Topher's Journal

[Topher]

That's a good start to the day a nice 6 pips.

I targeted the previous low area and is shown by the white line on the 5 min chart.

Richard

[Herbert]

Well done Richard.
Was watching the same setup but did not take (busy with other stuff)
Good to see you locking in planned pips by planning ahead to previous support levels.

Herbert

[Topher]

Well that's my first trade with V5.

I probably got out a bit soon as I simply targeted the previous support level. But I got 6pips and they all add up.


Richard

[immy]

HI Richard

If your target point is less than your average or full rent its not worth taking a trade. Targeting 6 pips with a risk of 10-13 pips is not going ot make you money. If you target you must target at least 1% 1:1. Another problem here is there were red news, our 10 or 13 pip Stop Loss is a joke for Red News it gets hit during spread expansion (brokers increase their spread during news time, specially red news) we must not trade around red news.

apart from the above the setup was great. Well Done!


cheers

[Topher]

Thanks for the feedback Immy.

When trading EUR-USD which red news have we to avoid? Is it all red news or country specific? I disregarded the news at 9:30 as it was GBP, however, GBP is in the Eurozone so will have a big impact.

Richard

[immy]

Thanks for the feedback Immy.

When trading EUR-USD which red news have we to avoid? Is it all red news or country specific? I disregarded the news at 9:30 as it was GBP, however, GBP is in the Eurozone so will have a big impact.

Richard

I do not trade around any Red news. EUR/USD has got USD in it, meaning almost all the pairs can have effects on it! plus we are on m1, its a sensitive zone!

cheers

immy

[Topher]

Trade 1 for today and 20 pips.

Aims Wave was not orange, however, there seemed to be momentum and I set my PO above 5min aims and moved my SL 3 pips below each candle until my SL was hit.

Richard

[msk185]

Great trade Richard.

I allowed myself to be put off by the 15 min and 60 min highs, so I was waiting to see if I got a setup 2, but it never occured.

Great start to the week for you

Mike

[Grant]

Morning Richard,

nice trading, i like Mike passed as there were m15 and H1 levels in the way.... Just goes to show that i know nowt...lol

cheers
Grant

[Topher]

Thanks for the comments.

I only have M1 & M5 levels on my charts as I want to try and keep it as clean as possible.

That's what is so great about these journals we can see how others trade and think. It will be interesting to see how the higher levels help in filtering the trades. Who knows they could be adorning my charts soon if you guys have success with them.

Thanks again

Richard