Michal's Journal

[Grant]

Michaal,

yes, the aqua coloured candle is an IB (seed)...

Grant

[Michal]

I took this fruit trade and closed it on +33 pips- that's enough for me so that was the reason to close it.Greed kill ).I think i got just luck with this trade because fruit candle it's not a bdc am i right?

Coments more than welcome

[Michal]

i had a fruit before and when i dragged last transaction on a chart it has just dissapeared :/ strange

[Michal]

Hi to everyone!
Finally got some time to update my journal So this is my trade :
I exited in that point because I had to leave my house and I banked already 33 pips which made me happy :)

[Michal]

Same story with this trade I had to leave - closed it in +13 pips :D

[immy]

Same story with this trade I had to leave - closed it in +13 pips :D

Michael!

This was one of the perfect Seed trades. INstead of taking 50-70 pips risk you've manged to grab a .5% winner risking only 20-25 pips. Risking less pips would technically make your lot size bigger which would mean bigger gains but the real success is in the ability to ride the wave until it peaks...

cheers

[Michal]

Thank you Immy your words cheers me up
It's the problem with my limited time sometimes.... I didnt want to leave it when I cannot check what's going on.But I'll try do as you say once I'm in the trade to maximase profit from it.

I'll keep on posting

[immy]

Thank you Immy your words cheers me up
It's the problem with my limited time sometimes.... I didnt want to leave it when I cannot check what's going on.But I'll try do as you say once I'm in the trade to maximase profit from it.

I'll keep on posting

Yes, keep posting, posting will get you there. Its a team effort here...

e.g. in this trade had you brought SL to BE and left it as it is, or kept a 1:2 TP, you'd have made a good trade. no worries next. Personally I believe to make proper money from trading, the way forward to is to maximise profits by letting it run and later learn to add on. but one should not take multiple years to start adding on. I'd say once you grab hold of hte setup and start to see your account grow or stay a par for a few months, adding on is the way forward.

cheers

[Michal]

I just left original stop loss but I'll try to add new things to my trading like you said adding on etc. but firstly I was focused on spotting entry's.Also I want to trade more fruits but they seem to be more dificult to sort which is good which is bad setup but I'm on it so I keep my finger crossed.

Thank you Immy for all the effort ! - again and again )

[immy]

I just left original stop loss but I'll try to add new things to my trading like you said adding on etc. but firstly I was focused on spotting entry's.Also I want to trade more fruits but they seem to be more dificult to sort which is good which is bad setup but I'm on it so I keep my finger crossed.

Thank you Immy for all the effort ! - again and again )

We now have 3 ways to make entries.

On your given time frame, if you find A tightly sleeping gator, with AIMS Wave at or near Zero line and The box is tight lets say less than 50pips on H1 EUR/USD you may want to take the breakout in the direction of trend. this is classic dot trade. For direction of higher time frames trend we can either use the purple and/or eWave analysis or quickly have a look at h4/D1 to establish trend direction (in case you're trading H1).

Remember that at times a higher time frame will show a clear trend e.g it shows an up trend but that the trend/wave might be towards its end i.e. AIMS Wave (ao) is peaking and gator has been open for a long time etc and/or divergence on AO (keeping in mind that within very strong trends, sometimes not trading if you see divergence might lead to missing alot of good trades but that is ok)

If you see that the gator is sleeping (that is lines are intertwined and inside the box) but that the box is too big, (meaning stop loss on the other side of the box may require much larger stop loss in pips than whats normal for that time frame and/or pair) just like in your example of EUR/USD h1 , seed trade, if you've established the trend direction and would like to make a safe entry with low risk, we may use Seed to make entries, exactly like you did. Well done. And then exit on green line or trail aims or trail candles if price moves too far too fast away from gator lines.

and 3rd entry technique is to be used to pick the tops and bottoms of waves. Now don't get me wrong, this is not necessarily or exclusively "trend reversal" technique, it is rather a technique that allows us to "pick top and bottom of waves". You may end up trading reversals of trend in to "formation of new Waves/trend int he opposite direction" or you may get an early entry at the "end of a corrective wave". Now this is powerful if we are able to pick peak of wave 2 or wave 4 into new wave 3 or wave 5 respectively, we are able to maximise our profit by getting into a trend before many others. Pay attention here, when I say "peak of wave 2 or wave 4" it does not mean only shorts or only longs, it means the spot where wave 2 or wave 4 (corrective waves) may end so peak could be the high/top of wave 2 in a down trend (since wave 2 in a downtrend means price pulls back after an initial wave 1 to downside or bottom of wave 2 in an uptrend.

I hope this makes sense. (do not trade top of wave 3 if you don't have to but top or bottom of wave 5 could get you into new waves in the appositive direction of the previous trend.

Enjoy the rest of the day!

ps: once you understand that above, the above 3 entry techniques could be used in conjunction allowing us to maximise our profitability. E.g we get into a new wave 3 by finding a Fruit at the bottom of wave 2 in an uptrend, and then we see a Seed and make entry using the seed followed by an AIMS level break using S1 or S2 setup now we may have 3 entries and we are laughing! :-h \:D/