marketrhythm and trademanagement
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Thread: marketrhythm and trademanagement

  1. #1
    Launching a tradingjournal is simple, keeping it's more difficult, as a result of methodological distractions and fruions as a result of losses and lack of discipline. It's this journals intent to monitor an approach that appears to be the most fundamental in FX:
    Price moves, reaches a s/r degree, retraces and moves towards that level in order to break it, or price breaks a degree, retraces to it then bounces from it. This behavior can be loed on every timeframe.
    Degrees are plogical amounts, high/low's, trendlines or even moving averages.
    I mostly link to trendlines and moving averages.

    Another topic I would love to cover as this journal proceeds will be trademanagement. Quite an issue I hope to solve or that I aspire to finde some peace of mind about it since the tradingdays go on.
    Capital preservation should be the primary concern. R being the pips risked per trade, I'm going to reduce the sl to -0,5r or set the transaction be after 0,5r was reached. Profit target ought to be realistically determined by chartanalysis, but 1r.
    I risk 2 percent of tradingcapital on every trade.

    The interval traded is 4h, 1h, occasionally for ancient entries 15min.
    Marketrhythm detection (as taught by Philip Nel) will be crucial for this trading, using average price high/lows, candlesticks, 21ema and 8ema and trendlines.
    I really don't tag this method a method, because I do not want to squeeze it in into a rigid framework of rules.
    Also the the mentioned trademanagement is more like a guideline than a ruleset. I'm hoping to loe a process to safely deal with the transaction to profit driving the trend or profiting from the range.

  2. #2
    on 1h eurusd is testing tl
    shing to 15min for premature entrance

    price has analyzed the tl and came back to 21/8ema. Bouncing off 21ema and final below 8ema and below tl

    shorting eurusd on 15min @1,2396, r=20, risk 1% because of small tf

    edit:
    commerce has reached 0,5r, sl set to become

    edit:
    sl be struck

    edit:
    price has stalled around a second lower tl. Could still break it. But I prefered to set be in the event of a bounce

    edit:
    eu has definitely broken tls and would have reached tp of 2r today


  3. #3
    shorting gbpusd on 15min as early entry to 1h commerce

    price was made it through first trendline has formed a new low and then moved up to the tl it only had broken.
    From here it bounced of, closing below 8ema on 15min

    short@1,8428, r=25. 1% risk. At 0,5r, close to reduced tl I will set trade be

    edit:
    price has attained lower tl, trade set to be

    edit:
    sl be

  4. #4
    Hi ashes and best wishes for keeping up with your journal. I know that you're attempting to boost your trade management (are not we all) and I'll be subscribing to observe how it's going.

  5. #5
    Quote Originally Posted by ;
    Hello and best wishes for keeping up with your diary. I know you are trying to improve your trade direction (aren't we all) and I will be subscribing to see how it's going.
    Thank you, I'm curious how it's going on, also. Now I was playing it safe and overlooked the profits...

  6. #6
    equally gbpusd and audusd are analyzing the decrease tl's on 4h

    may get an entry on 1h


  7. #7
    on 1h
    shorting

    gbpusd@1,4736, r=50

    audusd@0,8754, r=45

    edit:
    gu has attained 0,5r, trade place be

    edit:
    gu sl be more.... a be again

    edit:
    closed audusd manually be.
    Fist:being worried about a broadening wedge pattern
    second:assuming a favorable correlation to eurusd, thispair is near a support zone @1,2240. Counting on a rebound, audusd could rise, also



  8. #8
    Now my play it secure and protect tradingcapital trademanagement has protected me from taking two sl's on gbpusd and audusd, but yesterday both of those 15min transactions would have reached 2r.

  9. #9
    I'll be seeing this eurusd tl closely for an entrance on 1h or 15min


    oops, missed submitting the chart. Here it's

  10. #10
    There goes the Euro entrance. I liked the H4 channel chart for GBP/USD. Here's a daily chart. Could be interesting?


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