Ward's EUR/USD spot fx journal - Trading Journals | futures io social day trading
futures io futures trading


Ward's EUR/USD spot fx journal
Updated: Views / Replies:7,007 / 89
Created: by thewardiknowof Attachments:82

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 82  
 
Thread Tools Search this Thread
 

Ward's EUR/USD spot fx journal

  #11 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,697 since Oct 2009
Thanks: 3,041 given, 4,496 received

thewardiknowof, the LTF chart looks much better to my eyes at least. Regarding the exit for part two i agree, there was a much better place to exit to preserve your profit when signs of weakness made their apparition on the sell side. About your S/R lines, how do you proceed to identify these levels ? Are you using swing highs and lows only ? Looking at your longer term chart it's not clear ? With Oanda can you use anything else than minute chart ? Can you use tick or range chart or Point & Figure chart with their main platform ?

Reply With Quote
 
  #12 (permalink)
Elite Member
Edmonton, Alberta Canada
 
Futures Experience: Beginner
Platform: cTrader
Broker/Data: ThinkForex
Favorite Futures: Forex
 
Posts: 88 since Sep 2011
Thanks: 199 given, 51 received


trendisyourfriend View Post
... About your S/R lines, how do you proceed to identify these levels ? Are you using swing highs and lows only ? Looking at your longer term chart it's not clear ? With Oanda can you use anything else than minute chart ? Can you use tick or range chart or Point & Figure chart with their main platform ?

To identify S/R lines you are correct, I only use swing highs and lows. I do leave the lines in place if price stalls there but does move through them.

As for Oanda's main platform, it is very basic/simplistic. There are only time based charts and even those are rather limited. I have chosen them to use as I learn as I am able to trade live with very, very small size, thus keeping my losses to a minimum while learning and still having some "skin in the game".

Reply With Quote
The following user says Thank You to thewardiknowof for this post:
 
  #13 (permalink)
Elite Member
Edmonton, Alberta Canada
 
Futures Experience: Beginner
Platform: cTrader
Broker/Data: ThinkForex
Favorite Futures: Forex
 
Posts: 88 since Sep 2011
Thanks: 199 given, 51 received

Thursday March 08, 2012


Two trades today:

Trade one: LONG
Entry:1.32337
STOP: 1.32237
T1: 1.32447
T2: 1.32737

The trend just changed from down to sideways. I used a TST setup noticed on TTF then switched to LTF and used a 123 bottom to trigger my entry. This was a narrow sideways range from about 1.3225-1.3252. The trade began to head up, when I saw on the LTF that it started to reverse (about 9 min into the trade) fear took over me and I moved my STOP to b/e. I then was stopped out for a scratch trade. In hindsight, entry, initial stop and targets were all properly placed. Good trade idea, poor trade management.
RESULTS= 0 pips

Trade two: SHORT
Entry:1.32684
STOP: 1.32810
T1: 1.32558
T2: 1.32334

Price moved up to what I considered TTF resistance and pulled back. Then approached again and I incorrectly determined price was not in an uptrend but a larger trading range from about 1.3225-1.3278. At this point I again used a TST setup on TTF with a lower time frame trigger of doji/double top. I achieved target one(+12 pips) and moved the stop to b/e +1 and was eventually stopped out here (+1 pip). This was done again out of fear and not because of my plan. It is my plan at this point to trail using TTF swing highs and lows. This trade I consider invalid as I misinterpreted the price action and trend while live. In hindsight it would have been a valid counter-trend PB trade in which I would have had only one target again placed at T1.
RESULTS= +13 pips

Any comments, recommendations, or suggestions on better trade management or on my trades /journal in general are welcome and greatly appreciated.

Thanks to @trendisyourfriend for the comments and suggestions. I am grateful for the help.

Attached Thumbnails
Ward's EUR/USD spot fx journal-8-htf.jpg   Ward's EUR/USD spot fx journal-8-ttf.jpg   Ward's EUR/USD spot fx journal-8-ltf-oanda.jpg  
Reply With Quote
 
  #14 (permalink)
Elite Member
Edmonton, Alberta Canada
 
Futures Experience: Beginner
Platform: cTrader
Broker/Data: ThinkForex
Favorite Futures: Forex
 
Posts: 88 since Sep 2011
Thanks: 199 given, 51 received

Friday March 08, 2012

One trades today:

Trade: SHORT
Entry:1.31290
STOP: 1.31470
T1: 1.31120
T2: 1.31050

There was a steady down trend. I used the BPB setup observed on TTF, then switched to LTF and the shooting star followed by a two candle gravestone doji triggered my entry. Withing five minutes
T1 was achieved (+17 pips) and stop moved to 1.31360. After another 21 min, I moved the stop to b/e +1 (not in my plan). Part two of the trade was then stopped out 34 min into the trade (+1 pips).
RESULTS= +18 pips

I stopped trading early today. I really need some sleep as per my trading plan. Will review the weeks trading and post my goal for next week tomorrow, LORD willing.

Attached Thumbnails
Ward's EUR/USD spot fx journal-9-htf.jpg   Ward's EUR/USD spot fx journal-9-ttf.jpg   Ward's EUR/USD spot fx journal-9-ltf-oanda.jpg  
Reply With Quote
The following user says Thank You to thewardiknowof for this post:
 
  #15 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,697 since Oct 2009
Thanks: 3,041 given, 4,496 received

thewardiknowof,

I placed some notes on the image attached to this post hoping it might help you in assessing the trend. I have also noted that you may be a bit too quick to identify a change of trend. You may probably consider a break of a Higher Low in an uptrend as a change of trend but the overall context may propose a different reading.

I use the Fibonacci tool to help me when i am unsure if the recent swing just broken is enough to consider a change of my bias from up to down or vice versa. In the present case, the use of a rising trendline was a big help along with finding the middle point between the highest high and the rising trendline to gauge if a change of bias was pertinent at this point in time. I would have considered a change of my bias only if price was unable to be accepted above this middle point.

Attached Thumbnails
Ward's EUR/USD spot fx journal-whentoconsiderachangeoftrend.jpg  
Reply With Quote
The following 3 users say Thank You to trendisyourfriend for this post:
 
  #16 (permalink)
Elite Member
Edmonton, Alberta Canada
 
Futures Experience: Beginner
Platform: cTrader
Broker/Data: ThinkForex
Favorite Futures: Forex
 
Posts: 88 since Sep 2011
Thanks: 199 given, 51 received

trendisyourfriend,

Thank you very much!! You have gone above and beyond and I truly appreciate your help.

This makes a lot of sense and the image with your notes is very clear. A question I have regarding trend, how do you define and identify sideways ranges? I understand and think how you identify up and down trends and will implement the ideas into my analysis. Very, very helpful.

Reply With Quote
 
  #17 (permalink)
Elite Member
Edmonton, Alberta Canada
 
Futures Experience: Beginner
Platform: cTrader
Broker/Data: ThinkForex
Favorite Futures: Forex
 
Posts: 88 since Sep 2011
Thanks: 199 given, 51 received

Goal for trading week of March 12-16

Implement STOPs according to plan without deviating for every trade, every day this week.

Place the initial STOP two pips beyond previous SH (swing high) or SL (swing low) on TTF. Then adjust or move two pips beyond subsequent TTF SHs/SLs.

Reply With Quote
 
  #18 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,697 since Oct 2009
Thanks: 3,041 given, 4,496 received

Your welcome. For sideways price action i try to keep it very simple. Price moves in a step ladder fashion making a pause at each step. There is expansion in one direction and a period of rotation develops between two levels (a High and a Low point) where the middle point of this new area of balance gets fat and again expansion occurs in one direction. In short, we have expansion, balance, expansion, balance continuously on all timeframes.

What i usually focus my attention on are GAPS that form between areas of balance (see yellow ovales on image and blue rectangles). I consider a zone of balance is in development right after the most recent GAP is beginning to get filled with price and would mark the boundaries by considering the body of the candles only.

I would consider an expansion has occured only if price can clearly move away from a zone of balance by leaving a GAP behind. Such a GAP should be easily perceptible, that is, the first candle to break outside should have no overlap with subsequent candles up until the first bar that forms in the opposite direction. Hence the name GAP. These GAPs represent a strong imbalance in supply/demand and their boundaries may act as support/resistance. I oftentimes only trade when price revisits these areas of imbalance as they are easier to see on a chart (PnF chart are the best for this) even more so than trying to define regular lines of S/R at swing Highs/Lows which can be tricky at times or just too subjective.

Again, for defining an area of balance i only consider the body of the candles that falls within that zone. I find this approach a bit more permissive than considering a break of a swing High/Low as you do. Also, it prevents me from changing my bias too often without a good reason, ie, a strong reason to believe the forces of supply/demand have created an imbalance scenario important enough to see a potential change of polarity in the order flow.



thewardiknowof View Post
trendisyourfriend,

Thank you very much!! You have gone above and beyond and I truly appreciate your help.

This makes a lot of sense and the image with your notes is very clear. A question I have regarding trend, how do you define and identify sideways ranges? I understand and think how you identify up and down trends and will implement the ideas into my analysis. Very, very helpful.


Attached Thumbnails
Ward's EUR/USD spot fx journal-whentoconsiderachangeoftrend.jpg  

Last edited by trendisyourfriend; March 10th, 2012 at 06:03 PM.
Reply With Quote
The following 3 users say Thank You to trendisyourfriend for this post:
 
  #19 (permalink)
Elite Member
Edmonton, Alberta Canada
 
Futures Experience: Beginner
Platform: cTrader
Broker/Data: ThinkForex
Favorite Futures: Forex
 
Posts: 88 since Sep 2011
Thanks: 199 given, 51 received

Monday March 12,2012

One trade today:

Trade: SHORT
Entry:1.31253
STOP: 1.31353
T1: 1.31053
T2: 1.30553

I saw the a sideways range bound trend for most of the day. In my analysis price broke out to the upside near the end of my trading session. I took a TST setup observed on TTF, entering on an engulfing bar on the LTF for entry. Was stopped out after 28 minutes -20 pips.
RESULTS= -20 pips

Had a hard time getting in tune with the market, never felt comfortable all day.

Attached Thumbnails
Ward's EUR/USD spot fx journal-12-htf.jpg   Ward's EUR/USD spot fx journal-12-ttf.jpg   Ward's EUR/USD spot fx journal-12-ltf-oanda.jpg  
Reply With Quote
 
  #20 (permalink)
Elite Member
Edmonton, Alberta Canada
 
Futures Experience: Beginner
Platform: cTrader
Broker/Data: ThinkForex
Favorite Futures: Forex
 
Posts: 88 since Sep 2011
Thanks: 199 given, 51 received

Trend analysis


Trendisyourfriend,

I tried marking up my TTF chart with what I learned from your suggestions for trend analysis. Today may not have been the best day for this although I would appreciate your feedback, if and when you have time. Also, I noticed the image you put up was the 15 min. Was there any particular reason? Would you recommend I use my TTF (5 min) to do this? One final question for now, how do you trade sideways days such as today? I look forward to your responses.

Thanks in advance,

Ward

Attached Thumbnails
Ward's EUR/USD spot fx journal-12-trend.jpg  
Reply With Quote

Reply



futures io > > > Ward's EUR/USD spot fx journal

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
“Stop Hunting” strategy for EUR.USD Nicolas11 Elite Automated Trading 7 November 29th, 2011 10:38 AM
EUR/USD Tick Chart tosmonkey Currency Futures 14 February 12th, 2011 09:03 PM
$EUR/USD data for Ninja ceramictilepro Reviews of Brokers and Data Feeds 19 October 26th, 2010 02:13 PM
Migrating from ES to EUR.USD mainstream Traders Hideout 10 July 5th, 2010 08:03 PM


All times are GMT -4. The time now is 02:38 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-15 in 0.19 seconds with 20 queries on phoenix via your IP 54.226.132.197