Immy's Corner [The Setup The Hunt - T20's and more]

[immy]

Here is a Trade I took on EU, and managed to Document a few pics. Put them together as a slideshow! cheers

[Darren]

Brilliant slideshow Immy, except that I had to record the screen so that I could view it in slow motion! Please post more of these demonstrations of the life cycle of trades - winners and losers!

I have a couple of questions. Do you always trade away from the purple line on the 1 min chart or do you sometimes trade both directions, for instance during NFP, to catch some great retracement trades? Also, would you ever let a move of say, 10 - 15 pips turn into a loser?

[immy]

Brilliant slideshow Immy, except that I had to record the screen so that I could view it in slow motion! Please post more of these demonstrations of the life cycle of trades - winners and losers!

I have a couple of questions. Do you always trade away from the purple line on the 1 min chart or do you sometimes trade both directions, for instance during NFP, to catch some great retracement trades? Also, would you ever let a move of say, 10 - 15 pips turn into a loser?

I trade both ways, but mostly away from purple! Glad you liked it. There a few more in the journal earlier! Cheers

[immy]

Brilliant slideshow Immy, except that I had to record the screen so that I could view it in slow motion! Please post more of these demonstrations of the life cycle of trades - winners and losers!

I have a couple of questions. Do you always trade away from the purple line on the 1 min chart or do you sometimes trade both directions, for instance during NFP, to catch some great retracement trades? Also, would you ever let a move of say, 10 - 15 pips turn into a loser?

Here you go I've slowed it down a bit!

[Darren]

Nice one Immy.

So, would you ever let a move of say, 10 - 15 pips turn into a loser or would you move stops to BE at some point? I know the manual says close the trade on a close below/above the red or green line, but if there was some news that you entered on a 1 minute candle shot up 20 pips and then retraced fully, would you get out at BE even if it handled closed below the line?

[immy]

Nice one Immy.

So, would you ever let a move of say, 10 - 15 pips turn into a loser or would you move stops to BE at some point? I know the manual says close the trade on a close below/above the red or green line, but if there was some news that you entered on a 1 minute candle shot up 20 pips and then retraced fully, would you get out at BE even if it handled closed below the line?

Well First, I don't trade NEWS! I stop trading 10-15 min before Red News. Some news I trade shortly after the news or using my simple News Strategy which I will someday share.

If you see over 10-15 pips on m1, it would be in most cases wise to NOT let it turn in to a loser. It is not good for the mind. But its happened to me, in attempt to stay in it longer so I can catch the bigger wave. Once I'm proven wrong, I then take a small loss nevertheless, I don't let that happen to me often.

and below some more thoughts on EJ today. M5 Chart

[immy]

EUR/USD today.

I think if the ADR of a Pair is Less than 100, it should be traded on M5.

[immy]

A NICE PC with BDC Long after a completed wave. Just for example. 20 Pipper at least

04-02-2013 17-39-34.png

Edit: ~ Follow through


A little later, it resumed its dominant trend which was down. A lovely pattern.

04-02-2013 18-40-44.png

further update.

04-02-2013 19-03-39.png

[immy]

Another observation and a lesson in trading.

[Mdock]

Very nice examples Immy thanks.