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rookies Short term trades

 
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Rookie

rookies Short term trades

Splitting up the "rookies long term" and posting the short term scalps into a new topic.

Basically this is a laid back Shawn wobble which I will elaborate on another day.

Today was a terribly slow Holliday trade for the EU but earlier on the Cad crosses did very well not that I traded any of them. 

Attached is my all-day trade in the EU, mostly 2 pip TP while I was off doing other things. Not to worry about the unrealized aa all small risk and should they will close in the next session. 

Happy Scalping.

AttachmentSize
9-2 AM session.PNG13.24 KB
Mon, 09/02/2019 - 5:44pm
 
robunited

Still friends? Even in a bit of a heavier discussion? ;-)

 
Rookie

Why Effort is Never Enough (ten minutes)
https://www.youtube.com/watch?v=x9ouKclIiX4
Why hard work and control do not work for success in trading. Learn how to develop the mind that trades
--------------------------------------------------------------------------------------------
This morning's trading session took n extra 2 hours to make about 50%.
So why was did this happen today?
And yesterday I had my first losing session since the 20th.
WHats the matter am I losing my newly acquired edge? Exasperated I stopped and took a step back.,
Then after some reflection the dah and oh moment, back to trading.

What I realized was my morning habits had changed, Usually, I get up about 5 am and putter a bit then sit down to trade about 6 am which is after the market resets its direction. Then when I do my pre-trade analysis my mind is in the correct direction..
In the last two days, I started trading at about 4 AM. Now I was trading into the low pitot and continuing thru. Today even at precisely 6 am with the Nadir Digi I even circled it and said to myself this is the reset pivot. But my brain didn't reset with it.
So after som closing of rates and thinking ok that was it not let's see if the market will provide enough pips to make this right.

Now I'm back into the probability mindset and did weel the rest of the am. I didn't make it all the back to my new average but tomorrow is another session and there is always another trade.

Enjoy the process

5-6 London & NY Opwn Plot Trades.PNG 5-6 London & NY Open Order Stats.PNG 5-6 London & NY Open Ang Profit.PNG Stop Lightsd with message.PNG
 
Blake D

Are the servers down?

 
Rookie

Blake, it does appear the servers are still in maintenance mode. SHould be over shortly.

 
Rookie

Today's price action was a bit unusual, and from the attached TVC EU 1H chart it is not over yet.
This morning the EU usually reverses from the London session just prior to hitting the NY Open. Today it had a few spikes and went flat. then uncharacteristically continued bearish until 12 Noon EST. when uprose a might sword pointing to the north star and is now hanging sideways waiting on the DXY to make a decision.

My NY Open trade was from 1 AM CT through 10 AM CT at the end of the Trade Room.
I'm sure we all notice the 10 AM ET change in EU price action Shawn had to deal with. I have noticed that at that precise time lately the Equity move, could be a pattern. And Nate did well in his fav market pattern type a break-hook and go.

Attachments.
1 TVC EU 1H chart, decision time.
2, 3, 4, my NY Open EU rade analysis.

Be well traders and enjoy the process.

5-& NY Open Plot Trades.PNG 5-7 NY Open Stats.PNG 5-7 NY Open Avg Profit.PNG 5-7  NY Open thru 10 AM CT.PNG
 
Rookie

A very good day to trade. Freaky Friday can be a challenge with an unexpected large spike. Today was no exception with a 60 Pip EU move. Well maybe unelected, not the US equities decided to head north and the DXY conversely responded accordingly with a drive to the south.

Attached is how I saw and traded the day.

Bess Enerone and all, stay safe and have a good weekend.

Enjoy the process.

5 Essential Skills - Howell.PNG 5-8 EU 210 PM CDT.PNG 5-8 EU 305 PM CDT PM EDT.PNG
 
mike_smith

Very colorful. Thanks for the chart.

 
robunited

Hello, it's me again ;-)

With the definition of the Wobble, from the man himself.

What's the Wobble?

"A technique, the mechanism, to execute and build into a position 'prior' to the move you are expecting.
It’s not the strategy, it’s the technique you use to enter and exit positions."

Source: Shawn Lucas, Q & A, first 5 minutes: https://www.youtube.com/watch?v=Rsyy4fBKGvw&t=300s

------------------------------------------------------------------------------

The keyword here is PRIOR to the move you are expecting.

.... you build into a position, either long or short (direction independent) for that the move to come, and take you out.

That's why it often looks, or feels, counter trend.
Because you keep building into one direction, expecting it to move or turn, and then takes you out.

Expecting price to always go back to the mean, at one point in time, that would be the strategy,
and you can use the Wobble technique to enter and exit your positions.

On any time spam, from M1 to Daily ... as he also explains in the first 5 min.

That really should clear this up. Very good, those old videos ;-)

 
Rookie

Exactly Rob! a Wobbler you either build or fade anticipating the mean reversal and revision.

Good posting Rob!

 
robunited

Still not, not the mean. The 'mean' is the average of a starting point of your trades and where price can go, to end of fix it.

What you say would indicate that all trades can be left behind at or around the mean, even if price continues much further.

At one point in time, after that setup build mode ... you start to remove/off-set the trades, and don't expect the reversal to
the mean anymore. That might be too far away.

But you keep your position close to price, for any reversal, that pullback, to take all of your positions out.

The return of price to the 'mean' what you talk about, is your individual strategy.

The Wobble is the mechanism to enter and exit trades. You don't always exit at the mean ... many times, much earlier, and many times, much further away.

Listen to what he says ... you build a position 'prior' to the expected move. Whether long or short.

There is a complete fix it Wobble process which kicks in, if price just continues, and maybe NEVER comes back to the mean, but you are still out with break even, or profit.

 
robunited

If I, i.e. start fading at end of fix it mode, that is my strategy.

I never expect price to go back to the mean.

I just wobble / build into a position, expecting a pullback, for a few pips.

If that pullback doesn't come, I continue to Wobble and scale/build layers, for that pullback to come.
And remove my initial earlier trades, if I have to.

Nothing to do with the mean.

 
robunited

and now we are back to where we started.

and I thought this cleared it up ;-) lol

 
Rookie

Rob the thing is the waves are cyclical and measured in price and time cycles no matter the time frame.

Yes, full-cycle...)))))

 
robunited

Could it be that you have something in your mind about the mean, in terms of moving averages, coming back towards each other and are crossing again, at one point in time?

Or price returns back to an moving average, at one point in time, always.

 
robunited

Maybe, to better understand, what's your definition of the mean?

In the attached example, where is the mean?

Screen Shot 2020-05-11 at 6.02.22 AM.png
 
Rookie

Rob, on your drawing it would be midway between the top and bottom lines.

On the attached TVC 3M chart, I baseline chart is the heavy blue line.
Also attached is a TVC 3M Candle chart for comparison.
the last chart is the TVC 3M EU closer up

Now on the one minute chart when Shawn establishes the high and low of the range he is trading the line in the middle is the mean.
In the wobble, the mean as on all charts will move with the mean will locate up and down as the top and bottom of the rage moves.
Thus the wobble trades on either side of that mean counting on that range to hold, else as we know all when the discipline of closing losers falls prey to FOMO to bad cash management the results are not good.

3M EU Baseline chart.PNG 3M  EU Candle Chart.PNG 3M EU on close up.PNG
 
robunited

"Rob, on your drawing it would be midway between the top and bottom lines."

Ok.

Now, imagine my strategy is based on trend following. I enter short.

What does the mean have to do with the Wobble process/technique? I never want to go back to that mean.

But I can use the Wobble technique, independently, for any strategy, whether long or short, as a mechanism to enter and exit trades.
To build up a position, prior to my move

Screen Shot 2020-05-11 at 7.21.14 AM.png
 
robunited

A small retracement is always expected, price seldom goes down in one straight line.

That build area is Setup Mode.

And it stops, somewhere, not at the mean. It stops somewhere with structure on the left side.

Then it becomes Fix it Mode

The process is not based on the logic that price will return to the mean, at one point in time.

So far, following this example, the mean had nothing to do with the logic of the Wobble technique.

Screen Shot 2020-05-11 at 8.01.03 AM.png
 
robunited

Can you follow this so far?

 
Rookie

Rob, you said it your self, you fade or buy with the trend or momentum trade, I get that, NP

However, that is not a wobble.

"Can you follow this so far?"

Rob I know you have to win the discussion, so ok have it your way but I can't do this again.

 
robunited

I don't want to win the discussion, I wanted you to open up your mind, on the overall process, and go through the process, step by step.

We could have followed this through, step by step, starting with the simplest setup.
But if you don't want, I have to accept this ;-)

But then you can not say ... this is a Wobble and this is not a Wobble. I will not accept this.
That's way too restricted and only applies to certain strategies.

You approach it only from one side ... and only from your point of view for your strategy.

That is must be a horizontal channel and the Wobble is based on the logic that price always comes back to the mean.

Which is not correct for the overall Wobble technique, which can be applied as a mechanism for many other traders and
their different strategies.

The Wobble is much more open than you describe, that’s the beauty of it.

Allright, Monday ... new trading week. Focus on that. With that I agree ;-)

Wish you great trades this week, let's see where this goes. Everybody looking at how the losing of restrictions work out ... Germany started

 
Rookie

Hello, traders, I hope you have enjoyed the trading day today!

It certainly was an interesting day. EU hit the NY Open at its bottom and proceeded northward as its usual pattern does.
Around 15 minutes prior the unannounced US news started and the equities decided to head not also. Naturally, it is trade room time and it is getting to be the pattern. This trading room was a little different in that Nate traded for most of it, Not for nothing, I sure wish we could have two trade rooms, one just with Shawn and the other just with Nate, or maybe a third with both like we have currently.

The EU gave Shawn a little run for the money but the outside range was limited and Shawns technique soon prevailed. Nate, on the other hand, traded the GU and provided an excellent lesson for managing trade positions with his normal break hook and go another methodology. This is a session I will rewatch as I enjoy this method and Nate certainly has the patience to allow the setup to develop. Me well I'm still working on that aspect of mindfulness.

So coming into the session I have a good cushion established and decided to trade both pairs, something I seldom do because I have a hard time keeping track of both pairs at the same time also it is doubling the stress level.

As it turns out I had 6 GBP trades get away from me and lost 150 pips on that. The bad news is I knew the pair needed just a bit more room, I did the magneto thing several times but alas it would not work and by the time I gave up the trades hit the S, only to see PA return as I had thought was going to happen. The other much smaller losses on bi=oth charts at the end of my session amounted to a total of 30 pips, these occurred when I decided enough tradeing for the day and closed out. As it turned out and I would say at least 90% of the time PA always continues and I would not have needed to shut them down.

Overall 475 Pips (should have been 600 pips but not going to cry over the broken cookies.

Attached is my TVC chart art that I develop as the session starts out and progresses and my Alveo plot trades.

Stay safe traders and enjoy the process.

5-14 TVC 5M Session Charts EU & GU.PNG 5-14 Session Plot Trades.PNG
 
robunited

"Naturally, it is trade room time and it is getting to be the pattern. This trading room was a little different in that Nate traded for most of it, Not for nothing, I sure wish we could have two trade rooms, one just with Shawn and the other just with Nate,"

Yes, it was a great TR. And I have re-watched it today again.

It's very clear that Nate is Wobbling, but opposite direction, for longer runs / TP targets.

Shawn's Wobble is completely different.

Now everyone can make up their mind ... what style fits them better. Or how they use this to make it fit to their 'own' trading ability/style/system/trading mind set. There is no right or wrong. Whatever works for everyone individually.

-------------------------------------------------

From the 40th minute to 1 hour 7th minute ... Shawn breaks down, again, as he does so many times, how he Wobbles.

From consolidation to expansion, reading PA & structure, adding layer for 2 pip TP targets in high probability areas above turning points, layer after layer.

Meanwhile removing the trades below immediately, and adjusting the TP target lines up to turning points, continue building layers
... just for pullbacks to the next turning point, high probability take out.

Expecting 'nothing', no run back to the mean, no run at the end of the hour, nothing in his mind about bias, direction or call outs etc.
Just PA reading and following immediate structure on the chart.

At 1.07th min ... Has has a 'model' where the market does one thing, and his model tells him what to do next.

The Market can be upside down, it can be against him ... he doesn't care because he is a very "Task oriented trader'

And these were the tasks/procedures I wanted to go through with you.

I hope you review this TR again. You have seen enough of Shawns sessions, they are always the same, he always explains the same. week after week.

That's why it completely surprised me, that after 2.5 years, I couldn't put a correct Wobble definition together with you, or go through the steps/procedure of the process.

Something to think about ... how everyone interprets things differently, and just can't see what others see.
Even if they listen to the same thing for long time.

That's trading psychology pure, very interesting ;-)

I'm going to document these 27 minutes where Shawn summarizes and explains all this.

You have to give it to me, I have been a good boy last week and let you trade without further distracting on this topic, yes? ;-)

 
robunited

You know what would be great ... if Nate would also trade the EUR/USD, instead of other pairs ... in the same Trade Room session.

That would be very interesting to follow. Best with a split screen ;-)

 
Rookie

yes? ;-)
Pray you to continue...

 
FXGold54

Hey Rob U;

They actually did try that but because of different styles and TF's, it was a nightmare trying to explain why one of them was going short and the other long, why one was getting out and the other staying in, etc...

Allen

 
robunited

Allen, I can imagine the confusion ;-)

I personally would be able to see this separately, and just compare the similarities in building up positions and following the process of fixing the trades, regardless of the directions etc.

Having said this, now, as of today, I would be able to separate this.
But surely, not the first times when I enter the trade room back then.

Yes, you are right, a nightmare .. it would be a endless series of the same q & a, every week.

 
Rookie

Trading the EU and GU toady, Attaching the TVC 3M GU chart with running annotations.

EU was a very sim[le trade=chart today as it was basically just a few legs between the High and low, That said it would have been a good chart for e-wave folks.

5-19 GBPUSD NY Open 3M chart.PNG
 
Rookie

So I'm a tad late on completing my daily trading tasks for the NY Open,

It's my own fault as I some newbie type mistakes.
also, my trading could have followed my rules a lot better. I had hit my 1% risk twice and shut down my trades.
How did I do this, simple I got caught over-leveraging, one to maybe layers each time and price action jumped its range channel.
And then there was the FOMC minutes update which by itself wasn't so bad but the rest of the morning profit-taking was the name of the game.

I usually will only trade one pair at a time and that is EURUSD but today I had an unplanned interlude with GU and GJ. I was trading 3 different accounts because my night trades didn't turn until after the NY Open to close out. I switched to and fro between accounts I 1st got stuck with some GU trades and had to work out of them, then I got suck with a few GJ trades which worked out ok with just monitoring.

With my apparently lack of mindfulness, my EU trades suffered for my over-leveraging. So I hung in there until it was positive and all closed out.

I did my chores, went for my walkabout time to relax.

Enjoy the process.

5-20 NY Open to Lunch EU-GU-GJ Plot Trades.PNG 5-20 NY Open EU, GU & GJ Trades.PNG 5-30 NY Open Stats.PNG
 
josefpfister

Nice work, Rookie. It is when things are as you wish they were or you are not a full mindfulness that show what kind of real trader you are. In that respect, things worked out rather nicely I would say.

 
Rookie

Thx Jow, yes they did, 1/2 percent is better the negative alternative I was facing...:))

5-20 Equity bar.PNG
 
Rookie

Attached is today's chart, can't post my trades yet as I am still waiting on the final.
but the results so far look very promising!!

5-21 EU NY Open Chart Art.PNG 5-21 GU Chart Art.PNG
 
marco.cardenas.c

Hahahaha....The GBPUSD smiley face is probably one of the best things I've seen today, thanks for that!

 
Rookie

YW Marco, just keeping it light...

 
Rookie

Well I traded a bit too long today, not used to working an 8 Hr day anymore...
but as usual it was my own fault as you will see when if checking out my plot trade.
Yep, the market fooled me, no seriously it was my own lack of mindfulness.

So we had a trade room today, I don't know where I was

Attached are the usual items from me. when watching it, it was started, and then Nate was saying off to a meeting..
I hope the re-run person gets it posted sooner.

So attached are the usual suspects, I closed out of several GU trades to reduce the GAP risk however I have a lot of EU trades open..LOL With a little luck the dollar will drop a tad and the EU can strengthen just about 25 Pips worth and I'll be golden.
That said EU is in a bearish trend and about 10% into the south side of the 52-week range, this could be a disaster in the waiting making. We shall see what we shall see.

Kathy Lien wrote the following about the EU in today's round out newsletter,

We’ve been looking for EUR/USD to hit 1.10 all week and it finally happened today on the back of stronger Eurozone PMIs and weaker US jobless claims. However, after hitting a high of 1.1008, the currency pair backed off and ended the day well off its highs. The tides are turning for the Eurozone economy but like the rest of world, services are leading the recovery. While the Eurozone saw strong upticks in manufacturing and services PMI in April, in Germany, the region’s largest economy, the biggest surprise was services as the improvement in manufacturing fell short of expectations. Regardless, there’s been nothing but good news out of the region this week which explains the overall strength of the currency.

As all my opens are in the EU, this was not encouraging.

Well Traders it has been a fun-filled and exciting trading week enjoying the process.

Stay Safe and healthy.
-------------------------------------------------------
Dah, today os only Thursday, I lost a day and thought it was Friday, such a deal.

5-21 NY Open Plot Trades at 330 PM CDT.PNG 5-21 NY Open Order Stats at 330 PM CDT.PNG 5-21 NY Open Avg Profit at 330 PM CDT.PNG 5-21 NY Open Short Equity Bar at COB.PNG
 
Rookie

Traders, just above on the equity bar note that there are 250 pips unrealized, this late in the day with the Apiary rules one should keep in mind the 340 realized pips will be removed with the maintenance period with a net effect of drastically reversing the risk.

Points to consider when placing a hedge at this time of the morning on the other side of the globe. The Asain session is getting ready to close, Frankfurt has opened and London only two hours off. Why is this important? usually the price action for the day is about to with peak or top, mainly reverse its current trend.

So if the hedge is placed and PA doesn't cooperate with the traders attempt to save the trade...

Either way it's practically a no-win situation. Well, you get the picture, if not see the attachment.
===============================================================
3 AM CDT update, did what I should have done, at the maintenance period, and closed all at a 3% loss my absolute max risk tolerance.
Had I realized what would happen with the maintenance change this closing wouldn't have offset yesterdays profits nearly as much,
===============================================
in the final look at the math and psycoligogy of this not so good outcome of the trade.

Had I closed out prior to the maintenance;
better yet early in the session when price action clearly had changed direction closed the losers and not expecting any retracement but fully changed my bias not hedging.
I would have been positive about .40% In fact I would have closed out by the maintenance period up about or greater.

However with my lack of mindfulness and trading what I see, I reversed the odds and produced a substantial equity loss.1%.

and that's the subject of the last attachment.
=====================================================================================

ignorance is no defence of the rules.

Double trouble 115 AM CDT.PNG The Story.PNG When I let go....PNG
 
Rookie

Having had a pleasant weekend to clear my head and get my focus back to mindfulness.
Give the slow nature of the market I traded about 50% of my norm, so I'm ok with that.
The attached images are of today's NY Open, I traded a little during Jeff class which if you get the chance to catch the rerun might be helpful in understanding current swings.

1. Not: on the Alveo chart I change my CCI to reflect a simple center line and no top or bottom.
and I added back the 13 & 48 EMA's for moral support or my price action crutch.

2. On the TVC chart, there is a big change and testing some new items for me.
a, the addition of the MACD to replace my CCI, with the EMA's set at 13&48.
b. The addition of the Fibs to both levels of the chart for the channels.
While I do not trade fibs but S&R I do think they added some context to the chart art.

I hope everyone has a great Holliday!

Enjoy

If you do not change - Dao.PNG 5-25 NY Open & Trade Roon.PNG 5-25 TVC NY Open & Trade Room.PNG
 
mike_smith

rookie, I don't know why you're piling up the lagging indicators, don't more lagging indi's decrease risk control? I thought you JUST posted a comment that a trader should focus on price action.

2020-05-25 08_58_22-Money Management To Generate a Long Term Income _ Apiary Fund.png
 
Rookie

Thanks for the look over and This is true Mike. perhaps I'm not at the level of price action reading yet.
Perhaps psychologically Fridays equity loss took a lot of wind out of my sail.
It was large but not devastating, it did take 1/3 of my equity increase this month, that's is bad trading.
Yes it's only a few trading days since the 2oth sweep bit I tend to be emotional about this type of thing.

Sometimes it's better to take a step or two back in order to regroup and move forward with better headspace.

So my new target is to learn to trade with No take profit target, just let the trade run. This is something Brian is so good at. I have tried it previously but with little success. Today with the EU it was not the day to be testing. I traded most of the day with just the CCI and added the EMA's at the end. The TVC chart is a test with a friend in chart content. But I'm liking the MACD with the embedded EMA's.
That's said a higher time frame of say 5H or higher I will test the PPO with the same settings. As the literature says it will provided more detail of the price action.

Enjoy.

 
Rookie

Getting my mindful grove back.

NY Open Chart art.
This session finished up just over 1% with 59 winners and zero losers $1.85 Avg Profit.
I missed the last sown movement, had company stop by... came back in, and got out with the lack of any liquidity.

Enjoy

BTW, when re-reviewing my chart, looking at the price action sideways line, I'm thinking there was a leak, and the big boys went stop hunting before the rocket launch, fuel for the moon short...LOL

5-27 NY Open EU.PNG
 
mosbrook.rob

This week I have tried a new system and just use the direction of the market with basic analysis. In the two days using this has changed a lot of the way I trade. still in test mode but today cleared almost 600 pips today and 150 pips the other day on 15 to 20 pairs. If the probability of direction is in question then I skip it. so far it is working for me.

5-27-20profit .png
 
Rookie

mosbrook, thanks for the share, pips are good they make consistency, after that, it is sizing.

PS, I still think you have a way to many indicators on the chart....:)) just saying.

 
Rookie

Back again, I hope everyone had a safe weekend!

My POV os the morning trade set up, then as the price action unfolded.

For my trading, its channel legs trading what we see, Pips for consistency, slightly varying steady leverage.

6-1 NY Open thru Trade Room.PNG 6-1 NY Open thru 11AM CDT Plot Trades.PNG
 
Prosperity

Working Wobble toward the Gold as my main tool

 
jan_1

Great trading Rookie!

 
Rookie

Thank you, Jan, appreciate you chacking the post out and commenting.

 
Rookie

Today was not such an easy tradeing session for me, Apparently my focus was straying more often than not.
I was good by the time the NY Open happened and most likely should have excited but oh no its early yet, trade on McDuff. , then da... lost it all... ok to get out or hang in and work back to break even,
Well, that's not really a decision so early on in a session. (I know I'll blame it on watching the CATT class).
Ok, I worked my way back and at 9 AM CT decided I had enough, Made it back to a + 117 pips and,20%, moderately happy.
Then from 9 AM thru 11 Am the market continues to run another 30 pips, with my system that would be 5 layers of 25 pips...
Of well can't remorse over the trades I did not take.

What moved the EU this morning, mostly continue traders continue to put cash in the equities, Teh ZIX when from positive to negative and back again then back to the south once more. Aside from the news, I think the ZIX was the biggest reflection of price action on the EU this am.

So my take away for this trading session might be quite when your ahead.

Enjoy.

6-3 chart art.PNG 6-3 NY Open Order Stats.PNG 6-3 NY Open Avg Profit.PNG CNBC Futures this Morn.PNG
 
Rookie

I didn't place my overnight trades but went to bed only to rise a bit early at about 3 AM... LOL
Looked at EU and decided its risk on as EU was nearly causing a ripple in the PA stream.
So gee its 3 am and can't go back to bed, the market is basically on cardiac arrest, so I do some research and occasionally place a few trades. Stopping at 5:30 for food and the NY Open to setup. There is some EU news on deck, better safe than sorry. Equities are all gree with the exception of a flat RUS, methinks there is some volatility coming about 7 Am CDT currently with the NY Open its a chop-chop zone.

Attached is the early am plot trades. My Take Away here is what's out for overleveraging.

6-4 LT Session Early Am scalping Plot trades.PNG
 
jan_1

Nice going Rookie!

 
Rookie

Jan, YW but you could have seen my news trade!!!

This is where I paused and then went on... not posting it, cause it would surely go to my head... and traders might get the idea I was bragging... I just got lucky and nailed the swing. (yes, different accounts)

someday I might become a pro at this stuff. just saying.

6-4 NY Open News Trade.PNG
 
jan_1

That is so green it hurts my eyes LOL

Keep up the good work.

 
Rookie

Morning Traders, so I had a few slump days and needed to regain my mental composure.
As Mr. Hull has shared when that happens you reduce your risk by cutting you sizing in half, As I usually trade a .05 or .06 I reduced it to,03 and then .02 until I got back on track.

I'm done trading for the day, not a lot of money at .02 but plus 200 pips sure help my feel-good mindfulness.

Attached are the plot trade charts with my TVC chart. Also attached is the Avg Profit for this session which was from about 6 Am to 8 AM, food time.

On the TVC chart, I added the session colors for some viewer clarity. The Orange lines are to point out divergences and not the subsequent price action changes.
there is a to of consolidation boxes along with the most bullish trend. For a scalper or higher time swing trader, these are very good observe and then enter the breakouts with a layer of trades because that is when the momentum is making its power move before fading to the next consolidation.

As this is a risk wait day because of the news and upcoming Powel speech.

6-10 BY Open to 8AM CDT Plot Trades.PNG 6-10 NY Open Avg Profit.PNG
 
FrankS

Rookie, have you ever tested the combo of BBand and KBand for squeeze conditions that have the potential to pop. If so, what timeframe do you find works best with that type of setup? BTW, it is a short-term swing-type of setup with a breakout potential.

 
Rookie

BBand yes, K Band no, I do like the squeeze, its a great move, I changed it to a 13 and 48 MA, seems easier for me to follow,

 
Rookie

Well, I said I was done for the day, I changed my mind. It was rainy and windy and chilly, so what's a trader to do. Yes, trade of course.

This AM when I started trading I place a few set-it and forget it trades, they would be the long lines on the plot trade chart.
Later on, when I stopped above I checked on my trades, ugh not do hot so I place a few shorted targeted trades, and Again next time I looked in. Then said to self, just let it go and get your chores done. Chores are done and its time for the news the really big bar on the chart. I have suggested to a friend that he place some stop trades and pick up a hundred pips. So I did the same my self, a few stops to the south and a few stops to the north, IE a bracket.

The news hit and sling south with huge whip north, well all y trades were now closed and its time maybe to play the slingback toward the mean, at least a 60% retracement. So I pile on some trades... this is where I almost blew it. I hadn't noticed that Powel was speaking 30 minutes after the news... That gives the big money time to run the price up before that retracement, which is exactly what happened. Scary indeed as all my newly placed trades were shorts. Fortunately, I was trading a small .03 lot and a PA only hit my kill zone once, hovered and fell back, and gradually proceeded to retrace after Powel finished speaking.

So some may look on the results and say good on you but I know I should have been much better, why. Because the early trades were with a no TP and I closed them early, Which I also did on several other run-up trades. Providing more income for the dang broker...

While it all worked out in the end, So what's wrong with this, I didn't follow my plan by closing trades early and not allowing them to run with price action.

Just check and still can't get my walk in, oh well maybe its for the better.

6-10 NY Session 9-2PM Plot Trades.PNG 6-10 NY Session 9-2PM Order Stats.PNG
 
robunited

"I hadn't noticed that Powel was speaking 30 minutes after the news... "

That's a schoolboy error. You know that the numbers/news are one thing ... but the half hour speech later, price swings and turns into all sorts of direction, everyone hanging on the lips and every word said by Powell, second by second.

You don't have to trade the news, but you always have to be aware what kind "scheduled" news is going on right now when you open new trades.

Red check box in your Trading Plan for this trade ;-)

 
Rookie

yep, Rob, that's why I'm just a rookie... but I'm learning and moving forward, my new word for this is kaizen,

Kaizen Chang-Good.PNG
 
mike_smith

Like mycandlecharts Kaizen? Do you listen to Syl Desaulniers Forex Focus? His predictions are terrible. He sent my account straight to the crapper every week (demo, of course not real if it doesn't work). I stopped listening to Forex Focus. Nison is good though. I listen to him.

Rookie, are you in the FXGold54 Kaizen program as well? I see you follow his trades. How is that working out?

 
Rookie

Hi Mike, no never heard of that trader. For the most part, I no longer watch any trader outside of Apiary.
I only focus on Price Action podcasts. So I occasionally catch a Raynor because he treated pice action and his videos are short and to the point.

I will also watch some index, commodities, and futures stuff from Paul Robenson at FXAcadamey because that's an area of interest and I am learning the lingo.

Allen is great and yes I am a member of his group. However, I don't often do his trade method because of the time of night. For my health reasons, I am sleeping then. But I would highly recommend his program and Allen personally has much to offer even if you just watch and learn. His adherence to the rules is second to none. And his process of developing a winning trade is the best here.

That said Lindsey is awesome, I glad he shares and would be most delighted if he did more often but he still works full-time gig.
For older silent traders Hack has supper posts and a few great threads.

For you, as a programmer of statistical analysis, I would urge you to hook up the Jeff Crystals class and group of rader-traders. There are a few really great, at folks that are into programming including a rocket scientist that was the first to be funded using an EA that he wrote.

Lately, I'm into learning mindfulness and getting out of myself, learning self-control, and walking. It has been said there is more to life than trading, I'll let you know what I discover.

 
mike_smith

Ha, thanks for the reflection. All great points.

 
Rookie

So I have been re-learning to trade small for consistency and to close my looses early. This has not been an easy path for my aggressive lack of patience self. However, this week was good for me and I am quite a bit further along the path.

The attached trade from today's NY open shows how I almost blew it. I started out with a buy bias, obviously, over 50% of the session was short, so I kept trading long when I could get in a trade. I quite at noon because the momentum was gone but the pattern that developed was not completed however I closed my remaining losers anyway. Exactly 1 hour later the pattern after a move south did return not and complete the pattern. Had I gotten out early on the losers I would have availed the 7-8 pip loss each carried and some stress over the dang hours I help them open.

One item about the news these days which I fail to comprehend is the DXY. We had a not of posted negative news today and not very good virus releases. Gold had a field march to the north and the dollar rallied north until 11 AM EST before plummeting south, gold continuing the forced march. So I understand the money moving to gold in the light of new economic fears which included more rhetoric from China, but the DXY can not understand the rally. So my current conclusion is that because the DXY is mostly EURO's and GBP two events took place, 1st was the usually London reversal and then at 11 AM the EURO banks started the pulling out of the market while the gold buyers moved money initially from the EURO to gold and then from the dollar to gold causing the V-shaped pattern.

Have a good weekend trader,

6-26 NY Open Till Noon EU Combo Chart.PNG 6-26 NY Open The Pattern till 1pm EST.PNG
 
Rookie

If you trade the NY Open this podcast is for taking better quality trades and more pips in a run.

Alex, share this trader with us and I have been checking out a few of his podcasts.
This one, in particular, is what I trade every day. I may vary the NY Open trading time a bit depending on how the London session is emerging with the NY Open but Stacy is right on and I'll be tuning up my NY Open trades.

12 CANDLE RULE For Forex Stop Hunts And Market Opens
https://www.youtube.com/watch?v=HJv2RkUzkdo

The two attached EU & GJ, are 1H charts with sessions on the chart. The tan horizontal is the London-NY Open overlap.

6-27 EU 1H with Sessions.PNG 6-27 GJ 1H with Sessions.PNG
 
Rookie

This morning in the EU, what happened according to me!

This is the normal daily pattern theses days,
However, the EU hit the higher a little later than usual. Then went south to the low pivot of the EU Session.
Where the EU proceeded smartly upward.
I trading calls for me to exit at 10 AM EST (9 AM CT) and I did.
Today I followed my rule and did exit forgoing the pressing of the PMI news run-up.
Could be that's why I'm still a rookie.

That said its a green day and any day that's green is a good day..:)

7-1 NY Open Daily Pattern to 9AM CT.PNG
 
estherkarina13

Thank you all for sharing your experiences, learning and strategies, they turn out to be a great contribution to the development of the Apiary community.

 
Rookie

@estherkarina13, Thank you, Thank you very much, I appreciate the gracious feedback.
Some very peaceful music for you.
https://www.youtube.com/watch?v=hrHCx8UeYKw&feature=em-uploademail
---------------------------------------------------------------------------------------

So Today's trades were awesome, can't do this every day but I am a rookie yet.
First off I get up at 4 AM CT and by 9-10 I'm done for the day. Today I could have pressed for another 2% on my account but just didn't have it in me So I stopped trading at a decent jumping-off point and watched as the money moved into the equities and out of the EU.

I must admit I also have a great deal of fear trading in front of President Trump's news conference. :))

The first attachment is TVC as I saw the session unfolds. However, the greatest portion of the drive south was after I stopped trading.

The second attachment, my plot trades was very interesting, I traded in my long term account, and this is my short term account. What is really keel about this trade, I used 99% all Sell Stop orders. Yes, I occasionally looked back and sometimes add another layer but for the most part, this trade was a set-it and forget it scalping adventure.

Be safe and stay healthy all, wishing everyone a great good old USA Independence Day weekend.

You're wonderful.

7-2 NY Open .PNG 7-2 NY Open Sell Stops.PNG
 
mike_smith

Hi Rookie,

do you know what happened to Curtis Cooper? Seems Pyne took his 'Trading Psychology' class. Did Pyne replace Curtis?

BTW I like the new Calendar. More green classes and less premium. Now that I have a higher probability directional tool, I like to spend a lot more time on risk scale sessions. Like 'Kevin's Trading Partner Room' and 'Money and Risk Management Class'. I guess I'll be listening to Pyne a lot.

2020-07-02 08_27_09-Calendar _ Apiary Fund.png
 
Rookie

Mike Kevin, is good and learning more psychology all the time, he is taking some college on this and I think just got his Masters.

as for Mr. C, I really do not know any details. But he is regrettably no longer with Apiary.

Agree on both calendars!

 
robunited

"Kevin, is good and learning more psychology all the time, he is taking some college on this and I think just got his Masters."

I've not seen Kevin trading ... but a week ago I clicked on this Money/Risk Management class.

You can see his level of understanding and how far he has developed.

There was one quote he stated in this presentation.

"We are not traders, we are risk managers".

I've heard, and always remember, this quote years ago. Just can't remember who said it or where I've read it ;-)

But it always stuck to me.

And now, years later ... it's still the only valid thing in trading.

Strategies are good ... but they alone only will never ever carry you into becoming a consistently profitable trader.

It's a good presentation to listen to: https://apiaryfund.com/training/discussion/money-risk-management-class-0

----------------------------------------------

On the same topic, Shawn popped up again on my YouTube suggestions yesterday with the Benjamin Formula.

I re-watched it ... all the same things: https://www.youtube.com/watch?v=EKm4MBVPyeY&t=27s

All the successful traders will tell you that this was the tipping point in their trading career.

 
Rookie

Trading the EU today was a bit slow but not totally uneventful for +204.8 Pips.

Attached is how I saw the PA play out and as usually drawn as it happened.
Note the horizontal lines are drawn first thing in the AM.

Happy Independence Day to all, no matter where your from or live!

7-3 NY Open EU Trade.PNG Fireworks.PNG
 
Rookie

Today was a great day to trade from the low of the London session.
Attached is the Eu with a 50 Pip measured move from the breakout
and the GU with a 100 Pip move.

The break out occurred at 8:30 EST with the change of sentiment in the futures.
Also, today is the influential 10-year bond rate.

7-8 EU & GU Measured Moves.PNG
 
robunited

These are the charts and analysis.

Where are the actual trades? ;-)

 
mike_smith

good follow up rob!

 
Rookie

could be the message is in the structure-context and not the trade.

Suns Focus - Alexander Graham Bell.PNG
 
Rookie

Ok,
More importantly, is the trade structure depicted in the attachments.

I slept in a bit and missed the early morning move.

I do my morning research and conclude from the equity the market is very mixed and the charts confirm the same as the price action is neither at the top or bottom of the daily cycle, not even the hourly cycle.
Thus concluding the best course of action is have another cup of coffee, listen to Jeff, and wait on the market and the news for direction.

This was very hard for me to do because I simply want to get into a trade and earn my keep. This is a psychological problem for many traders.

So today with zero losses and +135 pips my decision was positively reinforced.

7-10 NY Open Setup EU & GU.PNG 7-10 New York Open Plot Trades.PNG 7-10 Avg Profit.PNG
 
broslansky

@rookie,

Good call! Wait for the market and ride the wave.

Last night in the Gold Diggers' Trading Room, FXGold mentioned to enter a weekend on a good note, which included to NOT do anything stupid like force a trade that isn't there.

Have a great weekend!

 
Rookie

Thanks, Bro, U2 stay safe, stay healthy.

 
jessLean

Good Catch. Have a great week end.

 
gmsk134

I relate to relying on hopeum. Good way of putting it, but a bad place to be. I find it hard to take a 8-12 pip loss, and almost find it harder to let a winner run for 30 or more pips. I also enjoy this process.

 
Rookie

Recently I have been watching Stacey Burk podcasts. One of the analysts he stresses is the even numbers, mostly the zeros. This morning in Kevin's TOTS class he trader the EU, this is a great example of the zeros and the pivot that occurred just after the class ended.

He went long at the 1.5500 we then had a stop hunt and up the PA went!

EU Kevins Class.PNG
 
Rookie

This morning we saw an interesting setup and then sell off pattern.
First the normal London to NY open slide, then the NY bounce to a bullish trend.
a short sideways waiting on the equity market to open,
Then boom equities sell-off, Gold sores and return to the bullish trend.

It's great to trade price action sometimes we need to remind aware of what is happening about the market.
"Follow the Money"

I have also added Kevins Stoch to my chart in an effort to obtain longer runs. So far so good on that.

Enjoy traders, stay safe, and have a great weekend.

EU 7-24.PNG EU & GU 7-24.PNG
 
Rookie

A good summertime refresher from our only master head trader, Shawn.

Trading the Summer Doldrums
https://www.youtube.com/watch?v=IecDznKBMWw

 
Rookie

Morning Traders, I'm done today for the second or third time. We did ok,

However, this post is about our bias and the clouded mind. In the movie called the Shadow this is a very real part of the show, "The Clouded Mind Sees Nothing" Often when I trade I feel that way.

That said I also have a short sell bias, while I would prefer to wait for the bounce and when I have it has been very successful but changing my method bias is a challenge.

Sunday I posted a Bearish DXY analysis setup for the week with a potential pullback and bounce. IE the EU continuing its bullish run.

The attached reflects when I got up about 2 AM with my mode looking for an EU pullback and a short sell, as you can see that was not successful. Then I waited for a bullish move and proceeded to do the sorts, this recovering.

Getting up a few hours later, my bias had not changed but clearly the EU continued it math to the north.
Then I read Lindsey's post of going long and being up a considerable percentage.

Dah the light build goes off to change my bias and go long. As you can see with the last group of trades it was successful and the avg profit doubled because I increased the length of the trades.

However, my point is how hard it is to change bias.

Just a thought to ponder.

EU 7-27.PNG
 
FrankS

Rookie, I feel the same pain quite often, but it's getting better. The sessions and the dynamics of price within those sessions, in my opinion, need to be used so as to filter that bias. For example, I would normally be looking for a short on the Eur/Usd, but the London session stayed mild relative to the Asian session. Moreover, the price stayed above the Friday high which was last week's high of the week, which was further significant. And the Asian session did a rather unusual thing by showing a greater range. But right after the first three hours of the London open, the market broke upward. So, now I am beginning to appreciate all the more how and when price reacts between as well as during the early session hours.

And now the US session has completed its first three hours leaving us with the possible recourse of a test of the lows later today or tomorrow, at least to gun the stops in place. Then again, as the song says, "Monday, Monday. Can't trust that day!" LOL.

Forex Sessions - 20200727 - EUR-USD.JPG
 
Rookie

Thanks, Frank,
we may yet have a pullback but I'm thinking not yet.

 
FrankS

After the London breakout, the upward pushes came in a series of three impulses by the close of the US three-hour period, which is also significant. Nonetheless, I have no illusions that anything with the markets is etched in stone, but I have to admit that this one is playing out according to the probabilities of the Burke studies, at least so far.

One thing for sure, the previous day's high/low and previous week high/low are key. So, I watch price action at those levels. And that was not Burke at all but what I learned trading futures and reading Gann.

Still, since I do not see any pin bars at the US session high of the day, you may be right regarding a possible run back up to that level.

 
Rookie

You got that right, as in my post, I caught 2 of the three push pullbacks and one portion of an upper.
In this case, as the saying goes you get what you pay for, sometimes the premium is well worth the extra expense.
Frank your a much better study than I am, I appreciate your insights.

 
FrankS

I consider that a giant compliment, Rookie, as you've helped me see daylight many, MANY times!

FYI, I'm trying to get better at reading the Forex price actions somewhere between a scalp mentality and a long-term mentality. My punkin' head tells me there may be a spot for me there. LOL. Not sure how much that will need to change once I leave G1. Time will tell as the ole saying goes.

 
Rookie

Thanks for the kind words,
I only pass along what Apiary has thought me, well maybe a few outside podcast also.:))
Burton referred to me as a parrot.
However, I think I have finally learned the meaning of, the slow way is the best way and to that end, I now trade small.
pips are for consistency and sizing is for the money.

So my thoughts on the different trade time frames.
There are many paths to the same goal, and I have traveled more than one in my brief time as a trader,
I have settled on two methods of trend following no matter the time frame,
1. is the break, hook, and go, which covers about 100% of my trades.
2. the other is Kevin's pyramid, this is most definitely a WIP. Recently it has worked well for me but my trades are mostly scalps so I don't get the chance to really need this fix-it per. However, as I trade a 1H chart or higher I'm sure it will become an essential fix-it tool rather than just close the losers and start over,

 
Rookie

This is a Rex, made a video about 11 pm NV time for two hours.
It was posted on the calendar but never showed up on mine so I think it's ok to share.
Very laid back, no pressure trading in a slow market. Rex shares his risk management of opportunities as it rolls out.

https://apiaryfund.com/calendar/2020-07?event=60299&d=0#calendar-event

Thanks, Rex for taking the time and effort.

 
Rookie

The Trading Day is far from over but for me it is, I love it when a plane simply works and the market corporates to maybe I should say the market corporate with my plan.

Got up and did my AM routine, looked at the market, and said WoW, London thing and it's coming down to a NY Low.
Normally I would trade it down but today decided to wait for the bottom and trade my plan.
As Jeff's class started I stated the EU hit bottom and was ready to bounce.
I placed a few Buy Limit orders and several sell stop orders at .01.
Then I just waited.
As the market swung up I did a few 5 and 10 pip scalps with eh trend!
Presto for me a perfect trade day.

I got out with the Equities open and the expectancy of some big swings today.
Prudence or chicken shit, My risk aversion is kicking in.

Plan your trade and trade your plan! as the saying goes.

Enjoy Best to you!

7-29 EN NY Open Combo chart.PNG
 
FXGold54

Nicely done Ed :)

"Plan your trade and trade your plan"...this is so true as traders are often tempted, and lot do, to go off-script.

Allen

 
Rookie

Thanks, Allen. this is something you are something of an expert at! Thanks for shareing it.

Update to my above trade, "Oh ye of little faith" yes I'm talking to my self.
Target was achieved, no big reason for all my fears.

And EU is off to the next level, but not for me.

Target Hit.PNG
 
Rookie

This is a repost from another thread this AM.

Stacey Burke did an excellent presentation today along with Reyner Teo

5 Things To Look For Before You Place A Trade (Price Action Trading Strategy)
https://www.youtube.com/watch?v=8hM18AHcUCs&feature=em-lsp

Brk really hit on why I watch for the NY Equities open.
SIMPLE FOREX TRADING - THE IMPORTANCE OF THE EQUITIES MARKET HOUR
https://www.youtube.com/watch?v=z3j4c4wUPg4&feature=em-uploademail

Hopefully, you all can enjoy these podcasts.

 
keithtravis

Thank you for the link!

 
Rookie

YW Keith. BTW love the linguistics attitude. I'm a big fan of languages, word, music, math, etc.
-----------------------------------------

10 am and I'm done for the day.

What I saw today and traded this AM. For me, it was a had trading session, ended up green but was a lot of work.
It was hard for me because the overall trend is bullish but the bearish move from the London session is extended the bottoming. One Item of note which I learned from Burke is these measured moved of 25, 50, 100 pip.

Also while we can not see it on this chart if I widen it, the pauses correspond nicely to the far right moves.

Hope you all had a great day trading, Wishing everyone a stay safe and great weekend.

Enjoy.

-----------------------------------------------------------
PA, Eu finish up the week 30M chart, almost a perfect 1st half of the "W" I took a few long positions guestimating a gap down to Sunday open. Not this is a highly speculative trade.

7-31 NY Open EU.PNG 7-31 NY Open EU Stop Bias.PNG 7-31 EU finish the week.PNG
 
mike_smith

@Rookie

"1. is the break, hook, and go, which covers about 100% of my trades."

Can you tell me more about that?

 
Rookie

Mike in the Apiary Library its called a bull or bear pullback, however its also a momentum trade.

Draw your trend line draw the support & resistance lines.

Let's say you have a bullish trend.
when the price action pulls back across the trend line and bounces that's when the momentum kicks in and you enter the trade.

If the pullback breaks the support line then you have a legitimate break in the trend and a reversal trade might be appropriate. However, I tend to stick with the trend.

What does a Break-Hook-Go look like.
https://www.tradingview.com/chart/EURUSD/MOURdG1o-What-does-a-Break-Hook....

Let it center Break hook go
https://www.youtube.com/watch?v=6Tj1MPZmq8A
Proact has many podcasts on this type of trade.

Good question, thanks for asking,

Stay safe, Enjoy.

 
mike_smith

Thanks! I'll look into this.

 
Rookie

TEST

 
sgeathers45

test sat

 
Rookie

thx

 
Rookie

Very Interesting and testing trading the NY Open this AM.
For those that watched the trading room, it was quite evident.

So I stop trading at 10 Am and a few days a week I have a 10:30 AM class and I hate to leave trades open.
Doing my pregame checkup this morning it was obvious the EU had not bottomed out and was going sideways.
After an hour or so my thoughts were this is heading south, it did! Then after I stopped trading it went north.
Not the pivot low with the pin bar and engulfing candle a sure sign of the change in direction.
After doing my p[lot trade sure wanted to kick my self in the ars, for not placing and buy stops, more than 50 pips that someone else received... Same on GU just 30 minutes later. Oh, this happened yesterday as well, I actually felt guilty about not taking the trade and watching it, almost like here is a gift what's the matter with you, get to work. Funny thing our mind.

AS a note about this morning news, if you were in Kevin's class the PA move was delay exactly 15 minutes. I have noticed this is happing a little more frequently these days or if the PA jumps off there is little to no whipsaw. Tomorrow's news should be interesting to see how much is already built into the price.

attached is my plot trades for the NY Open till 10 AM, looking at the chart it's hard to figure I actually had a decent green day.

Enjoy the process.

8-6 NY Open till 10 AM.PNG
 
Rookie

NFP payroll day, turned out as sort of a dud.
Also had a great special Shawn TOTs class this Am which included an hour of a sideways market...LOL
However was very educational and informative.

SO my trading thru the Non-Farm was good but I managed to give some back by placing several set it and forget it buy stops. Overall it was a green day and any green day is a good day.
----------------------------------------
I'm also attaching the PIPS for the week.
Most every day is green one day is not and it was a big loser.
and this is the example of why I am attaching it.
I have worked hard all week every day but made NADA because I had an I'm going to be the right day no matter what.
Maybe, NOT the best BIAS to have.
---------------------------------------------

Traders stay safe and healthy, have a great weekend!

Next week is yet the opportunity For One Good Trade!

8-7 NY Open till 11 AM CDT - Plot Trades.PNG Pips for the week..PNG
 
Rookie

Today was a green day so its not all that bad.
But was it one good trade? no way. and this is why I am posting.

Why well, you know the old story, it's coming back, well maybe and then the question is when? Can we withstand the potential drawn down? Which way is the trend? are the losers in question going against the trend?

On this trade, my max draw doe was 1.40% so I was getting ready to shut the trade down, but then a brian fart, just close the losers and get back in, so that what I did. TWICE!
However, I shout have finished up some time ago with 500 Pips and 1% equity gain...

So tomorrow is another trade!

I hope every one traded better than myself today,

Enjoy.
----------------------------------------------------------------------------
I had shared this trade with Kevin, he was very kind in presenting a class about Disposition Bias.
I. E. my trading error displayed on this plot trade.

Trading Psychology Class, Kevin Pyne
Date: Monday, August 17, 2020
4:00 pm America/Chicago change timezone
https://apiaryfund.com/training/discussion/trading-psychology-class-6

Thank you, Kevin.

8-17 Sunday Open thru NY Session.PNG
 
mike_smith

Rookie, could you tell me really fast how this parameter works? Why does 'Bull Price Cycle = 0.00087" when "Period = 3" and when I change period to 5 the bull price cycle is 0.00398.

2020-08-18 13_28_25-Alveo.png
 
Rookie

sorry Mike I can not, no clue it is not an indicator I looked into.

 
mike_smith

Ok.

 
Rookie

Awesome trending day today, Shawn up over 5% on the day and Nate with an excellent example of his bull pullback strategy.

I had two trades today, this post is about my trades during the trading Room. I had to leave about 1H 20M into the session and placed a few longer bullish trades. I love trending ranges.

The Plot trades are the trade room only, the equity bar is the combined NY Open

All trades at a .03 Lot sizing, layers done in 3 & 4 trade increments.

8-20 Trade Room.PNG
 
Rookie

This trade is my NY Open trade from 7 am to 9 am, CDT.

The quote is from James Clear's newsletter today, it reminds me of my learning at Apiary.
And the value of keeping a log, every day no matter what, Kaizen.

Avg Profit #1.PNG You Could - Collison.PNG 8-20 NY Open 2 Hrs.PNG
 
Rookie

Combined session NY Open and Trade Room

All trades at a .03 Lot sizing, layers done in 3 & 4 trade increments.

Love trends...

8-20 NY Open Combined.PNG 8-20 NY OPen thru Trade Room Equity Bar.PNG
 
mike_smith

Cool.

 
Rookie

Thank Mike, can't do that every day... at least not yet.

 
Rookie

Trading the London open with the news.

So woke up at the London open and decided to stay up and trade wasn't tired and news coming up. Read Allen's post and summary, thinking maybe there was some opportunity for a good EUR and GBP trade!

Got out about 4:30 AM when price action stall and went sideways preparing for the NY Open,
I must admit as my goal and target were approaching and the GU started to falter before the last push I was a bit taken with FEAR of losing what I had just earned.

Love the Trends, sort of removes the risk.

8-21 London Open Plot Trade.PNG
 
Rookie

Hart art for the day from the London Open resistance zone.
The way I saw the price action.

Pointing out the two EMS moving steadily south with expansions is a good trend clue.

Hoping everyone has a safe weekend.

8-21 Chart Art.PNG
 
Rookie

This is a good Plot Trade for the don't trade like me.
The TCV chart is where we left off on the Friday closing bell. Note the price is at about 1.17950.

The weekend goes by, and its early Monday AM, I check the need and NADA today, brian say on no rouble ahead it's a Trump day. I start trading off to a mediocre start. then hit-1% and closed out and started over. Things went well and made most of the 1% back then, what's going on here. Checking equities, I see news Tramp and virus stuff, the market likes it and the dollar takes off, conversely, my trades head south at 2% I get out. Maybe the best thing I did today. Trader insurance against a bigger loss.

During the march to the south, PA pauses at 1st support zone where it started from but then continues its march to the next one, EU a 50 Pip march and GU a 100 pip March.

Friday in another thread I stated that the EU was going to make a bounce before it changes and returns to the north to Alaska hike. I have that in my head and thought we had that early on which made it hard for my sub-conscience to change my bias. So not I have left off with .75 lots of bull stops in place. You can't see them all but my revenge mind says it will bounce and I want my pips back... time will tell and tomorrow I'll post the finish.

In hindsight had I followed the chart even after I closed out there would be a profit right now.
The lesson, being more mindful and trading what I see not what I think.

8-21 EURUSD Fiday At Close Close.PNG 8-24 NY Open Plot Trades.PNG
 
Rookie

yesterday, the post just above, I closed all my losers at -2% and -600 Pips, While I have made all the pips bak I still need to earn almost 1% equity back this NY Session to break even for the two day period. Why an equity imbalance? yesterday I traded with a .03 and this overnight with a .02.
Yes, a lot of work and a little stress for allowing such a loss.

I did indeed use what I thought was a small stop at between 10-25 pips for EU & GU trades, however, that was certainly not good enough as yesterday I fought the trend, it's coming back. However now my POV is closing losers sooner is buying insurance against bigger losses.

I had said to a fellow trader about noon yesterday and digested with my trading, I'm just going to set a bunch of buy stops and let the chips fall where they may. I was counting on a pattern bottoming and a reversal to complete a "
v" Pattern. Looking at my plot trades that is exactly what took place. I closed the EU when volume passed getting ready for the NY Open and the pattern was completed. But the GU also paused then continued to complete the pattern, but I had used the red X to close all rather than trust it and wait.

I had placed,70 buy stops and as I periodically checked on the trade would add a few market orders bringing the sizing to,84 positions.

So why did this work, the overall trend is bullish so I am going with the trend, it is a bull pull back or break hook and go, granted large but the same, I set it and mostly forgot it not messing with it, I traded with a small lot sizing or .02. and I got lucky.

Have good day traders, may the pips be with you.

5-28 Overnight Plot Trades.PNG
 
martina.imnetwork

i need to get back to scalping been doing more intraday lately

 
Rookie

So my internet went down just when I was going to post this. I wonder f that was an omen?...LOL

Attached is my 8.25 Plot trade, my target was 2.25 and yes we hit it so we are back to break even.
But all is not well, the EU and GU reversed about noon today. at that point, my equity was 2.35%, but greedy me I did not close my open trades, in fact, I put more on and theses buy stops are the green lines on the charts.

I may not be out of the woods on this trade until tomorrow morning and that is if I do not close before the London open. As I am close to my max risk tolerance that is a real possibility.

This week I had been trading a .02, today I said let's go for this 2% to make back the rest of the previous loss and used a .03 lot. However in view on my bias and not closing my losses earlier I am at risk of loss.

8-25 Plot Trades.PNG
 
mike_smith

Good luck on 1.181-1.180. I'm aiming back to 1.184 currently.

 
mike_smith

Hey Rookie, how did you know that was going to drop?

 
Rookie

Mike, we have the 24-hour cycle, which some measure from the NY close or maybe from the London open. Within that cycle each market has a cycle and each market cycle usually has two cycles within.

So what do we need to know?
1. location
2. direction
3. how far
the lowered the time frame the more technicals become important conversely the higher the time frame the fundamentals become more important. however, there is always a cycle and a trend is easily identifiable as we move out in time frames.

I typically trade the highs and lowe cycles within a time frame, likewise one can calculate that time and price cycles
For me, I build my rules around that analyst. What is ket to any strategy is the trigger to enter a trade and what keeps us in the game long term is our stops AKA risk tolerance balanced within our strategy that takes advantage of the analysis.

So I got off-topic of your question but it's not all that simple, at least not for me, not yet. Picking direction and distance is relatively easy, adding the sizing psychology is my issue.

I have watched a lot of very successful folks come and go, even super math folks but even with all the head knowledge and statistical trading analytics, it comes down to emotional maturity.

 
Rookie

Attached is my Plot Trade for this mornings NY Open,
I did well and then not so much as can be seen from my trades.
I did capture and the trades I had left open but then made the same mistake as the other day, I failed to close at the London's bottom coincidently the same time as Nadec at 7:30 and NY at 8:30 and today coupled with US bond sales.

The bottom line it appears I have a Cognitive bias that I need to replace. You might thank after almost 4 years I might figure this it. Yes, I am frustrated but I will endeavor to drive on. After all, a shot missed is another one closer to success.

8-26 NY Open Plot Trades.PNG
 
mike_smith

The green lines are profitable trades? Are the yellow lines loss trades?

 
Rookie

that's a fact, Jack!

 
Rookie

Attached is my chart art for the morning. I often use this as part of my post-trade look back.
What I traded here.
The setup, plot the high and low, not the London slide to the NY Open.
Then the market starts, An interesting "M" Pattern develops and the left downside turns into a strong "V" pattern,
Rolling into a consolidation then onto a descending triangle.

9-8 NY Session Chart Art.PNG
 
Rookie

I'm done for the day, wobbled my way into my Black Swan, the good news is tomorrow is another trading day and I have some equity left to trade another day thanks to the Apiary Limits.
I made some mistakes and paid the stop out price while getting a cup of coffee. But it could have been worse had it not been for the Apiary Limit.
My mamma said coffee was no good for ya...:))

So what rules did I break,
1. the bottom of the session was hit, Ok no problem with that. The positive stock market news, it didn't register with my brain what the result would be. IE market up and DXY Down thus EU and GBP up... the drill is about to take place.
2. Then the pivot dogi then the outside engulfing candle and then the confirmation candle,
problem not recognized
3. now have wobble trades against me, and not closing them but adjusted up.
Next
4. EMA's were crossed heading sharply bullish
5 Still didn't close but proceeded to add wobble position, instead of closing out and changing bais to bullish trades.
6 went for Coffey, came back to the orange bar...

Just wiped out a week of positive trading, will need to renew my emotional bank... and now to top it off I have to post the results to my log and journal... for posterity., but the silver cloud is the lesson... I suppose.

So hoping you folks traded this morning better than my self.
---------------------------------------------------------
So it occurred to me to mention I was trading a,05 Lot, however, became over leverage with the fix-it mode, thus not protecting my account for the several time's price extension. This is why I sad created my own Black Swan.

9-9 NY Open Chart.PNG
 
Rookie

I traded a few hours this am and made back what I lost yesterday plus a bit more.
This account is positive for the month so I'm thinking I'll not trade it again until after the monthly sweep.
Yes, I'm a prudent chicken theses days...

Attached is my NY Open trade, it was a brief two hours.

I traded the wobble ok, not perfect but ok. I always have the afterthought when I do my plotting.
I could have earned so much more and that's the part that bothers me.
Consistently profitable is our definition of a pro trader. The other day in Kevin's class he was talking he knows many traders earning 3-5% daily. Looking back I think I have only had two +5% days, One of the head games that SMB pushes is maximizing a trade. Can't imagine having the stamina to trade for a full 8-hour session and then do all the post-trade analysis. maybe 30 years ago but not these days. So I go back to telling myself:

Pips are for consistency and sizing is for profit, just relax and make one good trade and then another.
-------------------------------------

Just got my stats done, while my win-loss ration is only 81% as opposed to my usually o 95% to better. This occurs with closing losers and adjusting the losers closer to the new price level. For an aggressive, I used need to be right guy this is a milestone!

9-16 NY Open Plot Trades.PNG
 
robunited

"This account is positive for the month so I'm thinking I'll not trade it again until after the monthly sweep.
Yes, I'm a prudent chicken theses days..."

I don't think it's chicken, I think it's smart.

If it's a funded account, and you are in profit for the month ... and the reset is approaching in 3 days, the 20th
... then better don't touch it for now.

Trade it on the 21st again.

 
Rookie

duplicate removed

 
Rookie

my thought exactly.

The last time a trader provided such sage advice was maybe a 1.5 years ago. I didn't heed the advice then but I'm pretty certain I will this go round.

 
Rookie

What I traded for 9-18

I started this trade yesterday in the Asain session with Shawn's Rally Room, a great wobbling lesson always.

However, I started out on the wrong foot. ouch, short 100+ pips, Lesson learned to look and check the chart before entering. The thinking NP and entering for a short recovery. Nice thought but not to happen, but I left the trades on because of the chart pattern. However, I must confess when this group hit a negative 45 pips each my risk tolerance was being amply tested. For another really good chart art example of this see Rob's post in the fade2trade thread.

Went to bed, as you can see I got up later on and added trades when the market pivoted but was not completely out of the woods until the 9 AM CDT USD news event. Not a very big event but enough to close the remaining trades. And if one looks at the 15M chart we can see the completion of an "M" pattern coinciding on the GU.

The EU was a trend trade, waited for the break, and followed the change which is a consolidation on a higher chart until that small news event and the DXY changed direction reflected in the EI moving back to bullish sentiment.

Traded both EU and GU with a .03 Lot and 3-5 trades per layer, Note because of the spread the EU per trade was almost a buck per but the GU avg pulled the overall average down to just .47 per trade

Happy Trading, stay safe, and enjoy the process.

9-18 Session Plot Trades.PNG Nothing goes to heck - Wolf.PNG
 
Rookie

The Mommas and Pappas sang a sone "Monday Monday Can't Trust That day" Obviously they were not forex traders.
I have found Monday to be the most reliable day for trading the London and NY sessions.

When Scalping I trade the cycles, usually the 5M within the 15M which Is why I have an ocislator on the chart, and the EMA's for the trend.

While I do trade for targets with in the cycles, I always wrestle with when to stop trading. Hence when I get in the range of 1% and a pivot I call it a day. Surly not wanting to give it back to them greedy bankers. However lately I am tracking how many pips I leave on the table by getting out and not trading the next cycle or trend continuation. For me, this is a real wait-a-minute vine or got-ya trap, Overcomming this fear of giving back, fear of loss is a very real thing. I suppose it untilately comes down to a lack of confidence in my abilities to remain consistent over a greater period of time. If that's the issue I can beat this psychological hurdle with more trades and consistent tracking to make minor changes, KaiZen!

Today I tried to stretch my cycles out a bit to earn a little more per trade. Given the smallish size of this account I did accomplish this.

But no matter a green day is a good day.

9-21 NY Open Plot Trades, 7-8AM CDT.PNG
 
Rookie

9-21 9-10 AM CDT Shawns Trade room.
Great piece of the action for this hour of the morning.
Shawn's trader did well with a great sense of humor!

I let a few (about 20 trades) run too far against me because I built into the position a little too heavy, about 25% more than I would normally allow of my available positions.

But its green so its another good session.

Off to do my stats and lunch, all that talk about food during the session got my appetite going.

Enjoy the process
--------------------------------------------------------------------
Made a correction to my trade room stats, Sometimes its hard to separate one session from another on the same account.

9-21 NY Trade Eoom 9-10AM CDT.PNG correction to stats.PNG
 
straja93

@Rookie good work. were you trading long based on support level of previous weeks low or were you looking at something else?

 
Rookie

When I wobble like with Shawn its straight price action based on support and resistance.

When I do the post jut above that one I usually use the 15M or 1H high and low

When I am doing a long time frame I will us the 4H or 1D or even 1W high and low until I am happy with my analysis.
That the price action is with at the top to bottom of a cycle in the time frame than Its a trade, but never in the middle.

I hope that is clear enough to answer the question. If I can help or add more definition, just ask or message me.

Victory -  Pariyatti.PNG
 
Rookie

Sort of a tiring morning for me. Slept in a bit and sat down about 7 AM for Jeff's class and started trading a bit later.
4 hours later I am ready for a break.

Note the Stoch on the 15M chart it took 3 hours to complete one cycle, and on the 5M how many cycles within that 4 hours.
I did have some trouble today separating the stats of two sessions in the same account. I really need to use a separate account for each session.

Also discovered I was trading a .02 lot for a portion instead of my usual .03Lot with seriously hurt the $$$ earned.

With the news today I laid low but the news was lackluster at best.

Overall Green is good so its a good day.

Enjoy!

9-23 NY Open Plot Trades.PNG
 
Rookie

Today's Trade Room was an interesting prolonged session.

For me a few lessons.
1. Get out when the going is good. No Need to keep on trading and give it all back and then some...:))
2. Read the market more mindfully when the price action clearly changes, makes the decision to get out or change with it.

It will take me two days to recover from this session when I traded for maybe 15 minutes prior to the start and was plus 1.25% equity.

In this case, while the wobble is great when it not its time say ok now change, you do not have enough equity to stand the battle.

Sometimes the process is hard to grasp.

9-24 NY Open.PNG action vs anxiety - Clear.PNG
 
Rookie

wobble, wobble, wobble, turkey day came early

So I hade one goal today and that was to earn back 50% of what I lost yesterday to playing Shawn and running out of bullets. The market provided considerably more than that. My biggest take away from this session is patience to wait for the cycle high and cycle low to enter positions.

BTW rumor control has it that Shawn finished up around a plus 4% on the session.

I started trading just before the NY open and got out just before 9 am CDT. The ( Am time or thereabout is an important time for consideration because of the equities market. Today that was a very good move. The thing is I never know which way the market will move, thus the old adage, better safe than sorry.

So the week is green the day is green, a happy camper here.

Have a safe weekend all and be well!

9-25 NY Open 2 Hr Plot Trade.PNG
 
Rookie

removed

 
aray0821

Yes, patience is key.

 
Rookie

It is patience that enables a trader to take advantage of probabilities and produce an edge with a positive expectancy.

Trading Probability & Psychological Biases: Most IMPORTANT Lesson for traders?
https://www.youtube.com/watch?v=TBU-GfOPnmQ

There are many good posts and youtube videos about probabilities, This one is short and two the point, It's all about the trader's bias from Rissian Roulett to Suvership bias when rewarded for winning with a bad trade.

Most Expensive Words - Templeton.PNG
 
Rookie

Trading was a little rough the last two days on me. Tonight with the London open we made some back.
Time for a Nap, then up for the NY Open and some news.

London Open Plot Trade - 2Hrs.PNG
 
Rookie

Today was a bit of anxiety working thru my process. Lost it once, and the market gave it back.
Everything is green, so it wasn't that bad, and NFP as lack-luster as it was added about 40 pips to help me out.

I trade the news by placing both buy and sell stop orders on either side of the price action and about 5-10 pips away from the price point. And then the move was lagging about 10 minutes.

That said, I have had a hard four days, my fault, not the markets; of course, the market is always right. I earn about 1% for every session I trade, so 2% a day if I trade a bit in London and NY for a few hours each. This week, however, my avarius attacked me. Not exactly over trading but not knowing when to stop trading and being happy with the 2% the market gave me as not to give it all back. Perhaps another factor is by 9 or 10 AM, I am not as mindful.

Attached is the plot trade for today, all trades at .03 lot, and layers in a 2 trade plus 2 trade for a set of four trades which yields a .05% gain every closed set.

And the quote is from the James Clear newsletter.

Have a good weekend, traders, stay safe, and stay well.

10-2 Sessions Plot Trades.PNG Talent Lacking - Clear.PNG
 
robunited

Good trades and end result, Ed.

Sticks out that you got the discipline to close the 'losing trades' out.

Whether they would have been for break even later (on hindsight only) doesn't really count.

Have a good weekend!

 
Rookie

Thanks, Rob
You and yours also!

 
Rookie

I'm sure some traders today in the NY Open did very well; I was not one of them.

Yesterday a follow trader wrote; So on my screen on the M1 I see a level pause and a ride up, and now an angled pause and a step move up. I often wonder about the difference between those two types of pauses if they had any real significance?

I had already been thinking about this do in part to my statistical log on my sessions.

So, my answer is yes, there is a change for the past 5 days in price action, or maybe it's just me, but I am out of sync and have some trouble adjusting accordingly.

I have noticed;

When in a horizontal consolidation channel, the spread from the high and low is quite small where you are not really on top of the chart you lose. A solution to that happenstance is to move up a one-time frame.

That a break out is sudden and longer, making fake outs alluring.

When comparing the 1M to a 5M anchor, note that the rectangles have become a triangle type, and the flags become pennants.

Also, observing with say a 30M chart trading between the high and low is very key!

The problem for me is sync and phase, which is made very stick with the minimal account, mainly because if I am off just a tad, there is not enough equity to resolve even small errors of judgment.

Looking at the 30M chart, perhaps scalping was not the correct selection of a method to trade. Also, observing the basics of news and the stock market reaction reflected its sentiment pushing the DXY.

The bottom line tomorrow is another trading day.

10-6 NY Open Charts.PNG Failing Forward - Schillcutt.PNG
 
mike_smith

"I'm sure some traders today in the NY Open did very well; I was not one of them."

YES YES! It was me! I did well!

The CMT I,II,III risk lessons are paying off!

 
mike_smith

Rookie, you sound so depressed and like you're over analyzing your strategy. Remember let your risk management lead your strategy, not the other way. Then I think you'll regain your clarity.

 
Rookie

thanks, Mike.
I was depressed because of my entry points, very not good.

 
Rookie

Well, entry points still not so good, can't be me, must be the change in market bots...LOL

This session is positive pips but negative dollars but has a good view of letter losers run past my usual stops.
My two takeaways are entry points and close losers sooner, as can be seen for the most part, once losers are saying 3 Pips lost they are not turning back again.

Another lesson was, while a .50 is not the daily target I was there twice today and had to earn it back, the first time from a -1.75%... ouch had me a little bit on the fence.

Once again tomorrow is another day!

Side note, I would have paused with the FOMC Speaker but chose to close up shop for the day as I had a few chores to complete for the boss.

10-07 NY Open till 2 PM CDT Plot Trades.PNG SAMO.PNG