Randy Cha Journal

[Randy Cha]

24 Jan 2012

The day is ok.

Mood - neutral

Take trade on M1 chart.

120124_chart 16.gif

2 red dots + good confirmation on M5
Exit: upon seeing peach dot, manual exit (+34 pips)

[Randy Cha]

Hi Nick,

Very sorry for getting your name wrong in the last post.

FYI, I am using CMC's trading platform.

Good trading,
Ran

[connad]

Not a problem Randy, I answer to a lot of things )
That obviously means you have both charting software next to each other, one for entry and the other for the AIMS charting I guess?
Nick is my real name and Connad the user name.

All the best.

Nick

Hi Nick,

Very sorry for getting your name wrong in the last post.

FYI, I am using CMC's trading platform.

Good trading,
Ran

[Randy Cha]

Hi Nick,

You are correct... I am using two screens, because I have a day job and new to trading.
So, one screen for work matters, one screen for trading.

Cheers,
Ran

[Randy Cha]

24/1/12 --> 25/1/12

Day ok.

Mood - neutral/experimental

Trend is your friend.

Take trade on M1 chart:

120124_chart 17.gif

Setup 1 followed by setup 2. Confirmation checks on M5 chart - ok.
Trade 2 mini.
SL: 4 pips
TP1: + 10 pips
SL moves to BE.
2nd mini lot - let it run.

After breaking a strong resistance, add 1 more mini. Plan is for this mini to take profit at either around 1.30278 or 1.30555 because higher TFs are uptrending and Fibo already broke 50% and testing 61.8% --> so there is a possibility, but can't confirm; market will tell you what she wants, not what you expects her to act.
But in the end, I felt tired/sleepy and time was already passed midnight. So, I decided to exit with remaining 2 lots using a hard target. There is always tomorow or another day to trade. At that point, my stand is market will still be trending upwards for a while.
After washing up and brushing my teeth to get ready for bed, I returned to switch off my PC. Then, my objectives reached.
TP2: +30 pips
TP3: + 10 pips

[Randy Cha]

25 Jan 2012

Good day

Mood - Happy

Do 1 trade today --> ride the trend (nice feeling)

On M1 chart:

120125_chart 18d3.gif

120125_chart 18d2.gif

Confirmation checks with M5 chart.
Timed Entry @ 1.30230
Hard Exit @ 1.29400
SL @ 1.30340 originally, then move to BE and then moved further 1-2 times to keep profits.
It could be a ~ 100 pipper down-ride --> price may visit 1.2920 or lower ... actually can wait out a while more to see.
But my daughter woke up and I haven't spent time with her yet. )
So, set a hard exit.

Cheers.

[Randy Cha]

26 Jan 2012

Good day.

Mood - relaxed.

Did two trades.

On M1 chart:

120126_chart 19.gif

1st trade:
After confirmation checks @ M5, short @ 1st red arrow (there is a red dot a few candle bars behind). Go for hard target 20 pips, SL at AIMS level +1.
Outcome + 20 pips

2nd trade:
Risky trade, because trade into the direction of purple line on M1 chart.
But after checking higher TFs for signals, and because price bounced off from a strong support level, decided to proceed with trade. I used the two fib levels for entry and target. SL behind AIMS level - small SL (ready for rental payment). Target should aim at 50% (higher chance and confluence consideration), but in the end I settled for 61.8% level.
Outcome + 13 pips

[MichaelC1234]

Really good to see how you view your set ups I have sat all morning and seen nothing . Need to sit with you I think . +33 pips by this time is fantastic
Michael

[Randy Cha]

Michael,

Thanks for the kind words.

Cheers,
Randy

[Randy Cha]

26 Jan 2012

Mood - ok/positive

Do two more trades after taking a break.

All actions on M1 chart:

120126_chart 21.gif

1st trade:
Green dot -> wait to go Long
Check M5 chart -> Blue dot on M5, ok -> order filled after 11 min, SL ~ 8 pips
Orange line -> previous resistance -> set as target
TP: + 23 pips

2nd trade:
Stand is: rebound at 5 min low level -> used to be a strong resistance level -> now should be strong support -> so, strong rebound
Wait to go Long -> entry at 23.6% Fibo level.
Target - set at 100% Fibo level (confluence)
SL ~ 7 pips (ready for rental payment, in case trade goes bad)
Order filled after 2nd rebound (or 2nd retest) of 5 min low level.
Has to fight the urge to exit at 61.8% to take early profit, but believe in the power of confluence, and trend still in my favor, so hold on.
Then came a sudden breakout, ... and
TP: + 20 pips