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Start of my journey towards profitable trading with PA

  • #561
  • Edited May 24, 2013 1:32am May 23, 2013 11:00am | Edited May 24, 2013 1:32am
Quoting keroro0o0o
New trade: EURUSD short {image} *this trade is to test Armada Markets/Pepperstone's demo feed here, since I no longer wish to trade with Exness because of last night's crazy spread spike over 16pips.
Update: took a loss, and made a 2nd attempt short with small lot size & large stop

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Update: Stopped out at BE from reaction at demand zone.
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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #562
  • Edited 8:59pm May 23, 2013 11:16am | Edited 8:59pm
Few more open trades:

USDJPY
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Update: Stopped out.
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EURJPY
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Update Stopped out, similar case.
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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #563
  • May 23, 2013 9:57pm May 23, 2013 9:57pm
Once again, trading like machine gun instead of sniper. I guess I was too anxious about going live, and lost my discipline because of that.

Have to re-organize, and postpone the plan of going live again.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #564
  • May 23, 2013 10:35pm May 23, 2013 10:35pm
Just noticed the thread, apologize for not researching it. Forgive me if I am off base but my question is......why not go to 4hr charts? Your charting looks good, do it on a higher tf. Best of luck to you.



EDIT: Ok, read your first post again, goodluck on the 30m charts my friend.
  • #565
  • May 23, 2013 10:46pm May 23, 2013 10:46pm
Quoting calderone
Just noticed the thread, apologize for not researching it. Forgive me if I am off base but my question is......why not go to 4hr charts? Your charting looks good, do it on a higher tf. Best of luck to you.

Hi calderone, you don't need to apologise. Just happy that you dropped by.

Why not 4hr charts? hmm, perhaps the oppurtunity that present maybe far lesser, since I'm only interested in trading majors.


Also, I do look at higher timeframes when I take trades off 30mins charts. Anyhow, still finding the best style which suits my personality, and so far I'm finding 30mins charts worked fine, just have to control my emotions


Will demo it alittle bit more, and see how it goes. Have to hold myself back from going live for now.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #566
  • May 24, 2013 4:32am May 24, 2013 4:32am
A great opportunity missed.

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #567
  • May 24, 2013 7:20am May 24, 2013 7:20am
Quoting keroro0o0o
{quote} Hi calderone, you don't need to apologise. Just happy that you dropped by. Why not 4hr charts? hmm, perhaps the oppurtunity that present maybe far lesser, since I'm only interested in trading majors. Also, I do look at higher timeframes when I take trades off 30mins charts. Anyhow, still finding the best style which suits my personality, and so far I'm finding 30mins charts worked fine, just have to control my emotions Will demo it alittle bit more, and see how it goes. Have to hold myself back from going live for now.
I understand, some very good traders use the 30m charts to trade from. I found that my accuracy was much better on the higher tf's as the areas on the charts are much more pronounced. Yes, opportunities are not as frequent but my return can be greater. I'm not always in the market but when I am I'm usually in the money. Yes, I do have bad trades-not trying to sound egotistical. lol Keep up the good work, I like your charts, very clean.
  • #568
  • May 24, 2013 8:18am May 24, 2013 8:18am
Quoting calderone
{quote} I understand, some very good traders use the 30m charts to trade from. I found that my accuracy was much better on the higher tf's as the areas on the charts are much more pronounced. Yes, opportunities are not as frequent but my return can be greater. I'm not always in the market but when I am I'm usually in the money. Yes, I do have bad trades-not trying to sound egotistical. lol Keep up the good work, I like your charts, very clean.
Sounds good to me. I'll keep forward testing on the 30mins, and see what it brings. If I can't be consistently profitable, then perhaps I will move to higher TF.


Thanks for the advice though. Do come in with some charts when you have the time.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #569
  • May 24, 2013 8:20am May 24, 2013 8:20am
Took a short at EURUSD at demand zone after nice 1H breakout and close above SR. Got stopped out pretty quickly, possible because of the high impact news..

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #570
  • May 26, 2013 10:20am May 26, 2013 10:20am
Setups that I'm looking at:

USDCAD:
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GBPUSD
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USDJPY
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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #571
  • May 27, 2013 7:52am May 27, 2013 7:52am
Quoting keroro0o0o
Setups that I'm looking at: USDCAD:{image} GBPUSD{image} USDJPY{image}
Unfortunately, didn't get a fill on any of the orders. Price worked nicely for USDCAD & USDJPY so far.

Looking for a short in GBPUSD in a newly formed supply which was a reaction to previous supply zone. Also looking for a QM pattern to play out.

Too bad wasn't around when this smaller TF QM played out within the previous S where I would've look for bearish PA, but hoping for the 30min to form a QM now.

5mins:
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30mins:
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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #572
  • Edited 7:36pm May 27, 2013 9:04am | Edited 7:36pm
Took another trade Long manually:

AUDUSD

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Update 1: PRice is taking it's sweet time at the Demand. Hope this means buyers getting on board in a steady manner
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Update 2: Stopped out by a sudden spike.
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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #573
  • Edited 6:14pm May 27, 2013 6:03pm | Edited 6:14pm
New PO: EURJPY Sell

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Edit: Took off the PO. Will look for PA when price enters the zone for shorts. Level not clean enough for a blind TT.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #574
  • Edited May 28, 2013 1:17am May 27, 2013 10:24pm | Edited May 28, 2013 1:17am
Quoting keroro0o0o
New PO: EURJPY Sell {image} Edit: Took off the PO. Will look for PA when price enters the zone for shorts. Level not clean enough for a blind TT.
Price arrived into the zone of interest, so took a closer look into 5mins chart to look for bearish PA. Here's what I found.

30mins chart:
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5mins chart:
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Update 1: Price went higher, and made another 3 drives pattern on 5mins as price is being compressed to the top edge of the supply zone. Suffering some drawdown because of impatience to wait for engulf of demand on the 5mins. Well, higher risk higher rewards they say... Let's see how it goes.
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Update 2: Stopped out.
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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #575
  • Edited 8:20am May 28, 2013 1:26am | Edited 8:20am
2 new trades:

EURUSD short:
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Update: Stopped out for a small loss above new Supply zone.
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GBPUSD short:
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Update: Took half profits at QM, and remaining position stopped out at BE + 1.
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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #576
  • Edited 9:10am May 28, 2013 8:27am | Edited 9:10am
New trade: GBPUSD long

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Update: Stopped out. Didn't work as expected. Move on.
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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #577
  • May 28, 2013 9:04am May 28, 2013 9:04am
Some New trades:

EURJPY short
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USDCHF short
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Update: Big mistake on the USDCHF trade. Entered exactly at the news release. OUCH!!!!
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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #578
  • May 28, 2013 9:27am May 28, 2013 9:27am
Quoting keroro0o0o
Some New trades: EURJPY short{image} USDCHF short{image} Update: Big mistake on the USDCHF trade. Entered exactly at the news release. OUCH!!!!{image}{image}
USDCHF trade review:

Now that I look back at the charts, it's so obvious about what the big players did...
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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #579
  • Edited May 29, 2013 6:16am May 28, 2013 10:17am | Edited May 29, 2013 6:16am
Quoting keroro0o0o
Some New trades: EURJPY short{image} USDCHF short{image} Update: Big mistake on the USDCHF trade. Entered exactly at the news release. OUCH!!!!{image}{image}
Update on EURJPY:


1st position hit TP for 3R. 2nd position TP revised further down to source of move. May seek oppurtunity to add positions if setups present.
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Update 2: Price formed a nice QM level. Tightened SL to "head" of the QM.
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Update 3: 2nd position TP hit at 5R. I moved my TP to 131.000 this morning, but price did reach my previous TP. Anyway, all good.
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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #580
  • May 28, 2013 7:34pm May 28, 2013 7:34pm
Took another loss in USDCAD

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I seriously think I need to set some hard rules for myself here... Pulling the trigger like mad...

I'm wondering should i reduce the pairs that I watch, or set a limit for number of trades per day...
Knowing is not enough; we must apply. Willing is not enough; we must do.
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