Tom's T20 Journal

[immy]

BATCH 1 TRADE 3
BE
DS1

2. Date/Time: 1600hrs - 1700hrs
3. Symbol/TF: USDCHF
4. Signal Type / Direction : m1 short

5. Questions Before Trade is Taken:

a) How do I feel before setting the order?

Calm

b) What is my intuition about this signal or setup? 

I feel this is good for a short trade. H1 had broken out of a period of tight consolidation to the downside. There had just been an M15 short signal 2 bar pullback which would have been in trade. M5 had just had a 5 bar pullback to the 20ema with a nice bearish M5 engulfing bar. M1 produced a little pullback with enough room for 2r down to the recent hourly low; and 5R so plenty of room down to the daily lows. Assumed w3 peak.

c) Is this technically The Setup 1?

Yes M5 pull back and M1 setup 1 is forming for assumed W5.

6. Question After The Trade has been closed: 

a) How Do I feel after closing the trade?

I believe I took a correct hunt entry; I moved my SL to BE at 1R albeit the tiny spread didn’t get through It touched 1r so that was it for me to move it. I then didn’t bother looking at the trade for about 15mins. Let it do it’s thing. It was either going to be a BE or a 2r. That is the plan. It would have been easy when price started ranging sideways to exit the trade with emotion, but I’m not here for that.

b) Have I done well and why?

Looking from H1 down to find an entry not just getting sucked into M1. But trading M1 with rationale.
Sticking to my exit plan and not letting greed, fear, or any other emotions get involved. I minimised the chart down and did something else once I was at BE.

c) Have done badly and Why?

I don’t think I have done bad.

d) What Could I have done differently?

I traded my plan. Breakout, pullback and correct TM.  

7. DS For this Trade: DS1
8. DS Running Total: DS2/3 66%TRADED 3 BATCH 1 H1.png
 TRADE 3 BATCH 1 M15.png
 TRADE 3 BATCH 1 M5.png
 TRADE 3 BATCH 1.png
 

 

You must not trade more than 1 or max 2 markets on the 1 minute time frame. If you trade the  1 min chart, its best to trade indices, but if you don't have indices then trade only the 5 min time frame using the h1/m5 method. 

[tombacon89]

TRADE 4
BATCH 1


2. Date/Time: LO
3. Symbol/TF: EU h1 m5
4. Signal Type / Direction : long

5. Questions Before Trade is Taken:

a) How do I feel before setting the order?

Good. Happy I had identified the range breakout and was waiting for the re-test.

b) What is my intuition about this signal or setup? 

My thoughts were this had potential to go long and test yesterdays high at least.

I like the retest signal candle.

We had a strong move up from the range low, break and re-test so I was happy to take this.

Immy mentioned in the discord group the double top. Did this make me think maybe to pass on this signal? Yes I considered it. But at this stage I have to go with what I feel in order to learn, good or bad. I have to make mistakes.

c) Is this technically The Setup 1?

H1 to m5 yes but not clean.

6. Question After The Trade has been closed: 

a) How Do I feel after closing the trade ?

I was pleased to get to BE But admit it wasn’t a pretty sight watching M5 mess about just below the 2r TP. I wasn’t tempted to manually exit the trade. I have to stick to the TM plan.

b) Have I done well and why?

Spotted the breakout and re-test. Happy with marking my levels of S/R. Identified an exit prior to entry based on chart information.

I Did not play with the trade once I was at BE, it was not nice to see TP2 get so close (7points) and the feeling of giving everything back sucked, but I have to stick to the exit plan.

c) Have done badly and Why?

I believe I stuck to my trading plan. At the time...... having watched a few of the educational videos back; I did not apply the top 1/4 close rule for the H1 candle.... therefore can't give myself a ds for this.

d) What Could I have done differently? 

Filtered the trade based on the price action before the retrace, Not the best trend candle on H1, something I need to be more picky with and learn more about.

I could have exited manually when price was so close to TP2 but I did not.

7. DS For this Trade: 1
8. DS Running Total: revised. Now 1/4. 25%...

TRADE 4 BATCH 1 H1.png

 

TRADE 4 BATCH 1.png

 

[immy]

TRADE 4
BATCH 1


2. Date/Time: LO
3. Symbol/TF: EU h1 m5
4. Signal Type / Direction : long

5. Questions Before Trade is Taken:

a) How do I feel before setting the order?

Good. Happy I had identified the range breakout and was waiting for the re-test.

b) What is my intuition about this signal or setup? 

My thoughts were this had potential to go long and test yesterdays high at least.

I like the retest signal candle.

We had a strong move up from the range low, break and re-test so I was happy to take this.

Immy mentioned in the discord group the double top. Did this make me think maybe to pass on this signal? Yes I considered it. But at this stage I have to go with what I feel in order to learn, good or bad. I have to make mistakes.

c) Is this technically The Setup 1?

H1 to m5 yes but not clean.

6. Question After The Trade has been closed: 

a) How Do I feel after closing the trade ?

I was pleased to get to BE But admit it wasn’t a pretty sight watching M5 mess about just below the 2r TP. I wasn’t tempted to manually exit the trade. I have to stick to the TM plan.

b) Have I done well and why?

Spotted the breakout and re-test. Happy with marking my levels of S/R. Identified an exit prior to entry based on chart information.

I Did not play with the trade once I was at BE, it was not nice to see TP2 get so close (7points) and the feeling of giving everything back sucked, but I have to stick to the exit plan.

c) Have done badly and Why?

I believe I stuck to my trading plan. At the time...... having watched a few of the educational videos back; I did not apply the top 1/4 close rule for the H1 candle.... therefore can't give myself a ds for this.

d) What Could I have done differently? 

Filtered the trade based on the price action before the retrace, Not the best trend candle on H1, something I need to be more picky with and learn more about.

I could have exited manually when price was so close to TP2 but I did not.

7. DS For this Trade: 1
8. DS Running Total: revised. Now 1/4. 25%...TRADE 4 BATCH 1 H1.png
 TRADE 4 BATCH 1.png
 

 

Hi 

Why are you asking whether its a Setup 1? You are NOT trading Setup 1. You are trading The Banana Setup. The lobot strategy makes use of the Banan pattern and signal. this is what you're doing. so the question should simply be whether you've followed your rules 

[immy]

TRADE 4
BATCH 1


2. Date/Time: LO
3. Symbol/TF: EU h1 m5
4. Signal Type / Direction : long

5. Questions Before Trade is Taken:

a) How do I feel before setting the order?

Good. Happy I had identified the range breakout and was waiting for the re-test.

b) What is my intuition about this signal or setup? 

My thoughts were this had potential to go long and test yesterdays high at least.

I like the retest signal candle.

We had a strong move up from the range low, break and re-test so I was happy to take this.

Immy mentioned in the discord group the double top. Did this make me think maybe to pass on this signal? Yes I considered it. But at this stage I have to go with what I feel in order to learn, good or bad. I have to make mistakes.

c) Is this technically The Setup 1?

H1 to m5 yes but not clean.

6. Question After The Trade has been closed: 

a) How Do I feel after closing the trade ?

I was pleased to get to BE But admit it wasn’t a pretty sight watching M5 mess about just below the 2r TP. I wasn’t tempted to manually exit the trade. I have to stick to the TM plan.

b) Have I done well and why?

Spotted the breakout and re-test. Happy with marking my levels of S/R. Identified an exit prior to entry based on chart information.

I Did not play with the trade once I was at BE, it was not nice to see TP2 get so close (7points) and the feeling of giving everything back sucked, but I have to stick to the exit plan.

c) Have done badly and Why?

I believe I stuck to my trading plan. At the time...... having watched a few of the educational videos back; I did not apply the top 1/4 close rule for the H1 candle.... therefore can't give myself a ds for this.

d) What Could I have done differently? 

Filtered the trade based on the price action before the retrace, Not the best trend candle on H1, something I need to be more picky with and learn more about.

I could have exited manually when price was so close to TP2 but I did not.

7. DS For this Trade: 1
8. DS Running Total: revised. Now 1/4. 25%...TRADE 4 BATCH 1 H1.png
 TRADE 4 BATCH 1.png
 

 

hi again

Second comment 

The TREND Candle should close outside of the trading range. This was still inside the range.

hope this makes sense. 
 

[tombacon89]

Cheers Immy,

TC makes sense now I have seen good and bad examples.
I'd copied and pasted an old template off here.

I am not actively trading now until probably the 2nd week in Jan due to xmas and work commitments.

What I AM going to do in the meantime is:

- new simple template that is correct for the strategy.
- keep going through the learning material again and again in bitesize sessions.
- get everything setup and happy on the charts, layouts, atm, practice on the atm ready for January.
- write out my own trade plan and expectations for the next 3 months. Jan - March. Keeping it SIMPLE.

[tombacon89]

ATM sorted happy.

LOBOT 16.1 - 16.6 re-watched. Happy.

One thing I really liked from the video 16.3 .... RANGE... BREAKOUT... PULLBACK...

Piece by piece this will come together. =)
 

[tombacon89]

I have watched all the LOBOT videos again now. I am feeling like my understanding is getting there when I am watching the videos. But I know it is different in forward testing. I am a practical learner, so I know I need to take trades and have screen time for a while before it fully clicks. I am ok with this. 

Today I wanted to look at NEO. I considered US30 to be ranging too much so didn't bother sitting through that open. I did look at DAX just prior to the NEO. 


HOURLY - range identified. MA's crossing to the downside after a strong up move and period of consolidation. Recent short downtrend on H1.

BATCH 1 TRADE 5 HOURLY.png

M5 - 13:05-14:05 tested the same level 3 times, with a failed break out at 14:20. I saw this as a key recent S/R level. Waited for a proper breakout short. 14:30 gave us that with a bearish trend candle. 2 candle pullback with a rejection of the S/R

Went short on M5 chart. BATCH 1 TRADE 5. BE. DS1

BATCH 1 TRADE 5 M5.png

M1 -  BATCH 1 TRADE 6 - Retest of recent resistance after the breakout. The trigger candle of the M5 trade was the Trend Candle for this trade on M1. Short. DS1. 2R. 
 

BATCH 1 TRADE 7 m1.png

M1 - BATCH 1 TRADE 7 - saw M5 pullback, looked for entry short on M1 after rejection of the most recent resistance level. DS1, 2R would have hit but for some reason the trade was entered and closed at the exact same time. (atm practice required I think.)

 

BACTH 1 TRADE 8.png

Overall 3 trades. 
BE,
2R
Would have been 2R without the technical BE issue. My thought process was there anyway. 

DS3.

Running DS - 4/7. 

 
 
 
 
 
 
 
 

[tombacon89]

I am going to try this template to document my thoughts throughout the session as I am hoping this will tune me in more and help me explain my thought processes better. This is more of a working document to guide me through the session and keep me in line with the strategy rules... is my idea.... subject to improvements. 

DAX40
30.12.2021
LONDON OPEN

Pre Session Questions:

A)Is there any red news to be aware of?

No

B)What is the hourly charts position?

H1 has just had a really nice W3, currently in a period of consolidation after a short trend / pull back down. The overall trend on H1 is long.

TRADE RULES

a) Have you identified the pre-market range, overnight range and significant levels?                               If NO - NO TRADE.

Yes.

FO range is tight, price is also range bound sideways overnight in a larger range, but looks to be enough room to trade the break of FO range to the overnight range.

b) Has there been a breakout with an M5 Trend Candle?                              IF NO - NO TRADE.

Yes 10:35 m5 candle is a TC closed just outside FO range. This candle closed on the low of LO M1 candle 10:00hrs.
5 M1 candles couldn’t break the low, seeing this as new support.
Waiting for better breakout short.
Price turns long again.
Waiting.
11:05 M5 TC candle breaks range long. Interested. Waiting on M1.
11:09 M1. empty 1. Don’t take these.
The 11:05 M5 TC was the 6th bullish bar. Has price moved too far? Range ping pong?
11:10 M5. Large bearish TC back inside the range now.
11:20, M5 TC inside range. But a lovely tail. Price could go long again. Waiting for FO breakout and M5 TC.
11:25 M5 going long. Broken range and just broken recent failed breakout. Waiting for M1 now.
11:33 M1, stall on the next recent swing out of the FO range. Getting closer to Overnight hourly range now. Is price too close to the overnight range?
Waiting for M1 pullback with tight signal. If I can get 2R within Overnight range I’ll take the trade.
11:34, Empty 1 on the 0400hrs swing high. Don’t take these.
11:37, Empty 1. Don’t take these.
11:39, test of the overnight range. Bearish candle
11:40. Blue 1. PO above the previous candle and will break the overnight range.



c) Has there been a pull back and signal outside of the range?                                                      IF NO - WAIT.

Feel like a mug writing this.

PO set, triggered Long. 11:42.
Knew instantly that this was a DS0.
Looking at the 11:35 M5 candle this was NOT a trend candle because price didn’t close in the top quarter. (realised after.)
Price NEEDED TO BREAK THE OVERNIGHT HIGH, then pull back.

I have taken the break of the FO range, and waited for a signal. Then traded right on the level of the overnight range.


BATCH ONE TRADE 8
DAX40 long.
Risk is 1R. There are 3 outcomes.

-1R is hit.
SL to BE at 1R, and BE will be hit.
SL to BE at 1R, 2R will be it.

d) Did you follow your trade management exit rules?

Yes, -1R was hit. However, knowing my entry was wrong I wanted to exit immediately.

BATCH 1 TRADE 8.png

 
6. Question After The Trade has been closed: 

a) Did you trade the plan?                                                                   IF NO - WHAT WASN’T PART OF THE PLAN?


No, I did not wait for a break of the OVERNIGHT RANGE. I did not confirm an M5 trend candle.

I Must stay focused right until the end of the session.



b) Did the charts look and feel clear to you during this session?

Up until the very last bit, yes they did and I felt in tune with the market and the strategy. I failed at the crucial point. 




c) Questions arising from this session?

How close is too close for the FO range and the Overnight / Hourly range?

Can we take setups that we can get 2R from and use the Overnight as a target? Or, should we wait entirely until the overnight range has broken out?




7.DS For this Trade: 0

8. DS Running Total: 4/8.

Every day is a school day.....
 
 
 

[tombacon89]

Yesterday’s rent has been bugging me a little bit today, why? Because I know it was preventable. It was My impatience that cost me the rent; a deserved rent. I am actually glad it rented. It was a bad trade. But I must learn from them otherwise there is no point.

The main lesson learnt for me here is I must learn to Wait Wait Wait. If it ain’t happening, don’t force it. Don’t get sucked into trades that are not there. Draw your levels and wait. That is it.



I have watched this video a few times today. It has answered the question for me or taking a trade from the tighter range.

My understanding is it can be done although it just didn’t develop in the video within the range. The video describes a breakout at the open and a NEW high forming.

I have also watched again the Levels to the Left video. This has also answered a few things for me.

In yesterday’s session I shouldn’t have looked for the trade between the FO and the Overnight range because there were too many levels from overnight to the left to contend with. It wasn’t clean.

The correct thing to do would have been to JUST WAIT for the proper breakout.

https://youtu.be/tUhbjkNKp_c

I can put this one to bed now having feel like I have clarified a few things.

It is unlikely I will get to trade now properly until the second week in Jan due to work commitments; but will continue to go through the learning material.
 

[tombacon89]

I have taken some time away from the charts over the New Year period, mainly due to work commitments.

In my down time I have put together my first basic trading plan which I intend to complete for the T20 challenge. I needed some clarity, and feel putting this down on paper in my own words has given me that. 

This plan is based around my understanding of what I know so far of the hunt method, trading pullbacks.

I want this plan to help me identify knowledge gaps or weaknesses within myself, and my ability. It is also for me to refer to daily to start with to increase my focus on trading only the system and remind me to maintain discipline during the session. 

I am accepting of the fact that this will be a working document and changes will follow; either based on my future knowledge and understanding, or my positive progression into allowing some manual exits into my trades. However, to give this a true chance and to in still discipline and repetition I will make any changes to this trading plan after 3 batches. I will then keep those changes until the end of batch 5 and review again.

I will be working full time along side this trading strategy, 2 days, 2 nights, 4 days off. There will be some weeks where I have all 10 open sessions available to trade; other weeks I may only get 2/4 sessions in. So for this reason, I am NOT doing monthly targets but I will stick to the batches.

I will post my results and do an analysis at the end of each batch. 

T20 PLAN.docx