Trading Journal (only my take)

OK...I was messaged and asked how I decide PO levels.

Firstly, if there are questions, ask here, not by messaging, most of what I do will probably have been covered.

Regarding the recent question, I'll answer up to a point for obvious reasons ie it's not in my interest to detail it all, but I'll mention the route at least.

Most charts we see are complicated, and that usually leads to confusion. Removing confusion has always been my original intention, and to do that meant getting rid of superfluous 'stuff' to allow me to see only what I need to make a reasonable decision. Of course a reference is needed to help the decision making which everyone needs whether people realise that or not, and can take dozens of forms.

My preferred reference is in the form of a particular market pattern which I identify and from which enables me to project going forward. In short, it can be considered as divergence or convergence, but not in the conventional sense, in other words no macd oscillator or indeed any other oscillator is involved, because everything I need is on the main chart. Charts that I post contain the raw bones obviously, but with detailed labels of all the levels, and anyone who might have followed my trades, along with the management of them, would have found themselves in a very healthy position of profit too!

I realise my approach is unusual, nevertheless, it is my bread n butter method.....and earns me money!

Threads threads threads....everywhere you look.

All peculiar for different reasons. I read a couple of posts in the discussion section recently and it seems nothing more than like a squabbling bunch of egoists, each trying to convince one another how to successfully trade.

Surely if someone, for whatever reason (usually to be recognised and nothing more) wants recognition, then forget about explanation, and simply post 10 trades live. People will take much more notice if those trades have a high success rate, and it cuts out all the bs in the process. Having said that, I see no advantage in revealing in detail a successful strategy, but if those guys lacking in ego feel compelled to post their secrets, then do so via 10 live trades with clear entry exits and tps before prattling for weeks on end!. They can detail their process after the 10 trades have completed, and when everyone can see for themselves their success/failure rate!!

Will they do it? Of course not, they just like the sound of their own voice only, and can't back it up with successful consistent results. If these guys think I'm wrong, then PROVE IT, or shut the hell up!

Right to the point! At least 1-2!

Repetitive twaddle seems to go on and on on in the discussion threads.
Beats me how people can keep talking the same ol same ol day in day out…I guess it’s called brain washing the brain dead.
These ego-driven maniacs are rife, and if they reckon they are soooo good, then put a number of live trades up in real time or shut up.
If they are as good as they make out, then it shouldn’t be a problem to them but on the other hand, if they are talking nonsense, then either they won’t put any live trades up, or any trades that they do put up fail.
Given these options, I think everyone knows already what’s likely to happen!

hello LL,what is this incdator that mentions trades or positions in your chart with TP and SL,im using pvsr indcator that has labels in it,so i like without labels,would you please share with me? thanks

Looking around the threads, nothing’s changed, no improvements, nothing to inspire learners, but plenty as usual to send newbies down the wrong path imo.
Old hands continue to serially post the wrong stuff in the main, where pretty much everything said would have already been said 10,000 times before.
These old hands, with thousands of posts behind them do not win or are at best 50 50, and that is being generous.
A lot of them have similar traits and a common one amongst others is that they think they can predict what the market is going to do on an intraday basis using small time frames and small stops.
They are all so wrong, and their results prove it (well that is when they post a live chart). Of course they are master traders when posting their hindsight trades hahaha.
Small time frames with hardly any stop is a recipe for disaster in the long run, because no one knows with any degree of confidence what will happen next, and yet these experts post their charts with all their colourful zones and notations sucking in all the newbies or unknowlegable people with their apparent convincing words.
The whole site is littered with these ego bound attention seekers and FF can do nothing to filter them away.
I’ve attempted in the past to advise these kind of individuals what to do, but, their egos won’t allow it.
I operate on longer tfs with realistic stops etc, more or less position trading you could say. A trade could easily last 6-8 weeks if triggered. I don’t have dozens of trades open, and I might typically open 15-20 trades a year give or take, but I guarantee that my bottom line will be significantly superior than the 15-20 trades per week merchants!
I’ve posted enough trades over the last few years to see my level of returns along with explanations on how I manage open trades.
I won’t be going into the same level of my trade management and labelling on a chart, but I’ll see about posting a trade or at least a pending order within the next week or so.

It’s been a while, but thought I’d have a look around.
Same stuff…nothing changes. I reckon this site is only for losers…winners don’t have any need to post.
That said, I’ll offer some guidelines for those trying to win, and bear in mind, that time and price rule!

Dont be guided by the 99% losers
Get rid of everything on your chart
Start afresh
Apply a couple of references only on main chart, moving averages work well
Candles clutter and add unnecessary confusion..get rid, use a closed line chart
Forget t/fs lower than 4hrs
Use pending orders
Allow for market fluctuations with regard to sensible stops
Set targets, and adjust if required
Know your rules and stick to them, we all have different rules, so don’t allow other people’s rules to affect yours. After all, theirs are probably not well thought out in the first place
Be patient,

A chart should be clear except for the above refs, anything more and you’ll be confused and start doubting yourself
Do yourselves a favour and trust yourself!

Some, may have seen the apparent simplicity of my charts previously, but whilst they are simple, they are carefully considered, and only contain the stuff I need….everything else is superfluous and becomes nothing more than distraction

When you’re done, post a chart as an example, and I’ll critique it if you want.

I guess everyone must have their charts sussed out..haha.

Here's a trade looking to set up, you can see the 3 po levels that I'll take in a few days time, and they'll stay there, potentially for weeks before triggering, unless I have good reason to cancel beforehand.

Take it or leave it, makes no difference to me, but I'd suggest you have a little think why would I possibly choose there. You can thank me another time.

It has bars, cos I know all of you lot can't live without them haha.

Ok…as discussed, 3 po’s for cadjpy longs now in place. I can’t be sure when any of them will trigger of course.
Ill post a chart when something interesting occurs on the trades, for now it’s simply a patient waiting game.
Any questions, then ask

As a reasonably successful retail trader, I know the things that I can’t know. For example, many on here think they know when a market will do this or that. They don’t know full stop, as indeed neither do I.

Success revolves around a number of elements that must be considered. I have mentioned most of these in the past, but I’ll briefly list them again in what I consider to be the right order based upon any developed method

1. Trade identification
2. Trade levels for execution
3. Trade management
4. Trade additions

All obvious I know, but unfortunately ignored by so many.

I have discussed and shown quite a few trade examples in this thread that covers the above in fair detail, so I’d suggest look back to get an idea of how I handle live trades.

Obviously the one thing that the majority of traders seem to lack is patience, so if you don’t have that in your personality, then you will lose!

A position has been triggered on CJ, nothing particularly dynamic to say at this very early stage, and no point posting a chart at present until the trade gets more interesting, and even then not sure it will make any difference to anyone…people like squigly indicators and all that nonsense haha

Keep things as easy as possible, follow the basics laid out. Trade identification…can the market be identified as a buy, sell or neutral, and ask yourself why. Keeping the reason straightforward means that a reference or two will be needed, because the price alone will not be enough. References can take a number of forms, I like ma’s, and funnily enough all indicators pretty much revolve around ma’s anyway.

I may talk about the next element… trade levels for execution next ie what happens to make me decide them, but with little interest here I may not waste my time…we’ll see.

3 long positions have now triggered on CJ as previously shown.
Nothing much more to be said at this stage because patience is always one of the main keys required to be able to trade profitably.
I could post a chart but doubt that helps anybody else, it doesn’t seem to have in the past, so unless asked for then I won’t bother for the time being.
Ill get back to this trade in a week or two with an update as I expect interesting action to take place within that time.

Ok, back to CJ, the 3 longs are doing ok at present, currently about 350 pips net.
I do expect retracement of course, nothing moves in 1 direction very long, so whilst tempting to take some off the table now and I know most of you would (and there’s no right or wrong btw, none of us can be certain what will happen after all), but I’m holding what I’ve got for now.
The trades are still not safe, and I’ll be monitoring and maybe make stop adjustments later this week.
As always, those without patience will fail in the long run, because they either cut their losses too soon, or cut their profit too soon…either option without good reason will prevent long term success.
Again, no interest shown here, so therefore not much point in posting a chart.

All 3 positions on CJ now closed for a net profit of 520 pips!
I will be away for a few days, so would be unable to easily manage them at this crucial stage.
I expect retracement in any case so it’s not a bad time to close, and re enter more pending buys which I’ve done already at similar levels to the previous set.
No one took note when I presented these trades with a chart a few weeks back…an opportunity missed and I did say take it or leave it….it was leave it evidently haha

As previously mentioned, CJ pending longs were placed, of which one of the positions has triggered.
The market is fluctuating at present, not much more to say.
No point showing a chart for now unless asked for for some reason…there’s nothing interesting in the positions at this moment.

CJ update
1 out of the 3 po’s triggered and doing well at this point.
I’ve adjusted the stop to offset some of the risk but not all. Retrace in the next 24 hrs is quite possible, hence keeping a healthy stop for now.
I’d have liked 2 positions minimum to allow more trade management flexibility, but that’s not the case, so rather than close the position, I prefer to accept reduced risk in antipation that once the NFP dust settles, then perhaps the position will once again move favourably up. I don’t know whether it will of course, but I believe it will, and belief is half the battle after all!
I’m not posting charts, mainly because I’m the only one who reads this haha, but I could do if anyone needs a pictorial image of what I’m doing.

NFP numbers were kind, and my CJ trade moved nicely. I may adjust stop level further soon to lock in profit, but I will wait to see what reaction occurs during this week before doing so and I’ll have a better idea by Thursday what’s happening.
I suspect stops will be attacked, so on that basis I plan to sit tight and look for a potential add on position at value.
I’ll update later in the week when the dust has settled as previously mentioned, and the trajectory of the market becomes clearer to me.

CJ stop on my open position now adjusted…position safe and still with a fair stop whilst still allowing for any dramatic move down.
My other 2 po’s on this pair have been amended with what I now think could be value levels in the event of further retrace down.
As usual of course, nothing can be certain or guaranteed in Forex, but persevering with a proven approach that wins in the long run becomes the reward. Many probably think the same, but don’t know how to get there, often thinking that pretty indicators and serial brainwashing posters must be the way….I think not!
Clear your mind of all the nonsense and claptrap….my advice is focus on the market, and not on the small time guessers who form the bulk of posters on FF.
No point posting a chart btw for reasons stated before.

The pairs I have in play are doing well, and CJ (the one I’ve documented here) is also still doing well.

This pair is likely to retrace as does every pair of course, I have PO’s in place should there be a dramatic drop this week.
My open position remains healthy and at present I have no reason to cash out, although I’m sure most would have.

No chart unless someone wants to see one, otherwise words will do.