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FESX Trading Journal Using GOM Indicators


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FESX Trading Journal Using GOM Indicators

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  #1 (permalink)
 hadamkov 
Prague Czech Republic
 
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Big Mike's challenge made me think of finally getting into it and starting the journal.

THIS IS GOING TO BE A JOURNAL OF MY PAPER TRADES, as I am still in the beginning phases of trading.

I plan to start the journal on Monday, March 5.

Meanwhile, attached is a snapshot of my everyday pre-market analysis for the next trading day that I regularly post on Stock Twits, Twitter and Facebook.

It can be seen in it that I use Gom indicators (Elite section) and the chart setting is fully inspired by L2ST value based trading.
(Please note that I am not their member or used any of their products, just read all their blog posts and seen the videos. I do not trade their setups as in fact I am not sure what exactly they are.)

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  #3 (permalink)
 hadamkov 
Prague Czech Republic
 
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As can be seen from my previous post, I use Value-Based Trading strategy.

For trading setups I use Gom volume ladder and MP and Gom CD, all charts are set to 5 range bars.

My strategy is based on trading from support and resistance levels (defined on previous day) in the direction of "least resistance".

"Least resistance" in my terms is defined as supply/demand development shown in bid-ask numbers in the volume ladder. In short, either the selling/buyng dries out or the "supply meets demand", the bulls or bears are trapped and thus the stop-losses and psychology works in my favor.

Attached you can find examples of the setups described above.

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  #4 (permalink)
 hadamkov 
Prague Czech Republic
 
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My first trading day is over.
My first trade is over.

Following my pre-market analysis, I had a few S/R areas marked in my chart to indicate where to look for setups.
Rarely does it happen (according to my backtest) that there is a signal in "pre-market" hours, or more plainly, during the first bar.

This situation occured today but I did not take the trade.

Following that first mistake another mistake followed. I took a trade which did not have any clear signal and was opposite to my first intention.

Result: loss 5 ticks/contract (see attachment)

MY MISTAKES were caused:
1) by fear
2) by wanting to be right

MY SUCCESSES TODAY:
1) As soon as I fully realized what I have done (still in the trade), I managed the loosing trade well and closed it before my initial SL was hit (8 ticks).
2) I did not take any impulse trades, despite that I wanted to .

Since I trade only during the first four hours of trading, I did not take any more trades.

AFTERTHOUGHTS:
It was a big lesson today, even though only confirming what I already know about myself. I need to work around my need to be right and around my fear to pull the first trigger. I have to remind myself that it is a probabilistic game and that I am able to manage the trade.

Even though my first trade ended up in loss, it was sheer joy to learn about myself and I am looking forward to trading tomorrow. And by the way, I did a recording of my trade (too large a file for posting anywhere, besides it is in Czech and private ).

Thanks for following me.

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  #5 (permalink)
 hadamkov 
Prague Czech Republic
 
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And not only for the market but for myself, too.

On the attached snapshot it can be seen that I took four trades today, which is the maximum trades that my trading plan allows per day. I also reached my target loss of 5% FOR A WEEK. In case of live trading, I would go back to paper trading.

Since this is a paper trading journal, I am still learning and today the lesson was really valuable, I, of course, will continue to trade.

Trade #1
Screatched - BE. Shorted the first (open) bar correctly, scratched the next bar out of mere fear and uncertainty even before the bar closed.

Trade #2
I assumed that the market could close the opening gap so I entered on the next setup. The setup was MORE OR LESS correct, however I did not manage the trade well even thoug I could see that it did not develop into what I expected and I let the stop loss to be hit.
Loss: 8 ticks per contract

Then, it seemed that I completely forgot to short

Trade #3
The setup was not clear enough, I took it despite of that. I did not manage it well again as I let it hit the stop even though I could see it was not developing as it should (hope and preyers are useless here ).
Loss: 8 ticks per contract

Trade #4
It was a nice setup and around a quite strong S/R area. However, with approaching noon, I knew there was going to be some chop. This trade was just sort of "out of fun". I secretely wished it would go my way but I was not granted that wish.
Loss: 8 ticks per contract

LESSONS LEARNED:
Areas to work on (weaknesses):
Fear again
Fighting the trend
No trade management today (maybe after the first mismanaged trade)
Entry on unclear setup

What to do:
I do need that checklist for the morning (have it in my trading plan, still not ready).
I do need to define my setups more precisely.

I am still learning and I like the way delta was developing today. I spotted a few things to notice in my next trades.

Thanks for reading thus far .

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  #6 (permalink)
 rani 
Prague, Czech Republic
 
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Greetings to a fellow Bohemian -
Good job with your journal, keep going and good luck with trading!

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  #7 (permalink)
 hadamkov 
Prague Czech Republic
 
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rani View Post
Greetings to a fellow Bohemian -
Good job with your journal, keep going and good luck with trading!

Greetings to you, too .
My efforts are just starting, I am at the very beginning and even after the first three days I have piles of stuff to learn!
Thanks for your support.

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  #8 (permalink)
 hadamkov 
Prague Czech Republic
 
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Today I took two trades.

Trade #1
I entered the first trade based on a very clear signal. I managed to live through several heats but was too greedy and did not close the position at my previously determined target. I managed only to move my SL to BE+1.
Result: +1 tick/contract

Trade #2
This trade was rather wrong. I forgot that I do not trade from that area unless there is a clear trend which there was not. I scratched it.
Result: -6 ticks/contract

LESSONS LEARNED:
Either stick to 2 contracts to be able take the first profit target and than manage the remaining contract, or adjust my trade management. However, that will come only with experience (watching and understanding what the market is doing).

Experience is invaluable.

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  #9 (permalink)
 hadamkov 
Prague Czech Republic
 
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I realized today that it is no good to trade overexhausted.

So much of special concentration to which I am not used to takes its toll. I guess I need to accustom. But I do not give up.

Three trades today, all of them losses, all of them stop loss hits. The last one was managed a bit, I moved my SL closer because of the price action and cumulative delta behaviour.
The losses webe a bit smaller since I made some adjustments to my entries which seems to be working.

There is no need to summarize each trade separately. I did not focus very well today on the charts and completely forgot to follow the bigger picture. In fact I completely forgot the basic principles of the market auction and instead concentrated on pure signals.

I reformulated my morning checklist. Am preparing a summary of this week which I intend to post on weekend.

Thanks for following me.

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  #10 (permalink)
 hadamkov 
Prague Czech Republic
 
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Today I am posting early as we are going dancing tonight .

I was ready to both sell and buy the market today.

Trade #1
First opportunity came during the first bar, third bar only confirmed it. The first contract hit my profit target, I managed the second contract and as soon as I saw quick buyers coming into the market, I closed the second contract and entered a buy order, however was not filled. I stopped trading afterwards as the market slowed down and did not give me any more reasonable signals before noon. I trade only till noon.

1 trade: 17 ticks profit.

LESSONS LEARNED:

Fast market requires fast reaction. I am glad I did not think too long... Maybe I got a glipse of "stay tuned to the market" state.

Oh, how much I wanted to overtrade afterwards.

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 hadamkov 
Prague Czech Republic
 
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My overall result for the first week of paper trading is -77 ticks.
It also seems that I prefer shorting and trend fighting .

In the next week I will try to focus on both sides of trading, though all depending on my pre-market analyses (posted on StockTwits and Twitter, will add it here since next week) and developing market structure.

FOOD FOR THOUGHT:
- Morning checklist was urgently needed (done)
- Do not forget about VALUE, focus on market structure (ongoing)
- More strict definition of my SETUPS (done, filter added, review of the definitions themselves, focus on only one setup where supply meets demand)
- Check on my emotions regularly (ongoing) it seems that following four days of loosing I got so excited by one winning trade that I wanted to overtrade (fortunately had too much to do ).

Thanks for following me.

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  #12 (permalink)
 hadamkov 
Prague Czech Republic
 
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Here is my preparation for trading tomorrow with S/R zones.
We moved back to the long-term value.
If there is no sign of rejection tomorrow, the market will probably move only around this magnetic area.

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 bobarian 
whitestone, new york
 
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hadamkov View Post
And not only for the market but for myself, too.

On the attached snapshot it can be seen that I took four trades today, which is the maximum trades that my trading plan allows per day. I also reached my target loss of 5% FOR A WEEK. In case of live trading, I would go back to paper trading.

Since this is a paper trading journal, I am still learning and today the lesson was really valuable, I, of course, will continue to trade.

Trade #1
Screatched - BE. Shorted the first (open) bar correctly, scratched the next bar out of mere fear and uncertainty even before the bar closed.

Trade #2
I assumed that the market could close the opening gap so I entered on the next setup. The setup was MORE OR LESS correct, however I did not manage the trade well even thoug I could see that it did not develop into what I expected and I let the stop loss to be hit.
Loss: 8 ticks per contract

Then, it seemed that I completely forgot to short

Trade #3
The setup was not clear enough, I took it despite of that. I did not manage it well again as I let it hit the stop even though I could see it was not developing as it should (hope and preyers are useless here ).
Loss: 8 ticks per contract

Trade #4
It was a nice setup and around a quite strong S/R area. However, with approaching noon, I knew there was going to be some chop. This trade was just sort of "out of fun". I secretely wished it would go my way but I was not granted that wish.
Loss: 8 ticks per contract

LESSONS LEARNED:
Areas to work on (weaknesses):
Fear again
Fighting the trend
No trade management today (maybe after the first mismanaged trade)
Entry on unclear setup

What to do:
I do need that checklist for the morning (have it in my trading plan, still not ready).
I do need to define my setups more precisely.

I am still learning and I like the way delta was developing today. I spotted a few things to notice in my next trades.

Thanks for reading thus far .

good job creating the journal, a step in the right direction

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 ThatManFromTexas 
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I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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 hadamkov 
Prague Czech Republic
 
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I am unable to wait for posting later.
Am done with trading today.
Target met.

My first opportunity came before 9.30 so I entered my buy order. Was filled some 10 mins later. All those trapped shorts fuelled the move upwards. After hitting my first target I moved my SL to BE+1. Then my second target was hit.

Result: 8+12 ticks = 20 tikcs for the day. Daily target met.

LESSONG LEARNED:
I had to sit tight on my hands. First, not to hit the CLOSE button, second to keep them warm .

Trading is about patience and sitting tight believing what you see.

AFTERTHOUGH:
It may sound funny but I feel dizzy and my head is spinning. I feel like I have conquered the market. I feel like I know everything about it. What a dangerous thought! I know what I feel. That is why I do not trade today any more.

Thanks for following me.

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  #16 (permalink)
 hadamkov 
Prague Czech Republic
 
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This is my preparation for tomorrow.

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  #17 (permalink)
 hadamkov 
Prague Czech Republic
 
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Today FESX gaped up on the open and the sellers were not strong enough to push the market back. However, I did not get any signal so did not trade the first move upwards. I got a signal for short, however it was approaching noon chop. Still, I entered the short trade, I was just curious if any sellers arrive when there were (or would have been) so many bulls trapped. Sellers did not appear so I scratched my trade at BE.

As you can see from the attached chart, the sellers did not appear afterwards either. However, I could not and mainly did not want to wait so long (I trade only in the morning) - the move upwards started only at some 3.30 PM - three and a half hours after I get out of my trade.


LESSONS LEARNED

Holding my trade was not easy at all. I entered one tick below my inital entry since I got afraid that I would miss it. Than after a long time of waiting, I first moved my stop loss, than I moved my profit targets several times here and there but finally I managed to persuade myself to really close it and let it be. The stop was hit shortly afterwards and I felt relieved I was out.

AFTERTHOUGHT:
I think I forgot about the gap up and lack of sellers. Otherwise I would not enter the trade around noon at all and would let the market be for today.

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  #18 (permalink)
 hadamkov 
Prague Czech Republic
 
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This is my preparation.

We are a bit in the unknown now because of new highs. The S/R areas are from a year ago and will not have such impact. Need to look for the development tomorrow.
Need to concentrate on what sellers/buyers do and the structure of the developing day.

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  #19 (permalink)
 hadamkov 
Prague Czech Republic
 
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My today's trading was the same as last week.

However, apart from trend fighting there was one more emotion.
After missing the initial move up, I was afraid that I would be left without a trade. So I took my first trade at the completely wrong place, not supported by S/R area. Before entering the trade I drove away that thought and fully realized it as soon as my order was filled.
I still am not able to close out the trade that I entered at the wrong place without any real edge.
Result: -6 ticks per contract.

Second trade was just an attempt and was taking too long.
Result: -3 ticks per contract.

Despite that I made only two trades, I now feel as of I was overtrading.

Also I wanted to be careful today because of the new highs but did not really think about it during trading.

The only thing that I really managed today was to move my stop losses closer.

LESSONS LEARNED:
Believe what you see.

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  #20 (permalink)
 hadamkov 
Prague Czech Republic
 
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My preparation for tomorrow. Perfect balance today could have been a sign of long liquidation. We will see if more sellers enter the market tomorrow.

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 hadamkov 
Prague Czech Republic
 
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I said it yesterday.

I said, I was afraid that I would be left out without a trade.
So, today it happened.

The market played beautifully in the morning. It was right at the support level, I could see all those sellers hitting the level without success. I had my hand on the mouse, the order ready, still, I was afraid to pull the trigger so close to the support (I would risk 2 ticks only and I was afraid! Funny, isn't it?). After the buyers showed more action, I fired, however too late. I was not filled.

LESSONS LEARNED
#1
I realized that I need to prepare more thoroughly. I of course do more than just post a snapshot, I have all my S/R levels written down. However, I need to be more precise in scenarios and know what to do on each S/R level. Today I almost hit the sell button on a support. Than I realized what I was doing.

#2
Funny how I got afraid to lose 2 ticks and then tried to place an order with a bit larger risk (and much smaller RRR). I am probably not that agressive but I need to choose the amount of risk.

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  #22 (permalink)
 hadamkov 
Prague Czech Republic
 
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Strong buyers today. Will sellers show up tomorrow or will resistance turn into support?
New highs mean "getting into unknown". Down turn means back to value.

Roll-over tomorrow.

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  #23 (permalink)
 hadamkov 
Prague Czech Republic
 
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Today was a roll-over day.

Trade #1
I took the first trade soon in the morning, however it could be seen that the volume is just disappearing. I scratched the trade at a small profit of 1 tick/contract. The reason was that I could not trade due to work and could not concentrate.
Result: +1 tick/contract

Trade #2
After rolling over to the next contract month because of much larger volume and since I had some time free, I made an exception in the afternoon and took another signal.
It played out nice, just a proof that what I trade works every part of a day (what I know already). This time it was rather aggressive entry so I risked only 3 ticks and also planned just a small profit target. Also I did not have my strategy working in NT so I had to manually enter the SL and PT orders.
Result: +7 ticks/contract

LESSONS LEARNED
I need to repeat that state of mind that lets me trade so smoothly.

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 hadamkov 
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After summing all up, this week comes a bit as a surprise for me.
Though it is nothing earth-shaking, my overall result for this week is +18 ticks, one day no trade.

MAIN POINTS FOR CONCENTRATION:
- I still do not really use my checklist. I tend to forget the day structure and the prevailing "force" (my trend fighting). This is probably the consequence of knowing that the markets are cyclical. Thus, I underestimate the force of apparent trend.
- Thanks to NT market replay, I have a plan to go over the reversal situations on various days first, then to go through the trades I would trade. The reason is to get my mind used to such situations and recognize them during their development. I read somewhere that if your mind is empty of such experience, one is unable (logically) to vizualize what can happen and what one should do.
- It seems that my "zone" is closely connected with my emotional state. My last Friday afternoon trade is a clear evidence for me as I received some good news before I sat down at my PC.

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 hadamkov 
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My preparation. With roll-over, we are back at value.

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 hadamkov 
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Today, I was more inclined to take longs as the market is in an upmove.
However I could see that there were sellers active from the bell. So my inclination to go long rather than short and the fact that I did not get any signal are the reasons why I did not trade the move down. One lessons learned from that - see below.

Trade #1
As soon as I saw serious buying coming in, I entered, then quickly moved my SL as soon as the upmove was confirmed and the microsupport held. My initial SL was 5 ticks, then qucily moved to 3 ticks.
I needed to sit tight on my hands but was rewarded by the first target being hit about an hour later. Then I moved my SL to BE+1. I managed the exit of the second contract. As soon as I saw sellers and the noon chop was approaching I closed the trade. I could have waited for some additional 3 ticks but those were not worth the time.
Result: 8 + 4 ticks (total RRR = 1:1.2)

LESSONS LEARNED:
Currently, I trade only my countertrend signal. Today I spot the trend signal after the opening. As soon as I get really consistent with my countertrend signal, I will try to monitor also what my trend signal does. The reason is that sometimes the countertrend moves are much harder and take longer, especially if those are not the first move of the day.
From now on I hope not to forget to mention my total RRR.

Thanks for following me.
From the psychological point of view, I need to focus on what the market is doing and not on the result or my wondering imagination .

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 hadamkov 
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My preparation for tomorrow.
Each day is still a bit of a suprise for me.
Hope it will get clearer soon .

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 hadamkov 
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I have mixed feelings.

I was looking at the markets with only one eye, working. That is why I should not feel too sorry for not participating. Still, I do feel a bit sorry because FESX moved so nicely today and I was even looking at the first setup in the morning without taking it knowing that I would not be able to concentrate on the trade...

Then I placed an order based on a countertrend setup but cancelled it afterwards remembering I will not be able to follow the trade. It was a good decision based on sheer luck as it would be a loss (just of a couple of ticks).

My not trading, however, did not prevent me from thinking about markets. I realized that I was less willing to take the trend signals because I am unable to determine their RRR. But to tell the truth, even with my countertrend signals the RRR is just a vague notion and I try to manage the trade.

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 hadamkov 
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My preparation for tommorow. Sellers finally arrived. The MP is skewed so we will see tomorrow if buyers will fill in the narow parts of MP.

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 hadamkov 
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Today I really had a feeling of getting easy money.

Trade #1
I saw buyers on the open, placed an order and left my PC for about 30 mins having a tight SL (4 ticks). When I came back I could see that the market turned up 1 tick from my SL (proud of judging correctly its placement). Then came the first move in my direction. My first target was hit quite quickly, right now it was on the current high of the day. I managed the second contract and closed it as soon as the microsupport did not hold and I saw selling.
Result: 8+4 = 12 ticks (RRR 1:1.5).

LESSONS LEARNED:
I hesitated but then realized that my SL would be really small. So I hit the button.
Believe what you see.

Thanks for following me.

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 hadamkov 
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My preparation for tomorrow.

Also psychologically, I am getting impatient.
I have started a journal all right. But due to workload I am unable to fully devote all mornings to my trading. That is why I finish trading after the first couple of trades (or rather only one, if profitable). Honestly, I am not frustrated when seeing the big moves after I withdraw from the markets. I am just getting impatient that I cannot practice more.

Anyway, I still regard it as a huge experience. I do trade, I do replay my trades in my head and on PC, I do visualize next trades. It is great that every day I can see the same setups, though slightly different. I learn every day. I can't wait till April. I have already booked a whole week purely for simulation, paper trading, replaying, paper trading, replaying. Luckily, NT has the market replay function and I record everything. Thanks to the slightly changing situation in our family, I hope I will not have to devote so much time to my "paid" work in April and focus on trading in the morning plus continuation in the journal.

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 hadamkov 
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Posting early to remember everything.

Today I again confirmed several important things. But first lets do the trade summary:

Trade #1
The S/R area was quite far, the volume was quite low. Still it was relatively correct setup, however, with some contradictions. Tight SL.
Result: -3 ticks/contract

Trade #2
A valid setup. But I forgot about the report... It was obviously negative. Afterwards the market ran like crazy - a new experience. Wonderful!
Result: -4 tics/contract

Trade #3
Chasing the market, first short... Pressed the Close button by mistake ! It turned out as the only right thing today.
Result: +1 tick/contract

Overall result -12 ticks.

LESSONS LEARNED
- I am currently unable to "quickly" change my "mind mode" from short to long or vice versa. Maybe the second point will help:
- Currently it seems that I place SLs correctly based on my criteria. I need to realize that if those criteria are no longer valid, i.e. my SL is hit, the market is probably heading in the other direction and I should look for setups (trend or countertrend) in the other direction.
- As soon as I have some loosing trades, I tend to want to trade more to regain all back. The feeling is not that of "revenge", I am just disappointed a need to recover (my third trade today was such).
- This was my first real experience with report. I usually have just a vague idea, but today it did not pay. Market ran away.
-I need more losing trades to learn . It means more exposure to trading. Mentioned in yesterday comment with pre-market analysis.

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 hadamkov 
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My preparation for tomorrow. We started to accept value below LTF VAL. Will we confirm the downtrend or will we go back to value?

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 hadamkov 
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Despite today being a loosing day...

Trade #1
Aggresive countertrend entry on just the slightest hint of what the market can do, tight SL. Stopped out.
Result: -2 ticks/contract

Trade #2:
Aggresive countetrend. Was thinking too much . This time my SL was too tight, however from the outside-of-market viewpoint, I would not trade it otherwise. Stopped out.
Result: -2 ticks/contract

Trade #3:
This was just a test of my trend signal with wider SL. I tried to change the mode from bear to bull. Stopped out.
Result: -4 ticks/contract

Then I finished trading because I had to leave.

Overall result: -16 ticks

...I do not feel disappointed. I was trading influenced by yesterday wonderful webinar about risk . Got more aggresive, will have to test this approach of course, but I like it. The fact is that I used "information risk" today, got stopped out several times but the individual losses were so negligent that I was still able to focus on what the market was doing. THAT IS WONDERFUL! I know that a lot of trades and small losses can wipe out my account (that is why I am on SIM) but after many many attemps. Also, it is really good to my emotional capital.

Thanks for following me.

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 Big Mike 
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Enjoy your weekend,
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 hadamkov 
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This week total is -4 ticks.

All the lessons learned are pointed out in the relevant posts. Most important for me is the realization that I need to practice loosing. I may have found out my current "acceptable" risk level.
At the end of the week I tried to trade according to the last webinar by FT71, however this is not a tested approach and I have to see to it more to be able to incorporate it into my trading. By I liked the ideas about "information risk" and "price risk".
Currently, I will try to revert to my "tested" trading strategy.

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 hadamkov 
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My preparation for tomorrow.

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 hadamkov 
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My trading today was really frustrating.

Trade #1
Got aggressive long, stopped out.
Did not follow my preparation (I said I cannot be aggressive without proper backtest first and I was despite of that), as a consequence did not follow my trading plan (due to aggressive entry, I entered on a completely invalid setup).
Result: -8 ticks total

Stopped trading because I had to work but watched the downmove. Got frustrated even more. If only I have followed my plan... .

LESSONS LEARNED:
Am still frustrated and cannot think of it now.

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 hadamkov 
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My preparation for tomorrow.
I hope I will be able to follow the market tomorrow and to stick to my rules.

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 hadamkov 
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It seems that I keep on picking up just minor swings.

Trade #1
Entry based on correct setup, followed my plan to the point... Then almost forgot to move my SL to BE+1. Fortunately remembered in time.
Was patient today and entered correctly. Well done.
Result: 9 ticks (RRR: 1:1.125)


Again: It seems that I keep on picking up just minor swings. Today, I felt particularly sorry that I could not trade any more since then I saw beautiful setups exactly according to my plan. It is probably the aftermath of my bad trading not following my plan and reviewing the rules. Also, morning checklist and preparation ignored...
This is what I probably need to write across my PC screen .

Thanks for following me.

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 hadamkov 
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My preparation for today.
I wonder if what the delta was doing yesterday was showing how buyers were buying bids below the LTF VAL.

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 hadamkov 
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Posting early, feeling a bit disappointed.

Trade #1
After I overcome my fear that prevented me to enter on the first signal I entered on the second.
After my first target was hit I moved SL to BE+1. Then managed the second contract but the second target was finally also hit.
Result 8+16=24 (RRR 1:2 and 1:6, overall 1:3)

LESSONS LEARNED:
I realized that every day before the first trade I feel fear. Fear of not being right. Today it prevented me from getting in on the first signal but also allowed me to realize it, fight it, get calm and enter on the second signal.
I am disappointed with the hit of my second target. I was too slow (thinking too much, feeling fear again after a small heat) to move it. I managed to move it only once. At this moment, the market is still rising and I do not see any signs of reversal yet.
I am looking forward to times when the mouse clicks will be so automated that I will not have to feel regret .

An afterthough three hours later:
The reversal pattern showed a minute after I finished my post.

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 hadamkov 
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My preparation for tomorrow.
Report at 8:55.

Supports at:
2389 (major)
2397
2409 (LTF VWAP)

Resistance at:
2433
2446

S may become R and vice versa.

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 Big Mike 
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Stick with it!

What are the three biggest improvements with yourself or your trading since you started the journal?

What are the three biggest problem areas with yourself or your trading you want to continue focusing on, made clear since the start of this journal?

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 hadamkov 
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Big Mike View Post
Stick with it!

What are the three biggest improvements with yourself or your trading since you started the journal?

What are the three biggest problem areas with yourself or your trading you want to continue focusing on, made clear since the start of this journal?

Mike

Thanks a lot for encouragement... Saw your post yesterday but did not want to reply immediately but rather give it some thinking

THREE BIGGEST IMPROVEMENTS:
They might seem "small" but for me they are big. I have been studying trading for more than four years (various, mostly pleasant family reasons prevented me from starting "real" trading earlier) but now I can clearly see that I am at the very beginning even though I thought I knew a lot about the markets.

1. Starting the journal. That is probably the biggest improvement since I procrastinated a lot.
2. Technically, I am getting acustomed to working with my platform and setups.
3. Psychologically, despite that I still struggle, after reading so many books on psychology of trading and human beings, I can see exactly what mistakes I do, what is their most probable reason and I can work around them.
(Can I add more?
4. My SLs are very well placed. Their hitting really invalidates my original assumption for the current market direction.
5. It seems that I am able to work around various fears. Needs to work with that more.)

THREE BIGGEST PROBLEMS:
1. I need to properly define my entries. I am a discretionary trader, I cannot trade mechanically since I NEED TO HAVE ROOM TO MAKE DECISIONS AND BE IN CONTROL OF AT LEAST THEM WHEN I CANNOT BE IN CONTROL OF THE MARKET. That is me, my personality. Despite of that, I need to have my setups defined a bit more in details (I have added an intermarket analysis filter since starting the journal, it seems to fit perfectly with my system, however it needs a bit of backtesting so that I know how exactly it fits). Planned for April - have already made arrangements so that I am able to concentrate on it.
2. Psychologically - I need to refine my morning checklist and give it a proper shape. Refinement planned for April together with point 1. I think I have started to work around my fear of the first trade of the day. I must apply the same technique to all other psychological issues (being blinded by loss to the extent that I do not see the reversal setup, fear of another loss after a loosing trade).
3. Again psychologically I need to learn how to be "neutral" and not too attached to either short or long side, i.e. I need to work around my need to be right , I need to set this need off by having control of my entries, exits, risk and position sizing.

All in all, the major aspects I need to concentrate on are of psychological nature. No news here.
Thanks once again.

Also, thanks to you and your "questions" I refined my trading plan and added such summary into the weekly overview of my trading.

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 hadamkov 
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I am not satisfied with my trading today.

Trade #1
I entered the trade because of fear of missing out. No S/R to really support it, on the contrary, I would even say that the RRR was really small with respect to my planned S/R zones. I knew it from the very beginning but "hoped and prayed" .
Result: -8 ticks

After that trade I was afraid to enter on the next signal.

Trade #2
Entered during the noon chop because I could see the market was moving but I thought it was my major support from the plan for today and it was not! I moved the SL quickly to BE.

Total result: -8 ticks

LESSONS LEARNED:
Today I traded in a disturbing environment. Our son is sick and stayed at home with me. He kept on asking for stuff. Also we had a service man here working so I could not talk through my trading aloud.
I am unable to see whether those are just excuses or not but I think that the situation influenced my concentration.

I am getting more and more aware of the fact that my SLs are hit "correctly", i.e. that I place them at spots that really invalidate my original assumption about the market direction. This is something that I am really proud of and since the rules for placing them are simple, I will stick to them.

Thanks for following me.

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 hadamkov 
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My preparation for tomorrow. The market now reached important support.

Supports at:
2373
2363 (?)
2349

Resistance at:
2397
2411

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 hadamkov 
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Stressed out.
All kids with me, sick.
A deadline for job missed, though the client is kind enough to understand...
Working as hell.

Hope for financial freedom (defined by Van Tharp) some day. Try not to have unrealistic expectations (like, next month ).

Have a good Friday.

TGIF

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 Big Mike 
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Feel better soon.



Try to enjoy your weekend!



Mike

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 hadamkov 
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Feeling better.
In the attachment - the result of today's non-trading with all the kids around...

The pride of all ladies of Moravian origin (one of the regions of the Czech Republic), the so called double-filled "kolacky".

A cup of coffee, latte macchiato, capuccino or just tea?

.

Enjoy your weekend.

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 Big Mike 
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Congratulations on your journal!



In the spirit of our March Trading Journal contest, I am asking everyone to spend a few minutes and share their journaling experience.

A) What are the top five benefits you have seen as a result of regularly posting in this journal?

B) What are the top five problem areas you have identified as a result of regularly posting in this journal?

C) Were you initially reluctant to start this trading journal? If yes, why?

D) How do you feel, overall, about your journaling experience?

E) Would you recommend to others that they should also start a trading journal?

Thank you for taking the time to answer my questions. I appreciate your posts, and I hope you have benefited from your journal. I also know that others will benefit as well, just by reading about your own experiences.

Enjoy your weekend,
Mike

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 hadamkov 
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Losers: 2
B/E: 1
Winners: 2

Week result: +17 ticks

MAJOR LESSONS LEARNED:
Caught myself being scared of the first trade of the day. Will focus on it every trading day to be able to work on it.

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 hadamkov 
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Below is my account statement for the month of March, assuming I would start with 10,000 EUR. Attached is the equity curve.

Beginning equity: € 10 000
Net profit/loss: -€ 550,00
Final balance: € 9 450,00
Trades total: 36
Winners: 16
Losers: 17
BE: 3
% Win: 44,44%
Largest gain: € 160,00
Largest loss: -€ 160,00
Average gain: € 70,63
Average loss: -€ 98,82
Average trade: -€ 15,28
Max. Drawdown: -€ 1 070,00
Max. Drawdown %: -10,70%

Lessons learned will be posted together with answers to Mike's questions.

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 hadamkov 
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Big Mike View Post
Congratulations on your journal!



In the spirit of our March Trading Journal contest, I am asking everyone to spend a few minutes and share their journaling experience.

A) What are the top five benefits you have seen as a result of regularly posting in this journal?

B) What are the top five problem areas you have identified as a result of regularly posting in this journal?

C) Were you initially reluctant to start this trading journal? If yes, why?

D) How do you feel, overall, about your journaling experience?

E) Would you recommend to others that they should also start a trading journal?

Thank you for taking the time to answer my questions. I appreciate your posts, and I hope you have benefited from your journal. I also know that others will benefit as well, just by reading about your own experiences.

Enjoy your weekend,
Mike

A) What are the top five benefits you have seen as a result of regularly posting in this journal?

I am a real beginner. I knew a lot of theory but I have never traded during the real trading hours with real data (if I forgot the occasional clicks, about 5 of them during the last four years). This was the first consistent experience of trying to trade. Based on that my list could be endless and it is really hard to find the TOP five + and five -. But I will give it a try. Here they are, not in order of importance. Just the five TOP of them.

1. First of all, I had to get ready. I had to finish a few things that were still pending. You know, procrastination... A few small tasks that took me ages to finish. So, I had to put my excel sheet for calculating ratios of my trades into an "order". I finally shaped my Trading Journal in OneNote (similar to the one here on futures.io (formerly BMT) but in more neat and better accessible way, with attachements, links, recordings) next to my OneNote Strategy and Trading Plan.

2. I am a discretionary trader. Because of my need to be in control, I am unable to trade mechanically. I tried but I have never understood why some indicator would tell me that the market is o/bought or o/sold or why a particular pattern meant what it was supposed to mean according to others who use it. That is why I use footprint charts and delta as at least I seem to understand what participants are in the market and where. Having said that, my backtesting was rather short and as I realized during the first trading week that I did not have a clear idea of what my edge really is, what the initial RRR of my trades should be. With more trades noted in my trading journal it has become more obvious and I made adjustments. I cannot say that my trading system is up and ready to be traded. But I have a solid base on which I want to build during the following months. For me that is quite a big achievement.

3. Funnily enough, when I started my journal, I felt sort of secretive about my trading system. Here, I could see that some of my fellow traders share what they do without any problem, I know real live traders who have no problem telling me what exactly they are doing, internet is full of similar ones willing to share what they do. After the first three weeks of trading I realized that since all is in my head, I do not need to be secretive at all. I have realized that no matter how precisely I can describe my trading system, the others will not be able to trade it my way.

4. Psychologically, I had my ups and downs. I can see that my fear of first trade has been with me since the very beginning. I knew about it as I mentioned it in my first post about my very first trade. Only after three weeks of attempting to trade I got into a "phase 2" - I caught myself feeling the fear (I did not realize it afterwards, I realized it during the "process" of feeling it). I hope I will be able to repeat the experience since as soon as I realized it, I was able to consciously shake it off for the first time.

5. I somehow feel that I have become a part of a community. Though I am an extrovert, I like my time on my own. Untill now I did not feel the need to share my thoughts about trading with anyone. Suddenly, with the journal I became aware of a ship full of people trying to succeed in what they have started. First I started to go through other journals, just to check on how others are doing. Then I started to read other threads and mainly about psychology, though the journal section is also full of psychology. I learned new stuff there, too.



B) What are the top five problem areas you have identified as a result of regularly posting in this journal?

First of all I must say that despite all I learned about myself and trading during that month, keeping a journal for just one month means almost nothing.

1. My first point is closely related to the point no. 2 above. My problem area right now is the proper definition of my edge. I have already made a list of what needs to be done and set aside some time in April and on.

2. Psychologically I found out the recurring issues that I have during trading: fear of pulling the first trigger, fear of missing out, being disappointed when I am not right (even if I am not in trade, I keep on trying to predict what the market will do), inability to shift smoothly from being short oriented to being long oriented and vice versa.

3. I have realized that I am able to process much less information when watching the market than I previously thought. Before that I planned to watch this and that and suddently, it is not possible. I seem to be fascinated by price movement. In my opinion, it is inexperience but I will see in April after more practicing if I am able to "detach" myself from the price.

4. My trading was limited during this month by work. Also, I have my own limit - to trade only till noon as I do not need to be slave to the market. Only thanks to the work that I had to concentrate on most of the days I did not overtrade on winning days. Also my fear of losing what I won prevented me. I did overtrade on losing days. First it is because of fear of missing out, second because of unclear setups, third because of need to be right, fourth because I feel disappointed and want to recover and probably some more. This is something I need to focus on since it seems that there are many emotions attached to my overtrading caused by losing.

5. I learnt not to trade different systems. I was influenced by a seminar which I liked a lot, however even after "telling myself" to go back to my system, I stopped only after a couple more losing trades. Stick to my system and learn it property. Backtest the new stuff.

C) Were you initially reluctant to start this trading journal? If yes, why?

On the contrary, I jumped at the opportunity. This is something that I really needed.

D) How do you feel, overall, about your journaling experience?

It made me feel I am finally making some real steps towards what I have planned. It made me START with hands on experience. I am more in touch with myself then I have been in a long time.

E) Would you recommend to others that they should also start a trading journal?

Definitely. There are fellow traders who could help by asking, by giving advice. It also makes a person committed. After a while it becomes such a natural part of everyday tasks that one would not think of ending it. After some time it just becomes a habit, something that it should be.


Thanks Big Mike and all others.

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 hadamkov 
Prague Czech Republic
 
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We nicely bounced off the low of the range.

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 hadamkov 
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Am sick. Have flu. Fell asleep in front of my charts... Completely unable to read them.

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 Big Mike 
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Feel better soon.



Mike

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 hadamkov 
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I just must share.
After waking up, I spotted something in the market that I do not see as often as I would love to.
Attached is my Holy Grail. The setup that met ALL criteria...

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 hadamkov 
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Pre-market analysis. We have rejected the low for the third time.

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 hadamkov 
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Flu.
Don't know if it is the effect of it but probably not.

I placed two orders today, too late. I knew it was too late.
I am horribly afraid of not being right.
Why is that so? Rhetorical question.
My everlasting life "problem". The way I was raised. I am the other extreme of those who often heard how unworthy they were. I heard the opposite.

I am a stubborn, selfish and greedy creature (hopefully not as much as I was when I was 20, life has taught me a few lessons but apparently not enough for trading) that has no fear. Except of one thing. Of not being right.

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 hadamkov 
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Too many sellers or not too many sellers?

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 hadamkov 
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First, I was sort of proud of myself in the morning for being able to finally pull the trigger again.

Second, one thing is the preparation. The other is actually following it. I think I need more precise scenarios, not only a general description of the possible market movement for the next day and S/R levels, i.e. I need scenarios of what to do on each S/R level.

Today I traded countertrend...
Trade #1
Entry before the setup completed. It was confirmed only by intermarket divergence but not on delta. Full SL.
Result: -9 ticks

Trade #2
Another countertrend, correct setup, confirmed by delta but the sellers are really strong today.
Result: +4-6= -2 ticks

Total result for the day: -11 ticks

Major thing for me today was that I was able to trade again. I felt somehow "exhausted" after the month of contest. I assume I am just new to it and have to get used to it. On the other hand I let the newly regained confidence to pull the trigger distract myself. After the first trade I completely lost my attention and started wondering around. That is why my second trade came so late afterwards.

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 hadamkov 
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We are heading back to previous value.

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 hadamkov 
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Today I planned to trade but was not really sure.
I trade from home. However, with all the family (kids as well as husband) around it was impossible.
I felt awkward when my husband stood in front of me and my monitor asking whether this was really it? smiling when I was waiting patiently for my trade. So I smiled too and I knew that it was it for today so I called it a day.

Also, I have been in a bit of an emotional turmoil since the end of the contest.
First, after it finished I was suddenly afraid to pull the trigger because I was afraid of not being right.
Then I realized that I lacked confidence because I did not have enough practice.
Then I realized I would not be able to get practice if I was afraid to pull the trigger.
And I was back at the first point...

So first of all, I need some more practice. I had plans for April but those are now in shatters because of incoming work. Obviously I did not do enough to have the time necessary for all I planned. That is the reason why I plan, and plan it properly, to have the whole May for my own "Trading Academy". I plan to prepare a daily schedule of specific activities including reports and records and I am really looking forward to it.

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 hadamkov 
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We are still in the down trend, though the first buyers appeared.

PS: My PC crashed on Saturday morning... Spent all Easter looking for a new PC and reinstalling the whole system + softwares...

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 hadamkov 
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My trading consists of scattered clicks outside of my plan because of lack of time.
I decided to interrupt the trading till my "trading academy" starts in May.
And by the way, I won a complimentary copy of The Disciplined Trader Master Kit. I hope it will come soon and it will be helpful.

My prep for tomorrow: Still no buyers.

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 hadamkov 
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Finally it seems that the buyers arrived. Could be seen from the very morning. Still there.

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 hadamkov 
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Despite being predominant during the last two days, buyers seem still a bit hesitant.

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 hadamkov 
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Here is my PMA for tomorrow. After Friday's heavy selling it will be difficult for buyers to overcome it tomorrow but who knows .

PS:
I found it quite difficult to not trade after a month of paper trading and journaling .
Cannot wait till May...

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 hadamkov 
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Sellers on uptick

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 hadamkov 
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Sellers becoming more active but their levels are far from previous levels.

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 hadamkov 
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My prep for tomorrow.

Since I regularly post my pre-market analysis on Twitter and Stock Twits, I will not post my PMA any more here untill I resume trading (paper) - probably in the second half of May after the first half of my May Trading Academy.

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 hadamkov 
Prague Czech Republic
 
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and how it goes (went).

In one of two of my posts here I mentioned that May would be my "Trading Academy" month. I designed and planned it for myself about three months before (some time in mid February after the January journal contest).

I wanted to go through it here really thoroughly at first, giving you and myself every detail of my plan, my goals and my accomplishments. But...

I have heard somewhere that "rules are to be disobeyed", well, "plans are NOT to be met".

May 1, I got a bit surprised by my clients who behaved quite naughty despite being warned of my unavailability (one of my friends was horrified to hear that, saying how can I regard my clients as naughty? He would see them as loayal! - well, well). I have been on and off quite a few jobs during the first half of May. The number of requests had faded only slowly...

Here comes the second half of May. I finally started to implement what I planned for, though in very much abbreviated form. I planned to thoroughly plan my "next" trading day and then run the Market Replay in NT. After about three "days" (during one morning) I gave up the "planning for trading" part and just let the Market Replay play. And I found out an amazing thing.

Before I try to explain, I must mention that I have been trading pairs for 1+ year which is a purely mechanical strategy. By nature, that strategy is designed to mostly lose but come out as a winner in the end (in some 80% cases). I spent half a year paper trading before I went live and still get "discouraged" by the losses but nevertheless, I believe (and can see) that my strategy is working.

Now, back to that amazing thing. I am not sure if I am able to express it in words really. After watching Market Replay, regularly placing trades after setups that were according to my rules I found out what every successful trader talks about. I found out that it is all in my head. Trading has (almost) nothing to do with entries and all to do my ability to manage myself and the trade. It is about belief in my system and in myself.

I am not telling that now I am going to be all of a successfull trader. I am far from that since I now have to find out how to get to that "state" of being able to manage myself and the trade. But I have found out one more thing. Trading is extremely BORING...

And that made me think again if that is what I really want to do...
I want to continue till the end of May, learn even more about "my" market as I got really hooked up. I am now really curious about what the market is going to do and when. And that is now probably the only thing that holds me involved. My curiosity. My approach to the markets has changed. I would say completely but am a bit afraid of overstatement...

To sum it up, I am now at a crossroad. I have to find out if my curiosity (one way) will overcome the now expected boredom (the other way).

Happy trading.

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 petrmac 
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Congrats to the journal!
And also greetings to compatriot:-)

I hope that the trading academy was fruitful. To the boredom: it think this is actually the great advantage (if you are able to bring it from sim/replay to live trading). It ought to be boring. Trader must not trade on impulse.
You must not feel high after a win and not depressed after taking a loss. Quite many traders fail at that and this is their bane.

One warning: market replay is a nice thing if you want to learn the setup and backtest your plan. But you would have to run it in the 1to1 speed in order to be useful. If you speed it up once in a trade, then you skip all the psychological impacts the open position might have on you.

I have practiced in the past months on replay a lot and I had incredible results on Replay (like profit of 2000 dollars on 6E per day). When I got to live market the results were not so great (i didn't trade 6E live though).

Let us here know how you feel and what other experience have you taken from the "academy".

Happy trading

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 hadamkov 
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Congrats to the journal!
And also greetings to compatriot:-)

Thanks and hello and all the best to you, too.


petrmac View Post
One warning: market replay is a nice thing if you want to learn the setup and backtest your plan. But you would have to run it in the 1to1 speed in order to be useful. If you speed it up once in a trade, then you skip all the psychological impacts the open position might have on you.


Exactly . I was very well aware of my watching market replay in fast forward mode... But it was only for "watching" purposes and making printscreens and taking quick notes. Than I re-run it in real mode (well, x2 - according to our kids' clocks ticking here I found out that it is close to reality, probably closer than x1), especially whan I was in a trade. I know that backtesting and fast forward sim trading gives results that are not at all close to reality due to their speed. So I do trade in slow mode.

I had gotten so engrossed in my training that I was depressed yesterday to have to go back to "work" (I am a freelancer) today. Well, reality is fully back with all the e-mails from my clients (I am still very lucky to have them).

I will try to sum it all up during the weekend and post.
Thanks for following me.

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 hadamkov 
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Let me quote PandaWarior from his journal (

...Part of a public journal is the accountability to others....but since its anonymous, there's really not that much one can get out of it unless one is first honest with oneself and acknowledge his/her own short comings. Besides, no one wants to step on someone else's toes and offend them by calling them out for things they do that's not in their best interest...

It is an eye opener for me, though I have been aware of it for some time already but did not know how to put it in words... I am afraid but I do not see any benefits in posting here since it is (i) anonymous and (ii) no one wants to step on my toes...

I am frustrated because of my inability to be accountable for myself. I do all that PandaWarior mentions in his post. I am not honest with myself and do not do what I said I would. My trading academy was a disaster not because of my clients but because of my lack of discipline. I was engaged in the markets for only two weeks which is painfully insufficient and not doing what I planned to do.

The only thing that I have not lost is the determination. I will try to learn...

Thanks, PandaWarrior.

Hana

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 petrmac 
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Hi Hana,

I am sorry that the academy didn't work as expected. My question here is why have you chosen the FESX before all? 10 per tick is IMO too much size for the beginner. Is that mr. Podhajsky & Nesnidal influence?

I am not competent enough to give my own advice, but I would heed @Big Mike s advice to decrease size. Once you get confident with smaller, you can increase size afterwards.

It helped me personally tremendously ( going from NQ to M6E).

Good luck in trading!

Petr

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 hadamkov 
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Hi Hana,

I am sorry that the academy didn't work as expected. My question here is why have you chosen the FESX before all? 10 per tick is IMO too much size for the beginner. Is that mr. Podhajsky & Nesnidal influence?

I am not competent enough to give my own advice, but I would heed @Big Mike s advice to decrease size. Once you get confident with smaller, you can increase size afterwards.

It helped me personally tremendously ( going from NQ to M6E).

Good luck in trading!

Petr

Petr,

Thanks a lot for your interst.

As far as I know, the two guys (or rather one of them) has started trading FESX only recently (or am I mistaken?), I have been focusing on FESX for all the time (four years). The reason is family. I have time only in the morning, I am unable to trade and run around various clubs with three kids in the afternoon...

Also, my orientation in fx futures is zero and I am pretty scared of spreads, pips etc. ))

However, I am not really unhappy about the market as it did not do anything bad (and hopefully will not) to me. I am just purely inconsistent by not doing even the things that I plan for myself. So my question is How can I build confidence in daytrading when I do not even try? Only after I start fulfilling my plans as to the trading, can I say that the market does not fit me. I remember posting somewhere that I try to reduce my risk as much as possible and looking for an ideal entry. But I would probably do it in any market. It is just my lack of confidence because I am not really active. Or maybe I am so much risk averse that trading is not for me. Or rather daytrading. So I am now researching other options.

Well, in any case, my head is spinning .
Thanks again.
Hana

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 hadamkov 
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I have been reading a lot during summer (well, I have been reading a lot my whole life )...

Maybe I am just getting old but it seems that the recent books have much more profound effect on me than the ones that I read in the past.

To be specific, in June and July I covered The Talent Code, Talent Is Overrated, Seven Habits Of Highly Effective People and now I have started Ari Kiev's books.

Both books about talent gave me an idea why "dreaming" of success will not help .
Seven Habits gave me an idea of what is really needed to be done.
and Ari Kiev just slaps me in my face with his books...

Again, to be specific on my last point, Ari Kiev gives name to all things that I suffer from. He makes me cry...

I am not able to trade because I am so afraid of failure. It seems that currently, I am not able to detach my own value from my trades' results so every failure in trading (SIM not live) leads to my sense of lower value.
Also, I have not been able to share my failures. The reason is that I am not able to take responsibility for my results. And there is more that right now, I cannot recall that fast to write about.

I have decided to do something about it, but that was here already many many times with me. I do not know whether I will ever be able to do anything but the truth is that I have probably become obssessed with my inability to turn my plans into reality.

I do not want to promise anything. I will just keep on trying. It seems that this is my life motto that I do not want... (and an answer comes immediately to one's mind: "Change it." Well, I know how but currently am not able to.)
Hana

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 hadamkov 
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Last Friday was a very balanced and narrow day formed just below a POC of a new short-term range. The Friday close was near the newly formed high of the day indicating a possible way up. The market may test the high of the range after testing the low without success.

From the long-term point of view, we are nearing the hight of a large range that has started about a year ago. The whole current up move has been accompanied by raising delta as well as uptick. The sharp fall on August 2 seems to had been a dip to shake out weak hands and use the opportunity for buying. All dips in price from that time seems like they have been accompanied by buying (limit orders), however Friday was the first day of selling. That seems quite obvious because of the near high of the range.

Tomorrow we will see if the market still needs to build some volume and balance or wether it indeed wants to test the high (near 2550) of the range. And of course, it may also head south and fall back. Only tomorrow will tell .

Successful trading.

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 hadamkov 
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We kept balance today.
It seems that the value is moving lower, despite (or maybe because of ) a couple of buying tails during the last short-term trading range. We will see if the "magical" level of 2400 will hold.
Today we closed within value, however the final buying could have been just short covering. This will definitely be resolved tomorrow.

In the long-term, all remains the same. We are near a long-term range high so we need to watch out for any responsive selling activity.

Happy trading

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 hadamkov 
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Perfect balance today, close very near POC. Very light volume. Limits seemed buying for the whole day but with such low volume...

2430-32 is now a POC area for long-term, short-term as well as today. So the fight is going to be somewhere in the area of 2400, 2417 and 2432.

Buying tails become smaller, the volume today is again in the lower part of the profile. All remains.

Happy trading.

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 hadamkov 
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Still balancing, nothing new, light volume. Another test of ST range low, no tail this time, though the morning dip was used for limit buying. Close in the upper part of value area.

Happy trading.

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 hadamkov 
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Finally, the limits drove the market today to a bit of an uptrend, but still within the long-term range.
Light volume, value is now behind price. Limits again mostly buying.

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 hadamkov 
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Friday was a nice balance day, a breath-catching day after a sharpish up move, with a few tests of the low of the day testing the high volume node from Thursday and an almost second test of the high that has not yet been confirmed.

Limits were buying most of the day, especially during the dips. All is set for a further up move to attack the high of the long-term range since we have moved away (up) from a long-term high volume node. But I guess much more volume would be needed to overcome the resistance at that level. But the market will tell.

Happy trading.
Hana

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 hadamkov 
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A perfectly neutral day today, an omen of change , the fight now begins, though with little volume.
Volume POC is lower than time POC, limits remained neutral today, no more buying to the highs.
Sellers showed much sooner than at the LTF range high (close to 2535), the market did not ever reach the "round number" resistance at 2500.
Still, the "jump" up from the support at 2450 was quite significant and we closed back in the middle again.

Enjoy the fight .
Happy trading.

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 hadamkov 
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No more limit buying today, just selling.
Much volume traded near the top of the daily range.
Close near VAL, unconfirmed buying tail, will probably be tested tomorrow (again).
Narrow range forming, low volume, not interesting area for trading.
We will see if the market needs more balancing or can start its way down back to previous value.

Happy trading.

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 hadamkov 
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A short term range established and confirmed now.
We tested a range low and the market is now caught between 2450 and 2500.
Selling all day long but not really convincing as to further down move tomorrow.
I would expect more balance but will watch out for any inefficiency.

Happy trading.

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 hadamkov 
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Lovely down day, lovely "inefficiency" shown right in the morning when the market sell orders visibly "ate" the limit buy orders. So there was only one way today which was down.

We are back at low of the previous short timeframe range, there is a major support (approx. 2400) and would need lots of market volume to penetrate, however we are already past the highest volume node at 2432 (now a resistance as well as magnet).

If the market turns really down, it is difficult to estimate the length of the move because there is not much volume to resist. Otherwise we might get back to a lulling balancing market again.

Sell zones: 2450, 2433
Buy zones: 2406, (2415), 2380

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 hadamkov 
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It is almost 90 mins in the trading day and I can see some attempt to consume the buy limit orders by sell market orders. We will see if the support is strong enough to hold.

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 hadamkov 
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Back after a short pleasant family break, I can see not much change. The market is stuck in a longish range with light volume (though the last trading day showed a bit of an increase).

We jumped off the low of the range (2400) - obviously, such a nice round number , also maybe because the ceiling created by sell limit orders was eaten up by the markets orders. So this attempt to drive the market lower was not successful. We are now back in the middle of the range.

Important buying/selling zones are 2400, 2417, 2450, 2463.

Happy trading.

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 hadamkov 
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Light volume (obvious - US public holiday).
Rally heading to the longer timeframe range high (2500). Selling activity evident when nearing the top, however only light for now.

Important zones remain almost intact:
2433
2450
2463-66
2480
2500

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 hadamkov 
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It is almost midday.
Balanced trading, signs of limit selling vs. market buying from the morning. Now trading below value from previous range (2469).
Limits may mean covering the longs. No decisive action seen yet.

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 hadamkov 
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We are back down from ex POC (2466) at the current POC (2433). This POC is very strong since it has already been a POC before (August 7-17) so we might as well travel down to the range low (2400). Today, I would expect further fall down towards the range low, however, there will probably be a bit of a fight near the POC. (If I traded ), I would follow what limits and markets were doing to determine the balance or imbalance.

Happy trading.

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 hadamkov 
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Balanced and neutral day yesterday with a small selling tail, more limit selling at the EOD as well as generally more limit selling throughout the current range (2400-2470). From the long-term perspective it could mean a way down, however we still need some more volume to get below the current POC (2435-38) (we are now above). The preferable direction is down.
The area 2431-2438 is full of volume. It will need a lot of initiative selling to get through. We will see if we get it in the coming day/days.

Zones:
Selling:
2453
2466

Buying:
2435-38
2421
2431

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 CoinCoin 
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Keep up the good work sir !

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 hadamkov 
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Trend day yesterday. Seeing the movement after posting my PMA I would not dare go short (if I traded...), though mentally I doubt I would be able to jump on. I have still a lot to learn about handing uncertainty and risk...

Yesterday, the LTF POC proofed to be a strong support with enough volume preventing the fall. And also here goes the saying "If it ain't go down, it will go up."

We are at the LTF range high with market as well as limit buy orders volume twice as large as last time at this price. This may indicate some still strong upmove. So if there is any weakness in the up move, it should be halted strongly enough and would need much much more volume to go down. Or a complete change in the mood.

2550 is a strong support changed into resistance from last year, also some profit taking will surely happen. I would assume some balancing today.

Happy trading.

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 hadamkov 
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Friday was a break-in-trend day after an upmove, also after a hit of strong resistance (high of a very long-timeframe range). Despite that markets were buying the whole day, limits were strong on the sell side and the markets could not hold the market up despite of heavy trying. It was probably not "ceiling eating" but limits selling at constantly lower prices.

The fight is not over, there is a strong support now at 2524-29 and 2500(-2510). There we will see who currently wins.

Happy trading.

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 hadamkov 
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Limits kept selling and markets kept trying to hold the price by buying but without much success. We closed below previous LTF VA high which now can be a strong resistance. If the market is not able to push through it up again, we are heading down.

Important zones:

Buying
2506-2510
2493

Selling
2529-2530
2544

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 hadamkov 
Prague Czech Republic
 
Experience: Beginner
Platform: Sierra Chart, daytradr
Broker: EdgeClear
Trading: Eurex Futures
 
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Posts: 516 since Nov 2011
Thanks: 1,299 given, 448 received

Price is now ahead of value, finally there was a clear sing of "ceiling eating" with the markets able to move the price higher. We will see if there are any more sell limits up there or if they finally give up and start buying, too. The overall volume is not very large but there is no convincing responsive selling at the top of the newly formed short time-frame range.

Important zones:

Selling
2600-2606
2576-2580
2558-2564

Buying
2545-2547
2530

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