''Emotional'' journal

As trading involving emotional control. it is a wise move to record the emotional side of trading and compare it with the result.

Trading 1 > Emotion 1 > Result 1 (red -ve , green +ve , yellow) ( not in term of USD)

A trader's job is to trade or holding the trade

How to protect your trading mind

Once trade is entered, I would say wait for stop loss to be taken out OR IF YOU FEEL IT NOT GOOD, GO FLAT ASAP. I said this because trading is naturally risky and a losing business....If the trade proved to be good, then the trade now should be breakeven. Once the trade is profitable, bring the stop loss closer to make sure the profit is protected. Not only that, my TRADING MIND is protected from emotional worry. I can see and think clearly.

The Fibbemas and the gang

To repeat - What I need to trade succesfully:

Experience - such as yesterday - back to base is again showed in CL.

The lucky Fibbemas :he he :
5 , 9, 20, 50, 100 - Why I didnt follow the oldman's sequence you asked...Well, he didn't trade CL

Candle Pattern : Hammers, doji, engulfing, inside candle,  wedge, covering

Lots of  3 point lines

Long Range Lines

Volume

Y - High,Y- Low, Y-Close

Trading Styles: Breakout in 4mins, Pullback and Continue 1 min, Bothways Triangle, 50% retracement, Observing Candle patterns.

Donchian Channels to be considered

Still on sabbatical leave

Halfway through Ramadhan and I'm still on sabbatical leave.

This give me opportunity to re think strategies.

What I have now that I can predict only about 10% of CL behaviour.

The other 90% drive me nuts - the ranging period.

How you can plot your trading plan if the price is random ?

Traders said it's hard to predict the highest and the lowest.

I will focus how to determine that - the level of high and low and play pull back at SR

Again, CL went to the starting base before jumping down

The market scaled higher and higher to the peak
Then I looked at 1chart, I saw the hammer and doji
the 3chart showed normal candle but with MACD divergence
My 50chart show contraction of bolingger.

I put SIM short . Walla - Quick SIM win 490.

Way To Go

SIM - This session the CL repeating its die-hard behaviour . It confirmed my CL theory.


Go to the base and jump : Jump up or jump down.

So my WTG

1) identify the base first - starting line, normally at the Pivots and SR
2) check the space of least resistance - direction
3) look for the pattern - the trigger - 2 types - the price pattern esp triangle , the candle esp hammer (pin bar), bigger candle and doji (spinning top)
4) My Stop Manager will deal with my losses , so I will concentrate only on the profits.
5) I may use stop order and market order where necessary
6) Special obs: Turnaround : After a long trend or long candle, usually followed by a hammer, a candle (various types) then price cross the line of dojis. Enter at the correct side of dojis lines.


Disclaimer : Foooollow at your own risk. You may have the knowledge but you dont have the xperience to deal with my set up.