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Alifari's Trading Journal

  • #821
  • Jul 6, 2015 1:12pm Jul 6, 2015 1:12pm
AUDUSD Sell Market order at at M5 historical SR level + M1 supply zone. Average zig zag length was about 28 pips, which coincide with M5 demand level, so perfect spot for take profit.

Entry: 0.7519
SL: 0.7525 (6 pips)
TP: 0.7508 (11 pips)

Trade Result: +1.83R
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 27-AUDUSDM5.png Size: 35 KB
Click to Enlarge Name: 27b-AUDUSDM5.png Size: 51 KB
Click to Enlarge Name: 27c-AUDUSDM5.png Size: 58 KB
The purpose of knowledge is action, not knowledge
  • #822
  • Jul 8, 2015 11:58am Jul 8, 2015 11:58am
Here is one useful indicator as it extends supply & demand zones or trendline to immediate right. Good for false break out type trades or analyze how far price goes after breakout.
Attached Image (click to enlarge)
Click to Enlarge Name: false breakout indi.png Size: 38 KB
Attached File(s)
File Type: mq4 BlueZonesHiLo.mq4   8 KB | 315 downloads
The purpose of knowledge is action, not knowledge
  • #823
  • Jul 8, 2015 12:00pm Jul 8, 2015 12:00pm
Indicator that place Monthly, Weekly, Daily Open, High, Low, Close on chart
Attached File(s)
File Type: ex4 OHLCAlerter.ex4   16 KB | 280 downloads
The purpose of knowledge is action, not knowledge
  • #824
  • Jul 9, 2015 11:21am Jul 9, 2015 11:21am
EURUSD M5 sell market order at M5 SR level and supply zone. M5 & M1 charts how SR level and supply zone zone below it used for entry.

Entry: 1.1045
Stop Loss: 1.1053 (8 pips)
Take Profit: 1.10275 (17.5 pips)

Trade Result +2.18R
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 28a-EURUSDM5.png Size: 37 KB
Click to Enlarge Name: 28b-EURUSDM5.png Size: 37 KB
The purpose of knowledge is action, not knowledge
  • #825
  • Jul 9, 2015 12:32pm Jul 9, 2015 12:32pm
Chart example: AUDUSD M15 Combination of SR level and SD zone. Didn't trade it, but good for record purpose, as these type of trade patterns have high probability of going to FLR/FLS.
Attached Image (click to enlarge)
Click to Enlarge Name: 29-AUDUSDM15.png Size: 41 KB
The purpose of knowledge is action, not knowledge
  • #826
  • Jul 9, 2015 1:01pm Jul 9, 2015 1:01pm
Quoting alifari
Chart example: AUDUSD M15 Combination of SR level and SD zone. Didn't trade it, but good for record purpose, as these type of trade patterns have high probability of going to FLR/FLS. {image}
Thanks for sharing this. It does make sense!
Regards
Esther
  • #827
  • Jul 15, 2015 1:02pm Jul 15, 2015 1:02pm
EURUSD M5 Buy Market Order at M5 SR level.

Long Entry: 1.0936
Stop Loss: 1.0929 (7 pips)
Take Profit: 1.0945 (9 pips)

Trade Result +1.29R
Attached Image (click to enlarge)
Click to Enlarge Name: 30-EURUSDM5.png Size: 20 KB
The purpose of knowledge is action, not knowledge
  • #828
  • Jul 15, 2015 1:49pm Jul 15, 2015 1:49pm
GBPUSD M5 Sell Market Order at M5 SR level.

Long Entry: 1.5642
Stop Loss: 1.5652 (10 pips)
Take Profit: 1.5632 (10 pips)

Trade Result +1.00R (Actual take profit was at 1.5626 (16 pips) but decided to take profit at FLS
Attached Image (click to enlarge)
Click to Enlarge Name: 31-GBPUSDM5.png Size: 48 KB
The purpose of knowledge is action, not knowledge
  • #829
  • Edited 8:57am Jul 20, 2015 8:35am | Edited 8:57am
To be profitable you have to stop thinking in terms of pips earned and concentrate on risk to reward ratio and trade expectancy.

EURUSD sell limit order based on retracement to M5 / M1 support turned resistance level

Entry: 1.08493
Stop Loss: 1.08533 (4 pips)
Take Profit: 1.0840 (9 pips)

Trade Result +2.25R
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 33b-EURUSDM5.png Size: 55 KB
Click to Enlarge Name: 33a-EURUSDM5.png Size: 55 KB
The purpose of knowledge is action, not knowledge
  • #830
  • Jul 20, 2015 10:00am Jul 20, 2015 10:00am
EURUSD M5 demand level with overall price action suggesting bullish momentum to continue. Although price hit my take profit target, closed trade with a small loss, as there was a chance price could hit my stop loss before hitting take profit.

Buy Market Entry: 1.0856
Stop Loss: 1.0848 (8 pips)
Take Profit: 1.0866 (10 pips)

Another buy limit order was placed at 1.0850 which didn't triggered.

Trade Result: -0.12R

Both Before & After chart
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 34a-EURUSDM5.png Size: 24 KB
Click to Enlarge Name: 34b-EURUSDM5.png Size: 22 KB
The purpose of knowledge is action, not knowledge
  • #831
  • Jul 22, 2015 10:54am Jul 22, 2015 10:54am
Since last few days, I am only trading EURUSD, here is a trade I just took, once you watch a pair day in day out, you get a feel for how the pair moves and then you can enter with tight stop loss and better risk to reward ratio.

Not reading fundamental news or watching other pairs also helped as I am not biased to either bullish or bearish and trading purely based on price action, SR levels and supply & demand zones.

Buy Market Order : 1.0890
Stop Loss: 1.0895 (5 pips)
Take Profit: 1.0904 (14 pips)

Trade Result +2.80R
Attached Image (click to enlarge)
Click to Enlarge Name: 35-EURUSDM5.png Size: 34 KB
The purpose of knowledge is action, not knowledge
  • #832
  • Jul 22, 2015 11:28am Jul 22, 2015 11:28am
Another trade on EURUSD based on H1 SR level + M1 price action.

There were couple of trades taken in between these two profitable trades, both closed at about breakeven as didn't like the reaction after entry.

The best trades are those which goes in profit instantly after a trade is triggered, I call it momentum trading. If the price is hanging around my entry point for longer then expected then I cut trade with small loss/profit or breakeven and by doing that I can always reenter at a discounted price.

Buy Market Order : 1.0872
Stop Loss: 1.0865 (7 pips)
Take Profit: 1.083 (11 pips)

Trade Result +1.57R
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 36a-EURUSDM1.png Size: 34 KB
Click to Enlarge Name: 36b-EURUSDM1.png Size: 30 KB
The purpose of knowledge is action, not knowledge
  • #833
  • Aug 3, 2015 11:29am Aug 3, 2015 11:29am
EURUSD Short trade based on M5 + M1 price action. Entry on retest of latest supply zone.

Sell limit = 1.09625

Stop Loss = 1.0967 (4.5 pips)

Take Profit = 1.09541 (8.4 pips)

Trade Result +1.87R

Drawdown = 0.10 pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Image 1.png Size: 34 KB
Click to Enlarge Name: Image 2.png Size: 28 KB
The purpose of knowledge is action, not knowledge
  • #834
  • Aug 3, 2015 11:44am Aug 3, 2015 11:44am
very nice trade, Ali. i see a different LJ emerging, you have your own style now, i feel.

so 1.5~2 RR seems your average RR for most of your trades, doesn't it?

Quoting alifari
EURUSD Short trade based on M5 + M1 price action. Entry on retest of latest supply zone. Sell limit = 1.09625 Stop Loss = 1.0967 (4.5 pips) Take Profit = 1.09541 (8.4 pips) Trade Result +1.87R Drawdown = 0.10 pips {image} {image}
  • #835
  • Aug 3, 2015 11:52am Aug 3, 2015 11:52am
Quoting alifari
EURUSD Short trade based on M5 + M1 price action. Entry on retest of latest supply zone. Sell limit = 1.09625 Stop Loss = 1.0967 (4.5 pips) Take Profit = 1.09541 (8.4 pips) Trade Result +1.87R Drawdown = 0.10 pips
Here is a chart showing my reason to short.
Attached Image (click to enlarge)
Click to Enlarge Name: Image 3.png Size: 40 KB
The purpose of knowledge is action, not knowledge
  • #836
  • Aug 3, 2015 12:09pm Aug 3, 2015 12:09pm
Quoting charvo
very nice trade, Ali. i see a different LJ emerging, you have your own style now, i feel. so 1.5~2 RR seems your average RR for most of your trades, doesn't it? {quote}
Hey Charvo,

Yes, my average RR is between 1.5 to 2.0. Since last month I have decided to only trade EURUSD, in fact I am not even looking at other pairs and only concentrating on one pair have helped me understand the characteristics of this pair, as to when and how far it move, what is the average swing size on each time frame. How this pair reacts at support or resistance etc.

Risk to reward ratio and trade expectancy, in my opinion are two most important factor which many traders tend to ignore. It doesn't matter whether your profit is 50 pips or 5 pips, as long as $ terms remain same. My average stop loss size these days are between 4 to 6 pips and that is what I am comfortable with.
The purpose of knowledge is action, not knowledge
  • #837
  • Aug 3, 2015 12:42pm Aug 3, 2015 12:42pm
EURUSD long trade based on important M30 demand level + 1 pip demand zone,

Entry: 1.09525

Stop Loss: 1.0948 (4.5 pips)

Take Profit: 1.09605 (8 pips)

Drawdown: 2.5 pips

Trade Result: +1.78R

Before and after charts attached to confirm stop loss and take profit placement before entering trade.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Image 7.png Size: 32 KB
Click to Enlarge Name: Image 6.png Size: 39 KB
Click to Enlarge Name: Image 4.png Size: 40 KB
The purpose of knowledge is action, not knowledge
  • #838
  • Aug 3, 2015 12:53pm Aug 3, 2015 12:53pm
really, i am also considering to watch only 2 or 3 charts these days.

having a constant developing image in my brain seems very important to my reading of the PA. i cannot have more than a few evolving images in my brain, lol.

but in ur case, what's the spread of ur EU pair? within 1 pip?

i now believe that M1, M5 is best to read the PA (more reliable/accurate), but one negative issue would be the spread becomes a significant factor in RR......


Quoting alifari
{quote} Hey Charvo, Yes, my average RR is between 1.5 to 2.0. Since last month I have decided to only trade EURUSD,
  • #839
  • Aug 3, 2015 1:06pm Aug 3, 2015 1:06pm
Quoting charvo
really, i am also considering to watch only 2 or 3 charts these days. having a constant developing image in my brain seems very important to my reading of the PA. i cannot have more than a few evolving images in my brain, lol. but in ur case, what's the spread of ur EU pair? within 1 pip? i now believe that M1, M5 is best to read the PA (more reliable/accurate), but one negative issue would be the spread becomes a significant factor in RR...... {quote}
I am paying about $8 round commission on 1 standard lot (100k). Spread is about 0.5 pips, but frankly speaking I don't take into account spread factor in my trading. I look it this way if I win my profit would be gross profit less commission. The RR I post here are actually before commission, but I don't think too much about these two factors viz. spread & commission, as long as my RR is better than 1.5.
The purpose of knowledge is action, not knowledge
  • #840
  • Aug 5, 2015 10:34am Aug 5, 2015 10:34am
INDICATOR: Zig Zag indicator that show highest and lowest wave length in pips of last # of bars
Attached Image (click to enlarge)
Click to Enlarge Name: Image 8.png Size: 23 KB
Attached File(s)
File Type: mq4 ZigZag_Biggest_Range_H&L.mq4   11 KB | 273 downloads
The purpose of knowledge is action, not knowledge
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