iak's simple trades

Nice and simple trades. mainly 5min eur/usd line breaks. looking for 20-25pips usually. risk 5-20 pips.

Heres one i just entered

##edit: 04/01/12. currently learning Martin Coles 'market maker method'. trades will prob be a mixture now of my method and martins. Also, trying to decide whether to only trade in the direction of the 50ema or not. working progress.

###edit: 11/01/12. Now using rsi set to 9 and line breaks. done away with the 50 ema as it proved pointless. Looking for divergence on rsi chart. if divergence found then i only look for reversal of trend then a pull back and then a line break. if no divergence then i only look for continuation of trend line breaks following a retrace. Hope that makes sense. At the moment using this system is increasing my account by about 2% a day. I cant trade every day but i am looking for about 5% a week on average. i know some weeks i will make a loss so it nice to have weeks where i am up 5-10% as this will help my average. Trading only Eur/Usd on the 5min chart with no looking at higher timeframes. take-profit is set at 25pips but i sometimes just close if i feel it is not really happening. stop is set at 15 but i often make it larger in order to put it somewhere more sensible away from stop-hunters. Thats it for now. very simple, very easy, making me money. still learning so this may be edited again in future.

####edit: 08/03/12. 4hour chart with a 25sma gives me direction for trades. eg, price above 25sma i only look for longs following a trendline break on the 5min. 2 lots. lot 1 close at +20pips. lot 2 trail for as much as i can.

Out for -10pips.

A line break. order set above candle that closed above the break

Order long triggered. sl about 15pips. looking for 25 pips



out -15
not the best start to the day!

Short on break of candle that broke trendline. target of 25. sl 10

Hi iak is it wise trading today?

it would seem not! out for -10

Short. SL about 10 pips just above daily pivot. no TP at this point. will see how it goes.

Trying to learn martin coles method at mo. dont know if this is correct but waited for what i believe is a area of accumulation to end and then for traders to be mis-led into going long. waited for price to drop out of this area and then retrace a little. aiming for 50pips. hope that not being greedy as my usual 25 is already there for the taking. we will see.




Closed for +25pips. Looking for poss re-enter on continuation of trend.

Back in short on break of retrace line on 5min



Closed for +25 pips. mondays bad day now repaired pip-wise.

In short

Out for +20 pips. Happy today. 3 trades and up +70 pips.

Hi iak,my brother uses Martin Coles belief bars and likes his approach to the markets

Thats good to know. Have just read his new book which is excellent and was wondering whether to fork out for his course. Has your brother done the course then? It quite a expensive commitment doing the course and renting his software so would be interested to know how your brother is getting on.

yes he has done the course and renting software..breaking even at moment though

Ok in short after break then retrace and then a further break. Not sure if manipulation phase over yet though. we will see. looking for 25pips



Decided to exit this trade at BE as it not going anywhere and us market opening soon and they tend to reverse the direction.

In long after what i am seeing as market makers collecting sell orders by breaking down slightly then moving market quickly up again. Hey. could have messed up with this anaylsis but lets see



Would have been stopped out of this by now but moved my SL out of the way of any sudden stop hunting. hopefully now it shoot up. looking for 25-35 pips

I was a little naughty and moved my stop further down anticipating a stop-hunt which i think just happened. hopefully now price will shoot up



Well, messed that one up. lol

Gone short
looking for 25pips



Got out of this at +10 via my mob. phone as had to pick up my son. If i had left it alone it would have met my target of 25pips. messy day really for me which looking back it shouldnt have been. if i had kept it really simple like i am supposed to then i would have won 2-3 trades today. as it was i ended slightly down on the day but nothing disasterous. should be able to trade tomo from 10:00 til 14:00 uk time and will focus on simple entries. I will pay attention to what side of the 50 ema price is as a way to keep me out of silly trades. I will still try and see the market from martin coles point of view and will look to trade my simple entries when the market makers reveal their intentions. Sounds good and solid as i write and hopefully this will happen but i know what im like! we will see.....

Long order. Going against my 50 ema on 5min eur/usd which i said i wouldnt but hey ho....



#moved to BE
##closed at BE. This showed good promise and was about 15pips in the green at one point. Close to nfp so market cld go anywhere. gunna try and sit on the fence for a bit until direction revealed or i run out of time and have to go out.