Kyle's Journal Mk2

[Grant]

(wd) (wd)

[Kyle]

Two trades today. First one in LO was a beauty. Not very many people took this one in the AIMS room by the sounds of it.
I didn't really get an entry on LO and the break of AIMS a bit past LO was way too high for a breakout trade. Noticed the overall trend was down, and the up move was a possible W4 with A.A at the peak. I took the fruit with a reasonable 14 pip risk. basically did not see any drawdown on the trade at all, and went int he right direction beautifully. When it cleared the AIMS level, I did not go for an Add-On as the AIMS level was very large. With the big move down, and the trade in Stage 3 as such, I decided to trail candles as it pulled away from Gator quite a bit, and the stop was hit, giving a nice 63 pip profit on the 14 pip risk.

2015-04-23_Trade_1-16.png

On analysis afterwards, if I kept to the close above green line, the end result would have been pretty much the same, and as such, was quite satisfied with the trade. Add 1 to the DS on this one to currently sit at 11/17.

I must say I am disappointed at the DS, but without applying it, I would not be thinking that overall, so it is a great tool for reflection over a group of 20 trades. I am really looking forward to completing this group of 2 trades, and seeing how much I can better it next time.

Now, this singular trade, with 0.5% risk returned just over 2%. I had a bad week last week as shown on prior posts, but I was confident int he method and knew it would come through for me so long as I stuck to the plan. I have and in one trade, I almost covered everything from last week, so it shows the true power of the method. big thing to remember - We will all have bad weeks at times. Simply got to take the punches when they come and keep with it.

I also had a trade on NEO, where we had a W3 peak and fruit appear. I took the short along with a few others in the trade room. Must admit this one was slower, and we did get a retracement almost to stoploss after some healthy profits came in. I stuck to the trade plan and did not move the stop until the Gator opened up to the downside. Unfortunately for this one, the profits first returned plus some (maxed out at 23 pips), but these pips were returned to the market, with me closing the trade manually after close above the green gator. unfortunately for me, price jumped up the second the candle closed and I lost a further 6 pips before the trade was closed out, which left me with a 0.3 pip rent.

2015-04-23_Trade_1-17.png

I am happy that I traded this to the plan as such, but more situational awareness would have very possibly saved quite an amount of pips. I was aware we had just come out of a W3,a nd should then have realised the probability was that the price would not retrace a huge amount, and should have been expecting a return to the up move. With that in mind, I should ahve been ready for a S&R and been able to retain about 20 pips, with a reversal entry in mind. Food for thought for future trades and how I see them. As a singular trade though, I believe it deserved a DS of +1 still, bringing my tally to 12/18.

Let's bring this group of 20 home and ensure it happens with a DS of 14 for this group of 20.

[zlabis]

Great trade in LO session. Was a beauty and you were one of a few who took it although it was a perfectly fine AA fruit with good angulation. :-bd :-bd :-bd

[Kyle]

A bit of a negative day today unfortunately. the DAX moved 473 pips (at the time of posting this) and I missed almost all of it, even though I sat in on LO and NEO sessions.
First trade in LO, 3/4hrs in after a nice down move into w3. the actual down move was available as an entry for about 30 seconds before the breakout occurred, so it really shows how close you must concentrate when trading a session. Lesson really learned there.
Anyway, The w3 crossed A0 and got a nice fruit, which I went short on. This trade lasted a minute and was stopped out.

2015-04-29_Trade_2-2.png

Just a simple next. Wasn't too perturbed about it. A bit over 0.5% rent (-12 pips)

Next trade was immediately prior to NEO, a simple Breakout trade with sleeping gator. Took the short and really felt it was going to go lower. Setup was good, but closed the trade when the candle closed above the green line for a very slight profit (1.7 pips).

2015-04-29_Trade_2-3.png

Again, it looked a good setup, but didn't take off on this occasion.

Now, the thing that really hurt occurred. I took a close look at a possible breakout, a 16.5 pip AIMS, so just under what I was happy to trade, but Gator was pointing to the up side a bit and I decided not to take it. Then came the little 170 Pip move down, which, without any add-ons, would have been a 8.5:1 trade (4.25% to 0.5% risk). Quite disappointed in missing that trade and should have taken it.

2015-04-29_Trade_2-4.png

After a short while, I realised this was not a good trade, and with that, it is my first blemish on the new group of 20 trades. Discipline Score for today is 2/3 for a total of 3/4. I also felt I was slightly emotional with that trade and since stopped for the day. I will start fresh tomorrow and ensure the correct setups are traded, and also not over analyse the trades which seems to keep me out of not only a few more rents, but also some fantastic opportunities. Looking at it conservatively, I honestly believe that the first group of 20 trades (DS 13/20) would have easily gained over 10% more had I not over analysed setups and simply taken the fruit on angulation and breakout with sleeping gator.

Soon after the down move, we got a fruit long signal, and given the size of the move and how far it stretched past the gator, I took the fruit long. It went into profit for a while, but then proceeded to the stop for a little over 0.5% rent.

A little bit frustrating today, but that is being honest to myself and then I can do something about it.

[Kyle]

Today, there were no trades for me in LO, however, I took three in total in NEO. Two breakouts and an addon. All on the one chart as they were quite close together.
Right on NEO, I took a long breakout trade as well as its add-on 6 minutes later. It went up for a small profit, before coming back tot he green line. I would have closed a bit sooner, for a small loss, but my feed was stopping and starting a bit and when the trade closed, the feed had frozen, only to come up above the green line, so I waited until it closed below a second time and closed it out. Initial trade a very small 1.8 pip profit, and breakout a -2.5 pip rent. No issue and feel it was traded well. It just did not want to go up at that moment. DS of 1 here.

The second trade was also a long breakout, and took off very nicely. Picked the setup well, but managed it horribly. I closed it at close under green line for a slight 1 pip rent. No issue there ...... BUT it broke out very quickly and pulled right away from the gator and then gave a fruit short. The efficient trader would have closed the long position right there at the fruit and gone short. First, before going further, here is the first chart.

2015-04-30_Trade_2-5_and_2-6.png

Now, stupid me at that time thinks "well, that trade didn't go up but that's OK" and then proceeded to take a screen shot as seen above to record the trade. Good and conscientious? NO. We are in the trading pit and the 2hrs is supposed to be concentrating on those charts and not doing other stuff, even if that other stuff is for trading. While screen dumping and saving, a new AIMS level formed, just 12 pips and a beautiful add-on for the smart trader who shorted at fruit, or an entry opportunity for the trader who missed that fruit.
The outcome of this

2015-04-30_Trade_2-5_and_2-6_afterwards.png

The big down move we wanted, and I had it sitting behind a screen dump that was being saved. That initial fruit short was a 19 pip risk for 81 pip profit and the add-on 14 pip risk for 47 pip profit. Doing screen dumps during trading time cost a possible 7:1 return or 3.5% on 0.5% risk.

A big lesson, and one I should have learned from in the past. If you trade the two, 2hr sessions of LO and NEO, do not worry about recording trades. ONLY focus on the chart and that is it. The rest can be recorded and placed in the journal later on. Spreadsheets of trades can easily be updated after the close of your own trading session.

This is why those who have found the "groove" and are trading very well (Peter, Michael amongst may others in the Skype trading room) are making very good returns where others (me included) are making pips and then losing them again and missing opportunities. They are there in plentiful abundance, and are being taken - however, concentration needs to be absolute for that period of time and trades need to be taken without analysing the crap out of it.
I did start the NEO well, simply trading the breakout, but one lapse in concentration and miss the fruit, look away from the chart and miss the addon or breakout entry. Difference being -0.03% day on the charts compared to a very possible and easily attainable 3.47% day.
That closes off the months trading, which was the poorest this year, but no disaster by any means. May is a new month and will be treated as a fresh start. If i take those trades, then the TM and profits will take care of themselves. I had made over 6% Jan-March, but returned 4% this month. Time to get serious with this and allow AIMS to work for me. It works very well, but I have not allowed it to. May sound harsh, but it is true. The method is first rate and those who trade it properly will make a lot of money/pips from it. I have just got to do the method justice, and that will happen starting May.

Long weekend for traders by the sounds of it with Friday and Monday off with May Day and a Euro holiday on each side of the weekend. That will give some time for some relaxation, and regroup for next week.

[Tomi]

do not worry about recording trades. ONLY focus on the chart and that is it. The rest can be recorded and placed in the journal later on. Spreadsheets of trades can easily be updated after the close of your own trading session.

Absolutely. Just focus on trading. Nothing else. Screenshots, comments etc can be added when it's time to update the journal. Just my opinion fellow. Relax and have fun!

[Kyle]

Was not able to trade LO today. I was stuck at work in the midst of a storm (electricity network worker), however, I did trade NEO with two rents today.

First one was just on NEO. We had, at the time a pretty large down move, and then crossed above gator. With gator open, I elected to take a long PO on the open for a BO trade, however, it took my entry, said thanks very much and then went in the opposite direction. I would have been interested in a short when taken out, but the AIMS level was too large to place an order. Shame, as it dropped by 100 pips from there #-o

2015-05-06_Trade_2-7.png

Now, hindsight being a wonderful thing, I looked at this chart again, and would not have taken it if presented again. Considering the prior down move turned out to be a W3, I was trading a W4 and should not have expected a lot from it. Then it fell into that nice W5. 18 pip / 0.31% rent. DS for this is a 0 for me

Feeling like we were in quite a down move, I avoided a few long fruits for good reason and then we had a reversal in price and a real nice fruit candle appeared. I took this fruit short as per the following chart

2015-05-06_Trade_2-8.png

This lasted just one minute, took my trade out, then found some momentum down again. Hindsight to me says that this trade was a valid one to take and just didn't work out this time. As such, DS of 1 for this one. 13.8 pip rent / -0.47%
2nd 20 DS so far is 5/7

Let's look forward to a better performing day tomorrow, firstly with DS at 100% rate, and then also with some positive pips

[Kyle]

Did not trade LO today as my son was here, however, it looked pretty flat overall anyway.
Came in to NEO and took two trades, one breakout at NEO and a fruit - both shorts and both rents
First trade came with Gator pointing down and price had consolidated a little prior to NEO, so I took the short PO on it, which was filled. Unfortunately, it didn't move how I was hoping and gained a rent on it (16 pips and -0.27%).

Soon after, the price broke well clear of the gator and got a nice fruit with good angulation. Took the fruit short on that one and lasted less than a minute before it was stopped out (14.5 pip rent and -0.5%).

2015-05-06_Trade_2-9_and_2-10.png

Unfortunately, the last month and a bit has erased the great work earlier in the year where I had made over 6% in the first 3 months, followed by 4.8% rent in April and currently 1.5% rent this month, so small loss for the year now. The fruits have been very fruitful (get it ) ) for so many in the Skype room, however, has not done very well with me. I seem to be catching many fruits that do not run and am not around when others take huge gains, as well as not taking the great ones often when in the Skype room with the other guys (and girl).

Next week, I believe I am going to revert to trading S1/S2 trades in order to build up some confidence again. There is a comfort level there and I feel that confidence has been withered away somewhat. Absolutely stoked for the likes of Peter, Mickey and the rest that have been eating pips for fun, but it just has not been happening for me

[Kyle]

OK, too long since I have posted. have got to do this again daily. Since the last post, my results have been very much up and down, but on to today.

Traded LO and NEO, and not overly happy with myself on each session. Taken rents on each, which is fine if that is what the market gives us, but I missed out some very nice trades that would have erased the rents and made quite handy profits on the day.
LO Session

2015-06-18_LO.png

The chart pretty much sums it up. I took three valid fruit shorts and each ended up being rents, which is absolutely fine. They were valid trades, however, coming close to 2% rent on the session, I decided that I'd cut the losses there rather than possibly continue on something that was continuing up. Issue was that not even two minutes past my last rent, another fruit appeared, which I recognised but chose against it for the reason already given. This fruit would have turned into a 4.5:1 and 3:1 trade. Saying that, the 1.75% rent on the session, would have been turned around to a 2% profit on the session. Now, I'm not sure where the balance is for that at the moment, but there does need to be a balance between stopping trading from rents and taking every valid setup that comes along. Possibly, I got this one wrong.

NEO Session

2015-06-18_NEO.png

We came in to the session from a W3 down and then cross of A0 tot he upside, and got a valid fruit straight after NEO. Took the short on the fruit which turned to a rent. Again, I have no issue with that rent as the fruit was valid, however, I think in my mind, I was still looking for shorts and did not apply the BO rules. As such, I missed two long BO trades, a 2.6:1 and 1.6:1. These were trades I should have taken. Not disappointed at the charts, but more so in myself today for not following the plan properly, and by doing so, a potential 3.3% profit on the day actually resulted in a renty day of 1.96%

Obviously no disaster at all with that, but disappointing that I did not harness the power of the strategy, when I clearly know it and should be able to apply it so much better.

A new day tomorrow, with a fresh mind. It will be a good session. Not sure if I'll get to LO, but I will make NEO.

[immy]

Kyle,

If you make a habit of making posts like these, you will NOT miss them. TRUST ME