Ramy's Journal

[acceleratum]

could be DS0 ? if you dont have that timeframe on your plan its a DS0, dont jump timeframes, I know its tempting to go for all the setups on all timeframes but it hurts in the long run.

[immy]

Unfortunately though ... you're right... its DS0 ... 1. Trading Time Frame used is not part of your trading plan .2 Trading GU without high volatility does not give you a statistical edge, not profitable in the long run. 3. it was not setup 0/1 or 2. ... Where is 3? there was no 3 up before you took the trade. .. 4. There is a black dot before the long breakout ...so no signal 5. It could be a random classic breakout .... thats it..

but suppose it was a good time frame to trade. then a littler later after your trade there was a nice blue dot setu p1 into the Wave 5... pretty good



cheers and hope it makes sense to you

[rsaemy]

Thanks Immy and Pedro and i totally agree it was DS0
Immy, i agree it could have reversed back after the box breakout.
The reason i took that trade because on H1 the chart was Ending W5 down and preparing for a reversal. I took it on M1 to reduce my risk (only 3pips) incase i was wrong.
But yes on M1 there was no W3 to decide where the market was going and that was more of a greedy trade

[rsaemy]

EURCAD trade
Entry was based on The Setup
Was Spotted on H1 but i dropped to M15 and placed my PO

End result was 2R Profit

@Immy: yes EC pair is in my trading plan )

[immy]

i have no idea what is your trade plan. You trade all the time frames and all the pairs. My last comment [Until you clear it for me]
Stage 1: Setup 1 only on H1. Pure and simple. 5 Batches of T20. Hope you understand what I mean. Your account your time ...

[rsaemy]

I trade 10 pairs on H1 chart
I trade the Setup and Hunt
I will read the fruit ebook before the end of the month so i can be in sync with Skype chat room posting
I get confirmation for my trades from the higher time frames to see where i am heading
I look for entry with lower risk on lower time frame (Only if possible)

I hope that clarify things

[immy]

You should trade Setup 1 ONLY using 8 Pairs. Complete 5 Batches of T20. Then you can trade Hunt signals. This process should take you 3 months or so. If you cannot complete 5 batches in 3 months . You can move to NExt Stage where you'd trade Hunt plus Setup 1. 5 Batches of that.
Your way of looking at charts should be exactly the same as explained in the Setup Ebook using the m5/m1 examples. The only differnece is you'd apply it to H1/H4.

cheers

[immy]

No trades on H4 or M15. or any other time frame. Only H1

[rsaemy]

Thanks Immy
I know that you want to the best for me and i appreciate that. I will do my best to do what you said. My circumstances is a bit different because of my work and other stuff going on.
I have been here for about 2 months now and i took several trades that i haven't posted here. All was using the Setup.
If you don't mind, i would like to add the Hunt as well in that stage. I hope that won't offend you.

The following trade i have taken before your note and i am still in it

Pair: GU
Entry was on M15 using the Setup
The reason i won't Shut it because the pair is going into possible W5 on H4/Daily chart

I won't touch the trade although the USD news tonight

Will update my Journal after the trade is finished

[immy]

My son telling me he's bored in Year 2. So I asked him, " what would you like to do? Do you want to go to year 4 and be with your sister". He was excited... I told him in a loving manner that in 2 years he'll be in year 4. "By which time Sarah will be in year 6" he replied with a disgusting look on his face ... oh well.. that's how it goes

You want to jump to Hunt from Setup 1? Your choice. Hunt method = 4 Stages , Its part of HUNT method to do 5 Batches of Setup 1 , its part of Hunt method to go to Stage 2 and then add the hunt signals. Its part of Hunt method to arrive at Stage 3 in that fashion.

hope it makes sense ...

cheers