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TOPIC: Chris'es mistakes journal

Chris'es mistakes journal 08 May 2018 19:45 #1

chrisb Hello everyone :) I finally decided to start my journal.

I'm not new here. I joined RTM some time ago but left it for some reasons.
Now I registered again and I really glad that I did that!

Currently I'm struggling with some technical aspects of my trading: orders

Away placed 1-2 pips too high, too low. mistakes like lowering SL too much (and
Trader not taking MPL into account) and many more stupid problems :)

I hope this journal will help me (and hopefully others) with improving trading

Posts: 35 skills.
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Chris
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Chris'es mistakes journal 08 May 2018 20:22 #2

chrisb Just an example of my 3 trades (all trades from previous week - recently I
don't have time for charts :(): 2 missed, one failed.

Reasons for trade are all the same: QM on important level.

According missed trades: it seems that I just have no luck :P, the reason for
Away failed one: just my greed.
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Chris'es mistakes journal 09 May 2018 08:21 #3

Astrokillah dude... your stop loss too tight, and for newbie - it's dangerous. Try to
follow the advice given in the RTMA Lite Video 1. Put your SL beyond the
FL that the QM was reacting to.

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I don't quit
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Chris'es mistakes journal 09 May 2018 10:28 #4

chrisb Thank you AK for stepping by :) In general I do what was advised. But
when I see a really good and fresh FTR I'm lowering my SL. In general it is
a good idea (look at my two missed trades). But sometimes I just do stupid
things like putting SL above kink inside FTR instead of put SL above whole
FTR...

Away

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Chris'es mistakes journal 15 May 2018 19:13 #5

chrisb Failed trade. Again I broke my own rules (I put PO on n-th time back to
supply). I hope I'll learn to follow my own rules someday...

Away

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Chris'es mistakes journal 15 May 2018 20:17 #6

fendt yeah know how you feel.I got caught on that one as well
entry 109.87 sl 110.02
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Chris'es mistakes journal 15 May 2018 21:14 #7

fendt Maybe we should have been looking a bit higher?

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Chris'es mistakes journal 16 May 2018 14:43 #8

chrisb The answer why our setup failed is more simple IMHO. Take a look at my
missed UJ short in #2 post in this thread. This is the same level :) so we
just put our orders on the not fresh level. My rule book says that I can put
PO order only on freshly created levels. This one wasn't.

Away

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 EDIT: this is what I meant:
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Chris'es mistakes journal 17 May 2018 00:44 #9

haanz Hi Chrisb, we are not sure if the QM will become a Diamond, so if you put
the SL above the FL it's reacting to, then it will be safe for you, otherwise it
might form a diamond to take the SL before coming down. IT might think of
the big pool of SL above the QM level.
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Chris'es mistakes journal 17 May 2018 18:22 #10

chrisb Hi, thank you for your comment :) I know that rule - it is a very important
one. In general I'm applying the rule in my trading, but:

1) My H1 QM was a very special one: because it formed as structure I

called: FL FO - an engulf that failed. Very often it happens when FL is
FOed to the true supply/demand which creates that FL (maybe I just use
Away wrong terminology and the FO is a true FL...). Anyway on my Forex Tester I
Trader achieved ~85% of success rate trading such patterns (no matter about
approach etc.). IF wrote in one post on FF that there are some price
structures on which future is already written. I'm trying to spot them.

Posts: 35
Thank you received: 25 2) Another thing is that we must always match our knowledge to our
 trading. Sometimes I just decide to take the risk of diamond, and put my
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SLs above QM level not FL level (for example because placing my SL
above FL will create too big SL for me). The market will teach me if in the
longer term if I'm wrong or not :)

Anyway I'm still have problems trading live account (no problems trading
Forex Tester at all). So I could be wrong in the above. Anyway reminding a
good practices is always a good idea so thank you my friend :)

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Chris'es mistakes journal 17 May 2018 19:45 #11

chrisb I had a plan that I'll post missed trades daily. Unfortunately I have far less
time recently and I failed with this decision :P

Anyway I'll try to do this as often as I can. Today I'm posting a few recent
trade opps (don't care about big amount of pairs opened - I just opened
them for practicing. Normally I'm watching 5-6 pairs).
Away

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Chris'es mistakes journal 17 May 2018 20:06 #12

MarkG Nice charts, Chris. I know how you mean about meaning to post every day
but not quite managing it! :)

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Fully qualified hindsight trader. Scored 100% on the exam :D
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Chris'es mistakes journal 19 May 2018 06:26 #13

traderscape
 Hi Chris,
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I wanted to give you my view, I took that short too. Closed on the FTA

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I really like the way you view the charts, specially when looking for entry.
In this case looking in more detail to the bases on the left may give us hints
about how good/fresh they are. And wait for PA.

I think it is also very important that we look and investigate where the price
will go to, and not assume it will just fire away to super profit.
Then set the right target and expectations for that trade accordingly.

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Chris'es mistakes journal 31 May 2018 19:04 #14

chrisb Recently I had no time for charts. Took that one yesterday and it failed.

It is super frustrating: I'm able to do great results on FT so my method

looks good. I achieve 80%-90% winrate with it. On my live account I
achieve 10% winrate. Completely reversed. Very often I mark a couple of
setups, choose part of them to trade. The part that I choose fails, rest of the
Away setups works perfectly...
Trader
I remember that after registering on RTM a long time ago I talked with
someone (someone outside the RTM). He said that you need a bit of luck

Posts: 35 to be successful trader. I told him that you need skill, luck is irrelevant.
Thank you received: 25 Sometimes I think that I still paid the debts for my arrogance :P

Best for all

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Chris'es mistakes journal 31 May 2018 19:56 #15

dengaima
chrisb wrote: Recently I had no time for charts. Took that one
yesterday and it failed.

It is super frustrating: I'm able to do great results on FT so my

method looks good. I achieve 80%-90% winrate with it. On my live
account I achieve 10% winrate. Completely reversed. Very often I
Offline mark a couple of setups, choose part of them to trade. The part that
Trader I choose fails, rest of the setups works perfectly...

I remember that after registering on RTM a long time ago I talked

Posts: 370
with someone (someone outside the RTM). He said that you need a
Thank you received:
319 bit of luck to be successful trader. I told him that you need skill, luck
is irrelevant. Sometimes I think that I still paid the debts for my
arrogance :P

Best for all

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DAMIT!

I predicted the turn on 17.5.2017, but I took it off since I was selling...

Dengaima

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Chris'es mistakes journal 31 May 2018 21:01 #16

chrisb Why did you want to buy at the mentioned level?

Away

Trader

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Chris'es mistakes journal 02 Jun 2018 09:53 #17

dengaima Your level was also good level for price to turn and you saw that it did
bounce from there. I was lucky because you could have been a winner and
I could have been left on platform where the train shot away :D For me, if i
set Limit orders I set them at the last possible place for price to turn for me.
If it fails I would perhaps look for shorting opportunities. That is the reason i
set buy limit there =) I noticed that even though they made LL in that move
it was still within retrace of bigger impulse move. That's why i was happy
with limit set there
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