Trading is as simple as ABCD

Hmmm that was a bit of a fight to get that 2nd order on but looking ok now and both trades at BE. That had all the hallmarks of yesterdays cock up when I went in too early before the fights over ... Well now I'm at BE it can do what it likes as far as I'm concerned the fights over for me all risk off the table...

Now it will either fly from here or it will turn around shortly and head south again, who knows?? certainly not me so whatever happens from here on is out of my hands, I've done my bit getting in now its up to the market what happens next. If it does turn south I will start selling again too.

As far as I'm concerned I'm happy to leave this for the next MA turn before closing or market structure broken.

Now I'm going to have a quick look at the top trenders see if there's anything worth trading there??? Nice to see GBPAUD in 4th place that bodes well for my trade...

Now here's something to always be on the lookout for on the TTindy. GBPAUD is top of the 5 min table but red and also in top four on 1 min but green this is a sure fire sign of a reversal setup and its flying so well worth looking at as my chart bears out below..





I believe this happens because the London traders use the earlier sellers to provide the liquidity for their buying spree, just a theory but its working ok today...

Over 100 pips up now if I was to bank right now and its very tempting but we're 1 min trend traders here and this uptrend is showing no signs of slowing down so going to hold and if I get a chance add to it too...

Will try to hold this until the trend ends, lets see how we go....



Nice to see its now broken above the 5 min 100lwma so hopefully we have some 5 minute traders join us now and pump it a bit higher...

Thats a first for the system and worth recording for prosperity 100 pips up on one trade

And to be honest its the first time I've caught the first 2 CCI signals afdter the reversal which is the main plan..

All bodes well for the future doesn't it?? And just think if I'd been using my usual 1% per pip risk thats 100% on one trade, can't be bad can it???

Safely added another...

Unfortunately got last add on knocked off at BE and had a failed drive so trailing stops up below last HL . Lets see if I can trend trade this properly and just keep trailing up HL's until stopped out.

I guess I could get stopped out here due to NYO,s little pullback but there again it might push on like yesterdays did. By trailing up behind HL's means the market has to come back to me to take me out, the other way is if it continues to fail to get past its last high then take profit on a failed drive..

Just have to see what the price action looks like its going to do...

Stopped out by my trailing stops for 57 pips and the MA has just turned red, so a grand total of 98.7 pips today so that was an excellent mornings work very pleased with how I traded that today selling for first half then buying for 2nd half, just trading the strongest trending pairs until the trend ends...



Was 100pips up on that trade at one time so maybe I should just grab the runs??? But then I'm never gonna get the really big ones so its swings and roundabouts I guess.

One thing I am going to be working on is trying to get those first 2 CCI entries after a reversal, thats the way to go. Just like today trade the trend until it ends, then if its been a good move trade the reversal small risk large potential rewards...

Early days but things are looking up. Account up about 35% on the week so far but I'm thinking if I can start getting some consistency here then will go back to my old 10% of outstanding balance...

Gotta go to work now but ever nearer to the day when I can trade fulltime for a living...

Catch you later

You seem to have your entry figured out and are confident in it. The exit is tricky only because of greed. That is my experience anyways. I tend to run the opposite of you. You are willing to stay with a trade for more and I tend to jump ship to fast being afraid of the loss. Anyways, what I was going to say is that 100 pips on one trade is phenomenal! Personally, I would bank that, put my feet up and relax the rest of the day. In fact, I probably would have done that after the 41 pips you banked on the downside! This might be a time to look at your daily needs and family budget, then formulate a strategy to meet it. The pips you bank over the budget are like getting overtime. Maybe back down your risk and trade for less per pip, after you meet your targets. Your budget targets can be measured by day or week. But also make sure to have a "in the hole" strategy written out. How far will you allow a day to go against you? Another thought is that you have said before that you feel like you are trading the M5 on the M1 chart. When you get a runner, it might be very appropriate to move to a higher timeframe chart to see its structure. That might give you more clues as to when to bank and when to let it ride.

Just some thoughts.

Hi Capstone

Thanks for your comments much appreciated. I had a very quick look at your journal yesterday and posted some thoughts for you too, hope you don't mind? We are 2 of a kind me and you with very similar personal situation and goals in life too. We both believe in the 1 minute charts and have the same trading ambition, maybe we should have a chat on skype sometime? PM me if you interested in having a chat?

Hear what you're saying and I can see where you're coming from but I'm a little hesitant to put limits in place for myself as I believe its our own beliefs and limitations that hold us back in life so not too keen to do that. I'd rather the market set me my targets so I'm trying to develop a system that the market dictates entry and stops and of course profits too.

Like Mr V. said yesterday all I can do is get my entries on get to BE then its over to the market to decide how much I get or don't get as the case might be.

As for your taking profits too quickly, yes I saw that on your thread and was going to comment but thought that might be too assumptive of me but now you've bought it up, heres what I'd advise. Move to BE instead of taking the small profit, if you get taken at BE no harm done but if it runs you're laughing all the way to the bank. But most importantly the way to increase profits and runners is to only trade the strongest trending pairs. Simple as that because even bad entries come good and good entries become really good!!!!

The secret of good trading no matter what timeframe one trades is to only trade strong trenders simple as that!! If you're not sure which way its going forget it, look at another chart, look at all my winning trades that I post, is there any doubt which way they are going???? Sorry to harp on about it but my losers only come when I get stuck on a pair thats not moving...

Hope that helps and thanks again for your comments, much appreciated...

GBPJPY top trender and above its 5 min 100lwma so break and retest of a 25 level are usually pretty good entrie, gone to BE quickly as last high not far away, lets see how it goes??

Got knocked off the first one for BE but it looked so good at this 178.25 level I had to have another go. These break and retest entries on 25 levels are bloody awesome. I'm a pending stop entry man as I like the price to be moving my way when i get in but I'm seriously considering limit orders on these 25 levels should get in and to BE in same candle...

Lets see if this one sticks, seems to be struggling with the last high but when it goes it will be a nice bit of support to protect my entry...

OK over the first hurdle now its yesterdays close (green line) then its the 178.50 level.Then its clear water for a bit but these next levels are going to be tough, thats for sure..

Well going to leave that GBPJPY trade to see where it ends up as gotta go to work sometime soon. can't wait to trade full time and make some serious money, if anyones looking for a forex trader to employ give me a shout, couldn't imagine a better job, absolutely love it!!! Love the challenge , love the disciplne, love the money!!!

Some day soon I'm going for it big time, just a little more practice then go for it!!!

Catch you all later, have a nice day now

Short GBPJPY. Price action below both MAs with plenty of ADR left to go.

Clive, any chance your friend Ted would be interested in taking the currency strength meter I use in the upper right corner of my chart and converting it to measure the pairs? What I mean is that it currently measures the overall strength of a currency and gives it a measured number. What would be great would be to take these numbers and do the math on the pairs in order to see the difference between the currencies instead. I sit here and do the math in my head currently. SO for this chart, the EURUSD would measure 6.43 and the AUDUSD would measure -0.71. Maybe the indicator would include a line that allows the user to see the pairs they are interested in?

GBPJPY total = (20 + 30) 50 pips

Hi txfxtraderGreat trades awesome to see someone else having success. Keep up the good work.I'm working this afternoon otherwise I might of joined you.Catch up later...

Short GBPUSD

Short GBPJPY - 2nd trade

-20 GBPJPY
-10 GBPUSD