T's Journal

[tmanbone]

Trade Plan REV-3

Trade only the E/U, G/U, and the E/J
Add more pairs to watch list only after I become comfortable watching the above three pairs.
Trade only the daily time frame.
Trade only shooting stars and hammers @ S/R
Find S/R zones off weekly line charts.
Check posistons, adjust stops after 17:00 est.
Trade in direction of longer and intermediate term trends.
Max risk = 2% of account balance.
Develop an itemized written check list for taking trades on a scale from 1 to 5, pros/cons.
Write down plan on every trade.
Take picture of every trade for future review.
Never make the same mistake twice.

Example of how I find S/R





Entry @ low of shooting star.
Trade 3 lots, one off at 50 pips, one off at 100 pips, and trail the last till market takes me out @ reversal PA i.e. hammer

Notes: Rounded bottom had folks confused. There seemed to be a lot of traders on various forums thinking trend reversal.
Exchange rate did break trendline.
Stopped on previous trade due to impatience.
Had been thinking 1.38 entry for some time.
This trade faded SSI & Currensee.

Lessons learned: Patience, wait on the reversal PA @ S/R. I only need one trade a month to add a zero to my account balance each year. I don't need to monitor PA 24/7, to be profitable.
Keep it simple.

Trade plan and various trading tools will always be posted in first post of thread.

[tmanbone]

Will continue to trail till reversal PA.

[newschool]

What I am starting to see in Forex, is that the general trend is our friend, but there is always a "in your face" trend wich is always a trap. For example the MZ knows where the real trend is going, but it waits for the fake to buy on pullback..

Basically it made realize what "buy low sell high" is really about...

[tmanbone]

Enter @ 1.3724 stopped @ 1.3494

1 + 50
1 + 100
1 + 230

Looking to sell shooting stars @ trendline; Hedge/exit @ reversal PA; Wait on next setup.

[tmanbone]

Setting up.

[tmanbone]

Experimenting with trend line breaks on H4

[tmanbone]

Break and retest of H4 S/R. Better entry.

Lesson: Patience

[noone22]

Example of how I find S/R

And how actually you're founding S/R?
And which line (from the bunch) is actual S or R?
(Only don't tell me, that they're all S or R).

[MightyOne]

Example of how I find S/R

And how actually you're founding S/R?
And which line (from the bunch) is actual S or R?
(Only don't tell me, that they're all S or R).

That is exactly how I feel about Fibs noone22

[newschool]

just a quick opinion here :

I dont enter on trendlines,

I only add.