Dave from Sydney's Journal [Awarded Title: the Box-Trader]

[immy]

don't be sorry to me mate...


If you can't be disciplined... you know what to do!!!...

or maybe you don't. This is a great realisation. How we cannot STOP ourselves from trading the setups that are NOT in our plan. But recording them in your journal with honesty is the main thing. So I commend you on that buddy... (most would hide it... but they cannot hide it from themselves)...

If you're trading The HUNT signals. then you should NOT trade breakouts on current time frame. As you know and as you mentioned in your comment, may be you need to add it to your trading plan. Maybe you should but then would you stick to THAT? Do you have to change the rules to fit you or change you?

cheers

[bbvideo=1280,720]https://vimeo.com/191030339[/bbvideo]

[Dave]

Thanks Immy, great video

My (recently updated to include The Hunt) trading plan says the following....

I have two mechanisms of entry:
M1 seeds and cherries
M1 S1/S2 (with two conditions, pullback or breakout)

But I agree that for the purposes of The Hunt T20 this was a DS0.

I do go into detail about what constitutes a S1/S2 entry but reading through it again it doesn't quite hit the setup description perfectly. These are trades I definitely want to allow myself to take. I'll post a refined description when it's done.

[Dave]

Friday's trades.

Screen Shot 2016-11-13 at 9.44.01 PM.png

More than anything these two entries indicate to me that I need to further define my exact Hunt entry criteria. This is a new exercise for me and I'm slowly finding out that my trading plan isn't yet detailed enough to suit these entries, and so I'm improving it!

First trade was a seed, but in hindsight wasn't in the correct position. If being critical I could say that price had pulled back just as steeply as it had impulsed, and so even though we were trading away from the range and from the bottom of the correction it wasn't quite perfect. So trading plan updated to say that a seed must immediately follow 1) the pullback candle forming the low of the correction, or 2) an impulsive candle breaking out of the correction.

Second trade made me question at what point I invalidate a signal. For me this candle pattern is very nice, break of range, pullback to alligator, cherry followed by seed, but then a spike that broke the high before triggering the entry. I did cancel and replace the order with adjusted position size to suit the new stop loss position, and I stand by the entry, but I need to define in my trading plan, "when is an entry signal invalidated?". The adjusted stop loss meant a 15 pip risk, so there's my indication that risk >10 pips so therefore signal invalidated.

But.... both entries as per my trading plan and managed appropriately so I record a DS of 2/2 (although they showed that my plan needs more detail!)

So for the week:
Monday 7/11: +2R, DS 0/1
Tuesday & Wednesday: No trading
Thursday 10/11: -1R & +4R, DS 0/2 (after discussion with Immy B-) )
Friday 11/11: -1R & -1R, DS 2/2

Week: +3R, DS 2/5 (can we please get the pile of shit emoji from iPhone?!)

See you next week

[Dave]

No trades to start the week. Liked the look of the 10:13 candle (no eWave change) and the 10:23 candle (>10pips) but then nothing else. Waiting for a clearly moving market. Working on my DS

[acceleratum]

11:04 was your hunt signal today, probably outside of your trading hours, anyway keep up! your doing great and that discipline will come in handy in the future!

Regarding friday trades, I look at that screen and its sideways.. you cant trade m1 sideways market, unless your want to lose consistently. MAke sure that your first rule is: Is the market moving? if not dont even bother to look till it starts to move. For example today started moving at 10:55 and theres the hunt signal at 11:04, you want that kind of clear movement, coming out of the channel.

[Dave]

Thanks for your comments. Our broker times/chart times are a couple hours different. The short Hunt signal you refer to is 13:04 for me (so yep outside my hours). Which makes my above referred to candles 8:13 and 8:23.
But yep, moving, open gator, outside range.
Cheers

[Dave]

Today's efforts, both BE. T2 missed the 2:1 by a bees dick, just fill slippage and spread that cost it, no worries :silent:
Price then returned to its range and my time was up. Nice entry positions outside the range though.

Screen Shot 2016-11-15 at 8.36.19 PM.png

[Dave]

And that brings us to the end of another week, Thursday and Friday's trades and a weekly summary. Enjoy the weekend everyone

(you'll see a small change in that I'm trying to let winners run. I have a strong belief that a fixed TP is in effect restricting a trades opportunity to grow, so my management of a winning trade is more subjective. Both of these trailing AIMS level exits were when trades were breaking significant multi-day lows so I wanted to give them a chance. They didn't bolt off this time, but the next >50 pip, >5% trade is only around the corner. I just need to work on my discipline in closing with profit when they break a level and don't go, as I did in the 2nd trade on Friday)

Screen Shot 2016-11-17 at 9.26.08 PM.png

Screen Shot 2016-11-18 at 8.21.42 PM.png

So for the week,
Monday 14/11: Watched but no entries
Tuesday 15/11: BE & BE, DS 2/2
Wednesday 16/11: No trading due to work
Thursday 17/11: -1R & +0.8R, DS 2/2
Friday 18/11: +1.7R & +2.5R, DS 2/2 (survived a pullback in the first trade by a fraction, but SL held)

Week: +4R, DS 6/6

Edit T20(1): 13/16

[Dave]

All over very quickly this session after missing the last couple of days due to work.

Here's an excerpt from my trading plan which I've recently updated to again include my stepping/first pullback setup. I feel that this compliments The Hunt signals perfectly, with one entry mechanism focussed on early breaks and an entry into the infant wave, and the other on later continuations into an established wave. Today's entry is a great example of this "first pullback" setup, something I've described to both Immy and Steve a number of times! Slightly less than 3:1 R:R and DS 1 :-B

For My Setup I trade the first pullback after eWave has crossed the zero line. I am gaining entry in the infant stage of the wave. For seed and cherry entries I trade pullbacks of the mature wave, with continuing momentum signalled by a new eWave peak. I trade early in the wave. I make my entries before price has gone too far. My stop loss is close to the freshly opening and freshly turning alligator. I don't trade the retracement of a clear impulse wave.

T20(1): 14/17

Screen Shot 2016-11-23 at 7.10.07 PM.png

[Darren]

Nice addition to the strategy Dave! :-bd