Mike's Journal MSK185

[Herbert]

Thanks Grant/Mike. I forgot who i was talking to...... discipline....discipline....
Next break was invalid then?
Herbert

[msk185]

I closed on Red dot, and yes next long move green dot and no new level

Pity

Mike

[msk185]

Another rent trade, mood is very down, increased my stake size this week and so far all rent trades or break even

Got to be doing something wrong but not sure what it is at the moment

Time to take a break

Mike

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[msk185]

3rd rent of the day, took the otherside of the saddle, Immy/Grant what am I doing wrong please?

Mike

[Grant]

HI Mike,

rest assured you are not alone, 2 rents and a BE for me today for -11 pips....

i deleted my PO on the good trade which was just before the US red news... sigh

Looking at your chart i wouldnt have taken the last short as it was slightly against purple. I like it in the aims PA has to break to get me triggered.

Other than mate its baton down the hatches and stick to the plan...

cheers

Grant

[immy]

Unbelievable you beat me to it Grant!

[immy]

ON this particular trade, the thing that was not really cool was that although AIMS Waves shows orange, its not a fresh cross. You took m5 aims level that took your entry quite far away from your current m1 aims level. nothing wrong with it really, other times you'd take such a trade and it would fly. Other factors, London had closed at that time volatility was going down. If you look at h1 or m15 you'd have seen that price was losing momentum to the up side. It cannot go in one direction forever. M5 at the time of entry had no clear trend. The entry was timed with a sleeping alligator on m5 which was good but with a sleeping alligator you must keep in mind that there are whipsaws. Always best to trade when the trend on m5 is confirmed.

cheers

[Julius]

Another rent trade, mood is very down, increased my stake size this week and so far all rent trades or break even

Got to be doing something wrong but not sure what it is at the moment

Time to take a break

Mike

Mike, I also took this 1st trade in your posting. I have a picture of it from a slightly different angle. It really looked beautiful at the time of entry. I was stopped out earlier because it hit my stop loss of -4 pips before entry candle. This beautiful entry candle appeared to be a doji later.

I didn't take the 2nd trade because I decided it is finally time to start sticking to the rules , so on this break out the recent dot was against purple (Grant's reply), in other words - there was no dot... Immy's comment also explained me a lot about this 2nd trade. I had a feeling something was wrong, but couldn't explain.

[msk185]

Hi immy / Grant

Thanks for the supportive comments, despite the time I took the following setupas it had a fresh cross of AO and looked to have a run to the 15/60 min lows where I took a 1% exit to finish my day on a high.

Could have got 2% had I held on but was happy to take profit.

Cheers

Mike

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[Grant]

Well Done mate,

the next trade after a couple of rents is always the hardest to take...

Grant