I have always wanted to have the grand public journal, however I was never consistent enough to think I could. I've tried different journal techniques in the past, even tho its helped me find mistakes, it was missing something. Little feedback from others. Trading can be a lonely en-devour if you do it part time, or full time from your home. I chose to do it here as big mike was gracious to give out elite memberships to veterans for veterans day. For that, I will contribute what I can and when I can.
Trading Method
I have few methods that I really like. I tend to look at them all to help build my analysis. I am getting to the point where I'm down to just a few and I'm narrowing them down even more. I'm hoping this journal here will really help me do that. By taking trades and analyzing how they worked out, I can see whats working more consistent then others. Also at which methods are just taking allot more time then needed for their reward.
Fundamental: The first aspect of my trading is doing some weekly fundamental research. Looking at the COT numbers to see what non-commercials are doing. If they are adding to their positions or if they are starting to scale back. I also like following the retail sentiment posts by various brokers to see where retail is. When retail starts going the opposite direction of non-commercial, that is a good time to get a bias for price direction. "retail is usually wrong"
Technical Analysis: First, I am not a scalper. I do not have the time for scalping. Every time I scalp, the spread is always in my way and my account usually just hates me after I try to scalp.
I trade the 4hr charts and up usually. I do look at the hourly time to time to see whats going on beneath the surface.
Trend System: ]: I have a trend system that utilizes a moving average based off an ATR. Taking every signal alone in back testing is profitable, however I filter allot of signals based on my own fundamental analysis. Allot of times I will find entries based off of my other price action signals and then wait for this method to trigger an entry and keep me in a trade till the end of a trend. Really nice when you catch a long move, and sit on your hands. I have a problem with sitting on my hands. Below is two super trend indicators. Trade is based on a signal inline with the slower one.
Pivot points: I use long term pivots. Yearly, Monthly, and Weekly pivots. For the yearly I like to split the ranges up into quartets. As I find price loves them for some reason. If the trend system pulls an entry off one of these levels, I'm interested in taking the trade. The monthly and weekly's are used for entries as well, and or targets. The weekly as well assists in gauging the bias for the week. As price has a tendency to stay on side more than the other. When it doesn't, its a sign the market is correcting or getting ready to reverse.
Forks and sliding parallels: These are something that I have been grasping lately. Its a form of support and resistance that is not super widely used. By using these levels I can really take the aspect of pattern finding away. So many traders see the patterns and they are used against them. By using these levels to look for trade entry can really assist in waiting and getting a better entry point. As I am still new in using them, I thought it would be great to include them and see how they work into my trading and thought process. No better way to journal them.
That really sums it up. I wont be always posting every type of chart and etc. Just what catches my eye at the moment. I really hope im able to keep this journal up.