Tomi's friendly market journal

[Tomi]

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[Tomi]

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[immy]

Morning trade: +8.2 pips

Difficult time to trade due to limited time in the morning but had some time before all the routines. Turned to a huge trade but got something out of it. Extremely happy with the entry though!

08-Feb-2013
EUR/JPY M1 (UK time)
- 06:35 red dot, possible W5/M1 down, set PO
- 07:01 PO triggered, SL above alligator
- 07:03 morning routines starting, closing manually with result +8.2 pips
Hindsight: turned into a huge trade (at least 80 pips), better solution would have been to move SL to BE and forget it for one hour.

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Tomi This entry is what you need to build upon. We've got to let it run. We've got to maximize our winners. The market has alot to offer. You gotta understand the requirement of the market/pair and play accordingly. You can't do 70 miles/h in streets and you can't do 30 miles/h on motorway. AIMS for 10 pips on EU is ok these days, aiming for 10 on EJ is aiming for 3 on EU. Just a rough comparison. The Opportunity is now here. We must play according to the rules of the market. And the rules of the market are not static linear. They are dynamic and chaotic (in the sense science of chaos). They follow a very complex highers form of order. But the simple way is to take in to account the wavelength of a pair. if a pair does 200+ pips a day and normally prints 10-15 pip candles 8 pips is just BE trade. But It was a good setup. Well done on the Entry Setup. Remember one thing. Its all about Exiting with Profits! How you manage your Exit with Profit is an ART of Trading! Wish you all the best. and a happy day. keep it up! you're doing fine!

[Bettina]

Great setup Tomi ! (wd)
Bettina

[Tomi]

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[Tomi]

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[immy]

Well done! Great Setup! Rinse and Repeat!

[Tomi]

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[immy]

Argh! I tried to hop in to this PC in that very tiny retrace after entry candle but MetaTrader said Invalid stop, Invalid stop. Markets started to move, break the range, the only decent setup so far today and only 10 pips initial SL in EJ!

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The amazing thing is that the best setups always have the tightest box. Thats the beauty of it. This was DA setup. A proper setup with trend confirmed. A PC, well spotted, boosted my confidence. I also Market ordered myself into it. though I posted in the forum quick enough, it was not that easy to have read and get int that fast. haha.

Good observation. pat yourself on the back you had spotted a good one. Remember higher probability setups are breakout in the direction of higher time frame trends.

[Tomi]

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