Goon's trading journal

[Goonslinger]

No trades today.

0211-EU.png (78.18 KiB) Viewed 6379 times

I was initially tempted by the long after bounce off the daily and what looked like a mangled head & shoulder (QM?) which would have worked out. Second trade that tempted me was the pin bar which zeroed out/hit the top of the FVG I had marked on the 4H and failed to close above what was the daily high at the time.

However, in both cases they were against the bias MA and there was big news for the US today so ultimately decided not to take either. Well...that and the fact that previous attempts at reading PA didn't work out so thought "better safe than sorry".

0211-EU-4H.png (74.58 KiB) Viewed 6379 times

Looks like price might be looking to zero out that momo.

I wonder if it would be worth place a limit near the prev. weeks open. Price might wonder back there over night...

[Goonslinger]

No trades today.

EU sank like a rock and I didn't find any opportunities on the 30m (as far as I could see). It also zeroed out that momo a lot quicker than expected.

0311-EU-4h.png (81.67 KiB) Viewed 6344 times

I did notice just now that if I drawn a fib between the FVG on the big red candle on the 4H TF, price wicked the 50% and then fell back down. In hindsight, that could have been my opportunity.

0311-EU-30m.png (64.17 KiB) Viewed 6344 times

I'm going to have to look at more than 1 chart for opportunities. 30m seems to be working well as far as not getting too distracted at work. I can pretend I'm using the Pomodoro Technique - https://en.wikipedia.org/wiki/Pomodoro_Technique

[Goonslinger]

No trades yesterday.

0511-EU.png (62.72 KiB) Viewed 6317 times

Missed the opporunity here but I guess that's a good thing as I would have been stopped out.

[aliassmith]

No trades yesterday.

0511-EU.png

Missed the opporunity here but I guess that's a good thing as I would have been stopped out.

Ya Non-Farm Payroll Day can be a problem.

[Goonslinger]

One trade, exited with a small loss.

0711-EU.png (66.74 KiB) Viewed 6258 times

This was quite silly really. I didn't take the initial candle at London Open as the bar looked a bit big to me and when I did get an opporunity at 12:30 I closed after the next candle formed a pin bar. My assumption was that price would not break 1.0000 today and that this was an indication of that. There was also the pin bar earlier that gave me that impression too.

In hindsight, I can see that price was not closing lower than anything therefore there was no reason to exit. It also retested the area it broke out of. I probably shouldn't think about each individual candle too much as a) I spook easily (atm) b) I clearly can't read PA well.

Pretty frustrating noticing this all after the fact. It's very easy to tunnel vision and miss the bigger picture...

[Goonslinger]

2 trades, 1 win and 1 loss.

0811-EU.png (68.95 KiB) Viewed 6232 times

First trade was taken as the close seemed pretty strong after seeing the 2 longish wicks in the previous bars. Price had also dropped below the bias MA and the lower MA. Target was the weekly open from 2-3 weeks ago. I should have bailed (as I had yesterday) after the close against me for a small loss. Looking at it now it pretty much ZLed where I entered yesterday so that should have been a big clue had I noticed it at the time.

Second trade was after the close above the bias MA and upper MA. I really shouled have added after that big wick too.

There may be another entry now but I've marked up that area as potential supply so maybe I'll wait and see what happens tomorrow morning.

[Goonslinger]

2 trades, 1 loss and 1 partial (win).

0911-EU.png (83.59 KiB) Viewed 6177 times

Initial trade taken after candle croke above daily and upper wick. Definitely should not have taken it as the candle was pretty big. I shall have to define what "big" is as a % of ATR.

Second trade taken after price broke below bias MA and lower MA. Moved the trade to roughly 1R as it was approaching the TP. Not sure what happened at 1500 UTC but price decided follow the cow and jump over the moon. That candle was pretty big too. I think the proper entry would have been the red candle 5 candles later - it may have *just* hit TP.

https://www.youtube.com/watch?v=JdVrw4gdkhI

[Don_xyZ]

2 trades, 1 loss and 1 partial (win).

0911-EU.png

Initial trade taken after candle croke above daily and upper wick. Definitely should not have taken it as the candle was pretty big. I shall have to define what "big" is as a % of ATR.

Second trade taken after price broke below bias MA and lower MA. Moved the trade to roughly 1R as it was approaching the TP. Not sure what happened at 1500 UTC but price decided follow the cow and jump over the moon. That candle was pretty big too. I think the proper entry would have been the red candle 5 candles later - it may have *just* hit TP.

https://www.youtube.com/watch?v=JdVrw4gdkhI

Big engulfing candle (tsutsumi) is good both as a barrier (when price come back to test it later) and as for entry. For entry though, do not take it as is because of its size, obviously, but rather, enter after the price test it on the next candle or two. It's a bit of a training at first but you'll see the benefit. Also, it tends to attract more tsutsumi later on. Oliver Velez stats this already (forgot how much it is in %, just check his vids list on YT).

[Goonslinger]

Thanks Don, I'll check it out. I definitely do need to work on the entries as they leave a lot to be desired.

[Goonslinger]

No trades on Thursday.

3 trades on Friday.

2 wins and 1 BE.

1211-EU.png (74.81 KiB) Viewed 6073 times

Switched to the 5 min chart on Friday as I had a bit of time to spare and the 30m entry had been missed. Ended up doing reasonably well.

1st trade was taken early but took it as it look like it was retesting the high it had broken out of. Mangaged to get ~4.5R which was very nice for me.

2nd trade was a standard entry although I could have taken it in the previous candle as a retest (as above) and ended up moving to BE when I saw the pin bar form. Though that perhaps price wouldn't break that level.

3rd trade was just mean to be a quick 1R scalp which worked out. I wish I had stayed in it now after seeing how far price went

Smaller TF is quite nice. In future I shall try to switch to it whenever I have time.