Inside Bob's bottle

Just one trade so far today (Eur/Jpy), but could be a 2nd just about to happen so I will post that too if I take it!

The HA's changed colour before the 4 crossed back over the 16, that worked out ok though because needed to wait for the right candle to enter on, +12 pips.

Took this one on the pound... got out for -0.3 of a pip, looked like a good setup but just lost it's legs, news out in about 30 min so that might have affected it.

Closed this trade out -15 pips, HA's changed back against me so better to cut early, This was the 1st trade of the day and wan not untill half an hour after London open ... days where it takes that long to get a trade it seems might be best just to stay out of the market!

Last trade of the week and only trade I took on Friday, nice and neat +12 pips

Two trades today,

1st was on EUR/JPY and gave me 12 pips

2nd was GBP which also went +12, both were pretty stright foward... just had to wait for the 4 MA to cross back over the 16 then wait for a pull back and entry.

Today I am not a happy trader because I broke 2 rules

My 1st trade was on the pound, while in some ways it could have been a good trade I took it right after I just turned the charts on for the day.... I have rule which is to stop and check things out for a while before trading. See the red dotted line right above where I took the trade? the pivot lovers out there would know thats Daily R1.... why would I take a trade with that right above it? -15 pips

2nd trade was on the EUR/JPY, problem that I over looked this time was the market being sidways! so took a 20 pip hit on this one.

Wish me better luck on Wednesday... I might trade with my eyes open

Much better day! 2 trades:

Both on the pound.

1st trade was a winner for 12 pips
2nd trade broke even after going to within one pip of take profit.

"Trade what you see not what you think" We should have all heard that before and we all should trade by it.

Today I did not... My only trade was on the EUR/JPY and it was a stinker The HA's changed back to white but what I did not give enough respect to was the 00 level right below my trade entry.... and that the whole number had been tested twice before, see chart on how to lose 20 pips!

Just the one trade today, + 12 on the Pound

Two trades today on the EUR/JPY

Both worked out well for +12 pips

Here we are ladys and gents...

20 pips on the GBP, got in on the break of the 7MA, take profit was 10 pips under daily R2.

Hello

Just the one trade In the first hour of Euro open, trade was on the GBP for +23 pips, my exit was a bit close to the whole number so was I was waiting for a reverse candle.... lucky for me one did not come!

Have a good weekend

Bob

Just the one GBP trade today, waited for a candle to close on the south side of the 7MA, as it would be... it was also the candle right before London open so got a good push along from that! +20 pips

Hi Bob, what EMA's are you using, not the standard cornflower ones I see?, is your entry still based on CF principles?

C

Hi Red,

OK I have been changing things around a little bit of late, This thread is only to have my 5min trades in it... but I know that I have broken that rule over the few short pages my thread has been in action!

OK well the charts with the heiken aski candles are using 4,16 and 60 MAs

The more recent charts over the last week or so have a 7MA set to high, 7MA set to low (creating a channel) and a 21 MA. The point of this is to take breakouts above or below the 7MA channel but only long if the channel is over the 21 or opposite for short.

The reason I am not using cornflower MAs for this is that Lever picked those MAs for the hour chart and they have a reason to be there, I think that on 5 MIN chart if I use a 20 or 24 MA it is not going to make that much difference, it's really just a guide.

While I really enjoy trading cornflower, this type of trading is helping to fine tune my skills, it might also give me a better way to enter a cornflower trade and ride the trend, have a look at the cornflower thread for an simple idea I had for an exit when ridding those trends.

Did any of that come out in any coherent order?


Bob

Sounded good to me BobI've changed a few things too but agree on Levers ema's for the hourly. They are there for a reason.
I enjoy following your blog.

In a nice trade with USDJPY.. using pure cornflower.. on hr.. 15 and 5.. looks like it might go on with it..

Yes Bob, your reply was very clear, interesting idea with the high/low 12 ema visual. Keep up the posts Bob I too find them very interesting

C

Hello,

If I could trade 5 min charts (or any chart shorter than 1 hour) emotion free than I would have no need for this thread. The emotion that I need to be free of is the one that makes me want to take trades every dam time I sit here at the trading desk, It's really odd because I know how to trade (in fact I might post a chart later with more good entries) I know what I'm looking for and that I need to wait for that right entry, but still without thinking about it I jump into trades that are only 80% there and BAM stop time!

I know this is nothing new and that this what kills most traders in the end, the reason that I am posting this because when you say things out loud it makes them real... I know the problem and believe me its really only a small one but I will just have to find a new way of teaching myself to sit on my hands!


Bob

MMM me 2 .. patience and look very hard bfore i leap.. If i wait and look i find..Have you ever played with hour PPx points and yr Mov avs..??thought i mite have a go..