Joel's Journal

[immy]

Trade: B3-T10
Date: 12/28/2018
Pair / TF: DOW M1
Signal Type: S1 LONG

Thoughts and Feelings: I wasn't expecting to trade DOW today but it came alive during that Wave 3 up such in a manner it had wind behind it. It created a very shallow Wave 4 after which I entered at the box break after the blue dot. It was going well at the beginning to the point I thought TZ1 would be hit but it stalled within the striking distance to TZ1. It then reversed to the downside, hitting the BE level.

Overall, I feel good about this trade as I felt I had the EDGE and was following the setup rules as well as ascertaining that the overall pattern was ideal.

DS1
Total DS: 8/10 (80%)
R:R – 1:2 with BE at 1R
Trade Outcome: Closed at BE, so 0R.

R result to date for this batch: +1R

Overall R result: +8R

This was a perfect setup. But its a shame that it went nearly 100 points in your favour and you had your TP at a wrong spot. We play dow differently but more on this later. you're simply doing your Discipline training. so well done.

[raklian]

Trade: B3-T11
Date: 1/2/2019
Pair / TF: EURUSD M1
Signal Type: S2 LONG

Thoughts and Feelings: Shouldn't have taken this good-looking Setup 2 trade as LO hasn't started yet, so obviously it was during a time the market wasn't likely to make big moves. I had NO EDGE there. I acknowledge it.

The H1 did show a big candle breaking through the resistance zone to the left but it was STILL before the CIP time, so it's DS0 for me. Lesson learnt.

DS0
Total DS: 8/11 (72.7%)
R:R – 1:2 with BE at 1R
Trade Outcome: SL -1R.

R result to date for this batch: 0R

Overall R result: +7R

[raklian]

Trade: B3-T12
Date: 1/2/2019
Pair / TF: EURUSD M1
Signal Type: S2 SHORT

Thoughts and Feelings: At the time, I thought it was a good trade into wave 5 but I didn't take consideration two factors: 1) looking at H1, EU was already overstretched in its downward dive, and 2) it was near a significant bottom to the left. Those two things should have screamed to me that there is NO EDGE. I'm giving myself DS0.

Note: The TZ1 at the time of the trade was at least 2:1 R.

DS0
Total DS: 8/12 (66.6%)
R:R – 1:2 with BE at 1R
Trade Outcome: SL -1R.

R result to date for this batch: -1R

Overall R result: +6R

[immy]

Trade: B3-T12
Date: 1/2/2019
Pair / TF: EURUSD M1
Signal Type: S2 SHORT

Thoughts and Feelings: At the time, I thought it was a good trade into wave 5 but I didn't take consideration two factors: 1) looking at H1, EU was already overstretched in its downward dive, and 2) it was near a significant bottom to the left. Those two things should have screamed to me that there is NO EDGE. I'm giving myself DS0.

Note: The TZ1 at the time of the trade was at least 2:1 R.

DS0
Total DS: 8/12 (66.6%)
R:R – 1:2 with BE at 1R
Trade Outcome: SL -1R.

R result to date for this batch: -1R

Overall R result: +6R

This shows to me that you did not drop from H1 to the M1 chart. The Curse of M1 chart is when you stick to the M1 chart. Nope, you want entry on M1. But the trade idea for the 10X pattern can only arrive from H1. Remember DAX m1 is a total different story from EU m1. Both have different volatility and density. H1 does not lead to a m1 trade on Dax, but it does on currencies.

when you have a highly volatility market with huge range like the Dow and the DAX you can stay on m1, and trade i9t on its own. but when you're dealing with a market that moves 300 pips in a month. its totally different.

[raklian]

This shows to me that you did not drop from H1 to the M1 chart.

I did look at H1 and dropped down to the M1 but looking back I did it in the way it shouldn't be used. I reasoned that since H1 price action broke a level to the far left (which is where the bottom-most red horizontal line is) I assumed the pair had plenty of gas left in the downward move despite the fact it had already left multiple long candles in its wake. Afterward, I realized it was a totally, ridiculously illogical conclusion. Well, with the markets, illogical can be synonymous with logical. One can't reason with the market. Anyway, looking at ideal H1/M5 pattern examples, I'm thinking it would be best to hunt for trades close to the breakout levels rather than at Pluto's orbit from the Sun.

Needless to say, my biggest issue at the moment is sticking with the rules. I have a nasty habit of thinking I have the right to take liberties to temporarily alter my trading plan a bit if the "circumstances" demand it. I know there is no such thing as "circumstances demand it". It's all in my head. I know with enough trades in the future, I should be able to get rid of this habit.

[raklian]

Trade: B3-T13
Date: 1/2/2019
Pair / TF: DAX M1
Signal Type: S2 LONG

Thoughts and Feelings: An ok trade. It's got all the elements needed for a Setup 2 trade; however I noticed that after the entry the Wave 5 ended at a significant resistance zone outlined at H1. In the future, I'll need to pay attention to strong resistance and support zones as they are often low-probability trades unless they are broken with a strong breakout.

Immy, what should I have done differently with this one?


DS1
Total DS: 9/13 (69.2%)
R:R – 1:2 with BE at 1R
Trade Outcome: SL -1R.

R result to date for this batch: -2R

Overall R result: +5R

[raklian]

Trade: B3-T14
Date: 1/2/2019
Pair / TF: AUDUSD M1
Signal Type: S2 SHORT

Thoughts and Feelings: This trade is BAD. I felt the urge to trade. Didn't bother to use the 10x method, which resulted in a trade that didn't have much energy behind it.

As Immy once said to me, I say to myself again: a big fat, juicy DS0.


DS0
Total DS: 9/14 (64.3%)
R:R – 1:2 with BE at 1R
Trade Outcome: SL -1R.

R result to date for this batch: -3R

Overall R result: +4R

[immy]

Hi

Since you've asked. The USIndex trade long, on the chart, its just a good setup 1 long. nothing wrong. if you keep taking setups like those the odds will playout.

Then comes the AUD/USD. i won't even comment. Trade the m1 chart on currencies ONLY, ONLY, I repeat ONLY when there is Concrete evidence of Hihg volatility. to date, in my life, i am yet to trade Aud/usd on the m1. hope that makes sense.

[raklian]

Trade: B3-T15
Date: 1/3/2019
Pair / TF: EURUSD M1
Signal Type: S2 LONG

Thoughts and Feelings: On H1, EURUSD broke through resistance box level and created a convincing Wave 3 at M1. I entered at the breakout of the new box after the Setup 2 signal candle. It stalled for a bit before reversing to the downside. This trade could have gone either way. NEXT.


DS1
Total DS: 10/15 (66.6%)
R:R – 1:2 with BE at 1R
Trade Outcome: SL -1R.

R result to date for this batch: -4R

Overall R result: +3R

[raklian]

Trade: B3-T16
Date: 1/3/2019
Pair / TF: DOW M1
Signal Type: S1 LONG

Thoughts and Feelings: A typical Setup 1 trade that didn't work out. NEXT.

EDIT: Due to Immy's feedback about box being too big, I changed to DS0.


DS0
Total DS: 10/16 (62.5%)
R:R – 1:2 with BE at 1R
Trade Outcome: SL -1R.

R result to date for this batch: -5R

Overall R result: +2R