Gejordan Weekly Journal

Nice job Scot!

One trade. Looked at a few shorts but was too conservative waiting for retraces.

kept the loss small... check
saw the action... check
take the other trades... believe in yourself and do it.

Got clear
EU short

2 trades on EURUSD

Got clear
3 trades.
EU on top
GU on bottom

I tried the same GBPUSD short as Mike's 2nd GBPUSD short. Similar result

3 trades.

looks to me like you had a chance for tp1/BE on that second GU and you went a little tight on that EU. I like that EU idea, but why close at that point, you survived the draw down, which then defined your risk, and nothing in the next 8 or 9 candles went after that area.

I don't think that could've gone more perfectly to our plan

Nice!

Got clear
3 trades
EU on top
GJ on bottom

Got clear
Short GJ
TP1 & running...
TP2 at recent lows

nice

Thanks!

Make sure to jot a note about these so you can remember what you were thinking when we do our next review.

First one I can live with, would have liked to see you keep going with it. (if you didn't retire for the evening)
Second one, i see what you are trying, but i think you made a poor decision based on the facts available to you

both small losses.. very good.

I have Tad and Mikepip on their own this week to see how they do based on what I have covered with them. Here is one from today that I took on GU to illustrate the fundamentals at work.



We have a range while I am sleeping. London gets going and we are in the middle of the range. We try never to trade from the middle of a range, so you wait. Price goes up, gives action. This is first action at a place, gotta make it retrace. It does about 30 minutes later and you can try the short. I missed that one.

Price heads down to the bottom of the range. At this point where i have the word "missed", there is a possibility that our range is going to now be an expanding range. To test that, you go long where I have the word missed, which means I missed it. The less risky trade is to see if price comes back in the original range, get long from as low as possible, and see what happens (got that one).

Now, I wanted to go long on this pair today, so you can see I went after the entire range for TP1 (46 pips) and we'll see if we can keep going tomorrow. No matter, it was a profitable trade any way you slice it, but it took preparing my chart, patiently waiting, price action to define risk, and pulling the trigger.

Mikepip and Tad are building their skill in seeing the chart right now with an introduction to trading what they see. I don't care as much about the results of their trade, what I want them to do is see the chart. They are improving leaps and bounds, and now understand where to trade from to get nice returns and smaller losses... and that is what is naturally happening.

But,coming into this little exercise, neither have had the success they hoped for and have been trading a long time. So, their brains have to believe that they can see a chart because their brains didn't believe that when we started. But their brains are getting on board. Yours can, too.