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
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.
