Pedro's Journal !

[acceleratum]

Saw the complete 1-5 and went for the short w5, but moved sl and took small profit, should have waited for the cherries bouncing TL.

[immy]

Saw the complete 1-5 and went for the short w5, but moved sl and took small profit, should have waited for the cherries bouncing TL.

damn you should have taken the cherry.. but maybe you were asleep lol

[acceleratum]

yeah =|

[acceleratum]

last batch:
13x S1
1x Famous
4x S2
1x Cherry
1x Apple

9x BE
6x Rents
6x Target

total= 10R-6R = 4R

Targets were on average slight less than 2R and most rents were 1 R or less managing to pull 4R total from many many rents and Breakevens with 3 nice big profits covering it.
I was expecting a worse result from all those BE and rents but a couple good trades covers it! =)

In terms of discipline I had 1 big mistake, the rest was ok with my loose rules trying to improve profit.
Im doing ok in the entries, rarely make mistakes, the loose rules were on managing, with agresive move of sl to cut losses and tightning sl when near tz1 which helped prevent some pips loss and take some profit.
The profit came from 4xSetup1, 1x S2 and 1x Cherry.

[immy]

Well done on completing another batch. Thats the way to trade... I really enjoy reading journals now. I wait for someone to complete their batch and do their analysis. Like above. its really exciting.

hint: if you want to work on profits... you'll have to work "letting them run". and that can be done by initially switching to 3R TP's. even though they might go beyond TZ1. that's ok.

[Jasmien]

Hi Peds.

Nice Batch! Thanks for the analysis

[acceleratum]

So because I got a new job and I wont be able t follow the lower time frames I will henceforth focus on the daily fruit method.
I ran a demo account for an year and now Ill run it on a small live account.

[acceleratum]

Breakout with momentum addon exited after 5 green bars to bank profit.

[acceleratum]

Similar Breakout with momentum adodn, exited after 5 green bars to secure profit because the addon was losing, actually not becasue of the addon but since its my first trades we want to bank some profit to further confidence.
My planned exits are trailing boxes, cross of green line against trend or trailing 5 green bars or counter fruit signal.

[immy]

my comments repeated from Skype

1. OK Pedro... final comment. the add on GU was something I'd have not taken. So I think when you see that the risk is too much or price is too far from gator, and there is an add on signal, you can take the executive decision and ignore the add on. after-all its an add on. with time we learn ...

2. specially the momentum add on's usually come at the worst places. but it has its merits.

3. e.g. sometimes the momentum addon becomes available before the box add on. that's when you can create a nice space between the initial entry and the box and in between a mo add on.

4. having said that, once this pullbacks a little creates a box high and then explodes flying high again, you'd be thinking whether it was a good decisions to bank. .. but thats' all part of learning.