Minsk T20 - Banana 1H

[tombacon89]

This batch took me 2 months. There are days I can’t trade because of work. There are days I don’t see a setup. 

I learned to trade on MT4 instead of trading on TradingView. I much prefer TradingView, but it does not have Steve’s fantastic ATM. 

Discipline Score
This is the most important thing. And I need to improve there. 

Total DS0: 11 out of 20   => 45% 

There is DS0 and DS0.
Violation of rules that I should and could have  prevented is a big fat DS0.
Then there are mistakes, like things I didn’t know, and unknowingly did wrong. DS0 and something learned. 

Out of 11 DS0 cases, 3 qualify as mistakes, and I have learned something new I didn’t know.
-        Spread hours. This can mess up your trade in unwanted ways.
-        Do not move your TP (in this case from 3R to 5R) when the trade is running, no tinkering.
-        Some “rule” I got mistakenly in my head about levels not being an issue when they are more than 20 candles to the left. In hindsight thinking about this, of course that’s nonsense. 

That leaves 8 DS0 cases of violating rules.
-        Trading a signal when it’s still in trading range happened twice.
-        Trading a signal beyond the 2nd pullback, when there was not a valid reason to do so. Happened twice.
-        Trading a 2 legged pullback.
-        Trading against the trend on the 5xHTF.
-        Trading a chart I should not trade.
-        Trading a signal when it was invalidated by the signal in the next candle that was already visible. 

I need to take time to thoroughly go through the rules before entering a PO in MT4. If I miss a trade because of that (price was faster than me overthinking everything) accept it. 

 #R’s
Not important for now, as I am still on demo accounts.

I didn’t get punished for the DS0 trades that were not BE (10), I got +16R from those.
From DS1 trades that were not BE (7) I got +9R.
That makes a total of +25R. That’s crazy. At least I think it’s a lot. I never imagined that many R’s. I didn’t pay attention to that until I see that crazy number now.  This took some accounts, as account is valid for just a couple of weeks. That is very annoying getting a new demo account every time.
 
 
 
 

 

Keep going! Keep journaling! Keep learning!

this is an awesome review! Print this out and put it next to your laptop for your next batch!

well done Minsk

[immy]

This batch took me 2 months. There are days I can’t trade because of work. There are days I don’t see a setup. 

I learned to trade on MT4 instead of trading on TradingView. I much prefer TradingView, but it does not have Steve’s fantastic ATM. 

Discipline Score
This is the most important thing. And I need to improve there. 

Total DS0: 11 out of 20   => 45% 

There is DS0 and DS0.
Violation of rules that I should and could have  prevented is a big fat DS0.
Then there are mistakes, like things I didn’t know, and unknowingly did wrong. DS0 and something learned. 

Out of 11 DS0 cases, 3 qualify as mistakes, and I have learned something new I didn’t know.
-        Spread hours. This can mess up your trade in unwanted ways.
-        Do not move your TP (in this case from 3R to 5R) when the trade is running, no tinkering.
-        Some “rule” I got mistakenly in my head about levels not being an issue when they are more than 20 candles to the left. In hindsight thinking about this, of course that’s nonsense. 

That leaves 8 DS0 cases of violating rules.
-        Trading a signal when it’s still in trading range happened twice.
-        Trading a signal beyond the 2nd pullback, when there was not a valid reason to do so. Happened twice.
-        Trading a 2 legged pullback.
-        Trading against the trend on the 5xHTF.
-        Trading a chart I should not trade.
-        Trading a signal when it was invalidated by the signal in the next candle that was already visible. 

I need to take time to thoroughly go through the rules before entering a PO in MT4. If I miss a trade because of that (price was faster than me overthinking everything) accept it. 

 #R’s
Not important for now, as I am still on demo accounts.

I didn’t get punished for the DS0 trades that were not BE (10), I got +16R from those.
From DS1 trades that were not BE (7) I got +9R.
That makes a total of +25R. That’s crazy. At least I think it’s a lot. I never imagined that many R’s. I didn’t pay attention to that until I see that crazy number now.  This took some accounts, as account is valid for just a couple of weeks. That is very annoying getting a new demo account every time.
 
 
 
 

 

If you're with pepper, you can email them to make the demo account permanent. they can do it. Else, get another broker. or get a 100-dollar live  account. 
 

[immy]

1 - Trade Number: B3 -T20
2 - Pair Name: USD-CAD
3 - Signal Date: 10-6-2022
4 - Signal Chart Time: 9:00
5 - Signal Time Frame: 1H
6 - Signal Type and Number: Seed
7 - Buy or Sell: Buy , stop buy order

8 - D1 Trend:  Up 
9 - H4 Trend:  Up 
10 - H1 Trend:  Up 

11 - Risk Percentage: 1% 

Flowchart questions:
A - Is there an impulse move?
No. It's stil in trading range. 
 

B - Is impulse move climactic?
NA

C - Is there a pause or a pullback?
NA

D - Is the pullback impulsieve?
NA 

12 - Post-Trade Comments: (Feelings, Analysis, What could have been differently, lessons)
I did put the order on the box high, so I was very aware of it needing to clear that level first. 
But it was still in trading range. I need to wait for it to break out, pullback, then take a banana signal. 

13 - Discipline Score For this Trade: DS0. 
13.1- If applicable, what is the Reason for DS0:  
It was still in trading range. I need to wait for it to break out of that range and pull back, then take a Banana signal

14 - Discipline Score Running Total: 9/20 = 0,45
 
That concludes Batch 3.
Evaluation of that will follow.


 

Do you know about principle C? Do you know the Famous setup? 

Well, this today, you have, by chance or luck, traded the FAMOUS setup. One with a principle C.  Sam will salivate just looking at this picture .
 
 

[Minsk]

1 - Trade Number: B3 -T20
2 - Pair Name: USD-CAD
3 - Signal Date: 10-6-2022
4 - Signal Chart Time: 9:00
5 - Signal Time Frame: 1H
6 - Signal Type and Number: Seed
7 - Buy or Sell: Buy , stop buy order

8 - D1 Trend:  Up 
9 - H4 Trend:  Up 
10 - H1 Trend:  Up 

11 - Risk Percentage: 1% 

Flowchart questions:
A - Is there an impulse move?
No. It's stil in trading range. 
 

B - Is impulse move climactic?
NA

C - Is there a pause or a pullback?
NA

D - Is the pullback impulsieve?
NA 

12 - Post-Trade Comments: (Feelings, Analysis, What could have been differently, lessons)
I did put the order on the box high, so I was very aware of it needing to clear that level first. 
But it was still in trading range. I need to wait for it to break out, pullback, then take a banana signal. 

13 - Discipline Score For this Trade: DS0. 
13.1- If applicable, what is the Reason for DS0:  
It was still in trading range. I need to wait for it to break out of that range and pull back, then take a Banana signal

14 - Discipline Score Running Total: 9/20 = 0,45
 
That concludes Batch 3.
Evaluation of that will follow.



 

Do you know about principle C? Do you know the Famous setup? 

Well, this today, you have, by chance or luck, traded the FAMOUS setup. One with a principle C.  Sam will salivate just looking at this picture .
 
 

 

I do not know about the principle C, or the famous setup. Can you tell more about it, or is there info in the archives about both?
Of course this was sheer luck that I traded it. I did a DS0 with this trade, however this is a great learning opportunity discovering things I never heard about.

And to put everything in perspective. Only 9 trades were DS1. All the R's I got with DS0 trades I consider as luck. These all  could have ended as -1R. As long as I don't score 80% at least on DS, all R's made on DS0 trades do not have any value.
The system has proven itself. I am clearly not trading the system yet. So any outcome is possible and luck if it's a win.

I'll get a 100$ account if it's not possible to get a non expiry demo.
 

[immy]

The problem is not lack of knowledge. 

Its not a problem of not knowning

It's the problem of performance 


Just learn one method... 

Learn the Basic techniques. How does the market move? It moves in waves... it moves 1-2-3 days in a row, then takes a pause, then it either resuems in that direction or changes... 

The market either stays in a trading range or it trends, when it trens, we get in. when trend ends, we get out or stay out. Simple as that

Every candle is either a trend or a trading range 

Every day is either a trend or a trading range 

Our job is imply this

Identify tight trading ranges 

Wait for breakout 

Catch entry early or middle of trend.

Stop and repeat. 

ps: principle C and the rest all all now inside the BANANA method. don't need to learn more Just DO THE BANANA. 

 

[Minsk]

Repost of the Trading Plan
 

[Minsk]

1 - Trade Number: B4 -T1
2 - Pair Name: USD-CHF
3 - Signal Date: 13-6-2022
4 - Signal Chart Time: 8:00
5 - Signal Time Frame: 1H
6 - Signal Type and Number: #1
7 - Buy or Sell: Buy 

8 - D1 Trend:  Up 
9 - H4 Trend:  Up 
10 - H1 Trend:  Up 

11 - Risk Percentage: 1% 

Flowchart questions:
A - Is there an impulse move?
There was friday, and it looks famous. 

B - Is impulse move climactic?
No not climactic.

C - Is there a pause or a pullback?
Yes. It's a long pause. Flat wave 4 from friday 18:00 until monday 8:00.

D - Is the pullback impulsieve?
No.  

12 - Post-Trade Comments: (Feelings, Analysis, What could have been differently, lessons)
Of course when I learned about famous pattern last week, I see them everywhere, or I think I see them. If I am wrong please tell me. 
So I see a famous pattern on USD-CHF. (On H4 it was a seed). Put a PO in just above the box level. TP at 3R. SL was moved to BE and soon after that price went down and hit SL. So a BE result.
Looking back I see that there was a famous on 6-6-2022 as well. This just ended below FibExt 0.75. That was only just short of 3R. SL there would have been 190 pips.
Todays ended at around Fib.Ext 61.8. That was not even close to 3R, 3R was just above FibExt 1. And SL was  245 pips.

SL too wide? yes I think so.
At least I would not have been taken out by SL, it remains to be seen what happens after that of course.

13 - Discipline Score For this Trade: DS0
13.1- If applicable, what is the Reason for DS0:  

14 - Discipline Score Running Total: 0/1 = 0
 
 
 EDITED: changed DS1 to DS0, this was not a Banana setup.
 
 
 

[Minsk]

1 - Trade Number: B4 -T2
2 - Pair Name: GBP-JPY
3 - Signal Date: 13-6-2022
4 - Signal Chart Time: 13:00
5 - Signal Time Frame: 1H
6 - Signal Type and Number: #1
7 - Buy or Sell: Sell 

8 - D1 Trend:  Down 
9 - H4 Trend:  Down 
10 - H1 Trend:  Down 

11 - Risk Percentage: 1% 

Flowchart questions:
A - Is there an impulse move?
Yes, there  is, break out of tight trading range. 50 EMA on correct side.

B - Is impulse move climactic?
No not climactic.

C - Is there a pause or a pullback?
Yes. It's a pause.

D - Is the pullback impulsieve?
No, it gives a Banana #1.  

12 - Post-Trade Comments: (Feelings, Analysis, What could have been differently, lessons)
I did everything right this time. Smooth trade. Happy with this one.    
 

13 - Discipline Score For this Trade: DS1 
13.1- If applicable, what is the Reason for DS0:  

14 - Discipline Score Running Total: 1/2 = 0,5
 
 

[immy]

1 - Trade Number: B4 -T1
2 - Pair Name: USD-CHF
3 - Signal Date: 13-6-2022
4 - Signal Chart Time: 8:00
5 - Signal Time Frame: 1H
6 - Signal Type and Number: #1
7 - Buy or Sell: Buy 

8 - D1 Trend:  Up 
9 - H4 Trend:  Up 
10 - H1 Trend:  Up 

11 - Risk Percentage: 1% 

Flowchart questions:
A - Is there an impulse move?

Answer = THERE IS NO IMPULSE WAVE for this signal... the impuse wave was followd by a pullback and a weekend in between. For this current siganl THERE WAS NO Impulse Wave. it was a TRADING RANGE 

There was friday, and it looks famous. 

B - Is impulse move climactic?
No not climactic.

C - Is there a pause or a pullback?
Yes. It's a long pause. Flat wave 4 from friday 18:00 until monday 8:00.

D - Is the pullback impulsieve?
No.  

12 - Post-Trade Comments: (Feelings, Analysis, What could have been differently, lessons)
Of course when I learned about famous pattern last week, I see them everywhere, or I think I see them. If I am wrong please tell me. 
So I see a famous pattern on USD-CHF. (On H4 it was a seed). Put a PO in just above the box level. TP at 3R. SL was moved to BE and soon after that price went down and hit SL. So a BE result.
Looking back I see that there was a famous on 6-6-2022 as well. This just ended below FibExt 0.75. That was only just short of 3R. SL there would have been 190 pips.
Todays ended at around Fib.Ext 61.8. That was not even close to 3R, 3R was just above FibExt 1. And SL was  245 pips.

SL too wide? yes I think so.
At least I would not have been taken out by SL, it remains to be seen what happens after that of course.

13 - Discipline Score For this Trade: DS1 
13.1- If applicable, what is the Reason for DS0:  

14 - Discipline Score Running Total: 1/1 = 1
 
 
 
 
 


 

Unfortunately NOT the Banana Setup...  Anyway... keep going. 
 

[immy]

1 - Trade Number: B4 -T2
2 - Pair Name: GBP-JPY
3 - Signal Date: 13-6-2022
4 - Signal Chart Time: 13:00
5 - Signal Time Frame: 1H
6 - Signal Type and Number: #1
7 - Buy or Sell: Sell 

8 - D1 Trend:  Down 
9 - H4 Trend:  Down 
10 - H1 Trend:  Down 

11 - Risk Percentage: 1% 

Flowchart questions:
A - Is there an impulse move?
Yes, there  is, break out of tight trading range. 50 EMA on correct side.

B - Is impulse move climactic?
No not climactic.

C - Is there a pause or a pullback?
Yes. It's a pause.

D - Is the pullback impulsieve?
No, it gives a Banana #1.  

12 - Post-Trade Comments: (Feelings, Analysis, What could have been differently, lessons)
I did everything right this time. Smooth trade. Happy with this one.    
 

13 - Discipline Score For this Trade: DS1 
13.1- If applicable, what is the Reason for DS0:  

14 - Discipline Score Running Total: 2/2 = 1
 

 

Excellent... CLEAN Clean Trend... Price out of the box... it was the YEN's day today. 

Stick to EU GU UJ GJ DAX30 US100 - Forget the rest - You can only take one trade at a time anyway. Hence I would actually recommend EU GU UJ DAX30. end of story.