Minsk wrote: 21 Jul 2022, 16:37
1 - Trade Number: B4 -T12
2 - Pair Name: USD - JPY
3 - Signal Date: 21-7-2022
4 - Signal Chart Time: 13:00
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: it's in an uptrend although at moment of trade EMA's were flat, looked like break out of tight range
11 - Risk Percentage: 1%
Flowchart questions:
A - Is there an impulse move?
Looking in hindsight: 1 trend candle and 2 candles that had too much wick = wide range candles. No, this is not a good impulse.
So I can actually stop writing answers to the rest of the questions.
B - Is impulse move climactic?
C - Is there a pause or a pullback?
D - Is the pullback impulsieve?
12 - Post-Trade Comments: (Feelings, Analysis, What could have been differently, lessons)
How did I end up taking this trade when I now clearly see why it's crap.
Because I was focussed on the Box break that I missed. I was looking for a banana signal after that so I could enter. I did not pay attention to what this "impuls" looked like. I didn't assess the situation like I should have, and didn't go through the flowchart questions like I should have. So I paid the price for that. -1R.
13 - Discipline Score For this Trade: DS0
13.1- If applicable, what is the Reason for DS0: not paying enough attention to the sort of candles, this is not a good impulse.
14 - Discipline Score Running Total: 7/12 = 0,58
I knew you'd take this signal but it was clearly NOT the best signal. Remember it was ECB rate decision day and all the focus on the euros.
The Dollar YEN did not have a CLEAN strong breakout
but this is how we learn and its just another trade. Keep going.
Two rules broken. 1. not the best setup 2. More importantly, NEWS TIME
For an individual stock what is the MOST important periodic News Event?
EARNINGS REPORT... that is what companies are made for .TO MAKE PROFIT.
for FOREX its, INTEREST RATES
You do not have the required permissions to view the files attached to this post.
What is the Secret of Successful Trading?
The Consistent Pursuit of
DS1 
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!
