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Alifari's Trading Journal

  • #281
  • Aug 11, 2014 2:52pm Aug 11, 2014 2:52pm
Quotes 4 (Market)
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The purpose of knowledge is action, not knowledge
  • #282
  • Aug 11, 2014 3:04pm Aug 11, 2014 3:04pm
Quotes 5 (Study your actions)
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The purpose of knowledge is action, not knowledge
  • #283
  • Aug 11, 2014 5:18pm Aug 11, 2014 5:18pm
NZDUSD M30 SUPPLY ZONE

Result +2R
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The purpose of knowledge is action, not knowledge
  • #284
  • Edited 5:46am Aug 12, 2014 5:34am | Edited 5:46am
EURUSD M30 SUPPLY ZONE

Result +2.8R
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The purpose of knowledge is action, not knowledge
  • #285
  • Aug 12, 2014 5:39am Aug 12, 2014 5:39am
EURJPY M30 SUPPLY ZONE

Result +2.10R
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The purpose of knowledge is action, not knowledge
  • #286
  • Aug 12, 2014 5:48am Aug 12, 2014 5:48am
Here is another trade on EURUSD based on M30 Supply zone in Post #284

But entered lower on M5 Supply Zone

Result +5R
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The purpose of knowledge is action, not knowledge
  • #287
  • Aug 12, 2014 6:45am Aug 12, 2014 6:45am
"Losses are not mistakes, they are the occasional and inevitable consequence of exposing oneself to risk".


USDCHF M30 SUPPLY ZONE

Result -1.0R
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The purpose of knowledge is action, not knowledge
  • #288
  • Aug 12, 2014 6:49am Aug 12, 2014 6:49am
EURUSD M30 DEMAND ZONE

Result -1.0R
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The purpose of knowledge is action, not knowledge
  • #289
  • Aug 12, 2014 8:15am Aug 12, 2014 8:15am
USDJPY M30 SUPPLY ZONE

Result +1.5R
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The purpose of knowledge is action, not knowledge
  • #290
  • Aug 14, 2014 6:56am Aug 14, 2014 6:56am
USDCAD PRICE ACTION TRADE

Result +2.4R

Reason: Multiple tests of resistance on M30 and as such anticipating breakout of resistance, dropped down to M5 & M1 for tight entry and S&D structure.

M30 & M1 Charts
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The purpose of knowledge is action, not knowledge
  • #291
  • Aug 14, 2014 7:05am Aug 14, 2014 7:05am
USDCAD M15 SUPPLY ZONE

Result +5.20R

Chart M15 & H4

NOTE: The trades I post in this thread are mainly different trading style I use in my trading (based on Supply & Demand) and the purpose is to keep record of these trades at one place, so that I could refer back to these trades, whenever I need it. As such the trades I am posting in this thread are not the only trades I am taking, I do have many losing trades too, but the losses are always about 1R or less, so the winners take care of these small losses.
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The purpose of knowledge is action, not knowledge
  • #292
  • Aug 14, 2014 9:26am Aug 14, 2014 9:26am
nice one, Alifari! btw, is this a touch trade/pending order? Or do you zoom in lower TF to finetune your entry?

same question to your last 5RR trade of USDCAD?

Quoting alifari
USDJPY M30 SUPPLY ZONE Result +1.5R {image}
  • #293
  • Aug 14, 2014 9:45am Aug 14, 2014 9:45am
Quoting charvo
nice one, Alifari! btw, is this a touch trade/pending order? Or do you zoom in lower TF to finetune your entry? same question to your last 5RR trade of USDCAD? {quote}
1) The first USDCAD long trade (+2.4R) I call it PA trade LJ Style (Price action trade - higher time frame bias with very low time frame entry). It was a market order as the price action on M30 suggesting a bullish breakout heading towards the upper supply zone. So zoomed into M5 and than M1 and the demand structure was suggesting that that M1 demand should hold on retest if buyers are in control and willing to take price higher. These types of trades offer very quick trade result with good reward, but you have to be very quick in reacting, as the moves are fast.

2) The second USDCAD short trade (+5.2R) was a touch trade pending order based on M30 or M15 supply zone marked and order placed well in advance. I usually take profit at 2R but if we look at H4 and the reasons I mentioned on my charts I held it further than 2R and it worked this time.
The purpose of knowledge is action, not knowledge
  • #294
  • Aug 14, 2014 9:55am Aug 14, 2014 9:55am
very clear explanation, thanks! i did spot LJ's smell in your 1st trade, lol.

so Post 289, that usdjpy 1.5R is also a pending order, right? just like your 2nd USDCAD trade, very similar to me......

Quoting alifari
{quote} 1) The first USDCAD long trade (+2.4R) I call it PA trade LJ Style (Price action trade - higher time frame bias with very low time frame entry). 2) The second USDCAD short trade (+5.2R) was a touch trade pending order based on M30 or M15 supply zone marked and order placed well in advance.
  • #295
  • Aug 14, 2014 10:01am Aug 14, 2014 10:01am
Quoting charvo
very clear explanation, thanks! i did spot LJ's smell in your 1st trade, lol. so Post 289, that usdjpy 1.5R is also a pending order, right? just like your 2nd USDCAD trade, very similar to me...... {quote}
Yes, USDJPY (Post 289) was pending sell order, but the exit was done manually as price was close to SR flip level.
The purpose of knowledge is action, not knowledge
  • #296
  • Aug 14, 2014 10:28am Aug 14, 2014 10:28am
Audusd trade examples
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The purpose of knowledge is action, not knowledge
  • #297
  • Aug 14, 2014 10:32am Aug 14, 2014 10:32am
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The purpose of knowledge is action, not knowledge
  • #298
  • Aug 14, 2014 10:57am Aug 14, 2014 10:57am
Mark Douglas seemingly mentioned that watching every tick will put a trader into insane trade management mode from the legit trading plan mode, lol

Alifari, are you full time trading? if so, how many entries can you get per day? your timezone is great for forex.
  • #299
  • Aug 14, 2014 11:21am Aug 14, 2014 11:21am
Quoting charvo
Mark Douglas seemingly mentioned that watching every tick will put a trader into insane trade management mode from the legit trading plan mode, lol Alifari, are you full time trading? if so, how many entries can you get per day? your timezone is great for forex.
Yes, I am trading full time. As regards to trades per day, I would say average 3 to 4 minimum. Around 20 trades per week.

The thing is I don't look at one particular time frame. I have 8 MT4 instances installed with different time frames and I switch back and forth and mark my zones and levels and put a price alert when price is close to level or zone of my interest and reassess the situation and decide whether to place pending order or wait for price action to enter trade or just ignore the trade.

The timeframe I use are M5, M15, M30, H1, H4, D1, W1, MO1 (Weekly & Monthly I review every week)

At present I am looking 17 Currency Pairs, before it was around 25 but I realized some of those pairs are highly correlated either way, so it's a waste of time to keep looking those pairs. Might cut down few more in future based on pair volatility. For example EURUSD & USDCHF are inversely correlated, so if EURUSD is going up USDCHF is going down, so there is no point at looking both pairs.

I hope this helps.
The purpose of knowledge is action, not knowledge
  • #300
  • Aug 14, 2014 11:44am Aug 14, 2014 11:44am
"My intent is simply to know my material so well that I'm very comfortable with it. Confidence, not perfection, is the goal".

EURUSD SWAP ZONE TRADE EXAMPLE
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The purpose of knowledge is action, not knowledge
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