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Gejordan Weekly Journal

  • #161
  • May 18, 2016 6:52am May 18, 2016 6:52am
I laughed. Then I said to myself there's more tomorrow.
  • #162
  • May 18, 2016 10:24am May 18, 2016 10:24am
I want to be an open book so we are able to pinpoint my issues clearly. So when I miss trades like that sure I get a little bummed but I also remember that my plan was correct. Up until about a year ago that would have gotten under my skin and eventually caused me to make bad decisions to try and get what I missed. Now I take it in stride.
  • #163
  • May 20, 2016 9:58am May 20, 2016 9:58am
Trade 12
Long GJ
I liked that the weekly pivot was holding, but my entry could have been better.
After it didn't push, and even bounced off the weekly again, I got out for b/e.
Attached Image (click to enlarge)
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  • #164
  • May 20, 2016 10:59am May 20, 2016 10:59am
Quoting mikepip
Trade 12 Long GJ I liked that the weekly pivot was holding, but my entry could have been better. After it didn't push, and even bounced off the weekly again, I got out for b/e. {image}
as you know, your entry was in the middle of a possibly new established range. I would rather hear you saying that you exited because you knew that you would have to take on too much risk to see if this was going to work. Not failure to push. Do you see the difference in the type of trader you would have to be to have the first terminology versus the terminology you used?
Be bullish on you.
  • #165
  • May 20, 2016 11:05am May 20, 2016 11:05am
Quoting gejordan
{quote} as you know, your entry was in the middle of a possibly new established range. I would rather hear you saying that you exited because you knew that you would have to take on too much risk to see if this was going to work. Not failure to push. Do you see the difference in the type of trader you would have to be to have the first terminology versus the terminology you used?
Yes! The type of trader I plan to be more like next week.
I think it goes back to getting the entry I want based on risk versus not wanting to miss a trade.
  • #166
  • May 27, 2016 12:10am May 27, 2016 12:10am
Trade 13
GJ long
Best to have waited for a lower area.
Attached Image
  • #167
  • May 28, 2016 3:04am May 28, 2016 3:04am
Quoting mikepip
Trade 13 GJ long Best to have waited for a lower area. {image}
1. why would it have been best to wait for a lower area?
2. give me some analysis on this one versus the trade in post 130
Be bullish on you.
  • #168
  • Edited 3:04pm May 28, 2016 2:08pm | Edited 3:04pm
Quoting gejordan
{quote} 1. why would it have been best to wait for a lower area? 2. give me some analysis on this one versus the trade in post 130
1. I said this in hindsight, but at the time, i saw m15 make a db, then push higher. So i fibbed the move and traded at the 61.8. Seemed sensible. Now from a higher timeframe look, price held the recent highs, and the MR1. So it was more 50-50 of a trade.
*Edit - more simply put - price held the daily pivot, pushed down, then retraced up and failed the pivot again. So based on that, shorts were in play. A long was sensible at bottom of channel (recent lows).

2. Now the analysis is above, but in reference to the trade from post 130, they both were successful when traded from a lower confluenced area. Trade 130 bounced off of 127 extension, and held Y low. The recent trade had retraced to a logical place based on m15 (61.8 fib retrace).

I felt they were both not the greatest of trades, however, I also am challenged sometimes seeing similarities and differences from one trade to another...
Perhaps this is due to complicating things...when I have daily pivots on a chart, with s/r lines, and trendlines, y low...then another chart with htf pivots, perhaps the large amount of info creates too much confusion in my decision making.
OR perhaps I am not consistent in using the information each time I analyze my charts.
  • #169
  • May 30, 2016 5:48pm May 30, 2016 5:48pm
Remarks below in blue, not just comments for Mikepip, believe them to be useful for anyone and everyone.

Quoting mikepip
{quote} 1. I said this in hindsight Point #1, don't quick or flippantly critique in hindsight, instead, give it a while and then try to get to the type of commentary you wrote after the word "edit" below, but at the time, i saw m15 make a db, then push higher. So i fibbed the move and traded at the 61.8. Point#2 - Don't get locked in on one thing and miss the other thing. Seemed sensible. Now from a higher timeframe look, price held the recent highs, and the MR1. So it was more 50-50 of a trade...*Edit - more simply put - price held the daily pivot, pushed down, then retraced up and failed the pivot again. So based on that, shorts were in play. A long was sensible at bottom of channel (recent lows)..
2. Now the analysis is above, but in reference to the trade from post 130, they both were successful when traded from a lower confluenced area. Trade 130 bounced off of 127 extension, and held Y low. The recent trade had retraced to a logical place based on m15 (61.8 fib retrace).

I felt they were both not the greatest of trades, however, I also am challenged sometimes seeing similarities and differences from one trade to another...
Perhaps this is due to complicating things...when I have daily pivots on a chart, with s/r lines, and trendlines, y low...then another chart with htf pivots, perhaps the large amount of info creates too much confusion in my decision making.
OR perhaps I am not consistent in using the information each time I analyze my charts.
First - What I was going for here is that I wanted you to see the similarity, i.e., the amount of risk you took. I am going to take an early guess and say this is a major contender for your issue we are trying to fix. Your gambling on high "raw risk" trades and when you hit the cold streak, you give it away. But clues existed in this example set of trades to avoid that.

Second - You seem to zoom into details instead of notice the concepts when I am asking you questions. When you tell me about the trades here, you mention all these things you are looking at, extensions, pivots, etc., and giving me very little on the simplistic movement of price.

So, let's focus on ________ first, and then if price isn't going how we want it to go in the short term, let's take ________. (you fill in the blanks)
Be bullish on you.
  • #170
  • May 30, 2016 11:17pm May 30, 2016 11:17pm
Thanks for this post, G!
So much here to digest for me.

I went back and looked at trades for the past 3 months, and began to see the truth of the large losses. My brain was saying, no, you don't do that much. But, the handful of big losses I take are big enough to wipe out weeks of small profits.

As for me focusing on the details instead of the concepts...I have to work on that. But being aware I can now look to price movement (reading the charts) first.


So, let's focus on direction/price action first, and then if price isn't going how we want it to go in the short term, let's take a new (longer term) perspective.
  • #171
  • May 31, 2016 1:00am May 31, 2016 1:00am
Trade 14
Short GJ

Price pushed up into nice resistance area and rejected strongly.
I missed the retrace back up to r1 for a short but when price
attempted another retrace and rejected/closed under today's open,
I jumped in. Took tp1 at as close to the 50 as I could.
Tp2 at the pivot (possible support).
Attached Image
  • #172
  • May 31, 2016 5:07am May 31, 2016 5:07am
Quoting mikepip
Thanks for this post, G! So much here to digest for me. I went back and looked at trades for the past 3 months, and began to see the truth of the large losses. My brain was saying, no, you don't do that much. But, the handful of big losses I take are big enough to wipe out weeks of small profits. As for me focusing on the details instead of the concepts...I have to work on that. But being aware I can now look to price movement (reading the charts) first. So, let's focus on direction/price action first, and then if price isn't going how we want it...
you got the first part of the fill in the blank:
1. movement of price
The second part was supposed to be:
2. LESS RISK

As for today's trade... nice. Chart should look familiar, its exactly the two charts we have been studying. You noticed the failure to progress upward, went with the short term move that had low risk (stop would be above setup, not all the way to the top, because at that time the main move was still up, but the short term was down.)
Be bullish on you.
  • #173
  • May 31, 2016 11:45pm May 31, 2016 11:45pm
Quoting gejordan
{quote} you got the first part of the fill in the blank: 1. movement of price The second part was supposed to be: 2. LESS RISK As for today's trade... nice. Chart should look familiar, its exactly the two charts we have been studying. You noticed the failure to progress upward, went with the short term move that had low risk (stop would be above setup, not all the way to the top, because at that time the main move was still up, but the short term was down.)
Movement of price and less risk. Agreed!
  • #174
  • Jun 1, 2016 11:12pm Jun 1, 2016 11:12pm
Trade 15

Price bounced off the 157 area and got up to about 157.70.
Upon return up to this area, it met with some resistance so I shorted off m5 action.
Got a TP1 and b/e.
Attached Image (click to enlarge)
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  • #175
  • Jun 1, 2016 11:34pm Jun 1, 2016 11:34pm
Trade 16

When price again failed to push higher than this area and gave another m5 action,
I tried a short.
TP1 and stop to b/e... just got knocked out...
Attached Image (click to enlarge)
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  • #176
  • Jun 3, 2016 7:22pm Jun 3, 2016 7:22pm
Quoting mikepip
Trade 16 When price again failed to push higher than this area and gave another m5 action, I tried a short. TP1 and stop to b/e... just got knocked out... {image}
Good job Mikepip... How is the account doing over the course of the 16 trades so far? Some better looking trades. Less risk on these last 3, although this last trade was a bit trickier than it might seem at first glance, but you took a low risk option. Also seems you caught a repeating pattern and took advantage while it was doing it. nice.
Be bullish on you.
  • #177
  • Jun 3, 2016 7:27pm Jun 3, 2016 7:27pm
So, let's focus on movement of price first, and then if price isn't going how we want it to go in the short term, let's take less risk.

If anyone else is following along, does the above sentence make sense and can you see how it will help mikepip decrease the size of his losers in the examples we were talking about? He really doesn't have to change anything, he just has to be willing to miss if things aren't going the way he wants in the short term, but it also gave him an additional option to try and exploit the short term move if he wants while waiting for the bigger term move to resume. And it is not going to eliminate losers, but it reduces the size of them, and that is massively important.
Be bullish on you.
  • #178
  • Jun 4, 2016 2:10pm Jun 4, 2016 2:10pm
Quoting gejordan
{quote} Good job Mikepip... How is the account doing over the course of the 16 trades so far? Some better looking trades. Less risk on these last 3, although this last trade was a bit trickier than it might seem at first glance, but you took a low risk option. Also seems you caught a repeating pattern and took advantage while it was doing it. nice.
The account has been on a steady climb. Aside from the circled big loss, things are moving in the right direction. Now that you are helping me to have a clearer perspective on this issue, I look forward to the next few weeks of potential growth.
As for the last couple trades I took at that top area, yes the last one again pushed above the 50, further holding that area just below the 50. It also made a hl.
My decision to try it "again" was the resistance just to the left was still in tact, and a low risk action as you said...

Attached Image (click to enlarge)
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  • #179
  • Jun 5, 2016 7:10pm Jun 5, 2016 7:10pm
Hi GE,

Checking back in. I am going to take trades on daily and weekly. Won't make any decisions on lower time frames than that. Will post trades and the rationale hopefully get some insights into my thought process and areas I need to address.
  • #180
  • Jun 6, 2016 5:17am Jun 6, 2016 5:17am
Quoting gejordan
If anyone else is following along, does the above sentence make sense and can you see how it will help mikepip decrease the size of his losers in the examples we were talking about?
It makes sense and it's something I need to do myself as well.
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