Randy Cha Journal

[Randy Cha]

23 Jan 2012

Good day

Mood - experimental

3 trades
1) - 10 pips
2) + 68 pips
3) + 90 pips
-------------
+ 148 pips
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Posted 1st and 2nd trades on forum.
Attempted 3rd trade (last trade for today).
Still in the process of fine-tuning. But waiting at M5 (for alert), then move to M1 to find opportunity to execute trades seems to work for me. Will explore further after studying Immy's manual and 10 sec Elliot wave eBook.

Here are the charts for my 3rd trade. Please bear with me for the lines and wordings because I am using a different broker's trading platform (not MT4).

M5 chart:

120123_chart 9.gif

Saw a BLUE dot - Long trade. Move to M1 chart.

M1 chart:

120123_chart 10.gif

Trade 2 lots. Take partial profit (1st lot) after +30 pips (hard target). Normal SL shift to breakeven/save profits.
Take profit for final lot (2nd lot) after +60 pips (manual target) - AO peaked and divergence showed.

That's about it for today.

[PaulF]

Blimey!! That's not a bad start!!! (wd)

[Randy Cha]

Thanks, Bobby.

Rgds,
Randy

[Randy Cha]

23 Jan 2012

Good day

Mood - relaxed/sleepy i-) i

Got some good advice from Grant just now and want to try out. Plus, my wife wants to know what I am doing at the screen, so took another trade for her to view.

TP: +39 pips

On M1 chart:

120123_chart 12.gif

Not sure I have really grasped all of Grant's advice ...

After reviewing M5 chart for some confirmation, I trade 2 lots.

Order filled, SL 10 pips. Market moved with some momentum before pulling back and thereby creating a higher high. So, I placed my TP1 level there. Also, 14 - 15 pips not too bad for me.
Market later built up momentum again and went in the direction of my favor. After TP for 1st lot, I shift SL to BE and plan to let 2nd lot run until a peach or red dot appeared for exit.
Blue dots appeared instead - can add on but I decided not to because I would like to exit soon.
In the end, I decided to place a hard exit at 5 min high (@ 1.30435) level - sleepy. Very soon, target hit.

[Randy Cha]

24 Jan 2012

Good day (+11 pips)

Mood - relaxed

I wanted to try out what I have learnt yesterday. So entered a trade with 1 mini lot. Follow the flow chart.

On M1 chart:

120124_chart 13b.gif

After checking 5 min chart, the conditions and requirements which I want are met.
I like the AIMS levels and AO - easy to set PO and SL.
Entry - need to look out for any higher TFs AIMS levels nearby; because price could bounce off these levels.
TP - nearby higher TF AIMS levels (e.g., 15 min or 60 min) or set hard targets for reasonable pips. Wait for different colour dot to appear also okay.
Recommend to go back to higher TFs occasionally to have a bigger idea, better feel of price action directions, to spot any S/R zones, etc.
Repeat method again.
So far, positive trades. Immy mentioned trading is 80% mental and he is right - LOA.

[Den]

Well done !! (wd)

[Randy Cha]

Thanks, pal.

Good trading,
Randy

[connad]

Hi Randy,

nice going!

May I ask which indicators you use to put all the different lines on your chart.

Many thanks.

Nick

Thanks, pal.

Good trading,
Randy

[Randy Cha]

Hi Connad,

Thanks for kind words.

I believe you meant Steve's Fractal Fib Multi indicator.

You can know more here: http://itradeaims.net/forum/viewforum.php?f=66" onclick="window.open(this.href);return false;

As for those white lines and text, I prepared them.
I did not trade on MT4 platform, but I use AIMS on them.

Hope the info helps.

Rgds,
Randy

[connad]

Hi Randy,

thanks for your help and quick reply.
Not using MT4? What are you using? Spread betting?

Thanks again, and happy trading.

Nick

Hi Connad,

Thanks for kind words.

I believe you meant Steve's Fractal Fib Multi indicator.

You can know more here: http://itradeaims.net/forum/viewforum.php?f=66" onclick="window.open(this.href);return false;

As for those white lines and text, I prepared them.
I did not trade on MT4 platform, but I use AIMS on them.

Hope the info helps.

Rgds,
Randy