Earn up to
$50000
for inviting friends
to get StartUp Bonus
from InstaForex
No investments required!
Start trading without
any investments and risks
WITH NEW STARTUP
BONUS 1000$
GET BONUS
55%
from InstaForex
on every deposit
  • Amazed
  • Amused
  • Angelic
  • Angry
  • Asleep
  • Bashul
  • Bitchy
  • Blah
  • Bored
  • Breezy
  • Brooding
  • Busy
  • Buzzed
  • Chatty
  • Cheeky
  • Cheerful
  • Cold
  • Confused
  • Cool
  • Crappy
  • Cynical
  • Daring
  • Dead
  • Devilish
  • Doh
  • Doubtful
  • Drunk
  • Fine
  • Flirty
  • Goofy
  • Grumpy
  • Happy
  • Hot
  • Hungover
  • Innocent
  • Inspired
  • In_Love
  • Lonely
  • Lurking
  • Mellow
  • Paranoid
  • Pensive
  • Psychedelic
  • Relaxed
  • Sad
  • Scared
  • Shocked
  • Sick
  • Sleepy
  • Sneaky
  • Stresses
  • Tired
  • Twisted
  • Worried
  • Yeehaw
  • Reply to Thread
    Page 252 of 263 FirstFirst ... 247 250 251 252 253 254 257 ... LastLast
    Results 2,511 to 2,520 of 2621

    Thread: Phantomtrader79's trading journal

    1. #1
      Super Moderator
      I am:
      Fine
       
      PhantomTrader79 has a reputation beyond repute PhantomTrader79 has a reputation beyond repute PhantomTrader79 has a reputation beyond repute PhantomTrader79 has a reputation beyond repute PhantomTrader79 has a reputation beyond repute PhantomTrader79 has a reputation beyond repute PhantomTrader79 has a reputation beyond repute PhantomTrader79 has a reputation beyond repute PhantomTrader79 has a reputation beyond repute PhantomTrader79 has a reputation beyond repute PhantomTrader79 has a reputation beyond repute PhantomTrader79's Avatar
      Posts
      17,101
      Thanks
      42,106
      Thanked 35,304 Times in 8,219 Posts

      Default Phantomtrader79's trading journal

      I have decided to close my previous trading journal (Anything Goes 2016: 2nd Voyage) to open a new trading journal thread. This will help start fresh and move forward with my new plan (well actually it's still the same plan but I decided to add some things to the mix).

      First things first...

      The title of the thread is "/ \ Kaizen" and why did I pick that thread title? Well, actually I wanted to put Price & Time: Kaizen but it has a resemblance to my old trading journal thread's titles so I decided to use symbol for time and price which are expressed by

      / which means time, price, up trend. Time and price are the 2 basic element in trading and without them there will be no market. As time goes by the price might rise and thus the symbol "/".

      \ which means the same as the above but this time it shows that as time goes by the price can also go down.

      Kaizen which means constant improvement.

      So as a result, the title is much shorter but has a lot more meaning to it

      Now then, in my previous journal I mentioned a lot of things that I like to use when seeing the market because there is a lot of way to view the market even though the chart is one and the same in the eyes traders. Those things are:

      Candlestick which you can read about it in here:

      http://forum.mt5.com/showthread.php?...ex-Candlestick

      Western chart pattern:

      http://forum.mt5.com/showthread.php?...-Chart-Pattern

      Support & Resistance:

      http://forum.mt5.com/showthread.php?...amp-Resistance

      and also Fibonacci:

      http://forum.mt5.com/showthread.php?...ndex-Fibonacci

      Trend Line:

      http://forum.mt5.com/showthread.php?...dex-Trend-Line

      Elliot Wave:

      http://forum.mt5.com/showthread.php?...x-Elliott-Wave

      Supply and Demand:

      http://forum.mt5.com/showthread.php?...ply-and-Demand

      and several other things. The good thing about those I mentioned above is they don't require complex math calculation and mostly can be seen with naked eyes (with the only exception which is Fibonacci). The chart will tell us a story of the struggle between the bulls and bears and as they continue to struggle the narrative will show one or a couple or more of what I already mentioned at once and based on that narrative the trader will make a decision whether to enter a trade or pass. Obviously, I will not be trading using everything above at once due to time and fund efficiency.

      My goal in this thread is to keep growing the accounts until they reach significant amount and also talk about my views on the market. I always welcome constructive criticism so please make sure that your comment add value to this thread. In my previous journal I mentioned my goal of turning a small account into many fold and it backfired my psychology as it constantly puts pressure on my mind so I'm not gonna do that this time. Other traders love to put a target and it won't bother them at all but not with me so I'm just gonna leave it. I'm just gonna do my best and keep updating the journey as I go along the way.

      With things already out of the way now let's officially start the journal by waiting for the new trading week to start!

      Let's rock ~~~!!!





      Important info:

      Core basics in trading:
      http://forum.mt5.com/showthread.php?...1#post12605821

      Entry methods:
      http://forum.mt5.com/showthread.php?...1#post12625288

      Various patterns:
      http://forum.mt5.com/showthread.php?...1#post12678508
      http://forum.mt5.com/showthread.php?...1#post12681016
      http://forum.mt5.com/showthread.php?...1#post12683396
      http://forum.mt5.com/showthread.php?...1#post12684167




      Account monitoring:
      (in accordance to the forum rules I had to delete the links to 3rd party monitoring website, I will add InstaForex monitoring in the future).
      Last edited by PhantomTrader79; 01-06-2018 at 02:59 PM.


    2. #2511
      FX Vampire
      I am:
      Relaxed
       
      Omoba9ce has much to be proud of Omoba9ce has much to be proud of Omoba9ce has much to be proud of Omoba9ce has much to be proud of Omoba9ce has much to be proud of Omoba9ce has much to be proud of Omoba9ce has much to be proud of Omoba9ce has much to be proud of Omoba9ce has much to be proud of Omoba9ce has much to be proud of Omoba9ce's Avatar
      Posts
      1,934
      Accumulated bonus
      639.79 USD (What is this?)
      Thanks
      735
      Thanked 1,430 Times in 501 Posts

      Default

      Quote Originally Posted by PhantomTrader79 View Post
      Just to heat up the discussion here....

      Answer me this question fellas...

      What would you do if you wait for an entry, and then you missed it (doesn't matter why).

      Hopefully we can get good answer from the lot

      See ya tomorrow!
      Most times I just give up on the trade, especially when it has hit my target levels. But if it has not, then I'll wait for a slight pull back and enter the trade. Happened today, GJ was at 145.23, wanted to short at 144.90, but I went off only to come back to see two big sell candles on H1, I felt it still had to move lower, and opened on the start of the next candle, surprisingly however, it immediately reversed and as it headed up, I closed with a small loss and opened long. At the end, my long position profit was not up to the loss, cause price went a bit haywire and I had to close.


    3. The following 2 users say Thank You to Omoba9ce for this useful post.

      Borneo Scalper (06-01-2018), PhantomTrader79 (06-01-2018)

    4. #2512
      Forum Master
      I am:
      Fine
       
      GhostMode has a brilliant future GhostMode has a brilliant future GhostMode has a brilliant future GhostMode has a brilliant future GhostMode has a brilliant future GhostMode has a brilliant future GhostMode has a brilliant future GhostMode has a brilliant future GhostMode has a brilliant future GhostMode has a brilliant future GhostMode has a brilliant future GhostMode's Avatar
      Posts
      7,404
      Accumulated bonus
      1993.84 USD (What is this?)
      Thanks
      1,171
      Thanked 1,929 Times in 741 Posts

      Default

      Quote Originally Posted by Omoba9ce View Post
      The question of the direction of both EU and GU will hopefully be answered tomorrow after the release if NFP and unemployment rate, if these numbers disappoint, then the Usd sell off should be huge. EU seems to be heading to the 1.1900 level which lines up with the 38.2 fib level.
      Yes the unemployment claims and also the US non-farm payroll are the pieces of 2 high impact News that traders following Major US pairs are looking forward to before they decide which is the next side to follow. NFP is a very important News and this is particularly true as it grants a huge Volatility and its released figures can introduce a new Trend direction for several pairs and in some cases including non USD pairs..


    5. The Following User Says Thank You to GhostMode For This Useful Post:

      Borneo Scalper (06-01-2018)

    6. #2513
      MT5 Rookie
      I am:
      ----
       
      Anthony Cheung will become famous soon enough Anthony Cheung will become famous soon enough Anthony Cheung's Avatar
      Posts
      40
      Accumulated bonus
      22.79 USD (What is this?)
      Thanks
      267
      Thanked 105 Times in 28 Posts

      Default

      Quote Originally Posted by PhantomTrader79 View Post
      Just to heat up the discussion here....

      Answer me this question fellas...

      What would you do if you wait for an entry, and then you missed it (doesn't matter why).

      Hopefully we can get good answer from the lot

      See ya tomorrow!
      Some options for you:

      1. If you miss then wait for another chance because market will give you next chance
      2. Enter immediately after adjusting your risk
      3. change to different style like scalping
      4. use the strategy in lower time frame
      5. use D1 time frame, you will never miss a trading opportunity. people who miss trading chance is because they sleep or do something else and lower time frame like H4, H1 and lower. But if you use D1 impossible to miss.
      6. get angry and beat up yourself so you won't miss next time! (haha)


    7. The following 4 users say Thank You to Anthony Cheung for this useful post.

      Borneo Scalper (06-01-2018), Leonvic90 (06-01-2018), Neriah (06-01-2018), PhantomTrader79 (06-01-2018)

    8. #2514
      Forum Master
      I am:
      ----
       
      sonibark has a reputation beyond repute sonibark has a reputation beyond repute sonibark has a reputation beyond repute sonibark has a reputation beyond repute sonibark has a reputation beyond repute sonibark has a reputation beyond repute sonibark has a reputation beyond repute sonibark has a reputation beyond repute sonibark has a reputation beyond repute sonibark has a reputation beyond repute sonibark has a reputation beyond repute sonibark's Avatar
      Posts
      7,659
      Accumulated bonus
      2280.66 USD (What is this?)
      Thanks
      2,488
      Thanked 7,007 Times in 2,382 Posts

      Default

      Honestly, this is something that is really annoying, after making a good setup then waiting for a good entry for days later missed the entry. I can only do two things in such situation the first is easy, I will somehow probably go fish for another trading opportunity but still keep my eyes on the pair.
      The second thing I would do which is a little bit risky is for example.
      if the setup was supposed to be a trade target of 100 pips and the price has gone 50 pips toward the target, and my target was to use 0.50 lot size before, then I will increase my lot size to 1.00 lot size for the remaining 50 pips target . So in this case I will still be able to get back my maximum profit.
      Too risky right.?


    9. The following 2 users say Thank You to sonibark for this useful post.

      Borneo Scalper (06-01-2018), PhantomTrader79 (06-01-2018)

    10. #2515
      FX Super Hero
      I am:
      ----
       
      Neriah has a reputation beyond repute Neriah has a reputation beyond repute Neriah has a reputation beyond repute Neriah has a reputation beyond repute Neriah has a reputation beyond repute Neriah has a reputation beyond repute Neriah has a reputation beyond repute Neriah has a reputation beyond repute Neriah has a reputation beyond repute Neriah has a reputation beyond repute Neriah has a reputation beyond repute Neriah's Avatar
      Posts
      1,163
      Accumulated bonus
      857.59 USD (What is this?)
      Thanks
      6,813
      Thanked 5,929 Times in 993 Posts

      Default

      Well there is risk factors in this business, the non farm payroll of today might succeed in driving down the price of gu and EU which is something that I am really looking forward to, the dollar index closed the last month on a bullish note which means we are still going to be expecting other pairs that have usd to keep falling this month, what we experienced so far is probably a retracement.


    11. The following 3 users say Thank You to Neriah for this useful post.

      Borneo Scalper (06-01-2018), Leonvic90 (06-01-2018), Oghale (06-01-2018)

    12. #2516
      FX Vampire
      I am:
      Relaxed
       
      Oghale has a reputation beyond repute Oghale has a reputation beyond repute Oghale has a reputation beyond repute Oghale has a reputation beyond repute Oghale has a reputation beyond repute Oghale has a reputation beyond repute Oghale has a reputation beyond repute Oghale has a reputation beyond repute Oghale has a reputation beyond repute Oghale has a reputation beyond repute Oghale has a reputation beyond repute Oghale's Avatar
      Posts
      1,628
      Accumulated bonus
      845.85 USD (What is this?)
      Thanks
      6,468
      Thanked 6,387 Times in 1,155 Posts

      Default

      Hi Omoba9ice, I believe that gj is moving higher because of what gu is presently doing, gu is presently trading at 1.3290 which tells us that the buyers are more than the sellers here, the critical support that was reached at 1.3202 which is just two pip shy of the psychological support might not be touched in a while, we should switch our mindset from bears to bulls now, but NFP is today so expect some surprises.


    13. The following 6 users say Thank You to Oghale for this useful post.

      Borneo Scalper (06-01-2018), Leonvic90 (06-01-2018), Unregistered (4)

    14. #2517
      My charts talk to me!
      I am:
      ----
       
      Borneo Scalper has much to be proud of Borneo Scalper has much to be proud of Borneo Scalper has much to be proud of Borneo Scalper has much to be proud of Borneo Scalper has much to be proud of Borneo Scalper has much to be proud of Borneo Scalper has much to be proud of Borneo Scalper has much to be proud of Borneo Scalper has much to be proud of Borneo Scalper has much to be proud of Borneo Scalper's Avatar
      Posts
      797
      Accumulated bonus
      527.56 USD (What is this?)
      Thanks
      1,742
      Thanked 1,342 Times in 481 Posts

      Default

      Quote Originally Posted by PhantomTrader79 View Post
      Just to heat up the discussion here....

      Answer me this question fellas...

      What would you do if you wait for an entry, and then you missed it (doesn't matter why).

      Hopefully we can get good answer from the lot

      See ya tomorrow!
      for me if i miss an entry i will try to look for a new one straight away. If after looking for awhile and i cannot find any good new entry either on the same currency pair or different, then i will stop trading for awhile and do some other work or relax. Later i will try to look for new entry if possible.


    15. The following 2 users say Thank You to Borneo Scalper for this useful post.

      Leonvic90 (06-01-2018), PhantomTrader79 (06-01-2018)

    16. #2518
      It's time to retire!
      I am:
      Cheerful
       
      NikitaBelle has a reputation beyond repute NikitaBelle has a reputation beyond repute NikitaBelle has a reputation beyond repute NikitaBelle has a reputation beyond repute NikitaBelle has a reputation beyond repute NikitaBelle has a reputation beyond repute NikitaBelle has a reputation beyond repute NikitaBelle has a reputation beyond repute NikitaBelle has a reputation beyond repute NikitaBelle has a reputation beyond repute NikitaBelle has a reputation beyond repute NikitaBelle's Avatar
      Posts
      40,569
      Accumulated bonus
      10905.17 USD (What is this?)
      caught pokemons
      34 (What is this?)
      Thanks
      43,037
      Thanked 27,201 Times in 7,512 Posts

      Default

      What would you do if you wait for an entry, and then you missed it (doesn't matter why).
      That is why a pending order is needed, I usually ignore pending order before but lately I realized that pending order can help me managed my trades specially if my attention is not on my monitor or chart.

      If for example I intend to buy and the price already taken off then I will buy it if it drops a little bit, sometimes it's not good chasing the price it might suddenly turn around and caught you off guard.


    17. The following 4 users say Thank You to NikitaBelle for this useful post.

      Alexander Tatsumaki (06-01-2018), PhantomTrader79 (06-01-2018), Unregistered (2)

    18. #2519
      Super Moderator
      I am:
      Fine
       
      PhantomTrader79 has a reputation beyond repute PhantomTrader79 has a reputation beyond repute PhantomTrader79 has a reputation beyond repute PhantomTrader79 has a reputation beyond repute PhantomTrader79 has a reputation beyond repute PhantomTrader79 has a reputation beyond repute PhantomTrader79 has a reputation beyond repute PhantomTrader79 has a reputation beyond repute PhantomTrader79 has a reputation beyond repute PhantomTrader79 has a reputation beyond repute PhantomTrader79 has a reputation beyond repute PhantomTrader79's Avatar
      Posts
      17,101
      Thanks
      42,106
      Thanked 35,304 Times in 8,219 Posts

      Default

      Thanks to ALL who answered my previous question.
      I really appreciate them and I got some good insights too from reading them. This is what we really need, a good discussion instead of just skipping the important updates and posts by thread owner lolz

      Another interesting question for you before I go offline:

      ESMA is going to hit hard in the forex industry, how will you cope up with it?

      After you answer this question you can go head to this post I made about it, they might provide some insights for you on this matter:

      http://forum.mt5.com/showthread.php?...1#post12765381

      It's really important for you guys to know this because it might impact you forever!


      Ok then, see you all tomorrow and have a great weekend!


    19. The following 5 users say Thank You to PhantomTrader79 for this useful post.

      kammraz (06-03-2018), Leonvic90 (06-01-2018), NikitaBelle (06-01-2018), Timon (06-01-2018), Unregistered (1)

    20. <a href="">‘ÓūŚÍŮ ÔÓūÚŗŽ</a>
    21. #2520
      My charts talk to me!
      I am:
      Happy
       
      Timon has a reputation beyond repute Timon has a reputation beyond repute Timon has a reputation beyond repute Timon has a reputation beyond repute Timon has a reputation beyond repute Timon has a reputation beyond repute Timon has a reputation beyond repute Timon has a reputation beyond repute Timon has a reputation beyond repute Timon has a reputation beyond repute Timon has a reputation beyond repute Timon's Avatar
      Posts
      876
      Accumulated bonus
      652.50 USD (What is this?)
      Thanks
      5,630
      Thanked 4,244 Times in 739 Posts

      Default

      It is tough to wait for an entry opportunity and suddenly miss it, the first impulse is always to enter at the place where you meet price, sometimes you give in to that immediate impulse but it was taken a serious commitment not to go against your trading strategy to keep out, what's important is that you stay calm.


    22. The following 2 users say Thank You to Timon for this useful post.

      Leonvic90 (06-01-2018), PhantomTrader79 (06-03-2018)

    Reply to Thread
    Page 252 of 263 FirstFirst ... 247 250 251 252 253 254 257 ... LastLast

    Posting Permissions

    • You may not post new threads
    • You may not post replies
    • You may not post attachments
    • You may not edit your posts