Thomas's journal [trading The Hunt on H1]

[ElBarto]

Pedro and Immy, thank you for your input. You gave me some points to think about.
And, as my first batch of T20 just finished, it's a good time to revise my TP and include some changes, too.

[ElBarto]

First batch of T20 ends here: 306.0 P, 14.57 R, 16/20 DS.
Results added to the first post.

[immy]

First batch of T20 ends here: 306.0 P, 14.57 R, 16/20 DS.
Results added to the first post.

Well done and congratulations on becoming one the only few people in the world who have completed this challenge. Trading requires hard work, but not the act of trading rather activities like these. You have beaten the odds against you. you have broken the barriers and gone ever so closer towards becoming a consistently successful trader.

I'm inspired, your journal entries are objective and methodical. Even though you've turned a 15R profit and its a good thing, I'm the least bit interested in it. What I want to see is that all essential DS... you got 16, lets go for at least 18 next time. You can do it.

[ElBarto]

Well done and congratulations on becoming one the only few people in the world who have completed this challenge. Trading requires hard work, but not the act of trading rather activities like these. You have beaten the odds against you. you have broken the barriers and gone ever so closer towards becoming a consistently successful trader.

I'm inspired, your journal entries are objective and methodical. Even though you've turned a 15R profit and its a good thing, I'm the least bit interested in it. What I want to see is that all essential DS... you got 16, lets go for at least 18 next time. You can do it.

Your words mean a lot to me, Immy. Thank you.

I'm not quite happy with my DS, too. I think, 20 out of 20 is perfectly doable. I have everything written in my TP, I only need to stick to it.
My biggest enemy is my impatientness. If I'm not in a trade for some days, I'm looking for situations that look somehow tradeable. Then I tweak these in a way, that I can convince myself, that it's OK to place POs.
I know it, but I still do it.

On the other hand, I've concerns, that I'm too picky in taking my trades.
I've entered only four campaings in February, six in January, two in December and eight in November.
Out of these, some were due to the fact mentioned above.

Well, obviously a lot to work on.
I had to revise my TP, too, as there were some important points that needed some adjustments.
This one will now be my guide for the next five batches of T20s. Period.

[immy]

Hey Thomas...

thanks for your kind words. Truly I'm inspired. I'd like to urge the rest of us all to follow in your footprints. Keep methodical/objective journals like yours. You will learn in time that these journals posts, specially the one like above will have such a dramatic effect , a positive one, and will contribute towards your "future" you , that consistently successful trader , that you have setup out to become. You are on the right path mate. I know that its an amazing feeling ,a sense of achievement when you complete a batch. And then the next batch you build on it and from there there is one way to go. Upwards and forward... go go go go

[ElBarto]

Trade campaign 1/1

Summary

• Pair: USD/JPY
  Entry: Setup 1
  Risk: 52.2 P + 52.2 P = 104.4 P
  Exit: Box trail/Box trail
  Result: - 30.2 P - 30.2 P = - 60.4 P, - 0.58 R - 0.58 R = - 1.16 R
  DS: 1 [1/1]

About the campaign

• Pre-trade remarks:
  • H1, VL (1): Setup 1 into Wave 5 up
  • H1, HL (1): 1:1 for the first Entry
  • H1, HL (2): TZ1(a) (as Price didn't retrace more than 23.6 % of Wave 3, yet)
  • H1, HL (3): TZ1
  • H4, VL (1): Price within a Wave 3 up

• Post-trade remarks:
  • Regarding my TP, everything was okay with this campaign.
    But, looking at [H4], price made a strong move up. I should have waited for price to retrace closer to Purple Line on [H1] and watch out for a new signal there.

[ElBarto]

Trade campaign 2/1

Summary

• Pair: EUR/JPY
  Entry: Setup 2
  Risk: 30.4 P + 30.4 P = 60.8P
  Exit: TP(1:1)/Box trail
  Result: 30.5 P + 38.4 P = 68.9 P, 1 R + 1.26 R = 2.26 R
  DS: 1 [2/2]

About the campaign

• Pre-trade remarks:
  • H1, VL (1): Setup 2 into Wave 5 up
  • H1, HL (1): 1:1 for the first Entry
  • H1, HL (2): TZ1(a) (as Price didn't retrace more than 23.6 % of Wave 3, yet)
  • H1, HL (3): TZ1
  • H4, VL (1): Price within a Wave 3 up

• Post-trade remarks:
  • H1, HL (4): This Box low wasn't trailed, as it was formed during Asian Session. ATM is de-activated there.
  • TZ1 was hit on [H1] and price retraced there. Always interesting to see.

[immy]

Perfect. I traded it too. as might know from Skype chat... it was good.

[ElBarto]

Perfect. I traded it too. as might know from Skype chat... it was good.

I read that you took this entry, too, yes. It always feels good to see one of my trading ideas confirmed by a veteran.

[ElBarto]

Trade campaign 3/1

Summary

• Pair: EUR/GBP
  Entry: Setup 1
  Risk: 26.7 P + 26.7 P = 53.4 P
  Exit: TP(1:1)/Box trail
  Result: 25.5 P + 74.9 P = 100.4 P, 0.96 R + 2.81 R = 3.77 R
  DS: 1 [3/3]

About the campaign

• Pre-trade remarks:
  • H1, VL (1): Setup 1 into Wave 5 up
  • H1, HL (1): 1:1 for the first Entry
  • H1, HL (2): TZ1(a) (as Price didn't retrace more than 23.6 % of Wave 3, yet)
  • H1, HL (3): TZ1
  • H4, VL (1): Price within a Wave 3 up

• Post-trade remarks:
  • As I put the POs, AO on [H4] had already made its third peak within Wave 3. Thus, probability of success sunk.
    But, as there was no divergence, yet, I took the risk.