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My Pattern/Trend Journal

  • #61
  • Aug 6, 2015 1:33am Aug 6, 2015 1:33am
Quoting gsbharaj
well found bat pattern on audjpy. again its in loss. i hope i come out of it. feeling like this is my unlucky pair https://www.tradingview.com/chart/AU...y-bat-4-hours/
well well..second time in row i ended up in loss with this pair. the price spiked and kissed my stop loss .should have placed it above X .
as the bat pattern is still intact, i have entered the trade with same target but sl above x(if it hits my pattern will be invalidated,so no more enteries)
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Come tomorrow, I'll wake up new
  • #62
  • Aug 8, 2015 4:48pm Aug 8, 2015 4:48pm
Ew yeah I find that a lot when trading the patterns only. What I have been doing is trying to place my stop 10 pips past X. I like to see at least a 1.3 Risk Reward though so sometimes I may just stay out of the trade all together.

Also I try and watch for the numbers ending in zero say if your SL comes out to 1.5168 I bump that up further to say 1.5174 so 2 pips past plus the spread. Seems to help stay in trades where they like to hit my SL. Doesn't work all the time they still seem to like to kiss my stoploss then make a v line straight to my TP
  • #63
  • Aug 9, 2015 7:15am Aug 9, 2015 7:15am
Quoting maxss280
EURUSD Long Limit Set Bat 3 Major Structure 2 HTF 1 Ratio Confluence 1 About a little over 1 to 1 risk reward if my extended profit is hit. Once my first tp is hit I will move stoploss for the second half to BE {image}
Hey max, checking out you pattern journal, i was wondering what rules you apply when you rate the pattern in terms of structure/ratios etc?
  • #64
  • Aug 10, 2015 3:41am Aug 10, 2015 3:41am
i was feeling that i hijacked your thread. well, i have opened my own journal. will be only trading 240 min chart and patterns.
Come tomorrow, I'll wake up new
  • #65
  • Aug 10, 2015 7:49am Aug 10, 2015 7:49am
Quoting gsbharaj
i was feeling that i hijacked your thread. well, i have opened my own journal. will be only trading 240 min chart and patterns.
Np Man
  • #66
  • Aug 10, 2015 7:52am Aug 10, 2015 7:52am
EUR/AUD 30 min Gartley pattern I am also watching for a bounce off of structure at 1.4895

No news until 20:30 tonight for AUD so not to worried about it breaking through. Or no reason that I can think of really always a chance though.
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  • #67
  • Aug 10, 2015 7:55am Aug 10, 2015 7:55am
Quoting Asr1
{quote} Hey max, checking out you pattern journal, i was wondering what rules you apply when you rate the pattern in terms of structure/ratios etc?

Sure thing
Patterns
Cypher
AB = Of XA 38.2 – 61.8
BC = Of XA 113 – 141.4
CD = OF BC 1.172 – 200 and of XC 78.6

Gartly
AB = Of XA 61.8 Touch
BC = of AB .382 - .886
CD = of BC 1.272 – 1.618 and of XA .786

Bat
AB = of XA .382 – 50
BC = of AB .382 or .886
CD = of BC 1.618 – 2.618 and of XA .886

Hopefully that makes since. I accept patterns that close within those ranges if there is a spike past I don't mind. So for instance on that EUR/AUD the 15 minute wouldn't be valid since it closed outside of the range. But the 30 min pattern is in my plan.

For the ab=cd moves as long as it pulls back and touches the 382 I consider it valid. If it doesn't it still has some significance as a harmonic move to me so depending on how it looks I may enter it.
  • #68
  • Aug 10, 2015 8:05am Aug 10, 2015 8:05am
AUD/CAD
Structure play here
Major Struct 2
RSI Oversold 1
Previous touch 1
HTF 1
Ratio Confluence 1
Additional Touch 1
Score of 7
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  • #69
  • Aug 10, 2015 8:26am Aug 10, 2015 8:26am
GBP/AUD
Structure Trade
Minor Structure 1
RSI Oversold 1
RSI Divergence 1 (When/If we get there I assume)
Ratio Confluence 1
HTF 1

Score of 5
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  • #70
  • Aug 10, 2015 8:29am Aug 10, 2015 8:29am
Not seeing many Patterns on these Time frames today unless they are really big but went though all in my port so just going to check in periodically and monitor the orders I have open. Lockhart speaks at 11:25 and I want to stay away from that until after he is done and by then it's the end of my active trading day normally. So may not hear much from me the rest of the day
  • #71
  • Aug 10, 2015 11:23am Aug 10, 2015 11:23am
Stumbled onto CADJPY
Major Struct 2
Gartley 3
RSI Oversold 1
Ratio Confluence 1
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  • #72
  • Aug 10, 2015 11:24am Aug 10, 2015 11:24am
Still have warm fuzzies for the audcad trade
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  • #73
  • Aug 10, 2015 1:35pm Aug 10, 2015 1:35pm
Guess my warm fuzzies are gone

Continued down where just goes to prove it will do what it wants lol. Entered a recover trade for the 4 lots when it decides to behave itself.
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  • #74
  • Aug 10, 2015 1:42pm Aug 10, 2015 1:42pm
Quoting maxss280
{quote} Sure thing Patterns Cypher AB = Of XA 38.2 61.8 BC = Of XA 113 141.4 CD = OF BC 1.172 200 and of XC 78.6 Gartly AB = Of XA 61.8 Touch BC = of AB .382 - .886 CD = of BC 1.272 1.618 and of XA .786 Bat AB = of XA .382 50 BC = of AB .382 or .886 CD = of BC 1.618 2.618 and of XA .886 Hopefully that makes since. I accept patterns that close within those ranges if there is a spike past I don't mind. So for instance on that EUR/AUD the 15 minute wouldn't be valid since it closed outside of the range. But the 30 min pattern is in my plan. For the...
hey max thanks for the reply i think my question was misunderstood, i know the ratios for the patterns gartley, bat etc what i was asking about is throughout your journal you give each pattern a score out of 10(im guessing)

UD/CAD
Structure play here
Major Struct 2
RSI Oversold 1
Previous touch 1
HTF 1
Ratio Confluence 1
Additional Touch 1
Score of 7

how do you go about scoring i see you have categories and such? i trade harmonic patterns also so was just curious really as i am seeking ways to filter the good patterns from the bad and refine the strategy.
  • #75
  • Aug 10, 2015 2:20pm Aug 10, 2015 2:20pm
Quoting Asr1
{quote} hey max thanks for the reply i think my question was misunderstood, i know the ratios for the patterns gartley, bat etc what i was asking about is throughout your journal you give each pattern a score out of 10(im guessing) UD/CAD Structure play here Major Struct 2 RSI Oversold 1 Previous touch 1 HTF 1 Ratio Confluence 1 Additional Touch 1 Score of 7 how do you go about scoring i see you have categories and such? i trade harmonic patterns also so was just curious really as i am seeking ways to filter the good patterns from the bad and refine...
Ah that is just a CTS (combined technical score) think it has a few names. Basically a checklist so you trade more consistently and less willy nilly has helped me alot.

It can be whatever you want to look at for example mine is:

RSI 5 20/80 Over Bought over Sold 1
RSI Divergence 1
Minor Structure 1
Major Structure 4hr Chart 2
Ratio Confirmation Fibs lining up in one point 1
HTF Confirmation 1
AB=CD completion 2
Gartley/Butterfly/Bat Completion/Cypher 3
Additional Test of Structure 1

My trading plan allows for me to open half sized position 4-6 and 7+ full sized position.

If you used other methods of trading or indicators you could add those appropriately and adjust their strength etc. Backtesting is a major plus for the CTS scores it will allow you to back test your method more consistently also. I recommend manual backtests that way you would get the experience trading your strategy while checking to see if it is profitable.

I don't always follow my plan and usually when I don't I get burned. Which would think would teach me

For example that AUD/CAD I shouldn't have opened the other half after it dropped. Goes against my plan so was a bad trade since I was doubling down .

Touch the stove so many times your'll eventually learn right ?
  • #76
  • Aug 11, 2015 2:18am Aug 11, 2015 2:18am
Quoting maxss280
{quote} Ah that is just a CTS (combined technical score) think it has a few names. Basically a checklist so you trade more consistently and less willy nilly has helped me alot. It can be whatever you want to look at for example mine is: RSI 5 20/80 Over Bought over Sold 1 RSI Divergence 1 Minor Structure 1 Major Structure 4hr Chart 2 Ratio Confirmation Fibs lining up in one point 1 HTF Confirmation 1 AB=CD completion 2 Gartley/Butterfly/Bat Completion/Cypher 3 Additional Test of Structure 1 My trading plan allows for me to open half sized position...
nicely said.
the best way is to document your trades. you will come to know what went wrong and makes you disciplined.
Come tomorrow, I'll wake up new
  • #77
  • Aug 11, 2015 7:42am Aug 11, 2015 7:42am
Ouch forgot to close my AUD trades last night before I left That hurt O_o
  • #78
  • Aug 11, 2015 8:05am Aug 11, 2015 8:05am
AUDCAD 5 min Bat
Bat 3
Major Struct 2
RSI Divergence 1
Ratio Confirmation 1
HTF Confirmation 1
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  • #79
  • Aug 11, 2015 8:10am Aug 11, 2015 8:10am
Better Screen shot so when I come back I won't be like WTH why I take that lol
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  • #80
  • Aug 11, 2015 8:30am Aug 11, 2015 8:30am
GBPJPY
Bat 3
Major Structure 2
HTF Confirmation 1

Opened half sized position only 6 score
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