Tom's T20 Journal

[immy]

21.03.2022
LOBATCH 5 TRADE 3.pngDS1
-1R
M5 was climatic, but produced an inside bar. Calculated risk to get to BE before the support zone on htf. M1 had 5 signal. Price was not climatic on M1. Returned to emas. I took the trade, it rented, then went into range. Was not the highest probability trade. Pullback was far from breakout. 
 BATCH 5 TRADE 4.png
DAX M1
BE
DS0 - why? Had PO set for the first signal. Cancelled PO when new bar formed, much tighter. Pressed buy bar on the tighter bar. PO set above first original signal then hit entry. I Wanted to trade the smaller bar, I went to BE manually as I was not in the trade I wanted to be in. Emotional reason for this? probably some greed wanted the tighter entry meaning price not needed to move as far. Not fully accepting the risk - the need to get to BE. = fear of losing. 

Calling it a day. Not in the correct mindset.

I am transferring over to a different broker (pepperstone) so need to get everything setup on that now. I won't trade and do the admin at the same time. 

DS 3/4 


 

Why the F***** are you trading USDCAD on m1??? 
Did you trade USDCAD during your 75R demo trading? Nope... 
You cannot give it a DS1 ... USDCAD m1 is NOT part of your trading plan. And if it is, then it MUST NOT Be.... 

FX does not have volatility enough to qualify for trading on the m1 chart. Except during news times. (sometimes). DELETE your FX charts. You still need ALOT of discipline training. You can't have h1 charts and then drop to m5 and m1 for fecking entries... I'm furious  
 
 
 
 
 

[tombacon89]

Thankyou immy. This was a blessing in disguise. Although, there was NO disguise just a blessing to keep me grounded.

I have conducted a FACTORY RESET. H1 and all forex has been removed.

This would all be pointless if I did not consider what reasons put me in this situation.

So just off the top of my head, without digging too deep I am just going to start writing and see what comes out, about what I believe some contributing factors are this; and these are things I need to work on:

- don't be over confident. But be objectively confident. Have confidence in your rules and execution; not your PnL results.

- don't make things fit. Don't have the setup is a setup mentality in the sense it can be applied anywhere. The setup alone is not enough to have the EDGE. It has to be in context, with the correct market, at the correct times. If nothing is happening on the correct chart for that session, tough. Ride it out, OR leave. Do not start looking elsewhere for less probably, less or no edge setups.

- getting to break even quick. I have mentioned a few times, I urge to get to BE. When I get there, life feels good. I have to work on this. It DOES NOT and SHOULD NOT matter what the outcome is. I KNOW this already, but have to control it now. I have to be confident in my execution and put the rest down to probability mindset.

- lack of patience. Which is, fear of missing out, which is, I am at the trading desk for X period of time (barber shop), so I feel I want to make best use of that time by taking trades. This feeds back into making things fit.

- H1, what does that look like for me? i'll give you a clue... it has now been removed! several H1 charts looks like, ooooo, H1 trend candle, what is beneath it, what does the fractal geometry look like, where is the opportunity beneath this? Ooo look, the charts moving well, ooo look, there is a setup..... what actually is that feeling of the chase? Looking for customers for the barber shop? = making things fit and fomo = fomo = making use of my time = taking trades to justify my time. I am not ready for H1 yet. It is a different style. As much as I like the analysis from H1 down and keeping my mind busy, I cannot control myself enough to stick to purely H1 yet. I will review this in the future but It is not for me just yet.

- I have to learn that my only investment should be my time. The risk may be financial, but my investment is my time. Every session I am going to make note of something positive from that session now on. So I am benefiting in a positive way and getting something back from my use of time. Positivity payment and DS1 is my goal.

- Discipline. comes with making mistakes, understanding them, knowledge, experience, time and MINDSET ON THE DAY. It will come, as long as mistakes are made and learned from, it will come. Mistakes are BANNANA PULLBACKS. With a view to propelling forward again  

- What have I not been doing since batch 2/3, consistently? = reading my trading plan before every session. Why? overconfidence, thinking I know more than I do. You are still a beginner, the apprentice, the tea maker. Nothing more. Keep laying the foundations until they set solid. 

- Pre-session routine has slipped. Re-start it. Take the dog for a walk or do some stretches, 20mins. Have breakfast, read your trading plan and rules. Draw the relevant levels on the M1 only chart. Then.... be the silent assassin and wait for your sniper shot. No more dipping in and out because I have half an hour spare in the day. If you want to trade a session, do your pre-market routine.

I am just going to leave these screen shots in here and move on. 

REMINDER!.png

 

REMINDER A.png

 

REMINDER B.png

 
BATCH 5 - DAX LO, US30 NEO. M1 chart. 2R max drawdown per session. Hunting DS1 only. Done. 
 

[tombacon89]

NEO 22.03.2022

US30

Pre-session routine done and rules read? Yes

Thoughts during the session:

Over thinking it, feel a little bit like my confidence has gone. But this is ok, it will return I know it will, it is only because I want to do my best. I Tried to remain objective, but was not really 'on it.'

Positives from the session:

- I did not chase price
- I did not let fomo take over.
- I did not go on the hunt in other markets
- Did I make a mistake, yes, by not taking setups... however. If I was unsure, I did right not to pull the trigger. But I put my thought process out there and sought feedback. For that I am pleased. It is how I will improve.
- I learned my 'love' for drawing support and res levels on htf is becoming a hinderance to me. Get rid of them. Focus on M1 now. Local s/r on M1 is the ticket now.

I shall return tomorrow (after watching immy's video about my s/r issue tonight!) thankyou immy.

NEO 22 03 2022.png

 

US30 NEO 22 03 2022.png

 
 

[tombacon89]

TOMS LOBOT NEOBOT TRADING PLAN.docx

 

[Minsk]

Reading along, I'm learning so much of others journals and entries. Thank you for doing that!

[tombacon89]

GER40
LO
23.03.22


Pre Session Questions:

Have you done your pre-session routine and read the rules?

Yes

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

No

Red news at noon

B) Have you identified and plotted the relevant range levels?

Yes

TRADE / SESSION SUMMARY:


Did you trade the plan? 

No

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

Yes, for most of the time. Does not mean it is not easy though... Does not make discipline any easier.

b)Questions arising from this session?

When to count the pullbacks. I see immy has posted a video today, so I will watch this and hope to find the asnwer.

Not relevant to LO, but I see my US30 spread is huge, 3.6pips… it was the same yesterday. This is going to destroy any trades for me.

DAX spread is 0.9, still larger than IC markets 0.1. Makes it quite big for pending orders and pushes the tp further away also....

D)How did you feel?

Before the session I felt a little bit of pressure to not fk it up.. but once the session opened, I knew where I was at. The only pressure is what I put on myself. It is not necessary to do that.

I had my levels set; I watched the open, looked at price and what it was telling me. I started to feel relaxed. This continued for a while.

I saw the wider m1 range, I knew this was the best place for it to break and retest. Then I saw trade 5.

I am conscious to just 'take the signals' but obviously this must be combined with the correct context and fit the rules.

Trade 5, did have what I saw as impulse move and pullback. But was within the wider m1 range. Should have waited for break of that levels left, but there was room to trade down to it. looking now, the Impulse move was actually not really that impulsive.... So I have given DS0.

The break happened. Po was set but it was way below where It should have been so I cancelled PO. This was because atm was set to current bar not last bar for some reason.. Entry was too far away from the signal. I could have let it trigger but that would also have been incorrect. So I chose to cancel it.

Trade 6 - Is this technically the third pull back from the start of the original move down?? But second from the break of range? hopefully immys video will clarify this.

I took it, price stalled and spread did not get through 3r. I moved SL to 1r at this point. I have done this in batch 4 towards the end. BUT In my TP it states 3r or BE so I had to DS0 myself for this. It is annoying because tighter spread would have been no issues. I need to pick an exit strategy and stick to it. 

BATCH 5 TRADE 5 AND 6.png

 
DS 1/6


E) Positive thoughts, feelings or learning from this session:

I started off feeling a bit of pressure pre-session, but I overcame this quickly. that is good.

I will go away from this to learn the pull back count and get clarity on that.

It is ok to feel like you are going through a washing machine again. 
 

[tombacon89]

US30 NEO
23.03.22


Pre Session Questions: Have you done your pre-session routine and read the rules? Yes

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

No 

B) Have you identified and plotted the relevant range levels? Yes
  
  TRADE / SESSION SUMMARY:  

Did you trade the plan?  Yes

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

b) Questions arising from this session? Hmmm, US30 spread at 2.4… not good. May have to switch to Nas for this reason. 

C) How did you feel?

Before the session I had been for a 2hr walk with the dog in the sunshine. It took a while to shake off the morning thoughts, I was not going to trade this afternoon actually. However, I did. I have to get through the uncomfortable feelings. Have to learn to put things to bed and say NEXT. However, by the time NEO came I felt good when I sat down to trade.

I opened the charts at the open, saw the level I wanted to see break; waited, not long. Watched price and took the trade. 

Trade 7 DS1 3r. 

Followed price, marked the newly formed m1 levels. Waited for the breakout and pullback. I went short. 

Trade 8 DS1 -1r. 

Spread bummed me on both trades, when you do the maths on how spread affects the trades and the distance needed to reach TP, it is ridiculous.   

Immy took BE on the 1 signal. Trade 8. Look how far Trade 7 had to move to get to TP!  All down to spreads.....
 

BATCH 5 TRADE 7.png

 

BATCH 5 TRADE 8.png

  E) Positive thoughts, feelings or learning from this session: 

My head felt clear this afternoon.

My emotions were kept in alignment. 

I felt objective.

I have learnt a lot about spreads….

I focused on the DS1.

I did not mess about with my trades whilst I was in them!

Was not bothered that my DS1 was a loser. I realise this, money does not motivate me like it does other people. I do not do my day job for the money.. I never have. Been better than I was yesterday motivates me. 

The sun is still shining  

DS Running Total: 3/8
 

[immy]

You cannot trade US30 with 2.5 spread under such "normal" volatility. Don't be fool. 2.5 spread is not good. Ignore US30.

[tombacon89]

DAX LO
25.03.22


Pre Session Questions:

Have you done your pre-session routine and read the rules?

Yes

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

No


B) Have you identified and plotted the relevant range levels?

Yes


TRADE / SESSION SUMMARY:


Did you trade the plan? Yes

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

Yes I enjoyed following the market this morning. It was one for patience and been in tune. Old Tom would have probably tried to force a trade in this mornings bearish move. I paid attention to price, and the meaning of the price.

Price went bullish, I saw a range, I saw a break and this pushed price back inside the premarket range. I was waiting for a signal there, it did not. Price moved up again and I took the 2 signal. Aware of levels to the left in this situation. I believe this as DS1.

b)Questions arising from this session?

No, just thoughts.


D)How did you feel?

I still wanted to get to break even. Cannot hide that fact. When price started retracing I thought ok, probably a loss here now fair enough. It was so close to been stopped out and then within 2 seconds price hit 3r to the pip. Luck? Felt like it.


Whilst in the trade I thought, price has moved quite a lot since the bearish low. It is more like a channel now.

Up until then I thought I had a good read of the market. I felt in control. I Can’t allow the in trade thoughts to haunt me.

25 3 22 DAX climatic.png

 

BATCH 5 TRADE 9.png

  


E) Positive thoughts, feelings or learning from this session:

My head felt clear when I sat down to trade.

I felt confident in the levels I marked.

I did not have any thoughts of Fking it up.

I also followed Nas this morning, plotting stuff as it went along. I did not feel the need to trade nas, this is training my self control.

The sun is still shining

DS Running Total: 4/9
 
 

[immy]

My 2 cents

1. You followed Nas this morning. That itself is loss of discipline. Don't divert. Focus on DAX and if its not moving properly, don't trade. Don't play on other charts, it will only make you miss your chart when the time comes.

2. the trade you took , as you have pointed it out, you saw the channel, that means trade is invalid. We don't trade channels. We trade "breakout and then first or second pullback".

hopoe this makes sense.

ps:

WHERE IS THE IMPULSE MOVE - QUESTION 1