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little bit stressful day filled up with (forgotten!!!) FOMC while "trading" on CL. I am not able to reload data to show my chart on CL, but it was very clear and fast 3x loss.
On YM I did couple trades too, but there was no solid move to stay till end of session.
Trades
YM
nr.4 bounce from open price, didnt work full stop loss
nr.5 I tried another move up, at the begining I was ready to move quickly stop according plan, but it was not necessary.
nr.6 market was ranging and I went in again, but 1 tick missed to PT
nr.7 not good idea to jump in, I just didnt scratch this trade
I have been just couple minutes able to trade, but there was more than enough occasions.
Trades
nr.1 setup was according to a plan, exit on moved sl. , couple ticks left to PT
nr.2 too soon jumped in, too fast out , patience, patience, thats what I miss
nr.3 finally I got strong setup also on higher TF ( move down supported with bounce from EMA50) and I reached a PT.
nice moves, rally as in Monte Carlo...just without navigator . Thats how I see market today.
It is maybe because of I am little bit tired (2 days without sleeping ) and all moves seemed to me quite fast .
Ok, lets say, that I should quit earlier with nice profit, but I was very greedy and finished on 0, yes big rounded zero!
I am very sorry, but I dont have today mood to anatomize each trade. I will try to return back on sunday with it.
I have one BIG thank you for Jinhar, you kicked me in right way, it is still not visible on my results, but I hope,
that I will break "the spell" very soon and I will work on my profit-target-be-happy-strategy-... .
R.
p.s. on chart are missing 2 last trades, if I would shrink the chart, it would be completely useless
It will take some time to get used to higher time frame but once you do you will automatically realize the power of it ... i have also marked some setups on crude and posted on my thread .. hope that also helps . Again i am happy to see you take steps in right direction and soon you will see it in your trading .. have a nice weekend...
When I was on the way home from work, I stopped to take a fuel..when I saw the price per liter I was little bit surprised. I just said to myself "fine,
you want more money from me, but I will take it back " . Guess, how this finished. I took more, than I put into my car , fair enough.
Now I am thinking, that I could buy rather some hungry V8 to replace my modest diesel, it would be more motivating.
When I saw the chart, I was quite scared. So strong uptrend, will I have an opportunity to jump in?
More than enough, I was trying to pick up the best places for trades, but I wasnt 100% successful.
Trades:
nr.1 bounce from demand area, didnt work
nr.2 this was on the basis of crossing price EMA50 on higher tf, I jumped in when signal appeared.
nr.3-4 it was bounce of price on higher tf from EMA50, I did everything according to a plan, but market moved up without me
nr.5 last occasion, which brought me for another PT.
I am going to show you summary of all trades(CL) in january, there are not commission which I would count around 5$ per trade.
This mean 0$ profit in january. I reached lot of new experiences, especially on CL market, which is completely new for me.
I have couple comments, but I need to rewrite it from paper first . I would like to share it with you, so tommorow it will be here, but its not any extra new, just my notes...
Then, I wanted to change my style of trading, but I will not. I will change couple things, but I fell in love to trade with trend,
I am going to gently edit my view on markets, timing of entries, but that would be all.
- adapting to a new market (CL)
- using multiple tf charts (3RB, 6RB and last couple days 12RB)
- implementation of rules for trading in trend/range market
- I achieved more than one PT in a day!
- leading regular statistics in excel, one_note (it helps me to be more careful)
- found way how to be more focused during trading ( shorter time - 1 hour for CL, sometimes more than enough )
- interpretation of trend in market ( believe or not, it was very confusing times for me without this knowledge)
negative
- partly breaking of my plan ( nr. of losses over daily limit, countertrend trading)
- no ritual before trading, I am doing couple things before I jump in, but there is not checking important reports, I forget very often to review process of market from previous hours, I dont mark important demand/supply zones, etc.
- I dont have realistic daily goals, to trade only 1 hour should be fine, but now I know, that I could find some profit target ( I did )
- for me it is not working : more trades = more money
- too many trades in a row with same mistakes
- entering market after huge move, hoping that it will move again
- when I got feeling, that market is too lazy, I relax and in second market jump into the big move and I miss my entry
- no profit at the end of month!!!
If you have any comments, you are welcome. I like myself too much and it could happen, that I missed something really important. I hope , that I will be able to move this month forward.
with new month I am bringing couple news, changes..
- I realized, that I would be very happy if I finish every day above zero, but it will not make me "rich" , so I aimed to a daily profit target, which will be same as a disaster day in opposite result: 240$ / 3x full loss -240$. After this target I stop trading.
- next change is using more higher tf to avoid milion signals in 1 hour of trading, I will try to explain it in next days
- I am going to be profitable
trades for today
nr.1 confirmed downtrend on higher tf, 7 seconds long trade
nr.2 bounce from EMA50, market turned after 2/3 move to PT. I was happy for my quick reactions with moving sl.
nr.3 same as nr.2 , but it worked better
I hit my daily goal after these 3 trades. I am very interested in my behaviour during less trending days..
hello traders,
I have been fighting like a tiger today, but it wasnt too much effective.
I missed one juicy trade on the beginning - too much thinking, no action. Then I was chasing market till last minute...
nr.1 this entry was not good idea, I was angry because of missed first trade, emotions appearing
nr.2 another occasion, but I moved my sl more than I was supposed to do, it would be PT, anger rising
nr.3 yes, I did it! entry signal supported on higher tf with price bounce from EMA50
nr.4 I am hunting ticks, I just saw couple tops, which looked like a "good" resistance, so why not to jump in... I am going to punish myself for such a trades
nr.5 very difficult entry, on RB6 downtrend, but on RB12 I was exactly on EMA50, exit on moved sl.
I was very close to my daily goal, but I failed..positive is, that I didnt loose too much with so many trades.
