MY feed never broke below the 1.25 fig… my long got filled at 1.2521 with a 30 pip SL (1.2491) currently SL at BE
I was surprised to read some of you got stopped out? are you using very tight stops?
wanted to scale out most of my position at weekly pivot… but I missed it, as I wasnt at the screens at that time…
tempted to scale out some now… but I need to stick to my plan as long as I still have hope for price to climb up again;)
One thing I was wondering… tomorrow is going to be a heavy news day…and ICT said he wont be trading BUT it seems to me that LO killzone should not be too affected by news? so maybe I’ll be watching for half a day tomorrow…
good luck and happy hunting
cheers
edit1: scaled out half of my remaining position at weekly CP as planned
edit2: closed remaining position at +70 pips. Close to 2% return with 1% risk
Same here FredFresh. Long filled @ .2525 and stop of 30 pips, never got down to .2500. Took most profit @ .2550, just below weekly and daily pivot points.
I’ve been watching for an OTE long with the daily bias on the 1H chart since Sunday, which was filled during the evening. Wasn’t looking to good as the price meandered around all LO and so I nearly closed it manually but as my stops were in, I left the order running. My SL was avoided by 1 pip and price started to move back up. Once I got 20 pips ahead I locked the trade at break even and then trailed the stop tightly (I know not the best idea during the day) as I had lost confidence in the plan I had.
Anyway I got out with my SL being hit for +10 pips (1%) gain. My first demo trade and my last (for this week)
Only 1% but I feel good as I waited from Sunday for that trade and maybe not the best win but I did use patience and also avoided moving my stop levels. Hopefully next week and so on will be better. Blank chart attached (EURUSD) with entry and exit.
Also cancelled my pending order buy for GBPUSD @ 1.5810 as price went without me…
How close were you all placing your stop? I entered at 1.2525 and price never touched my 30 pip stop…1/3 off at 30 pips. Took another 1/3 off at 60 pips for no other reason than ICTs post scared me off from holding 2/3 til 1500 GMT…great trade management right : ). Will hold 1/3 for til then, but with a tight (20-25) pip stop.
I went long at 1.2519 with 25 pip stop at 1.2494. I assumed that if the price will pass 1.2500, which was 90% retracement level, then it would go lower.
I closed 75% of my position at 30 pips with moving stop to breakeven. And the rest was closed at limit 1.2582 which is 200% fib projection of Asian Range swing break.
It’s screaming to us, right? I’m soooo tempted to go for it, but it would be my 3rd trade for the day and that might mean some serious overtrading issues for me
EDIT: Aaaand couldn’t resist. This just looked too good to be true, but will see I guess. In @ .2606.
I’m staying out today as it wasn’t part of my initial analysis so it would be wrong for me take it I think (even though I’m sure ICT’s analysis is good and I can see where he’s got it from) I want to trade my own setups for my own development.
Yeah, I wouldn’d be surprised if that’s going to be a lesson for a newbie here. But I really feel good about that one, unlike the last trade I took in hurry. Will see what the market says about that
Tricky that though, if you hadn’t seen ICT’s screenshot, would you have made the analysis yourself, and then you would have? So if that’s the case, you are not trading your own analysis
I took the long fiber this morning… but it went for a loss… Got in around 1.2524 with a 20 pip stop and was tagged out just before the initial move - got to be content i had the direction of the move right i guess…
Stop was 10 pips below the low i drew my smaller OTE from so was defo within my parameters.
Ive really been focusing on market structure on higher and lower time frames recently, here is something which i really should have spotted which could have kept me out of entering when i did…
Higher time frames remained bullish (despite my thoughts of a possible bearish week)
The lower time frame suggested bearish action…
The black area was the smaller OTE in which i took my trade… But you can see the highlighted very short term swing high on the 5m chart which was failed to be broken before my trade came down to tag me in. This should have been a tip off that market structure remained bearish at that time and we had more room to go down… I think a move above this level breaking market structure to the up side and then a retracement down would have worked out well…
Oh well, live and learn, just a knock back to see the live accounts first trade go for a loss - but im hoping longer term ill go back into profit :)!
Congrats to everyone else who bagged the pips today!
Sanj - gives you confidence in what your doing though, gee wizz, I’ve always tinkered with my strategies, filtering, observing, adapting, but except for some basics, my actual trading changed quite substantially, and I’ll be trading this full whack from next week, I know it works, I’ve seen it just all fall into place.
Oh for sure… I remember the times where id enter a trade and it would just go the complete opposite way to what i thought. Now at least for the majority of the time, my direction is correct is just getting my entry and exit right…
But definitely had a lot of light bulb moments recently - time to put them to work!
Now my blue line has crossed the black, line, trade short into LC London tactic, assuming we’ve had the high of the week, leave TP at 200 PIPS, Interest announcement will wizz it down there some time tomorrow, off we go to the races, actually at best you’d get into Break Even at LC tonight, and then after lunch tomorrow, whipsaw you out before you take any profits, still, it is a trade idea though.
Thats what I’m saying. I was only looking for the longs for this week, so if I was to trade that short, I would basically be trading Michael’s analysis and not my own. I didn’t have any intention of shorting today so I would have just missed it, which I’m fine with as Michael is teaching me to learn to take my own trades and post them after I have managed them so I can hopefully learn to stand alone one day and make my living.
The long I did trade was from a pending order I made on Sunday.
It does suck, i can vouch for that today, but personally, re-entering after im stopped out [I]doesnt work for me[/I] - even if it means i miss the move…
One thing more important than your analysis - get your mindset right. For me anyway, if i take a loss, i cant just shake it off in a minute, ill sit the rest of the kill zone out, look over what i did wrong and come back next kill zone to see if anything presents. Its what i did today, and didnt get filled on a NY entry either…
There will be other days / weeks / months and opportunities to grab pips, you dont need to push it everyday…
sucks being right and losing money lol