MaxZen Journal - the newbies journey

[immy]

Hi

Suppose you're long, and there is a new aims level that is higher than the previous, I'd move my SL to the new level and that is how we proceed at times it results in a smaller loser other times, we keep trailing the aims levels and keep locking in profits until it is hit. There has to be a mechanism to lock in profits unless you have a set Target point 2 or 3R's away and you have decided to take either -1 or Plus 3. that would work.

all the best!

ps: If you are not going to watch Tom Hanks' movie this weekend then you are not in my friends list ...

[MaxZen]

Hi

Suppose you're long, and there is a new aims level that is higher than the previous, I'd move my SL to the new level and that is how we proceed at times it results in a smaller loser other times, we keep trailing the aims levels and keep locking in profits until it is hit. There has to be a mechanism to lock in profits unless you have a set Target point 2 or 3R's away and you have decided to take either -1 or Plus 3. that would work.

all the best!

ps: If you are not going to watch Tom Hanks' movie this weekend then you are not in my friends list ...

In your long scenario - would you move the SL a second time to a lower aims level if the next one (after your described higher) was lower than the last but higher than the original?

PS - I'm off to Spain for the week so no cinema for me this weekend B-)

[MaxZen]

Having read some of Grant's journal this weekend I've decided to follow his lead and document in Excel

[MaxZen]

I've been away for 12 days on work so no time for trading unfortunately..

My last trade was at airport on the 1st Dec ##

The entry wasn't a complete 'gator cross' but it was definitely dozing after a retracement from the day's trend. SL was 9 pips and went nowhere near this. I was monitoring the 15m and 1h and both looked good so kept 50% of trade open after 9 pips ere achieved (pic shows second half of trade. I closed on cross of red with 23.3 pips on the second half of trade.

[MaxZen]

My first day back from 12 days in Spain.

First trade: Eur/Usd continued it's strong bull trend today but I wasn't around for most of it to make green pips..

I entered at 18:15 (16:15 GMT) with 16.8 SL. I closed 100% of trade with 16.8 pips just below the R3 pivot line.

.

16.8 pips



Having looked at Gbp/Usd at the end of the day, I wish I had been around for the fractal breakout near London open and then the 2/3/4 bounces on 5m charts..

[MaxZen]

First trade of day. I had missed the true sleeping gator but saw the downtrend still prevailing from Asia session. AO was not near 0 either so I suspect many would skip the trade.

SL of 17.7 pips. 50% closed at 1:1, the remainder closed on cross of ref MA which was just 1 pip beyond the initial close.

+18.2 pips



Trade two was rent. Gbp/Usd was in channel all GMT night and continued in London session. Straddled entry opened to the upside and the price bounced for 3 hours before breaking up, followed by a massive pullback.

-22 pips



Trade 3 was more rent. The entry looked good at 14:05 with SL of 11.6 pips. I missed my 1:1 TP by 0.6 pips and was stopped out at 15:35.

-11.6 pips

[MaxZen]

Monday started with paying rent. The Ger30 had flatlined for 2.5 hours. I did not straddle because my downside order would have been on the wrong side of the purple. SL was just 4 pips.



-4 pips

The next trade was fun I traded the 1m on this which is a first for me. SL was 12 pips and 50% was closed at +12 after a bit of a wait (but clear signs throughout that the trend would continue). I let the remaining 50% run and closed just above previous day low. The price bounced back up shortly after and would have stopped me out on cross of green with less green pips than I manually closed with



+12 pips
+33.8 pips
= +22.9 pips

Next trade was quick a simple. UJ gattor crossed, eWaves was at 0 and AIMs box was tight. I could have straddled this one I guess (advice?) because the upside order would have opened on the right side of purple. But I didn't and the downside trade was triggered with a clean 100% close at 8.1 pips.



+8.1 pips

Final trade was another 1m GU. The gatter slept and eWaves was orange. SL was 6.2 pips and target achieved in 25 mins after a couple of very closed calls near my SL



+6.2 pips

[MaxZen]

Updated Excel sheet.



A good day trading today (15th) too so a positive end to T20. Will post later today

[immy]

Keep going! Keep going!

[MaxZen]

First trade was a bounced gattor as opposed to a sleeper. SL was 11 pips, 50% closed after a news burst. Other 50% closed at just a touch over BE on cross of red ma.



+11.4 pips

A lengthily trade followed on GER30. AIMs box was tiny - just 3 pips - so I placed my entry just above the previous (higher) box creating a SL of 5.5 pips. 50% closed in 2.5 hours (very slow market..) and the remainder stopped out at 7.7 pips some hours later. I used previous AIMs level for the seconf half of trade here - I'm still finding my feet with trailing stops - and barely achieved better results than closing on red MA.



+6.6 pips

The next two trades were rent, both on GU in quick succession.. both valid entries with sleep gator and eWave on zero. -10.6 and -13 pips respectively...



-10.6 pips
-13 pips

Entry on EU 1m was on a sleeping gattor and eWaves at zero. I shouldn't really have entered this trade because I placed the order on an earlier AIMs level but had to take a call which led me to going to another room and getting distracted.. Once it was open and I was watching I followed price action and closed with a happy +33.6 pips from a 21 pip SL.



+33.6 pips


Penultimate trade was a top up of EU on 1m. SL of 9.4 pips and closed +35.7 pips on touch of green.




+35.7 pips

Final trade was on AU 1m and paid rent.. The AIMS level at entry was so tiny (3.6 pips) that I used the previous level giving me a SL of 11.6 pips. Entry seems valid to me but it didn't go my way.



-11.6 pips.

A great day all in all for learning (even if net was -1%) and a nice opener of +11.4 pips to close my first T20 The grand total for T20:1 was +5.4% and 20.15 pips. I have been writing my journal with +/- pips but it's obviously the % that counts



Observations so far:

I'm trading too much. I consider this a learning period so want to get as much exposure as possible whilst I can. I also feel like I learn by doing - by getting a sense of when to enter or pass - so my intention is to trim down the volume as my experience grows.

I am still finding my feet for trailing the second half of trades. I've tried green and red crosses plus previous AIMs level but have not had enough chart time to settle yet. Any advice would be very welcome

I'm enjoying this!

I am currently trading 0.02 lots - so peanuts. I plan to ramp up in T20:2 to a massive 0.04 lots When I get to T20:5 (i.e. a hundred trades) I will consider if I am ready to trade a true 1% of account.

And now for T20:2 (party)