Mike's Journal MSK185

[msk185]

Hi Immy
Just wanted to say thank you for taking the time to post such a detailed response to my trades. The pictures make perfect sense especially when I look back over the trades I've taken these past few weeks and see which ones met my rules and which didn't.

Maintaining patience and discipline to take only the best setups seems to be my challenge.

Thanks again, have a lovely weekend

Mike

[msk185]

Hi

Maintained patience and disciplne today so no trades taken, I dont think I missed any obvious setups but be good to hear from anyone who took any trades today on EURUSD M1.

I chose to skip the afternoon session as US was on lock down for the storm.

Cheers
Mike

[Tomi]

Hi Mike, there was some movement before London open but at least I wasn't on the charts. Otherwise seemed to be just W4/M5 and ranging market. I learned a lesson from few rents and stay away from buy/sell buttons when W4 is ongoing Good thing you kept your discipline!

[msk185]

My third day now with no trades, am I being too selective? I saw no good setups yesterday or this morning that met my criteria. Unfortunately no chart time for me this afternoon so will be back tomorrow to see if I can see a setup

Good luck with an trades

Mike

[msk185]

First trade this week as I've had difficulty getting chart time and when I have been at the charts nothing has tempted me.

This trade resulted in -8pips, setup looked good DA tight aims levels, looking for wave 5 down to previous lows for 10 pips

Price triggered me in but then stalled at next level, decided to hold onto trade until it broke upper aims level which cost me an extra pip or so of rent.

Ah well not a great way to finish the week but will hopefully come back rested and enthused for next week

Mike

0211 1000.gif

[Tomi]

Hi Mike, I was watching the same thing but decided not to take it. The reason was that M5 was already diverged. Please see the image. Also M5 low visited already in the middle of FE area. The price could very well go down, but this reason kept me out.

20121102_m5_div.jpg

[tombacon89]

Hi mike, i took the same trade on friday and also took the same loss. hope you are recharged after the weekend and focused for next week. good point tomi about the 5min divergence.

[msk185]

Patience and discipline rewarded today with a 10pip 1% account growth trade.

Took the break of M5 and M1 with po at 12808 set target to 10 pips as its been a choppy day.

Held my nerve at previous days high and reaped the reward.

Happy with my trade

Mike

0611 1400.gif

[Tomi]

Hi Mike, that was just about the best setup today! I saw it and was tempted to take it, but didn't as I was making dinner and starting to eat with the kid. So, I closed the computer and "don't look back" Nice trade and glad that someone took the pips!

[immy]

Patience and discipline rewarded today with a 10pip 1% account growth trade.

Took the break of M5 and M1 with po at 12808 set target to 10 pips as its been a choppy day.

Held my nerve at previous days high and reaped the reward.

Happy with my trade

Mike

0611 1400.gif

Mike,

this was the only setup and a good one. A few of us got it. 10 pips = 1 % account growth. Job well done! similar picture in my journal too.

have good evening

cheers