My Edge

I keep going back and forth trading styles, I will use this journal to record my trades, missed trades and remind me of my goal.
I live in the pacific time zone and must wake up to a 9-5 job, therefore all my trades are quickly identified, placed and left alone run their course.

The trading style I am using is a combination of S/R and S/D where I identify important reversal zones and place a trade for a good R:R.
Price action patterns will also be traded whenever identified.



Someday I will wake up and realize that this quote has already became a reality.

You can be free. You can live and work anywhere in the world. You can be independent from routine and not answer to anybody - Dr. Alexander Elder, Trading for a Living




If anyone trades like me and is successful doing it, please share your insight.
Thank you!

Hey barloc! I trade support and resistance as well. I have started this strategy in August, had an EA built to save the screen time and logged my trades since September. However, September as been a really rough month for me but October as showed some awesome results. I am also looking for someone to share trade ideas. Have a look at my journal.
Matt
http://www.forexfactory.com/showthread.php?t=563373

4 hr chart--
Zone 1 got engulfed that's the signal showing that price would go lower but it needed to retrace first.
Marked the top S/D zone and put a pending order with a huge stop loss for a First time back trade.


30 min chart--
Trade 1- FTB trade got triggered
Trade 2- Entered at the quasimodo level for the good R:R trade

--Notes-
Theory states that price should drop at least to the level marked as origin of the move--
I exited at the most secure level as price might react at the next zone taking even longer to complete this trade.

2 weeks and 13 days later my TP was hit.

I did not actively trade during November.
Here is another update to my trading journey.

My trade setups occur very far apart from each other so I have decided to place 2 trades with every set up.

Trade 1 will be the regular stop loss at the safe place above stop hunts. Example Trade #3
Trade 2 will be extremely tight, if right this trade will be at least 1:5 RR. Example trade #4

Current open trade

It will either take profit or get stopped out, we shall see how this one plays out.

Awesome quote and great looking charts there. You've got it in the bag mate. Subscribed!

Continuing my journal - I decided to remove my Trade explorer as it would trigger my ego and make me self conscious at the time of trading.

Trading the 4hr chart didnt not work for me in the long term.

I tried to keep up and trade my interpretation of TRD's methodology in the lower time frames, however waiting for stops to be hunted in order to trade along side the big players meant I would have to stay awake all night awaiting to get the best possible entries.

This was affecting my day job so i had to stop-as my skills are not at the point yet where i would want to quit my day job.

Example trades

Trading the London or NY session is not an option for the long term at the time being.
So my answer to all of this was to man up and learn to trade whatever is happening during the Asian Session.

Also I decided to learn to trade following the "Technical Analysis Fallacy" teachings and the trading journal of the trader who i consider to have most impressive trading style i have seen "dongsky"

This is a trading style with NO Stop loss - that calls for feeling the pulse of the market rather than a fixed risk to reward ratio.

However the most important rule is preservation of capital.

At first I thought If i exploited a simple entry during the assian Session I could secure a few pips and move on to the next day.

So I attempted to trade the 2p2 entry from the trader RIFID and the entry from the M1 45 momentum ( fell in love with the template) during the Asian session but I crashed and burned really bad -- lost like 10 % of the account in one week.

Thats when I decided to learn to feel the market ( whatever that means to you) and someday trade like dongsky.

I have traded supply and demand and followed stop hunts for quite a bit now so even if i cant define what feel the pulse of the market exactly is-- I can say that I trade with that no indicator background.

Here are some example trades of the battlefield.

I am not quite confident yet where I would trade with no stop loss at all-- what I do is following attack sequence

All entries are made with no stop loss

attack x1 Scout .20 lots move to break even after 10 pips or so

attack x2 troops .30lots after I feel that the market is moving as I feel it. --move to break evenafterwards

attack x3 troops .5lots If im in sync with the market and it starts moving past the attack x2 i go full force with the last troops.

I am the General and babysit my troops until 12 am or so and afterwards close everything and let a scout run to where i feel the market will stop.


This is a 10k account so even if i was wrong in my entry it wont hurt the account that badly than say-- i was wrong and lost 2% over 5-20 pips.


There is a whole methodology to rescuing troops -- (hedging the position) to save the capital RULE #1-- i have not been in that situation yet

All trading done on the 1minute time frame.

Keep in mind I will deploy a scout and if it hits break even I look for another entry --

If I was actually fully trading with not stop loss I would not have opened as many trades-- The Trading Psychology is hard when there is no stop loss and the trade does a huge turn to the other side.


This is what the battle field looks like-- last 3 days:

Posting a blotter-- to remind me it is possible to make a living from this.

Today.....was Hard--
The 1 minute chart played to many tricks creating a lot of gaps between candles (bad broker feed?)
GBP/JPY acting weird in relation to the EURJPY moves

Price did a fakeout-- I maneuvered around this and entered long at the breakout pullback with higher lots in case price was continuing north-- Exited when I realized it was fake.

Closed 3 trades +96pips

Let my original scout open giving up 40 pips of profit for the chance that it might fill the gap below.


Done for today

Edit.. price opened with a huge gap as I was posting this.
Might kill my scout.. he will die with honor .

+172.6 pips

Done for today

Battle report

By the time I came home for trading, the markets had already moved over 100 pips during the Asian session. The markets were consolidating and a quick top down view of the battle grounds showed we were finally filling the GAP south.

However I was not sure when price would decide to move again, I marked an area with a blue line of where I would like to start selling if price got there.

I decided to get some quick pips and call it a day so I entered counter trend and deployed my battle troops in x1 x2 x3 formation, however price stopped 5 pips short of my level and did a full 180 on me.

The market had decided it was time to go south correlating crosses confirmed and I applied my contingency plan.
The buying troops were underwater and I had less than a minute to readjust to the market. --I was 77pips negative- My aim was to break even and save my capital. Rule #1.

I deployed a bigger battalion on that would make me break even quick. I added a few more troops and decided to call it a day at 2am.

-8.60 pips +3.23% account gain.

I should have traded the GBP/JPY as it moved in such a beautiful way in relation to EUR/JPY during my battle.

I like this quote


"Military tactics are like unto water; for water in its natural course runs away from high places and hastens downward. So in war, the way is to avoid what is strong and to strike at what is weak. Water shapes its course according to the nature of the ground over which it flows; the soldier works out his victory in relation to the foe whom he is facing."

Sun Tzu

Had some troubles last night- Went heavy on my troop rescuing and made some ridiculous % gain with the last sell (I dont like it as i dont feel it was realistic)

I am still learning the rescue part.

+49 pips

I shall attempt to follow Leighs Forex Spread sheet- Following the attack sequence form Hypothetical scenario 2.

I restarted my account and starting with a beginning balance of $1200


The attack sequences are quite heavy so a wrong decision will hit the account hard, I will have to get more precise entries and only add to my attack once the first trade is secure at break even. -- I broke that rule tonight however all of this is helping me define a list of rules.