iak's simple trades

In short. eur/usd 5min. rsi9 divergence and a line break. price above 50ema so may poss get a bit of trouble.

Lovely and simple. 25pips in the bag and done for the day.

In short eur/usd 5min chart. looking for 25 pips. missed the earlier move up which is a shame as it was just what i look for. we had divergence with the rsi followed by a trendline break and bam up we went. anyway trying a simple line break for a drop of 25 pips hopefully. may reverse this trade if it breaks up instead.

Ha, had a line break to the upside. bailed on my short for a loss of 10 pips. in long now looking for 25pips.

ok, so got chopped up a bit there. Gunna now be more carefull with regards to the rsi divergence as it seems fairly reliable as a predictor of direction. managed to make back my losses and add a little profit when it did break down although i did have to increase my risk to 2% which is something i should try and avoid in future. esp. when my account is larger. purple lines show todays divergence.

In short. price been struggling to break resistance at 1.2800/2820 all day. short on a line break. eur/usd 5min. 25pip target.

Well i just entered as you can see below and as i post the trade has finished in 25pip profit in same candle. not bad eh?

In long following rsi 9 divergence and a line break on eur/usd 5min



Closed trade at +20pips as not confident it will go any higher. i not mistic meg but sometimes you just get that feeling. up +45pips today so that will do. lunch then finish my accounts. actually fuck that. lunch then walk in the sun. accounts tomo! lol

1st trade today. short following divergence and a line break. looking for 20-25pips



#stopped out for -15pips.

Back in short on line break



#Closed at +20pips. Thats all for today. Up +5pips today. should have left trade alone as it did reach +25. also, if i hadnt had such a tight stop on first trade then i would now be up 25 on day. something to think about. I was looking at higher time frames today even though i said i wldnt. to be honest i really dont think i need to bother with them for this method to work but may keep an eye on them now just to see.

!st trade of day. short on a mini trendline break and out of consolidation. i have also marked a pivot midpoint as this was also broken. looking for 25pips which is just before 2800.

Hi Iak, found your thread searching for Martin Cole.. I have also been learning it for a few months... I dont understand why youre trying to do some hybrid of his method and still using ye olde indicators and stuff like that. Theres no need for any of that, indeed you should have had any "faith" you had in them completely blown out of the water after reading his book!

Maybe i should take some of that back, as i just realised you havent done the course and dont have the software... :-)

I wish i could recommend it as a profitable trader - im not there yet, but Im confident i will be, after having no success for 3 years with "traditional" methods and shelling out over $7000 on a course for that privilege! So to me Martins course is very cheap and good value.

Yes there is an ongoing cost (though people do trade it without his software) but in theory it should be a drop in the ocean in the not too distant future :-)

Anyway just wanted to point out that his "method" uses no indicators as you have, and I think you can be confident purchasing the DVDs as worthwhile.

Cheers and good luck!
J

Been away from journal for a bit as been trying to tweak my simple trades. I now take direction from the 4hour chart. If price is above 25sma i look for trendline breaks long on the 5min chart. Opposite for shorts. I now trade 2 lots. 1st lot is closed at +20pips. 2nd lot is left to run for as much as i can manage to get before being stopped out by a manual stop trail. still learning about martin cole method but until i purchase the dvd course this is the best method i have found to make consistent pips.

Today I am looking for long entries on the 5min chart as currently at time of writing this the price is above the 25sma on the 4hr chart.

Long triggered.

1st lot closed at +20 pips. SL for 2nd lot moved to break even and will now trail manually and hopefully gain some more pips at zero risk now.

SL moved to lock in about 20 pips on my 2nd lot following a retrace then continuance of price. SL just under this.



#2nd lot stopped out for about +18ish pips. Happy with that. That will do for today. Off for walk in sun.

4hr showing price above 25sma still. hopefully it has just been retracing and is now ready to explode long. 5min mini trendline break was trigger and entered 1pip above trigger candle. 2lots. 1st target is 20 pips. 2nd lot will be left to grb what it can.




#trade failed. -20pips. These things happen. prob not got time to enter another trade today and with nfp coming up it looking unpredictable.

Hi Jazznos,

I also found this thread searching for Market Makers. I have Martin's DVD's. I haven't done the free 30 trial of the software as yet, But I will.

How have you been going with it? My first impression is that its useless without the Pat Software. If you can't see Fades and Jump bars, then your not trading his method. Whilst you may pick the odd accumulation area, without the Pat software, you won't see much else.

Regards Propex.