Siegrid's Journal

[rcrglmd]

Date: 16/07/20 Batch 1

Trade #: 2/20

Chart: HK50 T direction: Sell

M5 setup: DS1 M5 in downtrend. Price came back to touch the green line.

Timeframe: M1 Box size: 562

Ltf setup: DS1 Gator crossed, purple line good, ao cross.

Execution: DS1 ATM is awesome.

Take again: Yes

Note: Was thinking that I should have been more aware and moved the entry stop loss to the smaller box size but I was distracted for a moment and didn’t. Was worried at the end of the trade that I should have closed it out rather than waiting for the next drop (if there was to be a drop). But...discipline...

[rcrglmd]

Trade Number: B1-T3 (#589)
2. Date/Time: 10/09/20 11.42
3. Symbol/TF: cadchf M1
4. Signal Type / Direction : S1/sell
5. Comments and Feelings at the Time of Taking The Trade: Was a nice box break on H1, and nice pullback to the green line on M5. S1 on M1 looked good, the ao cross wasn’t really a cross though.
6.Comments and Trades After Exiting the Trade: My entry was a late. Technically I think this was a valid S1 (but my entry was late).
7. DS For this Trade: DS1 for the S1, but DS0 for the entry, so DS0 overall.
8. DS Running Total: 1/3

[rcrglmd]

Trade Number: B1-T4 (#747)
2. Date/Time: 10/09/20 16.02
3. Symbol/TF: eurgbp
4. Signal Type / Direction : S1/buy
5. Comments and Feelings at the Time of Taking The Trade: Nice big box break on H1. Nice clear uptrend on M5. Pull back to the green line on M5 without price crossing the green M5 line. All boxes ticked for S1 on M1 (dot, gator cross, ao cross, purple line).
6.Comments and Trades After Exiting the Trade: Was concerned, as always, just after entry when price starts going in the other direction
7. DS For this Trade: DS1
8. DS Running Total: 2/4

[rcrglmd]

Trade Number: B1-T5 (#362)
2. Date/Time: 09.55
3. Symbol/TF: cadchf/M1
4. Signal Type / Direction : S1/buy
5. Comments and Feelings at the Time of Taking The Trade: Was only a small breakout of the AIMS box on H1 prior to my entry (this alone should have stopped me from taking this trade). But, M5 was starting to trend up, and there was a pull back to the green line on M5.
6.Comments and Trades After Exiting the Trade: My entry was just prior to 10am. I should have waited until after 10am to see what would happen. Immediately after 10am the stop was hit after two big red candles.
7. DS For this Trade: Technically I think this was a valid S1 on M1 (i.e., dot, gator cross, ao cross, purple line all in place). But, because of the lack of a great trend on M5, and the lacklustre breakout on H1, and especially the just prior to 10am entry, I think I should have not taken this. Would I take it again, no. I do think it was a valid S1 on M1, but I’ve committed to only take trades on M1 where there is a clear and strong breakout of the H1 AIMS box. I’ve found this helps me filter many S1’s on a LTF that I would otherwise take. I’m giving myself a DS0 for this one.
8. DS Running Total: 2/5

[rcrglmd]

Trade Number: B1-T6 (#741)
2. Date/Time: 11/09/20 11.00
3. Symbol/TF: audcad/M1
4. Signal Type / Direction : S1/buy
5. Comments and Feelings at the Time of Taking The Trade: Break of H1 AIMS box, with second candle out of the box big. Nice trend starting on M5, with pull back to the green line without price crossing the green line. Entry on M1 showing just above the M5 box. Nice S1 on M1 (gator, ao, purple line, dot, all correct).
6.Comments and Trades After Exiting the Trade: The strong movement up on M5 helped make it clear to enter on M1.
7. DS For this Trade: DS1
8. DS Running Total: 3/6

[immy]

Trade Number: B1-T3 (#589)
2. Date/Time: 10/09/20 11.42
3. Symbol/TF: cadchf M1
4. Signal Type / Direction : S1/sell
5. Comments and Feelings at the Time of Taking The Trade: Was a nice box break on H1, and nice pullback to the green line on M5. S1 on M1 looked good, the ao cross wasn’t really a cross though.
6.Comments and Trades After Exiting the Trade: My entry was a late. Technically I think this was a valid S1 (but my entry was late).
7. DS For this Trade: DS1 for the S1, but DS0 for the entry, so DS0 overall.
8. DS Running Total: 1/3

Here is what I think about this trade

Not a million years would I trader CADCHF on the M1 chart....

[rcrglmd]

Hi Immy.

Thank you for letting me know that. Can you give me more detail on why that is a chart you would not trade on M1 please?

Is it because it's a cross? Or due to less trading volume and higher spreads maybe? I'm still very much learning and keen to understand a bit more.

Thanks Immy.

[immy]

hi

The choice of a time frame and instrument all depends on its relative volatility and its ratio to spread.
Any pair with less than 100 pips ADR (average daily range) is not good pair for M1 time frame.
Any pair with higher than 2 spread is not suitable either.
These two filters would eliminate most forex pairs.
CADCHF has an ADR of 68. IN fact it is the 2nd least volatile pair after eur/chf which sits at 48. This pair does not even qualify for my D1 list let alone H1 or M5 M1 ... for those reasons

IF you want to surf you need an ocean, but not just any ocean/sea. You need one with good size waves...

Hope this makes sense...

immy

ps: I love the approach though .Look for MOVING markets on the h1 and find setups on the m5 chart...

[vickyp]

Hi Sig

Good to see you here,
I saw Jas for a quick coffee on Friday and we were only talking about you, wondering how you were going!
Vicky

[rcrglmd]

The choice of a time frame and instrument all depends on its relative volatility and its ratio to spread.
Any pair with less than 100 pips ADR (average daily range) is not good pair for M1 time frame.
Any pair with higher than 2 spread is not suitable either.
These two filters would eliminate most forex pairs.
CADCHF has an ADR of 68. IN fact it is the 2nd least volatile pair after eur/chf which sits at 48. This pair does not even qualify for my D1 list let alone H1 or M5 M1 ... for those reasons

IF you want to surf you need an ocean, but not just any ocean/sea. You need one with good size waves...

Hope this makes sense...

immy

Hi Immy,

That makes perfect sense, the bit about the ocean and the waves, can see what you mean...the specifics of how I measure the waves (ADR & 2 spread) I'm a bit unsure about.

I've had a look at ADR and googled how to get this on MT4. I think ATR is the same as ADR? I've attached the cadchf chart below where I've put timeframe to daily and an ATR with a 14 day period on it, is this what you mean? If it is, do I then look at the figure shown on the top left of the ATR panel (viz., 0.00468) to get my pip value (i.e., 46.8 pips?)?

I've also noticed that Steve's Advanced Trade Manager has an ATR 60 figure showing, I'm assuming this is the ATR, but for the last 60 days (not 14 as per the ATR panel). Is this what I should be looking at?

Immy, I don't know what you mean by "2 spread", I'm sorry. Can you give me a bit more detail? I'm happy to go off and google to understand more, just point me in the right direction