Michael's (zlabis) Journal [The Magician]

[zlabis]

Thank you Immy. I'm feeling very honered and encouraged by your words :-h


Fri. Oct. 9., 2015

Screen time:
LO-session 09:00 - 11:00 (GMT+2) M1/M5 DAX only - LIVE

Today DAX conditions were very similar to yesterday's LO session. Good movement and structure but not many signals at relevant spots. Fortunately we were blessed with 2 valid signal which were filled and later, when it went into sideway market, we weren't tempted too much by false, good looking signals therefor staying out was rather easy today.

Trade 1:
Very promising Seed right after PC pinbar Cherry at red gator with entry below gator. Trigger candle was a beautiful impulsive bearish candle so I was actually a bit surprised that it reversed at next bar even more, but it was only profing one of the fundamental truths of trading: ANYTHING CAN HAPPEN.
It didn't touch 1R level so SL got hit at init SL with -1.0%
Only thing about entry was that down move wasn't very strong and smooth as it went down and retraced to green gator 3 times before signal appeared during 4 pullback. Will have an eye on it.

Trade 2:
This time signal at first pullback to green gator of that impulsive down move. Price went down sharply, rushed through 1R level and hit TP at 2R level. Unfortunately TP order wasn't triggered although ask- and bid-line had hit TP level. As TP was hit a second time by next bar TP was executed with +2.0%.

All in all a good practise for Patience and discipline again and happy with trading and outcome.

Today's result: +6.5p = +1.0% , DS = 2 / 2 , 2.00 hrs


Result of week 41, 05.10.-9.10.2015 - M1/M5 live:
Mon. 05.10. +47.8p = +5.1%, DS 5/5, 2.00 hrs, M1/M5
Tue. 06.10. +47.6p = +5.2%, DS 4/5, 2.00 hrs, M1/M5
Wed. 07.10. +54.4p = +6.7%, DS = 9/10, 3.50 hrs, M1/M5
Thu. 08.10. -11.2p = -1.0%, DS = 1/1, 2.00 hrs, M1/M5
Fri . 09.10. +6.5p = +1.0%, DS = 2/2, 2.00 hrs, M1/M5
-----------------------------------------------------------------------------------------------------------------------------------
Result ...... +145.1p = +18.4% (with compounding), DS = 21 / 23 (91%), 11.50 hrs

Great week with good results, increasing discipline and massive learning in Skype room.

[zlabis]

Hi Michael,


good news. Instead of 4,6% profit you made 6,6%!

You should have added trade number 10 instead of substract it! :O)

Silas

oh yes, thanks, Silas ;-)

[zlabis]

Mon. Oct. 12., 2015

No trading today due to private and business things to do

[zlabis]

Tue. Oct. 13., 2015

Screen time:
NEO-session 15:30 - 17:00 (GMT+2) M1/M5 DAX only - LIVE

Had some business appointments in the morning so wasn't able to trade LO but I planned to make it to New York Equity Open and I was there at the right time.

Trade 1:
When I opened charts I saw that there was a good down move on M5 and M1 in progress and as volatility didn't increase at NEO, I assumed that it wasn't new CIP (Chaos Influx Point - point of new incoming information) and therefore I kept wave count and structure for still being intact. That was reason for taking that nice Cherry between red and green gator into possible w5 of 5 after new peak of AO. It simply didn't work out and reversed right at entry candle which hit init SL with -1.0%. Next.

The following Cherry was very promising as well but it moved a bit too fast down before it stalled a bit. Unfortunately I haven't realized, that ATM, which I was using for the very first session, is handling POs differently than FTM when original entry level has already been passed. PO was now about 3p away from original entry level what was too much for me, so I canceled the PO. Anyway, next ;-)

Next couple of signals between 15:43 and 16:32 GKFX time I filtered completely because they were all against already hit TZ1 of that completed w5 on M1. Therefore I waited until structure reseted which was the case as price went above purple on M1 and M5 gator opened to the up side.

Trade 2:
Good up move on M1 above purple, then it pulled back and formed 2 Seeds (PO at second one - canceled later) which weren't triggered anyway. Next candle was a nice Cherry a bit above green gator which formed a Bud Pattern ((C)Immy - Seed followed a by a pinbar in direction of trend). Wanted to take it but following bar went up quickly and ATM placed PO above high of previous candle again. This time it was only 1.5p, so I left PO there. Those additional 3.0p were enough that TP at 2R level below micro TZ1 was not hit. Price returned after hitting 1R level so trade got closed at BE with +/-0.0%. That was the occasion when I switched from ATM back to FTM which I able to handle automatically.

Trade 3:
After AO peaked into a new massive w3, I was ready to take signals at that following pullback. There was no S/R or other important levels too close to entry, so I took a nice pinbar Cherry slightly below red gator which, on the other side, retraced exactly at 50% pullback. Before it broke out to the up side, price went into a tightening small range which formed a lovely classic breakout setup was well. TP was placed at 2R at the hight of last swing high and a few points below micro TZ1.
TP got hit after price broke out of range after 3 candles with +2.0%

Trade 4:
Up momentum was very strong and all M5 AIMS levels on screen left left of current price had already been broken, so I was not too picky of filtering this nice Adam's Apple fruit. It was according to Kyle's AA flow chart (AO on opposite side of ZL, pullback between 23.6% and 61.8%) and pullback was near range of recent w4 of w3. Last but not least entry candle was a pretty BDC, so I was confident to take the signal. After entry had been triggered it went up sharply out of the box. One candle rushed through 2R and 3R levels and because there were already 5 consecutive green candles, I didn't hasitate trailing candles where it got exited at +3.1%. I had TP placed 5p below macro TZ1 (fib exp of Steve's eWave indy) at 5R level but it wasn't reached anymore.

Today's result: +43.9p = +4.1% , DS = 4 / 4 , 1.50hrs

[immy]

Oh man! you always turn up at the right time ,do you trades and disappear! its just fascinating! I love it... Great trading mate. I just kept watching most of the time!

[zlabis]

Wed. Oct. 14, 2015

No trading due to business commitments.


Thu. Oct. 15, 2015

Screen time:
LO-session 09:00 - 11:00 (GMT+2) M1/M5 DAX only - LIVE

FO opened with a larger gap. First time of LO price went into correction of FO w3 om M1. Price went a little bit below purple, created divergency with 2 beautiful fruits (were basicly AAs at 61.8% pullback but as they were below purple, indy didn't paint signals). I'm not trading against purple, therefore I waited for a signal with entry above purple. After divergency-Fruit there was a very impulsive candle, breaking out of AIMS box, which was followed by a box-retesting Momentum-Seed. This was in confluence with valid M5 Cherry and Seed signals. I took it as only trade (Trade 1) of the whole LO session. I exited with +1.9% below a good counter Fruit which exceeded 2R level and bounced off from recent swing high, not too far away from macro TZ1.

After that trade I filtered all signals due to close TZ1, potentially finished wave 5 and unclear further structure. Although M5 gator was opened to the up side, neither M5 nor M1 showed impulsive movement over a longer period of candles which would have offered reasonable pullbacks with signals.

I'm happy with my discipline and that I withstanded impulses looking for signals where they aren't present.

Today's result: +20.4p = +1.9%, DS = 1 / 1 , 2.00 hrs

[zlabis]

Fri. Oct. 16, 2015

Screen time:
LO-session 09:00 - 11:00 (GMT+2) M1/M5 DAX only - LIVE

Today's LO session was a little bit like yesterday's. It was in some sort of wave 4 of M5, so we were waiting for and anticipating entry into w5 but after LO it was simply a candle clutter. Although it did paint some signals between 10:05 and 10:35 I filtered them all together due to sleeping M5 alligator and, in addition for short, M5 structure was strongly suggesting w5 long to come sooner or later.

Situation changed whem it strongly broke out to downside and created a good pullback with a Monarch Seed. I placed PO although I had minor concerns about impulsiveness of pullback (angle of pullback was steeper as one of down move). But was at good level (lower M5 AIMS level) and break of 10000p mark and M5 box gave promising reward opportunities. Unfortunately market went further in direction of pullback and invalidated Seed, so I canceled PO.

Trade 1:
After canceled PO of invalidated Seed, DAX went in a range which tightened more and more. During that period, I filtered all signals and was waiting for the breakout. I was rather sure that it'll go the upside into w5 of M5 due to a good Adam's Apple Fruit on M5. Unfortunately it wasn't a clean sweep after that M5 AA, so I waited until price broke out strongly, pulled back and formed a Monarch Cherry in combination with AO Monarch pattern. There was enough (but not too much) distance to M5 TZ1, so I placed hard TP at 2R level where it got hit with +2.1%. I was thinking about letting it run to TZ1 but as my session was nearly over, I sticked to TP at 2R level.

Today's result: +19.3p = + 2.1% , DS = 1 , 2.00 hrs

Result of week 42, 12.10.-16.10.2015 - M1/M5 live:
Mon. 12.10. no trading
Tue. 13.10. +43.9p = +4.1%, DS 4 / 4, 1.50 hrs, M1/M5
Wed. 14.10. no trading
Thu. 15.10. +20.4p = +1.9%, DS = 1/1, 2.00 hrs, M1/M5
Fri . 16.10. +19.3p = +2.1%, DS = 1/1, 2.00 hrs, M1/M5
-----------------------------------------------------------------------------------------------------------------------------------
Result ...... +83.6p = +8.3% (with compounding), DS = 6 / 6 (100%), 5.50 hrs

This week, I'm very proud of my discipline that I only took trades when I clearly saw that there was movement and structure. Espacially on Thursday and Friday it was sometimes a bit difficult to stand the urge "to do something". I needed to focus on my intention for a professional trading approach and that I'm not trading for amusement/distraction or for gambling sake. That and writing explainations in Skype group helped to convince myself staying outside during "untradeable" market conditions.

IMHO this is my most important part of discipline: staying out if conditions I need for setups - movent and structure (as always) - are not clearly and obviously present, or better said, in a positve way (my mantra):

I ONLY TRADE IF THERE IS CLEAR AND OBVIOUS MOVEMENT AND STRUCTURE!!!

[immy]

One of the best post I've ever read anywhere!

[zlabis]

Mon. Oct. 19, 2015

Screen time:
LO-session 09:00 - 11:00 (GMT+2) M1/M5 DAX only - LIVE

DAX started at FO with a small gap of only 15p - nothing spectacular. When I opened charts a few minutes to LO, there was a thight range and an already printed M1 w3 down so I was more biased to shorts. LO breakout proved it wrong: after a fake breakout to down side it shot up strongly without offering any signal according to my rules. Peter took that saddle-SAR entry which is part of his trading plan but not of mine.
A few candles after breakout there appeared a minor pullback, forming a wedge and an inside bar at its end but AO didn't change color and M5 didn't form momentum Seed. Therefore resisted temptation taking that one as it's not part of my plan.

Trade 1:
After the strong up move, price went into correction and formed a Seed at 10:22 which I filtered due to it's too small pullback. After that it formed a nice zig-zag and two good looking Seeds right at red gator. At first I had placed PO which I canceled due to following even smaller Seed. That PO got triggered and I had placed TP at 2R because of following considerations:
it was pullback at very high position of up move which ended in a very nice counter fruit signal. My analysis brought me to decission that there was a good probability that it would not go up to top of counter Fruit bar. Therefore I neither placed TP of 3R right at swing high nor at potential micro TZ1 at 4R level nor wanted to trail candles.
1R and TP got hit quickly and I was happy with that easy peasy +2.0%.

Trade 2:
Up move of Trade 1 went up further and touched micro TZ1 but never hit macro TZ1 during that wave 3 anymore. After that it went into a longer correction phase. At the end of that correction there showed up an Adam's Apple Fruit with good angulation right at 38.1% pullback next to purple. I took it with confidence and wanted to give it its chance to go up towards macro TZ1 so I enabled trailing fractals in FTM. As it went out of alligator completely, I moved SL to BE level. Unfortunately it didn't go up further in a clean move and FTM exited it right at BE level with minor slippage with -0.05%. Well played but simply didn't work out.
In this case I didn't place hard TP at 2R or 3R level. I placed it 5p below macro TZ1 but was trailing AIMS levels by FTM. Reason for me is that Adam's Apple Fruits into w5 offer great potential for big moves with minimum risk if they go up to TZ1 impulsively. Drawback of AA Fruits is its smaller probability to work out of about 50% if taken properly.

Trade 3:
Now we got offered a lovely Monarch Seed. I took it without hasitation due to its great looking AO Monarch pattern and its potential to develop into final w5 up to TZ1. That was reason again why I didn't restrict it by hard TP at 2R or 3R. This time I exited by trailing strong counter Fruit which bounced of resistance area after it hit 2R and 3R levels with +1.6%.


Short summary of my exits:

Signal at possible w1-2 with clear AO Monarch pattern:
- SL to BE if 1R gets hit
- if 2R or 3R gets hit, I look out for exits (trailing 5 color candles, counter Fruit, AIMS, green gator)
- no TP or TP at next important level (S/R, round number, H1/D1 AIMS, trend line,...)

Signal after strong move and reasonable pullback:
- SL to BE if 1R gets hit
- TP at 2R or 3R depending on PA and distance to micro TZ1

Adam's Apple Fruits:
- SL to BE if price is clearly on opposite side of gator
- Trailing AIMS or green gator
- if move is very impulsive, trailing 5 consecutive colored candles
- ocassionally at strong counter Fruits with divergency
- no TP or hard TP 5p below TZ1


Today's result: +23.0p = +3.6% , DS = 3 / 3 , 2.00hrs

[zlabis]

Tue. Oct. 20, 2015

Screen time:
LO-session 09:00 - 11:00 (GMT+2) M1/M5 DAX only - LIVE

Today I opened charts a few minutes before LO and tried to take great looking Monarch Cherry at 9:59 but it went up too fast that my order, placed by FTM, got rejected. Was a nice one, next ;-)
Next pullback kept me alarmed due to a candle which was likely to form a Cherry but in last 5 seconds it became too big Dot Candle (DC) and I skipped it. Price went up nicely (without me) and entered a range below some strong and obviously important levels, namely M15, H1, H4 and D1 upper AIMS levels as well as round number of 10200. I didn't take any signals in that resistance area and waited for a reasonable breakout.

Trade 1:
After nearly one hour inside that range, price broke out strongly to down side. Now I waited for pullback or Momentum Seed (momentum inside bar). Momentum Seed got nearly formed twice but only nearly. I don't want to take any entries without signals but as a fakey reversal took place and formed a small Seed, after AO changed to dark, I jumped in. It wasn't the best signal because it was far away from alli and it didn't retrace much but down momentum was massive so I was confident . At least it hit 1R to the pip and I moved SL to BE where it got hit with +/-0.0%.

In the following period I filtered all short signals because AO didn't show new peak and there was in addition divergency (w5 of w3) before it went into a rather flat w4.

Trade 2:
That mentioend w4 was rather flat with tightening AIMS boxes. As there happened the fake breakout to the upside it retraced right below lower H1 AIMS level with a nice small PC-Adam's Apple Fruit which had good angulation. Althoug it didn't retrace much (hardly 23.6%) it was a picture book example of a flat w4 with a zig-zag inside of tight range which ended in an AA Fruit/Principle C. Nice.
According to my exit rules for Adam's Apple Fruits, I placed hard TP some points above macro TZ1 (fib exp of Snorm's eWave indy). I kept SL untouched until price broke out of range and, after it hit 3R level, I started trailing those very impulsive candles. 2nd candle after breakout hit TP with +5.5%. Thank you market )
Without TP result would have been great as well with +4.5%.

Very encouraging session which has hopefully positively reinforced waiting patiently for tradeable market conditions.

Today's result: +40.9p = +5.5% , DS = 1 / 1 , 2.00 hrs