Intraday FX Player

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Quote from yoohoo:

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.
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Thanks yoohoo! Very encouraging words !

Will work as much as needed to achieve what you say is possible to achieve, really feel dedicated to making this goal a reality...

And wife I guess is soon to save all stray pets in a country (she's much into it and will gladly use some financial support)... As well as getting some glamorous stuff of course (women, you know)... LOL :D

Will visit dad tomorrow and tell him all your best wishes!

Gonna have some rest today evening and tomorrow to be full of energy for the next week... :D

Cya on Monday!
 
That would be a great gift to keep posting your journal here and Yoohoo's guidance ,I can see is brilliant.I could see it right away.

I'm about to open my first account and begin trading real $$,most likely next week.
I've been studying intensely about 5 hours a day,sometimes 8 hours....this is at 11 pm/midnite thru 4 or 5 am ( I'm in california ) when london opens..... I'm now seeing that the more I learn the more there IS to learn,still.... its such a fascinating process doing this. I think I might be one or two steps behind you CF in my progress....but my raw talent is good, I can "see" and Feel the PA,the waves,and cycles....I believe a person can have a "mind" for this particular skill,analytical skills. That's what I have on my side right now.
I still dont know some basic clues,things I'm learning here when Yoohoo mentions something, like 'horns' ...I just learned what PP's stands for last week,I dont know how to set fibonacci levels,or how to understand the macd indicator. basic things,dont know how to do elliot waves....but Ive been doing well in practice trading just with my natural vision for seeing the PA and trusting the S/R levels,and always looking back and forth in all the time frame charts. I just began learning how to draw trend lines (lol)They are a big help.
I'm developing a trading style (intraday) and setting some "ten commandment" rules for trading that I need to follow....like Dont play in tight sideways chop sessions.....dont trade when I'm tired....always analyze what went wrong in a losing trade...etc.... dont enter a trade if I feel I'm "Guessing"....make sure I analyze all time frame charts, read the basic news ideas and forums ,and study the PA movement and be patient and Wait,wait,wait, until I 'feel tuned in'.... .Every day is a million things I'm learning.
I had made a vow to go and read all of Yoohoo's old posts in ET but havent had time to do that yet. In fact that will be another commandment ....before I make my first real money trade....I must read his posts.

Your journal has been so valuable for me like this...I know it takes some effort on your part ,so I hesitate to ask for more....but if you had the time to describe sometimes ,what your thought processes are about your trades,can give some better insight as to how you are making right decisions, etc... this is what I am doing in my practice trading, making many notes, etc...I see better what my mind is doing in this whole process.maybe just a few analytic thoughts you could spare would be great help as I follow along ....just a thought.
and thank you again for this good work .
forgive my lengthy post

Thomas
 
Tom your enthusiasm makes me smile and it’s great to see it. FWIW much as I believe in meshing ideas together and being original, some of what you are considering is a no-no in my book. I traded Elliott style for a while but I didn’t find it as effective as what I do now and I think it will cause too many conflicts.

Elliott is neither fluid nor definite enough. It gives too many alternatives and too many fibonacci projections. Even where Fib levels converge is no good for me – it’s too slow or too indefinite. Try a trial of Advanced GET and see for yourself.

I’ve found MACD is too slow for this style but you might find your own use for it.

As for my old posts – my two most interesting and detailed threads were deleted without explanation and no one can/will tell me by whom or for what reason. Nevertheless I think you’ll pick up a few ideas.

The only other thing I’d say is start as small as you possibly can. The is the Formula 1 of trading both in trading style and market – and you can get your head handed to you very quickly. But you’ve got the right attitude to succeed and I look forward to watching you improve.
 
yoohoo, as a former position trader, can you offer advice on making the adjustment to smaller timeframes? I've done well with positions lasting weeks and months but with intraday I'm lucky to breakeven.
 
Thanks Y, for your encouraging words.
I can already see what youre saying about Elliot waves... I wasnt feeling the connection to them, or the macd. So far the only useful indicators Ive found helpful is the RSI,and a bit of bollinger band,with a WMA . and otherwise,I'm sensing that the heart of the game puzzle is the Price Action,and the flow of waves,cycles, and Timing , the energy of time..... I wont go mo on more here in CF's journal.... but also I agree about starting slow and cautious with small trades.I'm opening my account with Oanda, and about $4,000.... and just looking to make 30 to 60 pips a day,in about 10 to 15 trades, in maybe a 4 to 5 hour period. looking for 10 pip gains, I havent the experience yet to be 'courageous' enough to stay in through pauses and small reversals...I usualy take profit there, ...but will be learning to see the impact of S/R influences,PP energy, etc... at those critical moments of decision. After 2 months of training , (about40 hrs a week) .... I'm just about solidified in careful trading habits, emotional steadiness,clear mind, etc....the only times I'm losing trades is when I get whipsawed in sideways chops (70%) and the other 30 % is from inexperience.
My wins are about 75%. So I'm on target and will only get better with more experience.
Anyway,as time goes on,I may start a journal or post a thread about some ideas that my mind is beginning to recognize, like cycles,waves,and patterns....you mentioned a fellow who writes about cycles,Millard? is that it...I have a feeling thats going to be an interest of mine in shaping my analytic mind as I go along.I would look forward to any comments you would have to any of my posts in the future.

and Ive found your comments to be right on the same wavelength with my learning mind,so I greatly value your thoughts..... its actually been like an amazing ....coincidence,or serendipity,to be learning with a fresh new mind and seeing your posts to CF at the same time,they are always right spot on with my own mental process as well.the timing couldnt have been better for me.
So thanks again to both of you for this journal.

T
 
yoohoo,

Yeah I found it strange indeed that such threads as "Interesting Charts" were deleted... :confused:

Tom,

Good luck in your learning, I am sure you'll do it as you are dedicated enough in my view, I'll try to give a bit more analysis in my calls...
 
Sure dejatrader: Set up 4 charts - 1hr, 30/15/5 min and look for all the signals we use on this thread. That's what you should be trying to get used to. Also set up a 1 min chart because CF is going to be trading off it a lot but it will be very fast for you.

Concentrate on getting up to speed on the 5 min and if you miss that use the 15 min. Learn how the moves in each timeframe interact with each other and only when you feel you're successful on the 5 min can you jump to the 1 min.

These entries/exits work on any timeframe, even quarterly or annual so I'm guessing that your PA knowledge needs tightened up. Again, set ups used here will sure do that for you and you should find your position trading benefits as well.

Tell me what methodology you are using and what your entry/exit signal/s is like and I can perhaps tell you what to expect during the transition period.
 
Yoohoo, I am so much reading about deleted threads like interesting charts so it started interesting me.
I can not imagine legal reason why such treads were deleted, accidents can always happen but it looks strange to me.
Surviving idea censorhip in modern world?

Can not you one day when you will have more time make a short summary what you discussed in these threads?
 
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