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The 22 Days: A Price Action Trader shares his Journey
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The 22 Days: A Price Action Trader shares his Journey

  #141 (permalink)
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Bob Volman textbook setup - check his page 167

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From my diary, 29 April 2014

I recognized this as a setup similar to the one Bob had documented in his book at page 167.

Just had to patiently wait out for the right entry point and monitor the trade as it reached its target.

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  #142 (permalink)
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Missed the great IRB long, then took a late trade

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From my diary, 10th March 2014:

I was chicken at 08:30 inspite of the excellent quality of the IRB long.

Then pangs of being a sucker took over and I finally jumped in at nowhere place and thankfully exited sometime afterwards.

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  #143 (permalink)
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A well executed losing trade


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From my diary, 7th May 2014:

This 'long' long trade had to be sat out on my hands for a good two hours.

A double top ruined the possibility of reaching target. I should have exited at the tipping point but held on without moving my stop.

But cannot fault the trade execution too much here.

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  #144 (permalink)
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An IRB long

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From my diary, 29th April 2014:

Developing my eye for spotting good trades.

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  #145 (permalink)
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EURUSD well managed trade - stay in the trade

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From my diary, 31 March 2014:

An IRB short text-book trade, perhaps could have shorted earlier - this is where the state of mind and confidence level matters most.

The trader is the most important part of the equation.

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  #146 (permalink)
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From my diary, 5th May 2014:

An excellent odds IRB setup, which reached target. (NIFTY50)

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  #147 (permalink)
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For iqgod, countertrend trading is akin to intellectual debate

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From my diary, 8th May 2014:

I seem to be fixated on the countertrend setups and become elated when they win out, as if I have conquered the market.

Need to find a cure for this type of counterproductive thinking and stick to doing what is in my best interests which is simply getting a good slice of the trend.

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  #148 (permalink)
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Handling a Trend day: SWING ALL OR MOST!!

Diary over three solid days: 8th (Thu) 9th (Fri) 12th (Mon)

LESSONS:

1. When it is time to sit I must not count my profits and I must not close out positions.

2. When you have all factors shouting 'trend day' just place faith in your stop and swing all or most positions.

3. I bought on 8th April sure that this was a temporary bottom (sure based on technical grounds), held through a large downswing, then sold way too early on the next day. Walk your talk, this game needs outsized wins to give a trader the edge!

4. I SHORTED on a trending day. It worked out well and my confidence was well placed in my abilities, but then ended up NOT taking further with-trend entries!

5. As @tigertrader had adviced @PandaWarrior these days are opportunities to be traded, not squandered off - missing such days may skew statistics enough to make what would have been a profitable year into a breakeven or losing year.

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  #149 (permalink)
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A good scalp

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From my diary, 28 April 2014:

Good entry and good waiting for target to be reached.

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  #150 (permalink)
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Trend days: I HAVE to sit on my hands


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From my diary, 30 April 2014:

I HAVE to sit out trending days.

This is a unecessary loss of 30 good points, for nothing other than 'securing' profits.

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