Worker Bee's Journal

[Worker_Bee]

Long limit @16940, around the overnight low.

I don’t want to short into 16975-85, doesn’t look promising enough to me. Maybe I won’t make a trade today if DAX doesn’t fall to my long order during the opening hour.

Edit: DAX is now around the point where it could be shorted 16975-16985 but as I said, I won’t take that trade.

Edit 2: The short would have worked out nicely. SL would already be at BE.

Edit 3: My short idea would be stopped out for 0, so no reason to cry after a missed opportunity.

I think I will stop trading for today.

[Worker_Bee]

@Worker_Bee

Long limit @16940, around the overnight low.

@Worker_Bee

I think I will stop trading for today.

You f***** idiot!

No I didn’t take it. I deleted my order and wasn’t fast enough for a market order, as I was doing some other stuff. SL would already be at BE…

Edit: OK…deep breath. I am still happy for my ideas that work pretty well this month. This has potential.

[Worker_Bee]

Ouch, this would have been an amazing entry.

[Worker_Bee]

Had a short order @17000 but DAX only rallied to 16988 in premarket.

For long entries I am looking at Fridays close @16926 and fridays low @16874 today.

Short order is still active.

Edit: Changed short order to 17029. Added a long order @ gap close 16926.

Edit 2: Given how slow DAX is moving I change my short order back to where it was before.

Edit 3: yawn

Edit 4: As you can see DAX turned between my marked resistance level @16993 and my short order @17000. Unfortunate. I don’t know if I still want to short @17000 if DAX breaks this recent high. Probably not.

Edit 5: Deleted short order @17000

Edit 6: “Don’t be a d*ck for a tick” as Tom Hougaard would quote, i think it was Al Brooks, in such situations. But as I am already far past my desired profit target of 100 points this month, I can afford to be overly picky with my entries.

Edit 7: I looked it up, it was David Paul who said “You are a d*ck for a tick” to TH.

Edit 8: I end my day. Second day in a row without a trade. Still +160 points this month.

[Worker_Bee]

I am short since 17010.

Reason: After DAX broke through resistance @16993 it slowly climbed with low momentum. At 11:26 XETRA time DAX spiked on the 1m chart. This usualy is an ending move.

Edit: SL to BE

Edit 2: Stopped out for 0. Max profit was 8 points. Wasn’t what I thought it would be. No harm done.

Edit 3: Reentry. I see that DAX has a problem breaking through daily pivot point R1. And after 7 green 15m bars in a row I have a feeling that a retracement is in order.

Edit 4: DAX made a new low. SL to BE again.

Edit 5: Currently 13 points in profit. As I am already happy with my monthly profit, I will let it run without watching it. Stop is at breakeven.

Edit 6: Nice. Retracement came, currently around 28 points in profit. Question is will it fall further. As I said before, I will let it run for a big profit. If it stops me out for 0, so be it.

Edit 7: I will add a second short position @16976 with a 15 point SL. If it gets triggered I will put my SL on the first position 15 points in profit to still keep a breakeven trade.

Edit 8: As DAX lost momentum on the downside I delete my short order. I won’t add on this movement. I am still holding my first position.

Edit 9: As DAX ranges now, I take 30 points in profit and quit trading for today.

+190 points this month.

[Worker_Bee]

I won’t trade today. Because of carnival festivities my work told everyone we can leave at 12. Of course, as someone from cologne, germany I can only raise my eyebrows on what people here in bavaria call carnival or “fasching” as they call it. But we want to spend the day as a family and this is why I don’t even start to trade today.

If I would, I would look for shorts around yesterdays high which is very close to yesterdays close, so a double resistance and two reasons to short. on the long side I would trade from around 16960.

[Worker_Bee]

Good morning. Missed last two trading days which formed a nice V in the DAX. I think I would have traded at least breakeven. But you can never be sure in hindsight.

I will update this post if I made up my mind about the priceaction today.

Edit 1: OK, on the long side I want to buy into this uptrend around yesterdays close @16945. And on the short side there is a lot of resitance between 17033 - 17063. But after this V which formed I am a little cautious and want to watch first. But I most certainly will sell @17063 to speculate on at least a minor reaction to the all time high.

Edit 2: I am short since 17035. Doesn’t look like it would work. I will probably try it again @ 17063

Edit 3: Stopped out for -30. Short again since 17066.

Edit 4: No reaction whatsoever, just a straight line up up up. I will stop if I get stopped out again.

Edit 5: Like those bear bars. I hope it is a reversal. Not just a retracement.

Edit 6: Stop to BE.

Edit 7: Stopped for 0 on the second trade. I will short again at the top for a double top.

Edit 8: Looks like a very unfortunate breakeven stop on the second trade as DAX breaks lower. ■■■■!

Edit 9: Thought about buying under 17043 but missed my chance…I hesitated because TH school run would have given a sell signal.

Edit 10: If it breaks lower again I want to buy around 17033.

Edit 11: Ok. Bought @17040. Last trade for today.

Edit 12: SL to 17030 for -10

Edit 13: SL to BE @ 13 points in profit.

Edit 14: I am about to get stopped out for 0 again. Max profit was 26 points. This means I will end my day with -30 points and +160 points for the month.

Edit 15: Still in it.

Edit 16: Stopped out breakeven. Max profit was 30 points.

Edit 17: Long since 17027

Edit 18 Stop to BE after a 5m bullish engulfing

Edit 19: Stopped out for 0 again. Max profit was 16 points. Not my day. Three breakeven trades in a row. See you tomorrow.

[Worker_Bee]

Very narrow overnight price action. Gap up to a new ATH. We are in a strong uptrend. Price broke the range of the start of the year. Of course it could be a fakeout and a big reversal is coming, but daily XETRA volume doesn’t show any sign of that.

Gameplan for today: Buy a retracement. I could imagine buying support @17070 or yesterdays close @17046.

Edit 1: Given how DAX rallied at 8 I would already buy a retracement @17090 around yesterdays high.

Edit 2: DAX is ranging…a lot of patience is required.

Edit 3: As DAX is breaking higher now, I would buy a retracement at the low of the range around 17115.

Edit 4: I will step aside without a trade now. I will watch DAX and if I see a retracement I will consider buying it. But since I stopped trading breakouts, I have a hard time trading DAX when it just ranges, moves higher, ranges again and moves even higher.

Still +160 points this month. +222 points for the year, thats 22.2 %.

Edit 5: I will switch my pc off now. Monday is Washingtons Birthday. I don’t trade US holidays. See you on tuesday.

[Worker_Bee]

Couldn’t leave it alone. Opportunity was good.

Edit 1: Raised stop to +10 points

Edit 2: Stopped out for +10 (max profit was 27 points). +170 for the month. +232 for the year.

Edit 3: I would be stopped out for 0 by now.

[Worker_Bee]

One could buy DAX here, but because of the strength of the fall, I pass. I will consider buying at 17000 again. I deleted an order around 17023.

Edit 1: Nice bounce trade would already be at BE

Edit 2: I am a little disappointed and thinking about buying at 23 when it comes down again.

Edit 3: ■■■■ I think I missed my chance today. Would already be 30 points in profit. Had to much fear today and deleted a nearly perfect buy order.

Edit 4: It turnes…lets see if I can get an entry.

Edit 5: I will speculate on a double bottom.

Edit 6: I don’t think I will take a trade today. Missed the best opportunity today because of fear. Sad.

[Worker_Bee]

Good Morning. Didn’t trade yesterday. Today there is a BIG gap up. Mhm…I want to buy a retracement. But I am not sure where. Yesterdays close is far far away. I probably won’t short DAX.

There is a high chance that I won’t take a trade at all today.

Edit 1: Let this breakout traders have fun. I will sit back and be happy with my 170 points this month.

Edit 2: Ok I have placed a limit buy order at 17195. It is the low of the overnight range and the high from february 16th. 30 points SL as usual.

Edit 3: It is just rallying in premarket. +143 points for DAX today already. If we get a green open I can instantly delete my limit order, lol.

Edit 4: OK guys. I delete my buy order. IF Dax hammers down to my limit order I won’t be confident enough for it to rise again. I am honest, I would still take this trade if I hadn’t +170 points this month already. But right now, it is just not worth the risk for me, do you understand?

Edit 5: I mean if you scroll up, you can see several examples how I hesitate to take a trade since my good run at the beginning of the month. Maybe I have to work on this. Let me know if you have an opinion on this.

Edit 6: Jesus…so much edits and DAX hasn’t even open yet

Edit 7: I don’t trade fibonaccis and I didn’t have any reason to buy DAX at 17280, but look where the retracement went:

Edit 8: Also it peekabooed down the low of the (XETRA) day and rallied since. Bet many 5m opening range breakout traders got stopped out there.

[Worker_Bee]

Look at this entry. Stop already at BE. Max profit 17 points.

Edit 1: Max profit 23 points.

Edit 2: Stopped out BE. Max profit was 23 points. Very Sad. Wanted to TP around 30 points.

Edii 3: I thought about reenter my trade. But I didn’t.

Edit 4:
I did now.

Edit 5: Stop to -10 points.

Edit 6: Stop to BE.

Edit 7: TP at the wicks of the previous candles for +25 points.

Edit 8: If I get stopped out for 0 again I will stop for today.

Edit 9: Still in it. The last low didn’t take me out.

Edit 10: SL to +10 points

Edit 11: As you can see I raised my TP to 40 points. I like this last 5m candle and think it could retest the high of the first 5m candle.

Edit 12: I took 15 points of profit. +185 for the month. +247 points for the year. Thats 24,7 %. Have a nice weekend.

[Worker_Bee]

Good morning. Although I’d rather go long around 17360, I probably will try a short today if DAX tests the ATH. It smells like range week.

Currently no open orders.

Edit 1: I am eyeing 17426 - 430 as a short entry.

Edit 2: One could short the DAX here at 17419 because it is Fridays close.

Edit 3: And this would have given you the opportunity to tighten your SL or even set it to BE because price dropped instantly for 9 points after touching Fridays close. It is already at BE now, so…I didn’t take it, no harm done.

Edit 4: This turned out to be a very nice entry, as DAX dropped for 14 points from 17419. As I said, I didn’t take it. My SL would definitely be at BE now.

Edit 5: Would be at +20 points now. Seems like I have to trade a little more aggressive. Missed quite a few trades in the last two weeks.

Edit 6: I will enter at 17420 for a double top + against fridays close.

Edit 7: I am short now since 17419.

Edit 8: I had an important phone call, so I couldn’t write. I did set my SL to 15 points after price retraced to 17410 and got stopped out for -15. I have a new sell order at 17440 for the top of the range.

Edit 9: Looks like I can’t capitalize on my ideas today. I missed this short by 3 points.

Edit 10: I would have been better off by just sticking to my original idea of shorting between 17426 - 430. -15 today. +170 for the month.

Edit 11: Just went short at 17422.

Edit 12: Stop to -15. Basically if it breaks the double top which formed, then I am out.

Edit 13: Stop to BE. I want it to test the low of the day for a 50 point profit.

Edit 14: Thats it. I’m out for BE. See you tomorrow.

Edit 15: I can’t leave it guys. I went short again at 17430.

Edit 16: After I nearly got stopped out, I have the opportunity to go out BE now, but I don’t do it. I think DAX is ranging on the higher timeframe. Therefore I hold on to my trade.

Edit 17: Got stopped out for -30 and went short again at 17458. Stop is already at BE. I say bye already. Because this is my last trade today. Regardless of the outcome.

I did not so good today. I think it was impatience. If I just waited for my preset entries I would have done better today.

Edit 18:

Normaly I would be bragging about my entry, but today…you know how much I had to fish for this. I really hope this is the beginning of a test of the lows of the forming range on the higher timeframes. Right now it is still an intact uptrend.

Edit 19: It broke the trendline, wish me luck!

Edit 20: SL to +15 points

Edit 21: SL to +30 points, that was quick

Edit 22: Break down you sucker!

Edit 23: I’ve been stopped out for +30 points. I am happy that I could reduce my loss to only -15 points. +170 for the month. +232 for the year.

[Worker_Bee]

Good morning. God I wish I would have held my trade overnight. It would have hit TP for +75 around 4am.

Well, I was right that we are in a big range. Yesterday I couldn’t capitalize on that and lost 15 points.

Today I will be more patient.

Edit 1: Normaly I would have shorted at yesterdays close 17423, but it is the middle of the range. Not a good entry point.

Edit 2: I want to sell DAX over 440.

Edit 3: I want to sell at 17449

Edit 4: Looks like I missed the short by 4 points. ■■■■. SL would already be at BE. I will hold on to my order at 449 because this would have been good yesterday.

Edit 5: IF I would have sold DAX earlier, I would be out for 0 now.

Edit 6: My order was triggered.

Edit 7: We are at the very top of the range. I didn’t enter here but sooner, because in a range you never know. We have muliple tops to enter…

Edit 8: DAX doesn’t respect the range it breaks higher…

Edit 9: Looks like I get stopped out.

Edit 10: Nice turnaround with those wicks. Now I hope it falls back into the range and to its low.

Edit 11: It breaks higher again. I think its over.

Edit 12: It formes a narrow range at the top of the big range…come on fall back down.

Edit 13: Very nice 5m and 15m bars:

Edit 14: Stop to -20 points, just over those wicks.

Edit 15: It ranges at breakeven. If I get stopped out today, then I will note that I should rather go for the very top of a range and not try to catch price sooner.

Edit 16: IF I sold at the very top of the range, I would be out for BE now.

Edit 17: I am stopped out for -20.

Edit 18: Just went short at 17500.

Edit 19: Wow DAX is strong today. No big retracements since 17389.

Edit 20: Still ranging around breakeven.

Edit 21: Ok now it goes. I am fully aware, that this may only be a retracement and another rally may come, but I won’t set my stop to BE yet. Max profit until now: 18 points.

Edit 22: DAX broke out of the range today. It could be a fakeout. There was increasing volume on the XETRA daily chart. IF it is a fakeout, my entry around 17500 would be very good. If not, then this is gonna be a very bad day for me.

Edit 23: IF I would have set my SL to BE, then I would be out for 0 now.

Edit 24: Still in it…not happy about it.

Edit 25: What a shitty day. Got stopped out for -50. -70 points in total. +100 for the month.

[Worker_Bee]

Good morning. Didn’t trade yesterday, as I don’t trade wednesdays due to other obligations.

I gave away lot of profits in this month. I was up +190 points on one day and gave 90 points away. I thought about it and concluded that it was bad discipline on tuesday. thats the only real mistake I made. The other losses were somewhat avoidable, but they were still ok. But shorting DAX again and again in this heavy uptrend on tuesday was not good trading. I should have accepted the -20 point loss. The -50 point loss was unneccessary.

Ok, what about today? DAX still makes new ATH’s. I wont short it. I will only go long on a retracement. If we get lucky there will be a day like yesterday. A narrow range, where I could have bought around the lows and made money every time.

And this is what I have to accept. My new trading style is one that profits on slow days where price attempts to move, but doesn’t. If I see that it could be a trend day, I should stop right away.

Edit 1: In the past I made great money on trend days, but couldn’t keep those because of long periods of little to no movement in the DAX. Now I switched and I am able to make money on slow days, but I have to take care not to lose so much on trend days, while fighting the trend.

Edit 2: I have 2 entry points today. Yesterdays close at 17601 and the low of yesterdays range at 17560.

Edit 3: Until now DAX ranges right at the new ATH. Although it is tempting to sell at 17640, I won’t. I will wait for my preset entry points or a freshly formed lower range.

Edit 4: Yeah DAX ist just rallying. I will still have one eye at the market for a possible buy-in into a retracement, but I will cancel my open orders now and say goodbye to you.

I end my february not as good as one could have thought couple of days ago. I “only” have made +100 points, +162 points this year, thats 16,2 %.

Edit 5: I have a buy order at 17640.

Edit 6: I delete my order and end my day. DAX only fell to 17660 and is now rallying again.

[Worker_Bee]

Good Morning, DAX is just rallying again. Yesterdays close is already over 100 points away. Probably no trade today.

Edit 1: I have an open buy order at 17742. And I am thinking about buying under todays narrow range around the open.

Edit 2: Made both trades. Lost -30, won +30. I tried to get more on the second, but raised my stop to +30 when the trade was at a +45 points profit. I then got stopped out.

[Worker_Bee]

Long since 17723. Stop already at BE, max profit 13 points.

Edit 1: Stopped for 0, still open buy order at 17695.

Edit 2: Long again at 17722.

Edit 3: Stop to BE again (10 points profit).

Edit 4: Price bounced off of yesterdays close again (13 points max profit).

I hope it breaks above.

Edit 5: OK. It broke fridays close. I think we are in an uptrend now. TP is around 17800, but I will raise my stop or exit manually if I think I have to. I delete my open buy order.

Edit 6: SL to +13 points at fridays close.

Edit 7: I am +30 points right now.

Edit 8: SL to +22 points. Max profit 34 points.

Edit 9: Stopped out for +22. I end my day. +41 this month, as I made a +38 point US30 trade at friday with a 50% position. +203 points for the year, thats 20,3 %.

[Worker_Bee]

Good morning boys and girls.

DAX is gapping down. I am eyeing 17600 as a possible long entry, 17560 is good, too. On the short side I would sell a gap close at 17716, but this probably won’t happen within my trading time. I am thinking about 17680, too.

Edit 1: I would have bought 17640 but we are already there and it isn’t even 8am yet. I don’t trade before 8am. And in the last hour before XETRA opens 8-9am, I only trade really convincing setups. This isn’t one.

I see it coming, I probably won’t take a trade today

Edit 2:

I would have bought 17640 but we are already there and it isn’t even 8am yet

IF I would have taken it, I’d have a running breakeven trade right now. Well, you can’t take them all…

As you can see, I placed already my buy order around 17600.

Edit 3: I placed a buy order at 17633, right under the recent low.

Edit 4: Order is still active.

Edit 5: Placed an additional sell order around 17700.

Edit 6: I don’t think that something is happening today. I missed selling at 17680 because I was distracted and didn’t place a limit order. I say goodbye to you. I don’t trade wednesday. See you thursday.

Edit 7: DAX may trigger my order at 17700 any moment.

Edit 8: I missed my chance to set my SL to BE and I am now trapped in an uptrend. There is resistance ahead, I hope it turnes again.

Edit 9: Looks good. I won’t reduce my SL yet because there could be a double top. I don’t like to lose money because of a double top.

Edit 10: SL over the recent high. Double top came. If it break higher I don’t want to be in trade anymore.

Edit 11: Looks like 17700 is support now.

Edit 12: I was stopped long ago for -20. I was away and couldn’t journal. +21 for the month.

[Worker_Bee]

Good Morning,

had time to place a trade. I am long since 16697 around yesterdays close. SL is on BE. Max profit +11 points.

Edit 1: Stopped for 0. Max profit was +13 points.

Edit 2: I am currently in a long trade. SL is already at breakeven. It is basically a long at yesterdays close around 17698 and a trendline.

As you can see it went against me pretty much before going in my direction.

Edit 3: Aaaaand I’m out for 0. That sucks. Max profit 29. I really thought it would at least test the high.

Edit 4: It stopped me out and now it rises again. Just like this morning.

Edit 5: I could get +20 points, from 17698 to 17718 before XETRA close. So I am back at +41 points for the month.

[Worker_Bee]

Good Morning,

I could have bought DAX in premarket right under the overnight low, but I passed. Probably going to regret this again. I want to buy under 17640 and sell yesterdays close around 17716.

Edit 1: My buy order was triggered at 17630

Edit 2: Very volatile. I didn’t set my SL to BE yet although I was upo +16 at one point.

Edit 3: If it retests my entry and then goes up again, I will set the SL to BE.

Edit 4: SL to BE at 20 points

Edit 5: I took those 20 points…

+61 for the month. +223 for the year, thats 22,3 %

Edit 6: I won’t trade tomorrow, see you next monday.

Edit 7: Feeling a little stupid, because I closed my trade for +20 and it would now be at +200. But I tried to let my profits run all week, you know that I got stopped out for BE a lot. Taking profit was a good decision based on the behaviour of DAX in this week.