Darren's New Journal

[Darren]

After discussions with Immy I have decided to start a new journal and post all of my trades, win, lose or draw!

Here is my basic trading plan:

1. I will trade DAX, NAS, USDJPY, GBPUSD and EURUSD. 
2. I am trading the Banana signals.
3. I am trading the M15 timeframe. I will look for a Trending Candle on H1 then look for a banana signal.
4. If there is a trading range, I will mark levels and wait for a breakout and retest/pullback.
5. The signal candle must have a high or low outside the trading range.
6. The signal candle must be smaller than the trend candles.
7. THERE HAS TO BE MOMENTUM IN THE MARKET.
8. I will take the first 2 pullbacks unless I have made a profit already and I will then keep taking pullbacks until there is a loss.
9. I will risk 1% per trade and move SL to BE at 1:1 or at an obvious level.
10. I will take profit at 3R unless the move is obviously strong, in which case I will have a TP at an obvious price level.
11. I will use the Banana indicator and only place a trade if there is a signal.
12. If I have three losers in a session I will check that they are correct setups and wait until the next session to trade again. I have chosen three as one winner will bring me back to BE.
13. I will keep a spreadsheet detailing each trade along with a screenshot of the chart. 

 
 
 
 
 
 
 
 
 

[immy]

Hi Darren, a great step towards consistently profitable trading.

I have suggestions

Do Stage 1: Become Mechanical AF.
SL -1R
TP 2R
SL to BE at 1R.

Take Discretion out of trade management.
You only have one discretion: that is to follow your trade plan and set that pending order (no market orders). Once the trade is in, you walk away.

Do this for the next 20x2 trades. Then we can talk about taking discretion with exits.

Cheers

[Darren]

Sounds like a plan - thanks! 
 
 

[Darren]

One trade so far this week - ended up BE.

 
 

[immy]

One trade so far this week - ended up BE.

 
 

 

A great trade. Well done. 
 

[Darren]

I haven't been posting my trades for various reasons, but I hope to post them consistently from now on. I am sure this will help my results!

1. Trade Number: B1-T1 
2. Date: 7/3
3. Symbol/TF: Dax M1
4. Signal Type / Direction : Sell 1
5. Comments and Feelings at the Time of Taking The Trade: I'm feeling a bit nervous as it's the first trade that I am posting in my journal, but I know if I take the correct setups I will be profitable overall.
 

2022-03-08_11-15-24.png

 
6.Post Trade Questions: 
a) It looked like a good setup but momentum had slowed a bit. 
b) I was taken out very quickly, which was frustrating and put me off taking the following '2' signal which would have been a 3R. 

7. DS For this Trade: 1
8. DS Running Total: 1 / 1 (100% )
 
 
 
 

[Darren]

1. Trade Number: B1-T2
2. Date: 10/3
3. Symbol/TF: NAS M1
4. Signal Type / Direction : Sell Seed
5. Comments and Feelings at the Time of Taking The Trade: It looked like a good setup so was hopeful.
 

2022-03-10_18-51-35.png

 
 
6.Post Trade Questions: 
a) It moved to 1R so moved to BE, but I was quickly taken out. Shame as it turned into a 3R. 

7. DS For this Trade: 1
8. DS Running Total: 2 / 2 (100% )
 
 
 

[Darren]

 Trade Number: B1-T3
2. Date: 14/3
3. Symbol/TF: Dax M1
4. Signal Type / Direction : Sell Seed
5. Comments and Feelings at the Time of Taking The Trade: It was a risky buy as it was in a range. I saw a bit of momentum then a break and re-test but it didn't carry on.

 

2022-03-14_11-32-11.png

 
 
6.Post Trade Questions: 
a) Looking at the trade in hindsight it doesn't look great. The market then broke lower with momentum.

7. DS For this Trade: 1
8. DS Running Total: 3 / 3 (100% )
 

[Darren]

 Trade Number: B1-T4
2. Date: 14/3
3. Symbol/TF: Nas M1
4. Signal Type / Direction : Sell 3
5. Comments and Feelings at the Time of Taking The Trade: I saw a bit of momentum and a break and retest. 

 

2022-03-14_14-45-09.png

 

 
 
6.Post Trade Questions: 
a) This was a bad trade as M5 was in a Range.

7. DS For this Trade: 0
8. DS Running Total: 3 / 4 (75% )
 

[Darren]

Trade Number: B1-T5
2. Date: 14/3
3. Symbol/TF: US30 M1
4. Signal Type / Direction : Buy seed
5. Comments and Feelings at the Time of Taking The Trade: I felt confident in this trade. M5 was broken and it stayed just above resistance turned support. Just didn't work out. 

2022-03-14_14-59-57.png

 
 

 
 
6.Post Trade Questions: 
a) Just didn't work out!

7. DS For this Trade: 1
8. DS Running Total: 4 / 5 (80% )