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Yday was perfect day. I look and draw and not trade! And prepare same solution for next week. I will be better then before!
Major info
1. G20 main political meetengs during this time
2. Main focus on US-Chna deal
3. Pre market status: Neutral
Pre market plan
Description: From last info Trump and Xi meeting tommorow and today i don`t wait same strong day
Scenario1: Same sideway move around yday low and 6950, but can be with less volatility
Scenario2: Market will be don`t want play with risk and close same profit position from this week.
After a few terrible days with losses (-700$:-800$) I stopped and realized that I need to take a break and look at the problems that I have in trading.
Since trading is associated with risks and losing days will always be and this is normal, but every time I have a losing day always goes beyond my day loss (-450$) and this is a problem. I worked all the latest statistics for 6 months and found out that big loss-making days are always very volatile and I do these days for 6-10 trades!
Given the facts that there are no problems with the trading strategy and all work with it is moving systematically towards improvement, then the problem is in risk management.
Two major issues in my current trading: 1. I do not control my risks and my day loss rule is never fulfilled. 2. My trading is volatile!
After reading some interesting books on psychology (for example: David Rok-Your Brain at work and etc.) I understand that some bugs are in the field of normal human psychology to work on them is very difficult and much more effective to develop rules that would the situation have not reached the point poyavlenie these errors.
The essence of my problem: When reaching a loss of (-450$), I usually already make 5-6 trades. After completing 5-6 bad trades my emotional level goes beyond the controlled and I continue to make stupid trades to achieve large losses (-800$). Accordingly, achieving high emotional stress, I can't say to yourself "today stop".
Solution: Focus not on money, focus on the quality and quantity of trades. Risk management rules: 1. After 3 executed trades pause and look the result of executed trades in money (Rithmic Pro). If the loss exceeds (-250$) then all stop trading and close the working terminal. 2. Maximum 4 trades per day and all stop trading and close the working terminal!
Example:
Description: Main idea this is picture and my logic about emotinal spiral it that each next stupid trade add much more negative emotion then previus.
Major info
Market: Big gap after G20 meting and Trump with Xi has meeting BUT no result at all and only pause. From my side it not good!
Trading:
1. Today iam not trade and look on 7100 area for future.
2. I must focus not on day PNL, i must focus on weekly PNL
Pre market plan
Description: Main area for today it 7100
Sceanrio1: Same sideway day around 7050-7130. At this situation for me important where we close this day;
Sceanrio2: Same impulse up and after slow slow go down. Also important how we close open price.
Scenario3: Buyers too strong and will be hold price above 7100.
Market recap
Day comment
Market: Sellers show perfect resistance on my 7100 level with tick by tick move! Perfect!
At the end of day same buyers push back price.
Market view
Description. Tommorow i will be look VAL and VAH area
Hello,
I don`t now why and for what, same one paid for my Elite member ticket. But any way thank you very much!
Answer on this post and when i visit US from my side will be Whiskey
Major info
1. Today first day with my new Risk managment "3+1"!
2. Focus on quality!
3. Pre-market status: Negative
Pre market plan
Description: Main thing what price now under 7100 level and now main task find good point to short BUT VPOC area from yday it red line for short! Wait good moment!
Sceanario1: Price test test yday VPOC area and find strong seller with strong sell delta;
Scenario2: Market will be ready to sell from start. Wiat good moment with PB to delta area or trading zone;
Sceanrio3: Buyers push price higher then 7050 and try to hold above. Look 7080-7100 area.
Market recap
Day comment
Market: Perfect sell off on Trump twit about deal with China.
Trading: Perfect discipline day! Discipline and Risk-managment "3+1" must be like good habbit!
Market view
Description: Good sell off day. No more, no less.
Market context
Description: NQ was better then ES during first hour and after Trump twit strong go down with other market. And during my trading time i don`t see clear picture for future and close terminal.
Trading stat PNL: 82$
Win ratio: 100%
Risk/reward: 0,68
Playbook ratio: 100%
Description: I don`t have same clear picture and don`t jump to same stupid trade! Good!
Major info
1. Second strong gap from October! Very dangerous day for market today
2. Focus on quality! and don`t trade first 40 min.
3. Pre market status: Strong negative
Pre-market plan
Description: I hope on postive and market find same buyers! But it day X for market for me, if we close like scenario2 it can be free fall in future.
Scenario1: Price fall to same potential support around 6580 and after strong strong go UP. It must be same strong strong positive delta.
Scenario2: Fall down scenario. This is sceanrio prior if i don`t see same strong positive delta point
Sceanrio3: It same sideway sceanrio with low volatility then scenario1
Market recap
Day comment
Market: Good buy back day! NQ was much stronger then ES.
Trading: Good low volatility day! Work continue with same rule!
Market view
Description: Buyers try to take control and ready to buy from this level.
Market recap
Description: It was no any same strong sell signal.
Trading stat PNL: 218$
Win ratio: 50%
Risk/reward: 2,67
Playbook: 100%
Description: Good low volatility day
Additional idea
That is example can not be like sell/buy signal BUT can be like Alert. And i must test this signal next time
Description: This is situation must be look like reverse, any way look and test in future.
Today I don`t trade and will be out of office during this weekend.
Main facts:
1. During this week I trade only two days. But it was good low volatility trading week! Perfect! Continue work in this direction.
2. Iam not use my risk managment rule "3+1", but i now what my worst day will be maximum -380$ and it give me more emotinal power))
3. If market volatility more then 22-23, find a trade too dificult with my stop -12 ticks. Today (Friday) volatility was 26 and I don`t trade! It also right way!
4. Summery: Same short rule and plan give good opportunities for take profit market!
5. Weekly trading stat PNL: 290$
Win ratio: 67%
Risk/reward: 1,66
Playbook ratio: 100%
Yday I not trade and do same enother work for be better!)
Major info
1. Volatility 23 and it too much! Don`t trade first 40-60 min.
2. Too strong pre market delta +5k! I never see before.
3. Pre market status: Strong positive
Pre market plan
Description: Strong pre market and wait good signal to buy
Sceanrio1: After strong pre market I wait same PB to 6750 area. And look same strong buy impulse with strong buy delta.
Sceanrio2: Market will be too strong and opne in sideway move. After false breakout open range price do same strong impulse to high!
Sceanrio3: After open price hit November VPOC area and find same strong sellers (may be with same bad news). In this case i will be look same strong sell delta with big unuasual orders.
Market comment and main idea
1. One of my main rule it don`t trade during rollover. It correct becouse Order Flow work very bad.
2. At Tuesday i was done three trades and stop on pause like in my Risk Managment scenario. Perfect! after pause iam concentrate on opportunities becouse understnad what i have only one trade and this is trade must be 100% right or i will be have day loss. After this situation I understnad what Risk Managment based on quantity for me is much better way than on loss in money.
3. Next week must be very careful and I must work with my Trading Zone, Pettern and new Risk Managment model.
Major info
1. Friday was good and correct on Order Flow sell off. Today continue or take a pause?
2. Pre market status - Neutral
Pre market plan
Description: Two main thing for today! 1. Key price 6580 and how price will be work with gap.
Sceanario1: Iam always have first scenario is positive and now it good place may be to buy becouse all index`s now stay on the bottom edge on the daily chart. And i think until end of this year we are will be in this range. Iam wait close gap and after may be first hour scenario "New Low and GO".
Sceanrio2: Price fail under 6580 and sellers will be strong active. In this case I will be look same strong resistance area.
Market recap
Day comment:
Market:
1. Crazy market with strong delta reverse.
2. At first half of day no strong interest moment and prce try to test High and Low area.
Trading:
1. Iam try to sell in one moment BUT it does not go and after Iam seat on my hand and wait same clear moment. No same interest moment and I close terminal and go home! Excelent desciplne!! Perfect!
