Goon's trading journal

[aliassmith]

No trades on Thursday.

3 trades on Friday.

2 wins and 1 BE.

1211-EU.png

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.

Yes M5 is a nice daytrading chart. M1 is also nice but doesn't work great on everything in my opinion. If you have 2 min or 3 min they can also look nice.

I do reference higher TF looking for points of interest. I don't typically trade them.

[kiwiarian]

No trades on Thursday.

3 trades on Friday.

2 wins and 1 BE.

1211-EU.png

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.

Yes M5 is a nice daytrading chart. M1 is also nice but doesn't work great on everything in my opinion. If you have 2 min or 3 min they can also look nice.

I do reference higher TF looking for points of interest. I don't typically trade them.

How does the 1m fare on the EU as I think I recall seeing some 1m charts on your thread?

[aliassmith]

EU and 1 minute are nice if you know what you are doing. Need higher lvl targets because 2 and 3 pips is hard to maintain. It can be lucrative if you trade RR.

If 2 pips SL = 1% you can rack up some %.
EU has some nice 3R to 5R moves
$800 to $1000 a pip is nice.

[Goonslinger]

4 trades today - 1 winner, 1 loser 1 partial win and 1 BE

1411-EU.png (118.12 KiB) Viewed 6267 times

1st trade - Initially started looking at 30m TF but it looked like I had missed the trade so dropped to the 5m. Price pulled back and saw some nice wicks and decided to pull the trigger. Managed to get ~2.5R.

2nd trade - Price formed double top at high of Asia session and started to collapse. Didn't jump in til price dropped below the bias MA. Ended up only getting 1R as I was trying to push for 3R but price turned around.

3rd trade - There was a momo on the higher TF and so I waited for a pullback. It looked like price was going to jump again so I entered a trade to be stopped out pretty quickly. I did notice it formed an inverted H&S but I wasn't able to take the trade at the time.

4th trade - Decided to jump in to see the inverted H&S to the end but moved to BE too quickly and got stopped out.

[Goonslinger]

EU and 1 minute are nice if you know what you are doing. Need higher lvl targets because 2 and 3 pips is hard to maintain. It can be lucrative if you trade RR.

If 2 pips SL = 1% you can rack up some %.
EU has some nice 3R to 5R moves
$800 to $1000 a pip is nice.

$800 to $1000 a pip would be a dream come true

I'm not sure I can really imagine being in that position. It feels like that's a million miles away, especially as I'm only trading for pennies at the moment.

Thinking about that some more...you made about 47 pips today. So at $800 a pip that's $37,600! You've made almost as much as I make in a year in one day. Absolutely bonkers!

[aliassmith]

EU and 1 minute are nice if you know what you are doing. Need higher lvl targets because 2 and 3 pips is hard to maintain. It can be lucrative if you trade RR.

If 2 pips SL = 1% you can rack up some %.
EU has some nice 3R to 5R moves
$800 to $1000 a pip is nice.

$800 to $1000 a pip would be a dream come true

I'm not sure I can really imagine being in that position. It feels like that's a million miles away, especially as I'm only trading for pennies at the moment.

Thinking about that some more...you made about 47 pips today. So at $800 a pip that's $37,600! You've made almost as much as I make in a year in one day. Absolutely bonkers!

Its a process.

1.Demo trade and learn to make money with good money management.
2. Dont look for the holy grail it doesn't exist.
3. If you think you are good take a free evaluation with FTMO or whoever.
4. If you pass it a few times, take the $5000 challenge at MFF
5. Use the profits from the $5000 account to fund any other evaluation.
6. Put a portion of your profits towards a personal account as a backup plan.

[Don_xyZ]

4 trades today - 1 winner, 1 loser 1 partial win and 1 BE

1411-EU.png

1st trade - Initially started looking at 30m TF but it looked like I had missed the trade so dropped to the 5m. Price pulled back and saw some nice wicks and decided to pull the trigger. Managed to get ~2.5R.

2nd trade - Price formed double top at high of Asia session and started to collapse. Didn't jump in til price dropped below the bias MA. Ended up only getting 1R as I was trying to push for 3R but price turned around.

3rd trade - There was a momo on the higher TF and so I waited for a pullback. It looked like price was going to jump again so I entered a trade to be stopped out pretty quickly. I did notice it formed an inverted H&S but I wasn't able to take the trade at the time.

4th trade - Decided to jump in to see the inverted H&S to the end but moved to BE too quickly and got stopped out.

Dunno what your back bone tf is but this might be good too.

1411-EU.png (129.97 KiB) Viewed 6202 times

Black boxes are levels of interest.
Red boxes are targets.

[kiwiarian]

4 trades today - 1 winner, 1 loser 1 partial win and 1 BE

1411-EU.png

1st trade - Initially started looking at 30m TF but it looked like I had missed the trade so dropped to the 5m. Price pulled back and saw some nice wicks and decided to pull the trigger. Managed to get ~2.5R.

2nd trade - Price formed double top at high of Asia session and started to collapse. Didn't jump in til price dropped below the bias MA. Ended up only getting 1R as I was trying to push for 3R but price turned around.

3rd trade - There was a momo on the higher TF and so I waited for a pullback. It looked like price was going to jump again so I entered a trade to be stopped out pretty quickly. I did notice it formed an inverted H&S but I wasn't able to take the trade at the time.

4th trade - Decided to jump in to see the inverted H&S to the end but moved to BE too quickly and got stopped out.

Dunno what your back bone tf is but this might be good too.

1411-EU.png

Black boxes are levels of interest.
Red boxes are targets.

Thats a cool / confident way of setting some targets up, those areas were just from this chart I take it?
The black boxes are they a Sam Seiden S&D type setup?

[Goonslinger]

Ooof. Busy week.

Tues:
1 trade, 1 win.

1511-EU.png (125.67 KiB) Viewed 6050 times

Price broke above previous days highs and jumped in at the first opportunity I got. Easy ~2R.

No trades on Weds.

Thurs:
2 trades, 1 partial loss and 1 win.

1511-EU.png (125.67 KiB) Viewed 6050 times

1st trade was a mistake. The entry candle was much too big but after seeing the momo just before it I thought we might be going to the moon. After seeing it falter at the daily, I decided to close it after the big red candle (~-0.5R).

2nd trade was taken after price broke below bias MA and failing to close above the daily. Targeted the low that you can just see on the 16th for roughly ~3R.

(Note: I can't remember when I drew the trend lines but I'm pretty sure it was on friday so they wouldn't have been on my mind at the time)

Friday:

2 trades, 1 loss and 1 win.

1811-EU.png (164.89 KiB) Viewed 6050 times

1st trade was taken in anticipation that price would break above the bias MA after breaking above the daily open. Target was around the daily high at the time but it was just out of reach and ended up taking a loss. Plenty of opportunities to exit with something but none were taken.

2nd trade was similar to the first one but target wasn't as far this time (~1.9R). The entry after the red candle looked like a FTR/bullish 180.

It was clearly ranging in the morning but I'm currently loathe to trade against the bias MA. It's definitely a crutch for me atm but I think at the moment it will help to avoid some silly trades due to flawed reading of PA.

FYI: Horizontal black lines are daily opens and the blue line is weekly open.
The shaded blue boxes are s/d zones drawn from 4H TF.

[Goonslinger]

EU and 1 minute are nice if you know what you are doing. Need higher lvl targets because 2 and 3 pips is hard to maintain. It can be lucrative if you trade RR.

If 2 pips SL = 1% you can rack up some %.
EU has some nice 3R to 5R moves
$800 to $1000 a pip is nice.

$800 to $1000 a pip would be a dream come true

I'm not sure I can really imagine being in that position. It feels like that's a million miles away, especially as I'm only trading for pennies at the moment.

Thinking about that some more...you made about 47 pips today. So at $800 a pip that's $37,600! You've made almost as much as I make in a year in one day. Absolutely bonkers!

Its a process.

1.Demo trade and learn to make money with good money management.
2. Dont look for the holy grail it doesn't exist.
3. If you think you are good take a free evaluation with FTMO or whoever.
4. If you pass it a few times, take the $5000 challenge at MFF
5. Use the profits from the $5000 account to fund any other evaluation.
6. Put a portion of your profits towards a personal account as a backup plan.

Thanks, Alias. I hadn't heard of MFF before and was going to try an FTMO challenge in the new year. I'll switch to MFF as the passing requirements are easier.

Dunno what your back bone tf is but this might be good too.

I'm trying to use the 4H as my backbone TF but in all honesty when I switch from 1 TF to another I tend to lose whatever perspective/context I got from the higher TF. Not sure why that is but I'm hoping with time that goes away with time.