Dave from Sydney's Journal [Awarded Title: the Box-Trader]

[Dave]

Hi everyone,
I've had a lot going on in life away from trading recently (as is reflected in my lack of journal activity, and my all around lack of application to trading) so I've decided to take a step back and close the charts for a couple of weeks. I will, however, remain a silent observer of the forum and I am already looking forward to getting back to it in the near future. Trading successfully still remains one of my primary goals but sometimes there are more important things in life than sitting at a computer.
I hope the charts trend their asses off and you all score a bagfull of pips!
Cya again soon, Dave
P.s. I still have full faith in the AIMS system and the people and attitude of this community is great! So my decision to take a break is by no means reflective of my feelings towards AIMS!!!

[Dave]

Hi everyone,

I'm still on my trading hiatus but just wanted to add in my new daily questionnaire that will be completed in my journal....

Daily questionnaire

1. Did you trade today? If yes, detail your entries including reasons for entry and exit and trade results.

2. Were your entries in line with your trading plan? Discuss.

3. Was your trade management in line with your trading plan? Discuss.

4. Were your exits in line with your trading plan? Discuss.

5. Was your money management in line with your trading plan? Discuss.

6. If you had a losing trade were you patient in waiting for the next setup? NEVER SEEK REVENGE.

7. If you had a winning trade were you patient in waiting for the next setup? NEVER GET CARRIED AWAY.

8. Other points for discussion and general feeling of days trading (include results summary).

See you all again soon.

Dave

[wiseambitions]

Brilliant article

I have seen something like that before, but the first point of reflection was something like

"How did you feel today before you traded?"

There are some days when we shouldnt even trade (eg suffering man flu, after a late night out, after an argument, after a prang from the car behind at the junction etc etc) ! ! ! ! !

Also 'revenge' trading is a situation to be avoided as well!

[immy]

David

Very nice set of questions. ACtion is required. Consistently monitoring our performance will lead to Consistent improvement and eventually consistent success.

All the Best.

I THANK YOU For sharing that! Thanks to Everyone for Everything! THANK YOU

[Dave]

Thanks to both of you for your comments.
Ray, you reminded me of one other thing I forgot to include:

Did you perform your pre-trading routine?

For me this means taking 10mins to read through my affirmations and clear my mind of whatever else is going on in life..... before I turn on the charts! Cheers for the reminder.

Dave

[Dave]

Friday 30 Nov

1. Did you perform your pre-trading routine?

No. I turned on the charts and Skype while at work (it was quiet) with the intention of reacquainting myself after a couple weeks off. Setup showed itself so I took it.

2. Did you trade today? If yes, detail your entries including reasons for entry and exit and trade results.

1 trade with an add on.

Sell on EURUSD following DA on M1, close to ZL, and a fresh cross and fresh alligator opening on M5, so targeting an M5 W5 with an entry from M1. Sell at 1.29957 (SL above AIMS level at 11 pips), close at 1.29878 for 7.9 pips. Add on below new M1 AIMS level, sell at 1.2994, close at 1.29854 for 8.6 pips for a total of 16.5 pips. Thought it was a good entry as price outside the M5 AIMS box.

Exit doesn’t align because I am at work and lost connection with my platform for about 3 minutes during the trade, during which time my add on was triggered. So as soon as the connection was re established and I saw that my positions were nicely in profit I closed them in case it dropped out again. Second position took a moment to close due to connection, which proved favourable.

Screen Shot 2012-11-30 at 11.51.28 PM.jpg

3. Were your entries in line with your trading plan? Discuss.

Yes. Double arrows, followed AIMS rules.

4. Was your trade management in line with your trading plan? Discuss.

No, see above about connection error.

5. Were your exits in line with your trading plan? Discuss.

No, see above about connection error.

6. Was your money management in line with your trading plan? Discuss.

Yes. Position sizes calculated in line with account balance and desired risk %.

7. If you had a losing trade were you patient in waiting for the next setup? NEVER SEEK REVENGE.

No loser.

8. If you had a winning trade were you patient in waiting for the next setup? NEVER GET CARRIED AWAY.

No more trades after the one winner. Watched charts and enjoyed just sitting and watching and knowing target was in the bank.

9. Other points for discussion and general feeling of days trading (include results summary).

Good way to get back into the charts with a solid winner! Shame about the connection error as it would have been a good chance to practice management rules again. Not great that pre-trade routine wasn’t completed but the setup was good nonetheless.

Results summary: 1 winner with add-on +16.5 pips.

[Dave]

And, given my new format for journal entries I am also now tracking my trade progress with a running pip count in my journal, starting at zero and from Monday 3rd Dec. I will also include a graph of my progress each week. Cya next week.

Dave

[Dave]

Mon 3 Dec – no trading

Tues 4 Dec

1. Did you perform your pre-trading routine?

No. Again, I turned on the charts to fix up my Simple Forex Tester platform and saw the setup and took it. Need to start up this good habit again and not turn on the charts until the routine is done. It’s all well and good to have this question but it’s not ok to just keep saying ‘no’.

2. Did you trade today? If yes, detail your entries including reasons for entry and exit and trade results.

1 trade with an add on.

Buy on GBPUSD following DA on M1, fresh cross of ZL, and a break of 1/5/15 and above 60 min AIMS levels. Allis on 1/5/15/H1/D all open to the upside so well and truly with the trend, and M5 had DA too. Add on was a bit cheeky and to be honest I had set it before the last candle just peeked above what would have been a fresh level, good PA for an add on though. Buy at 1.61062 and add on at 1.61115, closed all at 1.61136 when price hesitated around weekly resistance pivot for 7.4 + 2.1 pips, total 9.5 pips.

Screen Shot 2012-12-04 at 7.31.45 PM.jpg

3. Were your entries in line with your trading plan? Discuss.

Yes. Double arrows, followed AIMS rules. Exit point was close and there’d been good sideways PA, in line with all trends.

4. Was your trade management in line with your trading plan? Discuss.

Yes, although my minimum stop distance on GBPUSD is 10 pips so it’s not as strictly managed as it is on EURUSD.

5. Were your exits in line with your trading plan? Discuss.

Not a bad exit and a grounded one, exited at weekly resistance pivot, but had I held it a little longer it may have been good for a few more.

6. Was your money management in line with your trading plan? Discuss.

Yes. Position sizes calculated in line with account balance and desired risk %.

7. If you had a losing trade were you patient in waiting for the next setup? NEVER SEEK REVENGE.

No loser.

8. If you had a winning trade were you patient in waiting for the next setup? NEVER GET CARRIED AWAY.

No more trades after the one winner. Had to help a mate move a wardrobe so happy to switch off until tomorrow with pips locked away. This is something I’m working more and more towards, achieving micro goals, being happy with a small taking, wait for the next session/day and achieve the big goal slowly.

9. Other points for discussion and general feeling of days trading (include results summary).

Happy with the entry. I wasn’t entirely 100% convinced when I placed the order but the confluence across trends on all time frames and the break of multiple AIMS levels made me place it. MUST DO MY PRE TRADING ROUTINE. Achieve the small goals and the big ones take care of themselves.

Results summary:

1. 9.5 (7.4 + 2.1)

[immy]

Lovely Trade and I must say, great way to record your performance! Wish you loads of pips!

[Dave]

Wed 5 Dec to Fri 7 Dec - no trading

Well, it's not ideal, but that's the end of my trading week. Life well and truly got in the way this week. Total chart time was 2 hours max, but anyway, the market is always there next week. As promised, weekly summary/progress summary which started this week and will run from here until eternity.... 8-}
I'm a bit annoyed I didn't get any chart time today as a quick look at the DAX showed potential for some serious pips! 08:24 UK time signal on M1, all time frames in confluence and nice eWave on M5. Ah well.

Weekly summary:

1 trade, 1 win, 0 losses, +9.5 pips. (1 trade with an add on is still 1 trade).

Running pip count:

+9.5 pips

Screen Shot 2012-12-06 at 8.54.18 PM.jpg

Cya next week, Dave