Humpha's big wave journal

[Herbert]

Solid 1 meter swell.

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(rofl)

[humpha]

Not my best trades to date - didn't really follow my rules as no dot, late entry and quite messy looking, just traded the hunch th e AUD/USD would go up with the AO crossing and the NZ/USD would follow. This is the NZ trade - took 3 pip loss to start with and thought it was turning. Got back in after watching it for another hour after late entry and no support from 4hr chart as AO was a long way from 0 line - lucky escape and got 47 pips with exit on 4hr high. Didn't trade much of the week so lacked some discipline and patience here. Will learn from it.

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[humpha]

15-3-12,
Followed the NZ trade as above -messy trade and broke entry rules - simply traded it as hunch it would go up with cross of AO. Took previous 5 pip loss and small 2 pip win prior to this trade - the 2 pip win went 20+ pips and I moved stop loss to break even and just got tagged in retrace only to watch it drop even further - didn't follow my trade management. Still made 1% for th e week on 1 hr candles from 3 nights trading but messy and lacked discipline. I have decided to make 2 sets of rules for 1hr trades - 1 set for with the trend on 4hr and the other for against the 4hr trend. I want a strict rule set for better trading. The above 2 trades does show how powerfull the cross of AO is with or against the 4hr trend. Made 62 pips+, more discipline this week though.

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[humpha]

15-3-12
Made 3 x 1min trades this week. +3, -7, +3. Only traded for 3 nights around 4 hrs each session. Didn't really see much worth trading.

[humpha]

21-3-12
I have decided to concentrate on nailing down a defined set of rules for my 1hr trades and how they coincide with the 4hr - So basically trade the 4hr trend but with entry and exit on 1hr - basically I want them both agreeing on direction for the best probabilities. So on the 20-3-12 watched some good moves on pairs.

Today 21-3-12 the eur/usd and gbp/usd looked to be setting up with the higher 4hr timeframe - basically they went and the gbp was up 30 pips at 1 stage. Then red news came out and I took 2 small loses. I know don't trade red news - I should of shut them down and I would of finished the day in profit. NOTED! gbp/usd loss of 10 pips or .2% . I trail my 1hr trades with a 40 pip stop loss.

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[humpha]

21-3-12
Took this the same time as the gbp/usd trade above - another wave 5 fizzler but happy with trading plan of entering when the 1hr and 4hr are agreeing. Will record the waves and directions for these trades and tighten entry rules further. Small loss of 18 pips - approx .4% - I shut it down once the gbp started to fall.

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[humpha]

21-3-12
Took 1 x 1min trade tonight at 12:24 red dot down - set up 1 - +5 pips. Axitrade Aussie platform time. I think Alpari UK would be 11:24?

Stoked - covered my 2 losses for higher time frame today- so around break even for day

[humpha]

22-3-12
Eur-usd trade 1hr. As decided I am only taking trades where the 1hr and 4hr are in sync - travelling together as such. Read the AIMS book again today and it really does simplify things - I was starting to over think the entry's on the HTF's. It is simple though. Trade in the same direction of the next higher time frame. So here it is. Started well and was crawling up and 10 pips up when medium impact news hit and then the euro fell off the cliff. I was happy though as I followed my new entry rules. 34 pip loss or .6% loss.

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[humpha]

22-3-12
Eur/jpy -bit of an impulse trade here. Overall 1hr and 4hr in uptrend movement but 4hr wave crossing 0. On 1hr purple was down with established wave 3 -waited for candle to cross purple and blue line on 4hr alligator and entered. I had plenty of room to move to 4hr purple approx 130 pips so I would class this as a retrace trade instead of with trend. Made 59 pips, 1.2%. Trade management could of been better as I usually tighten my trail stop to 15 pips past 50 pips (1%) but got distracted with a big bowl of spaghetti bol.

22-3-12 eurjpy.gif

[humpha]

22-3-12
WIPEOUT - missed the big trade wave 3 down - best 1m trade I've ever seen - got to the computer 2 min too late. Wave 4 confirmed. Alligator asleep on m5, po outside 5m aims low ready for wave 5, got triggered, moved sl to +4 above candle entry and then wipeout - got smashed - only to watch it drop on the next red dot which was continuation of wave 5 and possibly what Immy calls a pricipal c 'maybe' anyway 10 pip loss. ?

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