Mike's Journal MSK185

[Grant]

As promised chart of m5 count

Grant

[msk185]

Hi Grant

Thanks for the detailed explanation, it took me a while but I can see what you mean now, hopefully you got some pips from the move.

Cheers
Mike

[msk185]

Morning All

Having filtered all the possible setups this morning a couple of which went on to make some good moves, I took the setup at 10.50 UK time, alligator asleep AO close to zl on M1 and M5, P5 complete on M1, double AIMS break so PO set at 12973 with target 10 pips away just below the high of the day

Stop moved to b/e after price interacted with daily R1 pivot level and eventually after 37 minutes of effort price hit my stop.

That brings my week to a close, 7 trades taken 1 winner 2 losses and 4 b/e's with an overall result of -0.5%. However only 4 of my trades were valid setups (1 had old AO and 2 the alligator was not asleep or in direction of the trade [-x ) the other 4 should have been 2 winners and 2 b/e with a net result of 2.5% had I kept my exit discipline.

Overall I've really enjoyed my week, I still have much to learn, maybe overfiltering and still need to keep discipline, but thanks to all on here especially Grant and Nick for their help and support.

Todays trade below

Unfortunately family committments will tie me up for much of next week but hoepfully I'll get some chart time.

Enjoy your weekends everyone

Mike

1210 1052.gif

[msk185]

Good Morning

After two days of not trading I took this setup on M5 which was a little off plan as I generally stick with M1 but looked a great setup supported on M15 too, entry was at 13103, move stop to b/e possibly a little early but price broke eventually failed to make my target which was the 60min high and fell back through the red alligator on M5 so my outcome would have been similar.

I have a tricky week for trading this week so will only be able to trade sporadically.

Good trading to one and all
Mike

1710 0752 m5.gif

[msk185]

Took this setup but alas a full 10 pip rent.

The entry setup looked good but I think I held this one too long in the hope it would fall.

Next!

1710 1552 m5.gif

[nickderby]

Mike
I'm sure you'll agree that this trade should have been -3 at worst.
Even after the initial retrace the candle formations weren't bullish but they certainly weren't bearish. They certainly show momo had died.
Making money long term is also about losing as little as possible when it doesn't immediately go our way.
-3 is much easier to come back from than a -10.
-3...in time you will make money... -10 you will tread water and waste the time you spent trying.

" Hope " is not a recognised expression on a trading floor. Skype me as usual if u want.

Best as always,

N.

[msk185]

I took this setup close to NYO, looking to catch possible wave 5 long on M5 on the M1 chart.

Entry signal at 13.02UK time after AO indicated momentum change. Moved my stop to b/e and held it there as it was close to the new aims level and black dot candle. Stop hit so a B/E trade.

Onto the next one now after the news

Mike

1810 1252.gif

[msk185]

Morning all

Took this setup just after 9am UK time this morning, there was a black dot signal at 9.03, but I waited for new aims level to form and break of the M5 level.
PO set at 13059, trailed my stop behind aims levels and then exited when price bounced close to my target of 13047 for just over 8 pips.

Nice way to finish a bitty week. Overall a b/e week but happy with the discipline of my trading just one error this week and that was holding and hoping with a losing trade.

Picture of todays trade below, wishing you all a great weekend. I'm off to London now to a Star Trek convention (birthday treat for my wife - she's the trekkie!)

Cheers all
Mike

1910 0912.gif

[msk185]

Morning all, below is a picture of this morning on M1, I missed 2 opportunities to make 1%, just before LO I had a po short that I cancelled with the DA long at 7.53, for some reason I didnt then place a new order after the red dot at 8.01 which turned out to be the wave 3 short I was looking for earlier.

Then I had another po set at 13037 around 8.45 - there are a seriese of red arrow signals, cancelled this po at 8.57 just before it fell and made a nice wave 5.

Both setups would have made a nice 10 pips or 1% so could have had 2 % this morning.

Feeling both encouraged and frustrated.

Mike

2210 0912.gif

[immy]

Mike!

I think you should feel only encouraged. Frustration does not lead to a joyful spot. I do understand your frustration though. Happens to me as well. But if the markets if you don't accept all that happens, you're not in tune with the universe. So that is why I have this written all over my neurons and infront of my trading desk. "in my world nothing ever goes wrong". Well done for spotting the setups. it happens. we just say NEXT! (thanks Grant)

cheers