BB, MACD, and everything else where appropriate

Didn't see the candle and bb band formation on the 30... that means some upside...
The bias is still down.. though..
Especially with a retrace in progress on the 4 hour.

Drop the 400 already. I have to go the post office. But I want to watch.
Yikes it might not go until the market closes in 2 hours...

I don;t want to wait that long. Pretty sure it is good trace. But I'm going to close for a small loss
which what I am sure many traders are doing.
and once we all close our position because we are bored to death...
but don;t want to leave them unattended..
The prices will drop to the 400 bet you anything...

No actually I'm leaving it in. For goodness sake it is only a demo for training and educational purposes.
If it eats my lunch it's only a make believe lunch.
I just think I right about this. Nerve racking as it is.

Look at that....
tested resistance and dropped...
Is it enough to go all the way to the 400 in one swoop. That's usually what happens...

Come on down. Everyone's waiting for you..

Didn't touch the 400 here... but that is a little different that was a retrace in an uptrend.
This is an ongoing downtrend with MACD's on higher time frames rolling over.

Missed tp by .02 pips. Can you believe it!!
Got back from the post office and there it was..

It's not the quick pips trade that i had hoped for but looking at the day chart... going into consolidation.
The 1 hour has down side. Usually will pull back to the bottom bb band when closes down the 20
But I am wondering if this is not so much a matter of winning a trade as it is the psychology.
this may be feeding a bad habit.
Get in and if it doesn't go the way you thought, stay in and hope it turns around.
The trade did not go like I thought. It may continue on down the way I saw it later during Tokyo.
But then again it might not.
So will it hurt to take a loss for 3 pips? Not really...
Would it hurt to take a loss for 15 pips? Yes it would.
I;ve noticed this is the sure way to get the trade to go the way I saw it.
Just give up on it and sure enough a few minutes later it's on it's way.

It's is going to test the 400... probably during Tokyo.
Waiting that long is too long. I entered at 2 pm est... so 7 or 8 hours is too long to wait..
The markets are dangerous. Anything can happen. I like to trade during very active times, in and out in 15 mins more or less.
Damn it... Look at that. I knew. I was right...
It 7 hours.......

That was the 5 min...
It's going to test the 400 on the 15 minute too...

I'm taking this one.
I notice that on all the other time frames the 400 is higher than price.
This must mean this is the bottom when it tests the 400 on the 15 and then the up trend can begin without resistance.
This 400 sma is really something!!
For a strong uptrend the prices will then rise to test it on the other time frames and break through until all the 400smas are lower than prices
Then the process will reverse for a strong down trend.
If the trend is not so strong prices won't break through the 400 on all the time frames before reversing.
The 400 just behaves so uniquely.
The timing is just about right too.
During the Asian market it will stay down. Low
Then London open I think we will see upside.
I don't want to miss London tomorrow. I have to get up at 3 am if I want to be there for open.

In and out...
Take something out of the middle of the move.

MT4's time frames. All of them have prices trading below the 400 except for the 15 minute.
that's way oversold...
So the retracing will begin...
This is the short term bottom......

Or else it is a very strong down trend and if prices break through the 15 significantly then the downtrend will resume.
That's what I am seeing...

As much as I can gather about the trend... that will determine the direction of my trades during the day.

I really just need to know the direction for the day. This is the day chart. On a downtrend but MACD is looking like it wants to roll over.

I will need to stay in a trade longer to actually show a profit. Although the trades are good and I am learning how to recognize the opportunities there are not enough pips to see a profit over spread + commissions.

Today I am going to concentrate on more pips per trade. I might want to look at more pairs than the EURUSD just to be bale to get more practice in during the day.
When I enter a trade I need to know exactly why I am entering and exactly when and why I will be exiting.
I need to also consider how to use pending orders. But not too much at once. For now let me see how to get more pips.
The clock alarm went off at 3am but I just couldn't get up. Ended up staying up too late at night. 3 hours rest just wasn't going to be enough.
So that's part of trading too.
Up at 5 and London has been open for 2 hours.
No big data releases during London. Market drifting slowly higher.
Entered long on the 30 min set up.. for tp 10 at the 400.
MACD on all time frames are either up, turning up or rolling over.
Stop is below the recent swing lo test of the 20 on the 30 which was also a test of the 400 on the 5. So there is confirmation of support there.

One of the biggest problems has been when markets change from trending to consolidating. A strategy that works for trending doesn't work for consolidating and vice versa. any gains made with a trend are given back plus some during consolidations and not being able to tell when the markets changed soon enough, missing the good entry for a trend and entering incorrectly at the start of consolidation. Very frustrating.

But using this strategic overlay and that solid gold 400 sma I can trade in any market.
The 400 tells me.
If trading is bouncing around the 400 its consolidation if it is far away it is trending... at least on that time frame. Then checking higher and lower time frames for the position of the 400 I can tell if there is a trend and if it is still very strong. Macd confirms..
Postion of prices to the bb bands and the 20 tells me good entry points.

If prices close like this for the week then upside is indicated for the next little while. The market prices in expectations. There can always be a complete surprise... That's one of the reasons there are stops. But for the most part the market is going where it "expects" the economies will go.

I'm going to open multiple positions. If there is pullback and I believe the tp is still valid. I'm not sure why but mt4 won't let me set different stops and tps for different positions. Is that some US regulations? Or is it a bug in mt4. Can't imagine why it would be a regulation. Never heard of it. When the most recent one goes positive I'll try to close it. That will tell me if FIFO rules the demo. When I start trading for real it won't be under US regulations. This this demo is under FIFO rule. Total nonsense. FIFO. Only the government and the big banks get freedom to trade with our money. I'm going to open an mt4 using an non-US address. The US is a mess and becoming more of a mess every day.
As for multiple positions... a really good thing is net gain. So if some of buy entries were a little too soon and at a high point, even though the general direction was right... the sum total of the trades is there for net gain.
Or tp can just be a net gain target so if some of the positions are small losses it's fine.

Now here's the really hard part. Do I have enough faith in the strategy and my application of it to stay in it now that it is showing a little gain? Or will I get cold feet and jump out with whatever gains I have made only to see it reach the tp for huge gain. Sometimes after atrade goes wrong I see what the signs were that should have let me know before hand if I had only taken notice of them.

I don't see anything on the time frames that would indicate the trending is through. Like this 15 minute screenshot. MACD is trending... price in relation to the bb bands is strong. It jumped up to net gain 15 pips and I had all I could do to keep myself from closing. Of course now it is pulling back. Can expect falling back at least to the 20 on the 5 min.
yup there it is back to 20 on the 5 min.
practice practice practice...

Only 5 min into the 30 candle but is this pullback time? Is it the top forming.
US open an hour and half and strong US data 2 hours. does it stall out here? And reverse on news.
A double whammy durable goods and unemployment...
Everything says up. Strong EURO indicates risk on which means positive data. The flight to safety is traditionally the USD.
Keep that 400 on the horizon... It's like magic.
The 4 hour macd getting ready to test 0 headed up..
resuming uptrend from a pullback to the 20..