Did 3 breakeven long trades today. 18204, 18204 and 18203. And then it went without me. At least I tried. Money arrived on my account after I finished trading. I will increase size after easter. Happy holidays.
Edit: It is worth reminding, that I did not make all my profits buying the uptrend in the DAX. I shorted it too and traded ranges from both sides. But I burned my hands on one day losing 70 points shorting a long runner and stopped shorting this uptrend because DAX is just ridiculusly strong.
The tought crossed my mind, that my performance will drop when this trend ends, but I don’t think so.
You are doing well - good luck with the up-sizing!
Personally, as 5M/1M trader, I don’t worry too much about the daily trend though I suppose it helps to have all the winds behind you. I know Dax has been strong for a few months now but I wouldn’t let it worry you from a day trading point of view (so what if the daily has a bit of a pull back?). Al Brooks once said ‘Concentrate on the timeframe you are trading and may be only one higher timeframe’. I know TH loves his 4HR double tops/bottoms (enough said ).
Just watch your money management, I know you will.
Missed entry today and it went without me. Wanted to buy lower around the pivot point and after it broke higher and came down I wanted to buy at yesterdays close. Came close but not close enough for me to pull the trigger.
If it is missed, it is not a problem, because tomorrow or the next trading session you can open an order. The market is very fun because it moves 24 hours a day. So that when we miss one opportunity, the next opportunity we can open the order again. And I appreciate the trading journal you wrote, good luck and consistency.
I am hesitating today. I am clearly not confident with my new size. I missed a nice 30 point long trade from 18492. Well I have to get used to it somehow.
Edit: Missed an alternative entry at 18505, which would also got me 30 points.
Edit 2: Well I think I stop for today. My strategy was good, but I just couldn’t pull the trigger.
Oh my! @Worker_Bee Bet you wish you hadn’t stopped early. 150+ on Dax at 13.40 UK time.
This move also occurred Nas and Dow. I missed it too but it makes me wonder why people bother with forex. Have you thought about increasing your position size gradually, if the double jump is freaking you a bit?
@Johnny1974 Good old IG…feels good to see this trading platform again.
I would have missed it anyway. Not my setup. I don’t trade breakdowns or breakouts anymore. But maybe I would have gone long at S1 and would have made 30 points again
I pulled the trigger today! From my phone at work. 4 breakeven short trades with a max profit of 20 points. DAX chopped upwards this morning. Sadly I didn’t TP. But still, I pulled the trigger. And I didn’t freak out during drawdown.
Well done getting those trades on, especially on your phone! I think it’s not too bad to get to BE, it’s free trade after that. TH has started moving to BE sooner than he used to, not moving to BE has cost him heavy in the past.
No big runs on forex yesterday but I don’t tend to look unless I’m bored.
You managed to swerve forex! You get more bang for you bucks with indices, ATRs are 4 or 5 times higher on indices, also they seem to go in distinct little runs. I only tend to do break outs - breaking out of Keltner which I have on x1shift. Talking of IG, that’s where I found Kelter with a default of x1, their platform is really nice and easy. I also use TD365, perhaps you do, they are good for leverage and fixed spreads but I find their platform awful, feel spoilt by IG.
I had a weird day today - I was doing some scalping practice (good for getting into the flow) on Nasdaq 16 trades 14 winners 2 losers, not bad eh? BUT the 2 losers -20pts and -20pts. up 6pts on day ALL my own fault too, I kind of drifted off my strategy and broke a couple of serious rules. Sometimes I do worry if I’m going a bit senile.
Keep up the good work.
After I missed a very nice pre market trade because I was driving to work, I went long with a 50 % position at 18114 (BE) and 18102 (+30 points on a 50 % position). I took both trades from my phone.
Ok guys. I had an awful day. I couldn’t let the market be and shorted again and again and again. I am -140 points this month
Today I doubled my worsed day so far, where I lost 70 points. Bad discipline ruined a very good year. In points I am still up, but I increased size this month…
Ok, what to do now? I will trade like I am used to, but with additional rules.
I won’t trade 50 % positions anymore. I looked through every trade I took this year and this costed me A LOT. And I will stop for the day when I reach -30 points. No buts…not just this trade. If I can’t keep myself under control I can stop trading for good now. This is really the only thing that holds me back and breaks my neck every ■■■■■■■ time.
Heres my trading plan for the future.
Buy support and sell resistance.
Trade the first touch if possible.
Be more careful with subsequent touches and try to get a better price.
Use a SL of 30 points and a TP of 30 points
Set the SL to BE as soon as possible
After a loss of 30 points, the day must be ended; don’t get caught up in a trend.
Even if you are afraid, you should trade with full position size.
You may let the trade run or close it early if you have a good reason.
I will go on a vacation this and the next week and won’t trade for a few days. Thank god, a trading break. I need it.
Still at it. I am trading again since April 26, but in private.
My simple support and resistance strategy is working great (+82,7 points). I reduced size, reduced % per point and trade it much more patiently (only 3 trades in 5 trading days).
My problem is discipline. Therefore I won’t increase size so fast anymore. I only trade one setup a day and be patient.
Today I shorted the overnight high @18001 30 minutes before the open in the DAX, because the 1h candle looked like price would react to it. I made +30 points.
Hello guys. I made a longer break because my second daughter was born in June. I changed my approach a bit to account for my very busy schedule. I decided to start a new journal for that new trading style because this journal is a mess, showing my bad dicipline and I want to make a clean cut from here.
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