Ralf's Journal

[Skywalker]

Hi everyone,

After several months of learning and testing by myself and within the valuable Skype Group, I’ve decided it's time to start my journal. So here you go!

Trading Plan

Strategy
Fruit trading on DAX M5 on a small live account. (I’ll also look at the major currencies on H1 and D1, but journal's focus is on DAX M5)

Target
Several batches of 20 consistent campaigns with no more than 1 mistake each.

Trading Hours
Focus is on FO/LO to 10:00am (GMT) and from NYO to 04:30pm (GMT) but might extend/change on news.

Entry
Entry mode will primarily be fruit (and occasionally classic breakout right at LO and NYO) with at least 1 add-on at the next AIMS Level.

Exit
Exit mode at stage 3 will be AIMS level, green line (i.e. move SL to bar closing opposite side of green line) or valid reverse fruit. I’ll also start trailing bars within stage 2 and 3 if strong momentum. Other than that I’ll try to give my trades as much leeway as possible by sticking to initial SL and resist the temptation to reduce risk too soon.

I’m looking forward to read all your valuable input and to learn from the group to enhance my trading and mental skills.

Cheers,
Ralf

[immy]

Congratulations on successfully starting your journal. AS usual I won't hesitate to once again put emphasis on the importance of this step. This surely will be proven to you in time that this step was the best step you have taken towards a lifte time of consistently successful trading. I would also like to say that your trading plan is one of the best I've seen. Simple, precise, concrete and accurate. It has all the ingredients of a successful trading plan and I have no doubt you will succeed.

All the best!

[kiravon]

Hello Ralf
Great start to your journal, I'd forgotten about
the stop and reverse strategy, screenshot is clear,
deliberate and very helpful to those of us still
trying to put it all together

[Skywalker]

Thank you Immy and Michael for your comments.

I know it's on me now to walk the talk!

[Skywalker]

No trades for me at FO/LO session today. I missed the classic breakout short and did for some reason not dare to use long fruit (e.g. fruit at 11:05) to reverse and get into the trend. I then took a break and the nice long fruit at 13:25 was not within my trading hours.

At the afternoon session I took the short fruit right before NEO but missed to reverse at upcoming long fruit as I was looking for W5. I was so focused on short that I also missed the classic breakout long at 15:35. ~x(

I really have to learn to STAY IN THE NOW…

[immy]

The Question is Why did you miss the breakout?

Was it fear of losing? Was it fear of giving away profit? What belief was working at distorting information? why were you not able to perceive the "markets perspective"? answers these questions will be hugely important in terms of success and long term profitability!

[Skywalker]

Thanks Immy for your comment. You're absolutely right! Lot to learn...

[Skywalker]

Today in the morning session I was looking for valuable fruits and in the afternoon I took breakouts in the absence of fruit entries due to sideways movements. None of these trades were fruitful (RENTS) but i think all four trades were correct (only at the second trade the angulation was not perfect). In retrospect SAR would have been the better choice but my mind was not able to imagine further upmove after reaching one high after the other. Summary: Mental blockade still persist... #-o

[immy]

t my mind was not able to imagine further upmove after reaching one high after the other.

Summary: Mental blockade still persist... #-o

Guys, read this... and ponder... this is the power. We all know the technical analysis. We know it because there is nothing to it. 3 indicators and alert and 1 rule. but how to trade consistently is a function of discipline, its a mind set. If your goal as a trader is making money and you're not making it then consider this. Make "Consistency" as your goal. And consistency is the name given to the process of achieving a State of Mind. The state of mind where no information is blocked, massaged, distorted or ignored. The state of Power, The state of Flow, The state of "knowing without know how you know you just know", the state of connection to the "ether" connection to the "divine" state of being one with the "market/universe". the state of being one with the "higher self". The state of being IN THE ZONE. Which ever you call it, its all the same thing. It happens only when you are able to "observe" yourself like Raulf did in this post above. \m/ ^:)^ The only hard work we need to do in trading is "knowing yourself". knowing the market is useless if you don't yet know who you are.

[Skywalker]

Even though it's not within my main focus, I want to share this FX trade as it a) brightened up my mood after yesterday's dax disaster and more importantly b) I might not have noticed this opportunity without the Skype Group. Thank you all (wd)