Tom from Leeds's Journal

[immy]

Well Done Tom!

It does not matter what is your grand total for the day. What matters is , were you in tune with the market today? i.e. Did you trade the setup? these are the only valid questions.

When you have a loser have a quick analysis, and ask simple question, did I follow the rules? if yes, well then, well done and move on.

hmmmm, You might want to ponder a bit longer during the very early stages, just to see that you understand the setup well. But when you're sure that you have mastered step 1, that is recognising the setup, i.e. you have nailed the Entry Setup technique, which comes with experience, which means repetition, making entries on correct setups again and again and again. So once that is done, you're on your way to be disciplined. but then again one must keep in mind that if you find yourself breaking a rule 1 out of 100 times, you cannot call yourself disciplined. (by definition) Discipline and Patience is the key.

Well Done and carry on... may the pips be with you!

[tombacon89]

Thanks Immy, I feel like I can pick out entries and feel confident with that, and when I'm in trades I feel comfortable and not stressed. But i do fall into a bit of a habit that when I'm on a day off from my day job I almost expect the market to produce more setups and I find myself engrossed in the charts almost hunting down trades. (but sticking to the rules) That is where my discipline gets tested. I much prefer trading for a couple of hours in the morning then im done trading for the day when I go to work. I feel really focused and in the zone for a couple of hours. I think I need to stick to sessions of trading hours where I can concentrate and stay focused, and on days off where I trade just enjoy the time off between sessions rather than expecting big things. 2mro is a new day so we shall see what it brings!

[tombacon89]

I took a 0.4pip loss this morning going long on the euro. I didn't close the trade manually with the AO turning dark green as my stop at that point was at -1.6 pips. I felt risking the 1.6pips was worth seeing if price could break the new high it had made. I trailed my stop loss accordingley to 0.4 of a pip to break even and was taken out at that. Happy with my trade management and felt relaxed throughout the trade. Done for the day now all comments welcome.. Next =)

[tombacon89]

-4.8 pips on UsdJpy, followed by -9.3 pips on euro. no more trades for me this week but I will observe and see out my morning session. having a little run of losers recently but I won't let this bring me down. if i see a setup, i trade it.

[immy]

My 2 cents worth

I'm sure you know what went wrong there on UJ, but the one of EU, as I see it now, could have been avoided, nevertheless I paid two rents around that area. It was LO which makes me wanna trade more. Anyway, I got the breakout later which covered the rents. Well done on taking the trades and dont forget to learn from your mistakes. Trading like anything else requires practice and only Perfect practice makes perfect. But I'm sure you knew that already.

[tombacon89]

Hi all,

I have been totting up my trades and analysing them tonight after a little run of losers. After 3 months of trading aims part time I was down 0.8% from 29 trades. Now trading my 4th month I have taken a total of 35 trades, 10wins, 22 losses and 3 break evens. I am currently -4.24% down trading aims 1min after 3 and 1/2 months. I don't know what that is like compared to other people starting out?

I see the success people are having from aims and it is keeping me positive and somewhat inspired, I'm constantly learning from other people's journals and comments on my journal so hopefully I can find my rhythem with this and start to turn the corner and get some nice trades under my belt. I know it will all come together in time!

Hope this week brings us all some pips!

Tom

[tombacon89]

Hi all, watching eurusd and audusd today. no trades for me this morning. I came back fresh in the afternoon for nyo. filtered the red dot which came just before the big move down AO looked pretty worn out to me. after the downwards move i waited for a retrace back up. sore what i thought was a setup on both pairs so i traded them on both pairs at 0.5% risk. -10 pips on each trade. not too sure what i'm missing here. next

[Bettina]

Hi Tom,

it was too early to go short again, M5 probably would have told you. After a big rush down, one ZL cross is mostly not sufficient. Did you see Snorms W5 pic ?

Good luck for the next one
Bettina

[Herbert]

Yeah Tom. A pity. As we can see afterwards, the purple line is the W4>>W5 overlord...

[Grant]

Hey Tom,

you were not alone, several of the AIMSters (Immy and I included) took that trade....... Was it too early, in hindsight yes it was, in real time was it a setup, yes it was.

I do have 1 question though, our entry was as the break of AIMS at 1.2788, yours looks a touch lower, m5 level was at 1.2770 so am just curious as to the placement of you PO.... Not a criticism just me being nosey...

Regardless of your entry when you look back in your daily trade review the question then becomes did i manage it properly.... Judging by your pic then yes you did.

I also hope it didnt stop you trading the next set up that paid some pips....

cheers
Grant