Tom from Leeds's Journal

[immy]

BATCH 1 TRADE 6.png
 BATCH 1 TRADE 6

EU SHORT

M5 red dot and fresh AO bearish after a failed reversal. M1 Red dot, fresh AO cross. 
8.8pips risk 1%
DS+1
BE
TM - trailed bearish candles, of which we had 11 from the start of the move.  Price moved sideways, my SL was to BE. I had my 'close order' ticket open ready to close manually. However, trailing fractals was the same SL point as trailing the bearish bars so I held off closing as I was at BE and risk free.

Could I have closed for a few pips profit when price moved sideways around the recent lows? Yes. We had a bullish reversal pin bar and a dark AO. However, whose to say price wasn't going to stall and then continue in my favour? On the last 2 trades I could have closed early based on a price stall/price action alone but I'm conscious that this isn't going to give me the 'running' trades when they do appear. Trying to stick to an exit plan on every trade which involves the market telling me I am out by hitting a SL or TP.

Felt calm throughout the trade. Happy to trade what I saw here having just traded EU long a few minutes earlier. 

 

Not a Setup 1. Trade ONLY Setup 1s./ 

[immy]

BATCH 1 TRADE 5.png
NYO. Not a trade as per the strict rules of 'black dot no trade.' So DS-1 for that However, I have been looking at black dot reversals and can see how powerful they can be combined with what m5 is doing. I know they are traded by people in this forum historically, but not recommended for beginners.

I Saw EU M5 what I believed to be finishing W5 with divergence and a fresh AO cross to the upside. I Looked at M1, Also had divergence. 

7.8pip risk 
1% risk
BE
TM - didn't have 5 consecutive bullish bars to trail although we had good price and momentum to the upside. M1 showed bearish candles which formed an M5 bearish pin bar. SL to BE at that point. SL Hit as AO turned dark green. 

I did feel like I wanted to get to BE as quickly as possible given it wasn't a by the book aims trade. Felt a bit relieved to get to BE but I based my decision to move SL on information not gut. 

 

NOT a Setup 1. Trade Only Setup 1's. You still don't know what is setup 1. And that is ok. That is why you've created this journal so that you can learn what is a Setup 1. 
 

[immy]

BATCH 1 TRADE 3

Setup 2 - Alligator awake, red dot. Looking for add on...
Away from purple?Yes
SL Exit point in pips:12
RR ratio available:1:2
PO under M1 or M5 AIMS level?M1 and M5
PO price:1.12671
Trade Management Rulesand why:Fractal trail, manual close on red dot.
% Risk 1
Pip -/+-8.6
% -/+-0.71
%DS score-1 - although ao close, it wasn’t a fresh cross, AGAIN! However I closed manually on red line cross, as per the exit plan.

COMMENTS I saw this trade as an ‘add on’ after coming back to the screen just after the initial move. I’m a bit confused with myself here, I made the same mistake I identified this morning from my rent trade. I see ‘close or fresh ao’ in the rules. I also see some close ao trades that haven’t crossed that workout, others don’t. I Should have seen the AO divergence when I set my PO. That could have indicated the end of the overall move. Also, the trigger candle ended up been a pink dot. Not ideal. Don’t chase trades! BATCH 1 TRADE 3.png
 
 

 

This too is  NOT a setup 1. 

[immy]

Is Tom Trading Setup 1's?

[tombacon89]

MONDAY 13TH DEC LO

Had 1 PO set for EU short.

It was a break of the overnight/morning range. Setup 1 on M1 although not the cleanest.

M5 had divergence already with an old AO though, with a messy sideways move but then a bearish engulfing bar. TZ1 printed on the entry level which is why I then quickly cancelled the PO. The trade triggered and within a couple of bearish bars TZ1 then changed and price went on to fall.. In all honesty I would have been tagged out for a 1pip rent trailing bearish candles... 

I Feel like I missed the entry boat here however, I’m trying to put into practice lessons identified by Immy from last week. Let the range break out and then come back to form a setup one… so that is what I’m waiting on now.

Interested to see what other people did here or their views on taking this one. The TZ1 changing has thrown me a bit. 

EU CANCELLED.png

 

EU CANCELLED EXIT.png

 
 

[tombacon89]

BATCH 1 TRADE 7

EU SHORT SETUP 1

5.8PIP RISK
+O.2PIP
+0.02% - so basically BE.
DS1.

TM Plan. Fractal trail, manual close when price closes ABOVE red line, it came bang on the line and was a rough ride tbh. 5 candle trail if it took off. TP within TZ1 at 2R.

Waited on this one forming and watched it setup. It was a long wait from the initial morning breakout, but learned a lot from watching it develop. Happy. Walking away now, nearly 3 hrs chart time when I planned for 2. But it was important for me to watch this one develop.

BATCH 1 TRADE 7.png

 

[tombacon89]

BATCH ONE TRADE 8 AU M5 SHORT

SETUP 1

12.8pip risk 
-2.9 pips
-0.29%
DS1
TM trailed bearish candles. Or manual exit close ABOVE red line. TP1 was on TZ1 for just less than 2R. 

Felt like I was choking the trade a little bit and not giving it much room to develop, however, that was my pre-determined TM approach and I stuck to it. What I did was reduce my risk from 1% to 0.3%, so I am happy with that; although it has headed south after my exit.... that's ok though, because I feel good knowing price went where I thought it could go. 

I wasn't a fan of the spread on this pair, felt too big whilst in the trade.

It will be interesting to see at the end of the batch when I review my exit TM. 

BATCH ONE TRADE 8.png

 

 

[tombacon89]

BATCH ONE TRADE 9

I sat through LO with my arse on my hands, scanning 6 M5 pairs. Waiting for the M5 impulse move, then was on standby for a pullback. I filtered out some trades this morning. I had my 2 hrs screen time; so walked away. Knowing EURUSD was in an impulse move.

I returned later to see how it was developing. I took the following trade.

EURUSD LONG

8.8PIP RISK 1%
2R AVAILABLE TO TZ1
-4.1 PIPS
-0.4%
TM - FRACTAL TRAIL OR CLOSE MANUALLY RED LINE. OR TP HIT.
DS - 0 explained below

Looked for a setup 1. Impulse move up on M5. We had consolidation but not a pullback on M5. I waited for AO fresh cross and buy signal. We got it at 13:10. PO above M5 high. 13:13, price didn't break and formed a new m1 fractal high. 13:17, fractal low and buy signal. PO moved above new high. Price broke this by a fraction, forming a new fractal high. A new fractal low formed. Price then triggered. SL moved below the new fractal low reducing initial risk. Manual exit on close of red line.

Exit Strategy - happy. stuck to the pre defined rules. DS1

Entry - unsure. Why? POs kept creeping up, I was waiting for the trigger bar to be a nice clean fractal breakout. Looking now, the alligator started to open the further along I moved my POs. So, my entry was an open alligator not a sleeping alligator. Should I have kept my original order, or was I right to move up my POs; until a point where there was no trade due to other rules? DS-1

I didn't take the next signal due to divergence and 2r now not achievable.

Walking away now until tomorrow.

BATCH 1 TRADE 9.png

 
 

[Moderator]

Hey Tom

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[tombacon89]

End of journal. New journal started. TOMS T20 JOURNAL. re hunt method.