West's Trading Journey

[westcountry]

Exited the trade in minutes with +10. (Wanted to get out since I realized I went against the H1 candle color)

-West

[westcountry]

First trade of the morning (and done trading for the day)... a quick +20. (I sold at the bottom of the previous day's wick zone. This moved very fast...)
The hard part will be not trading the rest of the day

-West

[MightyOne]

It is rare for me to outright tell someone not to do something

DO NOT trade pairs that have flatlined!

At the very least you have to move to a higher period where you can see some tradable movement & if that chart doesn't fit into your trading plan then you should pass on the trade.

Why do you have to move to a higher chart? Because if you are waiting HOURS for price to do something then you are not trading a small chart, are you.

It doesn't matter what chart you are looking at, your time frame depends on two things:
1) the average time that you spend waiting
2) the largest period in which your stop loss is positioned at the extreme

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[westcountry]

Thanks MO,

Absorbing your feedback here. Yeah - I think I see what you mean, if that pair is sideways flatlining, then I am waiting for who knows how long (minutes, hours!), and there is more of a chance for some slight move grabbing my stop loss. So I need to develop eyes and awareness for watching for that. Thanks again, will read this over a few more dozen times to absorb into my Yalie brain.

All the best,
-West

[westcountry]

Update:

Did a little better Thursday and Friday, still learning. Here are the results from last few days.

TUE: -25 pips
WED: -54 pips
WED: +21 pips (evening session)
THUR: +20 pips
FRI: +1 pip
Weekly Total: -37 pips

Self Reflections:
+ Worked on just taking profit and not moving stop to B/E, in some cases above it paid off as price came back soon after taking profit.
+ Worked on sticking with the Hourly and Daily candle color directions.
+ Still absorbing some ideas for position/size per MO feedback. I can do more of that when I am able to trade with multiple units.
+ Watching other related pairs for hints of movement & momentum helped.
+ Push (wait) for bigger returns. Keep the losses small.
+ Logging results and looking back at trades helps me to glean what I can from the experience vs. just letting it go and not trying to learn something from it. I need to keep doing this. (Plus the folks here in the forum adding their wisdom - Thank you for that!)

More learning and trading next week,
All the best,
-West

[John S.]

[quote="MightyOne"]It is rare for me to outright tell someone not to do something


lmao.....yeah, right.

[westcountry]

First trade of the week:
I just sold at bottom of Friday's wick zone...

-West

[westcountry]

Finally it broke through with some follow through, Exited +24.
I need to stop trading for today.

-West

[westcountry]

Update:

+ Traded last night in Asian session (several trades), did not do too well. Ended up -5 pips for Monday overall.
+ Traded one trade this morning. Just exited +25. I need to stop trading for today while I am ahead and not trade Asian session.

-West

[westcountry]

Took some time-off from trading, and now getting back to it.
Inspired by dchappy's posts lately on "1, 2, 3" - I saw a nice 1,2,3 setup this morning. Missed entry on the first red arrow, but caught the second one (Ross hook?) for almost 20 pips. Good to be back.

-West