The super duper awesome method that I trade

Spent this morning readjusting my lines and adding pairs in prep for CPI this morning.Sitting on my hands and waiting for the spike.

Cost of trading, Both stopped out. only 2% risk total so all is good. Im just not as practiced at NY session as I am for asia. High crude inventories I thought would give the dollar a boost. Not today. Broke through daily resistance on GBP USD. Need to sit back and take a look and breathe.

Ok after some analysis I find a couple of reasons I missed those trades

1. I was busy adding my new toys (indicators and experts) onto new pairs instead of focusing on what I had in front of me. I am not smart enough or quick enough to be quick on the draw with that many pairs. Solution Trim back down to my favorite majors. Six pairs will give me plenty of opportunities.

2. In so doing number one I neglecting reading from Forex live and Oandas heat map thus clouding my own bias with my ego. I have to remember I still have much to learn and my charts were telling me the same thing that they were saying at forexlive this morning after the first spike. I chose to believe my resistance was stronger than what it was not realizing the supply was exhausted after weeks of battle.

Im not blaming the brokers, Im not blaming "running the stops" The fault is squarely on me

While I was looking at silly MAs i missed a good sydney scalp off of fresh demand. You can see the green candles in line with a small demand zone. I was too busy fiddling with MAs to catch it. I had that alerted to but accidentally deleted my Chin Line. When I put it back on the chaRT i DID NOT READJUST IT.

Attachment

EDIT: while writing this price went back up and caught my sell limit and trade was stopped out for ten.

EDIT: ^^^^^^The above post is stopped out for +10. just for posterity and research reasons. For some reason It won't let me edit that post.





One of the things I haven't been doing is following the news. RTT no longer has their news reader but they still supply the feeds. I found a desktop version of a reader that I like, Feed Roller,. It's a little more intrusive than the old feed I had but I think I can live with it.

I added all the feeds from RTT that are pertinent to forex and shrunk the timeframe down to 48 hours.Once I get in the groove I will probably shrink it again to 24 hours.

I have added Forexlive feeds to my News reader and will add Oanda news feeds today as well. I think I will take off RTT as a lot of their news is geared for stocks, not forex.

I also have what I believe to be the final template I will be using. I cleaned all the clutter and now show very clearly where support and resistance/ supply and demand areas lie. The upper level trend winds and MM dash is well positioned now and recalculated. The MM dash is set up for a leverage of 20:1. so I recommend taking the max lots number and dividing it by 20 to get around a 1% risk per trade at ten pips.

The Chin Breakout alert was recently updated Thanks to cja!

I also have a script that will calculate pip cost, spread cost, and spread that over rides redundancy of legend for the market profiles boxes. This will help in off currency pairings from your base currency.

Christina Li's most recently updated trade manager is also loaded with very conservative scalping levels.

The JMA slope has been removed due to redundancy with the Trend analysis and CPU drain.

The Chin Break out alert lines will not show on the template. they do not load correctly so they must be added manually.

Below are the indicators

And below are:
The scripts for lot calculations and drag and drop pending orders
The Trade manager (thank's to Christina Li)
And My personal template set to 20:1 leverage, Remember to take Max lots and divide it by 20 and you will get around 1% risk per trade at ten pip stop loss

The drag and drop pending orders are set up to trade .1 lots with a ten pip stop loss and 30 pip TP. Adjust to your liking in Metaeditor. Drag a pending buy above price and it will create a buy stop (breakout). Drag it below and it will create a pending limit buy(bounce).

Like wise, For a pending sell, below price for a sell stop (breakout) or above price for a limit sell (bounce)

Below is another updated version of the Chin breakout Alert by cja!

Because cja is keeping the mq4 file for obvious reasons he made some minor tweaks in the inputs section of this version.

alarm is on
pop ups are off
email is off
sounds are on
Line thickness is 2

The sounds file needs to be unzipped and placed in your sounds folder. It will then alert you verbally which pair and whether it is at a support or resistance line. It's wicked awesome.

Saves a lot of time changing all the inputs. I would have done it myself if I had the mq4 version. But rightfully so, cja keeps that.

Video of template: Pardon my nervousness. Hope you like it.

How I look at the Asian channel trades

EDIT: was stopped out for 10 by trade manager while writing this. Need to look at why trade manager still keeps messing up my longer trades.