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  • #821
  • Aug 26, 2013 10:14pm Aug 26, 2013 10:14pm
Quoting mmaker
{quote} When you say "it" was a reaction from H4 supply, what was the "it"? The long setup? The reaction to H4 supply happened AFTER you took the long trade so how should that affect your decision for entry? I don't understand where was the careless part. You mean careless as in taking the long trade, careless as in not taking profit, or careless to leave the stop loss in place?
The move down itself was from the H4 supply. I tried to stop the reaction from H4 supply, with an m30 demand, which obviously had the weaker hand.

The mistake was, to not notice the H4 supply, and tried to go long with an m30 demand. I was looking at m30/H1 chart, and I thought price hadn't reached "true supply", and I anticipated the move up before the move down. It didn't happen as anticipated.


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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #822
  • Aug 26, 2013 10:39pm Aug 26, 2013 10:39pm
Quoting mmaker
Ok, so it was a wrong choice of words, I got confused. The "reaction" (in future) to that H4 supply hasn't happened yet. You were fighting the flow (at the moment) from the H4 supply.
I think I didn't make it clear enough. Here's a chart to illustrate what I meant:

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #823
  • Edited 7:27am Aug 27, 2013 3:35am | Edited 7:27am
Quoting keroro0o0o
{quote} UPDATE: First TP banked at "QM'ish" level. (not a valid one as no higher high, but still may give trouble) {image}
UPDATE: 2nd/final TP hit.

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #824
  • Edited 10:37am Aug 27, 2013 8:31am | Edited 10:37am
Open trade: GBPUSD short

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UPDATE: Stopped out. Was a quick one. The H1 pinbar attracted too many buyers it seems. Got complacent coz of a few winners, and started taking subpar levels.

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #825
  • Aug 27, 2013 10:48am Aug 27, 2013 10:48am
New PO: USDJPY long

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #826
  • Aug 27, 2013 7:26pm Aug 27, 2013 7:26pm
Quoting keroro0o0o
New PO: USDJPY long {image}
UPDATE: Stopped out. Maybe SL to tight...spiked out by a stop hunt? Will see.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #827
  • Aug 27, 2013 10:45pm Aug 27, 2013 10:45pm
Quoting keroro0o0o
{quote} UPDATE: Stopped out. Maybe SL to tight...spiked out by a stop hunt? Will see.
Open trade: USDJPY long

Re-entered the long at m5 QM level. The stop out earlier was a FO in my eyes. Let's see.

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #828
  • Edited 5:18am Aug 28, 2013 12:34am | Edited 5:18am
Quoting keroro0o0o
{quote} Open trade: USDJPY long Re-entered the long at m5 QM level. The stop out earlier was a FO in my eyes. Let's see. {image} {image}
UPDATE: First TP banked.

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #829
  • Aug 28, 2013 8:17am Aug 28, 2013 8:17am
Quoting keroro0o0o
{quote} UPDATE: GBPUSD lower PO triggered, USDJPY triggered. AUDUSD missed, PO taken off. GBPUSD {image} USDJPY {image}
UPDATE: Stopped out. Moved TP lower, "hoping" for more bearishness from BOE. didn't happen. No complaints.

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #830
  • Aug 28, 2013 8:41am Aug 28, 2013 8:41am
Quoting keroro0o0o
{quote} UPDATE: First TP banked. {image} {image}
UPDATE: TP 2 hit. New PO placed at FTR/ignored demand, with good confluence. Will leave the last position on the long to run.

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #831
  • Aug 28, 2013 9:37am Aug 28, 2013 9:37am
Quoting keroro0o0o
{quote} UPDATE: TP 2 hit. New PO placed at FTR/ignored demand, with good confluence. Will leave the last position on the long to run. {image}
New PO: AUDJPY Short


Took off the USDJPY PO short, as AUDJPY had a better level. Don't want to be overexposed to Yen.

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #832
  • Aug 28, 2013 9:10pm Aug 28, 2013 9:10pm
Quoting keroro0o0o
{quote} New PO: AUDJPY Short Took off the USDJPY PO short, as AUDJPY had a better level. Don't want to be overexposed to Yen. {image}
UPDATE: Stopped out. It seemed USDJPY short 97.90 was the right choice, which was pip perfect. NEXT.

*Charts to follow when i'm home.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #833
  • Aug 29, 2013 1:39am Aug 29, 2013 1:39am
Missed trade: AUDUSD short

PO placed at 0.89765 (on my broker feed, which is different with the chart from tradingview.com), went thru the trouble to put the 5th decimal number, coz wanted a perfect entry, and ended up missing the whole move. simply stupid.

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #834
  • Aug 29, 2013 7:19am Aug 29, 2013 7:19am
Quoting keroro0o0o
{quote} New PO: AUDJPY Short Took off the USDJPY PO short, as AUDJPY had a better level. Don't want to be overexposed to Yen. {image}
UPDATE: Final TP hit. The PO short would've worked nicely. Too bad I picked AUDJPY instead of this USDJPY short. Bummer. NEXT!

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #835
  • Edited 6:15pm Aug 29, 2013 7:23am | Edited 6:15pm
Quoting keroro0o0o
Missed trade: AUDUSD short PO placed at 0.89765 (on my broker feed, which is different with the chart from tradingview.com), went thru the trouble to put the 5th decimal number, coz wanted a perfect entry, and ended up missing the whole move. simply stupid. {image} {image}
Seriously stupid mistake for wanting a perfect price. LOL.

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #836
  • Sep 1, 2013 2:00am Sep 1, 2013 2:00am
A screenshot of my trading results. Will try and post this every end of week/month (whenever I feel comfortable doing so).

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Relaxing weekend, reviewing my trades for the past 2 months, and had PLENTY, PLENTY of revelations!

I've been taking so many subpar levels (C or below setups), and almost all of them ended up a loss. Reviewed my winner trades, and figured they would've done better if I left a runner which I've just started doing this week, by using 3 positions, with the 3rd position being "the runner".

To anybody who's serious about trading, journaling is extremely crucial and important, and it's a MUST!! I have 2 online journals, one in FF, one in RTM, and i have 1 personal journal using evernote, which is an awesome tool to organize the trade logs.

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I feel alot more organized now, and I'm so ready for the new month. Looking forward to Monday. Will be trading with caution because of the issue with Syria.

Capital preservation will always be my first priority.

Best trading to all!

Chao
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #837
  • Sep 1, 2013 6:35am Sep 1, 2013 6:35am
Quoting mmaker
{quote} Not sure if this graph makes sense to you, but I would also look at your account through pips vs return. Basically you took many many many good trades (yellow dots) and scored in pips. But your actual return (blue dots) are not catching up. In other words you are not making the best use of your pips gained. Ignore if this doesn't make any sense. Good luck. {image}
Hey bud,

Well there was the sharp drop caused by the mistake of using x10 lot size which distorted the whole distribution, else we would've seen both dots correlate much better.

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #838
  • Sep 1, 2013 8:51am Sep 1, 2013 8:51am
Quoting mmaker
{quote} Do you think that restricting your leverage to 100:1 would prevent that kind of mistakes in future accounts? 500:1 seems prone to reckless betting as well as unintended mistakes.
Well, even with with the x10 lot size, it was still using a small leverage, which was less than 1:100 of my account, because the intended risk was 0.4%, and 10x made it a 4% risk, which would've been what some traders normally risk.. But Your suggestion makes sense. I'll reduce the max leverage to 1:50 avoid this careless mistake (x100 lot size would be impossible )

Thanks for your input my friend.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #839
  • Sep 1, 2013 9:08pm Sep 1, 2013 9:08pm
Open trade: EURJPY short

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #840
  • Sep 1, 2013 10:18pm Sep 1, 2013 10:18pm
Quoting keroro0o0o
Open trade: EURJPY short {image}
UPDATE: Stopped out.

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Knowing is not enough; we must apply. Willing is not enough; we must do.
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