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  • #5,281
  • Jul 5, 2013 9:28am Jul 5, 2013 9:28am
Missed AJ short..... and my trade management was very poor today.
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  • #5,282
  • Jul 5, 2013 1:46pm Jul 5, 2013 1:46pm
Bought USD/CHF @ 1.2345 and closed 2/2 @ 1.2360 for +30 pips.
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  • #5,283
  • Jul 5, 2013 2:03pm Jul 5, 2013 2:03pm
Quoting Balhana
Bought USD/CHF @ 1.2345 and closed 2/2 @ 1.2360 for +30 pips. {image} {image}
Any reason why you didn't buy at the bottom of the bear trap at approx 1.23325?
  • #5,284
  • Jul 5, 2013 2:09pm Jul 5, 2013 2:09pm
Quoting 4Xfactor
{quote} Any reason why you didn't buy at the bottom of the bear trap at approx 1.23325?
Have I taken a trade like that before? How could you expect a bear trap before it is formed?
  • #5,285
  • Jul 5, 2013 2:27pm Jul 5, 2013 2:27pm
Quoting Balhana
{quote} Have I taken a trade like that before? How could you expect a bear trap before it is formed?

Just to the left on the first chart there is a huge demand candle, which coincides with the bottom of the bear trap. This is what I am referring to.
  • #5,286
  • Jul 5, 2013 7:02pm Jul 5, 2013 7:02pm
Quoting 4Xfactor
{quote} Just to the left on the first chart there is a huge demand candle, which coincides with the bottom of the bear trap. This is what I am referring to.
The bear trap was formed because of the huge demand candle right after NFP. Actually the trade was based on the huge candle, and the bear trap was a trigger (PA confirmation). I'm still tempted to take touch trades, but just try not to.
  • #5,287
  • Jul 6, 2013 10:10am Jul 6, 2013 10:10am
Awesome read and watch on the material from LJ. Stumbled upon his website the other day and watched some videos and webinars. In all honesty it stands out from the rest simply because of the fact LJ goes against all the other forex teachings(that are overall 95% nonsense and completely condition you the wrong way). It all comes down to having your own firm believe about the market based on analytical research / continuous observing of PA. Everyone in this business decides to not follow the herd out there when it comes to a "normal" office job, but (ironically enough) still decide to follow the herd in this business. In other words, pure laziness.

In particular I had great enjoyment watching your professional trader mindset webinar. It reflected alot of points from a post I made earlier on FF. I hope you do not mind me posting it here..


"There’s a well known phase in Forex learning curves that I for now will simply call “the guru” phase.
This phase will let the trader feel like a small fish in a wide ocean. Countless of books, guru’s and systems will show up to learn you “the way” of how to trade Forex. If you’re unfortunate you will most likekly throw several thousand of dollars into some system or method you hardly even understand yourself.

Sure, there are multiple elements that you can eventually implement into your own trading system, everyone does in some way . However, Its a different case when you fully use a predefined system created by someone else. Small chances you will become profitable on a consistent base. I know there’s a good chance that this statement will get a lot of criticism because surely there are people around that claim to be succesfull with pre-defined/bought systems. I do think this group however will be very small.

The reason for this? Believing. I believe that the correct amount of order in chaos, discipline & consistency in a trader can only be achieved when that trader is learning from previous experience on a system created by him/herself.

Ask yourself, how many times have you not read articles about the mental state of traders, and how many times did you actually take solid action on a consistent base right after? Reading or listening the same story a few times is different from believing , Most information received will simply fade in time unless you actually condition yourself into believing it. The same goes for predefined systems / bought systems. You are obtaining the information but will not believe in it because you did not condition yourself into believing in your system.
Even more so you don’t feel responsible for any red pips created on such systems. Not learning from mistakes and therefore not making your own solutions which obviously results in not conditioning yourself in believing these solutions.

In my opinion the very best way to learn Forex is to simply trade isolated as much a possible with keeping outside guru/system influences as limited as possible. Watch price, asks yourself why price interacts with “x” area and why it reacts in certain way. Come to conclusions yourself and try to limit implementing other people conclusions. Find and experience self constructed trading and management methods as much as possible. Find a synergy between them in which you believe , quite an achievement! You should be the one that creates selfmade trading and money management methods, to find them while stumbling on internet afterwards! Not the other way around!"
  • #5,288
  • Jul 8, 2013 11:26am Jul 8, 2013 11:26am
Balhana?

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too soon of entry below? wasnt at supply?

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DM if you have any questions
  • #5,289
  • Jul 8, 2013 8:49pm Jul 8, 2013 8:49pm
Quoting jkrick33
Balhana? {image} too soon of entry below? wasnt at supply? {image}
My view
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  • #5,290
  • Jul 9, 2013 4:31am Jul 9, 2013 4:31am
Sold EU @ 1.2882 and closed 2/3 @ 1.2869 for +26 pips.
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  • #5,291
  • Jul 9, 2013 6:20am Jul 9, 2013 6:20am
Sold UJ @ 101.233
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  • #5,292
  • Jul 9, 2013 6:56am Jul 9, 2013 6:56am
Quoting Balhana
Sold UJ @ 101.233 {image} {image}
Closed 2/3 for +30 pips.
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  • #5,293
  • Jul 9, 2013 7:26am Jul 9, 2013 7:26am
Quoting Balhana
Sold EU @ 1.2882 and closed 2/3 @ 1.2869 for +26 pips. {image}
Moved SL to 1.2873 (BE+9). The remainder of UJ got stopped out @ BE+1.
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  • #5,294
  • Jul 9, 2013 9:13am Jul 9, 2013 9:13am
Quoting Balhana
{quote} Moved SL to 1.2873 (BE+9). The remainder of UJ got stopped out @ BE+1. {image}
Closed the remainder @ 1.2835 for +49 pips. (+75 pips)
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  • #5,295
  • Jul 9, 2013 9:28am Jul 9, 2013 9:28am
Quoting Balhana
{quote} Closed the remainder @ 1.2835 for +49 pips. (+75 pips) {image}
Looks like I closed the EU short prematurely.

Sold NJ @ 79.60
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  • #5,296
  • Jul 9, 2013 9:47am Jul 9, 2013 9:47am
Thank you Balhana. You didnt take my initial B based on the highe rlow, and hadnt engulfed price below. I like to take the engulf then retests as well.


Quoting Balhana
{quote} My view {image} {image}
DM if you have any questions
  • #5,297
  • Jul 9, 2013 9:58am Jul 9, 2013 9:58am
Quoting Balhana
{quote} Looks like I closed the EU short prematurely. Sold NJ @ 79.60 {image}
Closed 2/3 @ 79.30 for +60 pips.
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  • #5,298
  • Jul 10, 2013 3:07am Jul 10, 2013 3:07am
Quoting Balhana
{quote} Closed 2/3 @ 79.30 for +60 pips. {image}
NZD/JPY: hit TP2 (79.17) for +43 pips. (+103 pips in total)
EUR/CHF: sold @ 1.24355 and closed 2/3 @ 1.2412 for +47 pips.
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  • #5,299
  • Edited 2:23pm Jul 10, 2013 7:54am | Edited 2:23pm
Quoting Balhana
{quote} NZD/JPY: hit TP2 (79.17) for +43 pips. (+103 pips in total) EUR/CHF: sold @ 1.24355 and closed 2/3 @ 1.2412 for +47 pips. {image} {image}
The remainder got stopped out @ BE. I'm on a business trip at the moment, and will not be able to trade for a long while.
  • #5,300
  • Jul 15, 2013 4:50am Jul 15, 2013 4:50am
Bought GA @ 1.6551 and closed 2/3 @ 1.6596 for +90 pips.
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