Eric's Journal

[immy]

FOMC 2019.png

[ericsoon]

Thank you very much Immy for posting the schedule of FOMC and NFP news dates for 2019.
Much appreciative.

1. Trade Number: B1-T2
2. Date/Time: 05.02.2019 / 20:00 (MT4 TimeZone)
3. Symbol/TF: USDJPY H1
4. Signal Type / Direction : Setup 1 Long
5. Comments and Feelings at the Time of Taking The Trade: Was feeling confident as the wave looks very a very nice S1.

6.Comments and Feelings After Exiting the Trade: The trade suddenly spike down during State Of The Union address. Could this be the reason?

7. DS For this Trade: 1
8. DS Running Total: 2/2 (100%)

USDJPY - H1 060219 (Lost@0400).JPG

[immy]

Thank you very much Immy for posting the schedule of FOMC and NFP news dates for 2019.
Much appreciative.

1. Trade Number: B1-T2
2. Date/Time: 05.02.2019 / 20:00 (MT4 TimeZone)
3. Symbol/TF: USDJPY H1
4. Signal Type / Direction : Setup 1 Long
5. Comments and Feelings at the Time of Taking The Trade: Was feeling confident as the wave looks very a very nice S1.

6.Comments and Feelings After Exiting the Trade: The trade suddenly spike down during State Of The Union address. Could this be the reason?

7. DS For this Trade: 1
8. DS Running Total: 2/2 (100%)USDJPY - H1 060219 (Lost@0400).JPG

yes that was Trumps Speech and it was marked as RED event on the Calendar. Its a DS0. It is bad risk management to expose your capital high impact events. Its failure on your part especially when the even is a planned event.

[ericsoon]

Dear Immy, noted on your below comments and shall revise my DS.

1. Trade Number: B1-T3
2. Date/Time: 06.02.2019 / 14:00 (MT4 TimeZone)
3. Symbol/TF: DJI30 H1
4. Signal Type / Direction : Setup 1 Long
5. Comments and Feelings at the Time of Taking The Trade: Was feeling skeptical as eWave says already in Wave 5. But since it's a S1 and AO is close to zero, the trade is still taken.

6.Comments and Feelings After Exiting the Trade: The price seems to be ranging and I was stop out 5 pips below my SL. There is a price gap down after market opens on 07.02.2019.

7. DS For this Trade: 1
8. DS Running Total: 2/3 (100%)

DJI30 - H1 060219 (Entry@1400 - S1).JPG

[immy]

Dear Immy, noted on your below comments and shall revise my DS.

1. Trade Number: B1-T3
2. Date/Time: 06.02.2019 / 14:00 (MT4 TimeZone)
3. Symbol/TF: DJI30 H1
4. Signal Type / Direction : Setup 1 Long
5. Comments and Feelings at the Time of Taking The Trade: Was feeling skeptical as eWave says already in Wave 5. But since it's a S1 and AO is close to zero, the trade is still taken.

6.Comments and Feelings After Exiting the Trade: The price seems to be ranging and I was stop out 5 pips below my SL. There is a price gap down after market opens on 07.02.2019.

7. DS For this Trade: 1
8. DS Running Total: 2/3 (100%)DJI30 - H1 060219 (Entry@1400 - S1).JPG

The Setup was on the 4th of Feb. you see the 3 and 4. then price comes and boxes itself with sleeping gator. purple correc.t and then 5 happens.
After you are done. WAIT for new 3-4 situation. THAT IS SETUP 1 - You did NOT trade Setup 1. [its ok with time you will learn WHAT is Setup 1]

[ericsoon]

Hi Immy,

Can you advise my concerns with regards to managing the trades when running into any upcoming High Impact New Event?

1. Day 1 I enter a trade and Day 2 or Day 3 there's a High Impact news to be announced but my trade is still running, what do you you suggest I do with my trade?

2. If I should exit the trade, how long before the enws annoucement will be the most appropriate time to exit the trade?

3. Does the same rule apply regardless my trade is winning or losing? Or is the exit time different between winning and losing trade?

[immy]

Hi Immy,

Can you advise my concerns with regards to managing the trades when running into any upcoming High Impact New Event?

1. Day 1 I enter a trade and Day 2 or Day 3 there's a High Impact news to be announced but my trade is still running, what do you you suggest I do with my trade?

2. If I should exit the trade, how long before the enws annoucement will be the most appropriate time to exit the trade?

3. Does the same rule apply regardless my trade is winning or losing? Or is the exit time different between winning and losing trade?

If trading H1. and you're in a trade, i don't worry about news tomorow. unless the NEWS are FOMC or NFP. in that case will see how profitable is the trade. In your case stage 1. If you hit 2R. you get out. if 2R is not hit and say, NFP is 1hr aay. EXIT but best NOT trade take trades a day before NFP of FOMC. only if you know you will be able to exit before the NEWS
winning losing does'nt matter. The Question is NOT about Tomorrow. Its about TODAY. Don't take a tarde 1-2 hr before the NEWS. e.g. if its NFP at 9.30 am New York time, you don't want to trade before that.