Not a very bombastic week.... or month I'd say! it happesn.. There is a thing we need to keep watching "Position of your Setup on m1 within a Higher Time Frame Trend". Fruit for thought....Tomi wrote:What a crappy week. This was a decent setup and looked good but turned to a loss. Darn. There were couple of good opportunities earlier this week but I wasn't on the charts.
-2.1 pips
Tomi's friendly market journal
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immy
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Re: Tomi's friendly market journal
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
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Tomi
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Re: Tomi's friendly market journal
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Last edited by Tomi on 08 Jan 2025, 11:00, edited 1 time in total.
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Tomi
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Re: Tomi's friendly market journal
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Last edited by Tomi on 08 Jan 2025, 11:00, edited 1 time in total.
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Dave
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Re: Tomi's friendly market journal
The early bird gets the worm! Nice one
Now, I choose to make a profit in trading.
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Tomi
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Re: Tomi's friendly market journal
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Last edited by Tomi on 08 Jan 2025, 11:00, edited 1 time in total.
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Tomi
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Re: Tomi's friendly market journal
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Last edited by Tomi on 08 Jan 2025, 11:00, edited 1 time in total.
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Tomi
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Re: Tomi's friendly market journal
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Last edited by Tomi on 08 Jan 2025, 11:00, edited 1 time in total.
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immy
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Re: Tomi's friendly market journal
This is what I've been trying to teach for so long and you put it so nicely within a few lines. Tomi you are on the correct path. We must all take note of what you just said! there is very important lesson there....Tomi wrote:Not posting all the trades. I follow the same approach as last 1,5 month. Wait for M5 range, wait for M5 break the range and take the S1 setup on M1. Sometimes I hit W1 and get out on BE/1-2 pips loss. I target for W3's. Today it was a small W3.
Happy with the tactics. Easy to spot the setup, easy to stay away from the markets and easy to take the trade. Not taking much time either.
Not 100% happy with the exit today though. Should have waited for AO divergence before closing anything.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
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Tomi
- AIMSter
- Posts: 954
- Joined: 08 Jan 2012, 19:21
- 13
Re: Tomi's friendly market journal
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Last edited by Tomi on 08 Jan 2025, 11:01, edited 1 time in total.
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Bettina
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Re: Tomi's friendly market journal
Hi Tomi,
looks very very interesting !
But I have a question - sorry, 3 :
1 ) This is only valid for M5 ranges, means, when M5 is sleeping, right ?
Not for all M5 aims levels. Or do you think it works whenever any M5 level is broken ?
2 ) When M5 range level is broken and a new M5 level is formed while you are waiting for the next M1 setup, you don't wait for this new M5 level break before you take a M1 setup or do you ?
I don't know whether it is clear what I mean ???
3 ) Just in case there is nearly double aims, say M1 setup and the M5 level 2 pips away. Do you wait for the m5 break and afterwards for the next m1 setup or do you set PO directly above m5 level, even if not yet broken.
( I guess you take it, but wanted to know how strict you will follow that rule ).
Tanks !
Bettina
looks very very interesting !
But I have a question - sorry, 3 :
1 ) This is only valid for M5 ranges, means, when M5 is sleeping, right ?
Not for all M5 aims levels. Or do you think it works whenever any M5 level is broken ?
2 ) When M5 range level is broken and a new M5 level is formed while you are waiting for the next M1 setup, you don't wait for this new M5 level break before you take a M1 setup or do you ?
I don't know whether it is clear what I mean ???
3 ) Just in case there is nearly double aims, say M1 setup and the M5 level 2 pips away. Do you wait for the m5 break and afterwards for the next m1 setup or do you set PO directly above m5 level, even if not yet broken.
( I guess you take it, but wanted to know how strict you will follow that rule ).
Tanks !
Bettina