Goon's trading journal

[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

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?

I missed this post.
Yes, it's from Sam and yes it's taken directly from that tf no multi tf involved. If there's multi tf involved then it would be different boxes there.

$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.

Yes, you should be happy because you know what you're doing wrong so there is hope to cure it. Many others don't even know what they're missing and it hinder them from the success they really deserve. Many of us have this problem at one time and it took conscious awareness to fix this. Some fixed this quick some takes a lot more time but eventually everyone's overcome that.

Some time ago I posted a chart setup and it looks like this

EURUSD profile.png (90.73 KiB) Viewed 6050 times

This helps a lot in knowing where you are at the moment so you don't need to switch chart. My chart is naked when I'm trading and I'm only marking it when I'm posting in the forum to help explain my thought process. That is why my chart setup looks like that as they constantly telling you where you are and what kind of decision should be made.

[Goonslinger]

2 trades and a few additions, but I don't have much to show for it.

2111-EU.png (131.2 KiB) Viewed 5978 times

I must have got out of the wrong side of bed this morning as I did not seem to be able to get anything right today.

Figured out how to place 2 charts side by side and had the 5m / 4H side by side.

1st trade was taken a little late so wasn't happy with it from the beginning. Price was coming off of the high ema, it was below bias MA, looked like a restest from the prev low and on 4h chart it looked like it was heading towards the area marked out @ around 1.022-1.021. Added to the trade after seeing price pullback sharply followed by the red candle but then exited the addition after price appeared to be ranging. Ended up exiting the 1st trade after the small inside bar near the bottom of the range on the 5m chart. I very quickly regretted this decision.

2nd trade was taken in something of a hurry due to my regret in exiting the first trade. It looked like a FTR but wasn't confident in it so the stop was larger than it should have been. Added after the red candle close after the small pullback but exited the addition after it looked like price was ranging again. Made another addition a few hours later but again exited this after price looked like it was ranging (again). Ended up closing the second trade shortly after.

Overall, I walked away with around ~0.5R but it clearly could have gone a lot better.

I was really hoping (foolishly) that price would push down in to the blue area just below but failed to consider that price had already moved around ~90pips for the day.

Funnily enough, despite having the larger TF to the right I was still fixated on the smaller TF and was overly focused on it.

Hopefully tomorrow is better.

[Willson]

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. Cake stand

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.

Well played!

[IgazI]

2 trades and a few additions, but I don't have much to show for it.

. . .

Funnily enough, despite having the larger TF to the right I was still fixated on the smaller TF and was overly focused on it.

Hopefully tomorrow is better.

Maybe start with something smaller, like 12 minutes and 2 minutes, and if you feel the need to look beyond 35 price bars then increase the chart periods.

Maybe you are fixating because your large chart is too large compared to your small chart. . .

I'd give 2/3 of the screen to the large chart, 1/3 to the small chart, and then use something like this on the smaller chart for larger TF context. . .maybe put your H1 or H4 bars there.

[Goonslinger]

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. Cake stand

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.

Well played!

Thanks, Willson...Noticed a link was added when quoting me which probably means "Willson" is a spam account.

This is what the site looks like in urlscan - https://urlscan.io/result/3afcae5c-af4a ... f276ec8b4/

It looks like it might be some kind of blog spam.

Maybe start with something smaller, like 12 minutes and 2 minutes, and if you feel the need to look beyond 35 price bars then increase the chart periods.

Maybe you are fixating because your large chart is too large compared to your small chart. . .

I'd give 2/3 of the screen to the large chart, 1/3 to the small chart, and then use something like this on the smaller chart for larger TF context. . .maybe put your H1 or H4 bars there.

Thanks, Igazi. I didn't realise it was possible to custome the TF in tradingview; I shall give that TF a whirl.

The indicator looks cool too!

Just out of interest what's the significance of 35 bars before jumping a TF?

[Goonslinger]

4 trades, 1 additions - 1 win, 1 loss and 2 BE.

2211-EU.png (132.35 KiB) Viewed 5882 times

1st trade taken at break of the candle that bounced off of the bias MA. It also looked like price was continuing to close above the BO on the 4h chart (black line at the bottom) and was moving away from the blue supply area. Hit TP in a flash. Gain of ~2R.

2nd trade shouldn't have been taken in all honesty as I didn't take it at the break of the high of the prev. candle like the 1st trade but at candle close. This skewed the RR. I did expect price to move up to the blue area marked above which was the BO from the prev. week but ended up getting stopped out (~-1R).

3rd trade (incorrect symbol used) was taken as I thought price would continue up towards the blue area above but ended up moving to BE and getting stopped out.

4th trade was a short as I didn't think we would end up getting to the blue area above. It was taken late but ended up adding which looked good but I failed to take profit as I was aiming for 2R. Ended up getting stopped out at BE. *

I've marked out some horizontal lines which are either BOs or candle turns on the 4h. I don't recall exactly why I drew the top black line but I suspect it was because it was where price broke out and then broke back in on the small TF. *This was the basis for the short for the 4th trade.

Another meh day...I seem to have forgotten that you eat an elephant 1 bite at a time!

Somewhat annoyed that price did end up hitting the blue area without me

[Goonslinger]

Been quite busy at work so haven't had much of a chance to trade until recently. I spent most of the spare time that I had watching some YT vids and going over posts here.

Here's a summary of the mess over the past week:

Note: the white horizontal lines are zlines from higher TFs (1H and 4H)

1912-EU.png (112.28 KiB) Viewed 5670 times

Super trigger happy with a mixture of wins/losses. Wins were between BE + handful of pips to 1.5R.

2012-EU.png (126.17 KiB) Viewed 5670 times

Similar to the day before. Tried to play the range of EU using ZLs from 4H TF. I could have benefitted from a slightly larger SL to avoid getting stopped out there. OR I could have done a better job at reading the charts and realised it was near the top of the range.

2112-EU.png (128.68 KiB) Viewed 5670 times

Not as trigger happy but similar idea to the day before.

2212-EU.png (106.81 KiB) Viewed 5670 times

Similar to the day before although I held the short from the high of the day until that bearish momo at US open. My weak attempt at a daily anchor. Decided I needed egg on my face so took a long - in my defense I thought it would continue to range.


Looking back at the trades in hindsight is an interesting experience. Where I have lost I do tend to think wtf was I thinking when I took that?? I definitely need to do a better job visualising what a "perfect" entry/exit looks like for the bars I'm looking at and take trades when the "correct" bars/patterns are printed.


In any case, I hope everyone has a very merry Christmas with plenty of food and alcohol!

[Don_xyZ]

Keep practicing it.

My daughter recently took it upon herself to learn typing (by my recommendation lolz coz I she loves chatting while playing with her friends). But I noticed she came back to 11 fingers typing when she finish her lesson. I have to keep reminding her to keep practicing it to become proficient at it. Now she types faster than me.

Keep practicing it.

That's the keyword. Also, keep expanding your WIL because things happen. When A happen, what will you do? When B happen what will you do? Eventually, you will have the answer to most of the problems when using the trading strategy. This is how everyone here mastered their craft.