Mike's Journal MSK185

[msk185]

1st trade of the week and unfortunately more rent, seems to be a bit of a theme!

Setup looked good, fresh cross of AO break of 1 and 5 min levels, but price tipped me and then took me out for -6pips

On to the next

Mike

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[msk185]

1st trade today and more rent, seems to becoming a bad habit, not sure what I'm getting wrong, mentally starting to find this a real struggle. Not sure what to do to turn it round, I perservere but need to change something

Mike

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[snowman]

Hi Mike

The Euro proving hard to trade for everyone at the moment, with all the tight ranging days, unless you are using a ranging method.

I notice on your A.O you still have the setting at 0.0006, we were advised to change it to 0.0003 & -0.0003 a while ago. This would have left you with a different picture.

Cheers
David

[msk185]

Thanks for your feedback David.

I've now changed to setting on my AO and you're right very different look

Mike

[msk185]

2nd trade today and another 5 pip rent trade.

Entry below 15 min low and blue of 5 min target purple on 5 min, but not to be

Mike

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[snowman]

Hi Mike

Your last trade should not have been taken, pink dot means the candle closed outside of aims, so you are now waiting for a fresh aims level, that happened at 1.31875. At that stage you were already in the trade.

Cheers
David

[msk185]

Hi David

After the pink dot I had a new level form coincident with the 15 min low so it was the break of that, that I took.

Mike

[snowman]

Hi Mike

Ignore my last post. I was looking at my charts, which shows a different picture.

Cheers
David

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[msk185]

Thanks David.

To compound my frustration the price fell but I lacked the courage to take the third trade.

Oh well, see what the New York session brings

Mike

[msk185]

Hi I've been lucky enough to be in the live skype trading room today so firstly thanks to everyone for their contributions i found it really infromative.

I took three trades today for a loss of 1 pip, but should really have been a profit of 17!

First trade was a simple rent trade, good setup well managed just wasnt to be.

Second trade nice entry below 5 min low but closed too early as I got confused and distracted.

Third trade again good entry but closed early when there were 2 dojis.

More courage and confidence on the second and third trade would easily have netted 10 pips on each.

Missed the big move of the day as I was away from the screen, however felt much happier with my trading today.

Cheers

Mike

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