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Hi Sam, thank's.
According to holding my account together I'm quite happy with yesterday's result but not with my trading since I took out far to less Pips. As I said, there is so much to learn and to practise to catch good or very good entries and exits.
Cheers, Michael
"Want what the market wants", Bill M. Williams in "Trading Chaos - Second edition"
Start of session was similar to Tuesday - very indecisive in a 25 Pips range. I, and some fellows in the group, had a couple of rents in that period. I had 5 in a row. In hindsight I can tell that there were 2 good fruit setups to make 15 or 20 Pips which had reduced the losses, but anyway, entries and exits of the rents were ok. Those rents were - 43p overall which was not too bad.
I tried to stay patient and to follow my rules with discipline. Then right after 9:55 EUR news (Ger. unempl. change) it triggered a classic setup with green dot. For the rest, please look at the picture below.
Today I had the feeling that I dealt with this indicisive period and the rent at the beginning of the session much more relaxed and took one trade after the other without hesitation or fear. I was 100% confident that there will be a breakout which pays me back my rents. The result is, I think, that I made less suboptimal entries and exits. I only missed 1 or 2 fruities in the ranging period and the exit of the break out trade could have been at this beautifull down fruit at 10:26 which had good angulation and had peaked with divergency. Next time ;-)
Today's result:
- 10 - 10 - 11 - 6 - 6 + 40 + 6 = +3 Pips. Yes!!! I've kept my account together although conditions were difficult at the beginning.
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"Want what the market wants", Bill M. Williams in "Trading Chaos - Second edition"
immy wrote:What you paid at the beginning was the Expense you paid which made the Profit possible. Once you break the barrier of fear and tendency to predict you will enter the next level of trading. wishing all of us the same levels... and many pips to you and all of us... enjoy
Yes, Immy, very true. Not wanting to predict the direction is one of many things I have to work on ;-)
Thanks and many Pips to all of us
"Want what the market wants", Bill M. Williams in "Trading Chaos - Second edition"
Darren wrote:I took very similar trades! Nicely managed. :-bd
Thank you, Darren.
The profitable trade was nice - I think for you as well. It wasn't a homerun but it paid our rents ;-)
It wasn't very easy to keep it going today, was it? But with cooperation and exchange with you and the other fellows in the chat, it was much easier to stay calm and focused. It takes away the feeling of being a lone fighter.
Cheers, Michael
"Want what the market wants", Bill M. Williams in "Trading Chaos - Second edition"
Compared to the last 3 days LO was very clear to me. Again, when it moved it really did it nicely.
1 good campaign with an interruption and one small trade against M1 trend but with M5 trend.
Today's result:
(20+11) + (33+29) + (11+6) = + 112 Pips very straight foreward. No rent today, I think market was happy with the Pips I gave the last days ;-)
Compared to the last 3 days LO was very clear to me. Again, when it moved it really did it nicely.
1 good campaign with an interruption and one small trade against M1 trend but with M5 trend.
Today's result:
(20+11) + (33+29) + (11+6) = + 112 Pips very straight foreward. No rent today, I think market was happy with the Pips I gave the last days ;-)
Well Done Matey! very nicely played... i can see that you got out of it and you still felt the market was still moving and you getting out was premature so you entered again. Just imagine had you not gotten out and stayed in with 2 more addons... you are talking about more than 200 pips from 30 min of trading. What's more important is that its not "me" or someone else trying to convince you to trade this way right now, its you showing your charts to us telling us that this is possible. really pleased.. me is...
I think it should be pretty obvious to you now that if you make a lot size based on 10 pips, account should have grown 22.6% this week. Can we double our accounts every month with this?
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
No trading today due to much work in real estate business and some family-things. Nevertheless it was a good training to stand temptation to look at the charts during breaks. I think it's important to me, not thinking about trading all the time while not in front of charts.
Tue. Dec. 02, 2014
Screen time 9:00 - 9:45 am (GMT+1) M1/M5 DAX only
LO session started with a short period of ranging but went up sharply after bottom was reached where a nice fruit appeared on M1 and M5 as well. Had a rent as first trade and a nice winner with the up-move. I was a little bit lucky with my initial trade at the winner since down range was not completed at that time but I survived the pull back. The add ons were very clear and the exit of the long trade was done manually at sharp down fruit.
Again I had a rent before it went in my favour - IMHO, the history of today's DAX trading is very similar to many other profitable days with a short period of indecision at the begining before it moves strongly in one direction where we can make good profits.
Today's result:
- 17 + 133 = + 116 Pips
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"Want what the market wants", Bill M. Williams in "Trading Chaos - Second edition"
No trading today due to much work in real estate business and some family-things. Nevertheless it was a good training to stand temptation to look at the charts during breaks. I think it's important to me, not thinking about trading all the time while not in front of charts.
Tue. Dec. 02, 2014
Screen time 9:00 - 9:45 am (GMT+1) M1/M5 DAX only
LO session started with a short period of ranging but went up sharply after bottom was reached where a nice fruit appeared on M1 and M5 as well. Had a rent as first trade and a nice winner with the up-move. I was a little bit lucky with my initial trade at the winner since down range was not completed at that time but I survived the pull back. The add ons were very clear and the exit of the long trade was done manually at sharp down fruit.
Again I had a rent before it went in my favour - IMHO, the history of today's DAX trading is very similar to many other profitable days with a short period of indecision at the begining before it moves strongly in one direction where we can make good profits.
Today's result:
- 17 + 133 = + 116 Pips
First of all Congratulations and Welldone. Now to the finer points. The short was a greedy short, you added without an add on signal. Don't let yourself do it as it is dangerous and leads to mistrusting yourself and lack of discipline. second you missed the fruit entry otherwise you'd be sitting 160ish. Well done over all. I say carry on demo until the end of Decemebr. New Year New Account new fun. IMHO>
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
... The short was a greedy short, you added without an add on signal. Don't let yourself do it as it is dangerous and leads to mistrusting yourself and lack of discipline. second you missed the fruit entry otherwise you'd be sitting 160ish. Well done over all. I say carry on demo until the end of Decemebr. New Year New Account new fun. IMHO>
Thank you for your comment, Immy.
The add on of the short was a mistake. I failed to notice that it was H1 AIMS high level and not low level otherwise I wouldn't have added on.
At the long trade, I didn't take the fruit since I was already in at the previouse fruit, but you're right, I should have taken it ;-)
According to demo/live trading, I'll follow your advice and stick to demo until end of December. It will definitly help gaining confidence.
Michael
"Want what the market wants", Bill M. Williams in "Trading Chaos - Second edition"
