Patterns Observation.

[Don_xyZ]

Oh, I haven't replied to your answers from my question before (on the chart). I'll do it tomorrow. Prolly not gonna be trading tomorrow coz I had to take my daughter to her march early in the morning. It's gonna start at freakin' 5 o'clock in the morning. Which school does that in the U.S.?

[IgazI]

Done for the day, 2nd episode (thanks to dojirock for making me realize I've been too lazy)

If you've noticed, there has been no training wheel for several posts now.
So, can you tell me where's hori? Blue and red horis.
I hope you can already tell (uhm, you really must learn line chart. Right IgazI? )

where's hori.png

This is how you milk your trading account day in and day out. Some people will be shocked to see the gains I posted on this thread but Kreslikers won't even flinch coz they're already used to seeing this kind of stuff.

Damn right

Used to seeing 'this kind of stuff', yes.

Used to seeing a dizzying number or R multiples, no

It is nice to see where my game could improve.

The thing about marking charts. . .
it is as never as clear as before you started marking the chart

neverland.png (71.11 KiB) Viewed 1247 times

[kiwiarian]

Done for the day, 2nd episode (thanks to dojirock for making me realize I've been too lazy)

If you've noticed, there has been no training wheel for several posts now.
So, can you tell me where's hori? Blue and red horis.
I hope you can already tell (uhm, you really must learn line chart. Right IgazI? )

where's hori.png

This is how you milk your trading account day in and day out. Some people will be shocked to see the gains I posted on this thread but Kreslikers won't even flinch coz they're already used to seeing this kind of stuff.

I think I'm seeing the line chart a bit clearer now, if price is closing higher, price is going up. Plus the line chart is a nice trend line in itself, wait for the retrace, place a trade. Since I had just learnt about wick-loss-extremes was struggling to see those hints.cant do chart posts as out of town at present.

[Don_xyZ]

I see a main 'Z' level, holding most of the dots, and a widened range caused by low breakout attempts and rejections.

anywhere around "HERE" is a good entry, IMO. . .
of course, when the dot left the upper 'Z' level that was also a good entry.


for_Don_xyz.png

Z lines also work on this type of trade provided the trader knows what to expect. Indeed the price close inside that tight range and after x bars you have a clear idea of what's happening. On a sidenote, the pattern over H1 gave hints on what's happening because you got a strong up, and then down but then the price don't really have enough steam to push it up again. Of course, it will take some time to collect more strength to push up.

This market scenario is really not favorable for trend-following traders because at the time when the chart is live you don't really know until you take some hits and realize "ahhh, this is a sign that the market is gonna go sideways." Now, we obviously have options on how to deal with it:

1. Stop after you get x amount of hits and resume again after the price is outside of that range. So it's either a breakout or retrace to that range.
2. Keep firing the trades knowing that a range will eventually be broken and that the best trade is actually inside the range.

In my case on that day, I go with (...) you can already guess.

Done for the day EU session.

Crazy first couple hours. Good thing I came out with some green. One trade wipes out all the losses. BEs, losses and then profit.

European session horis.png

So again, where would you exit if these are all your entries. Better yet, where would you enter if that is your chart (using that exact line chart)?

Blue horis are buy,
Red horis are sell.

I would try and have the hourly colour behind me. That last trade I would probably have taken my profit off the table missing the push up.

Line2.JPG

You can trade the chart as is without big tf but you can also trade it with big tf. As long as you know what to do. To the left, there was a strong rejection with such force that the bulls ran out of energy and need to regroup.

line chart snd.png (41.33 KiB) Viewed 1172 times

This kind of SnD is common where it just broke through a zone and then V-shaped it. Check your chart history and you'll see this to the south or to the north.

Done for the day EU session.

Crazy first couple hours. Good thing I came out with some green. One trade wipes out all the losses. BEs, losses and then profit.

European session horis.png

So again, where would you exit if these are all your entries. Better yet, where would you enter if that is your chart (using that exact line chart)?

Blue horis are buy,
Red horis are sell.

Looking at that day I don't think I would short during the first period.
After shorting 3 or 4 times I would likely use a bigger SL/smaller position to see if I would survive that bouncing around.
With the new hour I would definitely be long, close it and go long again.


UJline.jpg

Using bigger SL + small size is also good. Yes, I could also enter on that buy entry from the middle of the move up but I got enough.

Done for the day, 2nd episode (thanks to dojirock for making me realize I've been too lazy)

If you've noticed, there has been no training wheel for several posts now.
So, can you tell me where's hori? Blue and red horis.
I hope you can already tell (uhm, you really must learn line chart. Right IgazI? )

where's hori.png

This is how you milk your trading account day in and day out. Some people will be shocked to see the gains I posted on this thread but Kreslikers won't even flinch coz they're already used to seeing this kind of stuff.

Damn right

Used to seeing 'this kind of stuff', yes.

Used to seeing a dizzying number or R multiples, no

It is nice to see where my game could improve.

The thing about marking charts. . .
it is as never as clear as before you started marking the chart

neverland.png

This U/J chart is similar to the previous one but on the opposite side. It's painful if a trader doesn't know what he needs to know about these market situations. Some false breaks and a very quick momentum change. I actually entered on that false break. A lot of traders, like 99.99% of them can't see this entry or even if they know and see it, are afraid to enter. Well, that is the biggest contributor to my profit yesterday. That's the best daily anchor trade during this week so far. I mean, see the drop? Those points where you add all the way down are indeed good but only if you're not maxed to the account (risk-wise). If those are for scalping, then it's also good. U/J now is very fast these days and even using medium risk could be fatal due to the candle range. I don't care why it moves like it moved but it's good for the pocket

false break quick momentum.png (23.47 KiB) Viewed 1172 times

Ok, I think I already commented all of your answers to my question. Thanks for making the effort to draw and reply

[Yirbu]

Thanks for making the effort to draw and reply

Thz for the answers.
This is next level answering; you replied to 3 different posts in one post.

[Yirbu]

A full loss.
Wasn't planning to trade today but I did a couple of trades anyway.
This was the only loss and I had one be trade.
I'm a bit annoyed because this isn't the first time it happened to me; in a trade and some kind of news ambushes me...
The only one to blame is me
Luckily my full losses now are only half as I jump in with 50% and add some if I like how price moves (thx IgazI)

On the other hand my other trades made sure this was one of the most profitable days this month so besides this...there are no complaints.

loss160323.jpg (197.44 KiB) Viewed 1142 times

[Don_xyZ]

Done for the day.
It keeps repeating. Took a few hit, and then baaam!!! 2 daily anchor trades wiped all the losses out.
When you know the limitation, you can overcome it.

same scenario different day.png (22.84 KiB) Viewed 1093 times

In less than 2 hours.
Let's prepare for the EU session, in the meantime...

...you should be able to pinpoint my entries and exits.

[Yirbu]

Done for the day.
It keeps repeating. Took a few hit, and then baaam!!! 2 daily anchor trades wiped all the losses out.
When you know the limitation, you can overcome it.

same scenario different day.png

In less than 2 hours.
Let's prepare for the EU session, in the meantime...

...you should be able to pinpoint my entries and exits.

Yes I can.
But I think the best takeaway is that I can now accept having a streak of losses and then just wipe them away.
That's not wobbly trading that's just the way it is.

[Don_xyZ]

Done for the day.
It keeps repeating. Took a few hit, and then baaam!!! 2 daily anchor trades wiped all the losses out.
When you know the limitation, you can overcome it.

same scenario different day.png

In less than 2 hours.
Let's prepare for the EU session, in the meantime...

...you should be able to pinpoint my entries and exits.

Yes I can.
But I think the best takeaway is that I can now accept having a streak of losses and then just wipe them away.
That's not wobbly trading that's just the way it is.

I gave plenty of repeats on the concept of entering the MMA.

You know your stuff and therefore, you should never doubt them. If you ever doubt your strategy and WIL, then you're not that much ready yet. Trading skills should come like second nature to you.



Yes, there will be losing streaks along the way but they will all be wiped out as long as you use proper risk and have buffer. Someone who enters the octagon and expects to come out without getting hit or even worse, a drop of sweat, is delusional. If it happens, then it's good but to expect it to happen every time is totally nonsense.

The infamous 3 sec KO, fastest in UFC.

There are plenty of my examples where I exit in just minutes after entering and with very good results but there are also examples where I get hit badly but later came out on top with some nice icing. Traders are mostly discouraged about the incoming punches but that only means they don't know the limit of their strategy and the solutions. For this, you need a looooooot of screentime. With M1, you'll get ridiculous amount of screentime super fast (I've been screaming about this since more than a decade ago but they think it's stupid to do that lolz to them). There is a very big gap between believing in your trading strategy and knowing your trading strategy. You can believe all you want that you can fly after you jump head first from the top of Burj Khalifa but everyone knows that you will 1,000% die when you hit the bottom.

[Don_xyZ]

Listening to this again today, I realized Van Halen already prophesied Bernie Madoff's scam in their song way before it happened. Check it out!

https://youtu.be/sZLKtjATZt0?t=140

" Oh, that's what dreams are MADOFF "

wait-what-meme-16.jpg (69.24 KiB) Viewed 1007 times

A/U this session is not as sexy as the morning one. Lotsa dilly-dallying around before the plunge. As usual, it repeats again but this time it takes a bit longer and I put more aggressive entries to the south. Maybe I'll explain more tomorrow.

some deaths, be and abundant profit in the end.png (29.92 KiB) Viewed 1007 times

The profit more than covers the losing streak. By now you must already be able to guess my entries and exits. If you already can do that since the last post then good for you.

Enjoy your weekend folks!