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  1. #1
    Rookie Member

    Teran0vA's Trading Diarie !!!

    Hi fellow traders. Im a new member that only found this site a week ago, and have already learned so much from it. I have been trading for a little bit over a month now and Im really enjoying the challenge of it. Im not very good at writing things like this so I hope you can understand what Im trying to say.

    My first trade Im sharing is unfortunately one that failed but I think sharing it might teach me not to make the same mistakes again.

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    The initial plan was to wait for it to bounce of the 0.76691 line but I got trigger happy when a couple of my other criteria were met.
    The reason I made the call on this trade was due to a couple of reasons. Mainly that the price crossed 2 proven trend lines (red 0.76735 and the orange diagonal) while the 1min, 5min and 15min Stochastics were below the 20 and stared moving up. (The lines were below 20 at the time, the high candle spike changed how it looks when going back. )

    The expiry time is also set way to long, I think I left IQ options on a different chart time so I didnt notice in the rush of changing plans.
    The trade would have won if I sticked to my original plan.
    Maybe also trading a call on a downward trend was wrong.
    I was also over expecting the price climb of all 3 stochs matching up below 20 in a downward trend.

    Thats all for now, I hope I can share a winning trade next time.
    Have a good day.

  2. #2
    Senior Member Mike M's Avatar
    Hi TeraNoVa,

    I'm excited for you because by starting your diary, you've taken the 'bull by the horns' so to speak and I
    can promise you that if you remain diligent and keep working hard, our incredible leadership group will
    help you develop.

    Your charts look pretty good from my " learners licence " perspective. I'm not quite good enough yet to make sense
    out of the 1min charts so I draw my lines on the day/H1 chart, then I drop back to the 5min chart to find my entry
    point. I'm currently using a 10 to 15 minute expiry period.

    Anyway my friend, our Guru's will drop by any minute now to help you on your way.

    All the very best.

  3. #3
    Legendry Member milos's Avatar
    Hi TeraNova!

    Nice charts.Keep trading and share.

    Happy trading!

  4. #4
    Master Member Okane's Avatar
    Hey welcome!
    I think we spoke last night and specially about trading diaries so it's good that you actually created one and I have to say
    it's a great first post!

    My feedback:
    Price was in a downtrend, not saying you couldn't take that breakout trade but since you are going against the main trend here you can't take a too long expiry
    since you have to expect the trend to continue. In your case, it was better to go put options. Breakout trades are not recommended unless you are very experienced.
    When doing breakouts, better to have patience and wait for retracements!
    Here is an example from last night where what I explained happened on USDJPY:

    Here, USDJPY had a very strong daily support on the blue line area so after a few attempts it eventually held
    and price came up with full force. I did however take a put option at the red line but only for 10 minutes by watching previous drops there.
    Click image for larger version.

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    Here I took a call, based on M1 chart actually. The bulls here were very very strong! These are things only experience is gonna teach you
    to have intuition enough to see the potential target and that price is really attempting to get there and that volatility is big enough.
    So the target was the green line here.
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    Hope these help!
    OptionHeimer: I am become debt, destroyer of accounts!

  5. #5
    Moderator Kolyo's Avatar
    Hey welcome to CommuniTraders! Great to see you here It is very good for your learning that you started a diary here. Tradingview charts are also good choice for presentations. I will agree here with Okane, your trade was in clear down trend that's why it is a mistake in general. While you are learning you will make a lot of mistakes, that's not a problem. Keep posting and listen to the comments of the other traders. You will build slowly your own feeling and understanding which trades are good to take and which are not. Try to focus only on few instruments and only on narrow range of expiries. Don't trade for example at the same time 5 min trades and 24 hours. Focus on something and try to master! Wishing you good luck and feel free to ask if you don't understand something
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  6. #6
    Rookie Member
    I have been playing around with a bunch of different strategy’s and found that the Guppy Trend lines one really suits my style of trading. I added trend lines, Stoch and MACD indicators to help a bit more. I use the 15 second time frame on IQ options to get more precise entries on the 1 min chart. It really shines if the currency pair have been trending for a while like AUD/USD have been. I found that watching the lower time frame charts long enough you start to get a feel of how the candles move.

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    From 18:47 on I started testing the guppy strategy. The 21:38 loss was my mistake breaking my only trade with the trend rule.

    I’ll keep testing it on different situations but so far it works very nice when the market is trending.

  7. #7
    poe
    poe is offline
    Senior Member poe's Avatar
    Quote Originally Posted by Teran0vA View Post
    . I found that watching the lower time frame charts long enough you start to get a feel of how the candles move.
    Wait until the broker realises u are making some money ( if u really can with such TF )and behold the wrath of the " fixed prices " .
    "He who makes a BEAST of himself, gets rid the pain of being a MAN" S.J

  8. #8
    Master Member Okane's Avatar
    How's it going with the Guppy? It's pretty good I think even though I never used for a longer period.
    OptionHeimer: I am become debt, destroyer of accounts!

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