Vicky's Journals

[Jasmien]

Hi V.

Thanks for your "Batch 6" summary.

So let me start by this: Having two loosing batches in the row is not the end of your trading career, it happens.

I hear you though when you say your seem to be missing something or something needs to fall into place for you, what came to mind is when you mentioned "Missing Opportunities" I thought you might be looking at too many charts, I understand we had that discussion before but I wonder if you should focus on less charts and get more intimate with your charts, since I know you are viewing D1 chart for all your H4 entries maybe we need to make you see what is D1 telling you and than just cherry pick a handful of charts... What else came to mind is you seem to be struggling with ewave count, so hopefully ewH will help you a bit better with this as numbers are being displayed nicely. I realised also you don't look for a wave 4 or a 38% retrace when taking S1 so try to look out for that as well.

Since you are a member on Slack come in and discuss your thoughts at the time of entry when unsure, end of day we need you to get you to a place where you can pull the trigger within your own rules & plan but by saying this we all need some sort of confirmation and a discussion around a trade I call it thinking out loud within our group) very often I answer my own question by actually asking the question it self...Hope that makes sense. Make the most of slack by asking and going over grounds...

[vickyp]

Hi Jasmien
Thank you for taking the time to read my journal. I have just dropped another couple of charts from my list. So I agree with your comments.
Also the reading of waves is a weakness, and I now have the new eWH on, I notice a few more W4 already! As we had discussed I am starting at D1 and then working back to H4 if D1 shows any thing of interest.

Will try and pop into Slack more, some days with kids activities after school the timing doesn't always work.

Thanks again for your comments and keeping me on the right path!
Must be time for our next coffee catch up?
Vicky

[vickyp]

27/2/19

Batch 7

Trade 01

US30 H4 Long
S1, was watching, then smaller box formed, started ok.

End result was -1R

R result to date for this batch: -1R

DS score for batch: 1/1

Overall total R score: (all batches) +10.5R

My Feelings and Analysis at the time of entry and afterwards - W4 had happened and I took it as W5 would continue long. TZ line was above. Afterwards - just before it stopped out it was evident it was not continuing long. There were better trades to take at this time.

What could I have done different? waited for more retrace.

What did I learn from this trade? Entry was too late, the 12/2 S1 would have been a better place to enter.

[immy]

1. HUGE BOX Risk Reward Ratio would mean a substantially amazing stock results in this negative period of time in the world where all the indices are topping out. On my chart it shows the box required a stop loss of 372 points. You needed 750 points profit which would take the Dow back to the 2018 Highs.
2. for a Trade taken on H4, I would look at D1 chart and the moment I do that, I see a TREND / wave up that has been going in that direction 3 months. The AO for this H4 wave up shows at least 8 Peaks.
3. The trade was NOT into Wave 5. yes, it might be shown as such on eWH but that is NOT something I personally follow. The Wave 4 MUST have a Cross of ZL.
4. I would NEVER take a long on the box break that big and all the way up there.
5. The Trade has been taken at the , possible PEAK of a , wait for it, FOUR THOUSAND AND FIVE HUNDRED POINTS MOVE UP.

think

[immy]

I posted these in the Slack Group but posting it here as well for the record.

[vickyp]

Hi Immy

Thank you for your comments. I have been following Jasmien WIPG channel, and I am finding it is helping me read more on the acutal chart as well as watching and waiting for the S1.

At the moment I am struggling with timing to get to my computer for the London open (this is due to working and kids activites after school. life at present), and NY is at 10.30pm our time,I am watching at this time but finidng it is getting a bit late for me to do each night.

I am missing alot of entries at the time that would be the best to get in, and see the trend move off without me in it.
Studing the waltz pattern and pin bar pattern from Jasmien's posts I was wondering if I could do a bit more on this, to get in on pull backs and pick up the trend as it unfolds?

I am sure if I bribe Jasmien with Cake! (and being in the same time zone) I could also work with her to learn more in this area and confirm what I see with her.

I am looking at this to ensure my learning and advancement continues with my current time restaints.
Thank you
Vicky

[immy]

Hi

Yes, Jasmien is learning a new method. But I don't think you're ready to get to that stage for now. You still need to fully understand what a Setup 1 is. I am not confident that you fully understand it yet.

Now lets talk about the EURGBP. I'm sure you got stopped out right?

But there was something you had to be aware of. Assuming you did get stopped out.

1. There was NFP so actions were to be taken in line with it
2. It hit its frist Target, that is it hit the LOWS to hte left. For ALL setup ones, where entry is near the peak of 3, (the box low in this case) chances are price will pause or reverse there. so its best to either move SL to BE or Move SL to Be and Close Half

here is how I played it.

I moved SL to BE when it hit the levels to the left. Today, price moved up .

[immy]

The above post is to hint towards something

Its time now that you step up your game a little.

HEre is something I'd suggest you do. Go through your trades, specially the losing ones. and find out how many times you could have actually exited well before the full -1R was hit. And still had you followed the same exit method you'd not have missed on the the winners.

This is what you'll find. The trades that go in our favour usually do so immediately and hardly ever show any draw-downs.

The way to do that is as follows
As soon as entry is triggered. Move SL to low of the Trigger candle (at the close of the candle) for buy orders, and above the high of the trigger candle, after it closes, for sell orders.

note: if you now say that you can only check 1 candle from the 6 candles on the H1 chart then I'd say, "why are you trading the H4 chart?". If you can only check charts ONCE in a day, you should be trading D1 charts. Period.

Next, check how many times price touched the levels to the left (often peek of previous wave 3) and turned around and either went past your Entry and turned into a losing trade or turned into BE. (the BE trades are fine).

And if you have time, also find out, how many trades you've missed between your trades that were legit trades that should have been taken according to system but you did not take due to time constraints (again, a hint towards, if you cannot check at least 3 of the 6 candles within a 24hr period, you probably should not be trading the H4 chart, but that's ok.)

can you do that?

[vickyp]

Now lets talk about the EURGBP. I'm sure you got stopped out right?

Nothing happened for me on this one, I had my PO on, but then with the very large tail on second red candle after the doji on the 7th, it went above my SL point (top of box) so I canceled the PO. Chart attached.

But I don't think you're ready to get to that stage for now. You still need to fully understand what a Setup 1 is. I am not confident that you fully understand it yet.

Thanks Immy. I am working on D1 at this point due to time restrains available to me. I don't get to see the 3 out of 6 candle for H4 currently.
I understand I need to take a couple of steps back to go forward.

Vicky

[vickyp]

Immy your second post, about reviewing losers. I shall read in more detail shortly and come back to you. This will take some time and I will not get to it tonight.
Vicky