Tom's T20 Journal

[tombacon89]

 DAX40
10.01.2021
LONDON OPEN

Pre Session Questions:

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

No

B)What is the hourly charts position?

Over the last 2 weeks H1 has gone through a nice strong 3/4/5 uptrend.
15863.00 has seen support.
15970.00 zone is the peak of the W3, this has been tested as support recently. Price went below this and is now back above, COULD see this level hold as support and a continued uptrend.
MAs are short but on the turn long again. Price is above the MAs.
If H1 FO candle closes as a bullish bar it will be a break of the overnight highs.


TRADE RULES

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

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

M5 CANDLES:

FO candle was a strong bullish candle that broke the overnight range.
10:05 short, broke the FO range low, TREND CANDLE.



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

10:10 M1. Re-test OUTSIDE of the FO range low. PO short. IN. DS1.

10:16. M1. Follows the 10:15 M5 TC. M1 pullback. PO set at 10:16 M1. Not triggered. Cancelled.

10:17. M1. Inside bar. (empty 2) PO set, IN. DS1.


DONE. NO MORE TRADES. 2 TRADES TAKEN. THIS IS MY PLAN. SIT ON MY HANDS NOW, OBSERVE, LEARN, FOLLOW THE MARKETS BUT DO NOT TRADE.



BATCH ONE TRADE 9 and TRADE 10.

SL to BE at 1R, 2R will be  hit.
T9 2R DS1
T10 2R DS1

d) Did you follow your trade management exit rules?

YES. X2 trades.

BATCH 1 TRADE 9 AND 10.png

 
Questions After The Trade has been closed: 

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

I did trade the concept and my plan. I did not have aims license file setup during this session. (issue with download.) but applied the concept. I took the first and second pullback/retest from the breakout of the range, after an M5 trend candle. Entry on M1 only. DONE. 



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

Yes.

c) How did you physically feel during the trades?

I could sense my breathing getting longer and deeper. The trades felt quick. I was focused enough to take the second setup whilst still in the first trade. This is good. Trade the setup not the emotion. 

d) Questions arising from this session?

No questions… however, having a good pre-market understanding from H1 down, with pre-defined levels absolutely helped with my confidence of trading the LOBOT.

It’s ok to take a second setup if I am BE in my first position.

These trades were back into the overnight range, so some may say into the noise to the left. But it is ok because we had LO MOMENTUM. THIS IS THE STRATEGY. MOMENTUM AT LO AFTER A BREAKOUT. 

PREPARATION IS EVERYTHING.

immys approval.png

 This helps  


7.DS For this Trade: 1+1
8. DS Running Total: . 6/10
 
 
 

[tombacon89]

US30
10.01.2021
NEW YORK OPEN

Pre Session Questions:

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

No

B) What is the hourly charts position?

Since the end of Dec H1 has been moving upwards in a strong 3/4/5. The 5 has finished, around the 5th Jan. There was a strong move down. As I look now H1 appears to be in a descending channel. H1 candle is currently setting up a short H1 trend candle, but into previous level of support from the 23rd Dec. I conclude that H1 is ranging sideways now but with a trend candle forming short. Initial session momentum MAY be short.  However I am AWARE of significant past levels approaching and close, may look to use these as targets or turning points. Remember this is a session open MOMENTUM strategy. 
TRADE RULES

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

YES

b) Has there been a breakout with an M5 Trend Candle?                         IF NO - NO TRADE. 
Yes - NEO gave us an M5 TC with a little bit of wick. Short, the next M5 candle was a bullish hammer. 16:35. There was a pullback and retest of the Range Low and particular the zone on H1 I identified. We had an M1 signal, but it followed a big bullish bar which caused M5 to be a reversal pin bar. I actually set an order short for this on the M1 16:40 candle, but then cancelled it straight away when I double checked M5 for a TC and it was not one. 16:40. M5 next short TC. Had taken out the pin bar low. This was more like it.



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

Yes 1640 M5 TC with the M1 signal at 16:46. empty 1. IB pause with the trend and NEO momentum. I saw this as the second signal/pullback therefore I knew whatever happened after that, I was not taking a trade as my plan is to take the first two only at this stage.   BATCH 1 TRADE 11
SL to BE at 1R, 2R is hit.

d) Did you follow your trade management exit rules? Yes - SL TO BE, LET BE OR 2R BE HIT.
 

BATCH 1 TRADE 11.png

 

BATCH 1 TRADE 11 HOURLY TGT JUSTIFICATION.png

   Question After The Trade has been closed: 

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



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

It took a little longer to see, because I had identified the previous hours range so close to the overnight range. I had to do a bit of changing of boxes and needed text to confirm which line was which. But I was happy with the levels. It was good to look back at the swing levels on the hourly for potential target zones as this was a clean break short. 

c) Questions arising from this session?

Is there a requirement to plot london open line on the US30 for NEO? 

 D) How did you physically feel? I felt confident that I had traded my plan, but saw price come back to test the 1r level of my trade. For some reason, I thought ‘ok this is going to take me out for BE.’ But then realised this was in fact my 1r level not my entry level. Perhaps a bit of zoning in and not seeing the bigger picture here for a second or two. I felt happy if it was to hit break even whilst in the trade though because that is what my plan says, it is an expected outcome, so I was ready for it. Also pleased it went on to be a winner. I now feel a bit tired from the two sessions. Today has been a good day. 

7.DS For this Trade: 18. DS Running Total: 7/11
 
*** DS altered - feedback from Immy in discord group, do not trade empty ones. Although in this case, the context was correct and was not a bad trade . ***

This empty 1 was a seed. Seeds require 1:3 rr. To maintain discipline and consistency going forward I have removed empty ones in my bannana signal template. 'set to false.' 

CORRECT DS - 6/11. It's ok. I'm learning. 

 

[tombacon89]

GER40
11.01.2021
LONDON OPEN

Pre Session Questions:

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

10am USD red news. Shouldn’t affect me. I Don’t plan to be around at that time. 9:45 latest. 

B) What is the hourly charts position?

The long term trend is bullish. There has been a recent push down, but not clean. H1 MAs are now starting to sleep/cross. Indicating consolidation or reversal possible back to the upside if it goes. 

Overnight there has been a large bullish candle followed by a period of consolidation in the top half of that candle.

Overnight range. FO was a bullish hourly bar so I’m anticipating LO to break long if it does. 
TRADE RULES

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

YES

b) Has there been a breakout with an M5 Trend Candle?                         IF NO - NO TRADE. 
Yes - 10:00 candle LO was an M5 TC closing outside of the range, but only just outside. Nothing on M1. 

NO - 10:20 candle has broke LO high. Waiting for M1 to setup Long. M5 closes within the LO high now and is NOT a TC.

I’m Aware of minor swings to the left though, is it too close? (this becomes relevant later.) 

I’m looking at M5 from LO and seeing 6 larger undecided candles. Up and down up and down. This isn’t clean. Going to wait for a break of the LO high first. If nothing sets up, so what! Don’t get dragged in…. 

11:20 M5 candle breaks the session high. But it is not the best TC, it’s pretty much closed on the top quarter. Bang on an identified previous level.  

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

Yes 11:20 M5. Not the best TC. PO set and deleted straight away. On the historic swing level. WAIT for price to break the level and re-test. 11:30 M1 candle, number 2 signal. Did not take. Price still on the level. I want to see it break and pullback. This was a 2R winner. Oh well. My justification was there not to take it. Levels to the left stopped me. There is No point plotting them and ignoring them…    

11:40, PO set, next candle cancelled the order. Done. No More.  

d) Did you follow your trade management exit rules?

No trades taken. 

Question After The Trade has been closed: 

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

Yes, I followed my rules and this kept me out of trades.

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

At Lo Yes, Until LO had happened, we had a break short back inside the overnight range and FO range; I was considering a short based on an impulse M5 candle and M1 pullback, LO and FO opening lines were considered. Nothing set up. But I thought about it.


c) Questions arising from this session?

 I will re-watch the ‘levels to the left’ video

D) How did you physically feel? I felt confident and in control during LO. I was a little confused after the initial LO had finished and price broke short back into the range.. at what point does LO then simply become an impulse move and micro pullback? if it’s not right.. WAIT! 

I felt like historic levels to the left worked against me because they are so close in price movement not time, but I also know it is important to plot them and have awareness of them.  It can work both ways, they can get me in or keep me out… today they kept me out and there was a 2r winner… If you remove the level I drew from the chart, it was a lovely resistance turning into support off the LO high. I set my levels, price went without me…

Did I take a trade un necessarily? NO.
Was there rationale for filtering the trade? YES. 
Can I simply ignore what I have previously identified? NO. Move on.  


7.DS For this Trade: n/a8. DS Running Total: 7/11

 

M5 LEVELS LEFT FILTERED.png

 

M1 LEVEL LEFT FILTERED.png

 
 

[tombacon89]

US30
11.01.2021
NEW YORK OPEN

Pre Session Questions:

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

No

B) What is the hourly charts position?

Since the end of Dec H1 has been moving upwards in a strong 3/4/5. The 5 has finished, around the 5th Jan. H1 has 4 bearish candles, looks to be heading to the range low. H1 levels marked and happy. I knew my possible areas of stalling/testing before getting into any trade. 
TRADE RULES

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

YES

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

YES - 16:30 at NEO. Bigggg candle.


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

Yes. 16:47 - big candle though, however. There is momentum. Unaware of any specific rule around the size of the signal candle before taking this. However I saw it relative to the immediate price action. I am still going to take these whilst I am learning.   

BATCH 1 TRADE 12….DS12RSL TO BE - 2R HIT


d) Did you follow your trade management exit rules? 

YES - as much as I wanted to exit out manually at the double bottom when price failed to break by 1 point. I stuck to my trading exit plan.

BATCH 1 TRADE 12.png

 

B1 T12 LEVELS.png

 

   Question After The Trade has been closed: 

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

Yes

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

Yes, setting the levels was all clear, the initial move was clear. my understanding of what I thought was a signal 2 was incorrect.

c) Questions arising from this session?

Why was the number 2 NOT a valid signal? Immy’s anwer:where is the breakout phase? where is the impulse move? 16.45 failed to break the lows. that was already rejected 16.47 was a signal inside a micro TR and of course now it is evident that price is STILL within that same TR

How could I have very quickly and simply recognised this was NOT a valid signal? ---- M5 WAS NOT A TREND CANDLE. This is why I have my screen setup as m5 and m1… for this very reason. Use it Tom… Don’t get drawn into M1.
 

INVALID SIGNAL 2.png

  D) How did you physically feel? 

Good, calm, I wanted price to sneak through the 2r TP when it bounced initially missing it. I could see price was moving well so wasn’t phased by any little pull back as I expect to see pullbacks during a move. 

Immy pointed out, I was looking for a second trade whilst still in trade 1. From now on, I will not do this. 1 trade at a time now. Irrespective if I am at BE on trade one. Take one trade only now. I will amend my trading plan for this.

7.DS For this Trade: 1
8. DS Running Total: 8/12
 
 
 
 
 

[tombacon89]

GER40
12.01.2021
NEW YORK OPEN

Pre Session Questions:

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

No

B) What is the hourly charts position?

H1 has climbed higher overnight, it is not in a trading range. FO had a strong bullish candle. 
TRADE RULES

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

YES - however it became apparent during the chat that because H1 was not inside a TR overnight, there is simply no need to identify the range from midnight until LO. If it is RANGING, then do this. If it is moving, then there is no need.


b) Has there been a breakout with an M5 Trend Candle?                         IF NO - NO TRADE. 
Yes - the first breakout candle was a TCThe candle I took an entry on m1 for, was not a TC but it was a bearish candle.



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

Yes   BATCH 1 TRADE 13
-1R
DS0
0 because my trade was too late in the move. There was no new impulse move.

d) Did you follow your trade management exit rules? Yes
 

BATCH 1 TRADE 13.png

  Question After The Trade has been closed: 

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

No - entry was too late. There had already been a breakout. Seed entry was too late in the move.

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

At the time yes, but my understanding of certain points needed clarity and some things discussed in the chat made me realise that my understanding isn't quite there yet. 
c) Questions arising from this session?

Questions or learning points were brought out In the chat. 

1, FOMO - justifying FOMO. Subconscious FOMO or lack of understanding?

This lead to clarity around what I understood as a 1st and 2nd breakout. We take the first and second PULLBACKS, this is the meaning of 1st and 2nd - not pauses. Although, in the correct context it is ok to take the pauses. But remember, I have 2 trades per session, so if I take breakout one and a pause within that move if it presents; i'm done. May be best to wait for breakout two instead. 

When A PAUSE happens within the current breakout. A PAUSE candle, small inside bar, is a SEED in aims terms. You must check the location of the seed within the CURRENT BREAKOUT. If we have a breakout and pause towards the start of the move, this is ok. But we really need to be questioning SEEDS towards the end of the breakout.    

A SEED is shown as an empty signal. An empty 1, would be, the first empty seed. An empty 2, would be, the second empty SEED. There must be a NEW impulse move, New impulse moves form at the start of the move…. this is where we want to get in.  

Emma — Today at 08:26the solid ones is the ones you want to take. empty 1 is a get ready for a possible signal and the empty 2´s are seeds. and I think i am right when i say that filled seeds are double seeds?  

2. OVERNIGHT HIGHS AND LOWS

When to mark them? When are they relevant? - WHEN THERE HAS BEEN AN OVERNIGHT RANGE. If the market is moving overnight, then it is not in a range. There is no need to mark them in this situation.  

3. ONLY take a trade when there is a signal. ONLY take a trade during your trading hours. WAIT for LO/NEO.

4. Immy and Emma both took a trade, we had a breakout M5 TC. Price on M1 pulled back inside the range, the majority of the pullback was inside the range. But their entry was outside of the range. This was a DS1 for them.

My understanding was the whole pullback should be out of the range, but I now see this as acceptable to place my entry outside of the range, even if part of the candle is inside the range. (see chart above.)  

4. KEEP IT SIMPLE. DON’T OVER ANALYSE.

Use M5 as a guide. Mark your newly forming M1 levels and ranges. Ask yourself where are we in the waves, are we now in this present moment trading or ranging.

I'm learning, I have to take trades to learn.   

D) How did you physically feel? pleased these learning points are coming out.  
7.DS For this Trade: 08. DS Running Total: 8/13
 
 

[tombacon89]

US30
12.01.2021
NEW YORK OPEN

Pre Session Questions:

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

No

B) What is the hourly charts position?

H1 has consolodated over the previous several hours and then had a nice bullish candle pre session.
TRADE RULES

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

YES I identified a further micro range after multiple failures to break long after the session open.  Once could argue this was not a trading range and the true trading range would have been the session range.

b) Has there been a breakout with an M5 Trend Candle?                         IF NO - NO TRADE. 
Yes there was a breakout and I marked the impulse move with a box on m1.



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

T14 - Yes - I liked the pullback pin bar filled 1, rejection of NEO open price which it has just gone short of. Entry was below the low of the impulse move but not the most recent low. 

T15 - clean pullback, small doji off S/R. tight stop loss. T14 had completed so I was within my plan to take T15.  

BATCH 1 TRADE 14 and 15
2R x 2
DS1 x2 

B1 T14 AND 15.png

 

d) Did you follow your trade management exit rules? Yes
   Question After The Trade has been closed: 

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

Yes - the concept. Range, breakout, pullback.

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

Yes - I was aware of the chop to the left, that chop was created by wicky candles. The move I saw short towards that chop I believed to be cleaner and with purpose following multiple fails to break the high.  
c) Questions arising from this session?

Opinion around the empty 2 would be useful. 

D) How did you physically feel? Conscious of the stuff to the left but otherwise happy. 
7.DS For this Trade: 28. DS Running Total: 10/15
 
 

[tombacon89]

GER40
13.01.2021
LONDON OPEN

Pre Session Questions:

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

No

B) What is the hourly charts position?

H1 is in a wide range over the past few days, a triangle shape, we have had a trading range overnight. The FO hour session was a bearish H1 candle. We are really close to the FO low at LO. Yesterdays low is also very close.

TRADE RULES

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

YES

I identified a range within a range. I saw M5 TC short, 11:10




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


Yes



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

TRADE 16
DS0
-1R

i know we are inside the session range, but thought i identified this range within the range.

i didn't see the pink empty two as a true breakout

then set po for the filled two which was cancelled, I was happy with this PO decision.

I skipped the 4 as I didn’t like the fact LO was so close, wanted to see that level break first.

then the next 2, i wanted to see that new low break first, which it did

then the 1 i took tested the low, so was thinking ok, support turned resistance is good.

All the time, price is drifting further and further away from where the turning point started.

BATCH 1 TRADE 16.png

 
TRADE 17

Impulse move, pull back beginning on M5. NOT CLEAN on M1. Too many levels to the left. FO in the way. Within a range bound market. REMEMBER THE CONTEXT.

DS0
-1R

BATCH 1 TRADE 17.png

d) Did you follow your trade management exit rules?

Yes




Question After The Trade has been closed: 

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

Trade 16 and 17

This was sh!t. No patience, forcing it, looking for things that are not there. Trying to make the context fit. No excuse. 


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

I am happy with the immediate open, but once this has passed. Then I start to get a little bit sucked in to M1. So, NOT REALLY NO



c) Questions arising from this session?

Learning points

LO and FO levels are used for the hunt method, they are a guide, they are often good pivot points.

IF YOU CAN’T PICTURE IT CLEARLY IN YOUR MIND. FORGET IT. WALK AWAY OR WAIT.

DO NOT GET SUCKED INTO M1. WHAT IS THE BIGGER PICTURE?

IF YOUR TIRED, WHICH I AM, STOP.


D)How did you physically feel?

About an hour in to the session I felt tired. Not making excuses for my losses, taking trades is my responsibility and mine only. But I need to be aware of this.

Is my desire to learn affecting my decision making? Am i trying to prove to myself that I actually 'get it.'

Possibly... my desire to learn is causing me to get consumed in this mentally, revision away from the charts etc.

Note to self. Don’t force it, the markets ain’t going anywhere. Play the long game. There is no rush.

I’ll be back, but next week. 

7.DS For this Trade: -2
8. DS Running Total: 10/17
 

[tombacon89]

GER40
18.01.2021
LONDON OPEN

Pre Session Questions:

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

No

B) What is the hourly charts position?Range, FO low broken at LO. TRADE RULES

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

YES  b) Has there been a breakout with an M5 Trend Candle?                         IF NO - NO TRADE. YES, although the pull back was not quite within 25% to the bottom, the momentum was there and there was a pull back on M1 with a signal. If I was super fussy this could have been filtered. But, this is LO. We want the market to move remember….  


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

 YES, Aware of previous swing level to the left, red line. PO was just below this to trade away from it. M5 had just broken this, so it had already broke the level. 

d) Did you follow your trade management exit rules? Yes. I was aware immy had manually gone to BE from the chat. I DID NOT let this affect me. My plan is my plan. Well done here.
 BATCH 1 TRADE 18DS1-1R…. but its a DS1! Question After The Trade has been closed: 

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

YESSSS
b) Did the charts look and feel clear to you during this session?YES - this is what I want to see. Good flow, nice momentum, nice clean pullbacks. 
c) Questions arising from this session?
 A question for myself to answer over time.... but perhaps need to figure out at what point it is ok to get back in after a loss. The knowing between taking the next setup because it IS A SETUP or the knowing not to take the next setup due to FOMO.  At this stage, I haven’t quite figured this out yet. But that is ok. If I am unsure…. I wait… I will not longer dive in for any old signal.  D) How did you physically feel? Calm. Even after the trade had rented, there were further signals. I didn’t feel FOMO, but I can’t quite describe what it was that stopped me taking the next signal.
7.DS For this Trade: 1 8. DS Running Total: 11/18

 

BATCH 1 TRADE 18.png

 
 

[tombacon89]

GER40
18.01.2021
LONDON OPEN SESSION - trade was later in session

Pre Session Questions:

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

No

B) What is the hourly charts position?

Range low broken, heading short, FO low broken at LO. Price is moving. 

TRADE RULES

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

YES - new range identified. Setup one had happened. Which was lovely; and nice to see on blank charts (not the setup 1 template) 

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

YES, breakout and impulse move. Break low of the recent w3 low. There had just been a lovely successful setup one on M1 which was a pullback on M5. (not including this is my  stats. This was me playing with the swing settings on ATM; and also looking at the correlation between m5 pullbacks and setup ones. Using it as a learning opportunity to spot on naked chart.) 

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

 YES, 2 signal which was a lovely test of the previous w3 low. Support becoming Resistance. I was aware that the weekly low was close to price. The 1 signal was too big, in that a PO on that signal would have not produced the trade to get to BE before testing the weekly low again.

I wanted to see a tighter candle to produce a signal, meaning that my SL was tight, the distance required to travel would be less and BE would be well within the range of the weekly low. The 2 signal produced this.

I took this as the trade would get to BE if there was support found on the weekly low, and TZ1 for the setup one was still correct. Calculated risk. 

I applied the concept and that is what I need to do at this stage. BREAKOUT/IMPULSE, PULLBACK, SIGNAL, ENTRY. 

d) Did you follow your trade management exit rules? 

Yes; and my trade management was pre-planned prior to entry taking into consideration the key level close by.  

 BATCH 1 TRADE 19
DS1
2r 

Question After The Trade has been closed: 

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

YES, albeit aggressive.

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

YES - this is what I want to see. Good flow, nice momentum, nice clean pullbacks. Today I have maintained concentration throughout the session, my weekend break did me good. When the charts are moving smooth, things are easier to see. when the charts are moving smooth, things are easier to see… repeat repeat.   


c) Questions arising from this session?

 Is forming your plan to have SL to BE before possible rejection at a level ok to do if I am fully aware of it before entering. 

D) How did you physically feel? Calm. In tune. I was getting too fixated and hung up on every single level to the left over the last several trades. I trade to simply have an awareness of them today. 

7.DS For this Trade: 1 8. DS Running Total: 12/19

I may struggle for screen time due to work now for a while, so close to finishing this batch. But, I will not force the last trade. It must be DS1. 

 

BATCH 1 TRADE 19.png

 
 
 

[tombacon89]

US30
18.01.2021
NEO

Pre Session Questions:

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

No

B) What is the hourly charts position?H1 is in a small down move, with a consolidation Range Box low broken, heading short into a huge open space. TRADE RULES

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

YES - range identified. Break of the range low  

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

YES, breakout and impulse move.

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

 YES, 2 signal - HOWEVER. This was a breach of rule 3.   What is rule 3? I NOW know, thanks to immy putting me on the spot that rule 3 - price is too climatic. Means price has moved too far too quick, and is likely to apply the rebound/rubber band effect. Ultimately, I got in LATE. Remember the context…

d) Did you follow your trade management exit rules? 

Yes 

BATCH 1 TRADE 20
DS0
-1R

 Question After The Trade has been closed: 

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

NO

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

YES - I saw the range, I saw the breakout, I saw the momentum, I saw the pullback and signal. But I overlooked the context, and RULE 3. This became apparent after. But at the time I believed they were clear. You can't KNOW what you don't truly understand. 

Momentum sucked me in….  

CLIMATIC. RULE 3.png

 
 
c) Questions arising from this session?

No questions.  I need to cement the rules in my brain so when price is moving quick, I can make quick decisions accurately. it will come

D) How did you physically feel? 

I felt a bit rushed. Was this my fomo, or total oversight of rule 3 and NOT knowing the rules and setup inside and out.  Probably a bit of both. 

7.DS For this Trade: 0 8. DS Running Total: 12/20 (from what I believed at the time of rating each trade. oh yes, I am aware going back through my trades in slow time, applying what I have learned may well change this score.) 
 

BATCH 1 TRADE 20.png

  9. END OF BATCH I WILL NOT TRADE NOW UNTIL I HAVE DONE A BATCH REVIEW.