Jacques from South Africa's Journal

[Jacques]

Jaques

Soon after the news, if its a setup and risk is low it will be fine to take advantage of the momentum. Herbert explained this very nicely once in his journal somewhere. There a difference between volatility and momentum. If the markets are volatile dont trade, if they have momentum, must trade. When you have too much Chaos being introduced into the market and the market goes violently up and down without a certain direction, it is believed to be high tick/highly volatlie. If however Chaos enters the scene and sets a direction, it goes in one direciton, finds momentum in a steady fashion, get ready to take advantage. btw. Chaos = New incoming information. Every candle that breaks the high or low of the previous candle is = Chaos!

ps: I do not see any 50 pip opportunity on GU today.

Just after the news this appeared on the 5min GBP/USD chart. Close to 50 pips. Would the candles breaking lower everytime then be seen as momentum?

[immy]

Jaques

Soon after the news, if its a setup and risk is low it will be fine to take advantage of the momentum. Herbert explained this very nicely once in his journal somewhere. There a difference between volatility and momentum. If the markets are volatile dont trade, if they have momentum, must trade. When you have too much Chaos being introduced into the market and the market goes violently up and down without a certain direction, it is believed to be high tick/highly volatlie. If however Chaos enters the scene and sets a direction, it goes in one direciton, finds momentum in a steady fashion, get ready to take advantage. btw. Chaos = New incoming information. Every candle that breaks the high or low of the previous candle is = Chaos!

ps: I do not see any 50 pip opportunity on GU today.

Just after the news this appeared on the 5min GBP/USD chart. Close to 50 pips. Would the candles breaking lower everytime then be seen as momentum?

Jacques

I knew exactly what you were referring to. Hence I said I did not see any 50 pip opp. Which means, the price might have dropped or gone up but if my Setup Criteria is not met, I would say, the Opportunity was not there. If you check the disctance between upper aims level and lower aims level on that chart you'd know what I mean. You needed a 50 pips stop loss. However had it setup or formed a new AIMS level close to the lines, then it would have been grea.t But I do not go short in the box.

So yes, if you ignored the Cardinal Rule of keeping your exit close to entry level then yes, there was an opportunity. But that way there are hundreds of instruments that move on a daily basis. Some Setup some dont. The ones that dont we dont take, that one that setup we take.

A Setup is A Setup is A Setup. Now Robert might have gone short somewhere there too, but that was based on another strategy. Based on AIMS on M5, that was not a setup.

If we did not take those things into account then EU M5 was a great setup just before NFP. It did not even hit your stop loss or gave an exit signal, but would you trade it? if its in your trading plan then you would, but if your trading plan says, dont trade too tall aims boxes then its not a setup. Or if it says dont trade before a major new event then you wont.

I hope it makes sense

cheers

[Jacques]

Thanks Immy. I understand thanks.

[Jacques]

Caught this one on the EUR/USD 5 min for 19 pips. Guess I was lucky with the good GBP data. Risk was 13 pips. Had my TP at 1.2322 and the moved it to 1.2327 just before it touched. ~x(

[Jacques]

Took the same trade as Spyros on the EUR/USD 1min and managed to get 25 pips out. Today I made 25 + 19 = 44 pips )

[Spyros]

(wd) (wd)

Once again, well done my friend.

[tombacon89]

fantastic!

[Jacques]

Thank you Gentlemen. And THANK YOU IMMY!!!

[Topher]

Well done Jacques. Two great trades.

[Jacques]

Paid 10 pips rent on this one. Thought that it should go down to test support 1 which I have at 1.2174 ? You win some and you lose some. At least my CHF/JPY and EUR/JPY are in profit so far