ATP (Advanced Trading Philosophy) - 3% Daily....From working to trading for a living.

Missed a nice long eurjpy trade earlier where we would already be a b/e +1.

have to sleep sometime though

closed out the trade for +1 in profit

so far this week as been very trying on the M5 system. Low volume, no sustained moves and high volility.

last week we saw some great moves, but i have noticed over the last 2+years that when market has faily substantial movement on the lower tf's during that asian session that that london market get's tight and the movement commences then during new york.

This is something that really sticks out at me as i have watched the markets.

all this week this has been the case, right from the open sunday night until today when once again, asain session moved the market, then it seems that we never get much movement until an hour or two before the new york open and then it may or may not continue for london.

This has been picture perfect as my evealuations over time. Not often does it move during the asian session, but this has been my evaluation when it does happen.

I think when I see trending markets during asian that i missed I may just go right back to bed and not waste my time trading the M5 system for london that day.

Anyway, it is something to keep an eye out, becasue these last three days have hurt trading the M5 system. the only thing that has kept me in the game as been the H1 trades.

Losses will happen, that is enevitable, but there is so much profit in this system, that finding excuses not to trade is a good thing.

anyway...fft

well...looks like i closed out the wrong trade maybe.

gbpusd trade hit our s/l of 34 pips. No big deal though as we have a good risk/return for the H1 trade.

Actaully, this trade should have never been taken because if my divergence rule. The trade had major divergence signalling yet mor eof a downward move. I didn't notice it before i made the trade, and should have closed it right away, but I thought just maybe.

Looks like we will have a short signal at the turn of the new hour.

i placed a sell stop order at 1.9522

t/p 150 pips
s/l 34 pips
b/e +1 at 30 pips in profit

This is at a reversal point, but the trigger will be below S2 so i am very optimistic that when the trade hits it will go.

exited trade at 1.9484

I have a buy stop placed at 1.9515

t/p 150
s/l 34
b/e+1 after 30 pips.

I am long eurjpy since 169.36.

s/l 34 pips
t/p 120 pips
b/e +1 after 30 pips

I am still doing a little tweaking to this systme to help elimanate a few of the false moves. I made a lsight change tonight and closed a trade for 30 pips in profit....7% profit.

This makes up for a few of the losers over the last few days....

I will now let my trades run and head back to bed.

after further review, the erujpy trade was against divergence and probably should not have been taken.

very nice trading
could you please show us on chart the eurjpy trade was against divergence?- explain it on chart
Thx

Hey brainjt...I most certainly will explain divergence on a chart. I am almost ready for bed now, but will hopefully not have any time during london because I have nothing but trade set-ups to deal with.

I will get back to you about this soon...thx....

both these trades hit our s/l of 34 pips, but.....if I would have been home, I would have been able to enter going in the other direction and gotten more than my money back.

happy pippin'

I have place a short usdjpy trade at 109.28

s/l 33 pips
t/p 120 pips
b/e+1 after 30 pips in profit.

If lsma3 closes in gray, this trade will be cancelled.

this trade was cancelled when lsma3 closed in gray.

Yesterday we saw loses with the erujpy and gbpusd with our first trades of 34 pips. Our second trades got us 150 pips on gbpusd and 120 pips on erujpy.

Not a bad r/r when you lose 34 to make 120 or 150 pips.

There was too much movement during Asian session again for me to feel comfortable making any trades during London today using the M5 system.

here you go......

eurjpy chart with explanation of divergence.



As you can see on the chart, we hve two vertical sets of check marks.

The first set of marks identifies our last swing high point both on the charts and on our LSMA3 breakout trigger.

Then the 2nd set of marks indicates the new swing high on the charts and the new swing high indicating our breakout of the last swing high on the LSMA3.

The divergence is because the LSMA swing high is higher than the last swing high which is an example of our trade set-up and entry, but on the chart, where our LSMA breakout occured, was not higher than the last swing high on the chart, in fact it was the same number 169.31.

This is significant because or LSMA gave us a new swing high, but our price action on the charts did not indicating that resistence on the chart was not breeched as it was on the LSMA3 and thus giving us conflicting signals.

Even though price action on the chart eventually did breech the resistence of the last swing high, we want it to happen at the same moment that we get our entry signal.

Hope this has been helpful.

thx for answer,
bj

yaw