Nikita`s journal

[Nikita]

Thanks Tomi, but it doesnt work here.

Today again rent. It s harder and harder to stay calm in such situation. Long period of rents tires me..

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13/20 - cherry - GFC ok, M5 ok - DS 1 - rent - "-1%"

Total: "-1%"
DS 1/1

But i see the problem - lack of confidence in system. This week i skipped 2 trades (winning trades) just because of hesitation. All rules were ok, only mind problems..
Today i saw a nice DC after rent - and skipped it. I was afraid of overtrading, but the real reason - i was afraid. I managed to fight with greed but thus i raised maybe scarier monster - fear.
Need to think about it, how to build a strong belief in system. I m using FT2 now, but i faced a lot of technical problems recently, that is why i still cant work properly.

Patient and discipline.

P.S. I m not sure if i use journal according to its intended purpose, cause maybe it should more technically focused, but i had only mental problems now (thanks Immy and aimsters fro help in technical side of trading).

[immy]

I don't trade DC! Never traded it never will trade it! the so called DC is a the Dot Alert. Dot only alerts that price has now closed outside the gator. its simply not enough for me to trade. However, it was based on flow chart so one could do some research and back testing and find out if it does give an edge in the long run. I have not done that and don't intend to do it. but if someone in the forum is willing to use at least 2 years of data and come up with some stats then we might consider it. All the best to those who are using DC. I am sure Grant does not use DC any more. Cherries are doing the job!

[Nikita]

Immy, it is in my plan. And some times ago it was in G plan too.

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14/20 - seed - GFC ok - DS 1 - "+2%"

I really was in the zone while trading today. I decide to trade only with such clear movement. It is not just words - i made i special album of perfect situation to trade in wath it through every day twice - before trading and before going to sleep. I totaly forgot about the strenght of visualision. So now going to brigh that instrument back.
I went through my previous trades, now i`d filter some of the winnings and kept some of the rent.
Lets see how such execersize will help me.

Total: "+2%"
DS 1/1

I m preparing myself to become a fulltime trader, so will pay much more attention to filtering trades and to be in the zone. To wait for perfect situations. Wish me patience and discipline.

[immy]

the best full time traders are actually very part time traders! do be mistaken and take trading for a job! 2 hrs One session! that's all you need. That is full time trading! the rest of the 2 hrs might be spent on recording your trades and meditating and visualizations etc... and the rest of the time must be spent on things that you enjoy in life!

[Nikita]

Hello everyone. Long time no trading for me due to job issues.
I m working on my detailed trading plan.

Can you share your way of calculating your weekly and monthly SL?
Thanks everyone in advance who will take part in my solving my dilemma.

[immy]

Hi

Its not that hard. Monthly Stop Loss would be almost an account stop loss of -30%. But I won't set it more than 15%. If I lost 15% of my account in one month, if I still maintained my sanity I will review the entire process. So Daily Stop Loss of -3% (which is still a lot, i really think it should be 2%) weekly could be 10%. IF you lose 10% of your account in a week and you find that its not you but the strategy, you've got a problem. You must stop analyse the whole situation and if you've remained 90% disciplined then surely you'll have to adjust the strategy which means, come to me!

cheers

[zlabis]

Nikita,
from my point of view, I would highly recommend to follow Immy's advice according to Risk-Management as he has written above. In addition, I think it is a very good approach, as Immy pointed out in Skype room, to have 3 strikes per session. This is great to prevent over- and revange-trading, IMHO.


Cheers
Michael

[Nikita]

Hello everyone.
Long time since my last post here. I ve spent many days wondering what strategy fits me more: H1 seed or m1. Than a lot of happened at work, so H1 will be my option.

TF: H1
Open trades: After FO. take seed buy, if appers above LO, for sell - if lower than FO. Cancel seed if nothing happens next hour.
SL, TP: 1 trade - TP 1:1, 2nd trade - TP 1:5. If seed is less than 9 pips - TP 1:10.
Trading hours: 7 hrs after FO. 
Filter: seed size less 15 pips.
MM: every trade is 1%

Important notes: 
a) never take 2nd seed, if 1st is not free trade.
b) there are no 'counter trade' seeds, every trade is a different story. So if i m Long, and short signal appers - i take it according to rules.
c) If it is a Free trade, move SL no erlier than 2 days.
d) i dont take trades if seed is on the line of FO ( could cancel this rule later, nowdays i cant decide how to manage it)
 
 
 
 

[Nikita]

Trade 1/20 
UJ seed. Within few hours it was rent.

Seed 13 pips. Above FO.

Result: - 2%
Result of 1/20: - 2%
 

[Nikita]

Hello everyone. 
Had some technical problems with forum section, so showing away a couples of trades. 
Unfortunately, all were rent.

UJ 
Trades 2/20 and 3/20
Result both: -2%
Result of 3/20: -6%

All trades were made according to plan: side, time, size. 

 UPD: Seed #3 should ve been cancelled, but due to work issues, was afk.