Price Action Journal V1.5

Quote from nqcruiser:

are there traders who have serious interest to move beyond AHG 1.0 and use a forum here to post serious trades and possibly have a skype room where we can gather to trade NQ using the 1k/10k combination a little seriously
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ME
 
I am a price action trader, but very struggle with the current method.Hope to get advice from other traders.

I use 5 range tick bar for entry pick, and 13 tick for the big picture and pattern recognize.Every two paper profit, I remove my stop to BE+1

Before i traded, I made my plan: the 13 tick down trendline has been effectively broken, so my bias is long not short.Market made a congestion in area 2295--2299, which were important level from previous days. In 13 tick chart, there was a 3 pushes down to this area. I decided to trade current trend reverse strategy. The ultimate target was 2311. The whole idea was that, the rest of day ( 12:00 pm EST to close) would be a big range day, the boundary was 2299--2318, if 2311 and 2315 can be significant taken over.

Made 3 longs in the congestion area, and expected the breakout happened in my way. I made this kind of mistake again and again. Like if I made 3 trades a day, at least 2 of them are trades like these.All my entries are in the high risk area, which was in the upper edge of the range. 3 trades turned out BE+1.

Market broke the trend line and started to go up.However, i didn't find the momentum which should be involved in breakout, and there were tow touches around 2304 and failed to break out. That was no good for long, but i was not brave to short either.
 

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i recommend get a less static approach. watch price, get a few thousand more hours of screen time under your belt, and then revamp your plan from there to be able to trade all conditions.
 
Quote from jmonday:

i recommend get a less static approach. watch price, get a few thousand more hours of screen time under your belt, and then revamp your plan from there to be able to trade all conditions.
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Thanks a lot jmonday, could you specify the less static approach you mentioned?
 
You are doing well mate. However, price action trading is a highly demanding enterprise, and u need a lot of support and practice to make it in this business.

I just took a short on the 6e in the Euro session, and u can clearly see the entry I engineered. The swing indicator i use is proprietary and only available from a source. u can use basic swing indicator to line manually.

let me know by pm if u need to learn more on this style of trading. three r free webinars to get basic info.



Quote from luckylucy:

I am a price action trader, but very struggle with the current method.Hope to get advice from other traders.

I use 5 range tick bar for entry pick, and 13 tick for the big picture and pattern recognize.Every two paper profit, I remove my stop to BE+1

Before i traded, I made my plan: the 13 tick down trendline has been effectively broken, so my bias is long not short.Market made a congestion in area 2295--2299, which were important level from previous days. In 13 tick chart, there was a 3 pushes down to this area. I decided to trade current trend reverse strategy. The ultimate target was 2311. The whole idea was that, the rest of day ( 12:00 pm EST to close) would be a big range day, the boundary was 2299--2318, if 2311 and 2315 can be significant taken over.

Made 3 longs in the congestion area, and expected the breakout happened in my way. I made this kind of mistake again and again. Like if I made 3 trades a day, at least 2 of them are trades like these.All my entries are in the high risk area, which was in the upper edge of the range. 3 trades turned out BE+1.

Market broke the trend line and started to go up.However, i didn't find the momentum which should be involved in breakout, and there were tow touches around 2304 and failed to break out. That was no good for long, but i was not brave to short either.
More...
 

Attachments

Quote from nqcruiser:

You are doing well mate. However, price action trading is a highly demanding enterprise, and u need a lot of support and practice to make it in this business.

I just took a short on the 6e in the Euro session, and u can clearly see the entry I engineered. The swing indicator i use is proprietary and only available from a source. u can use basic swing indicator to line manually.

let me know by pm if u need to learn more on this style of trading. three r free webinars to get basic info.
More...

super! Thank you!
 
Quote from luckylucy:

I am a price action trader, but very struggle with the current method.Hope to get advice from other traders.

I use 5 range tick bar for entry pick, and 13 tick for the big picture and pattern recognize.Every two paper profit, I remove my stop to BE+1

Before i traded, I made my plan: the 13 tick down trendline has been effectively broken, so my bias is long not short.Market made a congestion in area 2295--2299, which were important level from previous days. In 13 tick chart, there was a 3 pushes down to this area. I decided to trade current trend reverse strategy. The ultimate target was 2311. The whole idea was that, the rest of day ( 12:00 pm EST to close) would be a big range day, the boundary was 2299--2318, if 2311 and 2315 can be significant taken over.

Made 3 longs in the congestion area, and expected the breakout happened in my way. I made this kind of mistake again and again. Like if I made 3 trades a day, at least 2 of them are trades like these.All my entries are in the high risk area, which was in the upper edge of the range. 3 trades turned out BE+1.

Market broke the trend line and started to go up.However, i didn't find the momentum which should be involved in breakout, and there were tow touches around 2304 and failed to break out. That was no good for long, but i was not brave to short either.
More...

I like the fact you have a plan, but you cant just trade such a plan on a short time frame. Each day has different activity (trend, chop, breakout)...

My advice is you have to do exactly what you are doing (charting) on a longer timeframe.. then a slightly shorter one.. then the one you are using..

Build a frame work of Longterm S/R... then a shorter one... etc..

(ie. buying a very short term breakout into huge resistance on a larger chart will kill you :)

also. study volatility.. look how big moves happen, bounce around, test S/R, die down, test S/R, and continue or fail big....

revisit the concept of pivot points... chart after chart I see stocks retrace and bounce off of pivots. (plus its a low risk entry)
 
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