EURUSD TRADE JOURNAL: R+0.5: Simple M Top Short, Could Of Held Longer (EU)

Tuesday 28 October 2014

R+0.5: Simple M Top Short, Could Of Held Longer (EU)

Few notes...

Marking M30 S&R as wider blue rectangles
Marking M5 S&R as narrower blue rectangles
At the moment don't have any problem trading off either type of S&R
But trying to let profit (PTs) run into M30 levels

EU Trade:

EJ Obs:

UJ Obs:

2 comments:

Trin29 October 2014 at 01:29
Nice job!
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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 28 October 2014

R+0.5: Simple M Top Short, Could Of Held Longer (EU)

2 comments: