Worker Bee's Journal

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 TraderTom.com
You are doing well, all the best.

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After nearly 3 months with only minor profits around 1R each month, i decided to work on and trade a second strategy, while still trading my old index opening strategy.

Main reason for this is Professor Pips who told me to diversivy with more than one strategy and @flamingoproxy who is critical about trade management methods strategies like mine are using (2R all or nothing).

I call it “intraday swing trading” because it tries to buy low and sell high in those price swings. Basically i am looking for an extreme point against my daily bias (trend on daily chart), where trend traders would place their stop loss, to bet on an intraday reversal around this point (not exact at this point). When i identify a range a trade against trend direction is allowed.

I enter with limit orders and a rather wide stop loss to give price enough room to overshoot. Target is 1R but there i give me a lot of flexibility to lock in minor profits with my stop loss or exit at any point if i think it would be wise. If a movement looks very promising i try to get more than 1R.

With this strategy i only trade the opening of DAX.

I traded this strategy live since Wednesday and made 3,3 R with 6 trades and 80 % win rate so far. I’ll keep you updated.

sorry if i came across as a “critic”!! :crazy_face:

yes, that’s definitely intraday swing trading! :slight_smile:

it all sounds good, and most promising - wishing you well with it and looking forward to seeing more :sunglasses:

You don’t have to apologize. I have to apologize that i felt a little offended. As long as my first strategy was working very well, i could’nt understand what your problem with high RRR was. But in this sleepy phase right know where i trade just above breakeven for several weeks, i can understand it better.

It feels good to have a high winning % and seeing constant progress, a smoother equity curve. It will be interesting to see which of my two strategies will perform better in the long run.

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I have to admit, that i ditched my old strategy (for now).

Seeing success with an often winning low RRR system showed me that this kind of trading style suits me better. Even when my old strategy was still generating profits i was a mess because they were so small in comparison to February, March and April. Even if my old strategy has a comeback i would rather trade my new strategy (if it remains profitable).

I thought about my scaling plan a lot too. With my old strategy i was focused on a monthly performance. I wanted 8R per month and if i made at least 4R i was allowed to increase my risk. Problem was, in my good months i stopped trading around 8R. I could have made more, around 10-12 R those months. On the other hand. in the last months in which i traded around 1R each month, i got very frustrated.

With my new strategy i have made a new scaling plan. I want 5R. No time limit. If i have 5R i increase my risk. And after i am at my full account size, i will withdraw a small part.

I hit my goal today. Tomorrow i increase risk to 5 € per trade.

A thing i noticed, that i became very focused about making money. I don’t think about having a nice statistic anymore. I take even 0,1 R profit and i am happy about it and end my day. Like today. I needed 0,1 R to reach my 5R goal and took it without hesitation.

Thank you @flamingoproxy that you consistently insist that low RRR strategies are superior to high RRR strategies.

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Woke up today, saw DAX at Fridays higher low, my bias is long so i went long with half of my position size and made a quick 0,25 R in premarket. Didn’t trade the opening live only on demo, because i already made money today.

If i would have traded it live, then i would have made another 0,5 - 0,75 R. I am feeling bad despite i made profit again, 8 days in a row. I never did something like this before. Why am i so greedy? Why can’t i be happy?

I have to work on this.

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