Hello llamados,
nice to see another follower of Tom on here. And I appreciate it, that you left your supportive words in my journal as a first action. Hope to see more of you. You are very welcome to post about your trading day in my journal so that we can talk about it. Or maybe you even want to create your own?
Have a nice weekend!
Hi Worker_Bee
Thanks for your response and offer to post in your journal. Due to work & other commitments only trade a few days a week so will drop in and see how you are doing. Would be good to discuss approaches and challenges more.
Ok guys, today was interesting.
I lost 10 points, BUT I am ok with that and I am happy with my trade management. Look:
Now, after half an hour, the adrenaline has cooled of a bit. And I am able to look at this day a little bit clearer.
Because DAX was at a previous high around 11am, my exit was reasonable. It could have reversed hard, especially around the full hour.
But I could have added more, not just a quarter position. In addition to that, I should have lost fewer points on my first trade. Why I decided against lowering my SL is a mystery. And losing 30 points in this range…well I could have saved me at least some of it.
But overall I am still satisfied.
Good recovery Worker Bee on what was a difficult early session in the Dax. I was trying to buy support off the open and dropped quite a few points early on. Ignored the ASR and AR range and got whipped around in the 15130 area. then went back in to buy support at 15100 added a number of times up 15115 and closed everything in the 15130 -15140 range to get back in profit (just) not impressed with the risk I had must do better. looks like some areas we were both trying to do the same thing and other the complete opposite but thats trading for you…
Made 15,5 points and missed out on many many more. This is one of these days where you bank as a breakout trader. With my new approach…not so much.
Yesterday DAX jumped to the daily 200 EMA. We see a tight range in premarket this morning. Maybe this will continue after the open, so I will be extra cautious today and if there is indeed a range I will try to trade it.
Made 18,4 points today.
Edit after two hours: Ok, seeing where DAX went, I probably wouldn’t have made more if I didn’t close my position at the top of the premarket range. I would have raised my stop to around 22 points and speculated on a break of yesterdays high. I would have been stopped out with 20-22 points in profit.
I don’t feel bad anymore. My feeling wasn’t that far off this morning. It didn’t rally. Maybe it does when USA joins this afternoon.
Made around 20 points with a half position / exactely 9,8 full points today. I am around 50 points in total now.
Edit: Do you see how I got punished today for adding but not willing to sacrifice profits? I could have easily said: “Ok. SL of this two positions go to breakeven in sum.” But no, I wanted to lock in profits, too. Well, I can’t do both. I have to remind me of this next time.
There is a lot of upside potential in my trading.
Made 6,4 points profit today. But I am really not satisfied with that.
Overall I am ok with 57 points in profit. I missed a lot of opportunities, a little bit of bad luck was involved. Today I just couldn’t pull the trigger.
Edit: But I am very proud of my entries. I had a few problems to get into the market, but when I did, price gave me always the opportunity to reduce my risk. The one full stop of 30 points on my only losing day so far, was because I somehow didn’t lower my stop loss. I lost 20 points more on this as I should have.
With this new approach I have a good feeling and I will continue to trade it.
Just made another 50 points with a half position, 25 full points in profit. It was Toms school run setup, that he shouted out to us. I entered into it with my own approach and I only risked my daily profit of 6,4 points, so I thought of it as a risk free trade.
Good start into the new week. 30 points.
Worker_Bee nicely managed trade. I got in a little late and came out and came out too early tbh. Then tried buying the reversal after a couple of small stop outs. Made profit for the session but could have traded better.
Nice job Ilamados. Accepting a couple of losses and then let profits run long enough to make a profit for the day is something that shows your winning mindset.
To much was going on today to post a chart. I lost 40 points with multiple small stop outs buying the first retracement. This was not good. I had two breakeven trades at the start and should have letting it go after that.
Next I made 20 points back with the second leg up. And 20 points with a short trade on the way down.
Happy to be breakeven today. I could have made a profit because my last trade is currently an additional 20 points down.
It rallies higher as I write, max 25 additional points. Ok maybe my exit wasn’t that bad. One can’t always hit the high or the low.
Again no chart from me today. I lost 15 points yesterday trading the US session. Today I lost 50 points being stupid again and forcing multiple trades before I had a nice short trade worth of 80 points.
So +15 points since my last update.
I want to trade less in the 1 minute timeframe and more agressively at 5m or 15m support and resistance. All of my big winners in the last two days were from the higher timeframe.
Doesnt mean that I wont enter in an existing movement on the 1m anymore.
Today was tricky for US open, you did well on your 80pt short, Tom H had a dreadful day as you probably know, I’m starting to find him quite distracting, though I don’t copy his trades. I only managed 4pts. but if I had just followed my strategy and not been distracted I would have made a lot more. 
Yes I was watching and hearing it live on my phone. Very tricky day. You can be proud you got out with a profit today. For me there was only one chance, I would have made money.
His first long was too early in my opinion. I had 870-860 in my mind as an entry point because of the previous low and the lower end of the range. With a little breathing room it rallied to 960 from there. Such trades I want to do more often.
His first short was a typical trade for me. Selling into 1m resistance. I would have totally done that before I said today that I want to be more aggressive around 5m and 15m resistance.
I know what you mean. Changing directions rapitly for example right? It is getting worse since he doesn’t trade his mechanical setups regulary anymore. But he is just guessing, like we do. He has a very high risk tolerance, can let profits run and can add early enough to make a realy good profit with it.
I don’t think that he is much better with the charts than we are.
Yes, I do tend to keep a fairly tight SL, many would say ‘too tight’ but if a trade is not going right I get the feel of it early and get out. My theory is - I can make 20pts back a lot easier than 50pts!
Sometimes (many times in fact) my strategy is telling me one thing, blatantly obvious and TH starts something different! Frustrating 