Brett's Journal - SETUP 1 - 1HR

[swerver]

G'day all.

Been almost here a week, and found some time to start a journal, I am already 4 trades in and will write these up shortly, but first a brief intro.

Asia Thailand is my time zone, so Frankfurt/London open is during lunch for me, so a great way to catch some good volatility after a snoozy morning
Japan opens 8am and I will checking in on the AUD and JPY pairs, or looking for GBP setups that may come into London session

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This will be new for me as I am counter trade trader using Harmonics, FIB structure and monthly pivots, and RSI Divergence on 4HR and DAILY TF's
I look at EW also but only as confluence for getting into the timing of a trade, very similar as you do here trading AIMS but rules are little different for trending and counter.
I use Tradingview as a platform for analysis, naked and manually drawn pattern, TL's etc..
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I will be running through the my first T20 on multiple Currency pairs and (GER30) and keeping it basic
Time frames are 1HR and would look for entries on 5/15, in some cases maybe no need to enter on Lower TF's and straight of the 1HR

I will be trading Setup 1's, and possible setup 2's if probability looks good for continuation as rules apply.
I will try to set and forget once opening a trade and its picked up the market, although my move from SL to BE will be discretionary on the strength of the breakout. I will try let them run as much as possible.

**I am very familiar with FIBS, and candle stick patterns, so will apply the inside bars and pin bars as possible confluence for entries.
While I will aim for TZ1, I may have a slightly smaller or larger TP but always looking for RR 1:1 as the bare minimum.

What will I find hard?
Not opening a trade when you are closing a trade. Trend vs Counter!

What do i want out of this?
1.Learn new tools and strategy (Not because what I do now isn't working, but a tool to enhance the length of a trend after a counter (If that makes sense)
2. A full system already back tested and used in all markets - tick
3. A group of like minded traders that meet daily, discuss and have fun - tick

Look forward to seeing you in Skype more often as time frees up.

Cheers
-Brett

[immy]

Congratulations on starting your journal. Its a great way to improve your trading and in many ways it is the sole reason for trading success.

Thank you for your introduction much appreciated. I wish you all the best and looking forward to seeing your trades

cheers

[swerver]

Thanks Immy, content and setup is top notch.
Looking forward to mastering the setup and moving into the other area of your strategies too (Hunt mainly)

The tradingview platform is basically a journal of your trades, cant live without it!
My private journal (ideas as they call it) in there has over 1000 trades, its awesome to look back as it has a play button from day to show how your projections turned out. This is no different, just a bit more effort attaching stuff

[immy]

http://www.myfxbook.com is interesting too.

here is my news trading account.

https://www.myfxbook.com/members/yousaf ... ve/1419170

[swerver]

Great stuff, congrats on 100%

Additional trade management rules I didn't mention
2% risk per trade calculated a few pips below aims box (amount depends slightly on box size.)
Can have 5 trades open with total risk 10% at any one time - This is very normal for me, most people cant handle to see draw-down, its just a number, trust your system.
No more the 2 correlating trades, must be diversified pairs etc.
Not going to mention pips, just ROI% as thats all that matters.
News generally is not a big factor for me for LT trades, however we will be noting red news events when taking trades for ST

Trade 1
5/1min
A trade I took before deciding on 1HR and executing on 15 or 1HR but will note as T1 as its about the setup.
Setup 1
The first TL bounce seemed a nice stop for wave 4, followed by some nice red candle stick wick rejection off the TL's showing momentum as the Blue dots came
entry after second dot from the 1min (pasted over photo grr)
2R
4% ROI

[swerver]

Trade 2
Setup1 on the 1HR
S2 on the 15 minute - took break after red dot came after pink was shown
The AIMS box was smaller, less risk and purple outside the BOX
3R
6% ROI

[swerver]

T2 pic

Sorry wrong screen shot
UJ it was, now the commentary with aid the visual

[swerver]

T3
S1 on the 1HR
Nice pause and bullish flag forming for a move up
open gator took after second blue dot on the 1HR
Execution on 15min
Break of TL on W4 UP confluence with AIMS box top PO
AO crossed
2R
4%ROI

[swerver]

S0 - needed confluence for entry.
Entry off the 1HR
W4 TL break below AIMS box for confluence
Moved to BE at 1R
Tried for a little much here and went out - trade not monitored.
Trade finished @ BE
0% ROI

[swerver]

S1
Glanced at the 1HR
Took this off the 15 as looked perfect entry
Wave 3 complete
AO crossing
First blue dot with nice tight low risk BOX only 8 pips from memory
FIB tool from last high on the 1HR showed retracement skipped through 382
paused on 50 so 618 was intended target
Again I had to go out so could not monitor
Moved to BE but trade completed to TP
Its a shame I went out, this was a 7R right to the 886 where its currently consolidating
R2
4%ROI