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Trading spot fx euro using price action
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Trading spot fx euro using price action

  #441 (permalink)
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In hindsight (!!!) that would have been the trade...
(no excuses)

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  #442 (permalink)
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thewardiknowof View Post
I'm no expert and a still working on issues of my own, but something that is making things better for me; why don't you trade off the TTF (3 min) only for a few days. Don't even look at the LTF (1 min). You may be surprised.

All the best,
Ward

Ward, I am quite good at returning to the trading time-frame chart.

What are you talking about though? Entries or exits? Or both?

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  #443 (permalink)
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As I mentioned, I am no expert. Looking over your charts and it's difficult to see the setups you were using for entries on the trading time-frame or the rational for exits. I was not doubting that you returned to the trading time-frame.

Only a suggestion. Even that must be taken with a grain of salt, as I can only see what you post, and what your charts appear to show. Besides, I have my own issues and struggles and it's not wise to change every time someone gives a suggestion.

Keep at it!

Ward

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  #444 (permalink)
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thewardiknowof View Post
As I mentioned, I am no expert. Looking over your charts and it's difficult to see the setups you were using for entries on the trading time-frame or the rational for exits. I was not doubting that you returned to the trading time-frame.

Only a suggestion. Even that must be taken with a grain of salt, as I can only see what you post, and what your charts appear to show. Besides, I have my own issues and struggles and it's not wise to change every time someone gives a suggestion.

Keep at it!

Ward

Kind of disappointed with mzself that my trades arent marked up well enough, although I constantly evolve my mark-up so maybe I've pushed it too far recently - but it's also been really busy lately and I've left quite a lot of stuff out on some of the days recently.

You can discover what your enemy fears most by observing the means he uses to frighten you.
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  #445 (permalink)
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Just some thoughts Adamus. I'm not having a good go of my trading at the moment either. so these are just random thoughts. I was reading YTC recent blog and he's talking about same thing looking for traps. However, I hear the same thing over and over. Gauge the orderflow. Orderflow, like that's the keyword. What if one is caught in the trap. How do you know it's a trap? Like if one second guesses the trap in a consolidation point , but it turns out to be a trap of the trap. Which has happened often too much. YTC has videos and notes on candlestick patterns, then it also has at the same time articles why candlestick patterns are deceiving on different time frames. YTC PAT is a lot easier to read than Al Brooks, yet there is a lot of detail left vague, questions unanswered and the parting words are practice and journaling and more practice and journaling. And also the patterns are never clean. TST , BOF, etc. Then it's circularly back to the keyword "orderflow" and traps. It's just maddening. Where are the live videos of Beggs taking live trades? Where are the right edge of the chart examples? there are a few, but mostly it's after the fact. Now I'm thinking about combining ideas, like using Perry's method, or another indicator based method to help see the actual breakout of a TST, BOF.
Or emini-watch's indicators which i already have. To help gauge "orderflow", or just dangunnit call it the next direction of the short term trend! At least emini-watch.com has the guy doing live videos to go for his 2pt goal on the ES most days.

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  #446 (permalink)
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I hear what you're saying. I watch for the order flow, although I could watch for it more intensively - sometimes I don't pay it much attention but maybe it's then that I should ignore a setup, when I can't be sure of the order flow.

Sometimes although not often enough, you do see the order flow really clearly. I look on a 1-second chart and it's as clear as day. But sometimes the order flow kicks in too early, from the middle of a stall, and it's obvious that it wasn't stop orders. That makes the 'last wholesale price' pretty worthless.

Oh yes and the other thing about YTC / Lance Beggs, I think he doesn't update his old material, so there's some stuff up there where he talks about his old trading style and you don't get any clue that actually he doesn't trade like that. You can only judge from the date on the document that it's not what he does anymore since it doesn't fit in with the YTCs stuff.

You can discover what your enemy fears most by observing the means he uses to frighten you.

Last edited by Adamus; April 10th, 2012 at 03:34 AM.
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  #447 (permalink)
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Tuesday 2012-04-10

I let 3 big trade opportunities go begging today.

Obviously pretty disappointing again but just have to work with what I can do and slowly improve it.

The first 2 chances were actually just my disorganisation - I still haven't worked out an effective way of structuring my day - I just aim optimistically for an 8:30am start, rarely manage it and then don't manage the rest of my day with trading, eating, breaks etc very well.

But the 3rd chance at the big reversal was a real lesson in emotional management. It scared me enough to make me sweat. I got in wrong and managed to reverse but couldn't hold it and bailed, only to see 20 pips go by.

I have a couple of "rules" in my trading procedures - not to trade within a big S/R area of close-lying S/R levels, and the other to stay out of consolidation if I have 2 failed setups - both of which I could have broken today for good trades. I think hard and fast rules like that are excessive, and in most of what i know, hard and fast rules for the market don't work anyway, so I'm going to downgrade these rules to 'sensible actions'.

Otherwise, the long road to success just got longer, since it seems from my plans that I'm going to have to go back to paid work again to shore up my bank account. The rent money and other outgoings are not getting any less and I don't want to leave it to the last minute to try to land a job. Now I've got more of a handle on the emotional side of things, I also see it's probably going to be a couple of months before I get profitable and I was aiming to be there already. I don't want the stress of trading for my rent coming up when I'm still in sim.

In the meantime I'm obviously going to carry on as before but when I start working for someone else, I'll have to stop. I just hope I don't lose too much of the knowledge and experienced gained before I can re-start.

You can discover what your enemy fears most by observing the means he uses to frighten you.
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Trading spot fx euro using price action-2012-04-10-market-structure.jpg   Trading spot fx euro using price action-2012-04-10-trades-.jpg   Trading spot fx euro using price action-2012-04-10-trades-b.jpg   Trading spot fx euro using price action-2012-04-10-trades-c.jpg   Trading spot fx euro using price action-2012-04-10-daily-sr.jpg   Trading spot fx euro using price action-2012-04-10-hourly-sr.jpg  
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  #448 (permalink)
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Adamus View Post
I let 3 big trade opportunities go begging today.

Obviously pretty disappointing again but just have to work with what I can do and slowly improve it.

The first 2 chances were actually just my disorganisation - I still haven't worked out an effective way of structuring my day - I just aim optimistically for an 8:30am start, rarely manage it and then don't manage the rest of my day with trading, eating, breaks etc very well.

But the 3rd chance at the big reversal was a real lesson in emotional management. It scared me enough to make me sweat. I got in wrong and managed to reverse but couldn't hold it and bailed, only to see 20 pips go by.

I have a couple of "rules" in my trading procedures - not to trade within a big S/R area of close-lying S/R levels, and the other to stay out of consolidation if I have 2 failed setups - both of which I could have broken today for good trades. I think hard and fast rules like that are excessive, and in most of what i know, hard and fast rules for the market don't work anyway, so I'm going to downgrade these rules to 'sensible actions'.

Otherwise, the long road to success just got longer, since it seems from my plans that I'm going to have to go back to paid work again to shore up my bank account. The rent money and other outgoings are not getting any less and I don't want to leave it to the last minute to try to land a job. Now I've got more of a handle on the emotional side of things, I also see it's probably going to be a couple of months before I get profitable and I was aiming to be there already. I don't want the stress of trading for my rent coming up when I'm still in sim.

In the meantime I'm obviously going to carry on as before but when I start working for someone else, I'll have to stop. I just hope I don't lose too much of the knowledge and experienced gained before I can re-start.

Excellent post , Ive been down this road too . Lifes stressful enough without trading but you love trading like I do so Im sure you'll find the way . Fwiw , I found that the interaction I get working with other people is indispensible and that social interaction is necessary for my overall personal satisfaction so being alone indoors trading for hours at a time didnt work for me . What works for me is trading signals from a timeframe that doesnt require my monitoring for more than the 10 minutes at a time it takes to set my orders up and check that everything is where it should be . Instead of watching the screen for hours on end I study the mathmatical probabilities and use them as a guide for my trade management so I can be confident and profitable . This made me enjoy trading more and more and made it less like work . Hope that helps , Eric .

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  #449 (permalink)
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Eric j View Post
Excellent post , Ive been down this road too . Lifes stressful enough without trading but you love trading like I do so Im sure you'll find the way . Fwiw , I found that the interaction I get working with other people is indispensible and that social interaction is necessary for my overall personal satisfaction so being alone indoors trading for hours at a time didnt work for me . What works for me is trading signals from a timeframe that doesnt require my monitoring for more than the 10 minutes at a time it takes to set my orders up and check that everything is where it should be . Instead of watching the screen for hours on end I study the mathmatical probabilities and use them as a guide for my trade management so I can be confident and profitable . This made me enjoy trading more and more and made it less like work . Hope that helps , Eric .

Sounds good, I'll have to check out your journal. I thought I might be able to trade the daily timeframe in the same way I'm using now. I'll definitely try it in sim for a while.

You can discover what your enemy fears most by observing the means he uses to frighten you.
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  #450 (permalink)
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Wednesday 2012-04-11


Greed. A new emotion to factor into my psych work-out with an effective anti-venom.

Got whipsawed by the big volatility in the mid-London-session. Still don't know what that was about.

Had a serious problem with the big bars connecting straight to my order entry synapses and blocking my exit thought processes.

First trade went up - got in well - next bar immediately a reversal candle, should have got out, left it to hit my stop.

Second trade - instead of reversing straight into it as the plan demands, entered late, real late at the next S/R. Again, saw the reversal candle, still had problems exiting as my greedy lower brain stem fantasized about big barred sell-offs with hundreds of dollars profit.

Then the very next setup, got in late at the break of the break-out candle and took some major heat to stay in but bailed after a lower swing high. I gave it up to bash my head against a wall, and came back to see that I should have taken the next move for 20 pips.

Never recovered after that.

Greed was the main emotion.

You can discover what your enemy fears most by observing the means he uses to frighten you.
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