Minsk T20 - Banana 1H

[Minsk]

I have not seen any signals/setups that I wold want to trade this morning.
I'll wait for red news , and then look again.
 

[Minsk]

THank you Immy

[Minsk]

I put a PO (Stop buy)  on the 9:00 seed USD-CAD.
This looks like a S1 even. Haven't checked that. Off to check that too. Yes it is.

Edited:
I realise I used the S1 entry method on a Banana signal. I should have waited until there was a candle close above the level. Then entry. SO I guess it's a DS0.
Trade is already running, I'll wait and see what gets out of it.
 
 
 

[immy]

I put a PO (Stop buy)  on the 9:00 seed USD-CAD.
This looks like a S1 even. Haven't checked that. Off to check that too. Yes it is.

Edited:
I realise I used the S1 entry method on a Banana signal. I should have waited until there was a candle close above the level. Then entry. SO I guess it's a DS0.
Trade is already running, I'll wait and see what gets out of it.
 
 
 




 

This is not a setup nor it is a banana setup. It is a 2nd day play. Must be a good banan on H4? is it? ... what it is a good trending market waiting for another breakout. 
 
The Famous Setup ... which becomes a perfect setup 1 on M15 
 

[Minsk]

I put a PO (Stop buy)  on the 9:00 seed USD-CAD.
This looks like a S1 even. Haven't checked that. Off to check that too. Yes it is.

Edited:
I realise I used the S1 entry method on a Banana signal. I should have waited until there was a candle close above the level. Then entry. SO I guess it's a DS0.
Trade is already running, I'll wait and see what gets out of it.
 
 
 

 

Thank you Immy, I slipped over a bananapeel again. Where is the impulse? This is a Trading range. 

H4 indeed was a nice Banana signal.

DS0 defo.



 

[immy]

I put a PO (Stop buy)  on the 9:00 seed USD-CAD.
This looks like a S1 even. Haven't checked that. Off to check that too. Yes it is.

Edited:
I realise I used the S1 entry method on a Banana signal. I should have waited until there was a candle close above the level. Then entry. SO I guess it's a DS0.
Trade is already running, I'll wait and see what gets out of it.
 
 
 


 

Thank you Immy, I slipped over a bananapeel again. Where is the impulse? This is a Trading range. 

H4 indeed was a nice Banana signal.

DS0 defo.



 

 

You are definitely getting there. You are reading the market correctly. that is a GREAT point... these are the type of markets I want to be involved in. 

The market has a pulse, when it beat,s the whole market moves. So I don't need 20 pairs. I am trading 4 or 6. and I'm hitting good winners. Today is a 18K day. 

[Minsk]

@Immy: 18K is a GREAT day!

 

[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.

[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.

 

Remember this trade. ENTRY  is NOT that important ... CONTEXT is more important. 

Even if you made a bad entry, the context was great, and as long as you trade within trending markets, you will MAKE MONEY.... 

TRENDS and 1:3 or more and at least 30% win rate. that's how easy it is... just 20% win rate for 1:5 trades and just 30% win rate for 1:3. 

[Minsk]

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.