Results

Last week I had 3 trades in this journal, 3 points profit.

Total results for this journal:



I'm staying abroad again till the end of August, but will try to keep on posting

Deetee 

Tuesday First day of the month. Looking at ‘1st day of the month’ data on Tuesdays, there are only 8 occurrences. With the IB long, a short trade gives the best result. I’m not sure if I should look only at the Tuesdays, or that ‘1st day of the month’ data doesn’t need to be filtered on the weekday. If I don’t, the long trades are looking better. If I ignore ‘1st day of the month’ totally, then also the long trade looks best (9:30-11:00). First I will have to do some homework before knowing what to do on the ‘1st day of the month’. So, no trade today.

Have you looked at first day of the month excluding all other filters? If there's any relevance to this calendar date then perhaps removing other variables from your analysis could reveal something.

For example, what if the large wage payment processing companies in Germany pay direct deposits on the last day of the month, and the employee retirement funds invest their monthly contributions on the following business day. Under such a scenario you might see a slight upward bias in the DAX on the first of the month. But what if the last day of the month falls on a weekend? Do contributions then get pushed back by a day? I personally have no idea, just suggesting potential avenues of exploration, as I have learned some worthwhile tidbits by applying similar analysis to other asset classes.

Anyway your work so far looks good. Wishing you safe travels and continued progress.

Wednesday

Today the IB is short, there is no gap and IB closed inside prior day HL range.

For a long IB, there was a nice trade (long 10:00-11:30 SL45). Even though the IB turned short just a few minutes before 9:30 (and might prepared for a nice entry at 10:00), rules are rules, so, no trade.

Schnook 

Have you looked at first day of the month excluding all other filters?

Hi @Schnook, thanks for your message. Yeah, I did shortly but I wasn't well prepared; didn't know what to do. Will work on this for next time. You are right, it doesn't matter which day of the week it is, it is the first day of the month, that's key.

Schnook 

Anyway your work so far looks good. Wishing you safe travels and continued progress.

Thank you. I have a good feeling about the system. Every day I hope for a good setup, but even if I don't trade, like today, it kind of also feels like winning, as there is no loosing

Deetee 

Every day I hope for a good setup, but even if I don't trade, like today, it kind of also feels like winning, as there is no loosing

Well - we are all traders: Means looking for more points on positive trades than with negative ones.
Seeing a setup that seems ok for a winner then we must go for it - yes?
If we are not sure - then we just stay at the sidelines.

If we are afraid of trading - then:

we let others go for luck or loose

That easy.
Good trades @Deetee

GFIs1

Thursday

Today the IB is short, there is no gap and the IB closed inside prior day HL range.
Volume is very low, it seems like some German states have a holiday. Anyway:

DAX Long trade
Entry 10:00 @ 15568
Exit 10:30 @ 15576
SL 41 pts
Result 8 pts

Historical results with this setup:
251 pts (15 trades/win% 87%)

Let's see

Friday

Today the IB is long, there is no gap and the IB closed above prior day HL range. Only 15 occurrences.

DAX Long trade
Entry 10:30 @ 15638
Exit 11:00 @ 15623
SL 33 pts
Result -15 pts

Historical results with this setup:
170 pts (15 trades/win% 80%)

Let’s see

edit 13:20: The trade was based on the fact that IB closed above prior day high. Price was above, but not very convincing; anyway, rules are rules

Results

This week I had 2 trades in this journal, 7 points loss.
Total results for this journal:



Next week hopefully better. Have a good weekend

Monday

Today the IB turned long, there is no gap and the IB closed inside prior day HL range.

DAX Short trade
Entry 9:30 @ 15679
Exit 10:30 @ 15668
SL 33 pts
Result 11 pts

Historical results with this setup:
648 pts (50 trades/win% 64%)

Let’s see

Edit 10:31: I didn’t like how the IB developed, going to prior day low and back to above the open, and then to trade on an IB long setup, but I’m glad I followed the setup. My analyses don’t look at how the IB developed, so why should I, or I mean, I wouldn’t really know how.

Tuesday

Today the IB (OC) is short (almost flat), there is no gap and the IB closed inside prior day HL range.

I don’t really have a nice setup for this, so no trade today