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My way of trading - Robertczeko


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My way of trading - Robertczeko

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  #81 (permalink)
 Big Mike 
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Robertczeko View Post
it is older type from Dell - E207WFP . I guess, that it is not the best choice, but it is always better than my old crt monitor .

Dell makes some nice monitors.

Mike

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  #82 (permalink)
 Robertczeko 
FM, Czech Republic
 
Experience: Intermediate
Platform: MT4
Broker: IC Markets
Trading: forex trader
 
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Posts: 139 since Jan 2010
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Fast Food Friday rullezzz (lot of food from my mother-in-law, which means long night without sleeping, because of "heavy" stomach)

I traded earlier, but it was in a rush, so I will rather exclude such a day next time. I was observing all the day charts on internet trying to prepare on a session, but it had no effect. When markets are not in a move, you cant push them with one order . Yes, I took some trades but it was in very lazy area. I am so much looking forward to have our timezones in sync again. Now stop talking about what I should, would..please, take a look what I did .

Trades

#1 reason entry : bounce from supply area. reasons why NOT valid this entry: still not formated clear downtrend, very poor risk reward. I took a loss and it woke up me...for a while.
#2 reason entry: bounce from broken strong supply level, finaly on the right side of a trend. There was my impatience to wait for a pullback, I just saw moving market and took the bite. I had space to move my sl, so it was better end than previous trade, but no satisfaction.

I am angry on myself, I know about my problem, which is lack of time and it makes me more nervous, I wanted to begin with better preparation before trading, I have to figure out how to do it, because I feel that there is most waiting confidence on me, if I will be prepared for most possible scenarios in market and due to this I will obtain objective overview.

R.

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  #83 (permalink)
 Robertczeko 
FM, Czech Republic
 
Experience: Intermediate
Platform: MT4
Broker: IC Markets
Trading: forex trader
 
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Posts: 139 since Jan 2010
Thanks: 219 given, 264 received


I wish to all of you a great start into a new week!
And what about mine?


Here is a short time-line (without specific time )

- NT 7 still not working, I have to solve it ASAP!!!
- I tried nogap rangebars and it looks more readable..
- I am changing CL 4-11 to 5-11, volume is higher in premarket, it was not so clear on friday.
- all important reports/news are published for today, so no need to wait if there will be valid signal.
- market opened with a gap, which is now almost closed, I can see clear reactions on OHLC from previous days ( more days with similiar values of those levels = stronger area )
- I am too late with marking up my supply/demand areas!
- and here we go, after strong return of price from the bottom I took long trade with enough space for profit.
The beginning looks pretty good, but then comes in a while strong move against me. I move stop loss and I am taking little loss.
- now I can see very clearly, that market is forming into a triangle, will this break down, or up? Too late to see some action, but I am hoping till last second .
- my time is over, no more trades. After couple minutes appears nice long signal, they run for profit...without me, I am out.

So, that is how my thoughts flows during session.


R.

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  #84 (permalink)
spartacus
New York, NY, USA
 
 
Posts: 55 since Nov 2010
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Hi Robert,

It was nice to read your report on the market. I enjoyed the way you narrarated or recapped the market today. As you talk about the gaps and different areas that are important to price will eventually allow you to better understand the market and familiarize yourself with the way the market moves and behaves around important price levels. As you continue, pay particular attention to areas where the market spends much of its time and its attempts to break away from those very same areas; and notice if price successfully breaks from those clustered price areas or does price get drawn back into them. Notice things like that, keep on going.

Regards,
spartacus

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  #85 (permalink)
 Robertczeko 
FM, Czech Republic
 
Experience: Intermediate
Platform: MT4
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Trading: forex trader
 
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Posts: 139 since Jan 2010
Thanks: 219 given, 264 received

do i have the edge in markets? I think I have collected few pieces from many sources, but I still dont have whole picture put in together. I am shaping myself really slowly, the fact is that I am not A.Einstein, there is only couple things, which I managed from start like I would do it my whole life..and I am very often trying to compare them with my progress in trading. And it makes me angry, very angry. But then I realize, that if my mind works at simple conditions in best case, I need to keep it simple, clear, but understandable..I see every day lot of occasions, situations, in which I see potencial, but it is covered with my short sight without any clues. I am trying to push away these moments.* Just some unwritten notes from my head .*

daily log:

- I am reloading data, it looks really weird, so smooth moves. After reloading no change, ok.
- we have here decent uptrend, few pullbacks, I am checking if the gap from yesterday is closed, marking up s/d areas.
- I see couple bounces from yesterdays high to uptrend, perhaps there will be more action from bulls.
- ok, I am trapped! Somehow my data were set to old CL 04-11, thats why I was so confused. I forgot to save my workspace yesterday!!!
- so lets do this process completely again with right data.
- price went below yesterdays high, both t-frames in same direction, I took a signal.

#1 trade: reason entry - bounce from EMA , but without success. I took full stop loss, no space for defending myself.
- price is back, it is moving around yesterdays high, it is very sensitive area with many bounces to both directions. Hard to say wich way it will go ( as I would ever know... )
- so finally price is moving up, I will wait for pullback and then I will go for it. There is still enough space for taking profit.
- and the pullback is here

#2 trade: entry reason - pullback with bounce from previous demand area, not working.
- I am getting nervous, not sure what am I doing..
- price is still on the same place, I am loosing taste to realize more activity around this price level (finally!!!)
- I am thinking about my second trade, I am maybe too precise with marking up all areas, where is market starting sharp moves, I see only couple ticks from this area much stronger price levels, lack of patience ( cant get rid off my negative status on demo account for this month)
- still no move, if I would know this, I would add another 10km to my 5km run before trading
- kings of leon are doing me a company... and the market is on move, yeah.
- price is near todays high, very slow pullback

#3 trade: entry reason - bounce from EMA, previous supply area. It takes some time, I move slightly my stop loss according to a plan and it works.
- it is over for me, I finished on 0$ profit, without pleasure, still lot of to learn.

R.

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  #86 (permalink)
 Robertczeko 
FM, Czech Republic
 
Experience: Intermediate
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Thanks: 219 given, 264 received

...still the same song, day by day, hard to hold on, harder to switch for another.

- I came earlier from work, so I tried morning session. I checked charts, no huge moves, looks good.
- I see in reports Fed, which will be in 1 1/2 hour..should I trade or rather step back?
- price is slowly moving to the top of the day around 105,90
- I forgot to draw my supply/demand areas, it is done.
- nice, price fell down and bounced from yesterdays high

#1 trade: entry reason - pullback to EMA, it will continue down...no it didnt.
- I realized the strong signal to long which is marked, but it is against my secure behaving in markets - I dont want to go in counter-trend trades, this signal repeated today 3x , always with possibility of a nice profit.
- ok, when price went up so strong, I might wait for signal to the long side.

#2 trade: entry reason - pullback to EMA, I moved my stop loss and little slip helped me to close it around zero.
- I am thinking more and more about doing more then 3 trades, I have so much time and only 1 trade to realize..
- price makes a new high, but then drops down again. There is no solid trend today, I am waiting for another move down supported with signal.

#3 trade: entry reason - nice bounce from previous supply area, here I am doing my biggest mistake for today. I moved my profit target down to yesterdays high, hoping that I will get rich in few minutes. I am more thinking about the amount of money, than about situation on market. I overlook new demand area, which stops my homerun, I pass my previous PT - value and then I move it quickly back, but market shows me a middle finger ...

I am looking forward for tommorow, I will be prepared better.

R.

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  #87 (permalink)
 Robertczeko 
FM, Czech Republic
 
Experience: Intermediate
Platform: MT4
Broker: IC Markets
Trading: forex trader
 
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Posts: 139 since Jan 2010
Thanks: 219 given, 264 received

it is my last trading day in this week, I didnt want to mess up what I tried to learn and I am still trying to keep it on my mind - to step away from charts, when there is no solid move, if there is possibility to get into trade, try to wait for clear signal and jump in without hesitation, but only with trend!

- I sit to computer at my usual time, last hour before market close, checking all charts, news, I feel good.
- there is visible downtrend, but how long it will continue. I marked up couple areas with unsure influence on a price...everything could happen, but I will be on alert especially around these areas.
- Almost one hour before I came price went up, now it is above EMA, it is quickly changing my opinion about downtrend

#1 trade: entry reason - EMA pullback, I go long. why not to jump in - still not completely broken supply area, but too late to take my decision back. I am trying to manage trade with hope, that it will break on through to the other side ( the doors ) , but I finish with little loss and very quite singing this song.

- ok, downtrend is back, I am waiting for pullback, which comes in moment

#2 trade: entry reason - EMA pullback, not much to say about course of trade. It fell down very quickly, after my PT it went down for next +20 ticks and stopped around 104,75.

- I was waiting for another action, but it bounced up and I couldnt find clear signal.

So this is the end, beautiful friend..this is the end my only friend. They got me today
I will have no access tommorow to my computer, so I wish to all of you nice weekend!

R.

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  #88 (permalink)
 Robertczeko 
FM, Czech Republic
 
Experience: Intermediate
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Posts: 139 since Jan 2010
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so wicked weekend, not much sleeping, but finally switched to summer time,
since this week I will have enough time to relax after work and prepare on trading session.
I dont have too many news, I am looking forward to backtest couple ideas,
which looks to me interesting and hopefully it might move me to the next level..but now,
how I managed todays session.

- I am opening charts, finally in NT7. There is visible gap at the start of the day, will it be closed today?
- I dont see in reports nothing scary, I marked up couple supply/deman levels.
- market has been lazy about one hour, maybe more, perhaps it will move again today, I cant start trading at
my usual time, I have to finish something else.
- so I am back, I missed two signals on the same price level, first one would finish on B/E, the second trade
would be a profit target. Why would I trade them? Bounce from EMA + support from the low of friday - there
is a strong area, where the price move always away.

- #1 after this move appered small pullback, it looked, that it bounced from previous supply area, I jumped in
without hesitation, I saw there enough space for my PT, there was rounded number 105 and and another price
level created by bottom of a gap. But...market turned against my position - no more discussion.
- the drop of price slowed down again around fridays low, I saw there a possibility to jump in (short),
but it wasnt signal from my plan, it is more likely a repeating situation, which I have seen very often.
How a nice move continued down.
- price bounced from demand area, I saw there again a situation, which I dont trade - it is a countertrend signal,
it is very tempting, but my primary goal is to master trading with trend, I leave out those trades.

- #2 I see a pullback on EMA, I took a signal, price is moving in my favour for a while, but then I am kicked out on
moved stop loss.
- on the next pullback (same area) price continue down, without me.
- I think, that I was well prepared for today, what I really messed up was my absence at the beginning, which
would maybe increased my score. I still dont know much about behaving market after a gap, but I suspect, where
to get valuable informations about it ( Spartacus journal ) . And signals, which I dont have checked from longterm
view I will not ignore, but there is a lot of work before I will be able to use them properly.

R.

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  #89 (permalink)
 Robertczeko 
FM, Czech Republic
 
Experience: Intermediate
Platform: MT4
Broker: IC Markets
Trading: forex trader
 
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Posts: 139 since Jan 2010
Thanks: 219 given, 264 received

I feel ashamed for myself... I dont have much to say for today. I took 3x loss, always in choppy zone.
I followed market since morning session, so when I came home and began trading I thought, that nothing can surprise me.
What a mistake, I can always surprise myself! And that is all about.

I saw nice move up from open, couple stronger areas were broken, so I was waiting for pullbacks, where I could
safely jump in. I didnt respect actual mood of market, my first two trades were on similiar price levels, I was thinking
about re-entering it for 3rd time, but I chose for it another "great" place.
MY thoughts are about getting rid of some indicators, which are evoking in me the feeling, that now is the right time, place
to enter the trade..but then I realize, that it is only excuse for my behaving, it is not about indicators.
My age will rise up for one more year in couple days, I hope that I will rise up more mentaly .

Sorry for not detailed trading log.

R.

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  #90 (permalink)
 Big Mike 
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Happy Birthday, and good job posting on a tough day.

Mike

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