Mickey's Journal

[kiravon]

Trade 11 +2%, +2%, +1.5% =4.5% DS 1

7c.JPG

[Seabreeze]

Well done Mickey
You captured some nice moves there today

[kiravon]

Enough is never enough!


Thanks John

I made 3% today on GBPUSD when as we can see 6%
was available. Why do I feel gutted?

What happened to all that talk about my glass being half
full?

I feel my glass is well and truly half empty today

I was trailing the momentum but on 12 pip bars obviously
I wasn't going to give all that back so I moved Stop up
to about the right place and was only just stopped out
before price then resumed the move for another 3%

If I had been stopped for 3% and then the price
simply reversed I would have been delighted
but we can never get the trailing stop perfect everytime

either we will give too much back or, as in this
case the stop will be a tad too tight and we
are out of the trade prematurely. The expression
'occupational hazard' comes to mind.

but I've just gone in again so hopefully if I can be
4% up on the day that will be some consolation.

What am I saying! That will be brilliant!

I think I maybe should have a little bit more appreciation
for some of these amazing moves

with the positive anticipation of more to come

Prof John Grey makes that point in that 'Secret' movie
that appreciation attracts a better response

but I think he was referring to your mate
not the market

but who knows - appreciation is certainly a
good quality to have, along with contentment

1) -1% DS 1
2) +1.5% DS 1
3) -1%, +7%, =+6% DS 0
4) BE DS 1
5) BE DS 1
6) -0.5% DS 1
7) -1% DS 1
8) BE DS 1
9) -1% DS 1
10) +7%, +3% = +10% DS 1
11) +2%, +2%, +1.5% =+4.5% DS 1
12) +3% DS 1

Trade 12 +3% DS 1

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[wiseambitions]

It's so tough at times knowing when to say "that's enough" and to take the winnings.

I'm influenced by such things as AO changing colour, divergence in the AO, price coming back to Green Line, my white line going through the green, QQE, or even the time, because I notice so often how things are affected at the top of the hour

We can't win 'em all, but the important thing is the winnings must be bigger in total than the losing trades.

And yes, be grateful, for small mercies even, because we know the power of compounding 1%, etc with constancy.

[kiravon]

Hello Ray

I'm more concerned about your repetitive strain injury
57 trades today!!!!

If I tried that I'd be queuing at the soup kitchen by now!

but it's very interesting what you say - on the hour?
I'll watch out for that.

I've actually been monitoring GBPUSD all day. +3% this morning,
then a BE and last few hours +3.5%, +3.5% +1% and BE
+11% altogether

It's strange it's been stops and starts but I could read
something in the market today until in the end it
just couldn't push through resistance but at close of
US market here at 1am that's not a big surprise

Sometimes I just get this feeling it's itching to make
a move. it was like that today. it is sort of being
in tune with the market.

other times just completely out of sync and I'm
really working on making a sharp distinction
between the two frames of mind, and if nothing's
making sense then just leave it - and be strict!

9d.JPG

1) -1% DS 1
2) +1.5% DS 1
3) -1%, +7%, =+6% DS 0
4) BE DS 1
5) BE DS 1
6) -0.5% DS 1
7) -1% DS 1
8) BE DS 1
9) -1% DS 1
10) +7%, +3% = +10% DS 1
11) +2%, +2%, +1.5% =+5.5% DS 1
12) +3% DS 1
13) BE DS 1
14) +3.5%,+3.5%, +1% DS 1
+30.5% DS 13/14

[kiravon]

Trade 15 +1.5% DS 1
I wanted to go to bed but a 90 pip bar on AUSUSD M30 caught my eye.....

9e.JPG

[kiravon]

Trade 16 -1% DS 1
All Winners are Outstanding successes!
All Break Evens are Beautiful as they are not rents
All Rents are low cost Reconnaissance to sound out the market


It's a beautiful philosophy!

I'm splitting my trade across two computers and two accounts
same entry always but varied Stops
one account tighter stop, the other account stops have more room to breath

My profit on each account is neck and neck

There is NO optimum Stop Loss Strategy

But by watching the same trade and your Stops on two screens
you are training your mind! The two screen/two trades is
an absolutely awesome way to trade

it started by accident, it just takes so much pressure off

If your tighter Stop seems threatened you relax because your
other stops beyond swing high/low is probably safe

I'm finding so much more confidence now that often I don't lose
on either account

Learning how to nonchalantly move Stops around during the
trade is such an amazing skill to learn

its literally a million dollar skill

Its the dance that Immy describes!( in part at least)

I thoroughly recommend the two account method, demo is fine
Its really transformed my trading mentality

when the M30 has clear direction wait for the PBs on the M5
to enter on momentum move in HTF direction

You can keep going in all day long

(see Immy's Simple but Powerful Strategy thread )

There isn't a better system out there!

Whatever your strategy or indicators of choice, the success
comes from familiarity with your Strategy rather than
the actual strategy itself.

Sometimes I just spend all day just watching a currency
even when I;m not trading, just to see how often I;m
guessing right as to what price is doing

1) -1% DS 1
2) +1.5% DS 1
3) -1%, +7%, =+6% DS 0
4) BE DS 1
5) BE DS 1
6) -0.5% DS 1
7) -1% DS 1
8) BE DS 1
9) -1% DS 1
10) +7%, +3% = +10% DS 1
11) +2%, +2%, +1.5% =+5.5% DS 1
12) +3% DS 1
13) BE DS 1
14) +3.5%,+3.5%, +1% DS 1
15) +1.5% DS 1
16) -1% DS 1

10.jpg

[wiseambitions]

I agree I do seem to take a lot of trades

88 since Monday morning until 1030 today........

anyway it pays

Yes this about hour changes is something I have noticed as I believe a lot of the algorithms on currency cause activity at certain times of the clock. 1315 is another time I have noticed, and I believe that moment has cropped up in conversations before especially when the naughty boys were fixing forex deals. Obviously 0800 and 1430 are exceptionally important times to be aware of, and so are other times when economic news releasing brings what Immy would call "new incoming information"
Indeed there are some strategies (but I don't think they work!) which say things like, if momentum and CCI etc at say 0600 are <x or >y etc do this or that ......

[wiseambitions]

1030 GMT and thereafter - there was a break of h4 on my charts. Why didn't I just sell sell and sell?

I firmly believe that breaks of aims on the H4 timeframe, whether at support or resistance levels, are some of the strongest signals this system gives us

UK shares are also weak today

Always trying to analyse what I'm doing right and what I'm doing wrong, anyway it's the end result that counts, I keep telling myself that all the other work I do is a distraction to this malarkey which is many times more profitable...........

[kiravon]

Choose your friends wisely!

I thought I would look seriously into what Ray has observed about H4
this week.

You know, this is the thing about trading, you don't have to be a 'Jack of all trades'
you can just find your niche and really just keep honing your skills on that
one strategy.

So for example, if you see AIMS breaking at Support or Resistance on H4 then
wait for the break on the H1 in that direction

and you will probably not have to do anything else at all to make a lot of money
trading Forex.

so I was looking at the DAX H1 as the LTF to the DAX H4 although it's not
at Support or Resistance yet,

I use a dual screen comparison between two of the very best brokers I know,
IC Markets and Hotforex and their server time is identical

but oh dear...

just look at the indicators. Ewave and QQE ADV

on the two broker's charts they bare little relation to each other!

So I'm waiting for a cross down through 50 line on QQE ADV on
IC Markets but on Hotforex it's still under the 50 line!! which
kinda makes a nonsense of using the indicator.

Ewaves shows a choice of either one or two peaks and you
are in different waves according to which broker you use?

Along with AIMS the top rated Mentor on ForexPeaceArmy
is James Edwards. This is amazing as his last webinar he
was asking $14,000 to join his service.

His system frankly is not good, based on currency strength
but he candidly admits the system isn't the main thing anyway.
His strength is in his teaching ability, his videos are very clear
and he is extremely honest and straightforward. but he is a
successful trader managing a multi million dollar fund. He is
definitely worth listening to.

He always stresses that candlestick patterns and indicators
are extremely unreliable as they vary considerably from broker
to broker.

and yet curiously I've done quite well trusting in both as have
many others on this site.

This post isn't therefore intended to be negative, rather
curious, that an approach that has been thoroughly discredited
can still be profitable

PS One positive idea might be to use broker comparisons as a
filter, so only trade the setups where frequently conflicting brokers
actually agree. that does sound quite a shrewd idea, whether profitable
is another matter

so its really food for thought

dax H1.jpg

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