Zsigmond's Journal of T20's

[zsizsa]

1. Trade Number: Batch 1 Trade 6
2. Date/Time: 2021.02.10
3. Symbol/TF: DAX30 M1
4. Signal Type / Direction : SHORT

5. Questions Before Trade is Taken:

a) How do I feel before setting the order?
Today I felt very calm. I tried to be patient and not to trade what I shouldn't. Yesterday Immy gave me a BIG FAT DS0 and I totally agree with him.
The hardest part for me at  the moment is sitting on my hands and waiting and filtering the Setup 1.
Because of this, reading the chatroom is a hard task for me in stage 1. Don't get me wrong, it helps a lot in the learning process. Day by day I learn something new.
But it requires huge discipline not to trade anything else but Setup 1's. 

b) Intuitive Signal?
I thought it is a good setup, but I didn't pay enough attention for the purple line on M1. And that was a big mistake, because that was the point what made clear that I did not trade a setup 1 rather a setup 0. 

c) Is this technically The Setup 1?
After Immy made it clear in the chatroom I know that it wasn't a setup 1 rather a setup 0 and I closed the trade in BE.

1. Purple line on the M1 chart was inside the box when gator was sleeping.
2. on the 5xHTF the 5 candle pullback was strong to the upside. Because of this on M1 the wave 4 did not create a sideways structure.

6. Post Trade Questions: 

a) How Do I feel after closing the trade (or end of the session for Day Traders)?
I know I did it wrong. And I accept it. And I know that I have to pay more attention for these factors. But it feels good that I always learn something new what brings me closer to my goals.

b) Have I done well and why?
Nope. Need to filter more accurately.

c) Have done badly and Why?
It needs to analyse the higher TF more when it is in a pullback phase. 

7. DS For this Trade: 0
8. DS Running Total: 2/6

DAX_2021_02_10_S1_SHORT.JPG

 
 
 

[zsizsa]

1. Trade Number: Batch 1 Trade 7
2. Date/Time: 2021.02.11
3. Symbol/TF: DAX30 M1
4. Signal Type / Direction : LONG

5. Questions Before Trade is Taken:
a) How do I feel before setting the order?
I tried to stay calm and very disciplined. I decided to overcome of all my doubts during the trade. 80 minutes after the London Open a Setup 1 formed and I took it.

b) Intuitive Signal?
I think the Steup 1 was ok. On the M5 and M1 everything confirmed it. But during the trade I had ups and downs emotionally.

c) Is this technically The Setup 1?
Yes. On the M5 PA had a breakout to the upside from the premarket range. After that I waited for a pullback. A 5 candle pullback arrived which wasn't too deep. Because of this the structure of wave 4 on the M1 looked very nice and clear. AMIS box was tight, and gator was sleeping. Purple was outside and below the box.
AO after a wave 3 up returned slightly below the ZeroLine. After that, a green dot appeared and I took the trade, stop loss went below the box, target was 1.5R away.

6. Post Trade Questions: 
a) How Do I feel after closing the trade (or end of the session for Day Traders)?
I feel good. And it was a fantastic lesson for me controlling my emotions. And it was a huge help for me how the members encouraged me in the chatroom (Thank You Emma!!)
b) Have I done well and why?
I think technically it was fine, so DISCIPLINE DISCIPLINE DISCIPLINE DISCIPLINE DISCIPLINE!!!! This is what I have to work on.
c) Have done badly and Why?
I doubted at some point, when I was in the trade. I have to work on it.
d) What Could I have done differently? 
I guess nothing

7. DS For this Trade: 1
8. DS Running Total: 3/7

DAX_LONG_S1_2021_02_11.JPG

 
 
 

[zsizsa]

1. Trade Number: Batch 1 Trade 8
2. Date/Time: 2021.02.12
3. Symbol/TF: DAX30 M1
4. Signal Type / Direction : SHORT

5. Questions Before Trade is Taken:
a) How do I feel before setting the order?I feel ok and I was excited for trading again.
 b) Intuitive Signal? Yes, it was. And a big mistake. I wasn’t patient enough. After yesterday’s trading I wanted to trade again. And I kept forcing it.

c) Is this technically The Setup 1?
 It looked so. 5 candle pullback on M5. But I didn’t paid too much attention for the AO. It was the 3’d pullback on the M5.

6. Post Trade Questions: 
a) How Do I feel after closing the trade (or end of the session for Day Traders)? I accept the fact that I made a lot of mistakes in a few seconds. Wasn’t patient. Had FOMO etc.
 b) Have I done well and why? Nope…
  c) Have done badly and Why? Almost everything.
 

7. DS For this Trade: 0
8. DS Running Total: 3/8

DAX_SHORT_S1_2021_02_12.JPG

 
 
 
 

[zsizsa]

Today I didn't took any trades on M1. Btw. a Setup 0 has formed on the M1 TimeFrame. But in stage 1 I knew I have to be disciplined and patient. So I did not took it.
 
 

[immy]

Today I didn't took any trades on M1. Btw. a Setup 0 has formed on the M1 TimeFrame. But in stage 1 I knew I have to be disciplined and patient. So I did not took it.
 
 

 

That's a very good thing. The good point about today is that you watched the market yet, did not trade it because it was NOT your setup. That's a good sign. Discipline and patience wins the game. The second good thing you've done is that you have not ignored today's post. You have posted something for the day. When its time to review your Batch you will go over this day and it will remind you. 

This is a great habit. I recommend everyone, (Day Traders) to create a  post every day even ifi they don't take a trade.  WRite the story of the day in a quick small paragraph and attach a picture 

cheers 
 

[zsizsa]

I didn't trade today either. I was in front the screen from London open till 12:00 but there wasn’t any setup 1-s.

In the morning the market was range bounding. It was dancing within the H1 box levels and M5, overnight levels. After LO (London Open) it was choppy but didn’t found direction. The choppiness was weak. 30 pips down, 25 pips up etc.There wasn’t volatility in the market. Because of this we did not see any breakout with strong momentum in any direction. Price action did not cleared the levels to the left.

On the chart below I marked with yellow the levels. On the left You can see on the M5 how it stayed in the range (white box). On the right I switched to H1 just for showing the other levels that proved to be strong levels (3 long wicked candles in the near of 14074). These were the levels that I was watching. The yellow vertical line marks the time when I gave it up for today.

Maybe tomorrow will be a better day for trading.
 

DAX_2021_02_16_no trade.JPG

 
 
 

[zsizsa]

Finally today we had a great London opening with momentum to the downside. Levels were cleared out to the left. But unfortunately it didn’t gave me any entry signal on the M1. After the price dropped 100 points from London open the wave 4 correction was too strong to the upside instead of a flat sideways movement, or a moderate 3-5 candle pull back on the M5.

It reached then passed trough the purple line. I’m not sure how accurate my wave count is but the wave 4 overlapped the peak of the first wave as well. On the M5 the pull back is too big too. So all of these factors kept me on the sidelines and watched only.

DAX_2021_02_17_no trade_filtered out.JPG

Of course a few minutes later it turned down, but anyway… Based on the above mentioned factors in stage one I had to filter it out.

 

DAX_2021_02_17_no trade_filtered out_part2.JPG

 
 
 
 
 
 
 

[zsizsa]

I know that this is part of my learning process and it is good that I filter out the incorrect signals, but it starts to get confusing that it has been a week or so that there is no Setup 1 which I can take.Today in the morning the market was ranging. Did not cleared the levels to the left. There was no directional move with momentum. That is why I refused trading.In the afternoon after NEO it finally made a good movement. On the M5 chart it made a 5 candle move down. After that a 3 candle pull back occurred but unfortunately the pull back was too big.On M1 the pull back reached the purple line and it sticked to it for a relatively longer period. So from that point I considered it as a Setup 0. In stage 1 I have to filter it out.

DAX_S0_2021_02_18_filtered out part 1.JPG

 And later the Setup 0 has become invalid.

 

DAX_S0_2021_02_18_filtered out part 2.JPG

 
 
 
 
 

[immy]

IT happens... even though I trade pullbacks... i only trade 3 days this week. IT happens... there will be days when you will get too many signals...
Patience is the KEY! that is part of training.

[zsizsa]

Today finally a Setup 1 occured on the M1 chart. It formed after strong reversal. The market has dropped from London Open 100 points. After that on the M5 TF 5-6 green candles followed it with a nice pull back. However in stage one I had to filter it out because the higher timeframe did not support the M1.

DAX_Setup1_long_filtered out_2021_02_22.JPG