only 2 trades on friday, both monarchs. Im satisfied with how I traded and considering the choppy price action im really proud of only taking 2 good monarch trades. Now I just need to trade like this every day.
David's journal
-
azadar
- AIMSter
- Posts: 245
- Joined: 01 Dec 2012, 01:53
- 12
Re: David's journal
You do not have the required permissions to view the files attached to this post.
-
azadar
- AIMSter
- Posts: 245
- Joined: 01 Dec 2012, 01:53
- 12
Re: David's journal
Funny how I said I wanted to trade like friday every day yet I end up taking lower quality signals this week... Ill write it down in my trading plan to make sure I stick to monarchs
-
azadar
- AIMSter
- Posts: 245
- Joined: 01 Dec 2012, 01:53
- 12
Re: David's journal
monday: I missed most of the action that happened earlier. Still managed a decent trade but exit too late.
You do not have the required permissions to view the files attached to this post.
-
azadar
- AIMSter
- Posts: 245
- Joined: 01 Dec 2012, 01:53
- 12
Re: David's journal
Huge downtrend today. Unfortunately I missed almost all of it...
You do not have the required permissions to view the files attached to this post.
-
azadar
- AIMSter
- Posts: 245
- Joined: 01 Dec 2012, 01:53
- 12
Re: David's journal
I had fun today with this crazy volatility. Overall im satisfied with my trading even though I missed some HUGE trades. After last weeks many missed opportunities, it feels good to finally catch some good winners.
Over the weekend, I modified my trading plan to include BDC at top of pullback in direction of trend but ONLY if the trend is strong. Paid off nicely today as I was able to catch quite a few of those.
Over the weekend, I modified my trading plan to include BDC at top of pullback in direction of trend but ONLY if the trend is strong. Paid off nicely today as I was able to catch quite a few of those.
You do not have the required permissions to view the files attached to this post.
-
azadar
- AIMSter
- Posts: 245
- Joined: 01 Dec 2012, 01:53
- 12
Re: David's journal
uneventful NEO but had some excitement with us30 in US afternoon session. Big 300 pts down wave followed by a 350 pts up wave. Unfortunately I wasnt there for most of the move as I wanted to get some stuff done before picking up my son at daycare.
You do not have the required permissions to view the files attached to this post.
-
immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 14
Re: David's journal
Consider your rules, as Rules that govern your instinct!
ps: there can be a rule to say I can break this rule because of this and that and I take full responsibility. A Rule for when to bend or break a rule = Rules have been followed. But if you allow yourself to break any rule any time without a "structure" you're calling that inner demon to take charge in a cunning and discrete way. Humans have this innate need for Rules as well as this urge to break rules. We must root it out or keep an eye on it. The best way to do that is to follow your plan and rules and roll.
ps: there can be a rule to say I can break this rule because of this and that and I take full responsibility. A Rule for when to bend or break a rule = Rules have been followed. But if you allow yourself to break any rule any time without a "structure" you're calling that inner demon to take charge in a cunning and discrete way. Humans have this innate need for Rules as well as this urge to break rules. We must root it out or keep an eye on it. The best way to do that is to follow your plan and rules and roll.
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.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
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.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
azadar
- AIMSter
- Posts: 245
- Joined: 01 Dec 2012, 01:53
- 12
Re: David's journal
Makes sense thanks Immy. I will modify my trading plan accordingly to define exactly how I can bend the rules a little bit and under what circumstances.
Right now my trading plan states: on a strong trendy day trade agressively. Take BDC candles at top of pullbacks in direction of trend. Take Seed, Cherry as long as theres a new peak (not just monarch pattern).
But I think this is wrong as a market can change at any instant. Just like yesterday on us30. Volatility kicked in and a 300 pts wave followed by a 350 pts wave in the opposite direction. I saw the increase in volatility and knew it was the right time to trade aggressively (no matter what happened earlier in the day).
Trading plan should state: When there is high volatility with a clear trend, take every signal on pullbacks (Seeds, Cherries, BDCs).
Right now my trading plan states: on a strong trendy day trade agressively. Take BDC candles at top of pullbacks in direction of trend. Take Seed, Cherry as long as theres a new peak (not just monarch pattern).
But I think this is wrong as a market can change at any instant. Just like yesterday on us30. Volatility kicked in and a 300 pts wave followed by a 350 pts wave in the opposite direction. I saw the increase in volatility and knew it was the right time to trade aggressively (no matter what happened earlier in the day).
Trading plan should state: When there is high volatility with a clear trend, take every signal on pullbacks (Seeds, Cherries, BDCs).
-
azadar
- AIMSter
- Posts: 245
- Joined: 01 Dec 2012, 01:53
- 12
Re: David's journal
No trades today. Markets stayed range bound all morning. Really proud of myself for not taking a bad trade out of boredom.
You do not have the required permissions to view the files attached to this post.
-
azadar
- AIMSter
- Posts: 245
- Joined: 01 Dec 2012, 01:53
- 12
Re: David's journal
I didnt trade monday. As for today, 3 rents before I stopped due to range bound price. Last trade was a mistake, I should have stopped after the first 2 failed trades.
You do not have the required permissions to view the files attached to this post.