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  1. #1
    Rookie Member akkydude92's Avatar

    My BO Journal. Not Just the Trading part. !!!

    So I'm starting this journal because I want everything I do to be put in the one place. And I think the one thing I lacked with other ventures I went off on, is I was doing all the work on my own. This way I get response from the community, I get to see other peoples insight into what I'm doing, and other people can learn from it also. It's an all-round winner in my opinion!

    I got MT4 setup anyway, and I have a basic idea of how to use a couple of indicators. From what I've read, I'm gonna stick to just a few for now. I'm gonna use Stochastic, RSI and Bollinger Bands. I also read about using MTF Stoch, but I can't figure out how to set it up. Any help from someone who knows would be really great.

    I've no idea what time frame is best to use for trading yet, or what expiries to go for. But I think I'm gonna try with 15-30 min expiries and watch the 5-15-30 minute charts.

    I already know a little bit about EUR-USD so I'm gonna trade solely on that for the first week just to get used to placing trades and stuff.

    Also gonna try a free 1 day trial with a "signal provider" of sorts. But it's more of a traders room with live video so I'll get a 2 hour peek into how pro traders analyze the charts when doing live trading. Hopefully I'll be able to find a way to customize my own charts to suit what I need.

    Any and all questions or comments are welcome. I'll be popping in every so often to add more to this thread.

  2. #2
    Legendry Member Okane's Avatar
    Hey. Good choice. MTF is just multilple stochastics there is an article on it here on binaryoptionsthatsuck.com
    just search multy time frame or something.
    There is no best time frame you have to look at as many as possible. Good luck!

  3. #3
    Rookie Member akkydude92's Avatar
    Thanks for your reply. I do understand the concept behind it, I just can't figure out how to put both of them on the same chart. I've been browsing around but haven't found instructions on how to do it.

  4. #4
    Rookie Member akkydude92's Avatar
    First trade just made with not much analysis. But I placed a call on EUR - USD/ Price seemed to have dipped and I am expecting it to come back up. Stock and RSI show oversold on both 30 min and 1h charts. I think I could have been earlier getting into the trade but expiry is set for 1 hour. So far it's in the money but that means nothing till the end.

  5. #5
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by akkydude92 View Post
    First trade just made with not much analysis. But I placed a call on EUR - USD/ Price seemed to have dipped and I am expecting it to come back up. Stock and RSI show oversold on both 30 min and 1h charts. I think I could have been earlier getting into the trade but expiry is set for 1 hour. So far it's in the money but that means nothing till the end.
    how did your trade end?

  6. #6
    Rookie Member akkydude92's Avatar
    Still 15 minutes left, but it's gonna end out of the money. I didn't take into account the overall trend of the day.
    Last edited by akkydude92; 09-21-2015 at 02:17 PM.

  7. #7
    Rookie Member akkydude92's Avatar
    As I thought, way out of money.

  8. #8
    Legendry Member Okane's Avatar
    Quote Originally Posted by akkydude92 View Post
    Thanks for your reply. I do understand the concept behind it, I just can't figure out how to put both of them on the same chart. I've been browsing around but haven't found instructions on how to do it.
    Well I just checked out the article and from the picture it is clear they
    have just inserted two stochastic oscillators with different periods as described in the article.
    So just insert two oscillators. If you want both in the same window you must first insert one
    and then drag the next one from navigator window into the one already inserted, just change the periods
    otherwise they will overlap and you can't see there are two.
    Click image for larger version. 

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  9. #9
    Legendry Member Okane's Avatar
    Quote Originally Posted by akkydude92 View Post
    As I thought, way out of money.
    Can't help you this way, it's easier if you could provide us
    with screenshots so we can easily find out where in the chart and what you are trading.
    See other diaries here in the thread you will get lots of inspirations! Just remember to save
    pictures in JPEG format and upload JPEG too.
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  10. #10
    Active Member random's Avatar
    Quote Originally Posted by akkydude92 View Post
    Still 15 minutes left, but it's gonna end out of the money. I didn't take into account the overall trend of the day.
    Is taking into account the overall trend of the day part of your trading strategy? It seems you may need more of a trading plan as to when you enter trades and when you don't. That doesn't mean just adding more indicators.

    Trading is largely a game of probabilities (BO trading even more so). Without defined criteria of when you enter your trades you won't have any idea of the validity of the trade or not. If taking into account the overall trend of the day is part of your trade criteria you've just violated your trading plan. It's not just about finding all the reasons why a trade didn't work out - a lot of the time they don't. It's about having something you can measure your results against.

    There are four types of trades: good winners, good losers, bad winners and bad losers. You need to be able to have good winners and good losers in order to objectively measure your results.

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