Mike's Journal MSK185

[msk185]

1st trade today and another rent. -7 pips, closed on the reverse dot.

Feeling really frustrated and now very much doubting my ability to trade this system, time for a run and some fresh air.

Mike

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[PaulF]

Hi Mike

I took exactly the same trade.

BobbyF

[Bettina]

Hi Mike,

the same did I. It's one of those situations, where I'm not sure : Peak to the left, a little away, no divergence yet.
Bettina

[immy]

1st trade today and another rent. -7 pips, closed on the reverse dot.

Feeling really frustrated and now very much doubting my ability to trade this system, time for a run and some fresh air.

Mike

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Took a rent there myself! Nice setup but did not play ball... got the other one later!

[msk185]

A rough day today, born out of frustration I think. Took some stupid counter trend trades that complied with no rules at all so have taken my self outside for a serious talking too again. So next 19 trades will all be best possible setups on AIMs 1 min chart.

Good to see so many people making pips consistently on their journals, it encourages me to continue to work to master myself to be able to trade this excellent system.

Now feeling resolute to catch up with everyone on here and become a consistently profitable trader.

I will succeed

Mike

[msk185]

Approached today with new resolve having seen Immy's post yesterday and re-reading the manual and 7 Habits book. Took no trades as saw no class "A" setups.

Enjoyed my trading today, much more relaxed and felt much more in control.

Mike

[Topher]

Well done Mike

It takes discipline to sit on the side all day and not be tempted into a trade of which I am guilty off today. If you look long enough you begin to see justification for taking it then afterwards you kick yoursef for doing so.
Trading M1 makes you think of fast action and many trades a day, however, the reality is you still have to be patient and disciplined as you do in higher timeframes.

Richard

[msk185]

A second day of hand sitting and no trades, there were two possible shorts from what I saw, the first I was away from the screen and the second around 11.45, was just before all the interest rate releases and I thought I saw divergence on 5 min AO so elected to pass on the setup.

Looking forward to seeing some setups tomorrow, but grateful that I've refused to be tempted in to taking any "non standard" setups or trades off plan and paying rent

Well done to those who made pips today :-bd ^:)^ (wd)

Mike

[Topher]

Wow you are a changed man Mike.

Sitting on your hands for two days is some serious discipline and should be admired. Take your time and be 100% sure that the rules are been followed and even if it doesn't go your way at least you followed the rules (and you won't beat yourself up over it). This is a great system and the edge it provides will ensure that if you keep following the rules the pips will come rolling in.

Richard

[msk185]

First trade since Tuesday, setup looked good as a setup 2 breaking both 1 and 5 min levels, moved stop to b/e when price stalled at the previous 5 min level, stop got triggerred so happy with my analysis and the outcome.

Mike

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