Hello Traders! This is another great example of how I trade Asian Session
I didn't know what to expect at night when BOJ was talking about interest rates that stayed at the same level. But what happened was GBP shoot to the moon. What I saw in the morning it was clear to me that Buyside liquidity was taken out and that created an opportunity to enter. Price started to drop down creating FVG on a lower time frame (3min). Then the price...
This Is part 1 on Market Analysis, Waiting for set up and taking trades. Hope this help.
I think this is one of the most distracting thing while you trade. If you are in the "zone" and there is a dog, child or your spouse around it is very difficult to focus on your trades. I did 5 trades altogether. Initially, I end up with a 6.5% profit but due to continuous trading, I end up with a 2% profit. Let's keep going.
This has been one of the longest days. I took two trades, the first at a loss of about -3.5% and the second 3 x 3.5% win.
Moved my stop loss and you may say I did it too soon however we all know price sometimes is unpredictable. Instead of bigger profits, I end up with smaller ones. Well, we don't dwell in the past. Let's move on and think about another profitable setup.
This is part 2 of my trading day with analysis. So far 2 winning trades and 1 lost.
One win and one loss but overall in the green. This is to show how I look at price action and what makes me take the trade.
Today I have encountered one missed trade and 2 losses. I think discipline is one of the main issues I have to deal with. I going back to back-testing.
Missed one trade and got to another. Buying at almost premium. From the moment I missed the trade, I was waiting for FVG creation. Price did retrace to FVG but consolidated for some time. It tool longer then I anticipated but in the end, everything worked out. Please share your thoughts.
I don't follow standard Support and Resistance mode or Supply and Demand but instead I do follow Price and Time. Still lots to learn but getting better. This is something I wanted to try today. 8.30 NY News and later on 9.30 NY session open. I was taken out at first but later on whole thing played nicely. Please share your thoughts or if you have any questions...
Morning small profit taken. I was late to enter at premium but no matter. It did play out from FVG which was created during Asian session. Price got back to FVG and slowly start falling. At the moment I'll be looking to go Long once new setup will form.
TP 1 was taken but TP2 and TP3 no. end of the day I'm in the green and that's what counts. I'll be waiting for another setup during the NY session.
Again FOMO. I've taken profits earlier. It looks like this is something I still have to work on.