Tom's T20 Journal

[tombacon89]

Hi Everyone,

Tom from Leeds here. (my previous journal has now finished.)

I'm a full time shift worker, I love my day job and have no intentions of stopping that, sometimes I will have 3/4 trading days available to me in a week, others I will have one or two sessions. Trading became an interest of mine a good 10 years ago; and now I've got to where I want in my career for now I think now is the time to start a new focus. Here I am. My hope is to just make some side money in the long run. Planning for the future and all that.

I traded the AIMS setup 1 before, I struggled at first but became better at it with time. I stuck with it for over a year and did start to see some consistency looking at the Setup 1 and 2. MY issue was discipline in the first 6 months. Something which I am already starting to address. 

I have spent some time looking at the Setup 1 again recently, and have been advised by Immy to look into the Hunt Micro method. SO, this journal is geared around achieving that strategy knowledge. I know it's going to take time, and perhaps I need to focus more on setup 1 first, but I am sure that will quickly become obvious within my first batch if I am not ready for the hunt. My mind is open to learning both.

I am welcome to any feedback, good or bad. I can take it! 

Cheers
Tom

[tombacon89]

This morning, was messy. My head was messy. I was faffing with templates, profiles, indicators, and trying to look for hunt setups in between. Bad idea. From now on I will do my admin separate! it only confuses me. I felt the need to converge indicators with setup 1 classic aims style, and the hunt. It just got confusing. 

I need simple. So, I am committing to the simple hunt templates. Hence my profile name 'CLEAN HUNT.' 

This afternoon I came back to see if things were any clearer. And they were. A nice move on GU, which I saw after it had happened. but anyway..

The H1 chart started to really move with a huge bearish candle, so, I looked at 5m and saw a few nice individual bearish candles. clear momentum here. I thought ok, Measure out the wicks with a box first and then see what it looks like on M1. Sure enough. M1 had a couple of really nice hunt setups. 

M5 then did a larger pullback and I thought yep... that's it.... M1 SETUP 1 is forming. And it did. 

Don't get me wrong, I have a LOT to learn. About PO's, what each number alert means and all that stuff but.. for me to see this with my own eyes and has helped me a lot today. It can be easy to get bogged down with too much studying. Sometimes it's best to go walk the dog and come back later.... I have screenshot these so I can look back at them. 
 

THE MICRO HUNT SETUP.png

M1 HUNT AND SETUP 1.png

 
(thanks to emma for confirming that it was correct.) 

 
 

[tombacon89]

TRADE ONE BATCH ONE
16TH DEC 2021. LO
GU - H1, M5 IMPULSE, M1 MICRO HUNT ENTRY
LONG

Questions Before Trade is Taken:

a) How do I feel before setting the order?

Good, comfortable. Happy with the placement of H1 S/R levels. Nice to see the movement and momentum, it's only a matter of time before a pullback. 
b) What is my intuition about this signal or setup? 

From what I know about this strategy so far… this looked a nice clean setup to me. M5 had just had a period of consolidation and a nice breakout from that. I had identified an hourly S/R level. Price was on this level and paused, providing the signal. My entry point was a few pips above this S/R level with plenty of space to move into.  

c) Is this technically The Setup 1?

No this is not a setup 1. This is a micro pullback hunt method. However, a setup 1 is likely to develop after this move.

6. Question After The Trade has been closed: 

a) How Do I feel after closing the trade?

Good. Pleased my first trade worked out.

b) Have I done well and why?

Yes, I spotted the breakout and impulse move.. then watched carefully. My entry was a bit faffy, broker issues. Price too close to the entry and my order wasn’t submitting. Price pulled back and I kept trying to get my order in, I got it set and then price triggered on the next candle and went.

c) Have I done badly and Why? 

Price stalled just prior to 2r at around 1.7R so I moved my BE stop to 1R to lock in. Then SL moved again just below the bearish candle to lock in a tiny bit more than 1R. Probably not necessary as, maybe it was pulling back for another setup (which it did very well.) and I would have choked myself out of the trade? When, I know small pullbacks are to be expected.  

d) What Could I have done differently? 

Let the trade play out from BE, leave SL.
Lock in 1R and walk away from the screen. 
Added on to the position on the next micro pullback signal. (not considering this at this stage.) 
Manual exit close of the dotted line would have provided 2R. 
Trailing Aims Boxes / fractals would have provided almost 3R.

7. DS For this Trade: 1
8. DS Running Total: 1/1
 

TRADE 1 BATCH 1 M5.png

 

TRADE 1 BATCH 1.png

 
 
 
 
 

[tombacon89]

Nothing for me today due to other commitments. Had a quick look at the charts from NEO. Noticed some nice moves on EJ. All made sense when I retrospectively looked back. I will go through the learning material for a few hours this weekend. I will get a fair amount of screen time next week. Returning Monday.

[immy]

TRADE ONE BATCH ONE
16TH DEC 2021. LO
GU - H1, M5 IMPULSE, M1 MICRO HUNT ENTRY
LONG

Questions Before Trade is Taken:

a) How do I feel before setting the order?

Good, comfortable. Happy with the placement of H1 S/R levels. Nice to see the movement and momentum, it's only a matter of time before a pullback. 
b) What is my intuition about this signal or setup? 

From what I know about this strategy so far… this looked a nice clean setup to me. M5 had just had a period of consolidation and a nice breakout from that. I had identified an hourly S/R level. Price was on this level and paused, providing the signal. My entry point was a few pips above this S/R level with plenty of space to move into.  

c) Is this technically The Setup 1?

No this is not a setup 1. This is a micro pullback hunt method. However, a setup 1 is likely to develop after this move.

6. Question After The Trade has been closed: 

a) How Do I feel after closing the trade?

Good. Pleased my first trade worked out.

b) Have I done well and why?

Yes, I spotted the breakout and impulse move.. then watched carefully. My entry was a bit faffy, broker issues. Price too close to the entry and my order wasn’t submitting. Price pulled back and I kept trying to get my order in, I got it set and then price triggered on the next candle and went.

c) Have I done badly and Why? 

Price stalled just prior to 2r at around 1.7R so I moved my BE stop to 1R to lock in. Then SL moved again just below the bearish candle to lock in a tiny bit more than 1R. Probably not necessary as, maybe it was pulling back for another setup (which it did very well.) and I would have choked myself out of the trade? When, I know small pullbacks are to be expected.  

d) What Could I have done differently? 

Let the trade play out from BE, leave SL.
Lock in 1R and walk away from the screen. 
Added on to the position on the next micro pullback signal. (not considering this at this stage.) 
Manual exit close of the dotted line would have provided 2R. 
Trailing Aims Boxes / fractals would have provided almost 3R.

7. DS For this Trade: 1
8. DS Running Total: 1/1
 TRADE 1 BATCH 1 M5.png
 TRADE 1 BATCH 1.png
 
 
 
 
 



 

Hey

Don't playw with multiple exit plans... Keep it 100% strict. 2R target. Move SL to BE at +1R. no fluff... no moving average trail, no box trail. don't do your head-in ... keep it simple. Your job is ONLY to realize its a setup and then set the order. That's it. Your objective is only one thing. ACHIEVE DS1. 

"c) Have I done badly and Why? 

Price stalled just prior to 2r at around 1.7R so I moved my BE stop to 1R to lock in. Then SL moved again just below the bearish candle to lock in a tiny bit more than 1R. Probably not necessary as, maybe it was pulling back for another setup (which it did very well.) and I would have choked myself out of the trade? When, I know small pullbacks are to be expected.  

Comment:
The above is just a way of wasting your neurons....

Do you have statistical evidence that suggests that what you thought you would have done would give you an edge over the longer term? I guess not. so don't waste your time on these trivial details.

Its just our minds tricking us to believe that it is "US" who controls the outcome of the trade.

Just don't entertain the ideas. Take setup, 1R SL, 2R TP, move SL to BE at +1R. Automate this with atm so you don't have to do anything after the trade is in. Your job is only one thing. ACHIEVE DS1. 

d) What Could I have done differently? 

Let the trade play out from BE, leave SL.
Lock in 1R and walk away from the screen. 
Added on to the position on the next micro pullback signal. (not considering this at this stage.) 
Manual exit close of the dotted line would have provided 2R. 
Trailing Aims Boxes / fractals would have provided almost 3R.

Comment: 
Again waste of time and effort. The Method works with 2R target and moving stop loss at BE. it does not require you to do any of the above brain breaking stuff. Hope you get it. 
" 
 
 

[immy]

OUT OF DATE VERSION

Meaning you don't have the correct license file installed... Install thelatest license fil to get rid of this message else you risk getting incorrect signals.
Moreover, if your spread is so big on GU , don't trade m1. Keep at M5.

[tombacon89]

Cheers Immy.

This is what I need. Someone to put me in my place. Correct, no evidence, it was a move based on the fear of giving back profits. Which is wrong. At this stage I just need to be a robot. I will stick to the TM plan now.

[tombacon89]

BATCH 1 TRADE 2

2. Date/Time: 20th Dec 2021 LO
3. Symbol/TF: EU
4. Signal Type / Direction : Long

5. Questions Before Trade is Taken:

a) How do I feel before setting the order?

Non-descript. Wasn’t feeling like it was definitely going to be a winner, but wasn’t anxious about the trade either.

b) What is my intuition about this signal or setup? 

H1 had been in a long downtrend. It had got to an area of support in my opinion and was pulling back with several candles. H1 was in an ascending channel to the upside and H1 had broken out to the upside with a large bullish candle, price closed above the 20ema on H1. M5 had a nice impulse move up, breaking the overnight range. Small pullback on M1, 2nd break. Waited for the 2nd setup as I wanted to see price stay out of the range.  

c) Is this technically The Setup 1?

This is not a setup 1.

6. Question After The Trade has been closed: 

a) How Do I feel after closing the trade?

Happy. Stuck to my entry and exit plan. No temptation to do anything other than SL to BE at 1r.

b) Have I done well and why?

Stuck to my TM rules. Considered higher time frame and then scaled down to see what was forming for scalping opportunities.

c) Have done badly and Why?

I don’t feel I have done bad here. But could have committed to only taking short setups is my only criticism.

d) What Could I have done differently? 

Entry, was 3 pips away. Slightly confused that my chart wasn’t showing the bid and ask.. however, this was just due to a really tight spread on the new broker. I now know that my entry was too far away. But I didn’t know this at the time. Now I know, my entry would have been a lot tighter, around 3.5 pip risk and my 2R would have been achieved on this trade. Every day is a school day.

7. DS For this Trade: 1
8. DS Running Total: 1/2 - 50%

I have removed my DS1 from trade 1 following IMMYs comments.

TRADE 2 BATCH 1 M5.png

 

TRADE 2 BATCH 1 .png

 

correct spread entry point.png

 

[tombacon89]

BATCH 1 TRADE 3
BE
DS1

2. Date/Time: 1600hrs - 1700hrs
3. Symbol/TF: USDCHF
4. Signal Type / Direction : m1 short

5. Questions Before Trade is Taken:

a) How do I feel before setting the order?

Calm

b) What is my intuition about this signal or setup? 

I feel this is good for a short trade. H1 had broken out of a period of tight consolidation to the downside. There had just been an M15 short signal 2 bar pullback which would have been in trade. M5 had just had a 5 bar pullback to the 20ema with a nice bearish M5 engulfing bar. M1 produced a little pullback with enough room for 2r down to the recent hourly low; and 5R so plenty of room down to the daily lows. Assumed w3 peak.

c) Is this technically The Setup 1?

Yes M5 pull back and M1 setup 1 is forming for assumed W5.

6. Question After The Trade has been closed: 

a) How Do I feel after closing the trade?

I believe I took a correct hunt entry; I moved my SL to BE at 1R albeit the tiny spread didn’t get through It touched 1r so that was it for me to move it. I then didn’t bother looking at the trade for about 15mins. Let it do it’s thing. It was either going to be a BE or a 2r. That is the plan. It would have been easy when price started ranging sideways to exit the trade with emotion, but I’m not here for that.

b) Have I done well and why?

Looking from H1 down to find an entry not just getting sucked into M1. But trading M1 with rationale.
Sticking to my exit plan and not letting greed, fear, or any other emotions get involved. I minimised the chart down and did something else once I was at BE.

c) Have done badly and Why?

I don’t think I have done bad.

d) What Could I have done differently?

I traded my plan. Breakout, pullback and correct TM.  

7. DS For this Trade: DS1
8. DS Running Total: DS2/3 66%

TRADED 3 BATCH 1 H1.png

 

TRADE 3 BATCH 1 M15.png

 

TRADE 3 BATCH 1 M5.png

 

TRADE 3 BATCH 1.png

 

[immy]

BATCH 1 TRADE 2

2. Date/Time: 20th Dec 2021 LO
3. Symbol/TF: EU
4. Signal Type / Direction : Long

5. Questions Before Trade is Taken:

a) How do I feel before setting the order?

Non-descript. Wasn’t feeling like it was definitely going to be a winner, but wasn’t anxious about the trade either.

b) What is my intuition about this signal or setup? 

H1 had been in a long downtrend. It had got to an area of support in my opinion and was pulling back with several candles. H1 was in an ascending channel to the upside and H1 had broken out to the upside with a large bullish candle, price closed above the 20ema on H1. M5 had a nice impulse move up, breaking the overnight range. Small pullback on M1, 2nd break. Waited for the 2nd setup as I wanted to see price stay out of the range.  

c) Is this technically The Setup 1?

This is not a setup 1.

6. Question After The Trade has been closed: 

a) How Do I feel after closing the trade?

Happy. Stuck to my entry and exit plan. No temptation to do anything other than SL to BE at 1r.

b) Have I done well and why?

Stuck to my TM rules. Considered higher time frame and then scaled down to see what was forming for scalping opportunities.

c) Have done badly and Why?

I don’t feel I have done bad here. But could have committed to only taking short setups is my only criticism.

d) What Could I have done differently? 

Entry, was 3 pips away. Slightly confused that my chart wasn’t showing the bid and ask.. however, this was just due to a really tight spread on the new broker. I now know that my entry was too far away. But I didn’t know this at the time. Now I know, my entry would have been a lot tighter, around 3.5 pip risk and my 2R would have been achieved on this trade. Every day is a school day.

7. DS For this Trade: 1
8. DS Running Total: 1/2 - 50%

I have removed my DS1 from trade 1 following IMMYs comments.TRADE 2 BATCH 1 M5.png
 TRADE 2 BATCH 1 .png
 correct spread entry point.png
 


 

Three problems
1. Empty 1 is NOT A trade signal
2. Entry is TOOO Far from the entry signal, it should be no more than 1 pip plus spread. if your spread is this big, Stop trading. 
3. Since you did commit a mistake or an error happened this cannot be classed as DS1.