Ake's Trading Adventure

Believe in yourself, and you can achieve anything!

Ake, I’m looking forward to this thread! In fact i was thinking of starting one like it myself…
GOOD LUCK! :smiley:

Ake, I have no doubt you have the technical skills and knowledge to do well. Stay consistent, focused and NEVER divert from your plan. I had recently missed a +4% trade due to my limit order not filled by 0.3 pips !!! I didn’t chase it … as I didn’t want to start developing possible bad habits. Stay stone cold in your trading approach and YOU WILL SUCCEED.

Will be following your thread and wish you the best.

Hello, Aaron

I’m looking forward to following your thread.

I think that I’ve read everything that you’ve posted on Babypips in recent days, so I’m well aware of the struggles you’ve been facing in your trading. I’d like to make one observation:

You said in your introduction to this thread that you think your problems are due to a lack of patience, and a lack of discipline. I’m wondering whether you have mis-identified the problem. Just reading the two outlines you have posted here, I see the work of someone who is careful, thorough, and detail-oriented. Those are [I]not[/I] the characteristics of a person who lacks patience and discipline.

You have gathered, organized, and presented the basics of Michael’s methodology [I]in a way that few people on this Forum would have the patience and discipline to do.[/I] Your grammar and spelling are perfect, and your bullet-point presentation is perfectly orderly. Obviously, you took great care to create a credible and professional post. And I suspect that, before posting, you proof-read your work, probably more than once. This is [I]not[/I] the way impatient and undisciplined people operate.

So, I’m suggesting the possibility that your trading struggles are caused, not by a lack of patience and discipline, but by something else altogether. I suspect an emotional problem with [I]uncertainty[/I] and [I]risk.[/I] But, I’m no psychologist, and I’m not going to engage in armchair psycho-analysis.

I’ll leave it at this: If my suspicion sounds plausible to you, you might devote a little study time to the nature of risk, and to the mindset required to make correct decisions in a probabilistic environment.

Focus, patience… execute… control Risk… repeat.

[B]GLGT [/B]:57:

Good luck with this, I look forward to seeing your progress and hopefully you will find what is causing your inconsistency.

Hey Ake,

I admire your accountability and posting all your results previously in the ICT threads.

GLGT, looking forward to this thread!

My favorite book thus far that I have read on trading. I still have his 5 Fundamental Truths and 7 Principles of Consistency written out on a piece of paper at my desk. In fact I think I will read it again.

5 Fundamental Truths

  1. Anything can happen
  2. You don’t need to know what is going to happen next in order to make money
  3. There is a random distribution between wins and losses for any given set of variables that define an edge
  4. An edge is nothing more than an indication of a higher probability of one thing happening over another
  5. Every moment in the market is unique

The 7 Principles of Consistency

  1. I objectively identify my edges
  2. I predefine the risk of every trade
  3. I completely accept the risk or I am willing to let go of the trade
  4. I act on my edges without reservation or hesitation
  5. I pay myself as the market makes money available to me
  6. I continually monitor my susceptibility for making errors
  7. I understand the absolute necessity of these principles. I never violate them.

AK, I am going to be on this journey with you all the way…

It seems like we have a lot in common, more then we may know, that is why I copied your template and pretty much my way of keeping track of my trades even came from you. Just can’t wait to see how you do your equity curve so I can copy that too… :slight_smile: …I like your style and if it’s not broken don’t fix it…

Hopefully this is a new start for the both of us and if I have anything I can offer you I will try to help out, I also invite you to stop by my journal and do the same.

Now if you all raise your glasses I would like to make a toast, To a better start and a long lasting Trading Career, may all our hopes, dreams, and wishes come true…


I was stalking that 60-70 level myself. But i figured we just might find this drop tomorrow. And that rapid move before the news to 80 level scared me even to think about shorting :slight_smile:

Looks like we both entered around the same area and was looking at the same thing. I was able to pull 1 pip from this trade since I closed the trade as soon as it came back down to my entry. I pretty much got spooked also.

I noticed the sweet Hourly Type 1 Divergence during NYO, but was unable to enter a trade because I was at work…

Until Next Time…

Took the exact trade :slight_smile: my enter was at 25, but that doesnt matter. And i too, was expecting a bigger fall from cable. Well at least till 16165 level. Maybe we’ll see it… And that NEWS spike was excellent.

Edit: Exited at 70. Ake, give me a hint if am cluttering your thread :wink: After all its your trading journal.

Ake that spreadsheet is awesome! :smiley: Would you be willing to share with a brother? :wink:

Best of luck buddy :slight_smile:

Hi Ake,

I like your view for the week, I would also like to see a retracement but we are on a short term trending move down.
Have a look at this picture and see what you think. I feel the 1.3050 level and even a possible move to the 3000 to take out stops is possible.

Fibre-Daily 5-5-2012 | Flickr - Photo Sharing!

I’d like to see a move down monday, rejection Tuesday and look to buy on Wednesday.
But it’s entirely possible that this may be unfolding

Daily Fib 5-5-2012 | Flickr - Photo Sharing!

Hope I’m not cluttering your thread.
Good trading for the week ahead.

Edit: It’s a public holiday in UK Monday so that might affect things.

Nice Weekly Pivots, are those all manually done?

Do you calculate them yourself or do you use a resource to get them?

I’d like to know this as projecting pivots might be useful.

You had me fooled because it looks just like the daily pivots…

One thing I don’t understand, don’t you need to know sunday’s open to calculate them? Or you just calculating them to what the close on friday is and then readjust when the markets open on sunday?


What’s plan B…tell me you do have a plan B…:slight_smile:

Sorry, when I read your post that is the first thing that came to mind…lol

Excellent Plan B…