Worker Bee's Journal - 5m Index Opening Strategy

Hello Guys. I just want to give you a short update.

January was again a little tough for me. I made 4 mistakes and -4,15R loss.

In February i startet to listen to meditation music during trading and use an anti-stress ball while waiting for a setup. I also took a week and a few us30 openings off to spend more time with my family. And, belive it or not, February was my first month without a mistake! I made 8,68 R profit and decided to end this month.

With this month i am also breakeven on my account again.

Next month i increase my risk from 1€ to 5€. Wish me luck.

Today is the start of a new trading month for me. In February i had my first highly profitable month. Therefore i am increasing risk. I have to if i ever want to make significant money.

But I have mixed feelings right now. I am scared that i wont be able to trade higher size without mistakes. Or that i will be able to do so but end up being unprofitable anyway. I try to calm myself. Past months would have been profitable without me breaking my plan. And last month i made no mistakes and was profitable. this can’t be a coinsidence?

So my target for this month is to trade without mistakes again. Process before profit. Doesn’t matter if the first trades are loosers. I have to keep calm and trade my plan.

your sample size is a little small to judge this confidently? but it’s very significant that previous months would have been profitable without having departed from your plan

definitely the right approach

good luck!

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Thank you for the first response here.

I was already beginning to think about what the point of maintaining a journal is, when i cant engage in conversation about my trading with anyone.

Sample size is definately a problem when one starts out with a new strategy. time will tell. I’ll keep posting updates.

On days like yesterday i wish i wouldn’t follow a strict 1:2 risk management.

After a little more than to weeks in march i managed to get ~3R. I missed one winning and one loosing trade (1R profit) because my wife was sick and i had to take care of our daughter. Today i dont trade because of triple witching day which can cause erratic and at least for me untradeable price action.

I am a little disappointed because of my slight underperformance. I know i shouldnt be, but i am. Lets see how i will perform the last two weeks in march.

4 R.

I had a loss and a breakeven trade on monday. Yesterday a winner and a little breakevenish trade.

This last trade is really painful for me:

So this month continues to be a slow grind. I hate it.

Edit: Today i dont trade. US interest rate decisions block trading for the whole day for me.

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This is my statistic so far.

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nice to see a Journal of trading based on an entirely sound premise - wishing you well with it

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I had a perfect day. Both trades worked. With 8R i am very satisfied and wouldn´t mind if i would trade the rest of the month ±0

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who wouldn’t be?! well done, here :slight_smile:

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9 R with slippage 8,75 R exactely. I decided to end this trading month now to spend a nice time with my family without me having to go trading in the afternoon.

Next month i will trading with 10 € or 1,83 % risk. I dont excpect much. I can only trade the first two weeks in april because we go on a vacation in portugal the last two weeks. But if i can make 2 or 3 R, i would consider increasing risk again.

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A little annoying is the constant negative slippage. I recently switched from IG to CMC. IG hadn’t slippage this high. And sometimes i got positive slippage there, too.

very good time of the year to be going - should be great weather without being unbearably hot … we’ll miss you!

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Thank you Flamingo. We are looking forward to our vacation. Hopefully you are right with the weather.

I just hope that i will be able to continue where i stopped after these two weeks. The sudden change from unprofitability to profitability keeps me thinking…same strategy just more discipline, if you walk away from that new mental state, this achievement might be gone.

What is your strategy? Sounds very similar to a strategy I had that had good results, but I’m currently working at the times I’d need to be on, so don’t get chance to do it.

I’d look at the first bar or 2 on the DAX at 8am and try to get in on a move as it usually makes big moves at that time. It often then retraces or carries on, either way can be profitable. Key is to getting good entry points because that index moves fast

I tried to explain my approach in my first post. And i am happy to answer specific questions.

I work part time. Half because of our daughter, half because i want to trade both openings.

I won’t continue this trading journal for a little while. Me and my wife/accountability partner decided that the initial benefit of a public trading journal adding pressure on me to stick to my trading plan is not needed anymore. I did a good job the last months and achieved live trading profitability.

Surprisingly, an active participation on babypips is rather unsettling at the moment. We have a lot of different traders on here with different trading styles and everybody thinks that his approach is the best.

I want to focus on me and my strategy right now without being given unasked advise. My wife, an auditor, will guide me the next few months while i target very ambitious scaling steps to achieve my goal to become a full time trader at the end of the year.

Then you will hear from me in this journal again.

Have a nice time!

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good luck.

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Hi @Worker_Bee I also trade the Dax with a similar style.

Tom Hougaad trades the Dax open, the Dow and Nasdaq open in his free Telegram channel. He is a very high stake trader and can be a bit aggressive, but there is a lot of useful educational material on his new ‘resource channel’ and his website
You are doing well, all the best.

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