gspajon
Order Flow Class
Posts: 152 
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Post by gspajon on Oct 9, 2015 14:43:36 GMT
Update...just moved my stop to the bottom of the day today, before the market closes...this will lock 213 pips  |
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gspajon
Order Flow Class
Posts: 152
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Post by gspajon on Oct 12, 2015 12:57:02 GMT
The liquidation move continues and the farther it goes without retracing the more nervous I get. I am now moving stops along the intraday time frames to preserve as much as possible. I have locked in 270 pips now with this stop...again utilizing the intraday time frame to find a swing. Looking at the weekly chart we are in an area where I would anticipate some selling to happen. As today is a US and Canadian holiday, I don't expect much out of the US session.  |
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gspajon
Order Flow Class
Posts: 152
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Post by gspajon on Oct 13, 2015 12:16:46 GMT
Update on long: Position stopped out for a 270 pip gain.  |
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gspajon
Order Flow Class
Posts: 152
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Post by gspajon on Oct 13, 2015 14:31:04 GMT
Ok...not really sure what is happening with this...but I have updated this thread now twice and nothing has stuck...so let's try this again. I was stopped out on my long position for a profit of 270 pips and am now observing a pull back into the lower portion of the weekly balance zone formed in July-15. Given the long liquidation move on this market I am seeing that buyers are unwilling at this point to keep things moving higher. However I feel this represents only the very short term and day trader/scalper participant. The longer term trader was most likely stopped out on this move, and may be looking to buy also. I am still a buyer in this market and have placed orders as you see below. We will see if any of these get filled and what happens after that.  |
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gspajon
Order Flow Class
Posts: 152
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Post by gspajon on Oct 14, 2015 18:49:21 GMT
Looks like we can record a "near miss" on my orders...price came to within 5 pips of my position (plus spread) but did not trigger. It happens that way sometimes. I'll give it another day but looks like I will be cancelling these orders.  |
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Post by gowiththeflow on Oct 15, 2015 15:38:21 GMT
I've added a second add on Trade. I have to admit it was a test of my resolve seeing this drop so far, after my second entry, before the Buying Volume entered the market again after the Short Term Buyers had Liquidated (Sold)  |
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gspajon
Order Flow Class
Posts: 152
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Post by gspajon on Oct 15, 2015 15:45:37 GMT
I've added a second add on Trade. I have to admit it was a test of my resolve seeing this drop so far, after my second entry, before the Buying Volume entered the market again after the Short Term Buyers had Liquidated (Sold) Well Done!!...interesting Fib...is the done on each individual trade (ie, recalculated for each trade?) or is it a standard calculation that you use for your trading plan? |
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Post by gowiththeflow on Oct 15, 2015 16:18:28 GMT
I've added a second add on Trade. I have to admit it was a test of my resolve seeing this drop so far, after my second entry, before the Buying Volume entered the market again after the Short Term Buyers had Liquidated (Sold) Well Done!!...interesting Fib...is the done on each individual trade (ie, recalculated for each trade?) or is it a standard calculation that you use for your trading plan? I've adapted the fib and use it every time I enter a New Trade it's to help me see how the Trade is progressing. I struggle with finding the best way to Take Profit I think, in the Long Term, it's best to allow the Market to take me out of a Trade by moving my Stop Loss. But it's finding the correct balance of allowing the Trade breathing space but not giving up too much profit if the Trade turns against you. I guess this is where personality enters into the equation. It depends on what annoys you most having your Stop Hit, because it's too tight, only to see the Market take off without you or having your SL too far away and see a big portion of your gains disappear when it's hit. |
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gspajon
Order Flow Class
Posts: 152
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Post by gspajon on Oct 15, 2015 17:27:42 GMT
Well Done!!...interesting Fib...is the done on each individual trade (ie, recalculated for each trade?) or is it a standard calculation that you use for your trading plan? I've adapted the fib and use it every time I enter a New Trade it's to help me see how the Trade is progressing. I struggle with finding the best way to Take Profit I think, in the Long Term, it's best to allow the Market to take me out of a Trade by moving my Stop Loss. But it's finding the correct balance of allowing the Trade breathing space but not giving up too much profit if the Trade turns against you. I guess this is where personality enters into the equation. It depends on what annoys you most having your Stop Hit, because it's too tight, only to see the Market take off without you or having your SL too far away and see a big portion of your gains disappear when it's hit. This is the dilemma that faces all of us. If you think about it psychologically it is a "no win" scenario. If you are stopped you are frustrated because you didn't close sooner, and left money on the table. If you close manually at where you think the max is...and it continues...you are frustrated because you go out too soon. I was able to resolve it by doing the study (you saw the stats) on my day trading to try and take "acceptable" profit what was it statistically the most probable given the time of day and the market context. (with or against the market flow). That leaves me trading the forex market in a trend following method, which allows me to "calm" my mind about leaving profit on the table, because I know I have divided my effort between two markets and trade futures with a particular goal to limit, and FX by trend following. Bottom line...its all psychological and has nothing to do with the market. |
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zenin
New Member
Posts: 4
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Post by zenin on Oct 21, 2015 0:15:46 GMT
This is the dilemma that faces all of us. If you think about it psychologically it is a "no win" scenario. If you are stopped you are frustrated because you didn't close sooner, and left money on the table. If you close manually at where you think the max is...and it continues...you are frustrated because you go out too soon. I was able to resolve it by doing the study (you saw the stats) on my day trading to try and take "acceptable" profit what was it statistically the most probable given the time of day and the market context. (with or against the market flow). That leaves me trading the forex market in a trend following method, which allows me to "calm" my mind about leaving profit on the table, because I know I have divided my effort between two markets and trade futures with a particular goal to limit, and FX by trend following. Bottom line...its all psychological and has nothing to do with the market. Hello gspajon and GWTF, My name is Jay from Australia.... I've been only actively demo trading for around 3 weeks now, somewhat rudderless up until this last weekend to be honest. Trying to find a dead simply way to trade and build my demo account (knowing full well it mean very little at this stage as it's not my 'money' nor my 'true Psychological mindset') and right now i'm honestly hovering just under 50/50 ...however i feel like i'm starting to get a better feel for the AUD/USD since discovering both of your FF threads and have started reading more about Price action and the concept of Balanced price vs Unbalanced prices on the Currencies. I'm loving the PA and B Vs UB ideas and hope it might be a way for me in the future to look to live trading. This screen capture is from my Daily chart [NOT 30M chart!!! Sorry for confusion] (and i could be using the wrong in the TF - so feel free to tell me) i am using three TFs : Daily, H4 and 30M using the 30M for entries and Exits attempting to capture shorter term movement and looking to make between 1-3 trades per day maximum.  Please feel free to tell me if i'm driving blind or if i am grasping the B v UB pricing concept, if even on a very basic level. Regards Jay (Zenin) {update} I'm not sure that this trade was valid? ...I got knocked out due to my SL, (which i moved up to + $60.00), then re-entered .72665 and manually move my SL, not sure that TP target possible (intraday) so lowered to .72750....i have just one more trade for today before i step away. |
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zenin
New Member
Posts: 4
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Post by zenin on Oct 21, 2015 1:12:20 GMT
This screen capture is from my Daily chart [NOT 30M chart!!! Sorry for confusion] (and i could be using the wrong in the TF - so feel free to tell me) i am using three TFs : Daily, H4 and 30M using the 30M for entries and Exits attempting to capture shorter term movement and looking to make between 1-3 trades per day maximum. Please feel free to tell me if i'm driving blind or if i am grasping the B v UB pricing concept, if even on a very basic level. Regards Jay (Zenin) {update} I'm not sure that this trade was valid? ...I got knocked out due to my SL, (which i moved up to + $60.00), then re-entered .72665 and manually move my SL, not sure that TP target possible (intraday) so lowered to .72750....i have just one more trade for today before i step away. This was my 30M chart which i used to enter a Buy on the next Highest Candle made....but should i have entered after the old previous high made in the Balanced zone were broken or is this not a way to validate a trade .....also the pinbar + Higher High's might not be a valid reason for execution of a trade in PA trading, i'm trying to understand with my limited knowledge. Is the red area on my chart a valid start of Imbalance of Buyers as it's breaking higher away from the lower balance zone or range?  |
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gspajon
Order Flow Class
Posts: 152
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Post by gspajon on Oct 21, 2015 1:14:56 GMT
Hello Jay, welcome to the thread. It seems you have been able to "glean" the correct information from the threads, and looking at your charts here you seem to be seeing things correctly. I congratulate you, as that is difficult for many to do. There is a bit more to it of course, but you seem to be picking it up well. If you would like more detailed information and instruction, may I refer you to the thread here on this site, "An Offer to be your coach".
Many of the members here are current and former students of the course and I'm sure if you asked, you could find many opinions as to how the course works and what they thought of it. I am happy to have new members here and would be delighted to give you more details, but please don't think it obligatory, just an offer for more detailed info.
Thanks for participating.
BTW...I try to make it a habit NOT to "correct" or "criticize" anyone else's trading method's or styles. Each of us has a different point of view and see things just a little differently in the markets...that is indeed what actually MAKES a market. So for me to tell you your entry was correct or incorrect is not right. I can only tell MY point of view.
Often times people have completely opposite positions and points of view...that doesn't make it "right" or "wrong" only time will tell if you have chosen your entry correctly...what is more important is, (1) Do you have a plan? (2) Does you plan dictate an entry? (3) Are you following that plan? And for each of these questions you might want to attempt to answer, why? or why not"
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zenin
New Member
Posts: 4
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Post by zenin on Oct 21, 2015 1:36:30 GMT
Thanks gspajon, I really appreciate your comments on my personal charts and their PA.....Yes i'm far from believing it's an easy process and i realise that everyone trading is a subjective thing as we trade different sums of money in our accounts, different RR and different TFs that have us trade different times and directions in accordance with our own outlook on the market. I hope to add more to the forum in the near future...back to reading and studying, once again thank you for the information and discussion and hopefully one day soon i might take you up on your coaching role. Cheers Jay
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