MickDs Common Sense journal. - Page 3
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Thread: MickDs Common Sense journal.

  1. #21
    In again using the AJ, also bought GJ long by accident then bought another to bond me out since the set have been trending in my favor generally, we will see.


  2. #22
    1 Attachment(s) just closed out the first 2 postions to get 122 103 pips respectively, I may have been somewhat quick at pulling the trigger however, price has just continued somewhat about the 1m/5m, may be a little noise but I did not like the PA so that I did some banking

    As we talk I still have 2 units in and they are both optimistic, I'll now be watchin closely for potential buy in or quick exit with small loss with this 'free' trades (ie. I'll give them some room for sound), if not I will hold them for a longer duration given the tendency remains strong.

    UPDATE: shut out other 2 components for 3 and -14 to get a small loss of 11 pips, PA is undesirable now and it seems like a correction may be round the corner, I'll be on the lookout for a re-entry if trend continues - waiting
    Not a bad transaction total 214 pips.

  3. #23
    Well, the 'mistake' commerce I put on this morning is exercising ok, so far I'm up about 40 29 = 69 pips, I'm fighting the urge to buy another lot as it is progressing but history shows them 'impulse' purchases can take more pips than you may gain if it goes against you.
    (Self: make sure you read this regularly!)
    For eg.
    I've 70 pips up my sleeve, if I buy in today and it goes against me 20 pips, I not only shed 40 of my 70 but additionally 20 I didn't have!
    The other side to this is when I don;t buy in I'm really only missing out on 20 pips when it goes in my favor that much, I will still be getting 40 in my original place.

    The plan that I Intend to employ then is to Await the correction to bounce, then pounce

  4. #24
    Wow!, what turned out to be!!
    I was talking with a high voice for a while but I made it out with a couple pips gain, I can't remember how many but it was only a couple. I was in too much rush to rely

    Another lesson learned - if you make a mistake, fix it as soon as possible!!

    I had a few opportunities to get out with even a reasonable gain (nearly 100 pips at the same point), I was watching the activity and got greedy, I adhered to my buy in egy only to have exactly what I was saying bite me on the arse - I even purchased in again but I am happy I waited or it could have been a lot worse.

    This is a tough one to test, the plan even worked to rescue me in the end although I could have been outside a good deal earlier, it would have saved me a few hours grief.
    I was nearly going to bight the bullet and give up if it moved beyond my previous days lt;editgt; 1st entry, it was cooked by then but I followed the PA and it was going apartment only now, a chance came along with the cost reversed enough for me to escape with my clothes on.
    Basically I kept an eye on this pip complete, it was going south nearly to my brink before it went flat, I decided to hold on a little more to find out what happened - it was worth it - this moment!

  5. #25
    Quote Originally Posted by ;
    Another lesson learned - if you make a mistake, fix it as soon as possible!!
    That is undoubtedly among the market principles that you can live by ....don't sit there hoping, just fix it and move on

  6. #26
    Yep I don't care how good it looks. I had been ing with all the A/J for a couple of days and while a few pairs do similar things, things can change pretty quickly if you're not in tune.

    I could write a novel on that trade I reckon, The only thing which kept me positive is my pip balance on the blotter wasn't actually that bad (some still , a few -) until the final flat spot prior to the surge upwards which enabled me to escape.
    Fti's TA fallacy ribbon and philosophy saved my bacon and offer me a flavor of battle, I did not enjoy it actually (or did I ) but it was a fantastic lesson of being 'in the trenches' so to speak.

  7. #27
    Todays commerce: extended GJ @ 225.567.
    The market is flat at the moment following a huge sell off (I'm going to have commerce during the night to grab this action!) . I'll be sticking to the plan but I'm not going to look at the 1m graphs today, I think that the sound is too much and contributes to premature decisions - I'll try anyway unless I get stuck again.
    Once safe it is to the 15 and moment to get up and then on the 30m.
    After that market off there might be a fantastic chance to take a few pips while the market find its equilibrium again - or it may just keep going down, who knows but I'll be watching carefully.

  8. #28
    It is a slow old afternoon but I'm finally inching ahead (up 80 pips as I type), I will be in set and forget mode shortly so that I am going to need to see how it goes in the afternoon.
    I will put my ceases to take a gain on both components (I had been in again at 255.77) and let it ride. I have a play and may check tonight.

    I have been thinking about my buy egy, I'm thinking I will use the ATR plus a bit for the next buy-in target dropping to lower tf's for a good entrance, I'm jumping the gun a bit in this regard and if the price goes against me until I get a good footing in the past unit it starts to get scary as it is moving against me.
    I think this will allow me to get out in gain when the PA is telling me it is all over, I will take a little loss on the previous unit but have enough gain on the prior unit/s to equilibrium the blotter and make it a good trade.

  9. #29
    Like most days, involving 3-4pm Aussie time the market makes a little bit of noise (due to the near Aussie and also the impending close of Tokyo I am assuming) so that I had a chance to do some active trading.
    I put my stops to the initial 2 trade to the purchase from the 3rd with the 3rd SL set in the ATR a bit. I only just got stopped out - that is what I get for leaving the ing!
    I jumped back in and purchased another unit and after that it was time to stop, the marketplace was looking flat so that I snapped outside and called it a night.
    I have mentioned it before but I know if I'd have been trading live I might have maximised my profits on this trade I wouldn't have lost the initial two units and that I would of held a bit longer before quitting. That is great to know at least I figure.
    The real bonus with this sort of trading is once you get a good stash of pips you can start working the greater time frames as you've got much more room to proceed with the PA and a larger potential to compound even farther, by that time you are employing the markets cash and may use a bit more danger - not by making risky choices mind you, just the fact that you've got more room to breathe.
    I'll edit and post the pips to get yesterday shortly, here's the chart.
    EDIT:
    Unit 1 = 72 pips
    Unit 2 51
    Unit 3 = 61
    Unit 4 = -14
    Total pips = 170
    Not bad, if I'd have been watching and didn't get stopped out there might have been an extra 122 pips! (unit 3's movement), then there is the movement which I missed

  10. #30
    Now's commerce:
    I am in long on the A/J pair today @ 98.93

    A bit insecure looking at the chart actually but that I might can a few pips on the run up to immunity at 98.30-ish, if it makes it past I'll buy in again and see how we proceed.

    I am really beginning to receive down my egy today, as I find time today I'll post it with a few rules so that I have something to abide by.

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