01.08.2024 – Trade review for 2 oil long attempts and 1 gold short win –
You can’t win em all! Best losers win — a wise man (@TomHougaard) once said. Stopped out of two oil long attempts this morning for small losers. Gold short later hit my initial targets, now a runner is 
ing…..
Oil –> Initially scouting bear due to scope of the pull back & two zones of supply overhead. However, pit & us market open led to big pull back. I attempted a long scalp. Tried twice, stopped out and moved on. Original thesis was correct. Patience would have paid off here.
Gold –> Was stalking 4h LH more as likely scenario as price was coming into multiple zones POCs. Set a sell stop order if we broke 15m stairstep (and we did). Triggered, eventually tightened TP as my first target was 15m ema12. Targets 1 & 2 hit. Leaving a runner
#CL1 #GC1 #lessismore #trading #daytrader #tradingjourney #oil #gold #volume #volumeprofile #priceaction #trends #multiple_time_frame_analysis #commodities
Two trades today. Shorted both oil and gold. Was done trading by 11am.
Shorted oil coming into Daily and 4h volume area of supply along with previous 4h pivot resistance combined with confluence 4h consolidation was due. Good risk parameters IMO since we had volume prof and MTF criteria backing my trade. All in all, I had a bear lean in the short term. 5m and 15m RSI were both OB when I shorted. Took my main tranche of profit before reading 15m ema12. Left two runners that stopped out.
Gold short. Price was bouncing into Wed-Thur price action POC with a lot of overhead supply. In terms of MTF analysis which is the bedrock of my setup, I felt that despite bounce that gave bulls room for an eventual trend change we were still scouting a 4h LH. Also 4h ema12 has been acting as resistance since Wednesday. I waited for a bounce to the POC control marked up in my chart shorted. Hit my first take profit on my main tranche before 5m ema12. Left two runners that stopped out.
#CL1 #GC1 #lessismore #trading #daytrader #tradingjourney #oil #gold #volume #volumeprofile #priceaction #trends
Today was a red day but as I type this I feel fantastic because the trade I took was within my setup and parameters. Yes, there was room for improvement because i’m still wrestling with the proper way to handle the spikes in volatility oil has pre market with volume that shows up around 8-8:30am… then again at the pit open at 9:00am and then again with the open of US stock markets at 9:30am.
Nonetheless, I’m okay with my stop out and proud of myself for recognizing I wasn’t feeling things and closing out a gold trade before hitting my stop. Exercising self-control paid off here.
After an emotional re-set I was able to approach a 3rd trade with a fresh lens and ended up scoring a win on a bitcoin long. All in all, despite today being a slightly red day I am happy with the way I traded and acted.
Details within the video here. Also now that I type this I realize I’m adding bitcoin to my tradable assets. Since I’m adhering to my less is more philosophy that means i’m going to temporarily suspend trading of the euro. Sticking to my 3 asset limit when approaching day trading. I will continue to look over the euro chart for the #forex channel in The Chart Guys but probably won’t be actively trading for now.
#lessismore #trading #tradingpsychology #psychology #daytrader #tradingjourney #euro #usd #oil #gold #volume #volumeprofile #chartguys #forex #forextrader #commodities #crypto #bitcoin #hodl
Starting 2024 off right. Not just in terms of my P&L but with self-mastery as a trader and human being. I had already hit my day maker by 9:20am before the US market opened. Instead of justifying this means I have some extra cash to play around with since i’m already green or thinking why not try dabbling with smaller size so you don’t risk giving back — I got up from the computer and walked away for about 30 minutes. I came back, accessed what was going on with the market and had a grand old day simply observing price action trends, contemplating swings, reading financial reports and just getting up to speed with markets & news.
The one trade I took was an oil short. I was scouting the daily LH via the topping out of the 4h UT. I was also scouting this in the context that the 4 hour bounce overnight was due for consolidation. Lastly, I saw the 15m UT was losing steam and coming into two areas of volume with sellers overhead that could match with an area for 4h consolidation to begin. I entered short knowing the size of the 4h hour bounce overnight did make space for a 4h HL and eventual trend change to the bulls. Therefore, I entered countertrend thinking — my goal is to scalp a 1:1 win and get risk out of the equation with a chunk of profit (as I aim to take profit with 80% of my position at a 1:1)… Worst case I stop out of the entire trade. Next to worst case and what I viewed as the most likely scenario was I hit my TP and the bulls do show up and set a 4h HL and continue an uptrend. I stop out of my runners with the remaining 20% of my position I left on the table. Best case scenario, which is what ended up occurring is not only do I hit my 1:1 TP on the big tranche of my position but bears show up and I hit my 2nd TP along with leave a runner. This is what ended up happening. Details in the video here
#lessismore #trading #tradingpsychology #psychology #daytrader #tradingjourney #euro #usd #oil #gold #volume #volumeprofile #chartguys #forex #forextrader #commodities
I was tempted to trade starting around 7:30am, but with US CPI data coming out at 8:30am NY I patiently waited and i’m glad I did. For me, trading news like CPI makes trading akin to degenerate gambling. After the dust settled I entered an oil short with my stop above the 15m LH, anticipating we were going to have a 4h TC back to the bears after the HH set overnight did not see follow through AND with daily ema12 acting as resistance overhead.
For gold I traded in both directions. I first went long with a stop under the low of session. Gold bulls confirmed a 2m UT and were above POC Update. After bulls didn’t follow through and not wanting to give back more profit I closed out the trade for a small loss after fees. I then flipped my bias and short. Re-accessing after a short break. I scouted a 15m LH and 4h DT continuation after rejection of 4h ema12. Price was also fighting to get under today’s session POC. First TP is at VAL. Took my TP and currently still have small runners. I will let this trade play out.
#lessismore #trading #tradingpsychology #psychology #daytrader #tradingjourney #euro #usd #oil #gold #volume #volumeprofile #chartguys #forex #forextrader #commodities
Feeling really good about exclusively day trading gold, oil and the Euro. I cut out the noise and focus on these three. I’ve found I usually go into the day having swung pieces of a trade from the previous day and i’m okay with that. I also focus on just either gold or the euro pre market and for the open of the US market. I don’t like the way oil trades with the pit open in Chicago and prefer to wait for trends to develop until later in the morning.
Today I went long gold premarket as we bounced on the daily ema12 and confirmed a 15m trend change to the bulls. I got risk out of the equation and left runners. I still have a runner going as I type this after the close of US markets. As for oil, i’m still managing a nice runner from an oil short I opened yesterday. I closed out more of it throughout the day as we saw lower lows. As we approach daily oversold I am fully expecting a bounce to come and if I stop out of my last remaining piece that is running i’m okay with that. Last, I took a Euro trade at about 10am. I waited for a big enough pull back, a solid base of sideways price action that coincided with a level of support from about a week ago.
#lessismore #trading #tradingpsychology #psychology #daytrader #tradingjourney #eur #usd #oil #gold #volume #volumeprofile #chartguys #forex #forextrader #commodities
My trade journal shows Monday is historically my worst trading day of the week. It also shows me that one of my worst hit rates is taking trades pre-market or even at the beginning of the day when US markets first open. So I sat on my hands today until after US markets were open and clear levels were established. Managed to scalp a nice win with a Euro trade on the bounce that came after US markets opened. Later in the day after the dust from the post Gold reaching all time highs sell off settled down, I managed to scalp another small win from longing gold once a base of support formed as price action formed a sideways base of support and bounced around daily ema12 and started to trade sideways.
#lessismore #trading #tradingpsychology #psychology #daytrader #tradingjourney #eur #usd #oil #gold #volume #volumeprofile #chartguys #forex #forextrader #commodities
Every trade is unique. I stopped out of an oil short last night but that did not discourage me from flipping my bias and trading long at the beginning of US session trading. I am keeping my theme that less is more and exclusively trading the US market open using volume with the EUR-USD. I took two trades in this realm today. Later in the morning I did scalp an oil long using volume profile and am in a risk free trade as of the time i’m typing this. As for my higher time frames trades using the 15m trend to pinpoint entries within the context of the 4h and daily trends i’m being a patient bull and scouting an entry in gold after we have a significant pull back.
#lessismore #trading #tradingpsychology #psychology #daytrader #tradingjourney #eur #usd #oil #gold #volume #volumeprofile #chartguys #forex #forextrader #commodities
I opened a GBP-USD long on Friday. The premise of trade is simple. I am scouting a Daily higher low using confirmation of the 4h trend back to the bulls. Stop is under what would be the 4h pivot. So far, as I type this description and record this video the trade is going my way.
I also experimented in real time today using the volume profile approach of trading the open. I let my bias cloud me with gold and I failed to see it was positioned for a substantial bounce. Stopped out and moved on. My oil trade was much better. I followed my system. Used the value area and point of control to pinpoint an entry if the trade continued in the direction I was scouting. I used a buy stop order to get in to make sure I entered with momentum behind me. Hit both my TP targets and currently have a runner going.
#lessismore #trading #tradingpsychology #psychology #daytrader #tradingjourney #gbp #usd #volume #volumeprofile #chartguys #forex #forextrader #commodities #gold #oil #dxy
In this video I test out a variation of Chartguy Lamont’s volume profile strategy for trading the open with a FOREX pair. In this case the Euro.
#lessismore #trading #tradingpsychology #psychology #daytrader #tradingjourney #euro #usd #volume #volumeprofile #chartguys #forex #forextrader
Less is more. Letting the trades come to me. Using buy/ sell stops instead of market or limit orders. Being patient. Cutting out the noise. This and more on how I executed and managed three trades with the Sp500, Euro and Gold yesterday.
#lessismore #trading #tradingpsychology #psychology #daytrader #tradingjourney #index #sp #commodities #metals #energy #gold #oil #currency #forex #eur #usd #eurusd #technicalanalysis #dxy
KIPU TRADER – Forex, Commodities, Index, Psychology Review 11.01.2023
I further went down my rabbit hole of less is more. I have deleted the Nasdaq and USDJPY (yen) from my potential pairs to trade. I am now trading the SP500 for indices, the EURUSD (Euro) for currencies and gold & oil for commodities. Less is more and its a beautiful thing.
Scouting 4h pivots using smaller trend changes and looking for additional conviction using a few tools that my journaling and back testing show that works is helping keep my system simple. The challenge now is the discipline and self control to follow it. Today was a good day and confidence boosting that i’m on the right track.
I have evolved my trading and mental game to the point where even on days that are red or where I feel overwhelmed I can see them as days to learn and grow up from. Yesterday was one of those days but I started the day feeling great because I knew the trials of yesterday were incredibly valuable lessons which would help me in the long run.
Details of my trades today within the video here.
#lessismore #trading #tradingpsychology #psychology #daytrader #tradingjourney #index #sp #commodities #metals #energy #gold #oil #currency #forex #eur #usd #eurusd #technicalanalysis #dxy
KIPU TRADER – Forex, Commodities, Index, Psychology Review 10.30.2023
Here is perhaps the first example I can with confidence report my read on the price action and charts overall preceded what eventually emerged in the forms of news. This was also a major confidence booster in terms of discipline and self mastery because last night I entered a USDJPY (yen) short without hitting all my criteria to justify entering the trade. Instead of entering hopium mode and HOPING it would end green overnight while I slept I closed it out for a taco win.
This morning I re-entered short after my criteria hit and 15-20 minutes later news broke that reaffirmed what I was seeing in my chart when the Bank of Japan announced they may allow long term yields to rise above 1%. More details of the way my trades in the #yen played out in this video.
#lessismore #trading #tradingpsychology #psychology #daytrader #tradingjourney #currency #forex #yen #usdjpy #usd #technicalanalysis #bankofjapan #boj #dxy
KIPU TRADER – Forex, Commodities, Index, Psychology Review 10.25.2023
In this trade review I go over two examples of adding to winning trades. Long story short, the EURUSD trade in which I added to my long is a clear example of a time when adding to the trade was not a good idea. I tried to front run the trade without a clear level to play off of. The Oil short was a clear example of how I successfully added to an oil short on two occasions. This has now left me with 3 runners and in terms of P/L, trade management and in practicing new skills of adding to winners I am classifying this oil short as my new best trade of 2023.
#lessismore #trading #tradingpsychology #psychology #daytrader #tradingjourney #oil #energy #eur #usd #eurusd #usooil #usdoil #dollars #forex #commodities
KIPU TRADER – Forex, Commodities, Index, Psychology Review 10.23.2023
After a debacle of losing my trading journal that would have made “2022 me” spiral into an emotional wreck and overtrading to multiple week loser. In instead pumped the brakes. Re-grouped and started a new journal with a new platform.
I also further advanced my trading system and style along the mantra of “less is more.” I am now exclusively trading looking for 4h pivots and have transitioned to just 6 asset pairs to trade. I deleted the international indices and am now trading the SP500, Nasdaq 100, Gold, Oil, USD-JPY and EUR-USD.
If something does not have a clear trend which I quantify as being above or below the 2h ema12 and have a slanted ema12 with momentum I am not supposed to even entertain trading it. I plan my entries scouting 4h pivots within the context of daily trends while remaining cognizant of what we’re also looking for on the weekly time frame. This means less trading AND I’m okay with that. I took one actual trade along the lines of this system on Friday and one day today. Already, the results speak for themselves.
#lessismore #trading #tradingpsychology #psychology #daytrader #tradingjourney #oil #energy #eur #usd #eurusd #usooil #usdoil #dollars #forex #commodities
Trades that COULD work vs trades that SHOULD work – KIPU TRADER review 10.11.2023
As my recent video on journaling showed, I am taking fewer trades. That means fewer trade reviews as I don’t exactly have daily updates to give for trades that are taking 2-3 sessions to play out.
Today I reviewed three oil trades I took. Two yesterday that were trades that COULD work, not trades that SHOULD work. Then I reviewed my USDJPY short I opened up on Monday that also represented a trade that SHOULD work. This can be summed up as having two losers and two winners, but with proper risk management and risk to rewards on these trades I am comfortably green.
I also review a UK100 (FTSE 100) trade I have that is currently still open.
#lessismore #trading #tradingpsychology #psychology #daytrader #tradingjourney #oil #energy #ftse #uk #indices #jpy #usd #yen #dollars #forex #commodities
Journaling is KEY
In this video I go over the importance of journaling your trades. Taking journaling seriously and really getting into a good rhythm of journaling everything I do, reviewing my journal, and talking it out in videos has been the single biggest thing to help my trading. I can say without a doubt it has also been one of the reasons I finally am seeing my confidence in my system, execution and myself grow. Lastly, it has shown me with total clarity the biggest hurdle I have to overcome in this journey is not the market, spreads or luck. It is myself!
#lessismore #trading #tradingpsychology #psychology #daytrader #tradingjourney
When trading multiple correlating assets split your risk – Trade Review – 10.05.23
I finally feel as if I have settled into my sweet spot in terms of what assets and pairs I am trading. As for the major indices I am focusing on the S&P500, German Dax, UK FTSE 100 and Japanese Nikkei. For currencies the USD-JPY and EUR-USD pairs… and then for commodities Oil and Gold. That’s a total of 8. Done deal deal done. I don’t need cross pairs or other things right now. With these 8 there is more than ample opportunity for my day trading.
My journaling shows the S&P 500 is the index I trade the best among Nasdaq, the Dow Jones and the Russel 2000. When trading this particular asset. When trading during the US session and choosing to trade the S&P500 or $ES for those speaking futures jargon, I am now going to allow myself to do two things:
1. If I want to hedge my trade, I can trade whichever of the other international indices are currently trading most bearish in relation to the S&P500. I am focusing on the international assets because they get good volatility during the Asia and European sessions which I typically hold throughout.
2/ If I want to take trades in any of these other international indices in the same direction as the S&P500 I will allow myself to do so as long as I split my maximum risk on the trade between them. For example if I am going to risk at most $100 dollars I will let myself take two trades in the same direction of the S&P500 and the FTSE 100. I will split my max risk between the two ($50 per trade). I will leave this an option to give myself the ability to take advantage of different market dynamics and situations where certain indices can act differently between one another.
Then as for currencies. If I take a trade with the USDJPY pair, I can trade the EURUSD in the same direction as a hedge since the two are inversely correlated with one another.
Then for commodities, I will also keep an open mind to potential opportunities with gold and oil which are assets I have been trading now for a long time, I feel well acquainted with them, and they can offer good volatility.
#lessismore #trading #tradingpsychology #psychology #daytrader #nikkei #dax #jpn #ger #gold #xau #commodities #indices #international #FTSE #uk #eur #usd #daytrader
Learning from trades I cut early – Trade Review – Forex, Commodities, Index, Psychology 10 04 2023
My system as it stands right now always calls for at least a 2:1 RR if I enter a trade. That has largely been working in my favor. But I also know all systems and setups are never perfect and should not be static. My most successful trade of the year is currently the gold short I still have open since last Tuesday. I took profit at 1:1 in this case because I realized after entering, we were already over extended on RSI on various time frames.
I ask myself before any trade I enter what am I looking for daily time frame. In this case when I entered a GER40 and JPN225 (German Dax and Japanese Nikkei) shorts, I realized after entering we were already OS or approaching OS on the daily… and I was looking for a LL to be set and daily bounces to get going on both instruments. I practiced discipline and closed out both trades after entering.
Now looking them over. I am leaning towards adjusting my set up by if I enter when RSI is already overextended on HTFs I will adjust my TP to 1:1. Get risk out of the equation and then aim to leave runners running 😊
More details in the video
KIPU TRADER – Forex, Commodities, Index, Psychology Review 09 27 2023
Reviews will now be uploaded every couple of days because I’m practicing discipline and taking less trades that take longer to play out. Here is a synopsis of all the trades I have taken this week so far. My key take away is that I’m gaining confidence in my ability to stick to my system, practice discipline and self-mastery. I have faith that if I stay on the course my P/L will follow. So far, this week reinforces this because I’ve remained in control and my P/L is comfortably green.
#lessismore #trading #tradingpsychology #psychology #daytrader #euraud #usdjpy #eur #aud #usd #jpy #gold #xauusd #forex #commodities #currency #markets #uk100 #ftse #jpn #nikkei
KIPU TRADER – FOREX market check-in – 09.23.2023
Check in on my analysis of the USDJPY, USDCAD, EURUSD, EURAUD forex pairs from the 3 month time frame all the way down to the 15 minute. Some trades I’m looking for going into next week, and just my general overview of my assessment of these major pairs I follow.
#lessismore #trading #tradingpsychology #psychology #daytrader #euro #aud #eurusd #euraud #usd #nq #usdjpy #usdcad #forex #currency
KIPU TRADER – Forex, Commodities, Index, Psychology Review 09 19 2023
Today I finished the day feeling proud of myself. I entered a trade that ultimately ended up going my way and that oozed elements of good technical analysis. HOWEVER, it was not in line with my system and set up which exists to create a clear set of criteria for when I should be entering trades to skew probabilities in my favor. I exercised the self control and closed the trade out. Looking it over now a few hours after the fact the trade is still moving in the direction I planned. Nonetheless, this is a situation where it may be working out for now, but probabilities and my data shows that more often than not when I don’t stick to my system and I enter trades that are not in my set-up, I ended up getting stopped out and losing. In the situations where trades work out that are not counted among my A game and where I don’t exercise good self control, look for a trade that could work instead of should work I simply am reinforcing a bad habit. I am proud of myself for not falling into the mode of hopium today.
More details on the trades that closed out overnight and two new legitimate trades within my system I opened up today with the EURUSD and EURAUD.
#lessismore #trading #tradingpsychology #psychology #daytrader #euro #aud #eurusd #euraud #usd #nq #usdjpy #usdsek #usdcad #forex #currency #indices #cfdtrader
Lesson(s) of the day: It feels better sticking to my system, showing myself I can exercise self-control and self-master than it does winning on a trade where I simply get lucky. I am a momentum based trader and need to not even consider trading assets or pairs that are trading sideways (at least for now).
KIPU TRADER – Forex, Commodities, Index, Psychology Review 09 18 2023
Today was not perfect. I actually feel like I traded rather poorly. I was lacking energy all day probably because of a poor nights sleep. HOWEVER, I am super proud of myself and grateful for the progress I’m making with self-control because with proper risk management I did not suffer big losses. I finished trading today and am carrying no emotional baggage ending the day, and I still have two trades open that are in profit. If they hit their target, I will be comfortably green for the session, if they do not and I stop out the absolute worst-case scenario is I end the day with exactly how much I started the trading day knowing I could potentially lose… which is not a lot and represents a very small portion of my account.
This is a good place to be when playing this trading thinger-mer-bob. =)
#lessismore #trading #tradingpsychology #psychology #daytrader #nasdaq #ndx #nq #usdjpy #usdsek #usdcad #usdeur #forex #currency #indices #cfdtrader
My theme of less is more continues. I’ve narrowed down the FOREX pairs I’ll be trading based on spreads. I’ve come down to GBPUSD, EURUSD, USDJPY, USDCAD, USDSEK, EURAUD. In this video find my overall check in on these pairs and the dollar (DXY). I go over the trends from the monthly time frame all the way down to the hourly and share what I’ll be scouting for in terms of trades this upcoming week.
#lessismore #trading #tradingpsychology #psychology #daytrader #GBPUSD #EURUSD #USDJPY #USDCAD #USDSEK #EURAUD #USD #DXY #FOREX #currency
Today reinforces and adds further evidence that my system is working. I started the day off with a loser but having just one winner after that has made me green for the day. Even better is the fact I had a second winner which makes today a very nice day. Probabilities are feeling skewed in my favor and I’m showing myself consistency which feels good. I started the day off shorting the EURJPY currency pair. I then shorted the French Index FRA40 and finished the day shorting the UK Index UK100. Details on the three trades within and also how my runner from yesterdays SP500 long played out. Less is more continues to my theme. I am scaling back the number of pairs/ tickers I watch, indicators I use and signals I wait for. So far, it’s working well.
#lessismore #trading #tradingpsychology #psychology #daytrader #SP500 #SP #UK100 #FR40 #France #CAC #EUR #JPY #forex #indices #commodities #markets
Good day. My theme of #LessIsMore continues. I have deleted about 2/3 of the pairs I watch. I have deleted about 1/2 of the tabs I keep open and am simplifying things. I only took two trades today. A USDCAD short hit its 1st, 2nd and 3rd profit targets. The second trade, an SP500 long hit its first and second targets and is in comfortable profit. Stops are being moved based on 4h HLs. I will hold into the next session. Details of trades and how I simplified my overall operation in the video.
#lessismore #trading #tradingpsychology #psychology #daytrader #SP500 #SP #USD #CAD #USDCAD #forex #indices #comodities #markets
Trade review for the day. I cover trades I opened yesterday and closed out today which hit my TP targets. A USDCAD short and an OIL long. A few trades that I fell short in following my system and I am ranking in my C game – CADJPY, USDCHF and GBPUSD. Then a couple other trades I was on my A game and which I still have open – JPN225, NZDUSD and EURGBP. I hit my max 5 trades a day and overall, I am feeling good about the self-control and risk management I am exercising. I’m keeping my winners bigger than my losers and learning to accept my losers AND MOVE ON. Not only move on but not carry the emotional baggage of the loser with me into my next trade. No more trying to force trades just to get green for the day or YOLO’ing into something in revenge. I have not had a day like that in a really long time and it’s important to remind myself that in itself is GREAT PROGRESS. Onwards and upwards. Have a good night, everyone.
#lessismore #trading #tradingpsychology #psychology #daytrader #oil #brentcrude #energy #mxn #cad #usd #nzd #jpn #nikkei #gbp #eur #chf #dollar #forex #commodities
New review video from trades I opened this session. Overall, a great day. I am exercising good self-control and am feeling good with the implementation of Tom Hougaard suggestion from the book Best Losers Win. I am entering every trade already thinking I have lost on the trade and psychologically conditioning myself to be okay with what I am risking by FEELING what it would be like to lose what I am putting up in the trade. This is helping me tremendously.
I took five trades. I have two trades in comfortable profit and am letting the winners run. I stopped out of three trades. My winners were proportionately much larger than my losers, and am therefore comfortably green for the day. All in all, I am ending the day feeling a bit of a legitimate confidence boost in self-mastery in myself and of implementing my trading system.
Details on the specific trades I took in the video trade review here.
#lessismore #trading #tradingpsychology #psychology #daytrader #oil #brentcrude #energy #btc #crypto #mxn #cad #usd #dollar #forex #commodities
Trade review from trades I opened at the end of a Friday trading session and held throughout the weekend. Two wins, one loss.
Overall feeling good about my first week back in the saddle after closing up summer travel mode. I am feeling more and more comfortable with my three main techniques for entering trades – using trend changes on smaller time frames, top/ bottom fishing the extremities of ranges or waiting for a tightening range to break. I am also training myself to think in probabilities and not hope. Although my best trade from last week was a short on the Japanese stock exchange futures JPN225, I did cut a portion of it early because probabilities did not indicate the scenario that played out. Probabilities had shifted to make continuation by the bears and me hitting my target on my short the less likely scenario. Instead of holding and hoping for it to work out I got my risk out of the equation and took profit at a 1:1. Set my stop to break even and let it play out. My aggressive take profit target of the small runner I left ultimately hit at around a 7.5 : 1 RR. This is a trade I’ll have to review in greater detail in the days to come. All in all, feeling good about being in full trader mode.
Catch ya’ll on the interwebs.
#lessismore #trading #tradingpsychology #psychology #daytrader #JPN #nikkei #eur #jpy #aud #nzd #usd
Run down of my first glance at FOREX markets in about a week. Took a much needed disconnect from charts and news. Here are my raw musings of what FOREX markets are doing based on technical analysis. I have no idea what political mumbo jumbo is going on with the FED, Government or what not are doing. What the charts tell me is the US dollar is still strong and the bulls are in charge. So, until the dollar bears prove otherwise, the bulls are still in the driver’s seat. This is bearish for precious metals, bitcoin (crypto), and most international currencies (when valued against the US dollar).
#DXY #USD #USDJPY #USDCAD #USDCNH #USDMXN #EURUSD #GBPUSD #AUDUSD #NZDUSD #EURGBP #EURCHF #GBPCAD #EURJPY #FOREX #FOREXtrader #Trader #DayTrader #Currency #Markets #tradingpsychology #psychology #daytrader
Quick trade review just to work my TA and trade review muscles. Took 3 trades today. One bitcoin trade which upon reviewing my trade I realized was not an A trade. But, in that moment I recognized that because I tightened my stop and take profit and was able to scalp a nice win. I also had good success playing the range that the EURAUD is trading in. I waited patiently for 2 days to be at the computer when a price target for my entry occurred. I took it today and scalped another 2:1 RR win. My third trade was a USDCAD short. After entering I realized I confused the chart on a second monitor with a USDCHF chart I had open. This a major red flag so I immediately closed out the trade and called it a day.
#lessismore #trading #tradingpsychology #psychology #daytrader #forex #commodities #btc #crypto #bitcoin #USDCAD #EURAUD #USDCHF
Salutations to all out there on the interwebs! I’ve been milking the last bits of summer and will continue to do so until after Labor Day weekend, but I wanted to do check in with FOREX markets so here ya go! I covered the following pairs in this video.
#USDJPY #USDCAD #USDCNH #USDMXN #EURUSD #GBPUSD #AUDUSD #NZDUSD #EURGBP #EURCHF #GBPCAD #EURJPY #FOREX #FOREXtrader #Trader #DayTrader #Currency #Markets #tradingpsychology #psychology #daytrader
Good day overall. Traded two prop firms accounts into safe territory. I placed a few trades that I outline in this video. I am feeling more comfortable with my system than ever before. I plan to put in my reps and paper trade to keep my TA and chart muscles in shape while I wait out the summer doldrums. I want to be ready for some good volatility come fall when the world gets back from vacation.
#lessismore #trading #tradingpsychology #psychology #daytrader #forex #commodities
Good day trading and good day for self-mastery and self-control with my trading and with myself. I took two trades. The first was a slight tweak to my trade. I have realized that my system of trading with strong trends and exercising the discipline to only take trades that are in my direction when price is above or below both the 1h and 4h ema12s is not conducive at al when we’re ranging. I have implemented bottom and top fishing to my playbook. I did not use one of my tools (stairstep, STF trend change, or wedge, to get in with the USDCHF trade I took but in the future when taking these I plan to implement one of my entry tools when taking these bottom / top fishes of ranges. I explain more in the video.
My second trade was a USDCNH long. We were in 1h, 4h and 1D UTs. I waited for price to retrace to the 1h ema12 which was acting as synthetic support along with good bull volume on the HTFs. I then used my tools of combining a 5m falling wedge breaking bull along with a 10m stairstep to get in. I hit my 2:1 and have two small runners still going as I type this out.
#lessismore #trading #tradingpsychology #psychology #daytrader #forex #commodities #usd #chf #cnh #rmb
Process over outcome. That is the name of the game in trading. In terms of my P/L today was a very subdued day. I started 4 new trades. Closed two out early for a small loss and small profit… and two are still running. A part of me wants to think I didn’t do much. But I was at the computer most of the day scouting, learning, and growing… I have two open trades that are still going that fall in line with my system and set up. If I’m trading the 4h and 1h time frames, I can’t expect all my trades to play out within the session.
Details on the trades within. Less is more. That is the name of the game. I think back on days where I would take 20 trades a day trading the 2m and 5m time frames. I would finish the day mentally exhausted and with less to show for it than when I take 2-3 trades a day.
I repeat. LESS IS MORE
#lessismore #trading #tradingpsychology #psychology #daytrader #forex #commodities #crypto #bitcoin #usd #eur #chf #jpy #mxn #mexico #usa #europe #switzerland #japan
Good day. Feeling back into a good flow. Less is more. Only took 2 trades today. One was a banger that more than made up for my 3 sloppy mistakes from yesterday. Shows that when I stick to my system and execute in a calm a collected way my wins will more than make up for my losses.
I was scouting a 1h or 4h HL on bitcoin after the initial massive bounce we saw this morning NY time. When it came I felt like the trade might have gotten away without me. I patiently waited for a bull back. My initial goal was to get a pull back to 1h ema12 but we never got there. Instead, I noticed a 2m and 5m stairstep break to the bull side transition into a 2m and then 5m TC with confirmation to the bulls. I entered long and set my stop under what would theoretically be the 1h HL pivot if the bulls continued up. They did indeed end up continuing up. I hit my take profit and then left a runner which is still going in profit as I type this out and record this video.
The other trade I am in right now is slightly red but the thesis and set up were sound. I was scouting a 1h and 4h LH with the GBUUSD pair. I thought it might never come after the harsh drop we saw in the morning. Towards the end of the trading day the bounce was approaching my buy zone near the 1h and 4h ema12s. I entered short when we had a 5m DT confirmation. As is always the case in trading – you never know what is going to happen and less probable scenarios can play out. The 2m and 5m TC to the bears quickly reveres back to the bulls and now the bulls have made enough space for a 1h TC. Nonetheless, the 5m trend as I type this out does look like the bulls are tiring so I’m going to keep my stop in place and aim to de-risk because regardless of the bounce a 1h LH is still likely and for some consolidation before the bulls take things to a higher high.
#trading #tradingpsychology #psychology #daytrader #forex #commodities #crypto #bitcoin #international_markets #ger #usd #gbp #markets #discipline #eu #gb #us #stocks #currency #bitcoin #btc
Yoyo. Good morning, evening, etc wherever in the world you are. Good day here for me in terms of recognizing the state I was in and not over trading or trying to force things. After an awesome but physically exhausting Sunday I was feeling a bit lethargic and tired today. Also throw in the fact I had people coming over to my house around 11:30am NY time when markets were open, meaning my routine was going to be disrupted. I recognized this and upon seeing my first trade of the day – a USDCHF long – quickly get invalidated I closed it out for a small loss until it continued declining and hit what would have been my stop. So right here I consider this a win there in terms of risk management. My second trade of the day a EURGBP I mis-sized upon entering. When I make a careless mistake like that, I know my head is not in the game. I closed it out almost immediately and decided to shut down my broker for a couple of hours. I want to be trading when I’m in the right state of mind and when I make a mistake like this and allow a trade to play out I am reinforcing bad habits even if they end up going my way. It means I am not trading rationally… instead I would have been trading on hope smoking some hard hopium. That is not how I trade anymore. Period.
At the end of the day I was scouting 2 trades. An oil long which I did not a fill on. And second, a GER30 (DAX) long. I did up getting filled and longing GER30 (DAX index). It’s not an A trade for me because I prefer to enter trades when I am using the STFs to pinpoint my entries for the scouting of an 1h or 4h pivot. Or at utter least when riding a STF ema12 in the midst of likely continuation of the 1h or 4h trend. In this case the GER30 on the 4h had already broken to a HH and probabilities are that a HH pivot for some consolidation is coming sooner rather than later. On 1h TF we just saw the 8 stairstep up pattern break with no follow through bulls theoretically have kept control. As of the time of typing this the trading of the GER30 is closed and in its weird in between hours when it doesn’t trade or move. When markets re-open I’ll be looking to de-risk and possibly leave a small runner going if the trade is still going in my direction.
#trading #tradingpsychology #psychology #daytrader #forex #commodities #international_markets #mxn #usd #jpn #gbp #eur #chf #markets #discipline #europr #switzerland #eu #gb #us #stocks #currency #germany #ger #dax
I’m counting today as a win despite having 4 red/ breakeven even trades all before the US stock market even opened. I correctly identified early in the day most FOREX pairs, indices and even commodities weren’t giving me much clarity. Nonetheless, I entered one trade based on most of the criteria of my trade set up and before I knew I had entered another three – totaling four. The problem was, despite having met the basics of my criteria for entering a trade I did not zoom into the smaller time frames and use one of my tools for getting INTO the trade – those tools being a stairstep break, wedge, a bottom/ top fish, a scout of a HL or LH on a smaller time frame, etc. Instead, I just aimed for a zone where I thought price might form a pivot based on an ema12 touch. Using the ema12 as a guide has been pivotal in helping my set up, but most of my successful trades occur when I combine it with one of the entry tools listed above for getting into the trade. I have prepared a google doc with good notes on my best trades where I followed my entire system and used a good tool for getting into the trade. I will be reviewing this document with good trades before I start my trading day from this point forward. Onwards and upwards! I hope everyone out there in the interwebs has a great and blessed weekend!
#trading #tradingpsychology #psychology #daytrader #forex #commodities #mxn #usd #jpn #gbp #cad #eur #aud #markets #discipline #canada #australia #gb #us #stocks #currency #nikkei
Great day for building confidence. Yesterday was one of my best days in terms of sticking to my system, process and maintaining emotional/ psychological control. Usually after days like that my track record shows I lose it the following day and end up giving some back. Today wasn’t the case. I took four trades today. One dow trade I closed out early because I saw the trade get invalidated. I rather stop out sooner and not enter hopium mode. I ended up re-entering about 30 minutes later when the set up presented itself. The second attempt hit my 2:1 RR target and I left a small runner. Ended up stopping out of that runner but that is OKAY.
Had a great yen trade that I hit my 2:1 RR shorting the 1h LH. A small runner is still going.
EURGBP was my 4th trade of the day. I entered scouting the 4h HL and a bounce off ema12. I entered with these criteria in mind along with a confirmed 5m TC to the bulls. However, I realized after entering we were under the 1h ema12 and that an hourly LH was the most likely scenario. Seeing this I exercised discipline and closed out 85% of the position and let a small runner run. That small runner is slightly red as I type this but even if we retrace all the way to my stop I will be break even or slightly green. I’m counting this as a win because I was able to exercise the self-control to close most of it out and not let myself trade on hope.
#trading #tradingpsychology #psychology #daytrader #forex #commodities #mxn #usd #nas #dow #gbp #cad #eur #markets #discipline #canada #gb #us #stocks #currency #nasdaq #dowjones
Process over the outcome is KEY. Today was one of the days I felt I was disciplined while also just in a good flow with following my process and low and behold it was my most profitable day. Granted today was a very trending day in markets but I regardless was on point with my process. If today had not been a trending day I think the only difference would be I would not still have 5 small runners going with trades. I would have probably stopped out of the small positions I left open after hitting my take profit targets. Regardless feeling good.
Started the day off shorting the Nasdaq and FTSE 100. Hit my take profits on both. I then waited the entire day while observing price action and patiently waited for new entries. I saw my opportunity later in the day to short the EURUSD and GBPUSD pairs after both had bounces to the 1h ema12s. Both were still in HTF downtrends and as soon as I got the criteria where I could employ my entry techniques to enter short, I did. With the GBPUSD I used a break of the 15m stairstep. With the EURUSD I waited for a confirmed 5m DT to mark the hourly LH.
Last, I am still riding a USDMXN (Mexican Peso) long from yesterday with a small runner.
#trading #tradingpsychology #psychology #daytrader #forex #commodities #mxn #usd #nas #gbp #eur #uk #ftse #markets #discipline #us #stocks #currency #nasdaq
Break even for the day so far. I’ve identified how to further refine my system and sum it up in a nutshell. My goal is to ONLY trade my set up so that I can get a real solid pool of data on whether its profitable or not in order to build my confidence.
I am scouting trades based off 1h or 4h trends in conjunction with having space for my bull or bear trade to continue running with the daily trend in mind. I scout entries using 1h or 4h pivots (HL/ LHs) as my stops or if a trade has really run away already without me, I can scout an entry for a small quick scalp based of an ema12 tap on a smaller time frame. In today’s trades
My Nasdaq trade was a mistake. I did not have my basic criteria lined up. I practiced self-control and closed it out early for a small win. I’m glad I did because it shortly after reversed and would have stopped me out.
My GBCCAD trade was a discombobulated mess. My criteria did not hit because on the daily time frame we had double inside bars. This was a great lesson in knowing this is a pair I should not have been watching or considering trading because double inside bars means no clear direction has been determined and most likely this would result is chop on the smaller time frames. This is what happened, and I got stopped out trading in both directions for three small losses.
My best trade of the day was the USDMXN. At the time of entering the 1h and 4h trends trading bullish. We are looking for a daily LH eventually but, in this case, I used some discretion. First off, we still had room to run on the daily for me to hit my 2:1 RR. Second. We were very overextended being OS on the W and M. This made it more probable based off my assessment that the daily bounce was likely getting underway. So far, this thesis is playing out as the trade is comfortably in green and my stop with my runner is currently under the 4h HL.
#trading #tradingpsychology #psychology #daytrader #forex #commodities #mxn #usd #nas #gbp #cad #markets #discipline #forex #canada #gb #us #stocks #currency #nasdaq
Back at it. I took a total of 4 trades today. One winner and one loser so far. Two are still open.
I was scouting 1h and 4h HLs with the dow jones (YM). Stopped out on my first attempt and hit my take profit target on my second attempt. Because my RR is 2:1 I am green for the session. I also have trades open with the FRA40 index and NZDUSD. In both cases I’m scouting the 4h HL and continuation by the bulls. More details within my trade review video.
I’m now back in my home office for the next 2.5-3 weeks and am committing to getting back into the flow of doing these video trade journals. They help me decompress the trading day and organize my thoughts and I also hope they help someone out there.
I admire the chartguys and gals who can travel and still juggle their responsibilities with the community, do their TA goodness and even trade! I aspire to get there one day and am committing to being more disciplined with my routine to lay the foundation to get there one day.
#trading #tradingpsychology #psychology #daytrader #forex #commodities #nzd #usd #dow #france #cac #fra #markets #discipline #forex
I’ve been disconnected from markets for over a week. Was feeling very discombobulated but doing a video like this helped get my focus back. Before going away, I had great success swing trading FOREX pairs over multiple days so I’m going to stick to that in the week ahead. In this video I go over the major USD forex pairs and a few cross pairs. In quick summary I’m going to wait and see if greater financial markets see legitimate consolidation at the start of the week.
As the USDJPY pair is in my experience one of the most closely correlated assets to the DXY I will be scouting longs with this pair if the dollar sees a continued bounce come Monday/ Tuesday.
For the GBP and EUR – USD pairs I will be scouting initially to the short side if I want to be aggressive. A more conservative approach would be to wait for the recently initiated downtrends to finish and scout daily HLs or 12h HLs once the 4h or 1h respective trends revert to the bulls.
Similar vibe with the AUD and NZD USD pairs as the GBP and EUR. Scouting daily and 12h HL’s.
USDCAD is a bit of an outlier. With this pair the scope of the 4h bounce on Friday makes me zoom in and look for a 4h HLs to long. I am trying not to focus on fundamentals too much, but the CAD currency is frequently cited as being correlated with the price movements in oil markets since Canada is a major oil producer. The strength of oil might have had something to do with this move.
USDCHF had a harsh drop in the past few days. I will be scouting daily and 12h LH’s via the 4h and 1h trends. Pretty much the opposite approach I’m taking with the GBP, EUR, AUD, and NZD USD pairs.
Lastly the GBPJPY is an interesting one. Shorter term I would be scouting 4h HLs to long while being cognizant that a daily LH is the most likely scenario. Once the bears are finished on the daily time frame it would be indicative of the setting of a weekly HLs. So big picture I would be paying attention to the weekly time frame for when the weekly HL is set and using that as my guide for patient entries to the long side.
USD #JPY #EUR #GBP #CHF #AUD #NZD #CAD #FOREX #FOREXTRADING #CURRENCY
$USD $JPY $EUR $GBP $CHF $AUD $NZD $CAD
Traded FOREX today. Mixed results overall but kept to my system, set my trades, and let them play out without obsessively watching them. I have a few trades open still I’m holding overnight. All in all, a good day. My focus is remaining calm, not overwhelming myself by trying to watch too many things at the same time. Showing myself, I can wait for my alerts to go off and let the trades come to me INSTEAD of marketing in or forcing trades. I am trading off scouting pivots on the 4h and D TFs… possibly the 1h if things really line up and fall in line with what I’m scouting on the daily. I had great success with this last Friday and today I might not have the P/L to validate “good results,” but I do feel good despite ending the day slightly in the red and with open trades still running because I took trades that SHOULD work, not that could work.
Probabilities, as much you skew them in your favor sometimes just won’t unfold the way you want. Today feels like one of those days this happened. It feels much better to end red because of trades not playing out the way of my thesis, versus ending red because I FOMO’d in or emotionally let myself overtrade and thereafter end in the red. So to conclude, so far today is a red day because you can’t always have things unfold the way you want in trading, which is much better than it being a red day because I went on tilt or tried to force things. As a wise man who has been mentoring stated – “I will always look to trade another day!”
#FOREX, #USD, #JPY, #CHF, #EUR, #AUD, #NZD, ,#GBP, #DayTrader, #Emotions, #Psychology, #Trading, #Trader, #FOREXTrader
Good day. Stayed in emotional and psychological control as I traded. My focus today was taking trades where I had higher time frames lining up with what I was doing on the smaller time frames and entering only using my entry techniques. Today my best trade was done using a stairstep break of 5m candles up for the Ger30 index. I also had a good limit entry on the Fra40 index but realized after entering I was counter trend on the 1h and 4h so I scaled out a nice chunk to get risk free ASAP. At the end of the day, I was also able to scalp a bit more shorting gold as it was in 1h and 4h downtrends. All in all, a good day. Not just in terms of PL but with sticking to my system and remaining in control.
#daytrader #trader #ger #fra #nzd #gold #xauusd #emotions #psyhology #tradingpsychology
Here we go. My first FOREX pair rundown. Here’s my assessment of where the 8 FOREX pairs I track stand as of Sunday night on 6/25 NY time. I’ll mostly be trying to transition to swing trading FOREX. Today’s video is basically my overview of the 8 pairs and where they stand on the monthly, weekly, daily, 4 hour and 1 hour time frames. Where I would be looking for trading IF I was going to be trading them intraday tomorrow or in the coming days. I might use some of my observations to scout swing entries. Updates to come in the Chartguys chat room and to be posted on twitter!
#FOREX #FOREXtrader #trader #daytrader #swingtrader #USD #AUD #NZD #CHF #GBP #EUR #JPY #currency #currencies #money #CFDtrdaer
Back to the trade review videos. It’s been kind of bittersweet thinking about doing these after YouTube suddenly deleted my old channel. Alas, life goes on!
I am walking away today with about a 1/4 of a day winner. Had a great morning where I exercised self-control, discipline, stuck to my system and did great overall. I had 1 winner that hit my take profit target. One Trade that I got risk free then closed out when I saw markets reversing on the trade, I closed out my third morning trade when I saw markets reversing too. This afternoon I sized down on purpose because I was getting FOMO vibes. I took 2 trades to try and “scalp” a short-term trend. RED FLAG. Set tight stops and let stop out. Then took a third legitimate trade that was setting up in the Nikkei (JPN225). But I noticed myself feeling emotions and desperation vibes to “squeeze” more green out. REG FLAG #2. I recognized these feelings closed the trade. Walking about with a 1/4 day maker and having “kept it together.” I will count this altogether as a solid win today.
Onwards and upwards. Happy trading and good health too all.
#forex #internationalmarkets #USmarkets #dow #nas #sp #jpn #asx #fra #ftse #uk #dax #ger #chf #usd #daytrader #trader #trading #selfmastery #selfcontrol #emotions #psychology
Good morning/ afternoon/ evening wherever in the world you are. First day uploading on my new channel Kipu Trader. Today was a good day. I ended the day green and am feeling good about my commitment to LESS IS MORE. I’m almost exclusively trading the dow during NY trading hours and focusing on forex, commodities and other assets for swing trading. I also recently experimented trading the Japan and Aussie indices from around 8-10pm EST when their volume and spreads are best. All in all I feel like I’m falling into a new and improved rhythm after my roughly week and half away from the charts.
#dow #ym #daytrader #cfdtrader #futures #commodities #bitcoing #forex #gbp #eur