My Journal - Pathways to Improvement

[sun11]

Pa

Hi F,

I made a PA screenshot based what you told me earlier about 1min chart with 2 fast LR & candles.


If my understanding is wrong here. Please correct me.

Every time, Candle gets out of box i.e out of 2 Fast LR, market do correction.
After that, if didn't crossed in opposite direction then follows back the trend.

Regards

 

[Forexmospherian]

Hi F,

I made a PA screenshot based what you told me earlier about 1min chart with 2 fast LR & candles.

View attachment 197256
If my understanding is wrong here. Please correct me.

Every time, Candle gets out of box i.e out of 2 Fast LR, market do correction.
After that, if didn't crossed in opposite direction then follows back the trend.

Regards

I think you have shown a good example there Sun

To confirm - check my latest EU Chart on my thread showing 2 scalps

A scalp sell at 6 23 am and a scalp buy at 7 25 am - UK time

I know I have more LRs on my chart etc - but I think the 7 25 am scalp buy at 1421/22 will show up well on your 3 LRs

Been keen to see if it did

Otherwise your readings are correct and you are understanding the method so far

Regards


F

 

[sun11]

I think you have shown a good example there Sun

To confirm - check my latest EU Chart on my thread showing 2 scalps

A scalp sell at 6 23 am and a scalp buy at 7 25 am - UK time

I know I have more LRs on my chart etc - but I think the 7 25 am scalp buy at 1421/22 will show up well on your 3 LRs

Been keen to see if it did

Otherwise your readings are correct and you are understanding the method so far

Regards


F

Thank you F, Here I shared my EU chart with 3 LR.
Although, if entered near to yellow box zone. Then I would have get stopped our cause it was choppy with 9 pips.



In last hour I was doing trades on UCHF.


Please take a look.

Regards

 

[Forexmospherian]

Thank you F, Here I shared my EU chart with 3 LR.
Although, if entered near to yellow box zone. Then I would have get stopped our cause it was choppy with 9 pips.

View attachment 197280

In last hour I was doing trades on UCHF.

View attachment 197282
Please take a look.

Regards

See - the extra LRs will help you stay with the trade and when you pyramid and peel - but thats a long way away still

After you exit one scalp - and direction keeps going and the LRs and PA and time still say buy - just reenter again

Your scalp set up seems OK for now

We will move to 4 Lrs during the week

 

[sun11]

Day 16

No. of trade: 29
P/L = 1.6
Largest win: 4.6
Largest Loss: 5.6
Win % = 69%

Today actually, some losses were big, because I waited until PA shows proper signal that my trade is wrong.

Sometimes, I close trade in loss instead of profit because of fast movement in price.

 

[Forexmospherian]

Today actually, some losses were big, because I waited until PA shows proper signal that my trade is wrong.

Sometimes, I close trade in loss instead of profit because of fast movement in price.

hi Sun

Dont worry at all - remember you are still at stage 1 of maybe 5 stages over next few months

Its worth adding up the number of total scalps you have taken over the 16 trading days and lets look at average win ratios for every 2 days or so - ie every 50 trades

That will help see how its going

Personally - you are getting your timing to a decent level and adjusting to work on a quick moving 1 min chart. When it starts to appear slow to you in a few months time - thats when you know you are getting more experienced etc etc

I am sure MM needed over 1000 scalps to start really getting his timing spot on -- and now look at him - but he will tell you - he did like every trader have blips on the way - its difficult to remain focused and in the zone over 20+ scalps a day - but it really does get easier - as you will find out

Speak to you tomorrow

👍

Regards


F

 

[sun11]

Good Morning F,

I have collected the data.
I counted for 15 days because, Day 2 proper results is missing.

Avg Win rate is 56% on Total 353 No of Trades.

Last 50 + trades win rate was 67%.

Yet I haven't covered 500+ trades. So more trade needed.

Will pop back later with today's results.

Regards

 

[sun11]

News

A question need to ask to clarify few things about news:

Honestly through out the day there are many red news, orange news & yellow news.

Do you only avoid trading during Red news? Or do you keep eye on orange news too?

As its scalping I guess orange news will also have some effect in small price movement.

Keeping eye on all the news its bit hectic...

Regards

 

[Forexmospherian]

A question need to ask to clarify few things about news:

Honestly through out the day there are many red news, orange news & yellow news.

Do you only avoid trading during Red news? Or do you keep eye on orange news too?

As its scalping I guess orange news will also have some effect in small price movement.

Keeping eye on all the news its bit hectic...

Regards

Normally - I dont trade red news events

I might leave 30% stakes on with stops in profits - if they are 20 + pips away or so and I think the moves will carry on

With scalps - I try to get back in after news either within 3 mins or within 9 mins depending on PA

For 9 00 am UK time news on EU will wait to after release to take more scalps - but can stay in scalps up to 3 -5 mins before release

 

[sun11]

Day 17

Last hour EU was awesome.
Was buying every bar & closing with 1+ pips.



Today That's why taken few extra trades:

Total No of Trade : 32
PL: 6.2
Win rate: 71%
Largest loss: 6.0
Largest Win: 3.6

 

[MajorMagnuM]

A question need to ask to clarify few things about news:

Honestly through out the day there are many red news, orange news & yellow news.

Do you only avoid trading during Red news? Or do you keep eye on orange news too?

As its scalping I guess orange news will also have some effect in small price movement.

Keeping eye on all the news its bit hectic...

Regards

i used to trade news, using larger boudaries as pic shows. i now wait and observe what got tested then trade

 

[Forexmospherian]

Last hour EU was awesome.
Was buying every bar & closing with 1+ pips.

View attachment 197464

Today That's why taken few extra trades:

Well Done again Sun

To take 32 trades and get a 71% win rate with tight stops - takes some doing

Some days I would not be able to do that - but of course with all the other stages I will go through with you - even if I only had a 65% win rate on 32 trades - I would still hope to net well over 50+ pips - maybe because out of the 20+ winning trades - 3 or 5 or even more would make me over 10 or 15 pip wins and all my losses I would hope would average under 3 or 4 pips - ie might have a 6 pip loss - but would also might have one just minus 1 or 2.

I think you are getting the timing correct - You have to judge yourself - but the chart you have shown - was a cracking scalp buy and one that easily went up over 40+ pips

I think this week you will be over 500 scalps and now need to move on to next stage

Speak to you later


Regards


F

 

[sun11]

i used to trade news, using larger boudaries as pic shows. i now wait and observe what got tested then trade

Thank you MM for your input & welcome to the thread.

I like your dynamic S/R levels. I use it too.

Regards

 

[sun11]

Good Morning,

Thank you F for your view.

I will post today results as usual. During volatile environment its pretty hard to hold sl less than 5 pips. Cause as i said earlier, just to wait for PA confirm eats 6 pips so easily. So sometimes I close trade early before PA confirms but later I saw i was right. But anyway...Keeping small Sl is essential. Low risk gives me mental peace.

Good day..

 

[Forexmospherian]

Good Morning,

Thank you F for your view.

I will post today results as usual. During volatile environment its pretty hard to hold sl less than 5 pips. Cause as i said earlier, just to wait for PA confirm eats 6 pips so easily. So sometimes I close trade early before PA confirms but later I saw i was right. But anyway...Keeping small Sl is essential. Low risk gives me mental peace.

Good day..

Morning Sun

I will explain more out we work with tight stops in really volatile periods in stage 3 and 4

Have a good day and stay focused

1470 for now on EU seems a good interim support atm

Its been nice sells down to there - but we need under 67 and 60 to stay selling atm

Regards


F

 

[sun11]

Morning Sun

I will explain more out we work with tight stops in really volatile periods in stage 3 and 4

Have a good day and stay focused

1470 for now on EU seems a good interim support atm

Its been nice sells down to there - but we need under 67 and 60 to stay selling atm

Regards


F

Well miss that chance. But scalp couple of pips on its way.


Out for lunch, will post the results later.

Regards

 

[sun11]

Day 18

No of trade: 29
PL: -0.2 (break even)
Largest win : 5.8
Largest loss: 5.3
Win rate: 65%

Last hour EU was terrible.


See you tomorrow..
GD

 

[Forexmospherian]

Last hour EU was terrible.
View attachment 197668

See you tomorrow..
GD

Yes agree - I went out

Are we up to 500 scalps in total now ??

Will update with next part etc later on today

Enjoy the rest of your day


Regards


F

 

[sun11]

offtopic

Today my binary option standing wasn't that bad. 72% win rate.
Probably my lucky day, nothing else.

 

[sun11]

Yes agree - I went out

Are we up to 500 scalps in total now ??

Will update with next part etc later on today

Enjoy the rest of your day


Regards


F

Hi F,

no its not yet 500. Its around 400+, I think i will cover 500 within this week. I think it will be best, if we start the 2nd part on next week.

Regards