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Alifari's Trading Journal

Quoting alifari
Interesting Quotes: 1) Boredom: The trader wants some action, so they initiate a trade. Trades should only be enacted when entry signals are reached and not to alleviate boredom. 2) Frustration: Frustration comes from expectations not being met. Don’t focus on your P&L, focus on executing your trading plan. 3) Overwhelmed: Focus and simplicity are the keys to profits. Complexity and information overload are the road unprofitability. 4) Doubt: Only trade a system after you have thoroughly researched, back-tested, or studied it in real time. Trade...
Top quality post - like the trader's deadly sins haha
Quoting alifari
{quote}
Hi again.
Hope you are doing well.
I would like to share this work with you and see what you think.
I drew Set Up 1 for an engulfed area and waited for price to return to the zone as an FTB. Also I drew Set Up 2 as a consolidation area and again waited for the price to return expecting an FTB at my entry. I enclose H1 TF file for both setups.
Then what happens is an FTB for the setup 1 (the engulfed zone) however the price engulfs the Setup2. I enclose the M5 TF for the results. I would have traded them however it was 8 or 9 pm when it happened and I was away. I wonder if I can get any comments to why the setup2 was engulfed as in if there are any clues that would tell me it wasn't a good trade. I would have probably made an entry to that one therefore it would have been a loss... I checked and there were no important news on tv also to me it doesn't look like it was a strong move coming over...
Thanks in advance!
Esther
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDH1_Set ups 1 & 2.png Size: 36 KB
Click to Enlarge Name: EURUSDM5 the results.png Size: 35 KB
It looks like there were unplanned news at 8:38 pm (London time) and that caused the strong move!
Quoting emaniega
{quote} Hi again. Hope you are doing well. I would like to share this work with you and see what you think. I drew Set Up 1 for an engulfed area and waited for price to return to the zone as an FTB. Also I drew Set Up 2 as a consolidation area and again waited for the price to return expecting an FTB at my entry. I enclose H1 TF file for both setups. Then what happens is an FTB for the setup 1 (the engulfed zone) however the price engulfs the Setup2. I enclose the M5 TF for the results. I would have traded them however it was 8 or 9 pm when it happened...
I would not be interested in setup 1 as the SR levels were way past in history as compare to setup 2 where actually the decision was made to push price higher.

I would not have traded this setup 2 level as it triggered out of my active trading time, which is from London open to close.

However, if the setup have triggered during my active trading time, I would have placed a buy limit order at 1.1353 with stop loss at 1.1336 (17 pips) and take profit at 1.1378. However, I may have closed a trade with a -0.50R loss based on M1 price action, as it clearly suggest the demand was consumed and price is likely to move lower and that means it would eventually hit my original stop loss, so there was no point is holding a trade hoping it would work out.

The setup 2 level was a good one and I was expecting some opposing reaction from this SR FTB level despite that we saw a large bearish candle from far away approaching our FTB level, so the conclusion is yes I would have taken this setup for sure, but by actively & rationally managing this trade my loss would be around -0.50R instead of full 1R.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 3-EURUSDM5.png Size: 49 KB
Click to Enlarge Name: 3b-EURUSDM1.png Size: 26 KB
The purpose of knowledge is action, not knowledge
Thanks for your explanation, it is very clear and useful.
Regards
Esther
You can't afford to let failure get you down. Break it down to find the cause and turn it around. It can be done but it requires huge effort.

Doesn't matter how you trade, study every day with the aim of being better today than you were yesterday.
The purpose of knowledge is action, not knowledge
Thanks for the posting of the DWM ATR indicator to Hayseed's thread ... . Always wanted a tool to display ATR's without having to scroll through the various time frames ... .
Fireworks are fun ... as long as you don't blow your fingers off.
Haven't posted any trade in a while, so here is one.

USDJPY M1 SR FTB + supply zone. Stop loss was placed above SR flip level. SL 6.7 Pips TP 10 Pips - Trade Result +1.49R
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM1.png Size: 29 KB
The purpose of knowledge is action, not knowledge
Eurusd sell limit at m5 sr flip level. Sl 9 pips - tp 10.3 pips - trade result +1.14r
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM5.png Size: 29 KB
The purpose of knowledge is action, not knowledge
ha, Ali, good trade, seemingly new stuff to me, i dare not to trade that, you evolved!

Quoting alifari
Eurusd sell limit at m5 sr flip level. Sl 9 pips - tp 10.3 pips - trade result +1.14r {image}
Quoting alifari
Haven't posted any trade in a while, so here is one. USDJPY M1 SR FTB + supply zone. Stop loss was placed above SR flip level. SL 6.7 Pips TP 10 Pips - Trade Result +1.49R {image}
Key to playing lower time frames:
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM1A.png Size: 33 KB
The purpose of knowledge is action, not knowledge
Quoting charvo
ha, Ali, good trade, seemingly new stuff to me, i dare not to trade that, you evolved! {quote}
Hey charvo,
You know I like to experiment with different entry techniques, but my method is purely based on SR & SD concept.
Attached Image
The purpose of knowledge is action, not knowledge
Gbpusd m5 sr level retest trade (also low of the day). Risk 10 pips reward 20 pips, set & forget type trade. Trade result +2r.
Attached Image (click to enlarge)
Click to Enlarge Name: 10-GBPUSDM5.png Size: 49 KB
The purpose of knowledge is action, not knowledge
EURUSD M5 SR level retest trade. Risk 10 pips reward 20 pips, set & forget type trade. Trade result -1R.
Attached Image (click to enlarge)
Click to Enlarge Name: 11-EURUSDM5.png Size: 45 KB
The purpose of knowledge is action, not knowledge
Quoting alifari
Gbpusd m5 sr level retest trade (also low of the day). Risk 10 pips reward 20 pips, set & forget type trade. Trade result +2r. {image}
Hi Alifari.
Hope you are well. Thanks for your post, it's very interesting. From looking at the chart I see a bearish whipsaw engulfing opportunity for trade. Well... I think...
I have taken your picture to draw what I have seen... although I am only a beginner...
Cheers
Esther
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5_Whipsaw Engulfing.png Size: 42 KB
Quoting emaniega
{quote} Hi Alifari. Hope you are well. Thanks for your post, it's very interesting. From looking at the chart I see a bearish whipsaw engulfing opportunity for trade. Well... I think... I have taken your picture to draw what I have seen... although I am only a beginner... Cheers Esther {image}
Yes, that was a good level to sell on retest, as this small zone have acted as important decision points in past. My preferred entry would have been somewhere around that blue arrow with stop loss few pips above the red zone.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.jpg Size: 278 KB
The purpose of knowledge is action, not knowledge
Although my trades are based on support/resistance, supply/demand and price action and not influenced by any indicator. Over the years I have studied and gathered many indicators and some of these indicators are useful in terms of providing me important information by a quick glance rather than going back and forth and checking different time frames etc. I decided to post these indicators in my journal, may be it is beneficial for other traders.

Please don't ask me questions, as to how to use a particular indicator, rather you could type the indicator name in the search option and by doing it you could directly go to the right thread, where further details could be obtained regarding that indicator.

INDICATOR LIST 1
Attached File(s)
File Type: ex4 Alert_Custom_Auto_with_Push.ex4   9 KB | 153 downloads
File Type: mq4 Alert_Custom_Auto_with_Push.mq4   10 KB | 171 downloads
File Type: ex4 ATR Levels - Modified.ex4   5 KB | 166 downloads
File Type: mq4 ATR Levels - Modified.mq4   6 KB | 211 downloads
File Type: ex4 Daily Range PeterE.ex4   5 KB | 135 downloads
File Type: mq4 Daily Range PeterE.mq4   2 KB | 154 downloads
File Type: ex4 Display Spread.ex4   7 KB | 155 downloads
File Type: mq4 Display Spread.mq4   11 KB | 153 downloads
File Type: ex4 OHLC.ex4   4 KB | 162 downloads
File Type: mq4 OHLC.mq4   2 KB | 171 downloads
The purpose of knowledge is action, not knowledge
INDICATOR LIST 2
Attached File(s)
File Type: ex4 Recent Candles.ex4   36 KB | 147 downloads
File Type: mq4 Recent Candles.mq4   37 KB | 144 downloads
File Type: mq4 Risk vs Reward Ratio v1.1.mq4   11 KB | 180 downloads
File Type: mq4 # RANGE_TRADER_9.09 dl.mq4   19 KB | 167 downloads
File Type: ex4 #DC-ZZ.ex4   13 KB | 150 downloads
File Type: ex4 #KG Support and Resistance.ex4   6 KB | 157 downloads
File Type: mq4 #KG Support and Resistance.mq4   5 KB | 184 downloads
File Type: mq4 _AllFramesTrend_4.mq4   12 KB | 172 downloads
File Type: ex4 _fractal.ex4   9 KB | 149 downloads
The purpose of knowledge is action, not knowledge
INDICATOR LIST 3
Attached File(s)
File Type: ex4 625v atr graph script version.ex4   17 KB | 135 downloads
File Type: mq4 625v atr graph script version.mq4   7 KB | 154 downloads
File Type: ex4 AnyCandle.ex4   10 KB | 136 downloads
File Type: mq4 AnyCandle.mq4   15 KB | 152 downloads
File Type: ex4 Average Fibo Historical Monthly Display v1 nmc.ex4   196 KB | 139 downloads
File Type: mq4 average price.mq4   4 KB | 141 downloads
File Type: ex4 Bagvino Bars.ex4   13 KB | 144 downloads
File Type: mq4 Bagvino Bars.mq4   4 KB | 154 downloads
File Type: ex4 bar_close_alarm_V1.ex4   2 KB | 143 downloads
File Type: mq4 bar_close_alarm_V1.mq4   2 KB | 148 downloads
The purpose of knowledge is action, not knowledge
INDICATOR LIST 4
Attached File(s)
File Type: ex4 boxed fib trades.ex4   14 KB | 183 downloads
File Type: mq4 boxed fib trades.mq4   7 KB | 191 downloads
File Type: ex4 Candle length hanover.ex4   3 KB | 141 downloads
File Type: ex4 Candle_Pips_Blocks.ex4   16 KB | 167 downloads
File Type: mq4 CandleLength.mq4   4 KB | 160 downloads
File Type: ex4 CandlePipPoints.ex4   9 KB | 165 downloads
File Type: ex4 CandlePipsv1.2.ex4   11 KB | 156 downloads
File Type: ex4 candles with alerts.ex4   11 KB | 143 downloads
File Type: ex4 Chaos Semafor - 3_Mod.ex4   11 KB | 151 downloads
File Type: mq4 Chaos Semafor - 3_Mod.mq4   13 KB | 165 downloads
The purpose of knowledge is action, not knowledge
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