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Thread: PTFX (PaulTradingFX) on Daily TF

  1. #1
    Hello all.

    I trade on D1 largely, because I have neither a patience a desire to spend my time before charts.

    I use quite simple entries:

    PB - Reversal Bar (widely called Pin Bar)
    IN4 - Interior Narrowest of 4
    NB - Neutral Bar or Doji.

    These triggers should happen at installments loed in specific zones - SR (Support/Resiatnce) levels characterized by

    horizontal lines (PZ- Price Zones and RN - Round Numbers),
    diagonal lines (TL - Trendlines and AP - Andews' Pitchforks),
    and many rather unique moving averages (EMA/SMA) as Floating SR..

    Nothing new. I believe the key here is to remain consistent.

    I trade EURUSD, GBPJPY, USDCAD, EURCAD, EURAUD, XAUUSD (but now I don't because US broker laverage is 1:1 and that I need larger for Gold, so perhaps I will need to open an additional account, I am thinking of Alpari?) .

    My journal will not be updated exactly when I enter the transactions, I am sorry I just don't have the time or discipline. I know anybody can say I went long here, short here, however I do not care. This journal is mainly for me. I will be happy if it will be very helpful to newbies and other traders.

    I will not go into details about my egies. But I have completed in previously on other forums and it is always largely negative feedback. I really don't understand, are individuals jealous or something? I mean regardless of what system one would suggest that there will always be individuals who highly uncertainty and already know that it will not work in future.
    I'm a doubter myself, and it had been very difficult for me to convince myself to actually trust and trade the setups. What I have done I went in a record of charts to 1970's, 80's, 90's, and from 2000 until now. I found it working previously as it does now. I recall testing EURUSD I believe 2006 or 07 - was unprofitable, backtest actually ended in profit =0, but at the exact same time other markets were in positive gains using the exact same egy.

    I utilized Fixed Fractional percent Risk, however I ceased, and utilize now fixed $ number risk per trade. Yes, after a reduction I trade larger, but it's very marginal increase. I found it works better and DDs are regained faster.

    My installations are rated A,B,C,D - this is another way I control risk.
    Additionally, not all pairs that I trade with the same minimal risk. EURUSD, GBPJPY are the largest transactions, Gold, USDJPY and USDCHF would be the smallest transactions.

    RR is usually 1:2.


    Strategy 1: Post 20
    Strategy 2: Post 21
    Strategy 3: Post 22

    More about myself at the next post.

  2. #2
    And to newbies, please:

    1. Don't think trading is easy or you're kissed by God. It is actuallyn't. It might be easy but not straightforward.
    2. Please don't over-leverage yourself,
    3. Don't overtrade, don't revenge commerce
    4. Don't average down.
    5. Have life trading.
    6. Remember to devise decent trading plan and money management (or rather risk management and trade management - these are 2 distinct things).
    7. Take regular 1-week breaks from trading
    8. Don't pay sellers
    9. Don't use a system that does not match you
    10. Read, edue yourself, backtest the idea, devise excel sheets, and read more

    And not allow someone give you signs or worse: some internet guru to exchange your account! Never. Generally - not trust anybody when it comes to trading or trading eduion.
    If you require a mentor - choose well.

    Another thing is: Currency trading is a lonely journey. I am aware of, chat rooms, trading rooms, right here - interactive forum, skype, yes, this makes you feel much better. But: if you are considering that trading is a teamwork, if you want to exchange in a team, then believe me: it is not for you. Leave when you're still young enough to find a job.

    As for me I like to be left alone, always enjoyed it.

    Ah, one more thing: get from the sound from M5 to M30. Really. One day perhaps, but not now. Trust me on this 1

    I want you to combine the 5% that survive. Then the 1 percent or less of the elite.

    PS: the elite are lots of traders completely unknown to people.

    PPS: I forgot: if you're fat, pls do get fit, get some exercise, at least take a 2-3km walk in the morning. For your non-fat: you still require a physical exercise. Believe me, mind will like it.

  3. #3
    3/23 Buy@ 1.0424, SL:108pips
    Oanda charts Pin. 120SMA support. Large 50% swing service.
    Major PZ, but from prev H is later 50 percent Reaction.
    B/E 3/26. Strong day, feels great.
    Price reversed firmly against my trade, and so I brought SL to safe place making tiny profit. Better safe than sorry.
    14pips, 5 days in.

  4. #4
    3/26 Short 9965, SL: 92pips. Result: BE. 2 days.

    Range. After two declines Pin occurs at large PPZ which is also 38 percent retr. Of bigger swing down. EMA 275 res. Potential top to underside of range.
    SL to 1.0005 same moment. Okay is felt by day's finish. Yet another day bar that approaches half of OB - so half to BE, other half 1.0005.
    SL to 1.0005 later same day. Okay is felt by day's finish.
    Yet another day bar that approaches half of OB - so half to BE, other half 1.0005.
    At the end it seems dollar will strenghten, price couldn't even attain previous bottom. Quit to BE shielded me from loss. More and more I feel some transactions move from the very start or do not work out in any way.

  5. #5
    3/26 long @131.65 SL: 180pips Result: 59pips, two days

    Once down from ema 580, fad seems to resume at 50 percent with the two charts Doji. Otherwise take this chance the move may not be possible to ch.
    SL to 130 same moment. Day's end feels good. Next day Half SL into 131.48 (-17)
    Half closed at only 96pips due to opposite Pin forming. Other half closed at Pin stop inverse

  6. #6
    3/26 long@ 1.3267 SL: 141pips. Result: BE 2, 3 times

    After failed long, then short, I missed Pin off ema 120. Now's event-reaction gave me opportunity to get back long.
    Half SL to 1.3180 same day. Day's end feels good.
    Next day half BE
    Market went to DGL1 stopping at 707 retr. Showing it's bearish tendency. I'm glad I brought stops to BE wihout hoping for higher prices

  7. #7
    3/26 long@ 110.15 SL: 162pips, Result:-17, 3 times.

    Good RR, like GJ, NB. Basically JPY bigger place after losses. EJ appears great standing on weekly 52 ema high and 50% retrece.
    SL to 109 same day. Day's end feels great. The following day half BE due to unfavorable PA..
    I entered over RN 110, to avoid false movement, so the 1st half had been closed at BE, 2nd half has been shut at loss as I put SL at the exact entrance bar's high.

  8. #8
    3/28 brief @ 133.37 SL: 162p, Result: 31, two days

    Trading Range made in 131.18 PZ, additionally DGL and 580ema. I needed to brief it.
    After two days price is nicely down, SL=BE
    I anticipate GJ to react down to about 127, this way the butterfly goal will be met and good bullish reaction will form. . .unless it will not:]
    EOD brought PB forming at levels favoring long, so half closed@131.28, additional half ceased at BE.

  9. #9
    3/30 long@ 131.02 SL: 112p, Result: 151p, two days

    PB grown in an excellent area significant market let to go long. 580ema, RN, 50 percent retrece, Andrews' Pitchfork, DGL - all lined up.
    Entrance on half PB. TPO almost hit (by 20 pips), therefore that I bring SL very close to132.52 on Mon.. TPO attained on half 151 pips.
    Stopped 2nd half, needed to closed it as near first TPO as possible. Do not behave like trand, much more like Trading Range.

  10. #10
    3/30 long@ 109.58 SL: 91p, Result 117p, two weeks.

    Uptrend, PZ, 50% Nominal, 52ema weekly.
    Appears like PB but shut in half, not perfect, but the tail EUR GJ also reveals long, I entered halfPB long.
    Brought stops quite close over the weekend.
    TPO hit during the Sunday pub (Oanda charts).
    Mon afternoon SL 110.50 struck, commerce closed in profit. Maybe this trade needed more patience?
    Nope, not really, really shortly price went straight down.

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