Smashin's Journey

[Smashin]

B1-T14

2020-06-08

Usd / Cad - M1

S1 / Short



My comments and feelings at the time of the trade:
This certainly was not the prettiest "picture" but it was a setup. Honestly, at the time of the trade I do not know if I even knew that I was trading M1. I was just scrolling through the charts looking for a "picture" to trade. After a chat with Immy earlier in the day, I will consider adjusting my trading plan to eliminate M1 trading entirely. I've already considered on my own that once I introduce the Hunt entries to my plan, I can more casually trade several higher time frames with ease.

My comments after exiting the trade:
I am happy with how I played this one overall. I could have exited on the divergence of eWaves but then again I could have seen that it was a new peak on the eWaves and stayed in. Either way there wasn't much to work with on this one and the outcome would have ended up being about the same no matter the exit strategy since it never hit any TZ1. My focus is being disciplined enough to take the setups when I see them. Good practice nonetheless.

DS: 1
DS Running Total: 12/14

B1T14_2020-06-09_usdcad_M1_S1_2open.png

B1T14_2020-06-09_usdcad_M1_S1_2open2.png

B1T14_2020-06-09_usdcad_M1_S1_2open3.png

B1T14_2020-06-09_usdcad_M1_S1_3closed.png

[Smashin]

B1-T15

2020-06-08

Gbp / Jpy - M1

S1 / Short



My comments and feelings at the time of the trade:
The spike created an interesting chart pattern but the setup was there. I believe I was targeting just a few pips above the lows of the previous peak. Immy happen to spot this setup late so that fortified my decision in this trade.

My comments after exiting the trade:
This one was pretty dull compared to its contemporaries, CadJpy and EurJpy, which hit their targets without giving too much grief so I was somewhat disappointed by the slow price action. I gave the trade time to mature, but I closed it when price returned to the Gators mouth for the second time and broke the AIMS level, neither of which I appreciated.

DS: 1
DS Running Total: 13/15

B1T15_2020-06-08_gbpjpy_M1_S1_2open.png

B1T15_2020-06-08_gbpjpy_M1_S1_3closed.png

[Smashin]

B1-T16

2020-06-09

Usd / Jpy - M15

S1 / Short



My comments and feelings at the time of the trade:
I was showing a friend on Zoom what "Setup One" is all about. We couldn't have timed our meeting any better. Our session started with the entry of this trade over a screen share. It was quite enjoyable discussing my thoughts as the trade progressed and a great way for me to learn through teaching someone else.
There was some confusion on my part placing orders. We literally just started and I immediately told him to hold on because this was a setup. I was clever to set a limit order but it never triggered so I had to enter a bit lower with a market order.

My comments after exiting the trade:
TZ1 did not hit so I had to make an executive decision on the exit. During the progression of the trade I did mention to my friend that I could trail the candles since there were several consecutive impulse candles moving in our direction. But a part of me wanted to see a repeat of the strong moves I saw during the NY Session so I hesitated. We also got distracted discussing other charts as well and because I had already moved my SL to BE, that gave me time to think and come back to how I was going to exit.

DS: 1
DS Running Total: 14/16

B1T16_2020-06-09_usdjpy_M15_S1_2open.png

B1T16_2020-06-09_usdjpy_M15_S1_3closed.png

[immy]

B1-T13

2020-06-08

Usd / Chf - M15

S1 / Long



My comments and feelings at the time of the trade:
Entry criteria was valid. At first I was hesitant to leave it overnight but I decided the worst that could happen was that it would hit my SL. Unfortunately after my PO was hit I happen to be watching Immy's analysis of this chart. By then it was too late...

My comments after exiting the trade:
Damn you, Immy. You were right. Spot on with your analysis.
I think going forward trades left overnight will be setups no lower than on H1. M15 is 4X's the amount of new incoming information which can be a lot to manage objectively especially when unconscious.

DS: 1
DS Running Total: 11/13



B1T13_2020-06-08_usdchf_M15_S1_1PO.png
B1T13_2020-06-08_usdchf_M15_S1_3closed.png

Thank you Robert

Yes, I have been following the swissy for some time ... it was very much sideways and the box was tightening. I gathered that if it breaks the box then it will be in a free flow. You can assume a downtrend, (for the time frames underneath) when price is OUT of the box lows.

So while it did go up, it did only to be knocked on its head by those previous levels that had it held between those boxes. Now those forces are pushing it down...

Years of trading brought me this understanding that All time frames matter. They are not a different thing. They are JUST a zoom level that's all. But its all about Pattern Recognition isn't it?

I have a feeling we will have some interesting trades and conversations along the way.

And please don't take it TOO seriously. That takes the FUN out of it and then it becomes drudgery.

regards

Immy

PS: I agree the only time frames which allows you to leave trades overnight are H1 and above. BUT... if you have VPS and ATM... then its a slightly different story.

The volatility overnight is NOT appropriate for M15 charts. And when charts don't have enough ticks inside them, they are like anaemic people. They are weak and lifeless. The patterns lie to us.

[Smashin]

B1-T17

2020-06-09

Eur / Jpy - M5

S1 / Short



My comments and feelings at the time of the trade:
I decided to target just above the lows of the previous move, taking into consideration the divergence that already existed between the most recent eWaves peak verses the one before it. Perhaps it could be the 5th of the 5th? Since there was plenty of room to target, I felt the setup was valid and set my order.

My comments after exiting the trade:
Officially, I had finished trading for the evening but I gave the charts another look since I had them open and saw this "picture." Somehow I keep selecting the slow movers. ATM moved my SL to BE and I walked away from the charts for some time, only to come back to see it hit my target. Always a good feeling.

DS: 1
DS Running Total: 15/17

B1T17_2020-06-09_eurjpy_M5_S1_2open.png

B1T17_2020-06-09_eurjpy_M5_S1_2open2.png

B1T17_2020-06-09_eurjpy_M5_S1_3closed.png

[Smashin]

B1-T13

2020-06-08

Usd / Chf - M15

S1 / Long



My comments and feelings at the time of the trade:
Entry criteria was valid. At first I was hesitant to leave it overnight but I decided the worst that could happen was that it would hit my SL. Unfortunately after my PO was hit I happen to be watching Immy's analysis of this chart. By then it was too late...

My comments after exiting the trade:
Damn you, Immy. You were right. Spot on with your analysis.
I think going forward trades left overnight will be setups no lower than on H1. M15 is 4X's the amount of new incoming information which can be a lot to manage objectively especially when unconscious.

DS: 1
DS Running Total: 11/13



B1T13_2020-06-08_usdchf_M15_S1_1PO.png
B1T13_2020-06-08_usdchf_M15_S1_3closed.png

Thank you Robert

Yes, I have been following the swissy for some time ... it was very much sideways and the box was tightening. I gathered that if it breaks the box then it will be in a free flow. You can assume a downtrend, (for the time frames underneath) when price is OUT of the box lows.

So while it did go up, it did only to be knocked on its head by those previous levels that had it held between those boxes. Now those forces are pushing it down...

Years of trading brought me this understanding that All time frames matter. They are not a different thing. They are JUST a zoom level that's all. But its all about Pattern Recognition isn't it?

I have a feeling we will have some interesting trades and conversations along the way.

And please don't take it TOO seriously. That takes the FUN out of it and then it becomes drudgery.

regards

Immy

PS: I agree the only time frames which allows you to leave trades overnight are H1 and above. BUT... if you have VPS and ATM... then its a slightly different story.

The volatility overnight is NOT appropriate for M15 charts. And when charts don't have enough ticks inside them, they are like anaemic people. They are weak and lifeless. The patterns lie to us.

I appreciate your insights, Immy. I notice a lot of things that would seem obvious, become apparent to me only after the experience of maintaining a trading journal and the comments from me or others after a trade. I wish I had not waited so long to start one. Thank you for the nudge in the right direction!

[Smashin]

B1-T18

2020-06-10

Cad / Jpy - M30

S1 / Short



My comments and feelings at the time of the trade:
I was conflicted on this one for multiple reasons.

• I knew entering this trade I would have to leave it overnight and I think it's best to do that no lower than H1 for that scenario.

• I've been watching these charts everyday to know they all have been for the move part moving in one direction. So taking a trade in the opposite direction felt wrong to some degree. Looking at H4 it is obvious that I am attempting to trade a likely Wave C, so why not just wait for W5 to setup.

• So then that brings me to "A setup is a setup is a setup..." so I have to take it, right?

With these factors in mind, I was very protective with this trade and put faith that I was using ATM properly while I slept. You'll notice two entries. I've been having this habit of setting a pending order and keeping it, even if I also set another pending order at a better position later on. My reasoning is that if I thought the first pending order was valid and I was willing to enter there with a target point in mind, why should a new position invalidate the original. Perhaps this is my backwards way of training myself to add-on positions for when my trading skills get to that level.

My comments after exiting the trade:
As stated above, this was the first trade where I felt entering was both valid and invalid at the same time. Perhaps that's intuition enough to just skip this entry which I can keep in mind for future trading.
So why did I take this trade and not the setups on the other pairs that looked similar? When I compared Cad/Jpy to say Gbp/Jpy or others, Cad/Jpy looked like the best "picture" to me so I took it. The box was tight and I just wanted to target the lows, not TZ1, which I had plenty of room for. I set my breakevens somewhat protectively since I knew I wouldn't be awake if it moved in my favor. This trade really made me think but per my trading plan as it stands, I followed my rules so I am not disappointed by my execution.

DS: 1
DS Running Total: 16/18

B1T18_2020-06-10_capjpy_M30_S1_2open.png

B1T18_2020-06-10_capjpy_M30_S1_2open2.png

B1T18_2020-06-10_capjpy_M30_S1_2open3.png

B1T18_2020-06-10_capjpy_M30_S1_3closed.png

[Smashin]

B1-T19

2020-06-12

Gbp / Chf - M15

S1 / Short



My comments and feelings at the time of the trade:
After a long day at the office, I finally got a chance to open my trading station and started scanning the charts for crosses of ZL after peak of eWaves. I saw this one was still near the entry level so I entered on a market order. I looked through the rest of the charts but any other setups were already in target zone territory. As the trade moved a candle or two, I wish I had waited for a better PC formation before entering, giving PL and price a chance to catch up to each other. But it was still a Setup One where I entered so I felt good that I followed my plan. I set ATM to trail fractals and BE point at 20 pips. Then I went for my daily run. When I returned, the trade was still running. Eventually it hit the adjusted fractal SL.

My comments after exiting the trade:
At some point during the trade, it dawned on my that my SL should have been set a fractal higher and perhaps not trailed the fractals so aggressively. I also noticed that both markets were closed on this pair and I was trading right into a Daily support level. But I took the rent for what is was and will enter again if price produces another opportunity before I have to sleep.

DS: 1
DS Running Total: 17/19

B1T19_2020-06-12_ gbpchf_M15_S1_2open.png

B1T19_2020-06-12_ gbpchf_M15_S1_2open2.png

B1T19_2020-06-12_ gbpchf_M15_S1_2open3.png

B1T19_2020-06-12_ gbpchf_M15_S1_3closed.png

[Smashin]

B1-T20

2020-06-15

Gbp / Jpy - H1

S1 / Short



My comments and feelings at the time of the trade:
I spotted a few H1 / S1 setups in the late afternoon and this was one of them. I let ATM calculate my risk and allowed the trade to play out through the evening.

My comments after exiting the trade:
I woke up to a BE thanks to ATM managing the trade. I was hoping for a more dramatic Wave 5, but I'm happy with the way this story played out. And this completes my first round of T20's.

DS: 1
DS Running Total: 18/20

B1T20_2020-06-15_gbpjpy_H1_S1_1PO.png

B1T20_2020-06-15_gbpjpy_H1_S1_1PO2.png

B1T20_2020-06-15_gbpjpy_H1_S1_2open.png

B1T20_2020-06-15_gbpjpy_H1_S1_3closed.png

[Smashin]

BATCH 1 REVIEW

I find it a great accomplishment to have completed my first T20 Batch. The experience has taught me a lot about myself and is a process that I want to carry forward with my trading. I find it most interesting that my perspective has changed on some trades that originally I entered with a DS1 mindset. This reiterates the need to always keep in mind the bigger picture and to be humble enough for ongoing refinements.

I also learned what my mind looks for when executing a trade. I found out I do not give any attention to the S1 Dot Entry Alerts, but rather, I simply look for a peak of AO combined with a cross of ZL. This has me considering for the next T20 Batch to remove the entry alerts from my charts, thus clearing out some visual clutter.

For any AIMSters who have put their journals on hold or have any reservations about starting one, I encourage you to give it a shot. The worst thing that could happen is that you find out you are already a great trader and do not need any accountability to your level of discipline. The best thing, though, could be that you become more consistent in the executing of your trading plan, leading to greater success and profits.

Ok, on to the next batch!