Mike's Journal MSK185

[msk185]

Ok, so I placed an order to go long just ahead of US news at 1.30 as price was at a saddle point, Alpari triggered my order in even though it didn't get to my entry. Price reversed to take my stop.

Lesson, dont place orders before red news - not quite sure what emotion was at play greed I think - (note read Grant signiture!).

Have emailed Alpari to see how they respond about triggering my order when price didn't hit the entry point.

Mike

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[immy]

Thanks Guys

Just purchased it and it looks fantastic... Great indicator to determine Support and resistance!!!!

Coopps

Oh boy! No need to email them, the spread goes higher during news releases that can trigger your order. On Alpari its only fora fraction of a second as compared to other platforms!

cheers

[msk185]

Hi

Immy you were right ^:)^ spread had increased, so have only myself to blame.

Anyway next trade, took the break of 5 min level after the red dot with a sleeping alligator moved stop to b/e when two low test bars appeared.

Not sure I've quite got my colours sorted yet for V5

Cheers

Mike

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[msk185]

First trade today and 10pips profit.

Saw the dot but at the time alligator and AO not a setup for me, so waited for a new level. Entered on break of new level, was concious of the 5 min low some 10 pips away but price broke through, however as it retraced I paniced and exited for 10 pips, should have stayed calm and got my 20!

Reading on some other journals, I had forgotten about the news as it was GBP red news. Something to remember next time.

Cheers

Mike

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[msk185]

A quick round up of the week. In all I took 11 trades, I had 5 winners, 4 losers and 2 b/e. Overall I made 12.4 pips or 1.24% as my initial stop was set to 10 pips, so I'm very pleased with that as a newbie to the system.

Observations for me - stick to the rules of the plan - every time I deviate it hurts
I have closed some trades too early out of fear when price retraces so need to work on that.

Finally thank you to everyone who is contributing on the site it really helps me and I'm sure others in learning to master this system and of course thanks to Immy, Grant, John, Steve and the other Aimsters for sharing their knowledge so we can all benefit I very much appreciate it.

Wishing everyone funfilled enjoyable weekends and here's to many pips next week.

Thanks

Mike

[msk185]

Aha a late entry, just I was wrapping up for the week got a long setup which I took for 4pips a nice way to finish the week.

Entry was a setup 1, exit when price bounced off the 15 min high.

Happy days

Cheers

Mike

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[msk185]

Morning All

First trade today and I pay the rent -8 pips

I think in hindsight maybe this was a setup 2 and I didnt wait for new level to form also not a fresh cross of ao but it was close to zero

any other views welcome

Mike

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[msk185]

HELP!

Two more rent trades, where am I going wrong? took the break short as aligator was asleep with purple in the box, when it failed i took the break long but that failed too. I now have 3 rents in a row -26 pips for the day.

Any advice welcome

Thanks

Mike

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[Topher]

Mike

I have been tempted to enter since 14:00, however, we are ranging at present and I am looking to place a PO when the correct signal comes just outside this range. To the upside this is the 15min high or just below the 5min low on your chart. Not sure if this is the correct way to think, its just how I am seeing it.


Richard

[msk185]

Hi Richard

I think you might be right. Just got 6 pips back with trade 4 but the 15 min high although broken was quickly rejected

Here's a pic of trade 4

Cheers

Mike

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