Mike's Journal MSK185

[Grant]

Hi Everyone

Well nine months since I first started trading and after a summer that has been much disrupted I have decided to put new impetus into my trading from Monday.

So from Monday my new plan is that I will be trading 7.30am until 4.30pm with regular breaks to keep fresh timed to coincide with news releases or after significant moves.

I will only be trading EURUSD M1, following Grants rules with careful consideration given to the trends and price action on M5 M15 and H1.

Initially my stop will be set to 10 pips with a target of 10 pips. Stop will be moved behind the trigger candle once it is complete.

My Target in the first three months is to take only trades that meet my setup rules and all the trades that meet my setup rules.

All help to ensure that I do this will be much appreciated.

My challenge will be to replicate the excellent journal from Tomi by each day posting my analysis of each signal as well as my trades.

My belief is that if I adhere to my pan my account will make profit.

Thanks again for all the help on this forum

Mike

Hey Mike,

Good luck to you.

I will be watching with interest.... )

Grant

[msk185]

Thanks Grant, all input much appreciated

[Grant]

If you post trades (good and bad) i (and others) will do my/our best to critique them all be it in hindsight, but hopefully we can get you consistantly making pips

cheers

Grant

[msk185]

Good Morning
First day of my new trading regime, began early and saw a setup at 6.50ish uk time but was only just at screen so filtered. My "signal" analysis is below.

I took one trade at off the 9.09 alert, but when priced toyed with entry I moved the entry from 12969 to 12968 and then as it triggerred I lost my discipline and exited almost immediately for effectively b/e. The trade then went on to make 10 pips so had I held my discipline then I would have made my daily target.

Be interested to hear if others took this entry ie was this a good entry, also the signal at 8.16 uk time as I filtered this one as per my analysis below.

Dot analysis
6.53 DA short only just at screen so filtered due to M5 showing wave 5 complete. Entry at 12982 would have been quad aims break of M1, M5, M15 and M30. Would have been a b/e trade.
7.15 DA short AO too old and losing momentum
7.20 Red dot AO too old
7.28 M5 and M15 short M1 AO close to zero PO placed a t 12971 below M5 level
7.31 Black dot PO deleted
7.33 M5 and M15 short M1 AO close to zero PO placed a t 12971 below M5 level
7.37 PO still in place
7.41 PO deleted after 7.38 black dot and M5 now showing signs of divergence on AO
8.00 Black dot single Arrow short, M5 unclear, alligator heading long on M1
8.10 light blue dot aims levels greater than 15pips hence exit too far from entry
8.16 DA short but price action showing lots of chop so decided to filter PO would have been at 12971 and AO becoming large before triggering. If taken I think I would have got b/e
8.39 DA short AO old and divergent
8.42 DA short AO old and divergent
8.53 DA short Alligator not asleep or heading short
9.06 DA short PO set 12969
9.09 DA short PO still set moved po to 12968 triggerred and paniced so closed for b/e only to see trade make 10 pips. Lost discipline there.

Trade Pic

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[Grant]

Morning Mike.

That is exactly how i analysed the DA/dots this am until your trade (0909 dot), i had that entry as too close to m5/15 so filtered it...

keep it up
Grant

[msk185]

Thanks for the prompt reply Grant, good to know I'm on the right lines.

I think you were right about that level, I think it was why I got so nervous when it triggerred.

Thanks again
Mike

[msk185]

My second trade today, triggerred in at 1.29475 but closed for tiny profit as I realised I was entered on a pink dot and again paniced and closed early, this time it saved me a rent but I need to work on my discipline.

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[msk185]

Good Morning Everyone
First trade today and a rent of 7 pips, not my best trade to be honest, saw the red dot and change of momentum on AO, however AO was old but thought LO might push the trade down to overnight lows, only just tagged in.

More patience and discipline needed

Mike

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[msk185]

My second trade today and it seems the trading taxman needing paying so -6.5pips

I was looking for the wave 5 move short after this mornings strong move down, I waited to place my order until after GBP news, placed the po 3 pips below the m1 fractal, stop trailed 3pips above aims level but eventually stopped out when price broke new aims level.

In hindsight this was a P3 entry and after sucha strong move I should have waited for a P5 at least.

here is my dot analysis for this morning

7.03 Alligator heading in wrong direction
7.15 DA long but mkt choppy and still within tight overnight range
7.44 Pink dot setup 2 no new level formed
8.04 Red dot AO old but placed order at 12971 in case LO pushed short, triggered and closed after black dot and close above the red line
8.17 Red Arrow but news at 8.30
9.12 DA short pink dot order below new level at 12920, cancelled on black dot and now news at 9.30
9.28 DA short , news in 2 mins, orderplaced after news release as fractal not broken PO 129255 triggerred and stopped at 12932 after moving stop behind new AIMS level
9.54 DA short M5 level too close exit too far if entry below M5 level


Next!

Mike

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[Grant]

Morning Mike,

I havent seen an entry that meets my rules this am yet so some constructive criticism if i may....

Trade 1

1. 10 mins before red news, not a reason for everyone but is good enough for me.
2. AO too old at time of entry

Trade 2.

1. Red UK news
2. Alli (red/green) awake and heading in the wrong direction so needed a fresh AIMS low for entry..
3. once fresh aims formed just after your entry, box was 13 pips so on the max limit for me...

as you said NEXT

Grant