Dianes journal
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Thread: Dianes journal

  1. #1
    Hello!
    This is my first article and yesterday I made my first trade working with a real system. I went in USD/GBP yesterday night in 1.9846 about two hours before the daily candle shut. The Cause of this was a cross from the RSI and the MA. Ordinarily It is bed time for med while the candle shuts but I have noticed that (and I want it to be this ) the pairs don't move very much the last time before the candle shut.

    I've read the e-book about the 8and8 method twice and the thread about The Daily Fozzy method. I believe the method suites me except from the time the candle shut. I haven't determined how to deal with that problem yet. My time zone is GMT 1

    When I look at the 5 minute chart the price is up and seems to have paused by a resistance about 1.9950. And now? Just wait? My stop loss was set in 1.9729. I counted that cease with help from the ATR. Now I transferred the stoploss around 1.9880 a stage I found in the hourly chart. (Some more reading reqired)

    My goal for this trade is about 2.0460 but I feel very insecure about that. Maybe I should take profit earlier. Don't want to loose my first”actual” trade. (Only demo but it seems more real than once I stumbled around without a system.)

    No I will go on reading Trading in the Zone and a lot longer at the newbie forum.


    Regards

  2. #2
    Check this post.... Https://www.forexsoutheast.asia/fore...berkah_ts.html

    resembles this trade may fire off fast!!!

    Should you trade... LONG roughly 15 pips over the cap of the PB... STOP goes all of the way below the nose.... Do not risk more than 1% of your account... be patient...

  3. #3
    Thanks Tiki for your feedback! It is nice to hear from someone In the exact same trade and It is interesting that we found the exact same thing from different views.
    Today's low is 1.9939 so far and I decided to change my order and transferred the stop to 1.9938. That is one pip below the low of today. I think it is very close to the price right. It'll be interesting to see what will happen when the US market opens.

    I found quite great info regarding large, low, open, shut at http://www.fxstreet.com/rates-charts...aspx?id=GBPUSD. I use MT4 and keep shing between different time scales all the time because I have a tough time to get a fantastic perspective. I promise I will always use the daily charts to the long/short signals but it feels like I must use different time scales to find a perspective of the movements in the price.


    I will attempt to keep thinking more about doing right/wrong or good/bad items instead of loosing/earning money as I learn this.

  4. #4
    Moves were big last Friday... I would not be surprised when there were lots of fozzy signs from friday...

    Gont provide up so soon on GBP/USD??? Come on kiddo... !!!

    Quote Originally Posted by ;
    Guess I am too unpatient and I will better look at a different pair to se when I get a signal.

  5. #5
    The trick is to get a system you like and stick to it... find out out... do not stray away from your system... then the pips will come...

    Is that fozzy I see in your charts??? That is fantastic system... however as beach bum claims for fozzy... you must trade as a robot...!!! Hard to do. . For me ...

    GBP/USD inching up... my goal 2.0040...

    Quote Originally Posted by ;
    Thank you Tiki for the feedback! It is wonderful to hear from someone In precisely the same trade and It is interesting that we found the same thing from various views.
    Today's low is 1.9939 so far and I decided to modify my order and moved the stop to 1.9938. That is 1 pip below today's low. I think it is very near the price at the moment. It will be interesting to see what will happen when the US market opens.

    I found very great info regarding large, low, open, close at http://www.fxstreet.com/rates-charts...aspx?id=GBPUSD. I use MT4 and keep changing between different time scales all of the time since I have a difficult time to have a fantastic perspective. I promise I will always use the daily charts for the long/short signs but it feels like I have to use different time scales to find a view of these movements in the price.


    I will attempt to keep thinking more about performing right/wrong or good/bad items rather than loosing/earning cash as I learn this.

  6. #6
    Quote Originally Posted by ;
    Is that fozzy I see on your charts??? That is fantastic system... however as beach bum says for fozzy... you have to trade like a robot...!!! Difficult to do. . For me ...
    Yes, Tiki. That's fozzy. I didn't know that about it. Do not know yet if I'm a robot. I've only made impuls trades so far. However, you never know...

    Anyhow I shall keep for this system while I'm learning. It was simple for me to learn with only a couple of indiors. More indiors from the chart just gets me confused.

    I'm not in the trade any longer because I got stopped out at 1.9938. A positive commerce and thats good for me.

  7. #7
    Hey Diane,

    Good luck with your trading. It is a very difficult but can be quite rewarding market to be trading in. Emotionless trading is the secret, but it is very tricky to obtain. Also take a look at Van Tharpe, Elder's and Ponsi's books, fantastic books for learning about trading.

    I wish you well in your journey.

    GCTrader

  8. #8
    A much better loion to have had the halt would be all the way under the low of 9750... yes this is a large stop... but lower the size of your own trade possibly to not risk much... this has a good chance to go up... I don't remember if fozzy has reccomendations for ceases etc.. . Of rough when you lower your trade size... you will not acquire as much..., but maybe too, not get stopped out...

    and should you talk to beachbum... you will see that he regularly utilizes price action ideas from J16 to better his trading...

    Quote Originally Posted by ;
    Yes, Tiki. That's fozzy. I didn't know it. Do not know yet if I am a robot. Impuls trades have been made by me so far. But you never know...

    Anyhow I will keep for this system while I am learning. It was simple for me to learn with just a few indiors. More indiors in the chart just gets me perplexed.

    I am not in the trade any more because I got stopped out at 1.9938. A positive trade and thats.

  9. #9
    If you look at the chart here... and you don't be worried about each individual candle... only look where the next support/resistance point is... would that be a fantastic spot for a target?? But stop needs to go beneath the low at 9750... The trade should have space to breath... only my view of coarse...

  10. #10
    Quote Originally Posted by ;
    Hey ,

    Good luck with your trading. It's a very difficult but can be quite rewarding market to be trading in. Emotionless trading is the key, but it is very tricky to obtain. Also have a look at Van Tharpe, Elder's and Ponsi's books, fantastic books for learning about trading.

    I wish you well in your journey.

    GCTrader
    Thank you GCTrader for your information. I will put them.

    Good luck to you also.

    Quote Originally Posted by ;
    A better spot to have had the halt is all the way under the low of 9750... yes this is really a large stop... but lower the size of your commerce possibly not to risk much... this nevertheless has a great opportunity to go up... I do not recall if fozzy has reccomendations for stops etc.. . Of coarse when you lower your trade size... you will not acquire as much..., but maybe also, not get stopped out...

    And if you talk to beachbum... you will observe that he frequently uses price action ideas from J16 to better his trading...
    I'm sure that could have been a better loion to your stop. I got to afraid to loose my profit and place the halt to high.

    Have never read J16 but it sounds intriguing. I will check that out before I start to look for a new commerce.

    Quote Originally Posted by ;
    If you look at the chart here... and you don't worry about each individual candle... only look where the next support/resistance lineup is... would that not be a good spot to get a target?? But stop has to go beneath the low at 9750... The commerce should have space to breath... only my opinion of rough...
    I understand that could have been a better idea. Now I have heard something and I'm very eager to search for a new commerce. Will try to not be to eager. Guess that is a point when it's simple to do an inpulse-trade.

    Thank you both of you for taking time to give me advice

    Sincerely

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