David's journal

[Mdock]

caught wave 5 going down on eurusd this morning. My exit isnt very good but under the circumstances there was no sign the reversal would go this far. How would you guys have handled the exit on the second half of the trade?

Hi, my way is looking at lower timeframes for signs of reversal M5, M15, M30. Hope this helps.

Cheers Mdock

[azadar]

yeah dropping to lower TF to get an exit signal makes sense. Thanks for the feedback Mdock

What I find the most difficult though is how to find the perfect balance point between letting my winners run and protecting my profits. Immy does a fantastic job at that and manages to get huge 100+ pips winners. Hoping to be able to hit big winners like he does.

[azadar]

fruit trade with very short bar on usdcad. Looked like top of wave 3 to me.

[azadar]

turned my last trade around and went long USDCAD. worked out pretty well but my exit was late.

[azadar]

made a mistake with this fruit trade. need to watch AO !

[azadar]

bad luck on this one. SL hit by a few pips then price goes back down

[azadar]

nice little trade. Not sure if It was a good idea to close second half though

[azadar]

Went back to m1 trading but this time on XAUUSD. Was my second day trading gold and I did very well at the beginning. M1 trading is very demanding and requires concentration in order to be profitable. During the afternoon I lost half the profits I made during the morning due to lack of focus (I was exhausted). Lesson of the day: when tired take a break or come back tomorrow!

[azadar]

Took a few months off from trading and now im back. Took 2 trades today on cadjpy since it looked ready for a move to the upside. Went to M1 and made 28 pips. not bad

[azadar]

yeah heres what M5 looked like