Michael's (zlabis) Journal [The Magician]

[zlabis]

Thu.Oct. 09, 2014:

Trading time: 8:45 to 11am and 12 to 1pm, DAX only

Today was a very so-so trading day for me. After studying fruit strategie yesterday evening I was confident to apply it properly. Although I made some good entries (I think so at least), I wasn't able to handle them to profitable once. After 5 fruit trades with rents, I picked an nice S1 at lunch time with a decent winner.
All fruit trades with pos. size 1 lot (0.19% per 10), PO and SL 1 pip+spread below/above M1 or M5 fruit candle.
S1 trade with standard rules, pos. size 1% = 5.3 lots per 10 Pip

Trade F1:
entry was ok, just didn't move in my favour, hit SL. Rent. OK, next. -7.7 Pips

Trade F2+F3:
very good setup on M5 and add on at M1 AIMS level, exit F2 after up fruit and price closed above green gator at -5 pips
and closed F3 after up fruit with -3.3 pips
Should have let it run. The question is: HOW???

Trade F4+F5:
in my opinoin, entry was ok as it was SAR of F3+F4, just didn't move to my favour. Exit at SL with -10.1 and -13.8 Pips

DAX_M1-M5_2014-10-09_Fruit-Trades.png

Result fruit trades: -39.8 Pips / - 0.75%

Trade 1:
simple and easy classic S1. Even the exit was according to my rules at significant up fruit, later price closed above green M1 gator. Some candles later the down move kept moving and moving with some retraces on M1 (see 2nd image below). Whats the best method to take benefit out of such moves? Exit per rules and re-enter the trade at break of AIMS? Handle trade on M5?
+22 pips / +2.2%

Result of the day: -17.8 pips but + 1.45% due to small pos. sizes at fruit trades

DAX_M1-M5_2014-10-09_Trade1.png

DAX_M1-M5_2014-10-09_Trade1_later.png

[zlabis]

Fri. Oct. 10, 2014:

Trading time: 9:30-10:30am, DAX only

After I studied the Fruit-thread again I tried to focus today on the correct entry criteria and accidently right after I started scaning the DAX chart a beautiful fruit setup crossed my way. Strong Pinbar on M5 and M1, good angulation and divergence om M1 so kicked in with several add on.

Pos. size 1 lot, standard fruit rules, exit at up fruit, divergence and price closing at green M1 gator.

lovely 108 Pips

DAX_M1-M5_2014-10-10_Fruit1.png

[immy]

Well done Zlabis... you've done yourself a good favour. Now the difficult bit. Control has to be exercised. Your last two add ons were not based on a criteria apparently just addons because you wanted to add? right? I suggest that we Start with only 1 add on. then build our way into 2 add ons and upto 4 that is total 5 positions. I don't think M1 provides that much space in terms of pips distance taht we may reach 5 entries on m1 so I think 3 should be max. Don't burden yourself. 1 orginal with 2 adds MAX should do the trick. Enjoy your weekend.

[zlabis]

Mon. Oct. 13, 2014

Screen time 9:00-13:00, M1-M5 DAX only.

Turbulent day with 4 rents at beginning. Then 3 nice S1/S2 and fruit trades, 1 quickly closed one and 2 rents.

Result:
- 40 + 12 + 21 + 40 - 17 + 4 = + 20 pips
- 0,7% + 1,2% + 0,4% + 3,4% - 0,3% +0,1% = +4,1% due to MM (S1/S2: 1% = 5,4 to 5,6 lots; fruit: 1lot)

[zlabis]

Tue. Oct. 14, 2014

Screen time 9:00-11:15 (GMT+1+DS), M1-M5 DAX only.

Good start with a beautiful, huge pinbar at 9:00, went long (Trade 1, SL at 1/2 of large wick = ca. 12 pips)

Took 2 Harikari trades at 11:00 (GMT+1+DS) red news which went wrong. I will never do that again. This was part of my old trading habit, which I left behind ;-)

Today's result:
+ 54 - 5 + 10 + 7 - 24 = + 42 pips
+ 1% - 0,1% + 0,2% + 0,14% - 0,4% = + 0,84% due to MM (all pos size 1lot)

[zlabis]

Hi Michael,

Nice work. Try and take only fruits with nice angulation. Filter with less or no angulation also check AO position when taking fruit. You can switch to m5 if you like. This is just my personal opinion.

Regards,
sam

Sam,
many thanks for your advise. I truely need to improve my fruit entries and I'm working on it.

Greetings,
Michael

[Michal]

Michael maybe try to use only the one fruits which will get you in the top of a correction wave
you get less fruits and in my opinion they're very good to start with.I did find difficult to trade fruits at the top of wave 3 and 5 to many fake out or should say i didnt take proper one.Im now on fruits 2.4 with basic setup and happy with it
Im just sharing my opinion maybe it will help you

[zlabis]

Michael maybe try to use only the one fruits which will get you in the top of a correction wave
you get less fruits and in my opinion they're very good to start with.I did find difficult to trade fruits at the top of wave 3 and 5 to many fake out or should say i didnt take proper one.Im now on fruits 2.4 with basic setup and happy with it
Im just sharing my opinion maybe it will help you

Hi Michal,
thank you very much for sharing your thoughts with me. After another day today, with a fruit rent and a nice S1 trade, I think it's a good idea to change fruit-indie-settings to default and, at least for the next time, to catch the more "obviouse" fruit signals.

Thanx again and cheers,
Michael

[zlabis]

Wed. Oct. 15, 2014

Screen time 9:00-11:00 (GMT+1+DS), M1-M5 DAX only.

First trade was a fruit - on M1 ok, but price action and AO on M5 wasn't good at all.
-12 pips

Second trade was S2 with 2 add ons. Nice setup, exit at bounce and up fruit at TZ1.
35+19+11= 65 pips

Today's result: -12 + 65 = 53 Pips

The result seems not that bad, but I'm completly unhappy with my fruit entries. As Michal mentioned above, I'll reset fruit-indie and therefor get lesser but hopefully easier to take signals. Until I master these "simple" fruits, I'l stick with it.

[zlabis]

Thu. Oct. 16, 2014

Screen time 8:30-12:00 (GMT+1+DS), M1-M5 DAX only.

Today was very frustrating, althoug I started with a nice M1 fruit entry on EU. This EU trade stalled after the first zig zag. Then I had 3 rents on DAX M1-M5 fruits in a row. Finally I missed the fruit at 10:38 at the top of a huge down move of about 250 pips with 2 or 3 good add on spots - at least a 500++ pipper.

Today's Result:
+ 4 - 14 -11 -42 = -63 pips

Tomorrow I try to take every single good fruit setup and not let me getting down because of 3 rents in a row. As I discussed with Darren in the chat, I need to get in the comfortable zone with fruits as I feel beeing with S1/S2.

Michael