Minsk T20 - Banana 1H

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Minsk
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Re: Minsk T20 - Banana 1H

Unread post by Minsk »

Batch 2 - T14
25-3-2022
Banana 1H
USD-JPY SHORT


On the Pepperstone Demo account via Tradingview.

Today was  slipping on the Bananapeel. LEARN!

The 7 questions answered:
1 - Is there a breakout with a higher high or lower low?
My thoughts:  I wasn't completely sure about it. Because it created a swing high, reversal, nice pullback. But on the 5x HTF (4H + daily) it's still in an uptrend of course. Is this a mistake to see this as a valid trade?

Immy 's comment about this in Discord: You're trying to catch the reversal of a strong move. ... we don't want that. We want to know, trend has already established. And we simply hopping on the train. We are not predicting the trend, we are confirming a trend.

Point taken. DS0 because of violating Q1.

2 - Is there a good pullback?
Yes. Pullback is 2 candles. Compared to the impulse candles, the pullback candles are equal or smaller. Pullback 1-legged goes back to 10 ema. Pullback is about 50%.

3 - Is the impulse move too climactic?
No, it's not too far from 10 ema.

4 - Is the pullback impulsive?
I'd say no because in comparison the impulse candle is bigger. But one could argue about it in this case.
5 - Is this the 1st or 2nd pullback?1st pullback.

6 - Is there an S/R zone near entry level?
No.

7 - What is the market phase on the current and higher time frame?
Current: downtrend
HTF: uptrend
I know this is a less important Q. So it should not have been the reason to stay out of the trade. But Q1 was the reason to stay out.

Banana signals  marked with a pink dot. 
Target = 3R. 

I paid the rent for violating Q1. SL was hit.

DS0
total DS: 8/14=0.57
 
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Re: Minsk T20 - Banana 1H

Unread post by immy »

kvr1966 wrote: 25 Mar 2022, 14:03
immy wrote: 25 Mar 2022, 14:00 Why don't you use Pepperstones MT4 and install the banana indicator?



 
I have Pepperstone MT4 installed on my personal laptop. I use it to look at the signals, if I'm not working.
I clearly need to look at the MT4 tool. There is obviously more in it than I know.
 
 

 
The Banana Code is 5000 Lines of Logic. It took 500 hrs of work to get it to this stage. 
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌
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Minsk
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Re: Minsk T20 - Banana 1H

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Batch 2 - T15
28-3-2022
Banana 1H
EUR-AUD SHORT


Another day of slipping on the banana peel.

On the Pepperstone Demo account via Tradingview. I fixed the settings so now standard risk is 1% of 50K.
There were better trades I could have taken on other pairs, that would have given a profit. 
This one didn't work out as planned. I do think it's a DS1 trade.

After Imi told me it was the 3rd pullback, I realised my mistake. I know how to count pullbacks. Then count those. Do not only count pullbacks with  Banana signals in them.

The 7 questions answered:
1 - Is there a breakout with a higher high or lower low?
Yes, there is a ongoing downtrend. In this downtrend there was a recent AO cross and the 10/20 ema's just expanded again. There is a lower low.

2 - Is there a good pullback?
Yes. The first pullback was a complex pullback, I didn't take that. This the 2nd. Pullback is 3 candles. Compared to the impulse candles, the pullback candles are  smaller.  Pullback is about 50%.

3 - Is the impulse move too climactic?
No, it's not too far from 10 ema.

4 - Is the pullback impulsive?
No, this looks like a good pullback.

5 - Is this the 1st or 2nd pullback?
2nd pullback.
No it's the 3rd pullback, not the 2nd. COUNT properly!!!
Rule is do not trade 3rd if you have not traded 1st and 2nd.

6 - Is there an S/R zone near entry level?
No. Nothing to the left.

7 - What is the market phase on the current and higher time frame?
Current: downtrend
HTF: downtrend.

Banana signals  marked with a pink dot. 
Target = 3R. 

SL was hit. 

DS0
total DS: 8/15=0.53
 
 
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Re: Minsk T20 - Banana 1H

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Batch 2 - T16
30-3-2022
Banana 1H
USD-CHF SHORT


The 7 questions answered:
1 - Is there a breakout with a higher high or lower low?
Yes, price has been going down from mid march, with a correction on the 28/29th of march, M formation. It's following it's way down again.  There  is a lower low.

2 - Is there a good pullback?
Yes. This the 2nd pullback. Compared to the impulse candles, the pullback candles are  smaller.  Pullback is about 33%. Ideally this should be 50%. I didn't think it was a reason to filter this signal.

3 - Is the impulse move too climactic?
No, this is a nice impuls, not climactic as the impuls before this one.

4 - Is the pullback impulsive?
No, this looks like a really nice pullback.

5 - Is this the 1st or 2nd pullback?
2nd pullback.

6 - Is there an S/R zone near entry level?
Not within 20 candles to the left. And if the level is considered, 3R is within, so I don't see this as a reason to filter the signal. Looking back, this trade was slightly i the lower half of the trading range. Should it be a DS0 for that reason?

7 - What is the market phase on the current and higher time frame?
Current: looks like wide trading range. Going down in the range.
HTF: 4H Wide trading range.

Banana signal  marked with a pink dot. 
Target = 3R. 

Exit at 3R

DS1
total DS: 9/16=0.56
 
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Re: Minsk T20 - Banana 1H

Unread post by Minsk »

Batch 2 - T17
30-3-2022
Banana 1H
EUR-JPY SHORT


Summary of below banana peel: I did not consider the overal trend, it's going up, so violation of Q7.

The 7 questions answered:
1 - Is there a breakout with a higher high or lower low?
Yes,  there  is a lower low after 10/20 ema's crossed.

2 - Is there a good pullback?
Yes. This the 1st pullback. Compared to the impulse candles, the pullback candles are  smaller.  Pullback is about 25%. Ideally this should be 50%. I didn't think it was a reason to filter this signal. The 25% maybe wasn't a reason to filter, but Q7 should have been.

3 - Is the impulse move too climactic?
No, this looks like good impuls.

4 - Is the pullback impulsive?
No, this looks like a good pullback.

5 - Is this the 1st or 2nd pullback?
1st pullback.  I think I got too exited about getting a 1st pullback, and then not paying enough attention to all rules.

6 - Is there an S/R zone near entry level?
Not within 20 candles to the left. And if the level is considered, 3R is within, so I don't see this as a reason to filter the signal. 

7 - What is the market phase on the current and higher time frame?
Current: right now going down. Overall on the 1H it's going up. But I didn't pay attention to this Q, and put in a short. => DS0
HTF: 4H uptrend.

Banana signal  marked with a pink dot. 
Target = 3R. 

SL got hit.

DS0
total DS: 9/17=0.53
 
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Minsk
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Re: Minsk T20 - Banana 1H

Unread post by Minsk »

Batch 2 - T18
30-3-2022
Banana 1H
USD-JPY SHORT


Summary of below banana peel: I did not see this was a trading channel, so violation of Q7, again today. There will be more to come today.


To avoid making the same mistakes again on the same day, starting tomorrow I can only do 1 trade. Because somehow the being in the know of my mistakes comes some hours later.


The 7 questions answered:
1 - Is there a breakout with a higher high or lower low?
Yes,  there  is a lower low after 10/20 ema's crossed.

2 - Is there a good pullback?
Yes. This the 2nd pullback. Compared to the impulse candles, the pullback candles are  smaller.  Almost pulls back to 10 ema.

3 - Is the impulse move too climactic?
No, this looks like good impuls.

4 - Is the pullback impulsive?
No, this looks like a good pullback.

5 - Is this the 1st or 2nd pullback?
2nd pullback. 

6 - Is there an S/R zone near entry level?
Not within 20 candles to the left. 

7 - What is the market phase on the current and higher time frame?
Current: right now going down. Overall on the 1H it's going up. Later I read in discord it was in a trading channel, and it had not broken out of that. But I didn't pay enough attention to this Q, and put in a short. => DS0
HTF: 4H uptrend.

Banana signal  marked with a pink dot. 
Target = 3R. 

SL got hit.

DS0
total DS: 9/18=0.50
 
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Re: Minsk T20 - Banana 1H

Unread post by Minsk »

Batch 2 - T19
30-3-2022
Banana 1H
GBP-JPY SHORT


Summary of below banana peel: I did not see this was a trading channel, so violation of Q7, again today. Same mistake as in last trade.

To avoid making the same mistakes again on the same day, starting tomorrow I can only do 1 trade. Because somehow the being in the know of my mistakes comes some hours later.


The 7 questions answered:
1 - Is there a breakout with a higher high or lower low?
Yes,  there  is a lower low after 10/20 ema's crossed.

2 - Is there a good pullback?
Yes. This the 2nd pullback. Compared to the impulse candles, the pullback candles are  smaller.  Almost pulls back to 10 ema.

3 - Is the impulse move too climactic?
No, this looks like good impuls.

4 - Is the pullback impulsive?
No, this looks like a good pullback.

5 - Is this the 1st or 2nd pullback?
2nd pullback. 

6 - Is there an S/R zone near entry level?
Not within 20 candles to the left. 

7 - What is the market phase on the current and higher time frame?
Current: right now going down. Overall on the 1H it's going up. Later I read in discord that USD-JPY was in a trading channel, so that was the same for GBP-JPY, and it had not broken out of that. But I didn't pay enough attention to this Q, and put in a short. => DS0
HTF: 4H uptrend.

Banana signal  marked with a pink dot. 
Target = 3R. 

SL got hit.

DS0
total DS: 9/19=0.47
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Re: Minsk T20 - Banana 1H

Unread post by immy »

kvr1966 wrote: 30 Mar 2022, 15:57 Batch 2 - T17
30-3-2022
Banana 1H
EUR-JPY SHORT


Summary of below banana peel: I did not consider the overal trend, it's going up, so violation of Q7.

The 7 questions answered:
1 - Is there a breakout with a higher high or lower low?
Yes,  there  is a lower low after 10/20 ema's crossed.

2 - Is there a good pullback?
Yes. This the 1st pullback. Compared to the impulse candles, the pullback candles are  smaller.  Pullback is about 25%. Ideally this should be 50%. I didn't think it was a reason to filter this signal. The 25% maybe wasn't a reason to filter, but Q7 should have been.

3 - Is the impulse move too climactic?
No, this looks like good impuls.

4 - Is the pullback impulsive?
No, this looks like a good pullback.

5 - Is this the 1st or 2nd pullback?
1st pullback.  I think I got too exited about getting a 1st pullback, and then not paying enough attention to all rules.

6 - Is there an S/R zone near entry level?
Not within 20 candles to the left. And if the level is considered, 3R is within, so I don't see this as a reason to filter the signal. 

7 - What is the market phase on the current and higher time frame?
Current: right now going down. Overall on the 1H it's going up. But I didn't pay attention to this Q, and put in a short. => DS0
HTF: 4H uptrend.

Banana signal  marked with a pink dot. 
Target = 3R. 

SL got hit.

DS0
total DS: 9/17=0.53
 


 
This is a COUNTER Trend entry. Understand this. Put the 100ema filter and don't go against it. 
 
 
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

Yo, banana boy! 🍌
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Minsk
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Re: Minsk T20 - Banana 1H

Unread post by Minsk »

Batch 2 - T20
31-3-2022
Banana 1H
USD-JPY LONG



The 7 questions answered:
1 - Is there a breakout with a higher high or lower low?
Yes,  there  is a 3 candle breakout, and that creates a new higher high.

2 - Is there a good pullback?
Yes. This the 1st pullback. Compared to the impulse candles, the pullback candles are  smaller.  It pulls back to 10 ema.

3 - Is the impulse move too climactic?
No, this looks like good impuls.

4 - Is the pullback impulsive?
No, this looks like a good pullback.

5 - Is this the 1st or 2nd pullback?
1st pullback. 

6 - Is there an S/R zone near entry level?
Not within 20 candles to the left. 

7 - What is the market phase on the current and higher time frame?
Current: right now going up. There is a W formation below the 50 ema, this is the big leg up. 
HTF: 4H uptrend.

Banana signal  marked with a pink dot. 
Target = 3R. 

Closed trade at about 1.35R.  It moved really slow, and markets close today. And I am of the charts the rest of today.
Immy: And this is the reason it gets a DS0. Do not close the trade. I did move SL to BE, after that I closed the trade.


DS0
total DS: 9/20=0.45
 
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Last edited by Minsk on 01 Apr 2022, 21:48, edited 1 time in total.
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Minsk
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Re: Minsk T20 - Banana 1H

Unread post by Minsk »

Evaluation of the first T20 Banana 1H batch.

The DS score is 0.50. That's pathetic. There is no need for such a low DS score if I just read the rules, answer the questions with proper attention and looking at the charts. There are things I don't know that will cause DS0, but not enough to get this low score. So I need to improve in discipline. Obvious.

If I wouldn't keep this journal I would not know what I effed up. So this is very useful.

Lots of things learned, and that added a new rule for me: only 1 trade a day for now. Because I find out some hours later what I have done wrong. I don't want the same mistake in more trades. So only 1 a day for now.

Started a demo account op Pepperstone. This trades via TradingView. I really like this because of the ease of use of TradingView.
Fixed the lot size thing so now it automatically calculates the right numbers without me doing the maths. That's nice,  so trading via TradingView works fine now.

I got MT4 set up on my laptop. Can't always look at that as works is in the way. That makes me wonder if 4H would be a better timeframe for me. 
Also bought the Trade Manager from Steve. I need to get this working in MT4. I have to look into that, and hoped I could do that this weekend, but I have a funeral. Besides al the things with house selling/relocating/building, etc, so it needs to wait a bit.

Next batch I'll go for 1H again.
For now 1 trade a day. And I have to look at the ForexFactory every morning to see what's happening.



 
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