West's Trading Journey

[westcountry]

One more, took some quick pips here when it finally folded to the downside...

[westcountry]

A loss and a set of wins...

EC: 1-2-3 Long; it just did not work out.
EU: 1-2-3 Short, and another short, two trades; both worked about picture perfect, but it is not always that way. LOL.

[westcountry]

- A Blast from the Past -


...Some reading material for over the holidays. I always liked Ken's enthusiasm for all things. Its been a long time since I have seen this book so may give it a look.

[Mr. Hyde]

H4 chart, with a textbook 123 setup / a TTE. 1st tp was an easy 5 to 1 RR and the other 2 tp were

ABC pg69.png (32.44 KiB) Viewed 3000 times

[westcountry]

Yeah, a beautiful higher time-frame 1-2-3; the Right side with price going "up" from the bottom was like a mirror image too of that Left side (where price was coming down). Love to see that.

Thanks Mr Hyde for all your sharing in all the other threads too. I like your HTF analysis - very clear. It is really helping me to 'see', especially when you mark those entries and exits. I was up late night reading all the thread updates - with eyes wide open.

All you guys doing HTF work are really inspiring me.

[Mr. Hyde]

Yeah, a beautiful higher time-frame 1-2-3; the Right side with price going "up" from the bottom was like a mirror image too of that Left side (where price was coming down). Love to see that.

Thanks Mr Hyde for all your sharing in all the other threads too. I like your HTF analysis - very clear. It is really helping me to 'see', especially when you mark those entries and exits. I was up late night reading all the thread updates - with eyes wide open.

All you guys doing HTF work are really inspiring me.

If the charts are honestly helping I will keep posting them for ya. To me exits are the most important. If you don't know when to get out you will either hold the trade till in becomes a loser or you will kill it to quick. Better to have a tp planned and miss a part of the move then let a winner become a loser. Also it lets yuy know the RR ahead of time which will effect my size I use.

[westcountry]

Mr. Hyde:
I hear you on the "exits" - I also hate when winners become losers, and I am figuring out a good exit strategy for me. Thank you too for your generosity, sure feel free to share as you see fit, it is good perspective for me for growing and expanding my trading journey.

[Mr. Hyde]

Yeah, a beautiful higher time-frame 1-2-3; the Right side with price going "up" from the bottom was like a mirror image too of that Left side (where price was coming down). Love to see that.

Thanks Mr Hyde for all your sharing in all the other threads too. I like your HTF analysis - very clear. It is really helping me to 'see', especially when you mark those entries and exits. I was up late night reading all the thread updates - with eyes wide open.

All you guys doing HTF work are really inspiring me.

All you need is HTF. Here is the past year for the AU. Five trades. 2 were taken because they were start of the trend momo's (the very OG idea MO tried to teach). Then 2 taken cuz price zero'd out traders (z line's) with added angles for confluence. The last trade was a zline/momo BO/BI which fromed a bear flag, which the depth of that pole just happened to be the same distance to a zline. 5 trades. Worth 2,500 pips just off the intial entry, not counting any add on's or anything.

I think 75 pips a week at 8:1 leverage gets you your zero in a year. So pretty close. Just from 1 pair.

https://charts.mql5.com/13/550/audusd-w ... ision1.png

[westcountry]

Sweetness! Yep, that's right - those lines are golden. Very very cool. (and thanks!)
....Already I am starting to use HTF even just with the LTF 1-2-3 trades, and just integrating that extra HTF piece is really helping me to filter stuff and see where to exit, and not enter, etc etc...

[westcountry]

-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.