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My trading journey

Discuss My trading journey at the Trading Diary within the Traderji.com; Originally Posted by vagar11 Now, I look at pure price action and also a 21 ...


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  #11  
Old 11th January 2017, 10:00 PM
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Default Re: My trading journey

Quote:
Originally Posted by vagar11 View Post
Now, I look at pure price action and also a 21 EMA/SMA is there on my chart. I go with the trend and things are making more sense to me now than my initial years. I sit with patience now and only takes the trade which gives me a good risk reward ratio as I believe on low risk reward the market won't move in that direction as smart player will not take that trade.
I've actually visited this thread for the first time and it made me happy reading through your progress.
To add to the previous post, I used to chase entries, now I sit patiently, and wait for them to come to my price. This has helped me a lot.


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  #12  
Old 13th January 2017, 04:34 PM
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Default Re: My trading journey

I think whoever gave the candlesticks patterns a name was very clever.

Lets see, if the price is going to come down. It will do this either by forming a tail(shooting star), next bar red (bearish engulfing), next bar red covering half(cloud ) and a lot more..

Then, people say look for these patterns at support and resistance. If we are looking for patterns at S&R, then why should we even look at these candlestick patterns at all. We should just look at support and resistance, trendlines.
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  #13  
Old 13th January 2017, 10:10 PM
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Default Re: My trading journey

Quote:
Originally Posted by vagar11 View Post
I think whoever gave the candlesticks patterns a name was very clever.

Lets see, if the price is going to come down. It will do this either by forming a tail(shooting star), next bar red (bearish engulfing), next bar red covering half(cloud ) and a lot more..

Then, people say look for these patterns at support and resistance. If we are looking for patterns at S&R, then why should we even look at these candlestick patterns at all. We should just look at support and resistance, trendlines.
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IMO consider candlestick patterns and S&R as couples. Eg. Many pubs don allow single men/women, but readily allow couples.

So if long wick seen at imp supp means that setup has more importance.

Moreover S&R is derived from past data. Wicks and candle pattern is derived from the latest data. So both can be a deadly combination.
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  #14  
Old 13th January 2017, 10:38 PM
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Default Re: My trading journey

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Originally Posted by vijkris View Post
IMO consider candlestick patterns and S&R as couples. Eg. Many pubs don allow single men/women, but readily allow couples.

So if long wick seen at imp supp means that setup has more importance.

Moreover S&R is derived from past data. Wicks and candle pattern is derived from the latest data. So both can be a deadly combination.
Bhai and as I keep emphasizing, look at the volume on the candlestick pattern.
Very important.
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Old 13th January 2017, 11:06 PM
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Default Re: My trading journey

I only believe in Hammer and shooting star with volume at S&R. Rest of the patterns are just crap.

Among other places than this, I am not able to judge volumes. May be on pullbacks if the trend is strong, we might get low volumes.
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  #16  
Old 14th January 2017, 01:33 PM
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Default Re: My trading journey

Quote:
Originally Posted by vagar11 View Post
I only believe in Hammer and shooting star with volume at S&R. Rest of the patterns are just crap.

Among other places than this, I am not able to judge volumes. May be on pullbacks if the trend is strong, we might get low volumes.
Good one...if you are looking to trade in a Trend on pull back...look for the volume, on every pull back you can see Low Volume and if you see an increase in Volume on the pull back you can sense the current trend is going to end! Just my few cents!
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  #17  
Old 14th January 2017, 07:24 PM
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Default Re: My trading journey

Quote:
Originally Posted by suri112000 View Post
I am struck at 29 and 30.
At 32 and 33: What would define consistent profit if one is trading one system ...... How long!

Second, once that time threshold is met, what are the best approaches for leveraging greater capital,

Suri , please enlighten with your thought provoking comments as always!!!

If want to ask more questions please do so
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  #18  
Old 15th January 2017, 07:36 PM
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Default Re: My trading journey

Quote:
Originally Posted by amitagg View Post
At 32 and 33: What would define consistent profit if one is trading one system ...... How long!

Second, once that time threshold is met, what are the best approaches for leveraging greater capital,

Suri , please enlighten with your thought provoking comments as always!!!

If want to ask more questions please do so

To be consistent means,

1. The pain of losses is almost vanished.
2. The equity curve is steadily raising.
3. The fear of pulling the trigger is absent.
4. The trading process is rather enjoyable without emotional doldrums.
5. Able to spend money for daily chores from trading profits.
6. The drawdowns are negligible.
7. Should have gone through sideways, up and down trends.
8. Investments should have grown.

I made the picture wide, wasn't I?

If you are consistent, you can freely increase your exposure.

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