EURUSD TRADE JOURNAL: R-1.4 EJ Not Very Well Correlated With EU and GU

Tuesday 22 April 2014

R-1.4 EJ Not Very Well Correlated With EU and GU

GU Trade...

EJ Trades (Not great correlation with EU and GU). As trading truly felt each trade would fizzle out.

EU obs (better correlation with GU and UJ)

UJ Obs (better correlation with EU and GU than EJ)

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Daily Guide

1. Get up, work and warm up Mind (LOA&sums) and Body (Callisthenics, water, air)
2. Prep charts (YTDs lvls, 00s, 50s,S,R,Hi's,Lo's, HM,SS,HW, tests)
3. Create with trend trade plan for each pair, write on charts (Bull/Bear Sweet Spots)
4. Start watching by 0800GMT
5. Relax and let PA and plan unfold, update charts (2.)when appropriate
6. Mark potential triggers on charts particularly IB's
7. Take all setups they are high prob!
8. Should they fail SAR +western rev as this is high prob!
9. Issues? check the 3 P's (Psyc, Phys, Plan)

Bull/Bear Sweet Spots: Bulls taking profit (Bears covering) at same R (S) level as Bears (Bulls) see weakness (strength) and a clear ride (no highs/lows/SS//HM,HW, lvls).

The 5 Truths

Anything can happen.
You don’t need to know what’s going to happen next to make money.
(With any edge)There is a random distribution between wins and losses.
An edge is nothing more than an indication of a higher probability of one thing happening over another.
Every moment in the market is unique. Each trade/edge has a unique outcome.

There’s no stress because nothing is at risk other the cost of doing business/the amount of money I need to spend to make myself available for the winning trade.

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Tuesday 22 April 2014

R-1.4 EJ Not Very Well Correlated With EU and GU

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