Mickey's Journal

[kiravon]

http://1drv.ms/1IPBN49

More balanced than yesterday. I think there was potential
for profit in another choppy LO. I ended up with a losing day
probably because I just didn't know when to Stop.

Sequence 11

C1 DS 1 -14
C2 DS 1 +35
C3 DS 1 +36
C4 DS 1 -10
C5 DS 1 -16
C6 DS 1 -7
C7 DS 0 -41
C8 DS 0 -85
C9 DS 1 -27
C10 DS 1 -4
C11 DS 1 +14
C12 DS 1 -18
C13 DS 1 +13
C14 DS 1 +6
C15 DS 1 -18
C16 DS 1 -20
C17 DS 1 -18
C18 DS 1 -3
C19 DS 1 -8
C20 DS 1 -15

DS 18/20 -191 pips ( Double my worse Sequence to date! - Disappointing )

Sequence 12
C1 DS 1 -27
C2 DS 1 +8

[immy]

Hi Mickey

You have to learn to religiously adhere to the rules of taking entries on the break of low and high of fruit candle. not more than 1 or 2 pip buffer plus spread. if its gone 6-7 pips its gone. leave it. You must working on your timing. Specially in shorter time frames. IF a H1 chart is off by 10-15 pips, its ok you can still jump in and in the long run it wont matter but if you're late 5-7 pips on m1 chart basically your edge has gone pooooof! looking at your lovely PPP I can see you make entries well away from the levels where you should be getting in and out. I can say many things about those slides but I assume you know already.

have a good weekend!

[kiravon]

Now did I read that right? Wave 4 ends between 38 - 50 Fib?

Something like this? Highly inconclusive. If it climbs higher than 50%
its not W4. Surely only when it has closed below the low of W3 after
having retraced to 38 - 50 can you conclude it may be W5?

Screenshot_1.png

Screenshot_3.png

Screenshot_4.png

[immy]

look at screenshot_4 and tell me what does it read on eWave?

[kiravon]

What was supposed to be an impulsive Wave 3 down failed
because the corrective 'Wave 4' exceeded the 50% Fib so ewave
recalculated with a new peak that Wave 3 was now impulsive up
and also indicates a smaller Wave 4 retracement which could be 38%
and the last impulsive move up could therefore be a Wave 5

But that would mean corrective Wave 2 is twice as long as the
revised Impulsive Wave 3

I don't think that can be right

Screenshot_1.png

[kiravon]

Nice LO.
Burst of Upward momentum right at LO

Added on at break of AIMS, chose not to add on
again as that is where I usually give it all back,
perhaps in the future I will have greater agility
but my tendency is to run before I can walk.

I was happy with my one campaign for the day

26 +21 and I was done within 15 minutes -

if I had continued on Skype I would have got
suckered in to trading more just for the sake of it

I might have made a bit more, but what
was that fable about the dog looking at his
reflection in the river. he sees a bigger bone,
jumps in and ends up with nothing!

This is precisely what I keep doing! -

I am aware of two negative influences

1. simple greed for more, specifically
fear of missing out on more - ironically
greed and fear together - lethal combination!

2. I can't deny it, and I think its in my
interest to mention this, but often I find
my decisions are strongly influenced by Skype
room

There have been times when guys report 'out'
of trade at a spot that I would normally have
got out, but I hang on just a bit more in case
I can manage to stay in for that really big win
that others miss

Now thats prestige!

Hardly!

Getting to that elite 1% elite traders is never going
to happen by reckless gambling! I might get lucky once,
or even twice but it is totally unsustainable!

There's a reason these guys got out, in accordance with
the rules, and if I can see the same rules I should be out too.

Screenshot_9.png

Screenshot_4.png

Screenshot_6.png

Screenshot_8.png

[kiravon]

Again, Done in 15 mins at LO. I wish this would
happen everyday!

28 +20

Screenshot_15.png

Screenshot_17.png

[kiravon]

Sequence 12
C1 DS 1 -27
C2 DS 1 +8
C3 DS 1 26 +21
C4 DS 1 28 +20

[immy]

Again, Done in 15 mins at LO. I wish this would
happen everyday!

I think it does most often than not! its is US who don't stop.

[kiravon]

Sequence 12
C1 DS 1 -27
C2 DS 1 +8
C3 DS 1 +26 +21
C4 DS 1 +28 +20

C5 DS 1 -3 -9
C6 DS 0 -8 -15

Traded two 'breakouts' at LO that just didn't happen.
Market notably more choppy and jittery than last two
days. I have altered my default SL of 12 down to 8.
With a true momentum breakout you don't need a big SL.

My first three positions chopped out quite quickly, but they
would have been stopped anyway even with 12 SL or even 20 SL

The 15 I lost was where I didn't place a SL. that actually wasn't
the mistake. I will give myself a Zero DS score but the mistake was
psychologically more interesting -

I am quite positively envious of our guys who routinely make three
winning trades in one campaign ie entry and two add ons.

I am not very good with add ons despite two very nice little campaigns
mon and tues.

I am quite content to just have two winning trades in a campaign for
the time being until I get more adept at adding on.

But on my second campaign this morning my add on at break of AIMS
was too far away from initial entry. I didn't place my 8 pip SL because
the price was too jittery, I knew I would be stopped. Price was stalling
and I was hoping for the momentum to pick up so that I could place
my 8 pip SL.

The rules?

Well, with momentum I invariably trail but momentum had stalled.
so I closed at 11858 just under Green which was -8 -15.

So my mistake wasn't the exit but the impulsive add on which I knew
was too far away but I wanted to have a third winning day exactly
like the last two days - irrespective of what the market wanted

But on a sort of plus side I was focused on discipline and I finished
10 minutes after LO rather than get involved with revenge trading.
Had I stayed on I would almost certainly have taken the 8.23 breakout
for up to +45pips. But I have lost up to -175 simply not knowing
when to stay out of the market. So its not about profit or loss its
all about discipline

Interestingly 6 mins after that Breakout Michael wrote that he missed
it too busy writing on Skype

Precisely why I write almost nothing on Skype, I can't trade and
write - I don't even read much. I am however compiling all the gems
into an ebook but the input into Skype is outpacing my compiling
which might mean the book can never have an end - there will always
be more gems to add