Siegrid's Journal

[rcrglmd]

Batch 1 Trade 4

Date: 01/02/19

Symbol: EURJPY M15

Signal Type: Setup 1 Short

Comments and feelings at the time of taking the trade: Liked how price had come back closer to the purple line, gator was closed completely (unlike the red dot just prior) and the box was relatively small compared to others. I thought it was a good S1.

Comments and feelings after exiting the trade: Have just seen the TZ1 line on the chart. Not sure if that was there when I took the trade, I didn't take a screenshot at the time of entry. But if it was I should not have taken the trade, I can't believe I took that if that TZ1 line was there. Giving it a DS0 because of the TZ1 line.

DS For this Trade: 0

DS Running Total: 2 / 4

[vickyp]

Welcome back Sig, I have missed you.
My first 2019 one was not a winner either!
Vicky

[immy]

Starting over in 2019

Date: 01/02/19

Symbol: EUR/USD M5

Signal Type: Setup 1 Short

Comments and feelings at the time of taking the trade: Felt good to be back looking at charts again. Had a bit of trouble with my ATM settings, just trying to remember everything and what does what. I thought it was a good S1.

Comments and feelings after exiting the trade: Was hoping to start with a "financial winner", but know that is not really winning at this stage. What I'm after are DS1 scores. So that little twinge I felt at not having a "financial winner" I let go. Looking at the H1 chart now I can see that the chart had just completed a W1 to W5 sequence, and so I think that perhaps my entry wasn't at the best time (viz., after a W5 had just finished).

DS For this Trade: 1

DS Running Total: 1 / 1

Hey welcome back... I am delighted that you've started recording again. One more question I suggest these days to add journal writing. Which really makes a big differen

"What did I learn from this trade and How could I have done it better?" Give it a try.

One important point I noticed that's what prompted me to reply to this post.
"Was hoping to start with a financial winner". You see, you can't expect the market to do what you want, you can't make goals based on circumstances that are out of our control. T20 Principle , is applied over a longer enough period, gradually instills the idea of "probabilistic mindset". The chances of the NEXT trade being a winner / loser or BE are exactly the same. Its a 3 sided dice. We have really no edge over a single trade. Its just a coin toss. However, we use risk management to our advantage to actually grow accounts. So really and truly, entries and exits are just mechanics. What makes us money is RISK MANAGEMENT. Our edge is revealed over the next 20-30 trades. IF we trade according to our plan, using correct Risk and Trade management, there is a higher chance that the The sum total (sum of all losers and winners) of a set of 20 or 30 trades will be a Positive Figure. It is impossible to predict if the next trade will be a winner or a loser. But its quite possible to predict whether the account has a higher chance of growing over the period of 50-100 trades provided DS is above 70%.

In other words, don't get your hopes high for one trade. But surely keep them high for 20 or 50 trades.

Hope this makes sense

[immy]

Batch 2 Trade 2

Date: 01/02/19

Symbol: AUD/USD M15

Signal Type: Setup 1 Long

Comments and feelings at the time of taking the trade: I liked this set up. Clear W3 and then W4, tight box and gator closed.

Comments and feelings after exiting the trade: Please with myself because I thought this was a clear S1 and therefore a DS1 and I'd followed the process.

DS For this Trade: 1

DS Running Total: 2 / 2

Please don't use the automatic feature of drawing TZ1. it just doesn't make sense. It is misleading .We should know when to plot TZ1, do it manually and take it off after we know its work is done. It is not a godly feature nor is it a 100% guaranteed target. Its just a measurement that's all. Infact I thik the blue T Z1 on that chart is completely wrong. Keep it very simple. and I highly recommend, that we should always post pictures on the CTF , the time frame we took the trade, and the 5XHTF so for M5/H1 or M15/H1 or M1/M5 or H4/D1. so that when we look back it , we can get a feel of where was the "setup" and the Trade within the longer term time frame. HUGE learning is done this way.



and stick to one time frame for taking trades, one time frame for longer term. Too many time frame combination just will prolong the learning curve. M15/H1 is the BEST for currencies these days. or H1/H4. to trade M5, the Higher time frame should always be H1 or M30, not M15. For M15 it is H1

Indeed:
The Highest Probability trades are revealed when we do our analysis on multiple time frames. AIMS Strategy is based on this concept. We have tried to come up with rules that will keep the trader inline with this concept as much as possible. However rules are not enough. We have to understand this concept and work around it.

cheers

[rcrglmd]

Hi Immy,

Thanks so much for your feedback. I really appreciate it. I’m not sure what you mean about the automatic feature of TZ1. I got Steve’s ewave indicator, are you saying for me to delete this and draw the TZ lines myself? If you are, do you have a post link where I can go to have a read about what I need to learn to do this? I would love to know what to look for and understand the concept better.

All your advice about time frames I understand and will follow. I’ll stick to M15/H1 and post the two charts to get a better understanding where the setup is the in the bigger picture. Thanks Immy for taking a look at what I posted.

[rcrglmd]

Hi Vicky,

It's good to see you in here It’s good to be back!

[rcrglmd]

Hi Immy,

I missed the first part of your feedback the other day and was just re-reading and saw it. Thank-you. Changing my mindset to think in terms of probabilities is slowly happening (I think!). Re-reading what you have written really illustrates why the DS score is so important. I can’t hope to get the results I want, and that your system can provide, if my discipline is so poor that I can’t follow the system.

[rcrglmd]

Batch 1 Trade 5

Date: 01/02/19

Symbol: USDCAD H1(took this one before Immy’s advice to stick to one time frame & have included it because it's one more trade that I can use to get to T20)

Signal Type: Setup 1 Short

Comments and feelings at the time of taking the trade: Confident, it seemed like a good Setup 1 to me.

Comments and feelings after exiting the trade: Still in the trade at this point, but looking back at the chart on H4 (the HTF), it looks like at the time of my entry (on H1) the H4 chart was entering the probable end of W5, so with hindsight it was maybe not an entry point with a high probability of success.

What did I learn from this trade and How could I have done it better?: To thoroughly check and understand the wave pattern on the HTF.

DS for this trade: 1

DS Running Total: 3/5

[rcrglmd]

Batch 1 Trade 6

Date: 06/02/19

Symbol: GBPUSD M15

Signal Type: Setup 1 Short

Comments and feelings at the time of taking the trade: It looks like a good S1 to me. I like it on M15 because it meets all the flowchart rules. I also like it H1.

Comments and feelings after exiting the trade: Still in the trade at this point. I’ll update this entry once I’m out.

What did I learn from this trade and How could I have done it better?: Will update when I'm out of the trade.

DS for this trade: 1

DS Running Total: 4/6

[rcrglmd]

Hello,

If anyone is there perusing the forum, I'm not sure if my charts are displaying okay? When I preview my post before submitting I can see them, but once I've posted and am looking at my post in the forum the chart isn't showing, but there is an "attachments" box with the jpegs. It that what you can see? I'm not sure what I'm doing wrong.