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Emma´s T20 Journal

Start a Trading Journal - Start Posting Your T20 Trades Here.
Tips for First Post: Start with personal introduction, share your story, your future plans.
Use Template Prodvided for Recording Trades.
User avatar
immy
Founder
Founder
Posts: 8162
Joined: Mon Nov 22, 2010 4:46 pm
10

Re: Weekbatch 5 wednesday 2021-06-09

Unread post by immy »

eaxh wrote:
Wed Jun 09, 2021 5:50 pm

I don't have a strategy or knowledge problem as i did in the beginning of my journey.

Now i have a problem with trusting the knowledge and my instinct.


Its frustrating  :wits
 
I am so close to do it right.  :o 

 
These are some of best sentences / thoughts I've read. There is a story behind it, there is a struggle and effort behind it. These are the words that shows there is serious hard work behind it. 

BELIEVE IN YOURSELF - YOU CAN DO IT!!! (i can too  :worried
 
 
Opportunity is Nowhere :nerd
"All Successful People are Extremely Hard Working People"
Consistently Successful Trading = Deliberate Practice + Disciplined and Hard Working Approach + Tons of Patience :D

"My Problem isn't lack of knowledge but believing in myself that I can do it" @emmax :nerd

eaxh
Posts: 245
Joined: Tue Jan 17, 2017 9:19 pm
4

Weekbatch 5 Thursday 2021-05-10 The end

Unread post by eaxh »

This is the last trades of the week due to a very hectik friday.

Today i saw the D1 in an uptrend. I marked YD low and high.
H1 looked at LO like it was in a abc correction of the down move. I draw a trendline.
Made the M5 in an uptrend.

I noted that to take a bullish entry it has to break the boxes to the left.
To Take a short entry it has to break the trendline.

It opened and tested the upper level but it got rejecter right away so i was bearish but still had the lower level to break.
It did, made a 2-candle pullback. It was two seeds so actually a totally good entry but i try to not take these small pullbacks as i often just get in to early. This time it was a darn good entry. 

Then it pulled back again, but as it had moved alot and was away from the emas i waited for a confirmation around 10 and 20 ema.
I entered and exited acording to the plan.

It made another pullback with a cherry, but as the low did not break the previous low i did not take it. 
In the long run i will benefit from not taking these. 

The next trade i took based on KC 123 entry on m5. i placed a PO under the seed with sl above the box on m1. 
Held it like an S1 and got out with a loss. Totally valid and good managed trade.

I like it most when there is a standard trend. 
The week ended with not so good scores. but the managing is going in the right direction:)
Thursday 2021-06-10.png
 
Thusday trades 23 och 24.png
 
 
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eaxh
Posts: 245
Joined: Tue Jan 17, 2017 9:19 pm
4

Re: Weekbatch 5 wednesday 2021-06-09

Unread post by eaxh »

immy wrote:
Thu Jun 10, 2021 2:31 pm
eaxh wrote:
Wed Jun 09, 2021 5:50 pm

I don't have a strategy or knowledge problem as i did in the beginning of my journey.

Now i have a problem with trusting the knowledge and my instinct.


Its frustrating  :wits
 
I am so close to do it right.  :o 


 
These are some of best sentences / thoughts I've read. There is a story behind it, there is a struggle and effort behind it. These are the words that shows there is serious hard work behind it. 

BELIEVE IN YOURSELF - YOU CAN DO IT!!! (i can too  :worried
 
 

 
YES!! we can and will do it  :thumbs
 
I'm going to keep making the effort that's required and give me time. If I do, I'll get where I want to go.

 

User avatar
immy
Founder
Founder
Posts: 8162
Joined: Mon Nov 22, 2010 4:46 pm
10

Re: Emma´s T20 Journal

Unread post by immy »

Hi Emma

This weeks lessons and deliberations have lead to something interesting. I was going through my charts and trades and yours and doug's ideas. I was comparing the KC and the LOBOT. 

I thought I'll share my observations with you here. 

The KC
- is good for 1:1 (or 1:2 depending on where you put your SL) Targets
- will give you signals with deeper retracement
- will make you stay out when markets are moving strongly.

compare that to 10/20
- is good for 1:1 tgo 1:20 and more
- will give you signals with shallower retracement as well, such as 2 candle or 3 candle pullback
- will allow you to ONLY trade when market is STRONGLY moving.

I really do think that we should stick to 10/20 on the M1 or M5 charts...

Examples are below

KC vs the LOBOt (10/20 Pullback) 

The KC and the lOBOT are both pullback methods but the LOBOT also has other entries etc. But tha'ts besides the point here. 
Here I want to show the difference between the pullback fit for KC method vs the pullback fit for 10/20 lobot method 
 Chart 1  - This type of pullback is fit for KC 
KC vs Lobot Pullback.png
Chart 2 - This type of pullback is fit for Lobot 10/20 method 

This type of pullback is suitable for the lobot method. I personally like this type because I like to see the market moving faster and quicker with momentum as opposed to a market that does a 50% retrace like the chart above. 

Price is out of the band hence you cannot make an entry on this type of breakout and pullback using the KC method. 
The KC method trigger only when price pokes out of the band and then comes back to the mid line. 

For the KC method when price is out of band you're supposed to be looking for either "mean reversion" i.e. reversals or looking for exits. 
KC vs Lobot Pullback 2.png
 

I hope it makes sense. What do you think? 

ps: 

Chart 3: 
After the above some more thoughts occured to me. Since market is not really moving today, I have plenty of time on my hands. 
What better way to spend my free time than to spend it on charts? analysing it and coming up with ideas Right? 

So, here we have chart 3. I show a chart from the 24th of may this year. This is a DAX30 chart again, from NY open. 

Let's look at it from day trading perspective. Since we trade near the open. Here is a chart during new York open. I just randomly selected it. 

What you see in the chart comparison below favours the 10/20 lobot method. It appears to me that during breakout situations, the KC can't capture the moves. 

 
KC vs Lobot Pullback 3.png
 

 Chart 4 - Killing Two Birds with One Stone

I'm guessing what you're doing something very clever. Confirm please if my guess was correct. 

You're looking for poke outside the band. and once that is done you have two options 

1. If the market is trending strongly in a breakout phase then it will only do shallow pullbacks. In that case the 10ema comes in handy. But you will look for a pullback ONLY when Point 1 is confirmed. That is Has it poked above the outer band? In this case the answer is yes. 

2. Price printed a bearish candle but its an inside candle. So its not a pullback. It's a pause. The next candle is a Doji but it did break below the low of the inside candle so it is now a pullback pattern. 
But you can sense here that price is not wanting to go back inside the channel and start to turn around near the mid-line. 

In this case if you have evidence of price stalling near 10 ema then that can be your first entry. With stop loss on the other side of 20. by putting SL on other side of 20 you will allow yourself room if there is going to be a complex abc pullback. At the same time, you're not missing the potential breakout type pullback. 

Hitting two birds with one stone. 
 
 
KC vs Lobot Pullback 4.png
 
 
 
 
 
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Opportunity is Nowhere :nerd
"All Successful People are Extremely Hard Working People"
Consistently Successful Trading = Deliberate Practice + Disciplined and Hard Working Approach + Tons of Patience :D

"My Problem isn't lack of knowledge but believing in myself that I can do it" @emmax :nerd