Compound

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Personal Journal
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Journal start date; 23/11/2016
Capital; 297

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Personal Journal
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Indicators; •Volume •EMA[14/50] •Pivots
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Stop Loss moved to Breakeven
Breakeven hit after bouncing off inverse fibonacci 61.8%

28/11/2016
USD/JPY Long
18:28
-22/+44 1:2 R/R
Only issue is that the J hook isn't bait. It's a one bar J hook.
SL Hit
Only take bait J hook trades + Buy Low Sell High only. Avoid mid range.

01/12/2016
NZD/USD Long
02:07
-22/46
SL 10 pips below standard SL [Stop hunt may be inc]
5 Min standard rules

I got slapped by the stop hunt I was trying to avoid
Could have got another entry off the stop hunt bottom

06/12/2016
CAD/JPY Long
16:13
-18/36
Buy Low
5 Min standard rules - AR BO based on close and not high. If this trade goes wrong I'll know to enter on AR BO H/L
An entry (I missed) was provided yesterday but it seems markets testing support today so I've entered

Breakeven hit. All my breakeven trades seem to touch inverse 50 and then shoot against me.

Post Trade

Although break even was hit, post trade I realized it was just a arch test ..... a s*** reason to exit the trade. It's usually a conservative entry which I should have watched out for

07/12/16
GBP/JPY Short
14:39
-8/+8
Reduced Risk - First Scalp trade using 5 min arch buildup technique
Exit inverse 61

Post Trade
Well, TP hit but I didn't think the spread would f*** me up like that.
Gotta keep that in mind next time I'm scalping.

Loved how I didn't have to wait 10 hours to get my profit done, might practice this more on lower risk.
Will reread Bob Volmans book on 5 min chart techniques.

07/12/2016
NZD/USD Short
18:07
-14/14
Standard entry, ranging, sell high, 1 hour res, SV up top, 5 min shows SV decline + AR BO

Post Trade
SL hit, once again, the inverse 5min 50 was touched and then reversed on.
Here on out, I'm breaking my position into two, taking profit at first inverse 50, and then letting the second one run @1 hour TP's

I also remember reading something about triple bottoms + gap up / high volume on third touch = Genuine reversal / Accum||Distrib. This was present in the last two trades before they turned on me. Maybe I should keep this in mind next time I see this.

Took trade last night
Two mistakes - SL placement according to my system should be on H/L, I tested on a tighter SL - didn't work out. Secondly, even if the SL was placed right, I would have been taken out by inverse 50, fourth time this has happened. I think the main reason I'm getting hit by inverse 50 is because of my weak 1 hour analysis which I need to improve. If i see 5 min SV I that doesn't show up on 1 Hour, it probably will work out but only up to inverse 50. The TP's that I currently use would work on a strong background only, not with what I'm doing.

I've also decided to clean up my chart, and only use Vol + Pivots from now. I may still use RSI for the standard trending AR BO Divergence trades though, but those seem to rarely happen.

Another exit idea might be to take multiple positions and exit each one at each zone that might meet with high vol [ = Struggle to continue, especially if with negative result] - Backtesting this turned out to be true, all the inverse 50's were against 4 Hour trend. If i use this filter I'm sure I could have prevented nearly all my losses

I've also learnt that 1 Hour SV's that appear to be Yosens/Insens with a negative result may be retested before shooting off. Candles that close half way though + negative result may shoot off immediately.

Thought - Maybe check 4 Hours chart to check overall trend - EMA slope may help with if trending or not. This way, even if 1 Hour chart is ranging, I can focus on either only going long / going short only, based on 4 Hour direction. If 4 Hour is ranging too - then we truly have a ranging playground. If both are trending the same, we go all or nothing. If either one is ranging, we have to throw in multiple positions and exit each at each possible S/R

Lower prices without intercepting volume may not reverse i.e. at Fibonacci. Therefore, when reaching a reversal zone, even if prices bounce off [i.e. 5 mins backtested] It may retest until a 'rally ender' appears which must be an obvious one. - Screenshot attached x2. I think this is also known as retesting, where if the lowest reversal point doesn't have high volume, it will retest until the volume shows up at the lowest point. I think the demo account may make this easier to spot as the SV bars really stand out

The system will remain the same, but it appears I'm using a pistol in an open field, and a rifle in close up range. I need to improve my 1 Hour analysis + separate trending rules + ranging rules. Entries are good, exits are really bad.

Hmmm