5714 held for the shake and bake and trend up for 100 pips and they got what they wanted. All telegraphed.
CF: This week was your first gunning with a much more aggressive apporach and I said I would mostly stand aside. I kept an eye on what you were doing and I noticed when you said you saw the entry with hindsight. I just popped in now and again when I thought there was something important that I didn't want you to miss, but overall I've been well impressed with how you've done. I also know the considerable mental and emotional strains that occur when changing to a faster timeframe as well as a different set-ups. I tried to prepare you for this and cover all the bases because I knew what would happen. Casual readers of this thread have no idea of what a killer transition can be and to cut a profit in spite of missing lots of goodies is really tip-top performance. I can see you cutting giant profits in the very near future, but how do you feel the week has gone for you and how does it compare to last week when you were more focused on the 5 min set-ups (I think?)
Yoohoo, I definitely know what you are talking about. I had a great two weeks, but since thursday, I really started to experience a lot of stress. Probably as you pointed out, from all the new things I learned. And friday, I totally screwed up, trying to trade from my day-job (I know not clever) with inferior charts (even less clever), having read your posts, seeing on the charts too that we were going lower, going long and not cutting it, for some stupid reason thinking we were somehow coming back, stupidly adding, still not cutting it (my brains must have been fried somehow at that instant) and, as you can guess, puking it all out somewhere around the low. Feel really stupid today, as this could all have been easily avoided, with some discipline and following the charts as I saw them. The only thing that makes me feel a bit better is that I started to make a little money again after I puked them out and could think straight again. Thanks for the effort, I know you are mainly trying to help CF here, but I really learned a lot over the past three weeks. I really appreciate the effort you are making and think a lot of people are able to learn a lot from this. A lot of things I somehow allready knew a bit, but you seem to be able to put the pieces of the puzzle together. I'm still strugling to be able to look at all these different timeframes. Overall still made decent money over the past few weeks, but feel a bit shaken. Please continue to keep up this great effort. This really is one of the best journals I have come across at ET.
Yes, ....it is The best thread bar none. brilliant. and perfect timing for me too,as a newbie, Ive been making it part of my trading preparation to read this journal every day. I dont want to litter the journal with my own comments but to say....Many thanks,CF and Yoohoo, .....watching and learning, T
The week before I felt myself lost in 1min noise (you remember I told you about that). This week which just ended was different in a sense that surprisingly I have found I see the order in 1min as well. It was a real opening for me and a big surprise without doubts (I was amazed how comes just several days ago I didn't see anything there and now see signals as I see them on 5min)... Of course it's now ealy to say I read 1min well, because I still rely on 5min heavily, but what have changed is that even using 5min I feel I "see inside of the bar" and get a more precise feel, using 5min for more like filtering out the noise than any other reason... And of course I feel the lack of the feel of bigger picture so much... I feel the need for it and try to get it, but still often tend to lose that feeling and drop down to just small swings analysis... Well, guess it will come with some time as well. I really appreciate your help so much, because I literally feel it physically how something changes about my trading even though can't always say what exactly it is. Like yesterday (more like today, when analyzing yesterday's charts actually) I caught myself at a thought that I entered trades (best trades I did yesterday) off levels and can't even exactly describe how did I take them, so automatically it was, hands like "wanted" to just sell there without me involved, LOL. Guess it's how things i didn't use just a month ago are becoming my everyday setups and so usual that I don't anymore notice them as something special, but as necessary and basic elements of my trading routine... I really never expected when started this thread that I'll get such a tremendous support and amount of help from someone who knows this business and this particular market so well... And thanks God that I really started it back then (was hesitating for some time before for some reasons)...
Thanks for kind words Tom! I'm really so glad that thread turned out to be useful for many people! Hope we'll continue to keep this journal in the same constructive fashion for a looooong time...
cvds, Sorry to hear you had a tough day... I really know that experience of being out of sync and over time came to conclusion that when you feel like this it's always better to stop trading for that day and get back to normal psychical condition... Lost a lot of money too until made it a rule, now if feel myself even just tired (as in last trade yesterday when I felt I have no more emotional and mental power left to properly manage open trades) I try to immediately square no matter what... I am sure, with enough efforts any mountain can be climbed on, so these are just temporary problems, you'll fix them and cut a hefty piece of FX pie for you...
Thanks CV for a very honest post because it will help others who are on this journey and warn those who decide to transition from slow trading to very fast set-ups. It can really shake you mentally and emotionally. Anyone who has PMâd me has been told to take screenshots and write descriptions of every set up they use because I knew anyone who tries this and fails can be left in such a mess they canât even remember how they used to trade a profit. I trade sub 1-minute timeframes two levels faster than I have given much detail about here, but I can roll it over and over in timeframes so like 2 nights past I let a position run for 7 hours to pick up 100+ pips and then again from the 5714 low up for 100 points. There are several examples in this thread of how I use time to know when a swing will be a big one and micro trade in at the very top or bottom and ride it. I am very much at ease and can trade every minor swing or just ride as I laugh, joke about and play guitar. But make no mistake I went thru some pain moving from a position trader who ran positions for weeks into month and now itâs not unusual for me to enter on a set-up that doesnât even signal on the 1 min. But as I mentioned earlier, the first thing you lose when you concentrate so hard on fast set-ups is the overall direction, so as you did yesterday, you take longs when itâs a no-brainer massive short. You were actually correct in the set-up⦠but you were counter trend trading and without the sharps-hooting skills to know when to reverse quickly rather than exit⦠and without the sense to understand how strong the downward direction was EVEN WITH ME CALLING IT⦠LOL. And you know what⦠Iâve done exactly that too on too many occasions to want to recall. Iâm not just blowing my own trumpet but Iâll state the truth, I donât know anyone sharper than me. Thatâs not meant as a boast, it just shows confidence in 20+ years of hard work. And now and again Iâm glad to pass on a little of what I know and do. Years back I had something sweet going on a 2-monitor set up but I wanted to look at more charts and timeframes so I got 4 X 24â monitors and made my charts bigger and added twice as many timeframes. I so lost my bearings it took me a couple of weeks to be able to trade again. But when I did I traded sharper and faster. Changing the size of charts, the number of charts has an effect on your perception. Changing your speed is hypnotic at the start but then you make the breakthrough and itâs so worth it. Easy-peasy money and total relaxation. So big well done to you. You even made a profit. I DIDNâT! If I can do it so can you. Enjoy. Yes it takes time to fit the timeframe puzzle together but it will come and Iâll continue to lend a guiding hand every now and again.
Hey CF that's fantastic. Really makes me happy. When I trade now I don't think - just perform. They say it's impossible for a cricket batsman to see the ball when he strikes - it's all a built in reaction. That's what you're getting - intuitive trading when others just see noise. After a couple of weeks practice I'll work more on the big swings and clock watching with you. Big well done. Best regards to your dad and tell him we are all wishing him well again. Remember to spoil your wife as trading can be all consuming. Catch ya Monday.