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Entry: Fruit + Momentum Add-On + Box Add-On
Risk: 72.2 P + 75.1 P + 88.9 P
Exit: Initial SL
Result: -77.2 P - 73.7 P - 89.7 = 240.6 P, -1 R - 0.98 R - 1 R = -2.98 R
DS: 1
About the campaign
Trend (sup. Wave) on D1: down (3)
Target on H1: Wave 5 down
Remarks:
Fruit candle was a bit big.
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fxsam wrote:Nothing wrong with your trades. It was inline with D1 trend which was down. The best part is you managed it well and followed the exit rules. This will make you winner in long run. Keep it up buddy. i like to see your H1 trades. If possible, join us in skype chat room, you will learn more. :-bd :-bd
"This will make you winner in long run." - I'll take you up on that, Sam .
Thank you for your input .
EUR/NZD????? why the heck would you trade that on h1? Look at the spread... plus this is NOT a good setup. Are you taking it just because the daily Gator is open? That Fruit bar is way too big. Please stick to Major pairs and onl y3-4 on h1. I only trade UJ GU EU on H1 Fruit. And trade the hot pairs. These days, pound is under pressure so we are monitor it. Euro is also under pressure but not as much as pound.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
immy wrote:EUR/NZD????? why the heck would you trade that on h1? Look at the spread... plus this is NOT a good setup. Are you taking it just because the daily Gator is open? That Fruit bar is way too big. Please stick to Major pairs and onl y3-4 on h1. I only trade UJ GU EU on H1 Fruit. And trade the hot pairs. These days, pound is under pressure so we are monitor it. Euro is also under pressure but not as much as pound.
According your mentioned points:
Spread on this pair is five Pips on average. I never considered this as being "too high", to be honest. But thinking about it, you're right: unnecessarily higher risk and smaller profits, which sums up over time. Will add this restriction to my Trading Plan.
I agree with you about the Fruit bar being too big.
In this case, I looked for down signals on H1, because, in my opinion, trend on D1 was clearly down (Alligator open and price within a Wave 3), too. Together with a possible end of a Wave 4 up on the hourly chart,I decided to take this Fruit.
Perhaps, I'm doing analysis wrong?!
With start of next T20, I'll limit my trading to only a few pairs.
Entry: Fruit + Box Add-On + Box Add-On + Box Add-On + Box Add-On
Risk: 64.7 P + 180.1 P + 196.9 P + 376.1 P + 381 P
Exit: Box trail
Result: 847.6 P + 741.9 P + 719.9 P + 474.1 P + 469.5 P = 3253 P, 13.1 R + 4.12 R + 3.66 R + 1.26 R + 1.23 R = 23.37 R
DS: 0
About the campaign
Trend (sup. Wave) on D1: down (3)
Target on H1: Wave 5 down
Remarks:
Last trade on these exotic pairs, as they tend to be very volatile and Spread is way too high (as Immy pointed me to).
From now on, I'll focus only on the pairs mentioned in my first post.
Missed the Momentum Add-On (DS = 0).
Price had a long way to hit TZ1 of this supposed Wave 5, so I decided that this campaign was worth the risk.
The area around Add-On 3 and 4 were lower AIMS-Level on H4 and D1, too.
As per my interpretation, a break of these could have lead to an extended bearish price movement.
Started trailing Box after upper AIMS-Level was broken and a new one was created (within Stage 3).
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Last edited by ElBarto on 07 Jul 2016, 11:20, edited 1 time in total.
Tomi wrote:Whooa. That's some long lines there. That means that the trades were let just run. You survived two AIMS box breaks also in the start of the trade.
The survival of the first AIMS-Box break was pretty lucky, as SL was near.
The second was, as Immy pointed out, that "don't trail box, yet" moment.
What followed was a nice stepping down pattern, which ATM handled perfectly.
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