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Start of my journey towards profitable trading with PA

  • #441
  • Apr 11, 2013 7:46am Apr 11, 2013 7:46am
New trade: EURUSD

chart:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 92 KB


Edit: SL at BE...
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #442
  • Apr 11, 2013 10:47am Apr 11, 2013 10:47am
Quoting keroro0o0o
New trade: EURUSD chart: {image} Edit: SL at BE...
Was at the movies when these trades happened. First short position hit TP, then buy limit order hit. When I opened the chart on my phone, saw price reached the previous sell entry which was a supply zone, and got rejected. Closed the position manually. It was a good run for both trades. both 3+R trades.

Attached Image (click to enlarge)
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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #443
  • Apr 11, 2013 10:49am Apr 11, 2013 10:49am
Another closed trade: USDCHF

Sell limit triggered while I was away. When I looked at the chart, saw the bullish pinbar off demand zone. Manual closed for 1.5R.

Today is a good day

Chart:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 82 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #444
  • Apr 11, 2013 10:57am Apr 11, 2013 10:57am
Just noticed something interesting on my TE. I'm exactly back at BE, back to where I started last week on the Supply Demand short term trading.

And the return by trades showed an inverted H&S.

Hope this is a good sign.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 161 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #445
  • Apr 11, 2013 5:42pm Apr 11, 2013 5:42pm
Quoting keroro0o0o
Another closed trade: USDCHF Sell limit triggered while I was away. When I looked at the chart, saw the bullish pinbar off demand zone. Manual closed for 1.5R. Today is a good day Chart: {image}
Follow up:

A good call to manual close.

Never hesitate to take profit on a sign of reversal.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 75 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #446
  • Apr 11, 2013 5:45pm Apr 11, 2013 5:45pm
Quoting keroro0o0o
Was at the movies when these trades happened. First short position hit TP, then buy limit order hit. When I opened the chart on my phone, saw price reached the previous sell entry which was a supply zone, and got rejected. Closed the position manually. It was a good run for both trades. both 3+R trades. {image}
Follow up:

Good call to manual close.

Price came back to the newly formed demand zone, and respected it. Too bad didn't place a buy limit here. Oh well

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 76 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #447
  • Apr 11, 2013 5:45pm Apr 11, 2013 5:45pm
A missed trade: AUDUSD

Chart:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 83 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #448
  • Apr 12, 2013 5:35am Apr 12, 2013 5:35am
Quoting keroro0o0o

Just noticed something interesting on my TE. I'm exactly back at BE, back to where I started last week on the Supply Demand short term trading.

And the return by trades showed an inverted H&S.

Hope this is a good sign. {image}
Definite long on your account!
  • #449
  • Edited 8:55am Apr 12, 2013 8:23am | Edited 8:55am
Some pending orders:

USDCAD
Attached Image (click to enlarge)
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Edit: Not confident with this zone since price reacted near the zone. Took off the limit order, but will still watch here.

EURUSD
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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #450
  • Apr 12, 2013 8:31am Apr 12, 2013 8:31am
Quoting keroro0o0o
Some pending orders: USDCAD {image} EURUSD {image}
Added another sell limit order on EU.

Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 113 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #451
  • Apr 12, 2013 9:03am Apr 12, 2013 9:03am
More orders:

AUDUSD:
Attached Image (click to enlarge)
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GBPUSD:
Attached Image (click to enlarge)
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These limits orders were placed, but not necessarily all will be taken. I will look at which gets hit first, and may cancel other orders, depends on how price approaches.

Looks like overtrading though.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #452
  • Edited 11:41am Apr 12, 2013 11:22am | Edited 11:41am
Quoting keroro0o0o
More orders: AUDUSD: {image} GBPUSD: {image} These limits orders were placed, but not necessarily all will be taken. I will look at which gets hit first, and may cancel other orders, depends on how price approaches. Looks like overtrading though.
Update: AUDUSD
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All limit orders cancelled. It's late Friday night. Till next week
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #453
  • Apr 12, 2013 11:26am Apr 12, 2013 11:26am
Quoting keroro0o0o
Added another sell limit order on EU. Chart: {image}
Update:

Chart
Attached Image (click to enlarge)
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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #454
  • Apr 12, 2013 11:44pm Apr 12, 2013 11:44pm
Quoting keroro0o0o
Update: Chart {image}
Oh no, 2 reasons for the loss.

1. It's Friday.
2. It's late at night, went to sleep and didn't have screentime to monitor and manage trade.

Price went 20pips (2%) in my favor, and reversed. At this point, I would've been at least BE. hmm...

Attached Image (click to enlarge)
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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #455
  • Apr 12, 2013 11:59pm Apr 12, 2013 11:59pm
Hello keroro0o0o, following your journey.

It's all based in Demo accounts right?

BTW, don't always blame yourself. It's NOT ALWAYS the Traders Fault.

The problem is that some people want to make Price Action look like an exact science, and its not. I have seen a lot of times, PA Fail over and over again, even with a perfectly unmatched setup, and James16 and all the other guys know it very well.

It's impossible to predict what will happen in the market, and PA same as indicators are always lagging.

So, don't blame yourself.
The Black Swan: The Impact of the Highly Improbable
  • #456
  • Apr 13, 2013 12:03am Apr 13, 2013 12:03am
Quoting MapleLeaf
Hello keroro0o0o, following your journey. It's all based in Demo accounts right? BTW, don't always blame yourself. It's NOT ALWAYS the Traders Fault. The problem is that some people want to make Price Action look like an exact science, and its not. I have seen a lot of times, PA Fail over and over again, even with a perfectly unmatched setup, and James16 and all the other guys know it very well. It's impossible to predict what will happen in the market, and PA same as indicators are always lagging. So, don't blame yourself.
Hey ML (hope you don't mind if i call you ML ), thanks for dropping by.

Yes I agree, PA is not rocket science, and I believe you're a follower of J16. As Jim always said, never EVER turn a winner to a loser, right? that was what happened to the last EU trade, and worse it was Friday.

Anyway, the trade by itself was a good trade, just not well managed. Of course I'm not blaming myself, I'm grateful for these losses, as I'm learning through them.

Yap, everything is on demo. It's been almost 6 months now. 2 more profitable (or BE) month, then I'll go live, with a small capital.

Advocating to J16's rule here, 3 consequtive profitable months before go live, right?
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #457
  • Apr 14, 2013 11:00pm Apr 14, 2013 11:00pm
Lost trade: GBPJPY

Made a big mistake here, by using hotkey, and not noticing the wide SL needed for this trade. Hence left the SL at my max risk at 25 pips, and got hit.

Bad trade!

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 96 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #458
  • Apr 14, 2013 11:08pm Apr 14, 2013 11:08pm
New trade: AUDUSD

chart:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 84 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #459
  • Apr 15, 2013 12:16am Apr 15, 2013 12:16am
Quoting keroro0o0o
New trade: AUDUSD chart: {image}
Update: 5min QM, moved SL to below QM.

chart:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 97 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #460
  • Apr 15, 2013 12:40am Apr 15, 2013 12:40am
Quoting keroro0o0o
Lost trade: GBPJPY Made a big mistake here, by using hotkey, and not noticing the wide SL needed for this trade. Hence left the SL at my max risk at 25 pips, and got hit. Bad trade! {image}
Update:

As expected, the demand zone held.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 90 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
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