Michael80 Trading Journal

[Michael80]

ok, got it Immy. Thanks for clearing up things and the info. Cheers

[Michael80]

T8, Batch 1 of T20
Trade 8/20

AUDUSD, Buy, 19/10/16.
Initial SL: 32pips

Result: Break-even, 0R

H1 PO Buy. Alligator sleep. Away from Purple. AO close to ZL.
H4 Alligator awake, away from purple. Potential continuing W3.
Trade management plan: Trail SL using H1 aims level box.
Exit plan: Either TP 2R or AO Divergence on H4
*This buy triggered earlier than expected. Aus employment change and unemployment rate will be released tomorrow 8.30am local time.

2016-10-19 (7).png

Initial SL moved to BE just before the news release. Holding the whole position. After news release, price then hit my BE stop loss, resulted in tiny profit, which is equivalent to BE (nothing).

2016-10-20.png

Post-trade thoughts: -

Trade management: Same as previous EJ trade, the approach was aggressive, most probably arise from greed/gambling mentality, in which with expectation that news will carry the price higher to hit a 2R target profit.
Conclusion: A conservative approach should have been taken by taking off partial profit before news release which would have given the chance of taking partial profit at above 1R. A mistake - I didn't trail the SL using H1 AIMS box level as planned.

*I will take the conservative approach trade management plan for the rest of the T20 trades. In the meantime, I will spend more time reading and researching in this forum on the mental and trade management aspect of trading.

[immy]

NOW THAT is an Awesome Trade ... we were just talking about it in the skype group

[Jasmien]

Very nice Michael )

[Michael80]

Thanks Immy and Jasmien. But I have problem with my trade management process, hence both EJ and AU ended with nothing. I will update my journal and record my thoughts accordingly.

[Michael80]

T9, Batch 1 of T20

USDCHF, Buy, 20/10/16.
Initial SL: 32pips

Result: -32pips, -1R

H4 PO Buy. Alligator sleep then slightly open. Away from Purple. AO close to ZL.
D1 Alligator awake, away from purple.
Trade management plan: Trail SL using H4 aims level box.
Exit plan: TP 2R
*Maybe the entry is too early? There are Euro Red flag news due to release today.

2016-10-20 (3).png

Stopped out, price snapped back after touching entry price. Not a good entry as there are other aims level to the left that are tight. In addition, the AO did not have fresh cross.

T9. 20.10.16 USDCHF H4 S1 End.png

[immy]

Check the Flow Chart Rules
1. Levels to the left are too close,
2. AO is not a fresh cross though close to ZL.

morechances of price being hit on its head and knocked down. I would keep my longs above the D1 box highs.

[Michael80]

Thanks for correcting me Immy. I will read the Setup ebook and flowchart again.

[Michael80]

T10, Batch 1 of T20

AUDNZD, Sell, 20/10/16.
Initial SL: 18pips

Result: Breakeven, 0R

M15 Sell. Alligator sleep. Away from Purple. AO close to ZL, but haven't cross.
H1 Alligator awake, away from purple.
Trade management plan: Trail SL using M15 aims level box.
Exit plan: TP 29pips (strong support level)

Short entered at purple line drawn. Not a good entry because was entered based on the chart seen on mobile, and AO have not yet cross.
DS = 5/10

T10. 20.10.16 AUDNZD M15 S1 Start.png

Manual close after black dot appear, ended with a tiny loss, equivalent to breakeven.

T10. 20.10.16 AUDNZD M15 S1 End.png

[Michael80]

T11, Batch 1 of T20

EURJPY, Sell, 21/10/16.
Initial SL: 25pips

Result: Win, 0.6R

M5 Sell. Alligator sleep. Away from Purple. AO close to ZL, but haven't cross.
H15 Alligator awake, away from purple.
H1 Seed (Although haven't studied the seed strategy thoroughly, assumed it is seed)
Trade management plan: Black diamond
Exit plan: TZ2 or black diamond.

2016-10-21.png

2016-10-21 (2).png

2016-10-21 (3).png

Emotional check:
Improved a little bit, I am not so attached with the trade that much this time as my mind told me there is no point looking at the chart because the outcome will be random. As long I have my trade management plan in place and act according to it, my result will be reflected by the edge of the system at the end of the T20 batch.

Discipline check, is it according to plan?
Entry: Yes
Trade management: Yes
Exit: Yes

DS = 1

This trade is the last trade of the week.