Tom from Leeds's Journal

[tombacon89]

Finished the week on:

Week 2 pips %
Trade 2 – 1min -6 -0.6
Trade 3 – 1min 0 0
Trade 4 – 1hr 11 0.22
Trade 5 – 1hr -6 0.1

Total pip -1 -0.28%

I took 2 1hr trades this week as a bit of an experiment. I want to look at hourly charts from next week as I know how much potential there is from trading them. My plan is to check the hourly setups at 7, 8 and 9am on 8 currency pairs, trading 1min inbetween. And check the hourly charts at end of day to catch any setups to run through the night.

I am constantly learning on my forex journey and enjoying the challenges every session brings. I am really caught up in this business now and I'm determined to succeed. I take my hat off to all the traders that are consistantley profitable, that is my ultimate goal! Time to refresh over the weekend and get focused for monday morning.

Tom

[immy]

Finished the week on:

Week 2 pips %
Trade 2 – 1min -6 -0.6
Trade 3 – 1min 0 0
Trade 4 – 1hr 11 0.22
Trade 5 – 1hr -6 0.1

Total pip -1 -0.28%

I took 2 1hr trades this week as a bit of an experiment. I want to look at hourly charts from next week as I know how much potential there is from trading them. My plan is to check the hourly setups at 7, 8 and 9am on 8 currency pairs, trading 1min inbetween. And check the hourly charts at end of day to catch any setups to run through the night.



I am constantly learning on my forex journey and enjoying the challenges every session brings. I am really caught up in this business now and I'm determined to succeed. I take my hat off to all the traders that are consistantley profitable, that is my ultimate goal! Time to refresh over the weekend and get focused for monday morning.

Tom

Tom

there is the same amount of potential on any time frames. However choosing a time frame of your choice is the best way forward. What ever time frame you feel comfortable with is important. But you must adjust your Money Management accordingly. Well its simple, 1% per trade and do your money management from the other side of AIMS level. This way you will risk less when AIMS Levels are taller and risk more when they are nice and tight. blah blah. more on this in the book.

Its a good idea to trade H1, in fact I would suggest everyone to try H1 with correct MM and lot size. This way you'd trade M5 and M1 only in the direction of a trade that is already successfully trending in one direction. e.g. you hit a nice trend on EU H1 and you go down to m5 and m1 and everytime it retraces back to the h1 lines you find a setup on m5 and m1 and trade only in that direction with more confidence. just a suggestion. It do this on a regular basis.

cheers and have a great weekend.

[tombacon89]

Hi immy thanks for the comment, I agree with you 100%. Have a great weekend!

[tombacon89]

I missed the first move as I was away from the screen but managed to get in shortly after and take 20pips profit +2%. I had a pending above the 5min level which was hit, I trailed my stop 1pip below each candle after 5 consecutive green candles were formed. I was stopped out at 2% and took profit with an attitude of grattitude. I am now back at my opening account balance since the start of Feb but my knowledge account is growing very nicely =) all comments welcome.

[Herbert]

Excellent Tom. No comments necessary. Just compliments. :-bd

[tombacon89]

Hi all, I missed a nice trade this morning around 8:30 alpari time, I was at the screens I had my entry planned but missed the entry signal, price went on to hit my 2% target.. next.. I took a trade shortly after which turned out to be wave 5, I trailed my stop to break even then sat and observed. I was taken out at break even but that's no problem. There was no other exit signal. I am feeling calmer in trades now and I'm really enjoying trading aims.

Finished the week +20 pips = 2%. Enjoy the weekend!

[Topher]

Well done on a great week Tom

[humpha]

Great work Tom,
I learnt a valuable lesson this week on patience - I have a weekly target of 2%. If I had of been patient and only took the best of set ups that I saw I would of waited all week for that one trade that came on Friday afternoon. Patience is a big part of this. Congratulations on your results.

Tony

[tombacon89]

Morning all, couldn't wait to look at the charts this morning after the weekend. So much so I was up much earlier than normal, read through my daily mantra & checked the news first then turned on pc to see a setup. Order placed and I was in, after 5 red candles I moved my stop to break even. My stop was hit, break even it was. Next ..

[tombacon89]

-1.7pips -0.17% on this trade, I bracketed the ranging movement and was triggered in long. I kept my pending long after the green dot as I felt price could really get going with frankfurt open and my order was above the 60min low. I manually closed the trade when ao turned dark green for a small rent.

All comments welcome.