David's journal

[immy]

May I suggest something!

Just trade Seeds or Just trade Fruit and Classic! Seed is a great and powerful technique but it does not fit well with this already very powerful and successful fruit strategy. but if you disagree with me, its fine. Keep going buddy!

[azadar]

It is true that im not profitable as a seed trader. On top of that it probably takes away from my concentration trading fruits and classic setups. I removed the seed from my template in order to focus on fruits and classics.

Thanks for the feedback

[azadar]

The trades in the first screenshot were made while I knew I didnt have at least 1 hour of free time. I paid the price because I had to leave during a trade and closed it manually. Stick to the schedule where I know I can trade without being interrupted.

I was having problems with my broker because spread was floating between 0.5 and 3.5 pts while it should be fixed at 1 point. I decided to switch broker while they figure out whats wrong on their end.

Second screenshot was on new broker.

Overall im disapointed with my trading today (-69 pts, DS 11/16). Missed a big move due to lack of confidence and my discipline score is rather low. Tomorrow my focus is on getting a perfect DS.

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[immy]

Too many trades mate too too too many trades... If you can't trade less than reduce trading time. keep going keep going

The goal is to get 1 or 2 good campaigns.

[azadar]

Im happy with the way I traded today (DS 9/10) even though im down -11 pts. The setups just didnt produce big moves, it happens. Only at the end of my session did I start making the mistake of assuming market was in ABC correction while it was actually a 1-2 down. Because I was expecting ABC correction, I didnt see the possibility of 1-2 with wave 3 down coming. From now on, I will just trade the setups and stop filtering signals because I think I know what will happen next. Stay in the now, trade what you see, not what you think will happen. Great lesson learned.

Today 2 SL slipped for a total of 8 points. I will keep an eye on slippage because it can really hurt my results if this keeps happening. This is only my second day trading dax with pepperstone so I will see how it goes.

Tomorrow, I will remain disciplined and will achieve DS above 90%.

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[immy]

David

I noticed two things yesterday. first was that you traded for a very long time and secondly, you made assumptions about future possible moves and got stuck to the bias. e.g. if you look at trade 11, 12, 13 you're determined to take longs but you seem to be not interested in short signals. Even though if you look at hte bars during that period, the down bars are big and the up ones are tiny little ones.

cheers

[azadar]

Yep Immy that is exactly what I was referring to when I said I made the mistake of assuming the market was in ABC correction when it was actually 1-2 down It took me out of the now, out of probabilistic mindset and I could not see the possibility of a 1-2-3 down.

Could not trade today because my son took a sick day. Back tomorrow with focus on 100% DS score.

[azadar]

Could only trade late in the session but that was all that was needed to close the day at +4.3% with DS 1/1 Less is more !

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[immy]

David

That was the hardest part of the wave , that you managed really well. Perhaps because you were fresh and did not lose much of your focus and emotional energy due to earlier price gyration. LESS IS DEFO Mooooooooooooooooooore!

have a good weekend!

[azadar]

Today NEO produced setups but there were many big pullbacks. I Paid many rents and the few setups that worked ended up with BE or tiny profits. After the first screenshot I decided to stop trading and do something else (unfortunately for me I stopped 1 candle away from a big down move).

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After the break I came back to a nice wave 3-4 pattern so I took the setup 2 and aimed for TZ1. It paid off big time as I managed to pay off all the rents I had accumulated earlier in the day. Even though I lost pips overall today, my account is up 0.12% since the late move had small boxes and candles which led to increased lot size while still risking only 1% per trade. My DS score for the day is 8/10 (a bit disappointed about this).

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In hindsight, I should have stopped trading sooner. I took too many rents before calling it quits and it affected my trading (my last 2 trades before the break have DS 0). Taking a break not only gives the mind time to forget about the rents but it also gives time for the market to find a direction.