The supermatt price action rollercoaster
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Thread: The supermatt price action rollercoaster

  1. #1
    The time has arrived and I've established a Journal for my own trading.

    First a little about myself. I am 24 (man ) from Australia sorry I am not a sexy female trader from Australia who trades in a bikini Anyway I've just been studying forex for approximately 8 or 9 weeks but might as well just say its been a year. I came across the J16 manners probably 3 or 4 months before, and prior to that did the whole indior matter but I figure its almost a necessity to return this path as I believe you understand exactly what everything is about and then decide to ditch it afterwards. (which I did )

    I really like price action and blank charts and that I really like the j16 method of trading. I wouldnt have it any other way. I did open up a live forex account a while back and traded a little account. I dropped $50 and felt terrible due to how my feelings just got totally out of control. It was incredible the amount of stupid absurd things I did when I had a losing trade, such as fall down to 5 minutes interval and trade any old approach to try make my reduction back ( obviously I dropped more ) You all know what I am talking about and it SUCKS!! Worse factor in my life to encounter. Never felt so out of control! I learnt a lot going through this. Its nothing compared to what Jim dropped and many others but hey I believed it in my way! Even lost sleep over it. dam!

    I used to be a noob back thenI am. I'm grateful I had enough brains to leave live trading until I dropped it all and spend more time on eduion and loing James16 to better myself as a trader! .

    The reason I am starting this diary is I am sick of screwing around online demo. I've restarted my demo account that lots of times due to a number of reasons.
    A couple of them being taking transactions that DONT agree with J16's minimal requirements. Like taking touch transactions, going to reduce time frames and all that and sometimes getting burnt. I wouldn't have the balls to do them live yet so why should I do them Demo.

    I only want to put together month after month of after the daily and weekly chart and adhering to a set of rules and not taking trades I wouldn't take if I was trading live! I want to have up to date information of what I would be like if I was trading reside. It's totally inaccurate what I've been doing lately and it really annoys and frues the hell out of me. I guess these last few months are me trying to put that into practice but still dring away into other methods versus sticking with one sole technique. How are you ever suppose to own anything if you're constantly dring away to another method. Its just counter productive in my view.

    I am one of those people though who readily drifts methods when I see somebody post up how that they trade, like some of the more seasoned members on j16. I get sidetracked on what they're doing as it sounds so easy looking in their charts, when I must just concentrate on what I am trying to achieve! I guess I want it all now and I don't want to wait. I want to be great NOW, I wish to take all these mad touch transactions the guys take in j16 but it doesn't work like that so I am working towards the significant end picture. One step at a time.

    If it's good enough for Jim it is MORE than good enough for me!

    I currently find myself every wkend studying through jims posts to try and regain direction after I just confuse myself and lose concentration of what I am doing during the week lol! I shouldn't have to do this as I am focused and find inspiration via jims posts every time I read them! Hopefully following the weeks go by I ought to be able to just stick to a game plan and just do it.

    I need to have a very simple trading plan. Like really simple. I am the kind of person who analyzes everything 1 billion times over and changes his mind every 2 seconds. It kinda annoys me! My egy going forward is this

    Play just pin pubs and outside bars on daily, weekly interval at obvious swing high and swing lows.

    Nothing complied, just await them!

    My goal is to demo this for a few months. Maintain working my part time job to spend less and maybe in a year or so fund my live account with a decent capital base for a 24 year-old!

    Thanks for reading I will be updating this all of the time together with charts!

    Oh yeh and I am aware that there are a million newspapers on here but that I just created this for myself but am more than happy if you want to follow

  2. #2
    Hi All,

    Matt, I believe you're on the ideal track looking for snare and outside bars at resistance levels. that's precisely what I have been looking at since mid October. What I have found so far is this - the good signals come but they take their time!

    Take a look at this chart, we got a fantastic bearish engulphing pub at resistance late in October, then mid afternoon November gave us a pub that supplied a trading range for many days, the break of the temptations of the pub kept price shing down before finally in late November an superb pin bar off of a service level formed. So that's what? Say 2 or 3 signals per month!

    I believe watching the daily for signals is a strong way to trade and you ought to be happy to wait and observe and then act when the signals do appear. Just zoom out and then draw on your S/R levels wait patiently and see what price does at these levels (seeing to your signs ).

    Please pardon me there is an indior on this chart. I only wanted to post without having to completely update a chart I had done up. You could most surely of traded that this chart with no AO I was only using this type of a conformation/second entrance point for my blog (shameless self promotion LOL).

    Good Trading to you all,

    Dan

    p.s. I was extremely dissapointed to learn you weren't a bikini clad lady named Matt.


  3. #3
    I really dont understand about trading these tremendous pins. I have seen them and they're highly suspicious and I believe we might get a breather after yesterdays/todays intense moves. I duno just a suspect

    light sweet crude pin. Probably more so at a consolidation pattern but I like looking at other markets like futures aswell as fx

  4. #4
    I agree.... The above mentioned pin doesnt count.... Not a good one although large....

    But I sure like the one on GBP/JPY daily...!!!!

  5. #5
    Subscribed!

    We are gonna find this stuff buddy. Write up some solid, specific rules. Post EVERYTHING. It rocks at month end being able to return and see what you did.

  6. #6
    I have been studying late's silent service thread. All about simple support and resistance and pinbars mixed. It is comparable to j16 but I like reading through additional threads to find out how other traders trade, as I havnt found what kind of trader I'm yet.

    Well I am still very confused on what I am doing. I keep trying to find a way to see to my charts. Everything seems to look like its to cluttered if I have nothing in my own charts.

    I'm increasingly starting to think I will just look for pins, outside bars that are obvious and also at swing highs and lows. I need it simple.

    After I start drawing lines in my charts and trying to match up points I only get confused and cant see. We will see how it goes I guess.
    Kinda an extremely fruing time right now and I'm abit down. Every transaction I look to perform loses.

    My buy and sell stops happen to be getting triggered by a pip or so then turning immediately afterward I've got a losing trade basically straight away. Not ideal.
    I'm thinking I can increase the space away to perhaps even 20 pips to get a limit order!

    In conclusion I believe but am not completely sure lol all I will do is straightforward simple simple things. Man its what I need to do
    pin pubs, outside pubs, swing highs lows. Thats it.

    I keep repeating myself lol but hey as I mentioned, I end up doing 200 circles round and round before I settle on something.

  7. #7
    well my corn beob eventually broke and I took the eg beob aswell
    both made some pips on so fairly pleased. finally.


  8. #8
    Well done!


    I assume this isn't happening any longer?

    Quote Originally Posted by ;
    Play only pin bars and outside bars on daily, weekly timeframe at evident swing high and swing highs.
    lol

  9. #9
    Lol, I had been thinking about it . If I see a big bar of any kind im guna just play it if I believe it has potential. I was feelin it on eg because there was a 2 day pin pub in a swing high and that beob in a minor swing high possibly telling me it was guna break the 2 day snare. ah well

  10. #10
    Hello fellow Aussie,

    I have read your journal and it is so funny as your story sounds similar to mine. I'm now discussion PA and Support and Resistance... have been considering joining the paid membership J16 as I feel I need the support. I'll keep watching your journal to see how your going. Perhaps I can learn something from you also.

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