West's Trading Journey

[MightyOne]

Update:
I traded thursday night and friday. I made them into tough sessions, and I did not come out on the positive side. Three of my losing trades below.

Week in Review:
Overall I made +53 pips for the week. (Total 37 trades came out to be: 13 wins, 9 losers, 15 B/E)
The "15 B/E" trades I had last week are really making me think. Usually I move my stop to B/E after being up 5-9 pips, so this is making me re-look at that strategy.

Going forward:
Go back to a few clear setups/strategies (no "throwing darts" mode - see Friday trades below...)
Keep the stops small 10-12 max.
Slow down, execute as Best I can.
Stay away from GJ pair (spread too big)
Review my trades. {If I can't figure out from looking back at a trade on why I entered, I am just throwing darts. I need to know why I clearly entered.}
Keep doing the weekly stats, it really helped to look back and see what the heck I actually did in retrospect.

Looking forward to a new week. All the Best!

If your goal is to make more money then you need to buy more or if your goal is to lose less then you need to take profit.

A stop loss is not a tool for making more money nor is it a guarantee of limited losses.

Knowing why I entered:
1) my bias is to go short
2) price touched something lower &/or is currently lower than a line.
3) price is between two lines that I consider to be acceptable prices to go short

reasons.png (17.54 KiB) Viewed 3175 times

[aliassmith]

Update:
I traded thursday night and friday. I made them into tough sessions, and I did not come out on the positive side. Three of my losing trades below.

Week in Review:
Overall I made +53 pips for the week. (Total 37 trades came out to be: 13 wins, 9 losers, 15 B/E)
The "15 B/E" trades I had last week are really making me think. Usually I move my stop to B/E after being up 5-9 pips, so this is making me re-look at that strategy.

Going forward:
Go back to a few clear setups/strategies (no "throwing darts" mode - see Friday trades below...)
Keep the stops small 10-12 max.
Slow down, execute as Best I can.
Stay away from GJ pair (spread too big)
Review my trades. {If I can't figure out from looking back at a trade on why I entered, I am just throwing darts. I need to know why I clearly entered.}
Keep doing the weekly stats, it really helped to look back and see what the heck I actually did in retrospect.

Looking forward to a new week. All the Best!

Sounds like a good week to me. If you are moving your stop loss to break even then just take the 5+ pips. Exit based on what your gut is telling you and don't overthink it. Typically if you are moving your stop you are fearing loss. So in my experience you are better off taking the money and running.

Remember you are not a robot playing a statistical method. You are a human playing a game with many ways of winning.

You made 53 pips When you get to where 10 pips = 1% is comfortable then 5.3% in a week is good. Blam!!!!! 21% in a month.

You hear/see so much talk about adding zeroes 000000 to your account. Does it happen, yes it does, but that is some elite 1%er $hit. Once you have that in your head you don't realize that 5% a week IS elite by itself.

Keep at it west practice following your gut, because you are a tactical trader and not a strategist. I am also a tactical trader and that is what I am best at.

Like MO said, someone that can consistently make 1% a day compounding will be way ahead of most everyone.

[westcountry]

Thanks MO and Alias. I am absorbing the perspective you both shared. I truly appreciate it.

I can really see in Me what Alias said about being a tactical trader, that really sums me up in a nutshell. It made me consider who I am, and what I am. For example, I am not a chess player, I don't have strength nor patience as a strategist. I am more of a "process" kind of guy. I am a strong and talented organizer and planner. I am extremely detailed oriented. I am a visual learner and visual type person. I like to streamline process and very efficient. I like to think I am a minimalist. That is me, that is who I am.
(For trading) I'd like to find something that works (for me) and just run with it, maybe streamline it once its working. I am fine accepting that as Me. Now I just have to make it work for me in my trading

Thanks guys for the encouragement. Had a rough couple sessions here last night and today and tonight, but hanging in there.

Happy Halloween!

[westcountry]

And MO, thanks for the picture (I still need to try that new template of yours), it reminded me to get back to basics with clear setup and bias, so went back to my roots with 1-2-3, and wow, had my best trade of the month. Took +29 pips on this one. This was just what I needed.

[aliassmith]

And MO, thanks for the picture (I still need to try that new template of yours), it reminded me to get back to basics with clear setup and bias, so went back to my roots with 1-2-3, and wow, had my best trade of the month. Took +29 pips on this one. This was just what I needed.

If that is your "roots" and it works for you then stick with it and master it. 123 is a very versatile method. I see you have the dchappy method you just used.

[westcountry]

Yep Alias, it is, I have used that a little in the past. Based on some of the posting MO did recently where he was mentioning 1-2-3, and always being inspired by dchappy's thread and trading, plus needing some fresh inspiration this morning, I decided to give 1-2-3 another look again. For me 1-2-3 has some special connection as it was the first thing I was ever introduced to in a Ken Roberts course. It is indeed good advice for me to stick with it. I need to do that.

[MightyOne]

And MO, thanks for the picture (I still need to try that new template of yours), it reminded me to get back to basics with clear setup and bias, so went back to my roots with 1-2-3, and wow, had my best trade of the month. Took +29 pips on this one. This was just what I needed.

All one needs to do is to watch the blue line of the Ichimoku cloud

Mine is set to 18/21/108

Colors are:
NONE
NONE
NONE
MidnightBlue
Maroon

EURUSDM15.png (45.62 KiB) Viewed 3023 times

[westcountry]

Thank you MO, I will check that out tonight

[MightyOne]

If it looks like a breakout of a breakout then it is not a #2 point...

Maybe there is a better way to say it

Just take a look at the picture:

2_isNOT_BO_Pivot.png (15.09 KiB) Viewed 3012 times

[westcountry]

Ok, thinking on that one, and looking to "see" it; absorbing that. Thank you.