Michael's (zlabis) Journal [The Magician]

[zlabis]

Fri. Jan. 16, 2015

Screen time LO-session 9:05 - 10:00 am (GMT+1) M1/M5 DAX only.

After turbulences of last day, DAX started at LO a bit calmer. Nevertheless there were some nice entry possibilities which I apperantly ignored because I was not focused to the chart. Both trades of the day were according to my rules although the long trade had actually started with that nice fruit at 09:01 and went on with add on spot at 09:06 (times on screenshot are not correct).

Today I was somehow not in the right condition for trading - tired, mantally sluggish and distracted. It was good for me that I had to quit early after one hour.

Today's result:
- 14 + 9 = - 5 Pips

[zlabis]

Result of week 3 - 12.01.-16.01.2015 - live:

Mon. 12.01. + 61 Pips
Tue. 13.01. + 60 Pips
Wed. 14.01. + 46 Pips
Thu. 15.01. + 119 Pips
Fri . 09.01. - 9 Pips
----------------------
Result ....... + 277 Pips

[immy]

Michael!

What can I say, you're proving it! Well done mate. its all due to your discipline and patience. You are there at the right time. You take trades according to the system. You record everything correctly and post it in your journal. You've done the hard work of demo trading for 3 months and even added one more , the month of decemeber upon my request. All is going fine. Now all you have to do, is build on this confidence and meanwhile do not allow yourself to feel invincible and go reckless. There is a fine balance we have to maintain between fear and recklessness. Stick to the plan and carry one...

All the best... have a great weekend (hug) ^:)^ you Rock man \m/

[Michal]

oh man ! congrats especially as this is live account !! (party) (party) (hug)

[zlabis]

Mon. Jan 19, 2015

Screen time NY-session 14:30 - 15:30 (GMT+1) M1/M5 DAX only.

As I had no time at London opening, I jumped in at around 14:30 (GMT+1). There was nice price action going on although volatility was rather low so I decided to switch to M5 what was a rather good decission at that time.

I took a promising fruit according to the rules and placed PO at opposite side of it. Fruit trade turned out to be a rent but SAR-trade went in my favour. Due to strong level at 10.300 points, I placed TP 10p below of that level. It was the perfect exit but unfortunatly I missed this nexty down-fruit which, IMHO, showed an often appearing M-shaped candle pattern.

After comparing DAX M1 with M5 over the weekend with Forex Tester 2 where result of M5 was considerably higher than M1 I was confident about M5 - although limited, fragmented trading time is still an issue. But after conversation with Immy in Skype room, I'll stick to M1 since M1 is working out quite well for about 3 months - even with live trading.

Today's result:
- 16 + 41 = + 25 Pips

[zlabis]

Tue. Jan 20, 2015

Screen time LO-session 09:00 - 09:30 (GMT+1) M1/M5 DAX only.

LO started with a tight down range where I paid 4 rents in a row. The 5th attempt led into a nice positive trade. After that, I had unexpacted business work to do, so I quitted trading after 30 minutes. In hindsight I missed some nice positive trading opportunities as well as rents. Would have been a +/- 0-day, but with stopping early, I had to pay rent (-28p overall). That's ok because all entries and exits were according to the rules, IMO.

Little volatility and movement was probably due to yesterday's all-time high of DAX so it was somehow undecided today. I realized too late that it might have been a good idea to stay out until market was starting to move or to switch to higher TF.

[immy]

All well done and well said except "switch to higher time frame" you traded well IMHO! keep it up.

[wiseambitions]

Great tenacity there............to adhere to the rules without acting impulsively after 4 consecutive hits, and then to be able to recover more than half of your losses within the constraints of a time limit............. I might have given it up as a bad day, such as come along sometimes, or acted in uncontrolled stupor and got into a worse pickle. So you need to be applauded for the way you handled the situation.

Personally I sat and watched for perhaps 2 hours before finding the first entry according to my own plan, and it eventually paid off, however patience is not something I have in abundance.

I benefit a lot from your posts here keep at it.

[zlabis]

Wed. Jan 21, 2015

Screen time LO-session 09:00 - 11:00 (GMT+1) M1/M5 DAX only.

Finally today I managed time for uninterrupted 2 hrs screen time. And it payed off )

DAX started to move at LO nicely. Right at LO there was a down fruit with good angulation which was clear to me to take as entry signal. At my 2-hrs trading time, market gave us good opportunities and signals to catch all the impulsive parts of the waves 1 to wave 5. Even wave 4 was tradeable with good entry and exit signals.

Today trading was much clearer than yesterday's LO session and therefor I was able to bank a nice amount of Pips but I have to admit that, although exit rules are crystal-clear, I often feel the urge to close trades based on protective emotions. It was extremly difficult to stay in the trade at 9:32 strong bullish candle.

Another point is that I have to be completely focused when trading M1. It's very fast and decissions have to be made very quickly. For me, as rather inexperienced trader, I have to block distractions, so please excuse me, if I don't replay on Skype immediatly.


Today's result:
+ 56 + 12 - 7 + 52 = + 113 Pips

[immy]

You're trading like a dream come true matey.... its just fantastic... I wish all the aims ters switch to this style and make a killing! well done...keep it up...