I will be posting my trades.
I mainly use S/R, S&D, and QM pattern + Flip
I mainly use S/R, S&D, and QM pattern + Flip
- #2
- Edited 9:24am Feb 9, 2017 8:00am | Edited 9:24am
Trades I'm currently in:
EURUSD
[UPDATE] First target reached.
GBPNZD
[UPDATE] I closed both positions because of that strong bullish candle.
AUDUSD
EURJPY
[UPDATE] Both targets were hit
AUDCHF
EURUSD
[UPDATE] First target reached.
GBPNZD
[UPDATE] I closed both positions because of that strong bullish candle.
AUDUSD
EURJPY
[UPDATE] Both targets were hit
AUDCHF
- #8
- Edited 5:35pm Feb 9, 2017 10:30am | Edited 5:35pm
CHFJPY
[UPDATE] I got stopped out because of spread (seems like at this point). It looks like a wolfe wave. Its possible that this is the last wave before breaking the channel. We will see. Not trading that though.
[UPDATE] I got stopped out because of spread (seems like at this point). It looks like a wolfe wave. Its possible that this is the last wave before breaking the channel. We will see. Not trading that though.
Hi JAKammus, Thanks for the journal, Hope to see the market how you do. Can you tell me a little about your daily routine. Are you finding the QM's/DM's in m15 and above then checking the HTF for supply Demand or S/R or are you setting alerts at S/D and waiting on the patterns for confirmation?
Its everything there essentially. I think the only thing I didn't add there was the QM really, because its straight-forward.
After that, you can just create your own rules for entry and exit. Make it as mechanical as possible to remove emotions. There are some setups I find that I'm almost sure it won't make it, but I still enter. Its part of my rules so I stick to it. Consistency is the key, and that is a good way of training.
There is no right way of seeing the market. I tried different systems that didn't work for me. It doesn't mean it doesn't work though. Slowly I built my own way which fits my personality.
This image is from the thread I posted. Can you find the supply area? Look for big movement. Big movement = Lots of sellers or buyers.
Some people are left behind so there will be open orders there most probably. Later you will see that there is a channel consuming those left orders. price moves away and creates a QM (after the the image). It fails. Of course it fails, the orders where consumed. Would I have entered that QM? YES. my RR would have been 4:1. My lost would have been minimum. After the failure what happens? A flip. You can read that on the Quidsey's thread.
If you want to learn all that I recommend you reading those threads below. All I know I learned from reading those threads. Every time they teach you a concept, go back to their charts and look for those concepts.
http://www.forexfactory.com/showthread.php?t=529372 - Simond2002 seems to be a great trader. His advice is straight to the point. No BS terminology. He post trades before it happens. Win or lose, that is how it should be.
http://www.forexfactory.com/showthread.php?t=444458 - Quidsey also posted trades before they happened. I learned QM with him basically.
http://www.forexfactory.com/showthread.php?t=230888 - Redsword is probably the best trader in FF. His thread is a bible. I read every single post. Still go back there from time to time to revise his charts. Its funny how you see things clearly after a while.
http://www.forexfactory.com/showthread.php?t=402253 - Mr. Pip is a great trader too. I started my journey in price action using the things he posted on his thread.
If I could give you ONE advice: Stay away from indicators. I personally use nothing other than price action. There's no free lunch. You want to eat? Learn how to catch the fish.
UPDATE - EURUSD My second target is just about to get hit but I decided to move the TP down. It seems like EURUSD is very bearish at the moment. We will see. At the moment we have a 7:1 RR trade 20170209_001_EURUSD_End.PNG;2182529 {image}
Very Nice. Getting good risk reward has to make the overall process easier.
This was my only trade today. Getting some practice in.
