West's Trading Journey

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MightyOne
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Re: West's Trading Journey

Postby MightyOne » Fri Dec 23, 2016 7:27 am

I just want to point out what I believe to be some basic errors in your analysis.

I don't like this sideways moving PA at all...

Perfect your ideas, don't focus too much on the results of individual trades.

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Re: West's Trading Journey

Postby TheRumpledOne » Fri Dec 23, 2016 3:32 pm

MightyOne wrote:I just want to point out what I believe to be some basic errors in your analysis.

I don't like this sideways moving PA at all...

Perfect your ideas, don't focus too much on the results of individual trades.

analysis_for_west.png


Exactly!



IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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westcountry
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Re: West's Trading Journey

Postby westcountry » Fri Dec 23, 2016 9:01 pm

MO and TRO:

Thank you guys both for the feedback, detailed markup analysis, video, kindness and taking the time to help inspire me to "see". Really nice holiday gifts here for me to take into the weekend and glean as much as I can from.

MO, I have been absorbing your analysis markups all morning here. I can see that I need to build my awareness and learn to really start watching and discriminating between the breakouts and patterns. I can see now its not such a good idea to put that #2 right after a breakout (pillar). I guess the idea is the 1-2-3 sets me up for a nice entry before the potential breakout or move, where I can then reap the rewards. And that the 1-2-3 is a "pattern" (not a BO), and that makes a lot of sense, and helps explain some of my bad trades. The sideways price action also - always felt funny on those trades, so I need to learn.

TRO I went through the video - and it was really helpful to me. "Profitable, not perfect". You read me like a book. I can totally relate, especially being a perfectionist: wanting that damn perfect holy grail system that works every time without fail, wanting perfect entries/exits, and LOL, ... sets me up right there for failure. Time to Let that Go. I liked what you said too about knowing what you're good at. 'Know your strengths'...good for me to look at what are my strengths in trading over the holidays. Really gives me more take to heart.

Perfect my ideas and the rest will come.

All the best and happy holidays!
-West

Mr. Hyde
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Re: West's Trading Journey

Postby Mr. Hyde » Fri Jan 13, 2017 7:59 pm

westcountry wrote:-Update-

Lately, my trading has been challenging. Upon reflecting, I am seeing bigger swings on the 15M chart lately, such that a 10-12 S/L is not good enough to let the 1-2-3 breath a bit. ...So I am learning that I need to evaluate each trade and see whether a small stop will work or not, or trade with a bigger stop and R:R expectation.

Things I need to focus on and remember:
...check and trade with appropriate size stop for the size of 1-2-3 pattern.
...Get back to "every pip counts!" (vs. getting loose & wild)
...Get back to: If momentum starts to run against me, get the heck out.
...Get back to: reviewing the loser trades and see if I can glean something from them.
(Case in point, like the one's I show below, I was pissed and shutdown (losing confidence) and did not want to review them, but sure enough after I did, what I found blew me away and was great learning. What you all say in the other threads really stuck with me: print out your trades, mark them up, study them, ...and I can see that makes such a huge difference.) So I am starting ask my self:
    + What was the chart showing me that I missed?
    + What was price doing and showing me?
    + What kind of 'edge' am I developing for my self?
    + What can I learn for next time?

Here are three trades (entries at red arrow), and what I learned from each...

UJ: Loss.
This would have been an awesome trade if I had put the stop behind the #3 point. I could have chose a bigger stop and R:R, or not taken the trade with a 10 pip stop. It was obvious a 10 pip stop would get chomped at pretty quick with those candle sizes, but I was cocky and not paying enough attention.

EC: Loss
Another trade where using a ten pip stop was too tight. If I had it behind the #3 point it again would have been a really nice trade.

NU: Win.
I was concerned selling into support, but it worked out. I got the idea from other HTF (High Time Frame) threads on this forum, to start looking on the HTF for clues of what the bias is. In this case: H1, H4, D1 all were trending strongly down, I had that in my favor in a big way...so I went for it.


Hope 2017 is going good for ya west. Here was a trade from today. Got about 175 pips from it. 15 pip sl used (2% per 10 pips). Blue line show daily/4h/1h zline. That screams to me that its a good place for a 123 to work. Then found my exit (a 1hr zline that crosses at an angle).

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Mr. Hyde
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Re: West's Trading Journey

Postby Mr. Hyde » Sat Jan 14, 2017 12:29 am

Here is a before it happens chart for ya for how I look at and use HTF w/ 123. The green box is the rectangle formation from the weekly. Fibs is from the daily. Then you have a 123 on the 4hr chart. Then I will draw a 15 and 20 angle to see which one seems better. Then I just start movin it around lookin for cones/pennets/pitchforks and see where any horz lines cross. Then I just drop down to the 15m when Im tradin and wait to enter.

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Re: West's Trading Journey

Postby Mr. Hyde » Sat Jan 14, 2017 12:38 am

Also a good idea is to have a pre trade check list. Mine list all the pairs I trade, current and past ATR, alon with a =/- 20% added to it. Then there are colums for DWM and anything that I see on those charts. Weekly open, daily open close, 4hr, angles and notes column. Also I will print out a chart a head of time if I see something developing, just so I don't forget or anything

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westcountry
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Re: West's Trading Journey

Postby westcountry » Sat Jan 14, 2017 9:28 pm

Mr. Hyde,

Good to see you here, thanks for checking in and sharing some trades, feedback and suggestions.

+ The 1-2-3 EJ M15 is clear as daylight. Beautiful. I am totally with you in terms of how you see it. And I can see how you mark up the HTFs as well. Pretty cool.
+ I like your idea of printing out charts also, as sometimes my platform closes/crashes and loses my markups.
+ I have been looking more on the HTFs too lately, and its been a good experience. Need to work HTF more.

...I am marking up EU for practice here now, let me see if I am seeing the same thing as you...will post my markup.

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westcountry
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Re: West's Trading Journey

Postby westcountry » Sat Jan 14, 2017 10:18 pm

Mr H,

I marked up my own chart with things you added on yours to see if I see them too with my eyes, and also see what I see with mine. Good exercise. Nice 1-2-3 on H4 waiting to happen with lots of room on the downside.
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westcountry
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Re: West's Trading Journey

Postby westcountry » Sat Jan 14, 2017 10:37 pm

And marked up my chart of EJ on M15 also in effort too see what you see, and to see what I see. It makes sense!
Neat how price reacts at that 15 degree line.
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Mr. Hyde
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Re: West's Trading Journey

Postby Mr. Hyde » Tue Jan 17, 2017 5:17 pm

Give me some updates. Hopefully you killed EJ and EU is setting up right now

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