Grants Journal [Awarded Title: Guru of the Gurus]

[Grant]

HI Franky,

i will try my best......

when speaking about price in forex the bid price is the main one, for what reason i have no idea.....

considering a long trade first and using whole numbers only....

we are long from 1.2850
our trigger candle SL is at 1.2843

so to get into a trade we are triggered by the ask price (higher one) and once we are long we work with the bid price (lower one) for getting out at either SL or TP

now the trade goes our way and an aims low forms at 1.2860 so we move our SL up to 1.2857 (3 pips below). In order for the bid price (lower one) to hit our SL it has to break aims by 3 pips.

Now for shorts:

we are short from 1.2850
trigger candle SL at 1.2857

so this time we have to take into account the spread. the bid price (lower one) triggers the order and then we work off of the ask price (higher one) for the TP and SL...

the trade moves in our favour and creates an aims at 1.2840 so we move our SL down to 1.2843 (3 pips above)... In order for our SL to be hit the ask price has to break aims by 3 pips but at the same time the bid price breaks it by 1.6 (my spread)..

i hope i explained this right, i know what i want to say but writing it down is tough... lol

i even got Imran to read it before i posted it... lol

cheers
Grant

[moty]

Hi Grant
If I understand your explanation correctly, your SL in LONG is different (by the size of the spread) from the size in the case of SHORT.

Am I right?

[Grant]

yes Moty correct

[Grant]

Hi everyone,

Where to start….

I haven’t needed the mirror for a long while but will have to search it out over the weekend. For the first time in a long time I got caught revenge trading. Basically trade 2 pissed me off so trade 3 handed me my arse. Mother forex teaching me (again) that she is the boss…..

I will aim a stern word or three in my direction..

Other than that debacle I actually ended the day up by a few…

Todays trades were :

1. -3.6
2. +4
3. -8
4. +11

Total : +2.1 (0.16%)

Trade records including pics are posted below.

As for the week, it seems that the markets didnt play ball for a good while this week which I’m putting down to an xmas hangover… lol. I Finished at +40.7 (3.13%)

Have a great weekend!!

Cheers
Grant

[franky]

i hope i explained this right, i know what i want to say but writing it down is tough... lol

i even got Imran to read it before i posted it... lol

cheers
Grant[/quote]


Thanks for your help Grant. Understand now.

Have a great weekend.

Franky.

[Grant]

Hi everyone,

Very poor liquidity today as Tokyo and NY were closed, still I tried from LO til just after London lunch. Here’s hoping for some better trading conditions tomorrow.

Todays trades were:

1. -4
2. 0
3. +5.6

Total +1.6 (+0.12%)

Trade records and pics below
Cheers
Grant

[Grant]

Hi everyone,

I’ve had better/luckier days….. I seemed to pick all the instant reversal trades today and not be at my pc for the decent ones (FO and NYO).

As I have said before tomorrow is another day.

Todays trades were:

1. -5
2. -4
3. -5
4. -3
5. 14
6. -4

Total -7 (-0.53%)

Trade records and pics below

Cheers
Grant

[Warren1960]

Hey Grant

Thanks very much for your consistency and transperancy. I always look to your journal for guidance and to help me see how it's done.
I did not take any trades last night as I am getting super cautious. I found it hard to follow the the EW last night - do you think it get out of rythum sometimes ?

Cheers
Warren

[Grant]

Hiwarren,

yes some days on the m1 and m5 there is no telling where abouts in the count we are.

That being said try not to focus on EW too much, although we are looking to trade impulse waves EW plays no actual part in our entry criteria. The set up as we have it gets us into these potential impulse waves, hence in the PDFs i say looking for an impulse up or down.

hope this helps

grant

[Herbert]

Hi everyone,

Was off today again and traded from London open through to mid pm London… Some nice trades today and no cock ups which is encouraging… lol

Todays trades were:

1. +15
2. +16
3. -7
4. +15
5. -4
6. +15

Total : +50 (3.84%)

All were pretty straight forward set ups, but again any questions feel free to ask

Trade records including pics are posted below.

Cheers
Grant

Hi Grant. Looking through your trades. Thanks for the consistency making it easy to learn. I notice few trades where purple was not correct (using your discretion), but trade successfull. I do not see a purple on your screenshots, can i assume it is the orange??

Regards
Herbert