Darren's Journal

[Darren]

Thanks for your thoughts Immy - they make sense as usual!

[Darren]

Bad start for me this morning when everyone else in the room seems to be doing really well! I shouldn't have taken the first trade and the second trade I was stopped out within a pip before the drop. Next...

[Darren]

A couple more trades. The first one was a rent then I took the M5 break again (like I should have done this morning!) and added on at the M15 break. I closed early because of the bad morning I had had and those two trades bought me back to BE virtually. I know I shouldn't have but I did! Now I will try refresh my mind and trade properly this afternoon!

[Michal]

nice one Darren

[Darren]

And one more for this afternoon which brings me back into profit for the day:

[immy]

And one more for this afternoon which brings me back into profit for the day:

not a bad day afterall?

[Darren]

Indeed

Never lose faith!

[Dave]

Hi Darren. I'm sure you've realised this, but the DAX with this volume is a very different beast to EURUSD or any other less volatile instrument. For this reason I think we need to be a bit more flexible with our "move to BE" rules. On Friday last week and Monday this week I choked trades in their early stages because of these capital protection rules, when just leaving well enough alone and trailing M1 AIMS levels would have given some cracking trades. I suppose that's one big advantage of AIMS levels, the fractal nature of the market means that they don't care about pips, but rather patterns, and when there's volume I think we need to be flexible as well by following the signals of the larger boxes. I hope I'm making sense, but I'm thinking a 10 pop shift on DAX isn't appropriate in the current conditions, when we're seeing 50-100 pip W3!
Cheers

[Darren]

Hi Darren. I'm sure you've realised this, but the DAX with this volume is a very different beast to EURUSD or any other less volatile instrument. For this reason I think we need to be a bit more flexible with our "move to BE" rules. On Friday last week and Monday this week I choked trades in their early stages because of these capital protection rules, when just leaving well enough alone and trailing M1 AIMS levels would have given some cracking trades. I suppose that's one big advantage of AIMS levels, the fractal nature of the market means that they don't care about pips, but rather patterns, and when there's volume I think we need to be flexible as well by following the signals of the larger boxes. I hope I'm making sense, but I'm thinking a 10 pop shift on DAX isn't appropriate in the current conditions, when we're seeing 50-100 pip W3!
Cheers

I totally agree Dave, and this is the one thing I am really struggling with. To see a 1 or 2% winning trade that you have waited 2 hours for which then reverses and stops you out for BE is tough, but when those trades continue for 50+ pips the rewards will more than make up for it! A bit of a mental hurdling block I have to get over which is why I was talking about this on Friday. I find it especially tough when you have had a bad few trades and then find yourself in a position where the current trade has made up for the losses, you know you should let it run to bring in the profit but there is also the feeling that it could take you out for BE again, and you want to be level for the day again.

I realise that every trade is individual and should be treated as such, but I find it a lot easier to let things run if you haven't had a couple of losers!

Work in progress on that point!

[Darren]

This mornings trades. Slightly up so far...