Price Action Journal V1.5

Great posts veggen, you are well on your way.

I also want to take the time to mention that Jack is exactly right and that may be the easiest to understand post he has ever made. Take the time to soak in what he said. Dont worry about exits. Dont worry about being wrong. Find out how to anticipate when you are going to be on the wrong side and act.

 

Here are the illustrations

 

Thanks. Easy to point out plays in hindsight, very hard in live play!

I belive you when you say that his post is easy to understand, it is just that my english is not very good

So he ment that if you see you have made a wrong call, or that the market just does something unexpected (like that triangle break out - failure) act accordingly - take profits or reverse position?

thanks

veggen

 

Maybe I should point out that I ofcourse meant 50 % retracement from last high. But everybody probably understood that is what I was refering to.

 

to further analyze my trades, I made a trade log that records trades and the type of mistakes one could make... feel free to let me know if its helpful..

JW

 

do you need microsoft excel to open that file?

 

Veggen,

Thanks for your posts... from your first chart. I definitely should have taken the long and the double top short.

The flip of support to resistance is a great play... shows real nice on the 2500vol.

The triangles a little advanced for me, I tend to buy on the fake out... the failed triangle is great but I don't think i can recognize it in real time yet. I'll do my best to improve.

The last chart u posted was awesome. I didn't even see that in hindsight. but I guess the lower highs are enough to get in... don't know if i have time to do the fib analysis in real time.

I use 5 sec chart w. volume for entry. Also recently been working on some confluence indicators but its still not as good as PA.

Thanks again for your help

JW

 

Yes, its in Excel format... do you need a copy?

Also, feel free to join the AHG1 chat room during market hours.... there's a bunch of us in there... directions was posted a week or two ago in here... let me know if can't find it.


update... here's the link
http://www.elitetrader.com/vb/attachment.php?s=&postid=2147489

Thanks

JW

 

Thanks for offering! But I do have the program, just haven't installed it yet. Will do tomorrow, than I will check out your file!

 

I shure will join your chat room, sounds fun! So all of you in there trading AHG style I guess?!