mirgi's journal

[mirgi]

Today was not good day for trading. Up and Down. Open and immadiatly closed! I go by rules so rent iwas small ) Good learnig time. Today result is -7+2-7-7-7+1,5+13,5-7=-18,5. We will see tomorrow. I gonna study jurnals to be ready for tomorrow.

[mirgi]

One good trade today.

USDJPY 8.10.2014.jpg

[mirgi]

It was a little tricky day for me. During all day I cuoldn't catch a trade. All time I was hit by SL, but last trade gave me back all losses plus 23 pips. In my opinion I am not patient. I take a lot trades, use a lot charts. so I am not focus on one trade. I think this is a big mistake. It was nice learnig day. Only one good trade for day is enough. :-bd

GER30M1 9.10.2014.jpg

[mirgi]

I lost -49,3 pips today. I traid get some trades by SL 7 pips but at GER I am immediatly awey ). So I tried to get SL on opossite side of AIMS BOX, the same results ), I thing that I take a lot tredes in time when the trade was so joppy. Never mind, If I had't made two big mistakes I will by still in plus in my account ( 106 pips ). Due to I am on account a little minus.
Lessons for me:
1.) Be more patient
2.) Do not make to much trades
3.) more study setup
4.) keep SL -7 ( this is not dizaster)
We willl see next week.
Injoy wekend boys.

[immy]

Mirgi

What you've done is a typical thing most of do. We set a stop loss and its hit so we think lets set a wider stop loss but that gets hit so we think hmmm it would be better to have tighter stop loss instead. This is like AO above ZL and Below ZL going no where. The ideal solution for this is to "Not Count Pips". If you're trading m1, using S1 setup the option is straight forward. Make a Stop loss that is big enough to sustain the usual wave of the market but not so big that the risk gets increased too much but we are lucky with mt4 brokerage you are always in control of your lot size. e.g. these days with high volatility my 7 pip SL does not last. So I will either not trade using 7 pip SL during high volatility periods or I have second solution. Trade with 15 or 20 pip SL and manage my lot size according to that. But I have 3rd solution now. I trade the Fruit . MM for Fruit is different. I shall update that in the fruit topic.

cheers

ps: looks like you're using the strict 7pip SL and Trade management but not applying the TOO BIG box filter. If you don't apply that then your SL has be larger. e.g. if you trade trades when box is more than 12 pips you will have to have a 15 pip SL because when box is big price often pulls back and will easily take out 7 pip SL and then continue in that direction. Use SL to minimise your loss but don't choak your trades. Anyway, the trades that don't breakout immediately into 10-15 pips profit are not my cup of tea.. but Fruit , it alllows me to risk ONLY one candle.

[mirgi]

Thanks Immy for your respond. You have a true. I today cought one nice trade 80 pips. So I had to gou out for relax and engoing very nice sunny day, not to still looking at screen whole day. You heve a tru that when price on DAX is going jump so quick if not mostly go back. It is better to clouse it immediately and coolly waiting for new setup.

I am going study setup. I have all weekend on it.

Thanks and nice weekend

Immy

[mirgi]

Hi,

as I promised I study system again again. B-) I looked on fryday trading, and I find out that system is really super but my head is not good. If I had been followed the rulles, I would have only one small lost but four big amount of pips without stress. Stop and start to be patient and strectly play with rulles. It is not to bad study own trades and see mistakes which I do!!!!!! ( .

Next week show me what I learnt from it.

Ou OU

[mirgi]

GER30M5 28.10.png

Immy this is my M5 screen

[mirgi]

My Fruit T20 Traiding:

1. campaign
SELL Fruit 10:26, SELL 10998,8 -32 (RENT)
ADD ON NOT OPEN
DS 1/0

2. campaign
BUY FRUIT 11:13, BUY 10990,3 +9
ADD ON 11:18 BUY 11002,8 -5 (RENT)
DS 2/0

[immy]

Don't count trades separately. One campaign is ONE trade. so if you have -5 + 10 = 5 then its 5 pip trade. and if you're using FTM %age risk then pip count is useless. simply count loss and win %age.