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Thread: My Trading Journal

  1. #51
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    That's it.

  2. #52
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    No new trades for me today, EURCHF from Friday finished on SL. Cable is still on the run, but to be honest, I have a bad feeling about that one Let's see, what the comming days will bring.

  3. #53
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    I was one of those unpredictable days where you are happy to break even. I was a total of 60 pips up on 2 trades. They both turned around and knocked me out a break even. Very frustrating. The European Cyprus situation is making the market volatile.

  4. #54
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    Shit happens, it's always a little kick in a butt when you are 60 plus and after a couple of hours you got nothing But this is trading.

  5. #55
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    It looks like GBPUSD has really no freaking idea, where it want's to go. Still in...
    In the meantime I opened short trade on USDCAD, let's see what it will bring.

  6. #56
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    Fresh update of my results from yesterday and today: Gartley Pattern Trading Journal: The winning streak

    My Trading Journal-gartley-pattern-usdcad.png

    My Trading Journal-gartley-pattern-usdjpy.png

  7. #57
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    And here is the last Gartley.

    My Trading Journal-gartley-gbpjpy.png

    Due to some pending duties, I finish my trading for March and take 3 weeks off. I will resume somewhere in the middle of April
    I want to share with you my results, trading Harmonic Patterns only (!).

    1. From 1st of March till 22nd of March, I opened 21 trades.
    2. I got 17 losers, and 4 winners.
    3. I never risked more than 2,5% of my account on a single trade
    4. I opened every trade based on my strict Money Management plan, entry and exit rules, and in a time defined in my trading plan. I followed every single rule to the very detail.
    5. If I would break my rules a little bit, and took the big Bat pattern on EURGBP (see the previous posts), my account would grow to over 95% in this month, but RULES are made to be followed! So thinking in "what if" makes absolutely no sense.


    So, based on that, you can think yourself, if is it worth to study carefully matherials on this forum, and learn harmonics, or not I can aasure you, every knowledge you need to follow my result, is HERE TO TAKE. My biggest advise: just don't underestimate even one harmonic idea, picture or approach, check everything! I bet you often read something here, and think to yourself: "yeah, it's so obvious, everybody knows that. tell me something I don't know". You can not be more wrong in that moments, believe me. Study it, master it, trade it. Be patient and you will be rewarded.

  8. #58
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    Dec 2011
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    Ziemo,
    A couple of questions:

    0. I understand you are only trading the Gartleys off 1 hour time frame . Is that correct?
    1. Did you take every pattern generated by AMP Monitor or did you use some pre-screening?
    2. Are those 17 trades from 17 different patterns or did you have multiple trades on some patterns? For example, did you keep re-entering even after you got stopped out, as long as you got a fresh entry signal while still in the PRZ?
    3. Is the 2.5% position size fixed or is it dynamic based the R:R ratio/some other criteria?
    4. I am guessing here, but your entry signals are from a lower TF...possibly M5 or below. Is that correct? I'd like to add a comment here...entries from a lower TF are a fantastic way to minimize risk but they also come with a pleasant problem as the account size grows. And at your current growth rate (what is it? 30% for March?), you'll get there soon enough if you keep compounding. Can you guess what this pleasant problem might be?

    Thanks for starting this journal. I am sure it will inspire many and hope it will be an eye opener to some who might be trying to become "Super Traders" with 100% win rate. Please keep the updates coming!
    Quote Originally Posted by ziemo View Post
    And here is the last Gartley.
    Click image for larger version. 

Name:	Gartley GBPJPY.png 
Views:	25 
Size:	23.3 KB 
ID:	3186

    Due to some pending duties, I finish my trading for March and take 3 weeks off. I will resume somewhere in the middle of April
    I want to share with you my results, trading Harmonic Patterns only (!).

    1. From 1st of March till 22nd of March, I opened 21 trades.
    2. I got 17 losers, and 4 winners.
    3. I never risked more than 2,5% of my account on a single trade
    4. I opened every trade based on my strict Money Management plan, entry and exit rules, and in a time defined in my trading plan. I followed every single rule to the very detail.
    5. If I would break my rules a little bit, and took the big Bat pattern on EURGBP (see the previous posts), my account would grow to over 95% in this month, but RULES are made to be followed! So thinking in "what if" makes absolutely no sense.


    So, based on that, you can think yourself, if is it worth to study carefully matherials on this forum, and learn harmonics, or not I can aasure you, every knowledge you need to follow my result, is HERE TO TAKE. My biggest advise: just don't underestimate even one harmonic idea, picture or approach, check everything! I bet you often read something here, and think to yourself: "yeah, it's so obvious, everybody knows that. tell me something I don't know". You can not be more wrong in that moments, believe me. Study it, master it, trade it. Be patient and you will be rewarded.
    kor4x likes this.

  9. #59
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    156
    Hi Dugggils,

    thanks for joining the thread.

    All right, let's go with the Q/A:

    0. Correct, I take Gartleys and Bats on H1 timeframe. Mainly because it suits better my day schedule, you can trade M5-M15 as well, it depends on trader.
    1. Although AMPmonitor is in my opinion the best pattern searching software available, I use it only as a small support to my eye. It shows me in a second what's going on on the bigger TFs, etc. 95% of patterns I search by myself. But this is a matter of experience.
    Since I am still learning I want to find most by my eyes. With time I am sure I will start using the tool even more, as I will get access to many and I will be able to filter out quickly the proper ones (proper for me).
    2. That's a good Q, I like your way of analyzing my posts : ) Yes, it depends on many factors, but as long as the whole pattern didn't fail, I can reenter it.
    For example, on USDCAD I took one SL, but on re-entering trade it gave me something like 6:1
    3. It depends on situation, but it's never more than 2,5%
    4. Correct pal, I go to lower TFs to see better how the candles are created, how the price behaves, where are the possible turns. Price dynamic, the shape of candles (not candlestick patterns, because in my opinion this is only a marketing bullshit, to cash $$ from rookies) are extremely important.

    yep, for March it is 45% now. Hmmm, you got me on that question… I don't see any disadvantages of taking entries based on lower TFs
    Of course, the account grows, the lot size grows, and on low TF the spread factor is also a nasty thing, but I'm not sure what your point is

    And many thanks for the last paragraph, to be honest, it's 50% to help myself, and 50% to help other people. Running journal makes you more disciplined, peoples comments help you to think outside your own "mind-box". The value of the journal is just priceless.
    I truly hope, that maybe one day this journal would inspire someone and help him to stay on the good track

  10. #60
    Senior Member
    Join Date
    Dec 2011
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    172
    Ziemo,
    I haven't begun using AMP Monitor yet in my trading but I have no doubt it is the best there is as far as harmonic pattern recognition goes!

    Your approach is the ideal way to trade harmonics IMO, and I use a similar style. Here is my approach at a high-level.
    This is a top-down approach. Instead of trying to analyze the price point AFTER a pattern develops, I mark my levels before hand so I am 50% ahead in my analysis when a pattern is presented. If the pattern location is not at my desired levels, I don't do anything...I simply pass up on the pattern. Saves me a lot of time on unnecessary analysis every time a pattern pops up. When a pattern location is ideal, I'll switch down to lower TF and start waiting for signals.

    In a nutshell, here's my (over)simplified process:

    1. Mark key levels on my charts for all the instruments I trade.
    2. When I receive a pattern alert, I'll know if it's at a key level or not. If not I do nothing. If yes, I do a couple of quick checks to make sure the pattern is looking good.
    3. If steps 1&2 pass, I switch down to lower TFs and wait for signals (typically 5 min for H1 patterns and 15 min for H4 patterns). At this point my complete focus is on best possible entry. The pre-analysis keeps my mind clutter free.
    4. My exits are usually based on channels, balance points and SR levels. And I sometimes add to my positions if the reentry opportunity occurs early enough. Sometimes, I exit and reenter but I don't take partial exits..its all or none. It all depends on the situation.


    The patterns I trade are not just limited to harmonics but harmonics are the only ones that I get alerted about. Other patterns, I usually scan manually so I catch some but miss a lot of them which is ok with me because I don't take a lot of trades anyway.

    My reference to the "pleasant problem" was about lot sizes and "staying in the trade" as your account grows:-) Here is a hypothetical scenario- for example, if your risk pot(2.5%) = $10000, how many lots is that with a 7 pip SL? A lot. And with that many lots at stake, how will your psyche cope with the swings and spikes in price? Not when you get taken out for a SL, that's the easy part. Its when the trade is going in your favor but in a volatile fashion. It's a lot harder! But that's a very nice problem to have, correct? Hopefully, the psyche will evolve to deal with that problem!

    Enjoy your time off and come back pip-hungry
    kor4x likes this.

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