Tom's T20 Journal

[tombacon89]

9TH JUNE 2022 LO - DAXDAX M1

Pre Session Questions: Have you done your pre-session routine and read the rules? I visualised them through them in my head. 

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

Not this morning. 

B) Have you identified and plotted the relevant range levels from H1 down? Yes - H1 LO candle is a bullish trend candle. H1 is short bias but losing momentum into a bear channel. Approaching support zone. So, could see support and m1 long setups, it may be messy sideways, or it may continue short with the bias. Who knows…. trade the setup!


 9TH JUNE DAX LO FILTER.png9th june dax filtered seeds.png
Immy, please could you advise the screenshot below on 'what is counter trend etc' I think once I properly understand this, then I will be able to confidently filter and not over trade these types of setups. 

My thoughts are:

1, does HTF say direction of h1 or m5 have any bias?
2, is there any specific rule, ie must break a higher high or lower low to qualify etc.help please immy counter trend rules.png
 
 
 more to follow....
 
 
 
 
 
 



 

Very simple

Is there an impulse move? What is the direction of the impulse move? that is what you should follow. Are you considering the pullback an impulse ? hmmmm 

If you see an impulse wave for your signal but there is a larger impulse against it... which one do you trust? 

 

 

 Are you considering the pullback an impulse ?

Yes.... i think that is exactly what I am doing..........
 

[immy]

9TH JUNE 2022 LO - DAXDAX M1

Pr

 

 Are you considering the pullback an impulse ?

Yes.... i think that is exactly what I am doing..........
 

 

If you consider it that's ok but if you do it while its just pulling back, then it could be problematic. 

If you do it based on some context then it would make sense. On m1, just stick to TREND Trading. Put 50ema on and don't trade against it. 

OR 

Ask this, are you trading a reversal? IF yes, why is that so? why is this market going to reverse? has it moved too far to ofast? has to hit some important levels to the left? has it hit S/R of the Trading range of a higher time frame? etc etc.

or 

Do I actually take a reversal signal? do I? (do you?) 

[immy]

I think it would be best for you to Start at Setup 1. You are missing an important understanding of the pattern. 

You can't just go long and short whenever you like. 

Everything has to be part of the structure. 

Go back to setup 1, do around 5 batches , then at stage 2, add banana to the Setup 1 template do another 5 batches 

Then you can eliminate the indicators if you like

It will be mighty good for you 


 

PS: when there is major news pending it's best to wait it out unless the market breaks out into a clear trend and you can see volatility and momentum. NEws such as interest rate decisions are even more important during these economic conditions. Inflation is high so the banks are prone to increase the interest rate to control inflation. Any unexpected event will shake the market. 

pps: Restrict yourself to one or two types of setups within a certain market context. 

e.g. my favourite is TTR Breakout and Signal. Wait for TIGHT trading Ranges (setup 1)... then wait for that break and retest... if it does not retest immediately, see if it does that after 2-3 trend candles... that's it. tha'ts the setup... Feck these damn reversals. 

[immy]

[tombacon89]

 

 
 
 this is what I needed. thank you.

I note your comments about setup one... I hear you, but, I am going to keep trucking along. I will only now trade in the direction of the HTF; and when life is fuzzy I will wait for the break of the m5 range. 

I appreciate your comments and feedback. 

[tombacon89]

LO DAX 10TH JUNE 2022  DAX M1

Pre Session Questions: Have you done your pre-session routine and read the rules? I visualised them through them in my head. I have watched immys video which was a great explanation of where I have been going wrong recently. Thankyou immy.

I have made the decision to add the ewaves back in... just to keep me more in line with the overall trend and try combat those bigger pullbacks/impulse move pullback habits. 
A)Is there any red news to be aware of?

Not this morning. 
B) Have you identified and plotted the relevant range levels from H1 down? Yes H1 is bearish, it has been bearish for a few days. It is starting to lose momentum and go sideways.

M5 levels are marked, as are M1 levels. But I am paying attention to m5 levels more.




 

DAX 10TH JUNE OPEN FILTERED.png

 

DAX 10TH WAIT FOR S1 entry.png

 

important level.png

 

no signal on the seed.png

 

Divergence.png

 

THE AHA OF PLOTTING HIGHS AND LOWS.png

 
 I added the box following that aha thoughts... it will ALWAYS be there then, so I cannot forget. 

BATCH 1 TRADE 6 AND 7.png

 
 

box added.png

TODAY WAS A GOOD DAY.

I THINK I NEEDED THIS LEARNING WEEK TO HAPPEN.


 
 
 
 
 
 
 

[tombacon89]

DAX LO 13TH JUNE

NO RED NEWS

HAPPY WHEN I SIT DOWN TO TRADE.

Pre-analysis is QUICK. Literally 2 mins before the session, I do not feel the need to be here 20mins or so before and kick the arse out of it... all i need to know is.... is the htf up or down? what is relevant on M5/M1. Then we open...

This is how I saw the pre-session and open.

H4 good for a pull back. bias short.png

 H4 climactic so may see long moves.

H1 short bias, mini range.png

 

H1 possible micro DB for a long.png

 H1 losign momentum but bias is short. In a tiny range

M5 rangebound, w5 has happened. wait for breakout.png

 H1 tiny range means m5 is defo in a range.

M1 tall trading range.png

 

M1 TC.png

 Now we wait....
 

M5 resistance for short.png

 Trade 8 - was valid, but not the best. one impulse candle to break the range and then the retest of the key level. Not the best impulse move. I know before taking this that it is back inside the pre-session range. However, the open brought momentum. It went long, could not sustain the long and quickly came back short in line with the htfs. I am happy with my decision. 
 

BATCH 1 TRADE 8.png

 Trade 9 - DS1. Calc risk. Aware of levels on HTF. Took the trade. 2r
 

BATCH 1 TRADE 10.png

 The profit from trade 9 played a part in this one... i got sucked in to trade 10. It was incorrect. NO NEW IMPULSE MOVE. My profit move from trade 9 was simply, messy. It never smashed through my TP. It was a trade based on feeling like that level was going to be smashed. Anyway... I made a mistake, i realised my mistake. I let it play out and that is it. I've accepted it. NEXT. 
 
 I am done now. I walk away feeling neutral. I feel I have learned something again today.
 
 

[tombacon89]

Late entry on these trades.

BATCH 1 TRADE 10.png

 

BATCH 1TRADE 11 AND 12.png

 

[tombacon89]

DAX LO

BATCH 1 TRADE 13 14 15 16 17.png

 A picture speaks a thousand words...

I KNOW my first trade, the seed, is not as per my trading plan so it is DS0. Everything was telling me to short dax this morning. There was a signal and I took the break of the lows, not the seed low. Sold the swing. it had to break the lows. This was a breakout trade, NOT a bannana trade. I know this is incorrect. I had a target and I went for it. 

The other trades are pretty simple.

Trade 17, counter trend. I know it is counter trend. It was a lower probability trade, it was the w4 corrective wave whatever people choose to call it; it was into 50ema, i know that without having the 50 on the chart. but easy to take when sat on profits so I will not beat up over it. 

Overall a good day. 

As I am writing this... dax just produces a lovely 3r winner. But, I did not take it as I have had 2 rents today. 

It is funny how a few wins in a row makes you feel this is all worth it.

As i was leaving, i got this message. Maybe I am due an update...


 

error.png

 
 
 

[immy]

Update the fecking thing