Michael80 Trading Journal

[Michael80]

T12, Batch 1 of T20

GBPJPY, Sell, 24/10/16.
Initial SL: 12pips

Result: Loss, -0.8R

M5 Sell. Alligator sleep. Away from Purple. AO close to ZL, but haven't cross.
H15 Alligator awake, away from purple.
H1 Seed (Although haven't studied the seed strategy thoroughly, assumed it is seed)
Trade management plan: Black diamond
Exit plan: TZ2 or black diamond.

T12. 24.10.16 GBPJPY M5 S1 Start.png

T12. 24.10.16 GBPJPY M5 S1 End.png

Emotional check:
No pain of taking loss.

Discipline check, is it according to plan?
Entry: Yes.
Trade management: Yes.
Exit: Yes, but could be better to make it a smaller loss.

DS = 100%

[immy]

Good journalling so far. keep it up. just wanted to comment on the emotional check. Very good thing you have there. however,
I don't think emotional check should ever show any measurements during demo but few people do feel it there. If that happens to anyone its a clear indicator that more trading on Demo would be required.

ps: delete that rubbish indicator at the bottom. its an indicator about a damn indicator absolutely nonsense in my opinion.

[Michael80]

Yes Sir

Boy, maybe I do need some more demo trading.

[immy]

if trading m5, just look at 1hr or M30. no need to look at 35 time frames.
M5 x 5 = m30. but I like H1. (that is because its in line with something in the market we call "top of the hour moves" "
This is great as it will get you read for h1 trading.

If you asked me "immy, what time frames should I trade, I'd say, H1 and nothing below it"... but people don't give a damn about what I think and that's ok. hehe

[Michael80]

Immy, when you said trade the H1, is it like how ElBarto and Jasmien are trading right now?

[immy]

Yes

[Michael80]

Ok, I believe that will greatly reduce my trades to 2 - 3 per week. I'll take your advise to do that.

[Michael80]

T13, Batch 1 of T20

USDCHF, Sell, 25/10/16.
Initial SL: 20pips

Result: W, +1.3R

H1 Buy. Alligator sleep. Away from Purple. AO close to ZL.
H4 Alligator awake, away from purple.
Exit plan: TZ2 or black diamond.

T13. 25.10.16 USDCHF H1 S1 Start.png

Took partial profit and left remaining position running due to high impact news release. Price spiked after news release and took out remaining position at small loss.

T13. 25.10.16 USDCHF H1 S1 End.png

Discipline check, is it according to plan?
Entry: Yes.
Trade management: Yes.
Exit: Yes.

DS = 100%

[Michael80]

T14, Batch 1 of T20

USDCAD, Sell, 26/10/16.
Initial SL: 45pips

Result: L, -0.7R

H1 Buy. Alligator sleep. Away from Purple. AO close to ZL.
H4 Alligator awake, away from purple.
Exit plan: TZ2 or black diamond.

Mistake: Should have took some profit and move stop loss to breakeven before high impact news release.

T14. 26.10.16 USDCAD H1 S1 Start & End.png

Discipline check, is it according to plan?
Entry: Yes.
Trade management: No
Exit: Yes.

DS = 66%

[Michael80]

T15, Batch 1 of T20

EURJPY, Sell, 27/10/16.
Initial SL: 16pips

Result: L, -1R

M15 Buy. Alligator sleep. Away from Purple. AO close to ZL.
H1 Alligator awake, away from purple.
Trade Management: Black diamond.
Exit plan: TZ2 or black diamond.

Although I said before that I would take H1 trade only, but I can't resist this M15 entry opportunity.

T15. 27.10.16 EURJPY M15 S1 Start.png

Stop out, hesitated to close the trade after black diamond appeared, hence loss with 16pips, otherwise stop loss can be reduced to -0.5R.

T15. 27.10.16 EURJPY M15 S1 End.png

Discipline check, is it according to plan?
Entry: No
Trade management: No
Exit: No

DS = 0%