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Journal of a Struggling Trader like You - I am pannet1

  • #41
  • Jul 8, 2014 1:39pm Jul 8, 2014 1:39pm
Tuesday, 8 July 2014

Total Points Gained : 50.40 Pts
Percentage Gain : 00.22 %
soldiers alive : 1 + 3 = 4

Volatility returned to the market today.

AU
--
0 SL, 0 BE, 1 TP (4 survived)

I have to take out one of my soldier on the Sell side to cover the loss i had with CC. This is hitting my account very badly. Also when I finished my journal yesterday I have to take the line Buy side soldier at BE. This was totally unnecessary. As a result I have to part with even more of my profit. To compensate for this I made a later Buy entry luckily during Asian Session.

Then in the end, I got scared I will lose the profit of my lone Buy Soldier when price started to retrace. Again I made another blunder of making a 3X sell side entry. So though the soldier totals remain the same, its all at far lesser value.


Attached Image (click to enlarge)
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CC
--
0 SL, 4 BE, 0 TP (0 survived)

CC endeavor was a total disaster to the account. I not only lost the small gain I had yesterday, but also made several bigger, small losses. Lots of them. As such, I paid the price.
  • #42
  • Jul 9, 2014 7:41am Jul 9, 2014 7:41am
Quoting pannet1
Hi Swamy, Last trade with 1.7, I did not remove arrow ( did not interfered the trade). >>> The EA is not supposed to place automatic trades, unless and until you delete the arrow. Still using 1.7 version to see how it takes next trade. Last night, EA missed buy trade on eurgbp. Though it's not EA' s fault, last night my platform was frozen for awhile some reason. >>> Repeat, EA does not have any logic to select entries, except the nearest round number. Will wait for the next trade to see how this 1.7 version takes it's trade. After will change to...
--------------------------------
Kartik: hi!

Your EA is taking trades precisly.
Though some times, it's not placing any order, while crossing the 0.0 levels.
So far, looking good.
Took number of trades, so far no loss yet.
It's based on my selection of pair and time to trade.

Thanks again!
rswamy
  • #43
  • Jul 9, 2014 12:53pm Jul 9, 2014 12:53pm
Quoting rswamy4449
{quote} -------------------------------- Kartik: hi! Your EA is taking trades precisly. Though some times, it's not placing any order, while crossing the 0.0 levels. So far, looking good. Took number of trades, so far no loss yet. It's based on my selection of pair and time to trade. Thanks again! rswamy
Mr. Swamy,

You are not understanding or you missed my reply. The EA is not supposed to place trade automatically. It should place BUY/SELL orders once you delete the arrow. Wonderful that your DEMO is coming out very well. I was not successful with the same EJ/GJ in live environment (same broker).
  • #44
  • Jul 9, 2014 2:51pm Jul 9, 2014 2:51pm
Wednesday, 9 July 2014

Total Points Gained : 05.40 Pts
Percentage Gain : 00.03 %
soldiers alive : 1 + 3 = 4

I decided to limit my trading and was able to stick to it with AU. However got tempted with EJ, CC and took small trades and came out with BE.

AU
--
0 SL, 1 BE, 0 TP (4 survived)

I could not control myself just before the FOMC news and AU made a wedge. AU did respect the TA. It went exactly to my BUY and came back to the SELL I made just before the news. I was little uneasy to trade during the news but PA seems to depend only on news. Within few minutes NEWS took away my SELL at breakeven. Then it went higher and was making a pattern i call as Rama's bow and arrow. So PA was making peak or arrow's tip. This means usually its going to rebound back, rather than going higher. So I entered a Sell confident that I could atleast BE tomorrow.

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  • #45
  • Jul 9, 2014 9:57pm Jul 9, 2014 9:57pm
Quoting pannet1
{quote} Mr. Swamy, You are not understanding or you missed my reply. The EA is not supposed to place trade automatically. It should place BUY/SELL orders once you delete the arrow. Wonderful that your DEMO is coming out very well. I was not successful with the same EJ/GJ in live environment (same broker).
-----------------------
Kartik: Hi!

Sorry I didn't pay much attention to it.
That explains, now I got it, thanks!
rswamy
  • #46
  • Apr 16, 2015 2:12pm Apr 16, 2015 2:12pm
This week I was frantically placing orders and hedging when the trade turned against me. Then I realised I am doing buy-sell, sell-buy, buy-sell always trying to have a running order. Then after making my own stRangeCandles (see first post for this indicator), I decided, I am not going to this madness again. The idea is simple. Take a pair that is trending well. Then.

1) Buy or Sell by Market
2a) Keep a mental stop loss at two candle High or Low
2b) if stop loss reached take opposite direction order.
3a) if profitable move stop loss to two candle High or Low in the same direction
3b) at the same time pyramid
3c) if stop loss is hit for profitable orders take opposite direction

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  • #47
  • Apr 22, 2015 12:08pm Apr 22, 2015 12:08pm
Today is one of the happiest day in my trading life. I was so convinced of my stRange Bars trading system. But since I am a part time trader my Mobile does not plot the stRangeBar (Metatrader Indicator), I made several trading mistakes while I was moving out. I was carrying a heavy loss overnight position. I was finally able to come out of the GBPCAD trade with minimum loss. Credit goes to my mentors from Real World and FTI's teaching.
  • #48
  • May 2, 2015 7:59am May 2, 2015 7:59am
Aussie Trader Screen Shot

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  • #49
  • Edited 12:19pm May 14, 2015 12:17pm | Edited 12:19pm
Today, (14th May 2015) is a RED letter day in my trading life Why?

I have read master FTI's thread but could not understand the time and speed of the trades. I believe intuitively we all know to take the opposite direction instead of killing a loss order. But there are more to it like how many ? (Position Size) and when ? (length of the wave which again depends on the Time frame you are looking at) I had a small success with my (st)RangeBars indicator which is because I have to wait till Price Action reaches the nearest S/Rs. The danger with this system is sometimes prices takes a U turn instead of continuing in the same direction particularly because I am trading breakouts. But after stumbling upon LaSon's journal http://www.forexfactory.com/printthread.php?t=72993&pp=20 where he clearly shows how he trades in a smallest timeframe possible and amasses lots of pips within a hour or so, my trading became more rewarding! ?

Sorry unable to post the chart because too many trades. I made 42 trades and amassed about 115 pips. I was also carrying a overnight position.

There is no secret here and the key things are:-
1) Money Management.
2) Timeframe you are comfortable with (or) one that helps you in correct Timing
3) and old adage, "When it goes up BUY, when it comes down SELL".



  • #50
  • Sep 27, 2015 9:48am Sep 27, 2015 9:48am
attack like this 1:1:3:5:10:10:10:10

https://charts.mql5.com/8/921/eurusd...g-point-of.png
don't predict direction, but dance with flow of water
  • #51
  • Sep 27, 2015 10:07am Sep 27, 2015 10:07am
Quoting priceaction1
attack like this 1:1:3:5:10:10:10:10 https://charts.mql5.com/8/921/eurusd...g-point-of.png
wow. bro priceaction1.

I am just reading one of your journal posts and like a flash you post this in my journal. what a coincidence.

thanks for stopping by.
  • #52
  • Oct 3, 2015 1:48am Oct 3, 2015 1:48am
My broker is delaying my withdrawal.

1) The reason they are saying is if I funded my account through MB first I have to withdraw the same amount through MB.
2) What actually happened was due to my country/MB restriction I could not add more funds to my account. So I contact the broker's local office and they said that they can accept local deposits as well as withdrawal. So made a local deposit over and above the initial deposit through MB. Then the salesman who promised left the company and now they are saying some stories (see 1 above).
3) Problem with withdrawal through MB is high exchange rate loss and its difficult to get Foreign money into my country.
4) Luckily its not huge amount. Then a local representative of the Broker called me and said they will arrange for the local deposit. Though their terms and condition is as per 1) above, they will do this because they need clients.

I read in FF or somewhere, where this broker acts like having two standards (one will be taking laws & rules while other is unbelievably helpful). A good tactic isn't it. Well now I will not complain to the regulatory authorities because I don't have the grudge.
  • #53
  • Edited 1:34pm Nov 13, 2015 12:56pm | Edited 1:34pm
Master FTI's golden words.

MO="dance" ie timing, rythem, pulse. use compounded, limit compounding to leg ie "stretch".
fibo=size, use fibo to your advantage, in MM not like its a golden bullet. Your staggering of MM is correct. Just your rational of where to do it.
remember to "dance" the market form.

3 Kingdoms
http://www.forexfactory.com/showthre...34#post1816034

wave
http://www.forexfactory.com/showthre...29#post1805829

feel pulse
http://www.forexfactory.com/showthre...17#post1756217

some charts
http://www.forexfactory.com/showthre...67#post1751167
http://www.forexfactory.com/showthre...93#post1751193
http://www.forexfactory.com/showthre...93#post1750893


sitting ducks
http://www.forexfactory.com/showthre...12#post1738412
  • #54
  • Jan 28, 2019 4:18am Jan 28, 2019 4:18am
short chart +15M
daily: uptrend
weekly: downtrend

buy scout in
got out of the failed bailout attempt at breakeven.
now into the 2nd bailout attempt. have used only 3x after the scout.
Attached Image (click to enlarge)
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special thanks phil13, alexandria, Exnav
  • #55
  • Jan 28, 2019 6:02am Jan 28, 2019 6:02am
Hi pannet1

my view of your chart.

regards

Phil.

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-be careful about what you allow to be put in your mind-
  • #56
  • Jan 28, 2019 9:09am Jan 28, 2019 9:09am
Hi all!
If I may... and always with the due respect, believe me.
Why always this love in trading against the NOW TREND?
Tell me why.
I don't even know what instrument is this, sorry, but ... This thing is going down. Final Target ABSOLUTE LOW.

I deleted the last leg... just to show you my view.
Attached Image (click to enlarge)
Click to Enlarge Name: 28_01_19 15.57 pannet 1.jpg Size: 144 KB
  • #57
  • Edited 9:38am Jan 28, 2019 9:19am | Edited 9:38am
Second question:
many traders put on their chart a Trend Indicator like a Moving Average (or a system of MAs)
...and then they trade against them. Without any good reason and with great joy!

What could be the obscure reason for this weird behaviour?
My spirit is just for a collective meditation.
Hope it makes sense.
Bye
  • #58
  • Edited 10:15am Jan 28, 2019 9:35am | Edited 10:15am
Quoting pannet1
My broker is delaying my withdrawal.
Hello Pannet,

Congratulations with your Struggling Journal.
Although the topic I'm touching seems very outdated. As I started to describe my concerns on TAF thread, since the Fx industry is now being under international regulatory pressure, regarding brokers, the most reliable would be holding a trading account with a bank (what you might not like, they're offering not more than 1:30 leverage). Otherwise, I should find one having two features: 1. registered and supervised by your country regulator; 2. having a physical office. Yet, I would periodically follow information/ warnings on the broker on the regulator's official website.

I hope you settled the funds withdrawal issue.

Best regards,
Exnav
Not to Advance is to Fall Back
  • #59
  • Jan 28, 2019 11:40am Jan 28, 2019 11:40am
Quoting phil13
Hi pannet1 my view of your chart. regards Phil. {image}
thanks phil

going by wave count.

there is always a scare that if i miss the impulse wave or a bounce by waiting for confirmation, the book is even more difficult to rescue.

ah .... the mindset.

lot of respects!
  • #60
  • Jan 28, 2019 11:51am Jan 28, 2019 11:51am
Quoting Jupiter
Hi all! If I may... and always with the due respect, believe me. Why always this love in trading against the NOW TREND? Tell me why. I don't even know what instrument is this, sorry, but ... This thing is going down. Final Target ABSOLUTE LOW. I deleted the last leg... just to show you my view. {image}
hi Jupiter,
you are most welcome.

i defined my trend already
the weekly is in a down trend
the daily is in up trend.
soon one is going to sync with other.

small timeframe trend is very unreliable atleast with US OIL (the only instrument, i am trading). there you see more failed breakouts than successful one. the short chart i am using is 15M and the longer chart is Daily.

before entering the scout, i have eyeballed the terrain and am mentally prepared for the bailout.

PS: I am following the TA is a fallacy thread teaching of master FTI.
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