Hi all.
I thought it would be nice to post a recent trade one of our students took on his own without any help or guidance from us. We had already closed the room for vacation over the holidays and as any new trader does just as I did when I started is just keep on trading thru the thin volume. I don’t do that anymore but understand the desire.
This is a great opportunity to express how important it is to make the method you trade your own and how important it is to your success. you will never be able to simply copy what a mentor does due to the fact that you have psychological differences that make it impossible. The sooner you learn your own mentality and adjust the method to your comfort levels the sooner success will come your way.
The story unfolded like this. On December 28th he sent me this skype message.
[12/28/2011 10:49:46 PM] Martin : just took a nice ride down woohooooo!!!! was in at 1.3071 and came out at 1.2971 as I’m leaving for UK for Russia now – Thanks for the training mate 
My reply was.
[12/29/2011 6:04:13 PM] Chad : Awesome buddy. That’s what I like to hear. It warms my heart when I hear a student taking trades on their own and raking in the profits. Have a safe trip.
A couple days later I got the idea
[1/1/2012 8:39:21 AM] Chad : Hey Martin. Can ya do me a favor and explain why you entered the trade on the euro for me. Im going to put your trade on the site. It would also be good to have a screen shot of your order too. Just figured it would be nice to post some student trades and not just ours. See ya later.
A couple more days go by and I get.
[1/2/2012 10:43:26 PM] Martin: Here is a screenshot of the orders I placed. You’ll see I placed 2 small orders as after I placed the first I had a strong feeling it was going to move in my favor. The reason I placed the trade was because I felt SM was wanting to short and was obviously accumulating and trying not to show any clear intent. If you look at the 4 hour chart the trend had been slightly up from about the middle of December and there has been a couple of significant rejections to the upside that had not been followed through with any downward action. There was one small push up that was rejected just before I place the trade, not really enough to call a stop run but I felt the accumulation had been completed and that perhaps SM felt they had drawn enough retail into believing in the upside.
As you can see from his message he is applying what he has learned to a 4hr chart which is of his own doing. I don’t use the 4hr chart but obviously Martin is comfortable with it and has turned a nice profit using it. Check out his orders and you can see he added over 30% to his account with just these two trades.
Here is his 4hr chart and orders he sent me.
