ChaosBun Journal

Writing a Journal to record my findings..

Today is 8 April 2014, if time could goes back, I would wish I never touch Forex, as a person who lost in the past, and at present. I would seek to self improve and continue fight till the last breathe, and change my bias to the way price move.

EUR/USD Position



The box shows the general trend of EUR/USD, in order for EUR/USD to continue uptrend, it need to break the box. Which will be a challenge.
I would like to add a short here, with my SL 15 pips above the box high.

I would use $500 USD to play a 1.0 lot with leverage 1:500


=======

GBP/USD Position

The uptrend is too strong, strong till I believe it won't last.

Today movement is 170 pips. I was actually afraid to long, because I think it reach a certain "high" or resistance, but my core values of system ask me to long, I left it out and regret now.

Now I tweaking my system, slightly, to make a new system which can overcome my weaknesses.

H4 Chart


Daily chart tell me that it is a good time to short GU, testing a breakout will be a test of 1.58




NZD/USD Chart - A Commodity Short



The high is not far, yet I want to get a 60 pips profit out of this. Time will reveal if NZD will break a new high or not.


USD-JPY Chart - Is the yen rally over or its just a position sizing before a bigger rally.




USD/CHF Chart - Going for the retracement, trading on a non break out.






Fear,bias and greed kills a trader. I seems to possess much of this, I need to fine tune to make myself a better trader.
In life, there is a lot of regrets, but regrets won't give me a time portal to go back to correct my mistake.

Only thing I could do is to continue improve myself.

hi chaos
good to see you posting. you are just using HA candles and MAs to trade, right?
and define support and resistance as previous high and low?
any other filters for trading?
thanks
bsh

Hi blueseahorse, thanks for looking at my journal, I am using HA and MA.

I also play break out, I still think the price is within range and a retracement after heavy dollar selling is coming soon, not just hoping,
but placing my SL slightly at a spot at breakout spot + 15-20 pips is consider quite a good deal.

Filter for trading, in my finding so far, price tend to move towards "heavy support/resistance", when we place a trade,
the main thing is to look at price action not just anticipate a support/resistance will be strong enough to turn the trend.

That is why most of the time retail trader like us lose 95% of the time.

I zoom out to see the "greater trend" in this journal, to place my trade and wait for it to ripe, hopefully not rip

====== TO myself ============

I think that the market does follow trend, and to find a trend, what I need to do is using the assist of Moving Averages.
The other thing is that a support or resistance draw the price towards them, especially a heavy one.

Never ever short a rally and long a falling knife, it is so easy to say now but so hard to do it in reality when one see
the price is at the "high" or "low" and anticipate it will actually reverse.

The only way to make money in market is to ride the trend, follow the flow and not cut profit short and drag on losing positions.

Hopefully 1 day I will be someone worthy in the market.

======

I am not happy when my trade which is a winner become a bigger winner while I cut it short because of fear.
This is something I need to overcome.

======

The other thing is to think like a retail trader, go against the trend and trade on whole number and previous support/resistance without watching price action.
This is the sin of Ignorance. Hopefully I can overcome this too.

======

thank you for the reply. there is something i still do not understand
you mentioned about "heavy support/resistance", how do you define this? are you using volume indicators?
and define trend by MA crossing over in HTF?

Principle of Attraction


Price are being drawn into a previous support / resistance . The way of joining a trend is to take a position towards the next heavy support / resistance .

Finding of the previous day

- Did a EUR/CHF short yesterday, but close it as non activity, today it drop 40 pips.

Seems like my EMA play does work, and the breakout strategy.

Another winning trade was NZD/USD, whereby the breakout of 8700 was rejected, and now it drop 42 pips

Am I starting to understand the market, or another illusion going on.

11/4/2014

Time is 245am, I am glad I start trading option.

Made a deposit of $800, withdrawn $400 so far in just a couple of hour.
Current balance is $900 + $87.50 trade running.

Maybe I should just trade Option Binary as I am a bad loser. Spot Forex will kill me.
And its quite fun to keep reopen position at good price and grind the money.


Somehow when I play spot forex, I never really achieve 1 : 0.83 Risk Reward and everytime its likely 1 : 0.3 to 0.5 at max
Maybe I should just go with option. Hope this is a new start and a new opportunity for me.

16/4/2014

Someone revive a thread > http://www.forexfactory.com/showthread.php?t=257620

I think its quite useful, deploy some and saw it could apply to real trading situation, break out look real.
Combining with my heavy resistance for SL placing.

Price is moving in my favor for the commodities pair that I open just .

Risk on soon, commodities outpower euro and gbp, and dollar will shrink.

This week was a profitable week for me.

Withdrawn over $10,000 usd, most was my deposit last week to hold my EUR/USD short, close my short the moment market open.
The other few things I did was to introduce trend line to my system. And also to look at price action.

Make a long call on EUR/CHF at 1.2150 with SL at 1.1980, targetting 50 pips using 5 LOTS about $7000 USD, but I close it after 5 pips profit because I just want to take my money out, you can call it fear trading. But well, now I feel much comfortable sleeping at night.

The rest of the week was mainly scalping and entry for 20-30 pips profit. sometime just break even trade.

I try not to go against the price action. Some mistake I did this week was to add to loser, especially on NZD/USD, fortunately today I close some and reduce my unrealized loss.

Overall this week was a profitable week.

The past 2 weeks was a good trading sessions

chaosbun,

No one cares if you don't have Explorer to show it.
Or Mybookfx..

Support & Resistance are futile when fundamental news release.

Trade trend & s/r when news over.