Mdock's Journal

[Grant]

HI MDock

good trading again, just an observation if i may, the trade with the vanishing aims level was a minute before red US news.... nothing wrong with the set up at all i'd just be careful at news times...

keep it up

cheers
GRant

[Mdock]

Thank's Grant, i was a bit confused when the level disappeard. I don't look at the news often i should do it more.

I found your trade management doc today have set the disaster sl to 13 pips. (was 15)
After 5 pips i put s/l to b/e , you move it to -4 can't figure out what's better ?
After 6 pips i set trail start high/low 3 pips behind previous candle until it gets hit.

Most of my exits are close to a red dot, i think i can't tweak this a lot better...

Cheers Mdock

[Grant]

Hi,

the reason behind -4 is more often than not (but not always) price will retest the AIMS level from which it broke out. Over time i was fed up with my BE SL being hit by a pip or 2 to then watch price go where i thought it was going to go.

hope this helps

Grant

[immy]

Mdock, I'd like to add my 2 cents!
that -4 rule is really a mark of genius. I never understood it and kept paying bigger rents though it also helped with getting bigger wins, but eventually the results in the long term were the same. Hence the shift to -4 for me too. You See, we traded over 12 months together, on a daily basis, he traded what I then called the scalper who called himself M1 Trend Trader, where as I trade more intuitively, with more discretion comparatively and managed my trades differently, letting it run and mange it differently on a case by case basis , in the end the results that I have got are only slighly better than Grants but comparatively with far more trades. I enjoy trading and taking trades, it works for me, but if you don't want to trade too often and would like to raise your account 1% per day then this trade management for m1 on eur/usd is really unbeatable. Genius!

[Mdock]

Hi,

Thank you it's clear to me, i made a note of it.

Mdock

[Mdock]

Today's trades.

There better trades on the charts but wasn't there.

Mdock

[John Wimberley]

Nice one!

[Mdock]

Hi,

Lot of action today only one trade taken today +10 pips.
Next trade i didn't take was thinking about it :-s

Mdock

[Grant]

Good trading Mdock,

the one you labeled as a potential trade i passed on as the AO was too far from the 0 line at the time of entry. Looking at the chart now it looks a hell of a lot different....... lol

cheers and keep it up

Grant

[Mdock]

Hi,

One trade for me today, AO was a bit big on M1 on M5 it looked ok.

Have a nice weekend.