No setups for me to take.
on to next week
Minsk T20 - Banana 1H
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Minsk
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Minsk
- AIMSter
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ATR and ADR
ADR = Average Daily Range which means it's the average of the range of the whole day.
ATR = Average True Range, it is the range of the CANDLE or the number of candles. An ATR 20 would mean, the average range of the difference between the Candle High and Low of the last 20 candles.
ATR of the Daily Time Frame is the ADR of the MARKET ...
ATR of every time frame is different. ADR is always the Same.
ATR = Average True Range, it is the range of the CANDLE or the number of candles. An ATR 20 would mean, the average range of the difference between the Candle High and Low of the last 20 candles.
ATR of the Daily Time Frame is the ADR of the MARKET ...
ATR of every time frame is different. ADR is always the Same.
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Minsk
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Monday 27-6-2022
It is starting to get repetitive, no trade today either. A capital preserving day...
I had a PO on GBP-USD, but the signal got invalidated and i cancelled the PO.
I had a PO on GBP-USD, but the signal got invalidated and i cancelled the PO.
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immy
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Re: Monday 27-6-2022
You are getting it now... Trading is NOT about taking trades after trades without seeing your edge. It's about QUALITY.Minsk wrote: 27 Jun 2022, 15:43 >>>>>>>>>>> This Right here is the FIRST sign of a Trader finally GETTING IT....
"It is starting to get repetitive, no trade today either. A capital preserving day...
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!
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!
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Minsk
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- Posts: 498
- Joined: 11 Nov 2021, 16:11
- 3
Wednesday 29-6-2022 GBP-USD
GBP-USD and USD-JPY were potential trades today.
I have been looking at both.
I would have rather taken USD-JPY, as that one just goes up most of the time. I made a mistake here. I incorrectly marked the All TimeHigh as a level (green line). It wasn't, because it's only a potential level, as price has not touched that "level" twice at least, it has been there just once. If not for this mistake, I would have put a PO on the 14:00 banana seed signal.
I did put a PO on GBP-USD.
1 - Trade Number: B4 -T10
2 - Pair Name: GBP-USD
3 - Signal Date: 29-6-2022
4 - Signal Chart Time: 13:00
5 - Signal Time Frame: 1H
6 - Signal Type and Number: Seed
7 - Buy or Sell: Sell
8 - D1 Trend: Down
9 - H4 Trend: Down
10 - H1 Trend: Down
11 - Risk Percentage: 0,5%
Flowchart questions:
A - Is there an impulse move?
Yes, there is, 2 candles. Breaks the trading range, 50 EMA on right side.
B - Is impulse move climactic?
No not climactic.
C - Is there a pause or a pullback?
Yes. It's a pullback. Not the prettiest, best is a smaller pip size signal candle. I had 32.5, better is not go over 30, and best is 20.
D - Is the pullback impulsieve?
No, it gives a seed.
12 - Post-Trade Comments: (Feelings, Analysis, What could have been differently, lessons)
Looking at the chart it's a long way to 2R, where SL goes to BE. That's because of not the best signal candle pip size. This is a signal I will filter next time. I changed the trading plan for smaller pip size signal candles.
UPDATE 30-6-2022
Today Thursday 30-6-2022 the SL got hit. SL was not at BE yet, so a -1R.
I would have closed this trade yesterday, as it was clearly going in a range. Closinga trade manually is not in my trading plan so it would have been a DS0 if I did this. So decided to sit it out. I feel a bit sour over the result, as I could have preserved capital by closing the trade.
Well, on to NEXT.
13 - Discipline Score For this Trade: DS1
13.1- If applicable, what is the Reason for DS0:
14 - Discipline Score Running Total: 7/10 = 0,70
I have been looking at both.
I would have rather taken USD-JPY, as that one just goes up most of the time. I made a mistake here. I incorrectly marked the All TimeHigh as a level (green line). It wasn't, because it's only a potential level, as price has not touched that "level" twice at least, it has been there just once. If not for this mistake, I would have put a PO on the 14:00 banana seed signal.
I did put a PO on GBP-USD.
1 - Trade Number: B4 -T10
2 - Pair Name: GBP-USD
3 - Signal Date: 29-6-2022
4 - Signal Chart Time: 13:00
5 - Signal Time Frame: 1H
6 - Signal Type and Number: Seed
7 - Buy or Sell: Sell
8 - D1 Trend: Down
9 - H4 Trend: Down
10 - H1 Trend: Down
11 - Risk Percentage: 0,5%
Flowchart questions:
A - Is there an impulse move?
Yes, there is, 2 candles. Breaks the trading range, 50 EMA on right side.
B - Is impulse move climactic?
No not climactic.
C - Is there a pause or a pullback?
Yes. It's a pullback. Not the prettiest, best is a smaller pip size signal candle. I had 32.5, better is not go over 30, and best is 20.
D - Is the pullback impulsieve?
No, it gives a seed.
12 - Post-Trade Comments: (Feelings, Analysis, What could have been differently, lessons)
Looking at the chart it's a long way to 2R, where SL goes to BE. That's because of not the best signal candle pip size. This is a signal I will filter next time. I changed the trading plan for smaller pip size signal candles.
UPDATE 30-6-2022
Today Thursday 30-6-2022 the SL got hit. SL was not at BE yet, so a -1R.
I would have closed this trade yesterday, as it was clearly going in a range. Closinga trade manually is not in my trading plan so it would have been a DS0 if I did this. So decided to sit it out. I feel a bit sour over the result, as I could have preserved capital by closing the trade.
Well, on to NEXT.
13 - Discipline Score For this Trade: DS1
13.1- If applicable, what is the Reason for DS0:
14 - Discipline Score Running Total: 7/10 = 0,70
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Last edited by Minsk on 30 Jun 2022, 15:47, edited 2 times in total.
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Minsk
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Trading Plan adjustment in pip sizes for signal candles
GBP-USD was too big, was at 30-ish. It's smaller now.
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immy
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Re: Trading Plan adjustment in pip sizes for signal candles
Do backtesting, you will get a better idea of what stop loss works the best. 20SL or Lower is the sweet spot for GU. UJ 10,15 or 20, EU sam.e but it changes sometimes when the market is turbulent and requires wider stop losses. in that case, in your stage you FILTER the signal. SIMPLE as that.
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!
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!
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Minsk
- AIMSter
- Posts: 498
- Joined: 11 Nov 2021, 16:11
- 3
Re: Trading Plan adjustment in pip sizes for signal candles
I will do that for the pairs I have in my Trading Planimmy wrote: 29 Jun 2022, 17:33Do backtesting, you will get a better idea of what stop loss works the best. 20SL or Lower is the sweet spot for GU. UJ 10,15 or 20, EU sam.e but it changes sometimes when the market is turbulent and requires wider stop losses. in that case, in your stage you FILTER the signal. SIMPLE as that.
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Minsk
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FO Box, copied from Immy's journal
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Last edited by Minsk on 01 Jul 2022, 10:08, edited 1 time in total.
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immy
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Re: FO Box, copied from Immy's journal
Hey, Be Careful here... those charts for my long weekend contemplation... Following that system is simple but not EASY needs experience.
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!
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!