Moty`s Journal [Awarded Title: Samurai Sword Fruit Chopper]

[moty]

First trade, rent -6 pips.

[moty]

First trade today, +3 pips

[moty]

2nd trade -3 pips

[moty]

Hi All
First trade today and again loss (-8pips)
A lot of discipline, a lot of patience, but the results really bad, around 20% success rate.
Would love to helped, because I really desperate.

[moty]

Hello everyone, summer vacation is over and it's good time to returen and share my Journal with you.
first trade of the week, -4 pips rent.
I'd love to get your feedback / comments

[Kyle]

Hi Moty,
In all, I think the trade was valid. It is just what management you take with the trade. I am pretty conservative myself, so I might have moved S/L to BE towards the peak of the wave, but that is all in a persons preferences. In effect, that would have made a BE trade, but I think it is just one that you take and look forward to the next one.

Kyle

[Topher]

Moty

From my observations there were two key elements that would have kept me from taking that trade or at least exiting earlier. The first and most important for me was you were trading straight into a support zone which was about 10pips below your entry. That would have been a good point to take profit or at least protect your trade by moving to be.

The second point was that TZ1 was about 6 or 7 pips below your entry again limiting the potential downward movement of the trade.

These levels don't always hold and sometimes the price smashes right through them but more often that not it respects them by either bouncing off or pausing for a while. On M1 and M5 these bounces and pauses more often that not take out our sl, therefore, they need respecting.

I hope you don't mind me making these comments Moty. I simply want to give my opinion and help you.


Richard

[moty]

On the contrary, Richard, I am glad and thank you for your wise comments, and thanks also to Kyle

[moty]

2 nd trade this week +1.1%

[Topher]

That looks like a very good trade to me Moty.

Richard