Mike's Journal MSK185

[immy]

Hi immy / Grant

Thanks for the supportive comments, despite the time I took the following setupas it had a fresh cross of AO and looked to have a run to the 15/60 min lows where I took a 1% exit to finish my day on a high.

Could have got 2% had I held on but was happy to take profit.

Cheers

Mike

2601 1815.gif

Yep, like Grant said, its always hard to take that next one after a few rents. On this occassion, it was a really nice drop. 30 pips were there! Patience and discipline was required! Well Done anyway!

[msk185]

First trade today, another rent, broke long but then broke the aims level, just a small 3 pip one.

Mike

2701 1226.gif

[msk185]

Second trade today, pays the rent with 3 pips profit

Setup 1 , proper entry, closed when price stalled and failed to break new aims level

Mike

2701 1242.gif

[msk185]

A tough week has come to an end, unfortunately I had some finger trouble placing an order at 16.52 so missed one of todays best setups but c'est la vie, next time.

This week finished with -37 pips so I'm definately a work in progress, some good lessons learned though to take into next week.

Wishing everyone a great weekend and thanks to all who contribute on the forum your posts really do help.

TTFN

Mike

[msk185]

Trading from a beautiful spot on the west coast of Scotland this week, unbelievable view today with stunning weather to match.

Anyway first trade of the week is a b/e, closed early when price spiked back towards my entry.

Good entry, but need to learn to hold my calm and nerve once in the trade.

Cheers

Mike

3001 1210.gif

[Topher]

Mike

Holding your nerve whilst in the trade is one thing I need to get a grip on also. It is like all logical thinking goes out of the window. On a higher TF it seems like you have ages to think about it but M1 just kicks your ar$e.

The West coast of Scotland is one of the most beautiful parts of the World IMOH. Hope you have a great time.

Richard

[msk185]

2nd trade today turned into rent.

Placed the po above new 15 min high, trailed my stop behind the aims level. Price bounced off the 5 min purple, now what was everyone was saying about the 5 min purple earlier ?

Ho hum next!

Mike

3001 1601.gif

[msk185]

Still struggling here to get the hang of this system another rent trade -7 pips

Not sure what I need to change to improve

Any ideas

Mike

3101 0821.gif

[Grant]

Morning Mike,

this is meant as constructive so please take it that way.

Looking at that trade the AO although its losing momentum its still above 0 line and green..... Secondly the alligator is not really asleep as the lines are not completely inter twined nor is it awake and heading south...

Try to take the best looking set ups where as many of the boxes are ticked. That way you will hopefully reduce your number of rents whilst still taking the wins...

hope this helps

Grant

[msk185]

Thanks Grant, I think I get a bit impetuous scared of missing a good move so more patience and discipline required. Your spreadsheets of dot analysis are really helping there, so thanks for those.

Cheers

Mike