Michael80 Trading Journal

[immy]

Now drag and drop this trade from history onto your chart and post a pic of it on h1 .. and see what is the main H1 filter you missed out?

In my last night's video, I talked about our long trade on EUR/JPY, how and why we hit our target area on this long trade which happens to be a few bars before your entry.

[Michael80]

Hmm... I am not sure but is it that when I took the trade, the H1 is already in W5, and the hunt members took long position based on the start of W5?

2016-10-27 (7).png

[immy]

if you Draw target zone on your chart above, you'll its hit TZ1 bounced off it. So you gotta see what is the location of your Trade Setup within the 5XHTF Setup. The position of your signal/setup within the wave on HTF. Having said that, The MOST important lesson here is DS0. I hope you will understand the meaning of discipline at the end of your 5 batches. e.g. here you decided to "willingly" break your rules and take a trade on m15 knowing that you are breaking your rules an knowing that your objective is to achieve DS1 for all 100 trades... This is the the little mind trick that we have to overcome. Discipline means 100% discipline.

I quote you
"Although I said before that I would take H1 trade only, but I can't resist this M15 entry opportunity."

Read the above and have a think...

another factor in terms of timing is the "time" If there aren't any news expected usually tokyo session is quite.

The two points I highlighted might help you greatly LATER once you have understand what is discipline in terms of Trading.

[Michael80]

Thanks for the advise Immy, really appreciated it.

[Michael80]

After deciding to trade the H1 chart and limit the pairs for trade setups to 10 pairs, the trade opportunity has declined significantly.

T16, Batch 1 of T20

NZDUSD, Buy, 07/11/16.
Initial SL: 40pips

Result: BE, 0R

H1 Buy. Alligator sleep. Away from Purple. AO close to ZL.
H4 Alligator awake, away from purple.
Trade management: Move to BE after reaching 1R.
Exit plan: 2R

Price reached 1R, stop loss moved to BE before US election result released. Price went up as high as approximately 72pips.

T16. 07.11.16 NZDUSD H1 S1 Start & End.png

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

DS = 100%

[immy]

After deciding to trade the H1 chart and limit the pairs for trade setups to 10 pairs, the trade opportunity has declined significantly.

T16, Batch 1 of T20

NZDUSD, Buy, 07/11/16.
Initial SL: 40pips

Result: BE, 0R

H1 Buy. Alligator sleep. Away from Purple. AO close to ZL.
H4 Alligator awake, away from purple.
Trade management: Move to BE after reaching 1R.
Exit plan: 2R

Price reached 1R, stop loss moved to BE before US election result released. Price went up as high as approximately 72pips.
T16. 07.11.16 NZDUSD H1 S1 Start & End.png

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

DS = 100%

My thoughts about this lovely setup ...

[bbvideo=1280,720]https://vimeo.com/191027599[/bbvideo]