Dave
That was a great setup.
Are you trading live and if so are you using a full 1% position size?
If so then try with a smaller position size and let them run. Also try moving your sl to b/ e then let it do it's own thing. Take any losses as a training expense
You are spotting the setups and that's the major thing initially you just have to nail those home runs.
Richard
Dave from Sydney's Journal [Awarded Title: the Box-Trader]
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Topher
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Dave
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Re: Dave from Sydney's Journal
Thanks for your comments Richard. I am trading live and I am at 1%. And I completely agree that if I reduced my position size to an amount that is almost insignificant then holding these trades would be a cinch.
I just need to be aware of my body and my emotions while in a trade and focus on the exit signals and not over think it too much. From this day forward all of my trade posts will be accompanied by reasons for exit, and of course those reasons will be THE RULES!
Dave
I just need to be aware of my body and my emotions while in a trade and focus on the exit signals and not over think it too much. From this day forward all of my trade posts will be accompanied by reasons for exit, and of course those reasons will be THE RULES!
Dave
Now, I choose to make a profit in trading.
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Re: Dave from Sydney's Journal
Wednesday 26 September
EU sell for 8.7 pips (SL 8, 0.87%). Nice setup with DA on M5 and SA on M1, as well as my favourite eWave 1-2 pattern. Price also broke a strong trendline on the M5 and was into clear space (i.e. outside AIMS boxes) on multiple time frames.
Reason for exit: Trailing 5 consecutive red candles and then moved stop to above most recent small red candle. I was tempted to exit at the BRN 128500 but wanted to stick with the exit rules. In hindsight, with a trade at +13 pips (1.3%) and price hitting a BRN an exit can still be within the trading plan, it's just the small 4 or 5 pip wins without justification for exit that I want to weed out.
Dave
EU sell for 8.7 pips (SL 8, 0.87%). Nice setup with DA on M5 and SA on M1, as well as my favourite eWave 1-2 pattern. Price also broke a strong trendline on the M5 and was into clear space (i.e. outside AIMS boxes) on multiple time frames.
Reason for exit: Trailing 5 consecutive red candles and then moved stop to above most recent small red candle. I was tempted to exit at the BRN 128500 but wanted to stick with the exit rules. In hindsight, with a trade at +13 pips (1.3%) and price hitting a BRN an exit can still be within the trading plan, it's just the small 4 or 5 pip wins without justification for exit that I want to weed out.
Dave
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immy
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Re: Dave from Sydney's Journal
Dave
You exit based on trailing was spot on. Well Done!
If you set targets around 1:2 or something that would also be good but let Chaos decide is the best!
cheers
You exit based on trailing was spot on. Well Done!
If you set targets around 1:2 or something that would also be good but let Chaos decide is the best!
cheers
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
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Dave
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Re: Dave from Sydney's Journal
Monday 1 October
BE to start the week/month/quarter.... standard S1 at London open but with the BRN and the 5 and 15 min highs to contend with I was happy to move my SL to BE, price came back and tagged me out. NEXT!
Dave
BE to start the week/month/quarter.... standard S1 at London open but with the BRN and the 5 and 15 min highs to contend with I was happy to move my SL to BE, price came back and tagged me out. NEXT!
Dave
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Dave
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Re: Dave from Sydney's Journal
And of course now price jumps... sometimes we just have to laugh (or else we'll cry)! 
) 
(
) (Now, I choose to make a profit in trading.
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Dave
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Re: Dave from Sydney's Journal
But did manage to get a few from the DAX.
DAX long for 20.5 pips (SL 12, 2.05%)
M5 alli freshly opening, and some nice sideways action just before the market open. And trading away from the contained purple line on M1.
Reason for exit: 2% achieved, and it's a public holiday here so I wanted to go for an evening walk with my girlfriend Does that count as a grounded reason for exit?!?!
Dave
DAX long for 20.5 pips (SL 12, 2.05%)
M5 alli freshly opening, and some nice sideways action just before the market open. And trading away from the contained purple line on M1.
Reason for exit: 2% achieved, and it's a public holiday here so I wanted to go for an evening walk with my girlfriend
Does that count as a grounded reason for exit?!?!Dave
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Tomi
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Re: Dave from Sydney's Journal
Hi Dave, just opened the charts and EUR/USD seems to go through the roof. Nice that you got bag of pips from DAX. That really is the best possible reason and otherwise you would have a evening run as you would be in a hurry to come back home to move your SL 
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Re: Dave from Sydney's Journal
Thursday 4 October
Two trades for me thus far today for one winner and one rent....
EU buy for 9.6 pips (SL 8, 0.96%). Just before London open but the setup was too good to ignore. Closed when price faltered at BRN 1.29500, and just before a major market open happy with the result. Closed at 10 pips (1%) but got 9.6 #-o
EU buy for -2.8 (SL 9, -0.28%). Not one of my best entries, not into clear space, and stop loss trailing lower AIMS levels was just tagged out before price went on, so a small loss but very nearly another nice winner. Not to worry.
Dave
Two trades for me thus far today for one winner and one rent....
EU buy for 9.6 pips (SL 8, 0.96%). Just before London open but the setup was too good to ignore. Closed when price faltered at BRN 1.29500, and just before a major market open happy with the result. Closed at 10 pips (1%) but got 9.6 #-o
EU buy for -2.8 (SL 9, -0.28%). Not one of my best entries, not into clear space, and stop loss trailing lower AIMS levels was just tagged out before price went on, so a small loss but very nearly another nice winner. Not to worry.
Dave
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Re: Dave from Sydney's Journal
Hi Dave, the first one was nice even thought for me it would have been filtered out. The second one I took also but the entry was later than yours as I was using previous M1 AIMS level (just because it was so close and tried to be out of whipsaw) and trailing SL due to 5 consecutive long candles, the result was BE (whew)