Trading Journal (only my take) - Page 2
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Thread: Trading Journal (only my take)

  1. #11
    Quote Originally Posted by ;
    It has been a surprisingly quiet days trading considering the number of red news events, and Thursdays are usually the moving day. A funky Friday may be in store. . .maybe there is some hot gossip in the pipeline that joe public has not been allowed access to yet. . .NK springs into retailers are always last in the food chain.
    So NK started again afterward. . .you would have expected a bigger market reaction, and yet it was just retail trader reaction thus far. This implies to me that something else is afoot we are oblivious of right now, possibly a US bodily response in some shape or form, and will be the main alyst where the banks/institutions make their moves.

  2. #12
    I don't think that it's a good time to take any new positions on the market at present. I can imagine the US generals have steps in place, and it's not difficult to likewise envision their presence will be felt soon I'd expect in the form of a couple of aircraft carriers in the area (and of course their present subs) will be the next logical move.

    However it's played, it will be the brokers who win the current market conflict, as the average retail trader takes more positions. I will not be adding to my own positions personally, as I read the scenario as a gambit at this stage in time, technically, fundamentally and tactically.

    Nobody knows for certain how the markets perform from course, but Tump was fairly silent, and probably been advised to keep his gob shut whilst the military are taking up their positions is my figure. Decisions decisions....for all!

  3. #13
    Someone PM'd asking what method I use.

    I do not want to go into too much detail how I make my trading decisions, but I will say the time and price relative to the t/f I am trading are probably the two most important ingredients out of the 4 (occasionally 5) components that I use.

    In my case, it's all subsequently boiled down and simplified for my specific approach, and which will of course be quite different for each person.

    I've seen lots of weird looking charts (I won't mention their name(s) lol), but in most cases, with a few exceptions, I think they have got themselves confused and usually end up double doubting themselves.

    I've also seen some grid threads lately. In my opinion, grids are a risky means of trading. I was involved in the Quantum thread a few years back, which was a type of grid method, albeit using a Quantum indior as opposed to some set grid, but the fundamental principle was pretty similar.

    Drawdown has been the issue, and no doubt still is. There'll be several months in which everything is hunky dory, and seemingly impossible to lose. However, in the instance of Quantum back then, and most likely the grid approaches too I'd expect, there was always a disaster trade, and as I recall happening every 6 months or so. Perhaps folks have figured out how to effectively trade those sort of systems nowadays, good luck to them anyway.

    I'll be looking to post a few more live transactions Monday possibly if there is a good looking chance, meanwhile my existing transactions posted are ongoing.

  4. #14
    Quote Originally Posted by ;
    Somebody PM'd asking what method I use. I really don't wish to go into a lot of detail how I create my trading choices, but I will say that time and price relative to the t/f I am trading are probably the 2 most important ingredients out of the 4 (sometimes 5) components that I utilize. In my situation, it is then boiled down and simplified for my particular approach, and which will of course be very different for each person. I have seen plenty of weird looking charts (I will not mention their name(s) lol), but generally, with a couple exceptions, I think...
    right all said about grids, they're risky.
    plain or martingale, doesnt matter.
    The only thing you can do is pick as carefully as possible to beginning point, and restrict the maximum drawdown to a point where the dent on the account will probably be relative managable compare to the gains it offers.

    That stated, all trading is risky per se.
    While everyone is out for the certain thing, there's no system that is 100% win ( even if time there are these threads by idiots or scammers!) , or even if there's some, that messed up with faulty cash management, covetous position sizes, ignored SLs, etc.. .generally the trader's decisions based on his feelings.

    A fantastic sytem can still lose money on bad risk and cash management,
    a bad system still can make money on great risk and cash management.
    In the end, trading is to make money, whatever works= makes money for each person, is best practice!

  5. #15
    I really don't wish to get overly hung up on the different ways individuals trade. I will say, however, that any method used should have justifiion for your entrance and the exit. In the instance of gridders for example (regardless of what type of gridding is being used), their first entrance is generally based upon a technical rationale one way or the other. No problem on that part, however, then it seems that no justifiion to include further orders aside from a grid line level is utilized. In my head, that is just plain and simply the incorrect method of trading.

    This means that initially, a justifiable technical degree was applied to enter a trade on a grid system, but surely no further technical consideration is used afterwards, and means that any added grid-based orders may run against you multiple times before the market yields into the favoured direction. A 30-40-50 pip profit can eventually materialise, but the rr is bound to be bad, not to mention the duration required, the accompanying stress, and potentially deep pockets required.

    Overall, I could never recommend gridding personally. I think it's much better to take a reduction, and then re-enter if the technical justifiion to do so yields, and the same principle really applies to all procedures btw, not just the gridders out there.

    Like I said, I do not wish to get overly hung up with this, but it seemed an appropriate time to bring the drawbacks of this style to others focus given the increase in threads that promote that approach, either way, traders need to be very conscious of the risks involved and also to understand the common sense needed as I've laid out, before going down those sort of paths.

  6. #16
    Quote Originally Posted by ;
    so far as I'm concerned. Because of this, in concept, only real traders fulfilling these first main rules will bill transactions and I don't anticipate many (if any) will. Following is a Gold trade on Daily that I'm involved in right now. image
    I have now closed out 80% of the Gold trade and adjusted the halt on the rest, everything secure now. I opted to give it a chance for a potential favourable gap , no deal, so happy to take a big chunk today instead and let the rest run. It seems like it might retrace up a few to me via the h4 chart attached, and I will get back on it does so and look for another shorting opportunity maybe tomorrow or perhaps Tuesday.

  7. #17
    Reckoned it was time to get involved now. EG h1 fits my kind of tap situation to short.

  8. #18
    Quote Originally Posted by ;
    Reckoned it was about time to get involved now. EG h1 matches my kind of tap scenario to short. image
    Man. . .that was shot out in a couple of minutes. I will hold fire and assess before further action.

  9. #19
    Not too many pairs have fascinated me now that fulfil my own criteria to add to what I already have in play.

    ECH on the daily though is great enough to short to me, and that I finally have a pending group in place, which I will manage if/when it evolves.

  10. #20
    Quote Originally Posted by ;
    quote I happen to trade when I see an opportunity to go into a place.... However, I don't see how your question is relevant to whatever I've spoken about.
    I did not mean to offend you in any manner! I apologize if I made you uncomfortable. It was simply an attempt to get to know a bit more about who I am/will be interacting with. That's the reason why it was a negative question. Not important.

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