12th-16th May P/L: +0.1

Monday Issues:  Just missing PT's as not taking spread into account.

Tuesday Issues: Worried about passing on so many trades, patience proved to be better. When a setup on one chart doesn't look fantastic there is often another pair setting up which has a clearer run.

Wednesday Issues: Flood at Flat meant away for whole day, missed a good SAR on GU.

Thursday Issues: Very tired from Wednesday stresses, missed a good HSL on EU.

Friday Issues: Ranging morning where nothing met my criteria. One came close but O/C ag 20, however as on a level (0.500) and R1:1 was achievable may want to look into being more lenient with these next week.

R+0 No Trades: Nothing Met My Critrea

EU Obs

 EJ Obs

GU Obs

UJ Obs (Best possible)

Some Price Action Thoughts For Myself Consider

Acceptable PB/RL

Unacceptable PB/RL

Flag Exception

R+0: Starting To Get Aprehensive! Missed Trades, Tentative and Tired After Stressful Wednesday

Generally now very weary if a setup occurs away from a S/R level,  however the fact is price is unlikely to reverse without at least testing the prior top or bottom in some way so taking a trade back torwards that area (if it can easily pay for a 1:1 within that space) is a fairly high probability trade (didn't Al Brooks mention this?) Question Marking my own thoughts today as quite tired and could be talking drivel.

Another Obs is this...  Once price surpasses yesterday's hi or lo it generally takes off as there's little S&R in the way. So Maybe I can relax a little and trust the trend when price does this? (drivel or not?)

EU Obs...

 GU Obs (similar trade to EU but S just underneath made it less attractive)

EJ obs (Once YTD's low is surpassed price is a more "orderly" in term of MA's

R+0 No Trades: Flood at Property I Rent Kept Me Occupied

R+0.6 Deducted Spread from PT To get more accurate 1:1

GU trade...( could I have got more out of this?!)

EU obs... lots of S&R would have made trading it difficult...

However...

EJ obs...  the EJ chart was v similar to the EU but with far less S&R issues.

R- 0.5 Just Missed PT's... Need To Base PT Off correct entry not Slipped one.

EJ Trades...

 EU Obs...

5th-9th May P/L: +0.3

Monday Issues: Bank holiday in UK so not working.

Tuesday Issues: Difficult, could have held longer to winning trade. Took profit at WN

Wednesday Issues: TSLing too quickly? Good entry that came back to be tested before reaching PT.

Thursday Issues: No setups off the 20EMA ( at least in the AM) some of Yesterday's levels.

Friday Issues: Wifi dropping but also some fear. Avoided a RL to R short as looked sharp and likely to test R again resulting in an premature stop.  This indeed happened and then surpassed PT.  Another piece of evidence suggesting my ISL my be too tight and my TSL is being trailed to quickly.

R+0 No Trades, Poor Wifi!

Wifi dicking me around the last couple of days.  Updated the firmware on my router, fingers crossed.

EU Obs...  sods law saw this setup but wifi screwed me...  However would have req a wider ISL.

R+0 No Setups at 20EMA, Some at Levels

Saw a couple trades at levels but not at the 20ema which is currently my only entry so just obeying the rules.

EU Obs...

UJ Obs...

R-0.6 Might be Trailing too Quick

UJ Trades...(Might have TSld too quick trade 1)

EU Obs...

Today's Entry Technique (Al Brooks)

Re-read my notes on Al Brooks "Best Trades" chapter. My entry today was far more inline with his words.

"if a trader has the patience to wait possibly hours for a best trade to develop and he restricted himself to only the trades in this chapter , he would be a very successful trader...the best trades req alot of patience, patience to occur and patience to work out...learning to restrict yourself to only the very best trades is perhaps the most difficult part of trading.  If you are not making money it is something that you must seriously consider...The single most important trade to avoid until you are skilled is trading within BW (in a volatile range) and a TTR (tight trading range)...many WT setups will look terrible , but you have to trust your read and place your orders or else you will be trapped out of great trades, like so many weak hands... in a strong trend you do not need setups you can enter at anytime, they merely allow tighter stops... Once profitable increase size not setups"

NB : My setups are now very similar to Al Brooks's

1.  EMA PB/RL (S&R PB/RLs) ... My LSH and HSL @ 20ema in a strong prolonged trend is v similar.

2.  clear strong REV after maj TL breaks... My SAR of a LSH or HSL @ 20 EMA  in a strong trend or at S/R is v similar.

3.  FBO/FBD and BOPB/BDRL of patterns from yesterday's S/R... My LSH, HSL and SAR at S/R are v similar.

R+0.9 Only One Trade That Setup "Correctly", some thoughts on exits...

Couple of thoughts on exits...

1. Once in a trade should I trade through levels and let price action take me out?

2. Or should I use a couple of PTs?

Tbh I like the sound of "1" but guess the market will tell me in due time.

GU Trade...

EJ Obs...

EU Obs...

No Trades just an Observation

EJ Obs:  Best trade at R + a setup