Michal's Journal

[immy]

Waouh awful trade Michal!!! ^:)^ ^:)^

I closed my trade just before the news, then left...

One question please (which I asked Immy too) = how do you manage your SL = size of the FRUIT candle = 40+ pips ---> Did you adjust lot size to comply to money management? Or...???

Congrats once more/KR

Great Trade Michal!

we do have to take care of News effects.
Fran: yes my lot size is always based on the pips. So when the fruit/seed/aimsbox is relatively small lot size would automatically go up but it would never be more than a certain set percentage of my account i.e. 1% per trade. Consistency is the key and money and position size is the KEY!

regards

[Michal]

Fran I do exactly as Immy was saying i never go over 1% doesnt matter how many pips always trade = 1% risk

Thank you Immy and Fran

[francisrama]

Thx very much Michal...As I wrote to Immy there is one set of rules, and NO EXCEPTION...

KR

[Michal]

Ok time for the rent i paid yesterday.I hope guys you tell me if I did something wrong or that was just expenses in our business

what I've noticed is that after 6 pm uk time I need to stop trading and not to take any seeds or fruits because this is the time when my trades are worst (turned to be rent)
Have anyone else noticed that? or is it just me with my bad judgment call for trades


Eur/usd - entry upon on seed

Conclusion - when i checked h4 Ao was weakning. when i took this trade AO was close to zero and i was thinking it's begining of w5 because i traded when alligator on h4 was open upwards.

Please fell free and more than welcome to help me out with it as I need to know if I did a good entry or I still mess up the concept.
Thank you all !

[francisrama]

what I've noticed is that after 6 pm uk time I need to stop trading and not to take any seeds or fruits because this is the time when my trades are worst (turned to be rent)
Have anyone else noticed that? or is it just me with my bad judgment call for trades

Hi Michal,
sounds familiar to me; as soon as UK closes, I kind of stop trading -getting new positions- Even more "dangerous" is when US closes...

KR

[immy]

Hi

We have always always always said, we trade from Frankfurt open to London Close. Markets move when traders express their opinions in the form of participating in the markets buying and selling currencies and stocks. We trade during the times when majority of those people are actually trading. Volatility and Momentum is what we are after. Chances are that there will be more buying and selling during the time when London and European banks are open as compared to times when only Japanese banks are open, especially for euros. So Frankfurt open to london close are the best times. Sometimes, just before NY close things start to roll as well but as Fran mentioned, as soon as NY is closed those 2 hrs between NY close and Wellington open, are Dead Hrs. We do not have to trade 24hrs to make money.

[Michal]

Time to come back to updating my journal.
For those who has noticed me on this forum (my existance) wanted to let now that I didnt dissappear but just didnt have much time to spend on chat because I was reading a lot and loorking on forum + daily work:/
I've finished a book - Trading in the Zone by Bill Williams and i must say - I totally loved it !! i think is a must position for everyone who has something in common with trading.Book is just brilliant and really can change your point of view on a market and not only - Thank you Immy for recommending it!

I will be posting now also m1/m5 trades and please share all your thougths

[Michal]

I paid a rent closed a trade on stop loss line above the aims box -Next
If you think I should've not take it please point out why

m5 broke the aims, no div

[Michal]

Here is another trade : +6 -1 total : +5 pips

I've got question about m5 because Ao was peaking so actually it was quite risky setup am i right? Im a bit confused if m5 should be close to zero(not fresh cross but no div) or fresh cross ?

[Michal]

Here's one more trade.I hope You guys dont mind but i think if I post different trades maybe some one will pick up my mistakes

Full rent: - 1% (2x0.5%)

Sometimes i think what's better if to close it on a red line or dont move my original stopp loss until i get new aims box ?