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Prez Forex (pres78) Trading Journal

  • #441
  • Edited 7:21am Jan 22, 2016 6:49am | Edited 7:21am
But now today at LO the same 3 pairs EURCAD, USDCAD and GBPCAD only gave me one entry I liked which was a 5 min ND on EURCAD into the LO zone L. USDCAD gave an almost ND but I chose not to take it (wish I had ​) and GBPCAD was a ranging mess so I stayed away. Everyday is different.
Today's zone = Tomorrow's opportunity!
  • #442
  • Jan 22, 2016 7:29am Jan 22, 2016 7:29am
Another day, another loss. Yeah GCAD was bound to ranging after such a fall, but VZA said sell, so I sold. ND closed just outside, stop was 86 pips away. Sell stop takes me in, then goes for the stop.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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At the moment I achieve less than 50% winrate. This was never discussed before, but is this that kind of strategy, when few big winners carry the account on their backs? So far I was under the impression, that it is not the case, but I keep choosing the losers.
Price and volume reveals everything. The market moves on supply and demand.
  • #443
  • Jan 22, 2016 7:45am Jan 22, 2016 7:45am
Quoting Darastonius
Another day, another loss. Yeah GCAD was bound to ranging after such a fall, but VZA said sell, so I sold. ND closed just outside, stop was 86 pips away. Sell stop takes me in, then goes for the stop. {image} {image} At the moment I achieve less than 50% winrate. This was never discussed before, but is this that kind of strategy, when few big winners carry the account on their backs? So far I was under the impression, that it is not the case, but I keep choosing the losers.
​Was that a 4hr zone? Using 1hr zone from yesterday and LO zone today (which was and is the highest volume today) there are 0 trades on that pair for me when looking at 5min to 1hr charts.

I am not posting this in the trading systems as I don't feel like getting into a long drawn own conversation about win rate, trading statements etc... that those threads ALWAYS get pulled into. I am only here sharing how I trade and if others can find use in that great, if not then so be it. I have gone through posting sessions here when I showed and called live trades and I have shown after the fact trades (both ones I took and ones I didn't) and have also shown live losers. All I can say is that my win rate is well over 50% and my average R:R on part 2 is 4:1 when averaged across the last years worth of trades.

That is all I am willing to say on this matter and I hope people don't take that the wrong way.
Today's zone = Tomorrow's opportunity!
  • #444
  • Jan 22, 2016 7:51am Jan 22, 2016 7:51am
Okay I stay at the H1 zone then. I though there is some part I missed in the setup.
Price and volume reveals everything. The market moves on supply and demand.
  • #445
  • Jan 22, 2016 8:52am Jan 22, 2016 8:52am
I did not trade this, this is an example of using the LO zone because we are away from yesterday's zone.

EURGBP - LO white zone as we can see was and still is today's zone. We are below yesterday's zone and as we can see we take out the L of the LO zone and see a picture perfect low volume mark-up smack dab into the 50%. Look at the complete lack of volume on that upbar... suckers mark-up to fill their waiting sells.

Lovely stuff...
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Today's zone = Tomorrow's opportunity!
  • #446
  • Jan 22, 2016 9:03am Jan 22, 2016 9:03am
I wanted to put something out there that I have been contemplating for some time and would like some feedback on if I may.

I have been thinking about doing one of two things IF time allows;

  1. Making a video of my screen during LO review and then stop the recording and re-start if I take any trades basically capturing the active parts of my trading day.
  2. Rather than a video perhaps I will set-up a skype session where people can login and watch my screen live from LO to just after NYO (or something like that) so again they can see my set-up and then how the day unfolds and even ask questions live as things go. If I ever did this I would offer comments on trade set-ups that other might be looking at but I will NEVER tell anyone what to trade and will take no responsibility if others copy my trades and lose. This very reason (trade copying and asking for trade calls or advise has me leaning towards item 1 but I would still consider item 2 if enough are interested and willing to agree to a disclaimer of sorts to protect me).

Anyway I am not sure if I will find time to do either in the near future but I wanted to see if anyone would be interested down the road if I did decide to take on one of these two tasks.

Today's zone = Tomorrow's opportunity!
  • #447
  • Jan 22, 2016 9:21am Jan 22, 2016 9:21am
Quoting pres78
I wanted to put something out there that I have been contemplating for some time and would like some feedback on...
I'm sure I speak for everyone when I say we would be grateful for either.

That said I have watched videos like you describe and I have been in live trading rooms. I personally find the live trading room much more valuable. By watching your and listening to your process, sometimes we can pick up on things that you're not really consciously trying to convey.

Specifically, I joined a VSA trading room trying to learn from that mentor and his methodology. The thing that surprised and stuck with me are not the things I expected. I learned how methodical he is in following his process the same way every day. I learned how picky he is about his trades (much more than I imagined). I learned how he can look at a market and decide he doesn't like the conditions and have no regrets about not trading that day.

I personally get up for LO for 30 mins to see if I like anything and then catch a nap before work. I'm sure there will be some people that would prefer a video because they can't make the LO. So, I lovingly propose a Skype trading room and either record it or one of us would be more than happy to record it for you and let you distribute.
  • #448
  • Jan 22, 2016 9:30am Jan 22, 2016 9:30am
Have to be careful with live chat rooms. They can get very messy, very quickly, depending on the number of people participating and the knowledge level of those taking part. I'd say number 1 personally. Then any questions can be directed to this thread.
  • #449
  • Jan 22, 2016 9:45am Jan 22, 2016 9:45am
Quoting KinsaleForex
Have to be careful with live chat rooms. They can get very messy, very quickly, depending on the number of people participating and the knowledge level of those taking part. I'd say number 1 personally. Then any questions can be directed to this thread.
Agreed. In a live trading room, don't let others talk. Typed questions fine but can't have everyone talking = mayhem.
  • #450
  • Jan 22, 2016 9:48am Jan 22, 2016 9:48am
Quoting KinsaleForex
Have to be careful with live chat rooms. They can get very messy, very quickly, depending on the number of people participating and the knowledge level of those taking part. I'd say number 1 personally. Then any questions can be directed to this thread.
Quoting Rinehart
{quote} Agreed. In a live trading room, don't let others talk. Typed questions fine but can't have everyone talking = mayhem.
Valid points and concerns for sure. Reality is we might have 5-10 people at the most so shouldn't get too bad. I agree too that only having me live talking might be a good choice with typed questions only from others.

All things I will need to consider IF I end up doing this.
Today's zone = Tomorrow's opportunity!
  • #451
  • Edited 12:41pm Jan 22, 2016 10:01am | Edited 12:41pm
To save a lot of back and forth posts discussing this matter I have added a poll (see top of page 1) for people to vote on to try and gauge the interest in having a live session at some point down the road.
Today's zone = Tomorrow's opportunity!
  • #452
  • Jan 22, 2016 12:03pm Jan 22, 2016 12:03pm
Quoting pres78
But now today at LO the same 3 pairs EURCAD, USDCAD and GBPCAD only gave me one entry I liked which was a 5 min ND on EURCAD into the LO zone L. USDCAD gave an almost ND but I chose not to take it (wish I had ​) and GBPCAD was a ranging mess so I stayed away. Everyday is different.
I did one trade today and it was EURCAD as well. Got 1:1 on it. Was it the same one?
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Volume at Volume
  • #453
  • Jan 22, 2016 12:23pm Jan 22, 2016 12:23pm
Quoting Rinehart
{quote} I'm sure I speak for everyone when I say we would be grateful for either.....
I second that. Whatever you have time for.
Volume at Volume
  • #454
  • Jan 22, 2016 12:31pm Jan 22, 2016 12:31pm
Quoting VSAgav
{quote} I did one trade today and it was EURCAD as well. Got 1:1 on it. Was it the same one? {image}
​Yes that is the one. Got stopped out to the pip for 2:1 after hitting as low as 4:1. SL was 30 pips (which again is wider than I like) but the location made sense and the pairs ADR is over 180 which at the time of entry meant that we still had room in the ADR for me to get 2:1 if it didn't move past the ADR.
Attached Image (click to enlarge)
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Today's zone = Tomorrow's opportunity!
  • #455
  • Jan 22, 2016 12:41pm Jan 22, 2016 12:41pm
Quoting pres78
{quote} ​Yes that is the one...... {image}
Like Rinehart yesterday Im pleased I managed to spot the same trade as you!
Im convinced its a fluke though.
A couple of things convinced me it was good. Did you take any of these in to consideration?:
1) LO HVC was below yesterdays zone
2) The clear rejection of the 50% line
3) The fact it was below yesterdays lowest price
4) The hourly had been making LHs and LLs
??
Volume at Volume
  • #456
  • Jan 23, 2016 4:37am Jan 23, 2016 4:37am
Quoting pres78
I wanted to put something out there that I have been contemplating for some time and would like some feedback on if I may. I have been thinking about doing one of two things IF time allows; Making a video of my screen during LO review and then stop the recording and re-start if I take any trades basically capturing the active parts of my trading day. Rather than a video perhaps I will set-up a skype session where people can login and watch my screen live from LO to just after NYO (or something like that) so again they can see my set-up and then...
Requested about that before if you remember. very excited to see you live and specially listening you. if you don't mind. please record a video in your voice where you intro about how really market works in your way like Accumulation distribution breakout of zone and Fakeouts etc. your basic rules which you already mentioned in FAQ which give us a more solid foundation n also will remove lots of repeated questions then start live room either on skype or teamspeak. this will be biggest gift for us in 2016.
Think Twice Low Volume is Key to Success
  • #457
  • Jan 23, 2016 4:46am Jan 23, 2016 4:46am
Quoting pres78
{quote} I use yellow for the zone from yesterday that I am watching, white for today's zone when it becomes active after we've moved away from yesterday's zone and gray dotted for currently watched news zones. We always want to see some sort of move away from a zone before coming back to test and then look for an entry. At this point it's best to wait for tomorrow at LO and see where we are with respect to today's zones and find the ones that look the most tradable and look for your trade plan set-ups. As I've said before when just starting on...
This should also on FAQ
Think Twice Low Volume is Key to Success
  • #458
  • Jan 25, 2016 4:47am Jan 25, 2016 4:47am
after hitting the 4hr zone low from 8th Jan entry was 2BR on 1min and ND on 5Min
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Think Twice Low Volume is Key to Success
  • #459
  • Jan 25, 2016 6:33am Jan 25, 2016 6:33am
[quote=pres78;8706629]I wanted to put something out there that I have been contemplating for some time and would.....

Hi pres

This will be more than a gift, it will be a blessing. I think you should do item 1 and 2, if you have the time.
  • #460
  • Jan 25, 2016 7:11am Jan 25, 2016 7:11am
22 Jan 1hr zone printed lack of buying bar below 50% marked with vertical line .entry was on 1min no demand below 1min zone. is it ok to play shorts above 50% if we get high volume upbar like 22 Jan inside previous zone coz high of 21 Jan Zone take out and Low of 22Jan Zone taken out so kind of mixed view.
and sorry i did not asked for permission to post charts in your journal. if you dont like i will not post charts of trades. thanks
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Think Twice Low Volume is Key to Success
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