Still struggling with the I feel like I'm just guessing my entries, I know method is sound, probabilitys are on my side, but I'm pretty much only taking trades while BORED, rather than actively looking for trades and running alerts like I should be, to keep me ontop of the market.
I'm set up very nicely to trade anywhere with a 3G signal, so no excuse at all to not trade more.
Ipad Mini is the tool for the job, battery run time is more than enough, extra screen size is enough to run 2 charts at once for watching, auto logs on and goes back to where it was and doesn't drain the battery while in the background perfect shoulda paid the extra and went that way last year
BORED, hot and sweety quick test of last week DAX and GA before I attempt to hit the gym LOL
Monday, am no real action respected the 0.05% range, boring, 1 break up move news related no doubt, then some callable chop. basically scalp for pennys all am, odds are break up would of blew through SL a bit and hurt, then okay.
Tuesday, good am chop range, new related break up, no way to call.chop also highs failing to break, I live shorted that down move Chop which then breaks up.
Wedneday, fast trend down, would of likely been long on the down spike unless avoiding due to news, then some top downward biased chop which turned to upward biased chop good pips to be made there.
Must go, finish later, work out trade values as a confidence booster ( if it's positive LOL )
Got to pull my finger out here, I've got a working ( tad work in progress ) method, suites the current market conditions just fine, I've got 2 months of cash and not alot spare, if I start taking $2200 area out per month as a wage I'm never going to get anywhere, I need some serious growth
So 2 months and 2 weeks, say 3 months with some playing hard ball, to ideally triple the account although doubling it would do just maybe, no pressure like.
2 weeks left of baby sitting / school runs which eats into my available time and it's at good trading times, but only 2 weeks, consider it getting head in game time.
Summer Doldrums coming to, it's going to get slower and more erratic and harder
12 weeks, need a gain of X so that'll work out as 120pips per week on average, without increasing the lot sizes as the account grows which I will do ofcourse.
2 average days I should be able to return that kinda pips, say 3 allowing for how slow it is, just scalping the range in slow times, 10pips per trade x 12 trades simples.
No point burning out and blowing it, so scale up with plan for near enough full time in 2weeks time.
DAX is putting in lower highs and tracking under my 24sma, medium downtrend, so take a short near the 24 right ??
9870 is being bought and been holding well, so go long allowing for that.
Up we go in this case, likely to only the upper 0.5% Envelope then back down, I don't have a huge issue shorting there, so far so good on that, coulda shorted 9881 with good reflex's back to testing lows here.
But I'd be out here and only worth 6pips for risking well more.
If I'd of shorted 78 say, then 81 ( 81 isn't really high enough I'd of missed it, had exit at 74 for +4 big wow.
In this case I'd of been better off buying the buy support with a tight SL, definately better off, but don't like going against the trend arrgghhhhhh!!!
Catch 22, damned if you do, damned if you don't.
No trades as yet, having a theory morning ( Lazy )
Short DAX 9891, longer term slow downtrend might retest low's, might!!
SL 9903 2nd position 96 area, also using the 9900 as a resistance point tad far away but why I run 2 positions, removes the need for accuracy and reduces the missed trades, all just best guess anyway right!
Got to take what your given, trying to force more = losses, 20 of those a week without any losers and I'm on target LOL no chance comes to mind.
Reason for exit, quick drops are generally low volume, there done for effect, shake out weak hands and accumulate and continue current direction.
Slower drop, would of had meaning and woulda been a keeper.
Where to enter next, short 9895 area, long 9883 area.
GA just did a fast drop and reverse to, why people lose, they see fast drop, short it and 9/10 it'll reverse on them, OMG why does it always do that to me, your falling for a trap fool learn and stop it.