Mickey's Journal

[kiravon]

My Audjpy trade from Friday progressing well, a 1:6 RR with Trailing Stop

The target isn't intended to be ambitious, its the nearest resistance I could find.

I have a PO add on at next break of AIMS

[kiravon]

The audjpy won nicely but reversed immediately I added on
- not exactly first time this has happened!

The euraud is actually coming to life!

ok, it didn't do exactly what was supposed to but now
in hindsight we notice the impulsive moves down were,
in bars - 3,5,1

it didn't occur to me that bears might be running out of steam

Now price has crossed up over both 30 and 50 impulsively and
it may retest one or the other before moving up.

Then a real chance of being in at the start of a new trend

but we'll see



and what of Gold?

its symmetrical so far

no setup but we can anticipate the two most likely scenarios

it might retest trendline and bounce off 30 and continue move down

or break both trendline and 30 and resistance will become support
as we stay above the ascending 30

just need to stay in tune with how plot unfolds

[kiravon]

Actually, the truth is I don't really know what I'm doing

I don't usually know what I've done or have any clue why
I did it

and whilst that sounds a bit like bravado its also true
of many quite profitable traders.

Many have come to realize they need to keep better
records to help with their analysis

I certainly do!

I find account history on MT4 bewildering at times and
find myself wondering who took all those trades?

especially who took all the losing ones!

I find it helpful to cut and paste to a spreadsheet

I can see what I did on any given day - of course
more information inc DS is essential but this is
a very helpful supplement.

and a good day yesterday 3% up with all trades
carried over to next week.

and something on affirmations. - this is very
subjective. No one can possibly tell you the
best affirmations

only you can know what really resonates with you.

But keep it very simple and brief

For me I can make 3% and more a day quite easily now

but I can easily sink into the quicksand of negativity

and that is directly measurable in my trading results

Bad psychology = Rents and plenty of them!

and no, that is not an affirmation, its negative.

So I simply need to be reminded how simple trading can be
providing I keep the right mindset

also I read recently research has confirmed that regarding
affirmations 'Less is more'

spending an hour reciting 20 affirmations every morning and night
may not be very effective

but vividly visualizing and repeating one or two well chosen affirmations
briefly on a weekly basis is far more powerful providing they really resonate
with you

a bit counter intuitive

I have mine on my desktop and I don't make a big deal out of it

I already know trading is easy and its all in the mind

I just need to ensure I don't lose sight of that.

account history.PNG

affirmations.JPG

[kiravon]

Watched an interesting video last night on candle counting -

when you have 7, 8 or more consecutive candles, especially
on weekly, and they've reached a major area of S/R -

that is a very good time to be looking for reversals!
( not mentioned in video but far more powerful if coupled
with divergence )

Its not a system but just another tool in the toolbox

for example 8 bullish candles hits a resistance zone where
there is divergence -

If, on Daily timeframe what follows is a break of AIMS to the downside
and cross of zero down on Ewaves - how much more compelling
would such a setup be?

[kiravon]

Something I've been able to do for years is make quite a
lot on a basket of currencies. When the market starts moving
everything moves.

its really very easy

What is really not easy is getting out when you're ahead.

There is a lot of psychology and possible ego involved with this.

I invariably give all the gains back for fear I could make double
or treble what I had already made, especially when the trend
seems to be continuing!

So how do you learn to pull the plug prematurely?

I don't know, it isn't easy.

But I thought I would do it, literally for the very first time
to post up on this forum - so that was really my only incentive -
to be able to post on a forum that I closed all trades -
regardless of how much more pips was on the table

But I had to have some rationale, however irrational
the strategy seemed.

Actually it isn't irrational, its just not very professional
sounding.

So I was looking to make at least 2% in total from the whole
basket, but when exactly close all?

Well. trading the H1 I switched to M5 when I made 2%
and made a commitment to myself that I would close
everything at the first sign of a PAR reversing to
other side of price.

It worked well. The move on all the currencies did
come to an end about then, at least for the time being

for a total of around 200 pips and 2.5% gain

I actually wanted to hold out for 3%

but this is really what losing is all about

Greed could have cost me the lot!

and what is so bad about making 2.5% a day?

[kiravon]

Well some of you know about this Law of attraction stuff
and some of you will dismiss it as aery faery nonsense

but my new affirmation seems to be working well
without any recitations or anything else at all.

I've found a new way of looking at AIMS that really works
for me - more than anything I've tried last four years, and
I've tried a lot of permutations. It now seems to win
almost all the time!

What are the rules? I don't think that will really help
anyone. There are rules, but rules, important though
they are don't make profits

Immy said it well, that AIMS is his way of making sense
of the market, the lens through which he views it so
to speak

It doesn't work for everyone. Neither the rules nor
the indicators make anyone any money in themselves.
It isn't quite that simple

Maybe it should be, but it isn't

But you may experience that beautiful moment when it
does all fall into place, when you just get a feel for
the market and it becomes effortless

when you get that feeling that you just cannot fail
(rents excepted - rents isn't failing anymore than
paying spreads and commission is failing, they are simply
our business expenses)

I want to record my recent insight for my own reference -
in case I forget, but its a bit involved so maybe tomorrow

in the meantime I also want to record here my version
of Steve Primo's Strategy #4

It cost $695 and is supposedly his best and most popular Forex
strategy, -short term momentum bursts.

I don't have the rules but I think I've figured it out

Having established direction ...

seems to be an engulfing bar or inside bar that's also an exhaustion bar

That's basically it

Seems like the Holy Grail

but don't they all initially

I'll upload a few screenshots

[kiravon]

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