MichaelC1234 Journal

[Grant]

Perfect, perfect perfect...

Take that pic and frame it, thats the ideal set up..

Well Done

Grant

[MichaelC1234]

First set up I have had today, perfect cross of AO , exited for + 15 pips as momentum started to drop , plus not this morning seen many moves more than 15-20 before a retracement
+1% . . This system is really teaching patience !!!

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[Grant]

(wd) (wd)

[MichaelC1234]

second trade + 6 Any comments welcome. Trailed candles , stopped at take out of candle. Two out of two today , want to get the "Hat Trick "

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[Grant]

HI Michael.

Just one comment/question really.

When trailing candles do you use a buffer above/below the candle?

In this trade was a great idea not too, but more often than not PA tests the high/low and then continues in the direction of the trade..

cheers

Grant

[moty]

Hi Michael
Rather than draw lines in the entry and exit of a trade, try the following method:
Click on the Account History tab at bottom of the MT4 platform. With your cursor, highlight one of your closed trades, then click and drag it to your chart. The entry and exit points of the trade will then be plotted on the chart.

[MichaelC1234]

Hi Grant, Thanks for the comments , On this trade as there were so many red candles I trailed the take out of the body of the candle , plus today has not seen too many sustained moves, Will certainly start to implement a pip buffer in future to allow the price to retrace without hitting the stop.
Thanks Michael

[Grant]

Michael,

This is why i love journals and reading other traders perspectives on trades and management...

Trailing candles is a great concept, but trailing candle bodies if there are say 7 or more same colour in a row would be an ideal way of locking in more profit than a normal candle trail....

Thanks for the idea, its definately something to look at...

Grant

[MichaelC1234]

First Trade on the new V5 and 1% , must be a good Omen. Had target set at 13 , forgot to move so could have had more but pleased with the start to the day .

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[Grant]

Morning Michael,

It was a great set up for sure... Just be aware that it triggered right on a red news release....

It worked this time which is great.

cheers
Grant