Stephen's Journal

[immy]

That's the way forward...

We don't trade unless and until it offers trading opportunities based on our trading plan

Have a great weekend

[luxinterior]

Another quiet trading session yesterday with price being range-bound for the first hour or so. It started to break to the upside but was moving slowly and I didn't see any valid setup 1's before I stopped trading for the day.

@Immy, thanks for your comments and words of encouragement. Have a great weekend too!

S

[luxinterior]

1. Trade Number: B1-T4
2. Date/Time: 2020/5/28 NYO
3. Symbol/TF: DAX M1
4. Signal Type / Direction : Setup 1 BUY
5. Comments and Feelings at the Time of Taking The Trade: Wasn't the prettiest setup but it fulfilled all the criteria so I went with it. Was VERY calm.
6. Comments and Trades After Exiting the Trade: Worked out well. Calmly watched the trade unfold and moved to BE when appropriate. When price closed below the green line I was happy to exit at 2R.
7. DS For this Trade: 1
8. DS Running Total: 3 / 4 (75%)

2020-05-28_2111.png

[luxinterior]

1. Trade Number: B1-T5
2. Date/Time: 2020/5/29 NYO (-1)
3. Symbol/TF: DAX M1
4. Signal Type / Direction : Setup 1 BUY
5. Comments and Feelings at the Time of Taking The Trade: I noticed the highs to the left but went with it anyway.
6. Comments and Trades After Exiting the Trade: Closed on cross back over the green for a small loss. I think I followed the rules OK but maybe should have been a bit wary because of the highs to the left and the fact that the market wasn't moving too fast.
7. DS For this Trade: 1
8. DS Running Total: 4 / 5 (80%)

2020-05-29_1952.png

[luxinterior]

1. Trade Number: B1-T6
2. Date/Time: 2020/6/1 LO
3. Symbol/TF: DAX M1
4. Signal Type / Direction : Seed SELL
5. Comments and Feelings at the Time of Taking The Trade: Observed a range on M5 so I was just waiting for a breakout and retrace. Got a seed just on the break and considering the price had shown signs of collapsing I went for it. We'd also reached the ADR for the day so a short looked like a good bet.
6. Comments and Trades After Exiting the Trade: I watched it for about 5 minutes and didn't like the action so when it looked like it was going to cross the green, I bailed with -0.5R. Then there was another seed and I was debating whether I should jump back in when... BOOM! - I don't feel bad about missing out on the move and would rather focus on the fact that I think I read it right but bailed a fraction too early. Should have had more faith. On to the next one!
7. DS For this Trade: 0
8. DS Running Total: 4 / 6 (66%)

2020-06-01_1616-seed-early-exit.png

[luxinterior]

1. Trade Number: B1-T7
2. Date/Time: 2020/6/2 LO
3. Symbol/TF: DAX M1
4. Signal Type / Direction : Set up 2 BUY
5. Comments and Feelings at the Time of Taking The Trade: Market wasn't too volatile but there was a wave 3 and a pullback to a wave 4. Saw the setup 2 before it formed and was waiting to pounce. I was willing to bale quickly if it didn't follow through.
6. Comments and Trades After Exiting the Trade: Price moved slowly and was hitting resistance at recent M5 high so on the first rejection candle, I closed for 1R. Need to have faith in the close by a cross of green and STOP closing early. MUST add this to my trading plan.
7. DS For this Trade: 1
8. DS Running Total: 5 / 7 (71%)

2020-06-02_1614-1R.png

[luxinterior]

1. Trade Number: B1-T8
2. Date/Time: 2020/6/3 LO
3. Symbol/TF: DAX M1
4. Signal Type / Direction : Set up 1 BUY
5. Comments and Feelings at the Time of Taking The Trade: W3 had happened and pulled back into W4, so I was waiting for a setup. It was quite a deep pullback but it hit a decent support area as observed on M5. There was a Cherry on M5 that gave me more confidence and when the blue dot appeared I waited to see what price would do. When it showed signs of strength, I entered a MO.
6. Comments and Trades After Exiting the Trade: I was in two minds about exiting at TZ1 or black dot. I chose BD in the end but not sure if this should be a hard and fast rule. 'Exit at TZ1 for W5 but use BD for W3'. Not sure at the moment.
7. DS For this Trade: 1
8. DS Running Total: 6 / 8 (75%)

2020-06-03_1641.png

[immy]

1. Trade Number: B1-T6
2. Date/Time: 2020/6/1 LO
3. Symbol/TF: DAX M1
4. Signal Type / Direction : Seed SELL
5. Comments and Feelings at the Time of Taking The Trade: Observed a range on M5 so I was just waiting for a breakout and retrace. Got a seed just on the break and considering the price had shown signs of collapsing I went for it. We'd also reached the ADR for the day so a short looked like a good bet.
6. Comments and Trades After Exiting the Trade: I watched it for about 5 minutes and didn't like the action so when it looked like it was going to cross the green, I bailed with -0.5R. Then there was another seed and I was debating whether I should jump back in when... BOOM! - I don't feel bad about missing out on the move and would rather focus on the fact that I think I read it right but bailed a fraction too early. Should have had more faith. On to the next one!
7. DS For this Trade: 1
8. DS Running Total: 5 / 6 (83.3%)


2020-06-01_1616-seed-early-exit.png

I will give you a DS0. Plain and simple Hunt Trade management Rules. -1R BE or 2R... no other alternative... except ... 3R 5R ... later stages.. imho