This journal is an attempt to log my trades and keep disciplined in my trading.
Trade Strategy
MT4 Indicator Package Template AF MM fixed, blue, red, ema, trend, mprofile
Period: M30
Currency pair: GBPUSD
Trading period: Euro and US sessions
Entry rules
Enter in direction of Elliott Wave Analysis (if any waves apparent)
Trade with Trend
- After Red or Blue Arrow reversal
- At Cross of EMA back to trend
- after fake out against the trend failed
Trade Against Trend (start of new trend)
- After Blue arrow only
- After fake out against trend failed, AND move back to trend failed. Now have higher highs and higher lows OR lower lows and lower highs.
- Entry at break of previous high above/below EMA
Liquidation Rules
Trade with Trend - initial stop 10 pips beyond far side of Red/Blue arrow reversal
Trade against trend (start of new trend) - Initial stop below/above previous high/low
Stops to B/E at +50
If weak momentum close at +50 (target for trade)
If strong momentum move TP to +100
At +80 stop to +50 (target for trade)
If strong momentum at +100, move TP to +150
If +150 hit, liquidate all positions. At extreme of daily range.
Notes:
If Red/Blue reversal point reversed of MM line? If yes, this is a positive sign.
Check what MP is doing? Is MP poinint to EMA break as entry point?
Currently no method to judge momentum except for range on bar. What is better way?
Lets see if a) if this trade style works and b) if I can maintain this thread.
Trade Strategy
MT4 Indicator Package Template AF MM fixed, blue, red, ema, trend, mprofile
Period: M30
Currency pair: GBPUSD
Trading period: Euro and US sessions
Entry rules
Enter in direction of Elliott Wave Analysis (if any waves apparent)
Trade with Trend
- After Red or Blue Arrow reversal
- At Cross of EMA back to trend
- after fake out against the trend failed
Trade Against Trend (start of new trend)
- After Blue arrow only
- After fake out against trend failed, AND move back to trend failed. Now have higher highs and higher lows OR lower lows and lower highs.
- Entry at break of previous high above/below EMA
Liquidation Rules
Trade with Trend - initial stop 10 pips beyond far side of Red/Blue arrow reversal
Trade against trend (start of new trend) - Initial stop below/above previous high/low
Stops to B/E at +50
If weak momentum close at +50 (target for trade)
If strong momentum move TP to +100
At +80 stop to +50 (target for trade)
If strong momentum at +100, move TP to +150
If +150 hit, liquidate all positions. At extreme of daily range.
Notes:
If Red/Blue reversal point reversed of MM line? If yes, this is a positive sign.
Check what MP is doing? Is MP poinint to EMA break as entry point?
Currently no method to judge momentum except for range on bar. What is better way?
Lets see if a) if this trade style works and b) if I can maintain this thread.