David's journal

[immy]

On friday the 22nd: what started out as a day of small rents due to lack of activity on dax ended up with self sabotage on eurusd. After being disapointed with dax not moving for 3 days straight I looked at eurusd and saw a clear wave 3 + wave 4 and wave 5 was possibly starting. I quickly opened a trade with too big a lot size because I was overconfident in a hurry and undisciplined. The breakout quickly reversed and I took a rent. I was angry at myself for being undisciplined so I kept taking trades in a flat market and piled on rents. Thats some really stupid stuff.

Here is the screenshot for the dax trades (-17 pts, DS 4/4). I wont be posting the eurusd trades (-68.5 pips stupidly trying to trade a tight range while being frustrated and undisciplined) because im too ashamed to put them up here.

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You've done a great job putting these "shameful" trades (which they are not) here. This will help you be "honest" to yourself and continue to grow as a trader. The biggest probelm of trading is that we have too much freedom and since we have been kept captive for such a long time we don't know how to handle freedom. So its best to make yourself "accountable" in the eyes of your "peers" the aimsters. Its a great technique!

[azadar]

Good advice as always Immy, Thanks

On tuesday the 26th: I closed the day at -30 pts with DS 8/11. My only mistakes were to keep trying to go long while there was a clear strong downtrend. I need to wait for signs of trend ending before I can even think about counter trend trades. Divergence on AO would be a good sign of possible end to trend. Without the countertrend stupidity, I would be sitting at +36 pts instead of -30. thats a huge difference!

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[azadar]

On the 27th: +209 pts, DS 3/4. New daily record for me

I also installed and started trading with FTM 1.0.0. (starting from second screenshot). I really love how fast and easy it is to use. Thanks Steve!

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[immy]

David

I'm please to see your screenshot. This trade was nicely called in the skype and nearly all of us made over 150 pips from this. I'd say the room made in access of 700 pips within those few minutes. Loved it made... thanks.

keep going keep going

[azadar]

Ok im finally up to date in my journal. Today was another good day with a total of +110 pts, DS 4/6.

I noticed that after a losing trade I lose my concentration for a few minutes and miss opportunities because of that. This is especially true when I have a trade going with add-ons and price suddenly reverses. Those are the ones that affect me the most mentally. It often happens at CIPS (NEO usually) and thats when I need to be extremely focused and ready for anything. Market often goes one way then turns around for the big move (100+ pts) at NEO and thats where the big points are made. No matter how much I think price will go one way, no matter how many positions I have opened in one direction, I must be mentally open to the possibility that price can reverse at any moment.

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[azadar]

Friday NEO gave good classic setups but pullbacks made it hard to lock in profits. Doesnt really matter, I traded well and I know that most of the time these setups would have produced big profits. Closed the day at -7 pts, DS 4/4.

After the first 3 trades I was starting to get irritated because the setups didnt produce the results I was hoping for (yes, I know I need to evaluate my trades based on discipline only and that the result of specific trades dont matter). My broker was having a bad day as far as smooth price feed goes so it made things worse for me. I called it a day since I was not in a good state of mind to trade. The following hour presented some good opportunities but unfortunately I was no longer trading. I will work on letting go of past trades and focus on the now in order to extend my trading hours a little bit. I usually trade for an hour and 15 minutes. I would like to do 2 hours a day as long as my concentration is there and I am in a good state of mind.

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[immy]

I called it a day since I was not in a good state of mind to trade.

The above statement might look like just an ordinary thought or act. But it is not.

This is the 80% of trading .This is David's Mental Analysis. He was on top of things. He was "aware" "consciously aware" of the state of his mind and he stopped based on that analysis. 99% of traders don't have any idea this stuff exists!

well done matey... Keep going ... keep going ...

[azadar]

I am currently reading Money: Master The Game by Tony Robbins and while this is a great book for taking control of your long term investments I also found some great advice that I can apply to my trading and it comes from Warren Buffet.
Rule No.1: Never lose money.
Rule No.2: Never forget rule No.1.

In trading, never lose money means never take a trade if I have no edge. My edge is AIMS and I know that as long as I follow the rules and stay disciplined, I am never going to lose money in the long run.

[immy]

Its a great book, a good read, and its written by a great writer and successful person. Tony Robbins is the best!

[azadar]

Tough day for me mentally (DS 7/13) even though I managed to make +55 pts. I felt fear and anger at a certain point during my trading. I took a break and came back more relaxed and focused to close the day on a good note. Im happy about being disciplined enough to take a break when I felt I was not in a good state of mind to trade. I was paying attention to how I felt and it paid off in 2 ways:
1- I didnt make stupid trades and sabotage my account by trading while being angry.
2- After the break I was focused and relaxed and caught a nice +74 pts move.

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Took a break and came back for these 3 trades:

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