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Incorporate 5m fib study into the trade plan. This is more than a few times I've missed these nice fib retracements off the swing highs/lows. Confluence of yesterday's low and 50%, 62% retrace should not be missed. Lack of screen real estate is messing with me. I'll get it figured out. I'm starting to think I could do better with candle patterns and fibs than what I'm currently doing.
I can't believe I even think like this. A blind man could have seen this divergence. I was looking for an upside breakout. I need to rethink things. I can't believe you can know what you should do on the static chart but when it's in motion you can't think. This is not good. I know better than this. Pay better attention to the larger lot size on time and sales, I noticed the selling of the larger lot sizes and didn't act on it. Embarrasing but fact. I need to go back to the basic setups, master them, before trying anything close to this.
Internet has been in and out the past couple of days. I think it's probably something to to with the snow we got, I believe it set some sort of record, or at least it's been awhile since we've seen snow of this magnitude. I've come to the conclusion I want to cut my learning dues to a minimum. I've decided to trade $1 pips in fx until such time as I become consistant. I'm looking to back off my screen time a bit also. I believe I'm whipping the last of my afflicton with indicatoritis. I've been picking up some good advise here and there in other folk's threads and other forums I frequent, along with the books I read. I believe I'm to the point where I just do my thing, journal, reflect, and eliminate mistakes.
"The simplicity of the markets is it's greatest disguise"
Hey bluemele. Yea this is what Big Mike hammers home. I read it some where in one of the other journals. I can't remember which, but it went something along the lines of: as you journal, keep details of what you do good and bad, then at the end of each week go through and read the last two weeks, you'll start to see repetitive mistakes, those are the ones you write down on your post it note @ the monitor and work on one by one to eliminate. Hope everything is going your way.
EDIT: It was your thread post # 20. I knew I read it somewhere. :-)
"The simplicity of the markets is it's greatest disguise"
Waited this setup out. I believe it's a good entry technique for longer term trades, of course I would like to figure out how to get in on the low of yesterdays wick. Entry .9968, upper small white horizontal line. Stop @ .9800 for starters.
Entry .9968, upper small white horizontal line. Stop @ .9800 for starters.