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Journal Trading Competition July 2017: Focus on the Top Tasks of Traders
Be a good trader is doing the good thing, which means focus on the proces and the Task of Top Trading.
So this challenge is the right challenge for me after a period of self-sabotage which kept me from being consistent profitable ..... and that is what I would like to achieve.
I am probably one of the few female trader here, so guy..... I can use all your support.
In my trading you will see the influence of Chris Boon (my trading mentor), Van Tharp, Ken Long and Rob Hoffman. They all have earned a lot of respect of a lot of traders in The Netherlands and in the world.
So out of respect for myself, my inspirators and my trading buddies I commit myself to focus on doing the right thing according to my tradingplan.
I will report my results expressed in R (1R = 10 point of risk in the DAX), my trades and my debriefing (including it I respected my 4 bullet-system).
I will also debrief myself on how well I performed on the Tasks of Top Trading (source: Van Tharp)
I trade the DAX with a CFD and my main trading hours will be in the morning.
Within the context of the Big Picture, I will trade 3 kind of setups:
1) OWL-setup or a so called 'Pietertje': this is a kind of return to the mean trade
2) Spike-setup: this is a setup that I will use when the market is trending
3) SQC-break-out: this is a setup when the price is compressed
In my posts the upcoming days you will get what this all means.
This morning I took 8 trades with a few trading mistakes. Total result: +3,34R
I missed 2 changes for a nice Long trade this morning and this was cause that I didn't trade what was there. So even though by focus for today was Let-the-trade-come-to-me and Trade-what-you-see, I missed that one completely.
For more details about my trades: please see my log below:
I also debriefed by BigPicture and I looked to far back and also on a to high timeframe/tickchart. Making a BigPicture on the 5 minute chart would have helped me better today. This is how it would have had looked liked:
This morning I went over my log of yesterday and I added some additional actions to it:
1) Set a alarmclock @ 8:58 every working day as a reminder to adjust my SL if neccessery
2) Mental Rehearsal for the setup that I missed yesterday
3) Intention for today: First location, then setup
I must admit that I hardly every do Mental Rehersal, so let's start with it today and make it a habit.
One of the selfcheck questions I ask myself is:
Am I committed to excecute my plan?
YES I AM
So guys and girls: I will first start with the mental rehearsal and will post by Big Pictures for today afterwards
self-sabotage which kept me from being consistent profitable ..... and that is what I would like to achieve.
trader here, so guy..... I can use all your support.
