD: SFP at supply {image} GBPUSD: i was waiting for a sfp but i took this BUOB at demand {image}

Ignored

USDCHF --> i've anticipated my TP at first demand area (clearly visible on h4 TF)

reason i moved up my tp: i'm trying to fight one of my bad habits--> i use to think my trades will go too far and everytime price come back after hitting FTA it's really frustating for me. so I think it's better for me keeping realistic TP (also if not fantastic as those i usually set)

Attached Image (click to enlarge)

Click to Enlarge

Name: usdchf h1.png
Size: 33 KB

NZDCAD --> TP hit

Attached Image (click to enlarge)

Click to Enlarge

Name: NZDCAD.png
Size: 46 KB

GBPUSD--> stopped at BE : i usually dont' use BE but this trade was after a strong down move and i was not very comfortable taking a long

Attached Image (click to enlarge)

Click to Enlarge

Name: GBPUSD.png
Size: 41 KB

NZDCHF--> (sfp) this one bother me a little... guess why!

(like in USDCHF probably i would have moved my TP up to the first highlighted demand area)

Attached Image (click to enlarge)

Click to Enlarge

Name: NZDCHF.png
Size: 34 KB

#19
Apr 4, 2013 5:46pm Apr 4, 2013 5:46pm

jc.
| Joined Oct 2010 | Status: Trader | 82 Posts

first time i take a trade based on news (today "Unemployment Claims")

reason behind my trade :
1. studying news trading for A little I've learned that only unexpected news create volatility. and this was the case:

Attached Image (click to enlarge)

Click to Enlarge

Name: Unemployment Claims.png
Size: 2 KB

so as you can see forecasted value was positive (forecasted value<previous value) but the actual value was very negative for USD (actual>previous value). this lead me thinking bearish for usd but, initially, price moved opposite of my forecast. so i thought :

everyone is selling---> there isn't enough liquidity for institution to sell --> push price up (and for this purpose price previously hits first demand area) searching for liquidity to sell --> sell at first supply area using those buy orders that pushed price up to fill lots of sell orders

first trade i took was simply as price approached supply, second trade is due to SFP on 15 min (SFP is based on stop hunting that is another liquidity source used in this case to sell)

Attached Image (click to enlarge)