Sam's H1 Journal - Mock Challenge

[immy]

Trade Number |  7
Pair | EURJPY
Entry Signal | 13-06-22 | 13.00 (Chart Time) 
Risk % | 1
Result | +5R

One of the best trade of year 2022. Pretty much tick all the boxes and since i was early in trend, i dare to put my TP at 5R and went for a sleep. Boy, i woke up with amazing smile on my face. Icing on cake is box indicator which helps with decision making easily. 

Let's run this epic trade through rules. 

Rule 1 - Is there an Impulse Wave ?
Ans - Yes. There were 3 bearish trend candles created nice impulse wave - 09:00, 10:00 & 11:00
Rule 2 - Is the Impulse move climatic ?
Ans - No. 

Rule 3 - Is there a clean one-legged pullback ?
Ans - yes. Crystal clear one-legged pullback. i will take this type of trade any given day. 

Rule 4 - Is pullback Impulsive ?
Ans - No. Pullback candles were small as per rule.

Trade hit the target of 5R. Satisfying with the outcome and happy with my decision to take such a textbook setup. 

Score - DS 1
Setup Score (Out of 10) - 9

 

Great Trade, Perfect Setup 

This is the setup. look at that beautiful clean TC and then clan pullback, nothing to the left, clear as daylight. Compared to our FTSE trade this is the one you should focus on. You have to wait for these to appear but when they do, never go less than 5R. well done.

The pattern here is TTTTPP. My favourites are TTTPP TTTTPP and TTP. The UK100 trade was a 3rd day play lucky one. 
 

[immy]

I think you're ready now. 

You know what it takes. 

Patience and Discipline and believing your system.

When it's strongly trending and stop loss is tight, go for 5R's. When it's relatively mild and stop-loss is a bit wide go for 3R. But mostly try to catch those 5R trades on yen pairs... UJ gives 5R 10R all the time. 

That is the MONEY-making machine... 

You can DO IT... Go for it

Myforexfunds is good. 8% target.  


ps: Since you've made $700 from this challenge, you have actually EARNED the money to buy the challenge. It's profit re-invested. 
 

[immy]

Thank you so much. Still digesting this. I have few questions around myfxfund though. Please let me know when you have a moment. 
Not sure if i should go for Rapid or Evaluation and Account Size etc.

Thanks for everything. 
 
 
 


 

Evaluation.  You already have, in your account the amount of money they offer you for rapid ... lol 
 

[immy]

You are the Star

You have always been the star. 

But M15 and M1 and M5 were NOT for you. It's actually NOT for most people. 

Look at you, enjoying restaurants, enjoying a normal life, yet making 8% off a few trades. 

You deserve to get a $500,000 account and make exactly the same trades. The SYSTEM is fabulous. It works and you know exactly how to use it. 

What I enjoyed is that you have not one it on $1,000 account or demo. You have done it on your own $10,000 real money. And hat means YOU ARE READY to make BIG Money. 

ps: please make that myfxbook
account public and share the link here. 
pps: my only suggestion is to NEVER take more than 2 trades at any one point and reduce pairs to 4 or 5 o at the very max 6



 
 
 
 
 

[Minsk]

Really enjoying H1 trading and now slowly bringing Asymmetric Risk technique. So far account sitting at nearly 12%. Here is the result of past 3 Months. Note that i started challenge half way through not from 1st of month. Those who don't know i am trading on my live account of 10K.
  
 
 


 

Well done SAm! 
You gonna smash that challenge and get yourself a big account.
Posts like this are inspiration to beginners like me, so thank you for sharing
 

[immy]

You stopped journaling and then you started to take rubbish trades

DO NOT STOP journaling. You know, you know that when you stop the journal process you will lose it and give it all back 

I think You're trading too many pairs and risking 2% per trade. (when you go 1% on GJ and 1% on GU its 2% risk) When you go for 1% on three different pairs, that's 3% risk. Simple 

You always had the RISK management problem and allowing yourself to use the 3% risk per trade method will DESTROY your account. 

Do not do that 

2022-07-19_17-31-52.png

 

The BANANA method can give you 5R trades on a regular basis. 1 trade is enough to win the challenge 
 
 I have checked your trades, you're taking shit setups and too too to many pairs.... 

RECORD EVERY TRADE HERE or Prepare to Lose and remain a loser 

2022-07-19_17-37-17.png

 
 Professional Forex traders do not allow 8% month turn into 1% month... 

You have to PROTECT your capital. you can't just unleash yourself and go bonkers... look what you've done to this account? 

From this 


to this 
 

2022-07-19_17-38-52.png