Darren's Journal

[Darren]

One trade this morning.

Price broke out of the opening range and I should have entered at point 1, but I hesitated as I thought the entry candle was too big in relation to the rest. In hindsight, it looked like a good setup.

Point 2 would have been a good place to enter but I didn't get a signal. I probably should have taken it anyway.

I entered at Point 3 but the pullback was a bit deep. It was still above the 10 and 20 ema so I gave it a shot. BE trade.

Screenshot 2021-10-22 110333.png

 
 
 

[immy]

I haven't posted in my journal for a very long long time, but I thought I would resurrect it so that I have a history of where I am going right and also where I go wrong!

I am working full time from home and often do the school runs etc, so I am not always at the charts at the right time. But the markets can move at any time so hopefully, this isn't a problem. 

I have had problems recently of not taking trades because they weren't 'perfect', but a lot of the time they turn out to be easy winners. This is part of the reason for this journal. 

Basic Trading Plan:

• I am trading the Hunt 2.0 on the Dax in the mornings and Nasdaq and Dow indices in the afternoon. I may reduce this to just the Nasdaq in the afternoon as the Dow can be quite volatile at times!
• I am looking at the M1 timeframe primarily, but I am aware of M5 and levels of support/resistance on H1.
• If there is a range, I will wait for the range to break and then look for a pullback.
• I will wait for 2 or three momentum candles, or an obvious trend before considering entering a trade.
• THERE HAS TO BE MOMENTUM IN THE MARKET.
• I will take the first 2 pullbacks unless I have made a profit already and I will then keep taking pullbacks until there is a loss.
• I will risk 1% per trade and move SL to BE at 1:1 or at an obvious level.
• I will take profit at 2R unless the move is obviously strong, in which case I will move my SL to 2R and trail candles, with a TP at an obvious price level.
• I will use the Banana template as it is easy to see setups as it is a clean and simple template.
• If I have three losers in a session I will check that they are correct setups and wait until the next session to trade again.

I will amend my trading plan if I feel the need to!
 

 

Hey Darren

Congratulations on restarting your journal. you know this method has great potential and is extremely simple (If I may say so). 

You know that journaling will allow you to review your performance during the week and month. Without this, we are all lost. 

I keep my public journal in the form of videos and chat I share with you guys and keep a very detailed excel sheet that I have been keeping from 2010 onwards. 

IT really helps. Simplicity in everything helps. Be it keeping the journal, the datasheet, or trading itself. 

btw: one comment on your trader plan, there is a slight typo where you say SL to 2R. Moreover, 3 losers in a session, might be too many. Emma and I , we stop if we have 2 losers. that's 2% down and it hurts a lot. 

All the best 

cheers 

[Darren]

Thanks Immy.

You are right, three losers would hurt so I am changing it to two.

[Darren]

This afternoon so far. One rent but it was a valid trade. 
 

[Darren]

The day ended at 1R down, but it would have been profitable had this trade not mysteriously been closed as soon as it opened!

I was called into a meeting so missed a couple of other good trades as well.

Roll on next week...

2021-10-22_17-18-34.png

EDIT: I found the reason why it was closed. I had an EA running on another PC that I had forgotten about! Oh well. 
 
 
 
 
 
 
 
 

[Darren]

Took a seed on the Nasdaq, didn't work out though. 

2021-10-29_14-53-49.png

 
 

[immy]

Took a seed on the Nasdaq, didn't work out though. 2021-10-29_14-53-49.png
 
 

 

The immediate signal after your trade is INVALID. No New strong New High and new impulse move.