The IGROK files - Adventures of a rookie using the Igrok method
All the best with your journal (and trading).
Your posts in Igrok's thread on your own learning/understanding of his methods will be of much help to others.
Looking forward to his new book.
Ok, exited trade at +19 pips. Price failed to breach upper TL at first time of asking and is heading down at this time. Now my mistake was to leave my monitor and eat some breakfast, so missed out on a few more pips, and an entry for the down move to the lower TL.
So first lesson of today is: eat your breakfast in front of your charts, not the attractive woman reading the news on the TV
Now price is approaching another touch of the lower TL, so possible break on. Shall watch and see.
The EURGBP autopsy just gets better and better (or worse depending on perspective) the more I inspect the trade's dead corpse. Looks like there was a MACD div on the 30 min chart which further confirms the Buy trade was the best option, and secondly I have redrawn the TLs as the old triangle appeared to be unreliable. I'm certain the div target 0.8380 will be reached today.
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Although I didn't profit from it.
Price bounced off lower TL again, so 19.6 in play once more. SL at 14 pips with reverse order, again, didn't get the perfect entry I would've liked, but I was timing my entry on 1 min charts and did the best I could. Didn't want to enter too early in case price suddenly moved the other way. Now this time I hope price continues upwards and breaks through upper TL.
Price seems to be stuck in congestion and not moving above 1.3739 for some time, and I don't like it when it does that. But when you're trading off lower timeframe charts, it can add an extra bit of paranoia to a trader's mind. Because of that I have moved my SL to break even. At least that way I protect my profits for today from the uncertainty of current PA.
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OK, price has moved to where I want it to be, and it has breached the upper TL. Now, because I'm now in a 'free trade', I'm inclined to leave the trade to run it's course. Providing the break isn't a false one, I'd expect PA to continue onwards to my MACD div target of 1.3780. It may not reach it today, but you never know.
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Good evening all,
Weren't many opportunities that I could see earlier today, but I had 1 Buy and 1 Sell order pending for possible 20.6 plays which have now kicked off:
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We're at 90% ADR on the USDCAD trade, so I may call it quits on that one shortly.
The AUDUSD trade seems to be stuck congested along the trend line for quite some time, and is testing my Patience, so I may break even on that one, we'll see how much tolerance I have
Morning all,
Have started the day with USDJPY, and a bounce off an upper TL that has formed. You will notice there's a lower TL, so the plan is for price to eventually test the lower TL again. If it is a valid triangle, then this is a 19.10 play, otherwise a basic bounce of TL 20.5 template.
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We are in a mid to longterm downtrend, so hopefully the odds are with me this morning. SL is 10 pips with reverse order.
Peace
TL now broken, SL moved to break even. Now the question is whether to cash in on profits now, or hope that the pair completes its' ADR in a bearish direction
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OK, decision time. Price has now hit a daily TL, and it will be its fourth touch. At the same time it is in a channel, and could bounce back north:
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Perhaps in this situation we just sit and wait until price breaks out. It's currently congested in a 10 pip range sitting above the daily TL. So sometime soon it will need to move. Only 53% ADR completed, so still a chance price can reverse.
I think I'll just wait, if the line breaks, the potential could be enormous
Cashed out for 23 pips, didn't look like lower TL is going to break, and then what happens...lower TL breaks! Son of a b***h!
All I had to do was wait another minute. That'll teach me. Now if price breaks any further I will be very annoyed. Never mind, better trade around the corner I guess...pass me the tissues
