Ioannis's journal

[johndata]

1. Trade Number: Batch 1 - Trade 5
2. Date/Time: 14/5/2020 -9.37
3. Symbol/TF: US30-1min
4. Signal Type / Direction : Setup 1 Sell
5. Comments and Feelings at the Time of Taking The Trade : Didn't like very much as price moved a lot. Ewaves is high. Gator not too sleepy
6.Comments and Trades After Exiting the Trade : I want to stay disciplined, as that it my major problem. Never mind the small loss. Only SETUP 1. Don't force the trades!!!
7. DS For this Trade: 1
8. DS Running Total: 5 / 5 (100% )
Comment : Very nice setup 1(with all the rules) at 8:25

2020-05-14_9-54-06.png

[johndata]

1. Trade Number: Batch 1 - Trade 6
2. Date/Time: 14/5/2020 -11.33
3. Symbol/TF: DAX-1min
4. Signal Type / Direction : Setup 1 Sell
5. Comments and Feelings at the Time of Taking The Trade : Perfect Setup 1. You have to take it although the previous loss.
6.Comments and Trades After Exiting the Trade : I want to stay disciplined, as that it my major problem. Only SETUP 1. Only perfect looking Setups 1
7. DS For this Trade: 1
8. DS Running Total: 6 / 6 (100% )

2020-05-14_11-48-36.png

[luxinterior]

I looked at that trade too and decided to pass. The red dot was too far away for me but I was not 100% sure if I made the right decision, so I asked Immy, and received a metaphorical tongue lashing.

https://itradeaims.net/forum/viewtopic. ... 877#p32877

Take a look at the entry in my journal to see what he had to say about it and you can look at the 3 videos about setup 1 and/or read the '3 Rules Setup Flow Chart' pdf, to discover why it wasn't actually a setup 1.

I hope that helps.

S

[johndata]

Immy is right, there isn't a red dot. So it isn't a DS1, although as he wrote it's a perfect setup 1. As you can see in your chart if the previous bar had closed 0.5-1 pips lower, we should have a red dot.

Thanks

[johndata]

1. Trade Number: Batch 1 - Trade 7
2. Date/Time: 15/5/2020 -14.35
3. Symbol/TF: DAX-1min
4. Signal Type / Direction : Setup 1 Sell
5. Comments and Feelings at the Time of Taking The Trade : Nice setup 1. Price broke a clean tredline. Pin bars at 5 min chart. So i had to wait the 5 min bar to close red and i entered late
6.Comments and Trades After Exiting the Trade : Although it is a DS0 as i entered manually, i think it was a right desicion. Anyway next trade
7. DS For this Trade: 0
8. DS Running Total: 6 / 7 (100% )

Comment : The setups1 are easy to identify and Dax30, US30 and Nasdaq give every day(and night) many clear setups1 at 1min timeframe. In the past i lost several setups1 at bigger timeframes, as i had to watch them for hours and i hadn't patience. But the 1min timeframe it's perfect for me(till now). Also I just finished the 6-7 hours video series : Mark Douglas How to think like a professional trader.(thanks Immy for that videos). Now i understand better the role of batches and the game of probabilities which is trading.

2020-05-15_15-12-10.png

[luxinterior]

I saw that too but again, I didn't take it because it didn't look valid to me.

Unlike yesterday though, I actually know why it's not a valid setup and why I didn't take it.

I'm sure Immy will comment but if not, the answer as to why it's not a valid setup1 is in the flowchart pdf.

I hope that helps.

S

[johndata]

Stephen,

I agree with you although I gave DS0 for different reason.
I was away all day at work and when i sat in front of my computer, i saw it and i saw a very good setup1 :

a )there is trend at 5 min chart(MUST).
b) no divergence at 5 min chart(also first dark bars),
c) nice trend at 1 min chart(push)(MUST),
d) green bars at ewaves, (pull) (this is also a MUST for that batch to me)
e) nice position for purple
f) small box(also a MUST, trade gave 2R easily).
g) waves 3 and 4, 75 bars
The only problem to that trade is the absence of RED DOT

e.g. Go and see Nasdaq(perfect also setup1 missing a green bar ewaves) and US30(ugly setup1 as box is huge), exactly the same time. I use to compare the setups1 between those indices as there is a huge correlation between them and i learn a lot of that.

Thanks for your comments. I "ll begin to give feedback to some of your trades and i hope to help each other to be better and consistent traders.

[luxinterior]

I'm not questioning whether the trade was good or bad but the fact is it wasn't a setup 1, no matter how you dress it up.

Just like the trade before wasn't a setup 1 and the fact that it worked out in your favor is irrelevant.

The whole point of doing Batch 1 and taking setup 1 trades EXACTLY as they should be taken, is to instill discipline. We can all start interpreting price action as we see fit but then we're just making the same mistakes we made in the past. At least that's the way I see it.

What's the point in having a well-defined set of rules if you're just going to bend and break them when it suits?

I'm happy to sit on my hands and only take setup 1 trades when they happen as per the rules. If that means I have to wait a few days, I'm fine with that. It'll prove to me that I do have the discipline that I think I have, and then I'll progress from there. I'm sure I'll still make a few mistakes when taking a trade I think it is a setup 1 but hopefully, that's when Immy and/or others will step in and let me know what I missed.

If you do see a post I make in my journal showing a trade I believe is a setup 1 and am wrong, then please, by all means, let me know. But I'd also ask that you point out exactly how it doesn't comport with the rules as they are written.

DS is based on whether you followed the rules to the letter or not. It has nothing to do with whether the trade turned out to be profitable.

You do understand that, right?

Steve

[johndata]

I agree with everything you wrote Steve

[johndata]

1. Trade Number: Batch 1 - Trade 8
2. Date/Time: 20/5/2020 -10.55
3. Symbol/TF: DAX-1min
4. Signal Type / Direction : Setup 1 Sell
5. Comments and Feelings at the Time of Taking The Trade : Seems a nice setup 1. I have to take it.
6.Comments and Trades After Exiting the Trade : Next trade. Concentrate on discipline!!!
7. DS For this Trade: 1
8. DS Running Total: 7 / 8

2020-05-20_11-16-49.png