Tom from Leeds's Journal

[tombacon89]

I sat on my hands all morning, watching the clock debating wether I had long enough to enter before going to my day job. This one paid off, 12 pips from a 7.5 pip stop. I had a 5pip trailling stop on this trade and was stopped out at 12 pips. More than happy to take that. Hope you all got some big pips today.

[tombacon89]

I went through the motions a bit this morning and imho got luckly. Bias still long for me, took this black dot trade and held my stop at full risk. I tried to close on the red and pink dots but kept getting requoted. Luckily I wasn't tagged and managed to stay in the trade. when price moved 0.5% in my favour I went to BE, I was thinking of manually closing after the 11:23 bar as this was a sign of market slowing down. GBP Red News was approaching and I stayed in as I was at BE anyway. I had cancelled an order just before on cable short which was at this point flying in profit without me,(and is around 2% and still falling as I type) maybe this kept me in euro i'm not sure... Time to call it a day, regain my focus and not give away the profit I earnt earlier in the week. Good luck with the rest of the day

[immy]

I went through the motions a bit this morning and imho got luckly. Bias still long for me, took this black dot trade and held my stop at full risk. I tried to close on the red and pink dots but kept getting requoted. Luckily I wasn't tagged and managed to stay in the trade. when price moved 0.5% in my favour I went to BE, I was thinking of manually closing after the 11:23 bar as this was a sign of market slowing down. GBP Red News was approaching and I stayed in as I was at BE anyway. I had cancelled an order just before on cable short which was at this point flying in profit without me,(and is around 2% and still falling as I type) maybe this kept me in euro i'm not sure... Time to call it a day, regain my focus and not give away the profit I earnt earlier in the week. Good luck with the rest of the day

Tom

11.17 was a proper entry long. I missed but Grant took it, and it turned into a tiny rent. Paying rent is ok but you don't have to be in a trade for 30 minutes if you keep getting exit signals again and again. So I guess you were lucky, but so what, its just another trade. cheers

[tombacon89]

Cheers immy. I'm currently reading a bill williams book called new trading dimensions.. I think you will be familiar to it. I have another 2 to read after this, so my trading will no doubt be much improved after. As everything in life is a fractal I'm getting ready to take the next break!

Just had a small profit on euro but that's me done for today.

[tombacon89]

I went short on cable this morning. I held out on the blue dot and would have exited on price closing above red line. Fortunatley price continued short, I manually exited the trade based on the 2 small doji candles, it seemed a logical place to take some profits. Had I been not going for 1:1 here I had targetted the 240 low as the next possible s/r zone. It's amazing how often these trades run on and are attracted to these zones.

[tombacon89]

Patience paid off here, I managed to get a pretty small SL of 7pips. Targetted the 60 low. Spread didn't quite get through target which was just above the 60 low. But I managed to take 4.7pips = 0.67%. I know in relation to the moves on euro and cable my profits were small but it's all good, i'm happy to have been able to profit from the markets today.

[tombacon89]

I haven't been in tune with the markets at all this morning, I jumped in like a 2 footed slide tackle and I took a full 1% loss at the start of my session, trading a price action strategy I am using to complement the aims strategy. I totally disregarded discretionary rules and entered because I wanted the market to go where I wanted it to go.. wrong attitude.

My session lasted all of 15mins this morning and I decided to spend my morning doing some constructive reading re trading. I came accross this quote that got me thinking and wanted to share it..

'Do Not let yourself get in the way of your profit producing tools'

[tombacon89]

waited for this one all morning

[tombacon89]

looking for w5 short. went to exit on candle closing above red line. -1%. time to call it a day

[tombacon89]

Overall for my 2 strategies (19 aims and 3 other) I was just under the wrong side of break even for jan so this trade is a nice start to february. using price action on m15 I knew cable was due to come back and test some levels. I had an entry on m1 aims and went for it. I am having a few technical issues with an ea i'm using and I was put in the trade 2 pips later than I wanted. I went to BE when price got through the 60 low. I targetted the 60 high at 1.5% away from entry. The 10.30 1min bar was a signal to me price was slowing down / looking to reverse. I trailed this candle and was stopped out 2 later. 0.6% was the outcome. Happy with my trade management on this one. Rinse and repeat.