Nothing on Monday.
Tuesday 17th January. Trade 1, +0.1:
(An admission: note that the first red dot appeared when the trade was at about +0.5. I moved the stop loss to break even at this point and let it run to see if things picked up. )
PaulF's Journal
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PaulF
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Re: BobbyF's Journal
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Grant
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Re: BobbyF's Journal
Hi Bobby,
Nice trading...
reading through your trades (and everyone elses) i think i may need to take more notice...
i took that trade for a small rent, from the low of that move there were 6 up candles so i trailed candles and got tagged...
keep it up...
Grant
Nice trading...
reading through your trades (and everyone elses) i think i may need to take more notice...
i took that trade for a small rent, from the low of that move there were 6 up candles so i trailed candles and got tagged...
keep it up...
Grant
success = patience + discipline - greed
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PaulF
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Re: BobbyF's Journal
Grant - thanks for your encouragement!
Trade 2: +16.4. Well this was pure stupidity and good luck as I didn't notice red news due at 10am. When it spiked up I settled for what I had rather than use the normal management rules.
Trade 2: +16.4. Well this was pure stupidity and good luck as I didn't notice red news due at 10am. When it spiked up I settled for what I had rather than use the normal management rules.
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Grant
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Re: BobbyF's Journal
You can make your own luck Bobby,
again i got tagged by the candle trail for a small rent (tw&tting thing)...
cheers
Grant
again i got tagged by the candle trail for a small rent (tw&tting thing)...
cheers
Grant
success = patience + discipline - greed
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PaulF
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Re: BobbyF's Journal
Third trade: -0.1. I wasn't keen on trading into the BRN and in hindsight should have taken whatever was available when it appeared to start reversing.
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PaulF
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Re: BobbyF's Journal
Trade 4: + 1.3. Well this feels like the story of the bloody day, breakout and them retracement. It made me think about something though so I've got a question to ask later on....
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PaulF
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Re: BobbyF's Journal
Trade 5, -6.4. Horrible.
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msk185
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Re: BobbyF's Journal
Hi Bobby
I saw this setup but saw 5 min as near the end of potential wave 4 and 1 min as having divergence on AO so declined.
Hope this helps,
Mike
I saw this setup but saw 5 min as near the end of potential wave 4 and 1 min as having divergence on AO so declined.
Hope this helps,
Mike
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immy
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Re: BobbyF's Journal
msk185 wrote:Hi Bobby
I saw this setup but saw 5 min as near the end of potential wave 4 and 1 min as having divergence on AO so declined.
Hope this helps,
Mike
Hi Mike!
Great logic for filtering that trade. I would have and have done the same! cheers
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
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PaulF
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Re: BobbyF's Journal
Hi guys
I don't believe a word of this Elliott Wave nonsense (sorry!), but the divergence makes sense.
Here's something that occurred to me today. When I place a trade I check the M5 AIMS level and use that as the basis for the order if it's not at least 4 pips away from the M1 AIMS level.
But what I do (actually, what the script I've written does....) is just to look at the drawn dark grey area on the M5 chart. I don't check that this is a "confirmed" AIMS level in the sense of making sure that there are two closed candles to the right of the high candle with lower highs. [All this is for a long trade.]
Have I been a little negligent here? Should I be checking the distance to the last properly confirmed M5 AIMS level ?
BobbyF
I don't believe a word of this Elliott Wave nonsense (sorry!), but the divergence makes sense.
Here's something that occurred to me today. When I place a trade I check the M5 AIMS level and use that as the basis for the order if it's not at least 4 pips away from the M1 AIMS level.
But what I do (actually, what the script I've written does....) is just to look at the drawn dark grey area on the M5 chart. I don't check that this is a "confirmed" AIMS level in the sense of making sure that there are two closed candles to the right of the high candle with lower highs. [All this is for a long trade.]
Have I been a little negligent here? Should I be checking the distance to the last properly confirmed M5 AIMS level ?
BobbyF