Worker Bee's Journal

A post was split to a new topic: I’m really confused

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.

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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?

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@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 :slight_smile:

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.

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I never really traded forex. You mean, that there aren’t moves like yesterdays sell off?

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. :roll_eyes:
Keep up the good work.

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Short @18415 SL is already at BE max profit is +16 points.

Edit 1: SL to +15 at + 27

Edit 2:Took 26,89 points / 80,67 € at support.

Edit 3: Very happy. See you tomorrow.

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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.

+15 full points / + 45,96 € today

+42 points / +126,63 € this month

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Lost 30 points -90 € shorting the high of the range at 18222. Dax just rallied straight to my SL. I end my day.

Still +12 points for the month.

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Good job, keep it up!!

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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 :nauseated_face:

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.

  1. Buy support and sell resistance.
  2. Trade the first touch if possible.
  3. Be more careful with subsequent touches and try to get a better price.
  4. Use a SL of 30 points and a TP of 30 points
  5. Set the SL to BE as soon as possible
  6. After a loss of 30 points, the day must be ended; don’t get caught up in a trend.
  7. Even if you are afraid, you should trade with full position size.
  8. 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.

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Recharge those batteries and come back fresh!