Awww...Missed a sweet spot on the AUDUSD. 
Knowing is not enough; we must apply. Willing is not enough; we must do.
Start of my journey towards profitable trading with PA
- #581
- May 29, 2013 6:24am May 29, 2013 6:24am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
- #582
- Edited May 30, 2013 7:52am May 29, 2013 10:48am | Edited May 30, 2013 7:52am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New PO's: GBPUSD long
Took off the Long PO's and looking for a quick trade towards D with a PO sell now.
Update 1: Triggered. Let's see how it goes.
Update 2: Stopped out. All good since it's a hedging position to my USDJPY short.
Took off the Long PO's and looking for a quick trade towards D with a PO sell now.
Update 1: Triggered. Let's see how it goes.
Update 2: Stopped out. All good since it's a hedging position to my USDJPY short.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #583
- Edited 8:06am May 30, 2013 6:42am | Edited 8:06am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New PO: USDJPY short
Update 1: Add a 2nd position on the 5mins chart.
Update 1: Add a 2nd position on the 5mins chart.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #584
- Edited 9:18am May 30, 2013 8:50am | Edited 9:18am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New PO: USDJPY short {image} Update 1: Add a 2nd position on the 5mins chart.{image}
USDX chart:
Update: All out.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #585
- Edited 9:53am May 31, 2013 9:22am | Edited 9:53am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New trade (scalp): AUDJPY short
Update: Stopped out for a small loss.
Update: Stopped out for a small loss.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #587
- Jun 1, 2013 11:49am Jun 1, 2013 11:49am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Nice thread you got here mate, keep up the good work
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #589
- Jun 2, 2013 4:34am Jun 2, 2013 4:34am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
{quote} Hi mate interested in this statement - if it was the big money loading up then isnt that then demand by definition (buying) regardless of the reason why..?
In a way, yes. But if you look deeper, they loaded it up with all those wicks, which means the buy order that left there maybe be no more, since the wicks showed demand consumption. At least it looked that way to me. Also, what's more important to me, isn't how great the zones were in the past, it's how price approaches the zones. The zones are the past, and PA is the present, and we traders look at both to speculate the future of price. So imo, we NEED to take into consideration the information we get from the PAST, as well as the PRESENT for us to decide whether to take the trade or not.
Hope it makes sense.
Here's a little screenshot of the zone you mentioned, and my thoughts:
Not enough space to put in too many annotations, but do also notice the 3 drives pattern into the upper strong supply zone. We don't want to go long after seeing that don't me?
Also, check my first post. I added a simple rule to stop myself from overtrading, so...no more USDCHF for me.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #590
- Jun 2, 2013 6:15pm Jun 2, 2013 6:15pm
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New PO: AUDJPY Sell
*2x fib ret confluences not shown on chat
*2x fib ret confluences not shown on chat
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #591
- Edited 9:42am Jun 3, 2013 9:14am | Edited 9:42am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New trade: USDJPY long
1st position stopped out by the news spike, 2nd position survived.
Update: Stopped out.
1st position stopped out by the news spike
, 2nd position survived. Update: Stopped out.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #592
- Jun 3, 2013 9:45am Jun 3, 2013 9:45am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Missed this nice trade on AJ, when I was too focused on UJ.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #593
- Edited Jun 4, 2013 1:19am Jun 3, 2013 10:35am | Edited Jun 4, 2013 1:19am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New PO: USDJPY long
Looking for a 2nd test. Missed the first touch..
Update: Missed a perfect trade
Update 2: TP hit, but without me.. Perfect trade missed indeed...
Looking for a 2nd test. Missed the first touch..
Update: Missed a perfect trade
Update 2: TP hit, but without me.. Perfect trade missed indeed...
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #594
- Edited Jun 4, 2013 10:48am Jun 3, 2013 6:13pm | Edited Jun 4, 2013 10:48am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New PO: AUDJPY Sell {image} *2x fib ret confluences not shown on chat
Update: Added position at the same entry price which was a new supply zone + QM level.
Update 2: SL at BE. Price retested my entry price many times, and the upper wicks may mean supply zonsumption. Wouldn't want to take any loss at this point.
Update 3: 3rd position hit TP. (my first profitable live trade.
)
Update 4: 1st position missed TP by 1 pip. Didn't want to take the chances..so manually closed for few pips less.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #595
- Jun 4, 2013 8:31am Jun 4, 2013 8:31am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New PO: GBPUSD long
*screenshot from demo account which is my charting tool. TP not finalized.
*screenshot from demo account which is my charting tool. TP not finalized.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #596
- Edited Jun 5, 2013 5:39am Jun 4, 2013 5:32pm | Edited Jun 5, 2013 5:39am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
{quote} PO sell triggered. Like the PA and the entry. Let's see how it goes. {image} Update: Added position at the same entry price which was a new supply zone + QM level. {image} Update 2: SL at BE. Price retested my entry price many times, and the upper wicks may mean supply zonsumption. Wouldn't want to take any loss at this point. {image} Update 3: 3rd position hit TP. (my first profitable live trade.
...and we'll have AUD GDP q/q coming out in 3 hours' time...Oh well, gotta always be prepared for situations like this.. SL at BE, may revise TP lower, but will see what kinda PA we get after the news.
Update: SL tightened to above swap zone. TP revised to lower 4H/1D SR flip. Will manage the trade actively.
Update 2: Added position at the QM level (obvious on 15mins). Price brokethrough it quick quickly, but we'll see what happens.
Update 3: last position hit TP, today's position missed TP by 2 pips. Manual closed after price bounced higher. I'm still bearish, but...yeah...closed it because of fear.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #597
- Edited Jun 5, 2013 3:45am Jun 4, 2013 5:42pm | Edited Jun 5, 2013 3:45am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
New PO: GBPUSD long {image} *screenshot from demo account which is my charting tool. TP not finalized.
Took off the PO in GBPUSD. Placed a new PO sell in AUDUSD.
Update: Was looking for a quick move from the high impact AUD news. Didn't get what I wanted. USDX at supply zone, which signals further weakness in USD. Decided to take off my AUDUSD sell PO.
Update 2: Price worked as anticipated.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #598
- Jun 5, 2013 1:19am Jun 5, 2013 1:19am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Notes to myself: Always keep emotions at bay, and if feeling any psychological surge, don't trade. 
It's quite a good start of my live trading journey, where I made a few nice trades, and good judgement. Trying to find a good balance of "fear" and "greed" when in a trade. Obviously, the last trade that I manually closed at 15 pips higher was obviously because of "fear". Of course price went to hit my TP a short while afterwards.
Anyhow, these emotions after a few winner trades showed that I'm a complete beginner in live trading. With time & preserverence, I'm confident I'll reach the level of a good trader, and able to treat each trades with objectivity & discretion.
It's quite a good start of my live trading journey, where I made a few nice trades, and good judgement. Trying to find a good balance of "fear" and "greed" when in a trade. Obviously, the last trade that I manually closed at 15 pips higher was obviously because of "fear". Of course price went to hit my TP a short while afterwards.
Anyhow, these emotions after a few winner trades showed that I'm a complete beginner in live trading. With time & preserverence, I'm confident I'll reach the level of a good trader, and able to treat each trades with objectivity & discretion.
Knowing is not enough; we must apply. Willing is not enough; we must do.
- #600
- Jun 5, 2013 3:31am Jun 5, 2013 3:31am
- Joined Nov 2012 | Status: Be consistent, Be persistent. | 1,847 Posts
Great start, well done!!
Knowing is not enough; we must apply. Willing is not enough; we must do.