Im basing this on -general GBP weakness - bad gbp news this morning and through the week -CHF took a knock yesterday (BH) and is recovering today
Comment
⋅
I entered before the 1H close I miss read the stochastic (somehow) I didn't really the entire currency pair I felt a little paniked when i entered
Comment
⋅
I said NZD is the control pair in my plan - should I have awaited it to set up?
Comment
⋅
Right at this moment (15 min chart) there AUD has strong control of group also
Note that right at this moment (15 min chart) GBP has highest volume. Is that useful information? I guess it means most eyes are on GBP so most likely to do something...
Comment
⋅
Im sure sure how healthy this is looking - it's really struggling.
i REALLY want to pull some money off it. I'll hold my nerve till TP1 - assuming it goes there....
Comment
⋅
I've closed 10% of the trade and tightened my SL. My account exposure is now 0.9%
I'll give this trade 1 more hour to prove itself then close it.
Comment
⋅
I've pulled my stop into break even and I'll just leave it till the end of the day. Scenarios:
- I can be stopped out for Breakeven. (Plus i took a slither of profit earlier) - I can hit target unlikely. Right now I'll settle for target 1 - I can close for what ever profit at end of day.
note - there is more news today but its at the end of the NY session and its Friday. There is EUR news in 30 mins - maybe that will give me something or stop me out.
Comment
⋅
Forgot to note I have beautiful fib snaps. Like a work of art... The only reason I'm letting this run is that I have defence from the 38%
Trade closed: stop reached
⋅
Stopped out for BR. The new release got me. Will there be something after the panic?
LESSONS LEARNT - think on average if I take pieces of profit as I got I'll do better - maybe I can trust my instinct a little more now. I have alarm bells screaming that this trade wasn't working.
Hi John, I like how you use the Ideas feature as your trading plan. This inspires me to do the same. Keep up the good work, and best of luck!
john_everist
⋅
@felixastin Thankyou felixasrin, I’m finding it difficult to manage ideas, data and plans in a manner where its easily to process the data and drawing conclusions. I’d tried onenote, slack and evernote but its difficult to maintain. I found that the trading view ideas module are best suited - not surprising as its what its designed to do. When I started publishing ideas (privately) I found that my profitability would’ve actually been pretty good if I actually took the trades I considered - I wouldn’t have realised that had I not published ideas I was wondering about. I’ve been publishing as a means to separate final ideas from preliminary (which I keep Private then usually just delete). If we dont record the success of our approach how can we draw conclusions. I was also curious to see as to whether I could receive constructive feedback on my approach. How are you doing?