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  1. #1
    Active Member

    Frederic 's Trading Diary !!!

    Hi, everyone. After reading so many inspirational diary, I wanted to start one myself. This way, i will be able to get feedback and lessons from ppl to

    Alittle bit of background: Total newbie, always thought that indicators is the way to go, till i busted multiple account and finally got a slap! Right now, i am on my journey to a better trader. I am interested in naked charts(still a complete newbie) and I will post as it goes!

    Sry for my poor english
    Last edited by Frederic93; 06-10-2016 at 06:08 AM.

  2. #2
    Active Member
    I am currently learn to draw Trendline, S&R but i am not very sure if i drawn it correctly. Posted some pics of it from time to time.

    Click image for larger version. 

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  3. #3
    Master Member Bogdan G's Avatar
    Good luck with your journey. To me those lines look good. Take a look at vulgartrendkill's diary. We've just had a trend line discussion there: http://forums.binaryoptionsthatsuck....-s-Diary/page6
    Insanity: doing the same thing over and over again and expecting different results. Albert Einstein (attributed)

  4. #4
    Active Member
    Did a demo trade using, S&R, Stochastic, MACD, RSI and alittle candlestick pattern. But OTM
    -touching support
    -Stochastic was oversold
    -RSI was oversold, pointing up,
    -Engulfing Pattern was shown

    Place a 15 mins expiry after the confirmation candle(which is the candle after the engulfing green candle)
    Blue arrow is where I place and cross is OTM for 15mins and 30 mins expiry.

    I wondered if because of the candle hit the resistance i plotted or my S&R are plotted wrongly, or my indicators are not set right.

    Click image for larger version. 

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  5. #5
    Legendry Member Okane's Avatar
    Hey, perfect, now we can help you =).

    First, good pictures and explanation.

    Second, regarding your post #4
    It seems you entered way too late!
    You had the support line and oversold area
    on the stochastic.
    If you look at the M15 and even above, you will see that today
    the market was falling, so taking a 15minute put right at the top of a lower
    high is a big mistake.

    I took a put just at the top before you, here:

    Click image for larger version. 

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    **Your trade was at the top of that bull candle to the right
    approximately 10 candlesticks from mine, and do you see how you took a call
    right where the DOWN trendline intercepts that candle?

    My trade had several confirmations:
    1. EMA 200 touch on M5.
    2. Price was dropping all day so a lower high.
    3. Stochastic overbought on 4 timeframes = really good convergence.
    4. I drew a resistance line based on recent price.

    As I said, it wasn't wrong to take a call cause that support line seemed okay BUT, in that
    case you should have entered at the touch on your line but you waited till it became a lower high
    so it was waaay too late to take a call at the top of a high during a downtrend! I hope this helps.
    Last edited by Okane; 06-10-2016 at 10:28 PM.
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  6. #6
    Active Member
    I always thought that i should wait for next candle as final confirmation thus enter late. Hmmm...

    I add EMA99 & 200 learned from your videos, and i was shocked my entry is so close to ema99 resistance.

  7. #7
    Legendry Member milos's Avatar
    Quote Originally Posted by Frederic93 View Post
    I always thought that i should wait for next candle as final confirmation thus enter late. Hmmm...

    I add EMA99 & 200 learned from your videos, and i was shocked my entry is so close to ema99 resistance.
    Good luck with your trading dairy. Loooking good chart analysis.

  8. #8
    Legendry Member Okane's Avatar
    Quote Originally Posted by Frederic93 View Post
    I always thought that i should wait for next candle as final confirmation thus enter late. Hmmm...

    I add EMA99 & 200 learned from your videos, and i was shocked my entry is so close to ema99 resistance.
    Well, it depends on your expiry. If you are doing long term, then yes you should wait.
    BUT, if you pay attention to what I said about the trend, you notice that in your case,
    you were trading a CALL at the top of a lower high in a bearish market! So in this case,
    your leverage was already over. The buyers came in at support for a short while before the downtrend
    continued and you entered too late on this short retracement. If you were going IN the direction of
    the downtrend however, that would have been another story. Then you could have entered a PUT at the
    lower high once you had a one or two M5 candles confirm the retracement was over.
    I hope that clears things?

    **Moral of the story: Don't take long term call options in a bearish market when price
    is dropping and making lower highs. In these conditions, take advantage of lower highs with
    overbought levels (just like my trade I posted above). Why? It's safe, the market is going the
    way you wanted to and you enter at a good position.

    ***
    One more thing. Here is a counter trend trade;
    Price Action Trading
    Check it out. Then imagine what would have happened if I had waited two candles before entering that trade!
    Last edited by Okane; 06-11-2016 at 08:29 PM.
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  9. #9
    Active Member
    Quote Originally Posted by Okane View Post
    Well, it depends on your expiry. If you are doing long term, then yes you should wait.
    BUT, if you pay attention to what I said about the trend, you notice that in your case,
    you were trading a CALL at the top of a lower high in a bearish market! So in this case,
    your leverage was already over. The buyers came in at support for a short while before the downtrend
    continued and you entered too late on this short retracement. If you were going IN the direction of
    the downtrend however, that would have been another story. Then you could have entered a PUT at the
    lower high once you had a one or two M5 candles confirm the retracement was over.
    I hope that clears things?

    **Moral of the story: Don't take long term call options in a bearish market when price
    is dropping and making lower highs. In these conditions, take advantage of lower highs with
    overbought levels (just like my trade I posted above). Why? It's safe, the market is going the
    way you wanted to and you enter at a good position.

    ***
    One more thing. Here is a counter trend trade;
    Price Action Trading
    Check it out. Then imagine what would have happened if I had waited two candles before entering that trade!

    Understood. Follow the trend. If counter trending go for short/earlier entry? kinda correct?

  10. #10
    Senior Member DaVychi's Avatar
    Hey,I see on the of top of brokers list BdB,signal provider AutoBinarySignalas.They are two bigest scamers.So,may question is,what are you recommend to leare for beginers?

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