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  1. #11
    Senior Member Ingmar's Avatar
    Hey Mike,

    I think my confidence comes from experience with the 1m expiry trading i did (broker strategy) I've been looking at 1m charts a lot and i guess i got used to it. I feel less confident with longer expiries. (i also got used to loosing and now a loosing trade doesn't really affect me anymore, so that helps as well i reckon HAHA)

    What i find is when i look at 5 min tf or even higher, i see in my mind all those S/R areas that are visible on the lower tf but not on the higher ones. It makes me unsure about expiry times. What if i choose 2 candles and it takes 1 candle to mess around a price action area i can only see on the 1m chart? It messes with my judgement.

    However, i guess the same goes for 30s charts (or even up to 5s which my broker offers as well)

    In the end i doubt it really matters. Even though people say 1 min has too much noise, I grew fond of the noise and to me it doesn't look/feel like noise at all.

    Perhaps we should do some trading together :-)

    best of luck mate!

  2. #12
    Senior Member Ingmar's Avatar
    I posted this as a response in Mick's diary but figured it perfectly belongs in my diary as well.

    :-) practice, practice, rinse and repeat.

    I just watched a video about candlesticks where a candle was referred as a universe within a universe. A trending upward market that pulls back, goes up high and pulls back again towards opening level looks like a doji if represented by one candle. it opened my eyes regarding my learning journey. First i accumulated so much info (candles) that i felt overwhelmed and confused. One needs to remember so much! Then it starts to integrate and all that info turns into one candle without losing it's information. (and the next 'candles' (info) present themselves LOL)

    Instead of learning things and forgetting the latter when learning new things, i feel like i have to transcend what i've learned and INCLUDE it in the bigger whole. Transcend and include, transcend and include :-) (trend within trend, a universe within a universe)

    LOOONG way to go.

  3. #13
    Senior Member Mick's Avatar
    Quote Originally Posted by Ingmar View Post
    I posted this as a response in Mick's diary but figured it perfectly belongs in my diary as well.

    :-) practice, practice, rinse and repeat.

    I just watched a video about candlesticks where a candle was referred as a universe within a universe. A trending upward market that pulls back, goes up high and pulls back again towards opening level looks like a doji if represented by one candle. it opened my eyes regarding my learning journey. First i accumulated so much info (candles) that i felt overwhelmed and confused. One needs to remember so much! Then it starts to integrate and all that info turns into one candle without losing it's information. (and the next 'candles' (info) present themselves LOL)

    Instead of learning things and forgetting the latter when learning new things, i feel like i have to transcend what i've learned and INCLUDE it in the bigger whole. Transcend and include, transcend and include :-) (trend within trend, a universe within a universe)

    LOOONG way to go.
    Hmmmmmm that's a different way to put it but it does make a lot of sense. I like it.

  4. #14
    Senior Member Ingmar's Avatar
    Dear diary,

    Great day to trade short term today! I made 30 trades with 3 OTM and even snuck in a few with longer expiries! Getting more confident in that as well.

    I won't post all of them off course but there's one in particular i made together with Okane. Iposted this in the skype group journal as well, so if you already read that you can skip ahead :-)

    I'm using a short expiry, Okane a somewhat longer one. Okane, pro like he is, even bought a put option towards his target before taking a long position. I did not specifically drew that target, i waited for the bears to exhaust themselves before i wanted to join the buyers. Our entries for our calls differed a little as well. Two profitable ways to exploit a similar target setup :-)

    First, here's what Okane signalled in the skype channel:

    http://prnt.sc/f098z6

    Here's where he showed his put entry towards his target. Notice the arrow showing the EMA joining his target.

    http://prnt.sc/f09b59

    He's basically showing the group a signal on a gold platter lol.

    This is how i took the trade. I was a bit hesitant to take the call on that high volume candle (that, i bet, kissed Okane's target :-) )because of the trendline i had close above it and i was waiting for the bears to get exhausted. You can see i stepped in right with the bulls high volume candle for a short expiry with that trendline as target. (i did draw the lower shorter horizontal line when the sellers were exhausted.)

    http://prnt.sc/f09jrw


    This was Okane's call.

    http://prnt.sc/f09ifm

    He entered before me and exited later :-)

    When i saw how price behaved around my trendlines after the trade, i decided to surf down on it with a loud YIHAAA during a two minute drop.

    http://prnt.sc/f09n7l

    and i called it again, i love trading using trendlines :-)

    http://prnt.sc/f09q65

    so that was close. I realized it was due to my inflated confidence and decided to leave the UJ for a bit.



    Below is a longer expiry trade i took on the EUR/AUD pair. I actually took the 30min trade based on higher timeframes as well looking at different candle shapes. (universe within a universe) I was a bit worried that that resistline might not hold and checked the lower timeframe. When i saw that bearish candle close like it did i decided to sneak in a little 2 min trade and surf it down like a cheeky bastard lol.

    The two minute trade expired 1 candle before the 30min trade. 2 ITMs :-)

    http://prnt.sc/f09ai2

    The next trade i would like to show is a weird one. I have been looking at candles differently. Recently i recommended a video to Iwan who also just started his diary and is part of the skype live trading group. In this video is explained how to look at the bigger picture by imagining the candles within the candles.

    On this trade i noticed a nice engulfing bearish candle but it had not yet reached my line but it was reaching overbought on the stoch. I imagined how it would look like on a higher timefrime. I took the two candles in mind and imagined the price starting and continuing in 1 candle till it's closing price on the second candle. It looked like a nice bearish red pinbar. Since this would have been on a 2 min timeframe and because price had some room to go up on the 1m timeframe i chose a 4min expiry.

    http://prnt.sc/f08qpx

    It was an exciting trade to watch i can tell. I think even if it had continued right down after that bearish candle it would have bounced back up and i would have been just as 'nervous' with my 4 min expiry haha.

    Anyways, it worked out nicely :-)
    Last edited by Ingmar; 04-24-2017 at 07:02 PM.

  5. #15
    Active Member astravars's Avatar
    Hello, Ingmar!

    Have found your diary. That is quite a hard work you did since the beginning of it.
    I am amazed how detailed your posts are! I didn't think we can write down so much details. But know I understand that only this way our comrads can understand what we are doing wrong and help us develop our skills!

    I am certainly changing my writing style to be more like yours.

    Hope you'll have a great trade!

  6. #16
    Senior Member Ingmar's Avatar
    Thank you astravars. I try to remember as much details as possible when recording my trade. Sometimes i miss some things i did notice when i took the trade live. Great that you are inspired. Perhaps we can all write an entertaining diary like Ronnel someday as well LOL

    happy trading!

  7. #17
    Master Member Okane's Avatar
    Good job Ingmar. Keep us posted.
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  8. #18
    Senior Member Ingmar's Avatar
    Quote Originally Posted by Okane View Post
    Good job Ingmar. Keep us posted.
    Thanks Okane, I will do that!

    Today i started to trade in the morning. Still a bit with my head in the clouds from the trading session the day before i jumped in pulling the trigger like i hadn't even stopped trading the day before. That stupid grin on my face faded fast. I had not taken time to get in tune with the flow of the candles and was trading on S/R only that i had quickly drawn on a 1 min TF thus increasing the risk.

    Realizing my mistake i settled into the flow and trades became more succesful again.

    A trade i liked today was a call option on the USDJPY (again!) i had a trendline crossing my screen that was drawn on a higher TF earlier.

    http://prnt.sc/f0nvt5

    I watched this nice interaction of price with the 99 EMA and when it broke above i stepped into the 2 min trade.
    Notice how the stoch also showed an uptrend in this situation and bouncing off this trendline i imagined without need to draw it. I took my trade on the scond 'touch' :-p

    I like to show the next trade because it's chart shows several short expiry trade opportunities in less then 15 minutes.

    http://prntscr.com/f0t2m1

    I obviously took the trade at the top. But starting above that shorter trendline that got broken, there's 4 opportunities to trade on trendline only! I'm not even counting 'riding the trend' based on what the candles tell you. All pretty solid trade opportunities using S&R on a 1 min chart. (I'm sure you can see much more below that trendline as well :-) )

    Stochastic helps me decide to step in or pass certain trades that close to a S&R area as well as determine my entry timing and expiry times.

    However, now that i'm starting to pay more attention to the actual moving candles i find that sometimes stoch starts to mess with my judgement. I pass trades that are not oversold but get firmly rejected by the S&R and i enter trades that are clearly in overbought/oversoldzones but turn on a dime and continue with their trend. It now becomes even more important for me to learn to read candles and rely on them even more then stochastic for confirmation.

    Btw. In my brokers app there is a chat function. Sometimes i have it open while i practice charting and i saw people signal calls in chat after a breakout took a 'breather' the doji's had huge rejection wicks from the bear strength and everyone went in long with their strategies and indicators. After a minute or two more and more :-( and OTMs appear in the chat window. :-D
    I did warn them for those who might be wondering, but every trader thinks he's right...right? :-p

    I will close for today with a last trade that looks pretty obvious like that on the chart.

    http://prnt.sc/f0lyqc

    I took the trade, however, while the large bearish candle was forming. I had watched the previous candle and i wasn't convinced it would go down. When the large candle made its wick i drew the short trendline, when i saw the candle go down i entered. Technically it's not a 3 min trade but a two minute something. My broker allows me to enter a x minute trade 'late' without altering the initial expiry. Of course you risk sacrificing pips doing this but this also allows me to adhere to the amount of candles i estimated to reach my target.

    Alright, thanks for reading! Thats it for today. :-)

    Ingmar out.
    Last edited by Ingmar; 04-26-2017 at 06:01 AM.

  9. #19
    Senior Member Mike M's Avatar
    Gee this a nice trade Ingmar. Nice looking chart. Nice patience on the entry point.
    Very tidy work mate.

    http://prnt.sc/f0nvt5

  10. #20
    Senior Member Ingmar's Avatar
    Quote Originally Posted by Mike M View Post
    Gee this a nice trade Ingmar. Nice looking chart. Nice patience on the entry point.
    Very tidy work mate.

    http://prnt.sc/f0nvt5
    Hey! thanks mate. It was a fun trade, i'm starting to like trading breakouts more especially when EMAs are involved. I had some trouble with timing them earlier, but now i know it's just a matter of confidence and getting the right confirmation from the candles.

    Price Action is the way to go!

    I couldn;t trade the last two day due to some 'bouwvakkers werk' i had to do for friends, but i saw you guys joining the skypegroup. Excellent! Will see you and Anno tomorrow i hope!

    laters!

    Ingmar

    (P.S. for the non Dutch: bouwvakkers werk = construction work)

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