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Thread: Linas journal

  1. #1

    I'll be posting my trades that I take about the demo using combined methods: Kolachi methods, Mouteki and basic support/resistance, price action, etc..

    Don't hesitate to post any constructive comments for this thread.


  2. #2
    Date: lt;st1eriod minute=40 hour=21gt;9:40 PMlt;/st1:timegt; 10/12 (10/13 GMT)
    Trade: Long EUR/USD
    Entry price: 1.25656 (oanda quote)
    Time frame: 1H
    Snapshots were taken in the beginning and end of the transaction Note: - 38 pips

    Reasons for accepting trade:
    1. On 4H wma5 changed the incline with Mouteki trendline in place. BUT IT CHANGED THE SLOPE 2 CANDLES AGO - I WAS LATE BUT GOT UPSET AND ENTERED
    2. On 1h chart price was quite close to ema100 and was planning to test it for the first time - really that was reason NOT TO TAKE THIS TRADE. But like I said I was upset and blind to all unwanted indiors.
    3. Another reason why this trade SHOUDN'T BEEN TAKEN - general leadership about the daily chart was down and that I was entering against the trend.

    Approaches (not followed really - hence a losing trade): Kolachi and Mouteki

    While in the trade: Could not track the transaction (European session)

    Reasons for final trade premature: Price was moving fast in the opposite direction (news). When I monitored it closely I'd have managed to close it on the news spike for a breakeven or perhaps modest profit.

    Actual price management: wma 5 repulsed of ema 100 and has been moving down helped by the morning news.


  3. #3
    Date: morning 10/13
    Trade: short EUR/USD
    Entry price: 1.25315 (oanda quote)
    Time frame: 1H
    Snapshots were taken in the start of the commerce
    Result: still in the trade

    Reasons for taking commerce:
    1. Wma 5 repulsed of ema 100 (Kolachi method)
    2. I'd Mouteki trendline set up
    3. Price was going quickly down based on the news
    4. Daily trend was down

    Opinion: Entered late

    While in the commerce: Price moved roughly 42 pips in my direction. Loss stops to 1 pip profit. Was very tempted to close commerce that could have given me internet 4 pips of profit for 2 days but resisted that temptation.

    Reasons for final commerce premature: Still in the trade with 14 pips. Should have shut it when wma5 changed incline on 1H chart but could not closely track trade from work.

    Actual price management: down

    General feelings: sorrow which didn't accept 42 pips profit. Will close as soon as market opens tomorrow because wma5 currently altered the slope.


  4. #4
    Posting some pictures would help a lot

  5. #5
    Attached is the 4 hour chart of EUR/USD for those transactions taken on 10/12 and 10/13. They had great potentials. First one was entered late and mismanaged; second - in.


  6. #6

    I'm in the same trade. I started it in 1.2546.

    The 5wma is beginning to turn back down(1 hr chart). If it takes a run in 21 ma it ought to be repulsed the first time it tries.

    The $ is still powerful major support comes in at 1.2454, and momentom is down. You kick yourself for not taking profits at 42 but if you depart as soon as it re-opens and then price goes down you'll really kick yourself then.
    Your thinking in a kind of fearful panic manner. Your self of that breaks.

    However, its all on a demonion right? Therefore it won't hurt to let it run its course. You cann't suffer a reduction as s/l is at B/E. Should you panic on a demonion just think what you'll do with actual cash.

    Just my opinion.

    Edit: look at the greater time charts. Kolachi method sugest a decrease move down. 4hr moment. . .5wma was repulsed by the 21sma. And on daily the price has gone beyond the 200 ema and continued that the break as the previous day tried to return above 200ema but couldn't. Day closed below.


  7. #7
    Quote Originally Posted by ;
    But its on a demonion right? So it will not hurt to allow it to run its course. At the least you cann't suffer a loss as s/l is at B/E. Should you panic on a demonion just think what you will do with real cash.

    I think if you do not exchange your demo as though it had been a live account, you will sorely disappointed when you do go live.

    Trading an account as though it will always only be monopoly money may provide you some insight in your own trading system, but it will not build you any discipline.

    Only my two pips...

  8. #8
    Hi Dave,

    I did an analysis for the week - attached. All the analysis is just a possiblity nothing else. Despite all of my analysis showing a short term uptrend potential, downtrend is rather possible. There's a bearish engulfing candle on the daily chart. Median fibos around the 4h turned down so price can go down and don't go beyond the next median fibo level.

    Regarding being fearful - it's true! I am attempting to play a job right now as when I'm investing in a true account. It works! I always try to consider what I would do if it were my real account and try to overcome plogical pitfalls related to trading the real money.
    Actually book Trading in the zone advoed by Dial helped tremendously.This is sort of a publiion that will be in my desk for a while until I internalize theories so much that they'll become my second nature.

    Thank you for your remarks!


  9. #9
    Quote Originally Posted by ;
    I believe if you do not trade your demo as if it had been a live account, you will sorely disappointed when you do go live.

    Trading an account as if it's going to always only be monopoly money may give you some insight on your trading egy, but it won't build you any discipline.

    Only my 2 pips...
    that you cann't trade a demo as if it had been live. Because its not. When you start to trade real money..Kenmainia. . .you'll find this out.

    And Like I said I'm in on Precisely the Same trade. . .Mine is real money and not small lot dimensions either.

    I didn't propose doing anything I'm not doing myself. (with real money)

    You should have misunderstood or I shoulda frased it otherwise.

    sry for any misunderstanding. I'm always here to help not hurt.


  10. #10
    Trading seems to be easy once you go back and examine the price action based on your own favoutite method till the stage when you need to place the actual trade when all you've got is a chart without continuation along with yourself with all of your insecurities...

    Only a thought which applies to me personally.

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