T20 1

[Rols]

Hello
My names is Rols - I'm from Australia and this is my first complete set of T20 trades using setup one. I have used daily/weekly and 4hr/daily time frames because it is a time that suits me. I have included a chart of both TFs so that I could relate the shorter TF to the higher TF - I have already completed all charts and will try and improve my DS each set I do. I intend to complete 5 T20s. I will add a copy of my trade plan after this set is ready to post. i WILL POST THE FIRST 5 ONLY AT FIRST SO WAIT FOR FEEDBACK ON MY STYLE.
As the follow ups show, that my target zones were often reached but I had already exited. My trading plan will be addended to show a consistent approach. My DS score was low due to not having clear guidelines on my exits. OTHER TIMES I ENTERED EARLY, WAS STOPPED OUT AND DIDN'T TAKE THE NEXT ENTRY WHEN IT FORMED - I DON'T KNOW WHY.
This journal will continue soon - in future T20s I will complete the chart and journal entry cumulatively.


Here are links to the first 5 T20 trades - T1 to T5. I'll add the rest as I do the follow up:

T1: https://www.mql5.com/en/charts/8999926/ ... up-limited


T2: https://www.mql5.com/en/charts/8999969/ ... up-limited


T3: https://www.mql5.com/en/charts/8999981/ ... up-limited


T4: https://www.mql5.com/en/charts/8999991/ ... up-limited



T5: https://www.mql5.com/en/charts/9000120/ ... up-limited

Thanks. Rols

[immy]

Hi

Great job on starting your journal. Just to let you know you can add those pictures using the img command. You'll see the image path below the picture on the mql5 link you've added. e.g. I copied this one https://charts.mql5.com/18/912/eurchf-w ... imited.png

Now use the "insert Image" button. to get the img BBCode then put hte link inside img and /img codes to get the following

[Rols]

THANKS IMMY - NOT PERFECT BUT DOING THE JOURNAL IN RETROSPECT HAS MADE ME LOOK PRETTY ORDINARY ON WHAT COULD HAVE BEEN MUCH BETTER RESULTS - DS SCORE IS POOR BUT I DO FEEL I EARNT A LOT OF POINTS IN UNDERSTANDING WHAT I'M DOING. MANY THANKS,
ROLS.
FYI - MY SUCCESS RATE WAS 65% AND WIN - LOSS WAS 2:1 SO STILL PRETTY HAPPY - BUT NEXT TIME i WILL STRIVE TO IMPROVE DS

[immy]

another tip. You can download a simple free screenshot software such as Jing or icecream ... that will allow you to take screenshots and annotate on the pics...

https://www.techsmith.com/jing-tool.html

https://icecreamapps.com/Howto/how-to-c ... creen.html

[Rols]

2018-08-12_7-14-18.jpg

[immy]

2018-08-12_7-14-18.jpg

That is NOT a good setup. Not a Setup 1

[immy]

2 Tips

1. Don't moan about exits too early too late. Only check one thing. Did you follow your exit plan, yes or no. Stage 1 go with 1R SL 2R TP. If 2R target point means you have to wait for price to go beyond TZ1 (FE 62%) don't take the trade. Don't need to have two charts displayed for Higher time frames. Stick to One Chart

2. Chose one time frame of trading. Let it be daily or H4. Don't do both.

Create your trading plan first then trade. Trading without a trading plan, because of any reason, is training for becoming undisciplined trader.

hope it helps

[Rols]

T12

EURJPY.jpg

[Rols]

T15 NZDCHF

T15 NZDCHF.jpg

[immy]

I have had a quick look at some of your trades this one stands out to me.



Seeing that you took some very good setups but also some very bad ones that don't go with the logic of Setup 1 as explained in the video about distinguishing between s0 s 1 and s2 and that we only take setup 1.

The above was NEVER a sell setup.

When you see a 3 up and 4 down. you don't go for Shorts AT ALL.. NEVER EVER ...

Period.

Infact the process of selecting the Setup 1 is look for 3 and 4. IN the picture above you had a CLEAR 3 up, a 4 down... IT was a Setup 0 LONG....

Don't look for signals and then check the Flowchart. This is called backward setup creation.

Do it the other way which is called the "proactive setup creation". You look for wave 3 and 4 , then wait ONLY for a setup signal in teh direction of previous 3. So if 3 is green, you look for Blue Dot setups only.

hope it makes sense.