Andrew's Journal

[Andreww]

Hi everyone,
I have been trading for a long time and although I have only traded this system for a very short period I have used five bar fractals for a number of years. I trade another system, now long term only, fairly successfully and it was there I first discussed the money management side of trading with Immy.
When I joined I said I wouldn't start a journal however Immy has persuaded me otherwise so what do I do. I want to add value and I certainly cannot add to the excellent work done by Grant and the other Aimsters. My theme will be how to avoid being one of the 95% who lose at this game by understanding the human frailties that stand between us and success.

Happy New Year everyone,

Andrew

[immy]

Andrew!

I'm delighted that you've started your journal. Another Gigantic Dragon in our Den. Looking forward to it!

Happy New Year! Lets have the best year ever!

Cheers!!!

[PaulF]

Hi Andrew,

What happened to your New Year resolution? I hope you find the time to maintain a journal, I know I'll learn loads from you.

BobbyF

[Andreww]

A few things to think about. I have noticed lots of folk worrying about what wave they are in. Looking for indies that count waves and all the rest.
I will let you into my secret for resolving the problem. Most of the time I haven't got a clue but I can trade the system.
The set up, if we follow it every time we trade puts us in the right place if we hunt trades instead of waiting for set ups there will be one result
More this week I have been a bit lazy.

Andrew

[PaulF]

Great stuff, can't wait to hear your thoughts Andrew.

[Andreww]

Thought for tomorrow. We are technical traders but in the end fundamentals move the market around. EU has been faffing around all week incredibly frustrating!
Today we had EU news that should have been positive but the market is still worried about Greece. Tomorrow we have maybe a bit of news around the Greek issue +NFP.
I will be trading after NFP - if you trade in the morning watch out for stop hitting spikes when news or rumour comes out of EU meetings.

Andrew

[Andreww]

The way I trade our set ups or at least part of the methods I use.
I have been trading for a long time and yes you do develop a feel for the markets and some of my trades or more intuitive than indicator driven. Immie called me a maverick trader once and that is probably more than half true. However, I am not going to talk about those trades here because I can't teach them they do however have reasoning behind them.
There are an awful lot of systems on the market that don't work and a much smaller number that do this is one of the best.
I have use fractals for years to define entries and add ons. Fractals are the structure of Elliott Wave so I was trading the Wave before I knew it .
Five months into this forum how am I doing. My worst week I was up 1% my best just under 15%. overall I outperform any investment vehicle available to the ordinary guy in the street but sometimes I am only right 50% of the time.
Back to our old friend money management. I trade 5/1min TF, 15 1hr, 4hr and when there is a set up Daily. The rule is cut your losses and have the nerve to let your winners run. Big one trade with the trend. If the market is not giving clear trends newbies do something else for the day don't get sucked into range trading until you have a lot of experience.
But what is the trend. A nice move on the 5 can be only a blip on the daily if you can see it at all.
Next instalment stop losses and all that.
This is the stuff I promised I would waffle on about when I joined. Everyone please feel free to chip in.

Andrew

[Den]

Hi Andrew, Where in Essex do you live?

[Andreww]

Westcliff Dennis

[Den]

wow small world