Wed 16 Jan
Stuck at work so nothing for me, really need to find time to trade, this week is frustrating me!
Dave from Sydney's Journal [Awarded Title: the Box-Trader]
-
Dave
- AIMSter
- Posts: 865
- Joined: 13 Feb 2012, 06:05
- 13
-
Dave
- AIMSter
- Posts: 865
- Joined: 13 Feb 2012, 06:05
- 13
Re: Dave from Sydney's Journal
Last week was just the one rent, -2.5 pips. I feel lately like my trading has really wained. Time to go back to basics, trust the setups, just get on with it really. Ive been at this long enough that I know what to do so action is required! Lets see what today brings.
Now, I choose to make a profit in trading.
-
Dave
- AIMSter
- Posts: 865
- Joined: 13 Feb 2012, 06:05
- 13
Re: Dave from Sydney's Journal
No trading for me tonight:
1) I missed the bomb at LO across the markets and I'm not chasing it.
2) Djokovic is on and I'm distracted
I am however going to study my new Little Book of Inspiration while watching the tennis. Hope someone got some pips!
Dave
1) I missed the bomb at LO across the markets and I'm not chasing it.
2) Djokovic is on and I'm distracted
I am however going to study my new Little Book of Inspiration while watching the tennis. Hope someone got some pips!
Dave
Now, I choose to make a profit in trading.
-
Dave
- AIMSter
- Posts: 865
- Joined: 13 Feb 2012, 06:05
- 13
Re: Dave from Sydney's Journal
No worries, Sam. Hopefully it'll improve from here and make better reading!
We had some news at work today that our location is changing which means a much longer commute for me and a serious disruption to the life plan. So this has given me added motivation to get the forex dream well and truly steaming ahead. So hopefully lots more dedicated screen time, no distractions from the tennis etc. and not necessarily trading more, but making myself available to trade more. My extra commute will affect this but a couple years of dedication and I'm on my way.
So to recap....
- I trade the break of the first fractal outside the M5 alligator's mouth;
- I manage and add to these entries using the M1 timeframe;
- I am less concerned with the "perfect" M1 setup and more focused on price moving out of the mouth and away from the balance line on M5;
- With reference to the above point, I still want my stop to be close on an M1 level so this will exclude a few entries;
- I know I may pay a couple extra rents but (assuming screen time and focus) I will rarely miss a trend that starts from within the mouth of the M5 alligator;
- Once the market is trending I revert to standard M1 setups in line with the overall trend.
Dave
We had some news at work today that our location is changing which means a much longer commute for me and a serious disruption to the life plan. So this has given me added motivation to get the forex dream well and truly steaming ahead. So hopefully lots more dedicated screen time, no distractions from the tennis etc. and not necessarily trading more, but making myself available to trade more. My extra commute will affect this but a couple years of dedication and I'm on my way.
So to recap....
- I trade the break of the first fractal outside the M5 alligator's mouth;
- I manage and add to these entries using the M1 timeframe;
- I am less concerned with the "perfect" M1 setup and more focused on price moving out of the mouth and away from the balance line on M5;
- With reference to the above point, I still want my stop to be close on an M1 level so this will exclude a few entries;
- I know I may pay a couple extra rents but (assuming screen time and focus) I will rarely miss a trend that starts from within the mouth of the M5 alligator;
- Once the market is trending I revert to standard M1 setups in line with the overall trend.
Dave
Now, I choose to make a profit in trading.
-
Dave
- AIMSter
- Posts: 865
- Joined: 13 Feb 2012, 06:05
- 13
Re: Dave from Sydney's Journal
Well this is an interesting post given my previous one.... but after three trades and a net result of 8.6 pips I'm going to enjoy Federer v Tsonga. Cya at NY.
You do not have the required permissions to view the files attached to this post.
Now, I choose to make a profit in trading.
-
immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 14
Re: Dave from Sydney's Journal
Dave
Nice EJ Trades! EJ, My Princess, has been my favourite pair these days! I'm trading EJ as long as it lasts!
cheers
Nice EJ Trades! EJ, My Princess, has been my favourite pair these days! I'm trading EJ as long as it lasts!
cheers
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
Nitin
- Free Member
- Posts: 161
- Joined: 11 Feb 2012, 17:10
- 13
Re: Dave from Sydney's Journal
Yes true Immy. I witnessed some very good trades on EJ but unfortunately my broker doesn't allow me to place a po if price is nearly 5 pipsimmy wrote:Dave
Nice EJ Trades! EJ, My Princess, has been my favourite pair these days! I'm trading EJ as long as it lasts!
cheers
that is really weird when I watch the trades unfold in front of me but I couldn't take it. This makes trading EJ harder for me otherwise It would be a good deal for me. Any suggestion are really appreciated. Thank You Regards
Nitin Raj
-
immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 14
Re: Dave from Sydney's Journal
NitinNitin wrote:Yes true Immy. I witnessed some very good trades on EJ but unfortunately my broker doesn't allow me to place a po if price is nearly 5 pipsimmy wrote:Dave
Nice EJ Trades! EJ, My Princess, has been my favourite pair these days! I'm trading EJ as long as it lasts!
cheers
Regards
Nitin Raj
I know what u mean
Thanks to our lovely friend Herbert my fav broket is pepperstone they give u true ecn raw spread less than 1.5 on ej and .1 to .5 on eu and minimum deposit in dollars is also not that much i love it
Cheers
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
Dave
- AIMSter
- Posts: 865
- Joined: 13 Feb 2012, 06:05
- 13
Re: Dave from Sydney's Journal
Last week was interrupted... again! No trading on Thurs due to work and we just had a long weekend here so I was travelling on Friday. Anyway, just the 3 trades for the week, 2 winners and a loser for +8.6 pips.
Let's see what today brings, markets already on the move!
Let's see what today brings, markets already on the move!
Now, I choose to make a profit in trading.
-
Dave
- AIMSter
- Posts: 865
- Joined: 13 Feb 2012, 06:05
- 13
Re: Dave from Sydney's Journal
To put it simply, my trading has completely gone to shit. I need to go back to the start and reassess everything, starting with micro lots and nothing but the rules. Hopefully this is the bottom and its only up from here.
Now, I choose to make a profit in trading.