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LJ Forex Group

FTB setup that worked out perfectly overnight:
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Two PA trades yesterday:

1. GBPUSD (H4, H1, M1, M5, M1 charts!)
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2. EURGBP - a losing trade.

H1, M5 , M5 charts
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We got a deeper retracement and the PA setup to get short again, but it missed my order with the moving playing out and then some!

H1, M15, M1 charts
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Couple of other missed opportunities as examples setups:

1. EURUSD (H1, M5, M1)
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2. GBPUSD (H1, M5, M5)
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Mark, was watch'n cable for a sell at the 16550-ish, but the strong momentum approach put me off, at the moment looks like the trade is working just fine, would you've taken this setup.

Ps. happy birthday tomorrow, wish you many many green pips
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Pipcrawler
  • #5,788
  • Quote
  • Edited 4:39pm Feb 12, 2014 11:18am | Edited 4:39pm
Quoting xmzhang
Mark, was watch'n cable for a sell at the 16550-ish, but the strong momentum approach put me off, at the moment looks like the trade is working just fine, would you've taken this setup. Ps. happy birthday tomorrow, wish you many many green pips {image}
No I wouldn't have, I leave 'impulsive' moves into zones/levels alone for FTB style trades.

You might get the odd one that reverses hard back down but for the most part they work a lot less than they do (I know this from extensive research of course) whereas non-impulsive ones work a lot more than they do. The expectancies are very different.

I prefer ones like this NZDJPY.

Thanks for the birthday message
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Mark, I was wondering if you planned to post any more of your old (not current) strategy webinars on your YouTube channel? I got a lot out of them and would be interested in watching more.

Huk
Quoting Hukkleberry
Mark, I was wondering if you planned to post any more of your old (not current) strategy webinars on your YouTube channel? I got a lot out of them and would be interested in watching more. Huk
I will have to take a look, I don't think I have any more recorded one's but will look in my archives later and if so will upload them.
Quoting DaddyBear
This is a PPA concept. IMO PPA is a low-end trading method.
Because......
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daddybearforex. com
Couple DRT's from last Thursday/Friday when I wasn't around:

1. EURPLN
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2. USDPLN
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PA trade on GBPUSD today with the daily FB off the former weekly high giving a daily momentum bias with an obvious target.

Weekly and Daily charts showing the daily bias and target area:
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H1, M15 and M5 TF charts...entry based on M5 BO using the M15, H1 PA for circa 9R.
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Quoting lovejoy80
{quote} I will have to take a look, I don't think I have any more recorded one's but will look in my archives later and if so will upload them.

Thank you.

Also, I'm curious. Even though you're an experienced trader, is there anything you still struggle with? What are you trying to do better? Feel free to ignore the question!

Huk
At the low end of acceptable value but got the expected typical quick reaction (9min trade) for +0.8R on this GBPUSD M15 FTB trade.

Had to cover the new supply formed upon the retest to former demand low for the entry as shown on the M1 chart.
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Quoting Hukkleberry
{quote} Thank you. Also, I'm curious. Even though you're an experienced trader, is there anything you still struggle with? What are you trying to do better? Feel free to ignore the question! Huk
Yeah course, no trader is perfect and trading is a never ending journey of learning and improving.

My main weakness is ability to run trades for long periods, for example the GU trade posted above, in theory I should have ran all of it to the daily target instead of taking 25% off at the H1 FLS.

But I think that there is only so far you can go with improving weaknesses, once you've improved them as much as you can it's better to focus on a style that works to your strengths whilst minimising your weaknesses. So for me that comes with a) focussing on momentum trades and b) picking very precise entries and stops through accurate price reading.
  • #5,799
  • Quote
  • Feb 18, 2014 10:02am Feb 18, 2014 10:02am
Quoting lovejoy80
{quote} Yeah course, no trader is perfect and trading is a never ending journey of learning and improving. My main weakness is ability to run trades for long periods, for example the GU trade posted above, in theory I should have ran all of it to the daily target instead of taking 25% off at the H1 FLS. But I think that there is only so far you can go with improving weaknesses, once you've improved them as much as you can it's better to focus on a style that works to your strengths whilst minimising your weaknesses. So for me that comes with a)...
Thanks for the insight.

Huk
Mark how do you like this DRT set up from yesterday? Could you please go over my analysis and tell me if it is correct or what would yo do differently ?

Thank you very much
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