Brenda's Journal

[brendab]

NY Session a little rough to trade today.

Trade #1: +1
Trade #2: +1
Trade #3: -8
Trade #4: +3

Total pips: -3
Acct growth: -.02

Weekly pips: -27
Weekly Acct growth: -2%

#1 result.gif

#2 result.gif

#3 result.gif

#4 result.gif

[msk185]

Hi Brenda

The first trade I thought AO was a little old and also diverging so declined that one, the second trade I left as it was close to news. Luckily for me had to nip out so i missed the third setup but looks like you were unlucky with that one and the last trade I took but closed when price initially rejected the 15min high as it was late in the day.

Have a great weekend and many pips next week

Mike

[brendab]

Took a beating today! The one trade that would have worked out I didn't take. ~x(

Trade #1: -11
Trade #2: -7
Trade #3: -10
Trade #4: -10

Total pips: -38
Acct Growth: -2%

#1 & #2 result.gif

trade #3 result.gif

trade #4 result.gif

[brendab]

Another tough day. Missed some that would have worked out. I'm frustrated this week but still have a positive attitude. I know if I keep going this will turn around.

Trade #1: -10
Trade #2: -7
Trade #3: -5
Trade #4: -8

Total pips: -30
Acct growth: -2.2%

trade #1 & 2 result.gif

3 result.gif

4 result.gif

[Herbert]

Hey Brenda. Certainly a tough round.
I am not in a position to evaluate on your AIMS setups as the Masters can. So this communication is simply trader to trader. We learn together.
Your comment on too tight SL's I do agree with. One would like to minimise the losses but a too tight SL can actually increase the losses (ask me i know ^:)^ ).
I am sure you have already taken a look at that.

If i may, what i normally do afterwards is get an overview of the day to see what happened. So this is in retrospect.

I am a big fan of S/R levels and divergence, so excuse if i colour it this way too much.
I am attaching a zoom-out M1 chart and placed your trades in the red arrows and green arrow.

Starting with the blue area for the day is the Asian channel (Wellington open to NY midnight). The top and bottom of this channel does have a lot of influence on the day as you can see. Also coinciding is the 4H S/R.

Interesting is the red block i drew across the lows after london open, price then broke through and then the same area became resistance before price returned above it. In both breaks there was significant momentum/movement to get through. Seems to have been a signifcant pivot point for the day.
Your trades were certainly seeking these breaks out.

Also note the divergences i marked on AO peaks, the blue a divergence type where price does not follow the momentum of AO (I think of it as a slingshot, where there will be a pullback like a rubberband), indicating that upward action can be expected. The orange is the regular divergence indcating momentum did not follow price, again indication that price may be expected to go higher. By the looks of it, a wave 5.

In general a very ranging market for the european session.
Additional note: I see the US session highs simply returned to the ranging highs within the european session, right into the next Asian session period.

Regards
Herbert

SR for 2401.png

[brendab]

Thanks for the analysis Herbert! I've never "squished" the 1M down like that and looked at the whole day, very interesting. Amazing how my trades bounced off that red level. I've suffered from analysis paralysis in the past so trying not to fall into that again, but I can definitely see how knowing where the S/R levels are would have been helpful today. Thanks again for your input!

[brendab]

Finally...got some good trades. Hind sight, should have stopped after first two.....shame on me for being greedy! [-x

Trade #1: +13
Trade #2: +15
Trade #3: -5
Trade #4: -3
Trade #5: -4 (SHB BE, was distracted by someone)

Pip total: +16
Acct growth: +1%

#1.gif

#2.gif

#3, 4, & 5.gif

[Herbert]

Way to go!!! Love the divergence leads..... B-)
Kudo's for sticking to your game.. plan A is workin fine.. (wd)

Herbert

[brendab]

Didn't trade yesterday. Today's results not good. This week not good. I felt like I have been trying to force the trades instead of just waiting for the perfect setups to come to me. I'm going to read the manual again and do lots of review this weekend. Try not to make the same mistakes again. Work on patience and discipline. Not discouraged just need some more experience with this stuff.

Trade #1: -7
Trade #2: 0
Trade #3: -14

Total pips: -28
Total acct growth: -1.3%

Weekly pips: -80
Weekly acct growth: -4.5%

1&2 result.gif

#3 result.gif

[Mdock]

Hi Brenda

Discipline is the key , you are on the right track.

Cheer Mdock