Discovering An Edge

Ucad hourly close below 1.2360 will have me in short target 1.2310...in 1.2341

shit Vlady.....sorry for posting my trades in here....this is your thread. I will stick to general comments and not clutter your space. My bad.

Mate, don't worry! It's about edge discovery! It's interesting actually seeing your thought processes as it's different to mine but it's quite insightful. Feel free mate!
Shitty day at work for me so hardly getting a touch or an update. My USDCADs were stopped out.

In this current market environment, I would be hesitant to hold trades over night and for days... A la swing trading. Nothing is trending IMO. I play momentum setups above and below the stretch channel on hourly closes. I lock in some profit fairly quickly as I trade with a minimum of 3-5% risk per trade...then look for ATR targets or recent high lows. Seems to work very well and very low stress

all my remainders stopped be+

U can half off +10....SL be+3 Jumping stop at 5 pips.....reason is CSM turning over on 5and 15....protect protect protect

out BE+3

This is what I mean re: CSM

The 15M (2nd) and 60 M (3rd) angles are the most important. The top one (5min) is an early warning device

short GA....2.0311.... t1 10 pips...T 2 LOd test

Long GBPAUD @ 20364 on break of downward sloping trendline.

Today was a busy and somewhat grey day at work. I think it affected my psychology and attitude. I've not had a good feeling on trading, so I've stayed away.
I feel the need to pause again and re.... reintegrate with the facets of the art that resonate with me.

1) Trading with the trend
This simple concept when practically applied must necessitate wa33iting patiently until a trend is established first.
The hard part of identifying this is the relativity of time as it relates to a chart, your interpretation of the chart and the trading window you desire.
To make it simple, I always start with the Weekly, then Daily, then 4H, then 1H, then 15M, then 5M. I think that disconnection from this process leads to "dis-integration" of the whole.

2) History Does Not Repeat... Every Moment Is New and Unique
There is a difference between tendency/repetition of movement, to the exactness and purity of spontaneous action. I cannot recreate a movement with precise exactness.... ever, for there are too many variables to control and have at the exact moment. I know this from playing guitar, drawing, martial arts, exercise, computers and software. Trading setups are therefore those that trigger "tendencies" that have probabilities - but I am never certain of direct/cause and effect.
Just because a trendline or moving average converges with price DOES NOT CAUSE price to behave as I expect it. Price movement is random in its own right... but mass behaviour represented by prices has tendencies that lead to probable outcomes over others... leading to an "Edge"

3) Consistency is Better Than Correctness
This is very difficult. Most people I've met in my life, including those in my family prefer to be right. Sometimes they prefer to be right than to be happy. I'd rather be happy all the time or as much as I can.... (ie. emotional consistency). So to I think that trading is a balancing of both. The methodology for implementation of consistency is money management. Also very difficult, if not done without discipline of a mechanical process that reduces discretionary tendencies or subjectivity.

I post these thoughts to the journal to maintain the discipline of reflection, introspection and the creation of mental space.

Short AUDUSD @ 7739 Stops to BE +2,
(thanks to my friend Ephisi for this tip!) It related to my GBPAUD long so made sense to jump on the correlation.

Long USDCAD @ 12340.5
Got a lofty target of 12537, but got alot of levels to get through first, like the 1H 50EMA. The step up nature of the rise from 12320 seems to indicate more down unless a breakout happens. Stops to BE

Cool buddy. We should get to our destination.

Im also long usdjpy, hope to clear some stops up there

Loaded up again on USDJPY and USDCAD. The market retraced on both these but not at the critical level I am monitoring. Targets I've previously posted still in effect: UC @ 12535 , UJ 12613

Uj 126.13?

That's correct mate. I have a very reliable targeting process. It has a high % win rate on targets being hit. What's difficult is the trade management from inception through middle phase of the trade evolution.

Edit:
What is also interesting about that target is this : USDJPY has usually been inverse correlated with EURUSD.

Ok, just wanted to be sure. 126 will have to happen with a squeeze. Strong move. Im in

closed for 33

12305 is stop and 12394 is trigger to move to BE or TP1 depending on your mood. I tend to split it into different parts.