Discussion on thread here
Gains still at field one.
System did not work consistently (like in the past) during these
past 16 weeks.
No rule changes were made though. Money management prevented from bigger losses.
On some days the rules worked but did not take out the maximum
of the moves seen.
Chances are still to see some more normal weeks again.
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I hope you know that I am a fan and a supporter, and have been for some time now.
But I often am a little puzzled about how and why you reach your trade decisions. I know that you have your rules, and I'm sure that if I reviewed several years of your posts, I would pick them up. But when you post a chart, even with a very brief explanation of what you are looking at, it tells me more, right away.
It's up to you, and I'm not asking you to go through every little thing every time, or even go through it at all, for that matter.... but I feel I learn more when I can see what someone is seeing. For example, the last post, with chart, was interesting and revealing.
I recognize that starting to go into a lot of detail also takes up more time, and posting is not anyone's main priority.
Just a thought. I'm enjoying your journal as is, and plan to keep reading one way or the other, anyway....
Last edited by bobwest; April 29th, 2016 at 02:43 PM.
Reason: More clarity (I hope)...
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Thanks many times for following and good input in my journal here.
Indeed it is hard to describe the different rule sets given for any day.
As the system proposes is to enter and exit after the first 30min IB decision.
All the rules are about found of some working pattern 4 years ago when the
journal started. Since then I had only changed stop loss settings but not main
rules. Thus it is really not easy to "see" what is the reason for triggering a trade.
Most of the patterns are really for the given weekday under some conditions
by looking at previous day range (cash hours) and eventually announcements
of the same day (to prevent from be lifted out by strong moves as well the upcoming
holidays, end of month, triple witch etc.)
That makes the trading plan quite complicate to read. Even for me
As you are from other time zone I assume that you might be not aware that my
posts are developing ones: I announce in IB time the full trade with direction etc.
and then I enter the trade as it develops. Finally a patchwork post is written there
and by reading it later it does not show how it did develop.
You are right that the insight into a "system" is not easy to transmit and even more
difficult to understand from outside. (It is much easier in my Walzer thread - as the
rules are very short and clear).
So I must admit that in some cases when I have little time I do mistakes in taking
the *right* trading rule. That leads to negative results - and are frustrating even for
A nice example of failure you can read in my next post here...
As there are many followers I will try to show more of the thoughts - and still bring
the "clean" journal for those who are interested in naked numbers only.
So I will be more clear when a trade occurs and when not.
Have a great weekend
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Note to me: Last of the MONTH!!!
Our friend from the ratcave would have said - I knew it already since a long time: just watch the calendar
I was quite distracted with a project that had nothing to do with trading. So I was between phone calls and meetings.
And still trading here - to be clear: NOT taking THE TRADE and following my other work.
Coming back and starting to analyze the day I have seen that I overlooked a major thing in my trading plan.
Which is written since a long time though:
Yesterday - yes Friday AND the last of month - has a special rule: This is to take a trade in the reverse direction of
a Friday (so in the same direction as IB 9:00 to 9:30 showed) from 9:30 to 16:30...
That easy. BUT: the rule did not say in which importance it will be for that given special day. Friday and Last Of Month
is very rare - and I had not much of them seen in my trading.
The trade was not taken (as mentioned in the post) because the previous day range did not allow). In fact that was
the false rule order:
NOW I fixed that list and the standing of this rule: ON TOP!
Back to my sad detection in the evening:
Given I had seen the *right* trade written in my trading plan it should have given this result:
Dax short 9:30 to 16:30
entry @ 10266
exit @ 10111
result 155 points
SL normal - 30 points
No discussion - that IS a good result - the best since January.
But it does not count as I have not taken that one!
At least my order of taking trades has got a slight shift and next time such occasion will not be given away.
That is trading: Sometimes it is luck to fish some points - sometimes it is a pity to miss obvious settings!
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