XAUUSD(Gold) TradingJournal - Charts&Commentaries – by Wibie G | Page 3 | Metals Mine

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XAUUSD(Gold) TradingJournal - Charts&Commentaries – by Wibie G

  • #41
  • Apr 19, 2019 1:51am Apr 19, 2019 1:51am
DATE: Fri, 19 – 04 – 2019

TRADE: Market is closed (International Holiday, Good Friday)
TYPE: -

CHART:
-

COMMENTARY:

Feeling:
Relax..

Results:
N/A

Learning:
N/A
  • #42
  • Apr 22, 2019 10:51pm Apr 22, 2019 10:51pm
DATE: Mon, 22 – 04 – 2019

TRADE: Sell (not taken, not all criteria were met)
TYPE: Reversal

CHART:
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD.mH1.2019.04.22.png Size: 57 KB


COMMENTARY:

Feeling:
Tempted. Another multiple-setups situation came. It eventually went to expected direction and TP, before hitting SL first. I’m glad I didn’t go with the temptation to just open this Trade.

Results:
At first, there was an early-broom Breakout on Candle 04:00. Then, there was also an obvious bearish Reversal against a Fractal Level on Candle 06:00; so, I went with this latest setup. Candle 09:00 was supposed to be a Reversal Continuation Candle for the Setup. It did go bearish, but it was too much, too soon, because it closed below the existing Lower Chandelier. Hence, I decided not to trade it. Price later on when against the Trade and hit SL (spread considered), before went South again. If I was in that Trade—and assuming the initial SL wasn’t hit, I would’ve closed my Trade on Candle 18:00 as it touched expected TP as the 3rd TBeC but only closed above it.

Learning:

  1. Missing an opportunity is better than missing the money if you violated your rules.

  • #43
  • May 30, 2019 8:46am May 30, 2019 8:46am
Hi wibie, thanks for sharing your journal! I've enjoyed reading up on your trading rules, even though I'm catching up late. Are you still planning to update your journal? I know you strive for boring in your trading but I found your insights useful!

The sessions you trade are in the middle of the night for me but I have been developing an interest for how metals behave in the the Asia markets. Looking forward to reading more from you!
  • #44
  • Jun 15, 2019 4:56am Jun 15, 2019 4:56am
Quoting bigtx
Hi wibie, thanks for sharing your journal! I've enjoyed reading up on your trading rules, even though I'm catching up late. Are you still planning to update your journal? I know you strive for boring in your trading but I found your insights useful! The sessions you trade are in the middle of the night for me but I have been developing an interest for how metals behave in the the Asia markets. Looking forward to reading more from you!
Hi bigtx,

Thank you so much for your enthusiasm following this thread. It means a lot to me.
I had to discontinue it due to change of lifestyle that requires intensive working hours. The fixed schedule of the strategy just couldn't be suitable for my activities from then on. I'm now going back to my D1-based strategy.

All the very bests,
Wibie G
  • #45
  • Jun 17, 2019 2:16pm Jun 17, 2019 2:16pm
Quoting wibie g
{quote} Hi bigtx, Thank you so much for your enthusiasm following this thread. It means a lot to me. I had to discontinue it due to change of lifestyle that requires intensive working hours. The fixed schedule of the strategy just couldn't be suitable for my activities from then on. I'm now going back to my D1-based strategy. All the very bests, Wibie G

Sorry to hear that your schedule is constraining - I certainly understand that myself! Is your D1 strategy similar, just on the daily timeframe rather than hourly? Not sure if you've been trading in the interim but there has been some interesting movements in gold of late.
  • #46
  • Jun 18, 2019 12:53am Jun 18, 2019 12:53am
Quoting bigtx
{quote} Sorry to hear that your schedule is constraining - I certainly understand that myself! Is your D1 strategy similar, just on the daily timeframe rather than hourly? Not sure if you've been trading in the interim but there has been some interesting movements in gold of late.
Thank you for the empathy, bigtx!

The D1 Strategy has totally different approach. And, yeah I rode the trend and closed it last week. Waiting for another one.

All the bests to your trading journey!
  • #47
  • Jun 18, 2019 12:56am Jun 18, 2019 12:56am
Quoting wibie g
Missing an opportunity is better than missing the money if you violated your rules.
Love this.

Quoting wibie g
The D1 Strategy has totally different approach.
Got a thread for it wibie?
  • #48
  • Jun 18, 2019 9:31am Jun 18, 2019 9:31am
Hey wibie, nice thread, I'm just finding it.

Before trading I played poker and when you say the boringest trader will win that reminded me of my winning days at poker too (you have to slow play and know when to take a risk). I've developed a similar perspective over time and would personally translate "boring" into "patient". I prefer that word because when I have traded longer time frames successfully it is boring 95% of the time with short spurts of high excitement here and there as well.

I'm glad you have a D1 strategy now. It is much easier than H1 when you are trading with time constraints but you can still capture price movement on fundamental drivers. I hope it works for you and look forward to seeing any posts about it.
careful not to step in a pile of it
  • #49
  • Jun 19, 2019 1:33am Jun 19, 2019 1:33am
Quoting bulltrap
Hey wibie, nice thread, I'm just finding it. Before trading I played poker and when you say the boringest trader will win that reminded me of my winning days at poker too (you have to slow play and know when to take a risk). I've developed a similar perspective over time and would personally translate "boring" into "patient". I prefer that word because when I have traded longer time frames successfully it is boring 95% of the time with short spurts of high excitement here and there as well. I'm glad you have a D1 strategy now. It is much easier...
Thanks bulltrap. Truly appreciate the support! Yup rewording boring to patient certainly would help.

Quoting Goat
{quote} Got a thread for it wibie?
Not at the moment. Its posts here would be too scarce anyway, as signals would not happen so often even on a weekly basis.

I'm developing an H4 strategy in a weekend, and testing it on demo in weekdays. Intention is to fill-in the boring, no profit period in between the D1 signals. When I decide to use real money, I may not trade every valid opportunity of the strategy, again due to my schedule. So not sure about journaling it her either.

Regards,
  • #50
  • Jun 19, 2019 2:16pm Jun 19, 2019 2:16pm
Quoting wibie g
Learning: Missing an opportunity is better than missing the money if you violated your rules.
Great lesson! Always stick to your guns It's easy to let emotion slip in.
  • #51
  • Jun 19, 2019 3:07pm Jun 19, 2019 3:07pm
Quoting wibie g
Learning: Missing an opportunity is better than missing the money if you violated your rules.
Yeah, but missing the good opportunity or opportunities produces some of the nastiest feeling out there... In fact I sometime prefer to trade, even for the risk of losing than not entering and seeing I was right. Of course a good balance of the principles is needed, but sometimes missing the golden opportunity/ies really burns
It is a very philosophical question in fact Imagine you missed an opportunity to make $10million out of $100USD Would loosing 1k be worse? And just to say, without going further... this DID happen, if nowhere else, in some crypto world.. but happened in trading also, is happening, will be happening again

In fact, I decided to rather BURN some money and be CALM... I tried, failed... than not to try and wonder... or see it in retrospect. Did happen, I missed some clean long trends, perfect for milking... but was thinking everyday.. (it might not last), but it did, for 6months! very clean... I still rather not to think about it. I briefly calculated in retrospect.. but I rather not in details, at least for now

In fact, some wisdom words say it it that we do not regret the loses but the risks we didn't take!
I tend to believe.... I rather TRY and FAIL than not to try and wonder/regret forever...

But of course I get your point Very good to see the "dodged that bullet" trades
Can you afford to take that chance?
  • #52
  • Jun 27, 2019 12:12pm Jun 27, 2019 12:12pm
Quoting wibie g
The D1 Strategy has totally different approach. And, yeah I rode the trend and closed it last week. Waiting for another one.
Quoting Goat
Got a thread for it wibie?
i second that... i'm on the lookout for ideas for trading on the daily that complement my method
Keep It Simple With Sentiment (KISWS) - Trade and Profit like the Pros!
  • #53
  • Jul 12, 2019 10:00am Jul 12, 2019 10:00am
where ya been wibie?!
Keep It Simple With Sentiment (KISWS) - Trade and Profit like the Pros!
  • #54
  • Last Post: Aug 8, 2019 3:06pm Aug 8, 2019 3:06pm
Quoting wibie g
{quote} Thanks bulltrap. Truly appreciate the support! Yup rewording boring to patient certainly would help.
Hope you didn't get bored to death . Things got verrry interesting lately and many trader's patience has been rewarded.
careful not to step in a pile of it
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