Kyle's Journal Mk2

[immy]

Cherries only for Skypers.

[Kyle]

Traded most of the LO today and what can I say. Another 3 rents on it. Last winning trade was 12 trades ago!!

Anyway, right on LO, there was a short signal, but many of us didn't get it. Those who were vigilant enough to correctly identify it without the indicator alerting - or those with the indi that had it on there were very handsomely rewarded with trades of up to 10%, if not even a little more.
It was quickly identified on skype and I watched patiently, making sure I didn't try to rush in to catch the falling price. It eventually bottomed out and I chose not to trade the first few signals as it hadn't retraced enough, and in the end, the trades would not have been triggered anyway, but after the price went into the gator, a short signal was given and I took the trade. Initially, it looked pretty good, but then reversed to take out SL for -0.89%.
Then, we had our cross of AO into W4, and back into the start of W5 with a fresh signal, so I entered that one as well. Two minutes later, the next SL was hit for -0.93%. Tried once more with another short signal, again what I thought was a valid setup, but it fell to SL again. three trades in pretty quick succession, and all valid in my eyes, so i decided to stop for the day. Either the chart is not playing the game today, or my own psychology is failing me.

2015-07-27_LO.png

July for me

2015-07-28_0024.png

Not sure where to go from here. I have a solid strategy, that is being traded very well by many others - some even made returns in excess of 15% today, yet I was unable to select a profitable trade and the account is bleeding a death of 1000 cuts. I feel I have become quite conflicted in the Skype room, although so many others are doing fantastically well (keep that going guys - it is inspirational), but it has become very hard to hone down one strategy only with so much being spoken about and encouraged to use. I have been trading live for 4 years now and still seem to not be able to make headway - only thing being that I still have never blown an account, but mine has been hurt to the point where I no longer wish to continue the bleeding of it.

I absolutely love the concept of trading, and do have a clear direction I want it to head for me, but it simply seems to not be heading in that direction after this much time. I am going to take a break from it for a while and refresh myself as such. I know the theory of it, but it is not happening for me. i was hoping that it would be the case of it being darkest before dawn as such, but just not happening. Possibly hindered with the bouts of depression & anxiety still with the hangover from a bad separation and child custody issues. Maybe just too much running through my mind all at the same time. Shame, because I really feel that the trading has levelled my mind quite a bit and is somewhat cathartic for me.

Anyway, I will be back. I might just give the northern summer a break and come back in a month or so, but will be back to demo trading then. Already feel I will be stripping right back into taking trades into W5 exclusively.

[Darren]

Sorry to hear you are having a hard time Kyle. I have had a few bad days recently as well which proves how similarly we trade! Maybe a break would be good for you and allow you to become refreshed and come back stronger. Personally I find it hard taking a few losses and having to stop trading, only to find had I continued it would have been a fantastic day! That's the way it goes sometimes I guess.

I wish you all the best.

[moty]

Kyle and Darren and all the rest who are struggling with the system evry day.
I understand very well your feeling, so let me tell you my solutin.
First, I concentrate on trading the AA. in my eyes, this is the most profitable method, the most obvious where to enter and where to exit.I only check retracment of 38% to 50%, or touching the gray line and whether W5 did not finish its course and reached TZ1/2.and that is trend in HTF.Also a clear exit, most of the times just TZ1.I succeed approximately 60% of these trades, when the W/L ratio is more then 2:1.The only disadvantage of the method for me, there are relatively few entry signals, and a long a move may be missed without logging a trade.

My second method is: I'm waiting for SEED on M5, and then go looking for S1 on m1, here olso,no need too much filter, and a very clear entry, and high success winning rates.

Another method I check these days, finding the "Monarch" on M5, and entering a trade on m1, by Seed, Cherry or AA.

Since I cut down my trades, to those methods only,There is a very big improvement in my results, and I am also a lot more relaxed during the day.

I hope I helped a little.

[Darren]

Kyle and Darren and all the rest who are struggling with the system evry day.
I understand very well your feeling, so let me tell you my solutin.
First, I concentrate on trading the AA. in my eyes, this is the most profitable method, the most obvious where to enter and where to exit.I only check retracment of 38% to 50%, or touching the gray line and whether W5 did not finish its course and reached TZ1/2.and that is trend in HTF.Also a clear exit, most of the times just TZ1.I succeed approximately 60% of these trades, when the W/L ratio is more then 2:1.The only disadvantage of the method for me, there are relatively few entry signals, and a long a move may be missed without logging a trade.

My second method is: I'm waiting for SEED on M5, and then go looking for S1 on m1, here olso,no need too much filter, and a very clear entry, and high success winning rates.

Another method I check these days, finding the "Monarch" on M5, and entering a trade on m1, by Seed, Cherry or AA.

Since I cut down my trades, to those methods only,There is a very big improvement in my results, and I am also a lot more relaxed during the day.

I hope I helped a little.

Your method of entries make sense Moty - thanks for letting us know about them!

I will keep an eye on them and may follow you.

Cheers.

[immy]

I've tricked Moty to Join the Group so we must take advantage of him before he tricks me out of it!

[zlabis]

Kyle and Darren and all the rest who are struggling with the system evry day.
I understand very well your feeling, so let me tell you my solutin.
First, I concentrate on trading the AA. in my eyes, this is the most profitable method, the most obvious where to enter and where to exit.I only check retracment of 38% to 50%, or touching the gray line and whether W5 did not finish its course and reached TZ1/2.and that is trend in HTF.Also a clear exit, most of the times just TZ1.I succeed approximately 60% of these trades, when the W/L ratio is more then 2:1.The only disadvantage of the method for me, there are relatively few entry signals, and a long a move may be missed without logging a trade.

My second method is: I'm waiting for SEED on M5, and then go looking for S1 on m1, here olso,no need too much filter, and a very clear entry, and high success winning rates.

Another method I check these days, finding the "Monarch" on M5, and entering a trade on m1, by Seed, Cherry or AA.

Since I cut down my trades, to those methods only,There is a very big improvement in my results, and I am also a lot more relaxed during the day.

I hope I helped a little.

Moty,
thank you very much for your absolutely enlightening post. I cannot give you more than one "thumb up" altough I want to give you at least 10000 for that single massege. This is the quintessence of effortless, relaxed trading approach which I'm looking for as well. ^:)^ ^:)^ ^:)^

I think it can be a good starting point for us all who are struggeling with this realy simple strategies from time to time.

And I'm sure, Kyle, that you can make it back on the track again soon :-bd :-bd :-bd

Thank you again ;-)



Cheers
Michael

[Kyle]

I'm back,
Well, I never really left. I had a month away from trading apparently, but that ended up being a month watching the charts, backtesting a method that I have now adopted, and chatting on Skype.

Big thing I learned is that I suffer withdrawls when not at the charts for a period of time, so you guys have got me permanently

In the Skype trading room tonight, someone gently suggested to make sure we fill out our journals, otherwise we will not learn from our trading successes and mistakes, so I have started mine up again

My trade plan, as mentioned, has now changed and is much simpler in my own eyes, and I feel it suits my trading temperment quite well. It is not trading often, but selecting the right entries for me. In short, I will be identifying a W3 and applying a Fib over that wave, looking for a corrective W4 to retrace between the 23 and 61 Fib areas. Notice I said corrective, so it filters out a perceived impulse wave as such. This is the only arbitary part of this new plan. When in the target area, I wait patiently, stalking A.A's that appear and take those setups at 1% risk. If two setups fail within the one wave, then trading that wave is abandoned.
For trade management, it is pretty simple again. Leave SL where it is until you reach 1:1, then move SL to BE+1. From there, the stop is moved to trail AIMS boxes, after 5 red/blue candles in a row and on the other side of any fruit candles that appear. Simple in the end.
Here is my Trade Plan Template

Adams Apple Flow Chart.pdf

Now, on to task. I took one trade today, but there were three perfect setups. No complaints about the ones I didn't trade as I wasn't actively trading at that time. My son was here and was settling him in for the night (very windy here today and scared him). The two missed ones were 2:1 and 4:1, so in effect 6% left on the table for those who were at the charts.

Pic of the trade taken

2015-10-01_1850_1-15.png

Nice big Wave 3, and slowish correction into W4. notice the Zig-Zag nature of the up move and then a quiet time before the signal. That is not an impulse move, so I waited until the A.A. signal confirmed my entry point and went short. Almost no drawdown at all on the trade and merrily went south for me. As per the plan, I locked BE+1 at 1:1, then trailed candles after 5 reds in a row. I moved stop to above the fruit candle, which was two of my Stop Move requirements (trailing candle and above opp fruit) and the trade was stopped out there.

One simple stress free trade, and 10 minutes to earn a 3.73:1 trade. This one was trade 15 in my current series of T20 for Discipline Score, which currently sits at 13/15 since the beginning of September. I wont worry about putting all those past trades in the journal, but I will journal daily from now on.

During my month "off", I backtested this method and have some real good results. Once I catch back up with it, I will start a new thread with the results from it and screenshots. It may resonate with some others out in the AIMS world who may be struggling to find the method that fits them. I honestly feel this fits me B-)

Next week should see some more consistent time behind the trading screen. We hit Daylight Savings, so LO is an hour later for us, which allows me to get home from work and be ready in good time. This last week has had my son here in the holidays as well, so time has not been consistent. Over 3% for the week so far is pretty fantastic considering B-)

Bed time awaits. Will update a great Friday session tomorrow

[Kyle]

NFP day. Not much on the charts to be honest, but I did take one setup. Unfortunately, it was a rent, but you take them in order to get the good gains as well. Immy mentioned m5 with this trade as it had just finished a W4 and was on a W5 up. With that in mind, I decided that since the W4 looked rather impulsive and not corrective, the probabilities of it continuing on W5 were not very high and I took my m1 entry.

Not much more to be said, just a rent, but the week finished out nicely anyway with 2.2% profit on the week, and no hits to my DS, which I am hoping to hit 18/20, since I havealready taken two hits to it. Currently on 14/16.

2015-10-02_1813_1-16.png

[immy]

Keep going buddy! this is a really good approach! nice and relaxed on target!