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DAX Journal and trading the European Session


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DAX Journal and trading the European Session

  #21 (permalink)
Hanneke
IJsselstein-Utrecht - The Netherlands
 
Posts: 122 since Feb 2017
Thanks Given: 95
Thanks Received: 419

There was a reason why I hadn't posted my debriefing yet of Thursday and no Big Picture for today.

I had a real trading day yesterday: 60 trades, traded the whole day from 9 o'clock in the morning until 21 o'clock in the evening, -7,11R
I got stuck in a TOTAL LOSSTRAP

This is what happened:



I know that it is not my trading plan (beside that I need to learn how to benefit more from my Big Pictures....), I need to change something in myself.
So I need to decide what to do next. I will probably stop trading live for some time and first solve somethings and perhaps change some priorities.

I for sure intent to keep on going with trading, so I will post Big Pictures for the DAX and debrief them. Just to keep the feeling with the market and learn how I can benefit more from it. See f.e. the debriefing of August 17th:



I will probably focus on learning an other future to focus on to prepare myself for the TST Combine.
I am not going to change my setups-rules. They are fine, I am only not able to excecute them correctly so I will be also focusing on that.

So for you all: Happy Trading and trade with Grace, Ease and Joy!

Hanneke

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  #22 (permalink)
Hanneke
IJsselstein-Utrecht - The Netherlands
 
Posts: 122 since Feb 2017
Thanks Given: 95
Thanks Received: 419

Funny to see the things that come on my path at the moment that I have a setback:
  • and...I just finished part 2 of Van Tharp Peak Performance course and gues what the subject is of part 3?



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  #23 (permalink)
Hanneke
IJsselstein-Utrecht - The Netherlands
 
Posts: 122 since Feb 2017
Thanks Given: 95
Thanks Received: 419


To keep feeling with the DAX I will keep on posting Big Pictures and my Pivot Zone analysis and I want to do the debriefings. I am not going to trade today.





I have decided to change my priorities:
1th priority: find a job or extra source of income
2th priority: train myself in excecuting my trading plan in a proper way with much, much, much less error. I will use an other future for it, so I prepare myself for the TST Combine also.

My most important insight from the last few days is that I need to make the mental switch that
on a Trade-To-Trade basis I will never know if the trade will be a winning trade or a losing trade..... it is a random distribution of winners and losses

I knew this already, but it isn't in my traders DNA yet. That is the mindset that I need to develop, since I know that my setups have an edge. So being able to excecute my tradingplan flawlessly I will be able to close the GAP between the potentian of my tradingplan and my bottomline results.

Happy Trading to you all and trade with Grace, Ease and Joy!

Hanneke

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  #24 (permalink)
Hanneke
IJsselstein-Utrecht - The Netherlands
 
Posts: 122 since Feb 2017
Thanks Given: 95
Thanks Received: 419


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  #25 (permalink)
Hanneke
IJsselstein-Utrecht - The Netherlands
 
Posts: 122 since Feb 2017
Thanks Given: 95
Thanks Received: 419




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  #26 (permalink)
Hanneke
IJsselstein-Utrecht - The Netherlands
 
Posts: 122 since Feb 2017
Thanks Given: 95
Thanks Received: 419

The debriefing is based on papertrading. It helps me to built up my confidence again.



I am also watching a DVD-serrie of Mark Douglas. There is a lot of similarity with Van Tharp.
My biggest learning from this is NEVER, NEVER have an expectation if a trade will work or not.

The DVD-part 3 was only about how price movement arise.... All prices movements are an imbalance in the degree of conviction between the traders who believe prices are going up and those who believe prices will go down.
He explains very clearly that Big Money Parties (he calls them the Dynamic players like large hedge funds, banks, etc.) can drive the markets up or down. As a retail trader you will never know what will happen in the market.
It takes only one Dynamic player somewhere in the world to let your trade become a winner or a looser. You will never know!!!
The only thing you know is that your setup has an edge with a random distribution of winners and losses. ON A TRADE-TO-TRADE BASES YOU WILL NEVER KNOW WHAT IS GOING TO HAPPEN.

Having expectations regarding a single trade, it will create satisfaction or disappointment. Based on above, having expectations is being unrealistic. It will caus us to define/interperet and therefore preceive market information as threatening. This causes fear for being wrong, losing, missing out a trade and/or leaving money on the table.
By having no expectations regarding the outcome of the trade eliminates these fears.

So:
My biggest learning from this is NEVER, NEVER have an expectation if a trade will work or not.

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  #27 (permalink)
Hanneke
IJsselstein-Utrecht - The Netherlands
 
Posts: 122 since Feb 2017
Thanks Given: 95
Thanks Received: 419





Due to the exuberance of yesterday, a correction may also not surprise us.


Happy Trading and trade with Grace, Ease and Joy


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  #28 (permalink)
Hanneke
IJsselstein-Utrecht - The Netherlands
 
Posts: 122 since Feb 2017
Thanks Given: 95
Thanks Received: 419

I traded August 23th in the Market Replay to build up my confidence and to test if I am able to be total neutral regarding the outcome of the trade.....

Still made some trade errors, due to expecting a outcome an not be totally objective regarding my setups.






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  #29 (permalink)
Hanneke
IJsselstein-Utrecht - The Netherlands
 
Posts: 122 since Feb 2017
Thanks Given: 95
Thanks Received: 419



Pivot Zone Analysis is still in research phase:



No live trading for me yet.

Happy Trading and trade with Grace, Ease and Joy!

Hanneke

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  #30 (permalink)
 XeneX 
Almere
 
Experience: Advanced
Platform: NinjaTrader
Trading: ES, Gold, Dax
Posts: 3 since May 2015
Thanks Given: 102
Thanks Received: 4


Sadly, Mark Douglas is no longer with us anymore and his once ever so expensive DVD series "How to think like a professional trader" can now be watched online via YouTube.
His book 'Trading in the zone' and 'The Disciplined Trader' are also highly recommendable.

Like Van Tharp, works of Mark Douglas, Bill Williams should in every traders' bookcase (or in PDF format on every trader's hard disk).



(I am also watching a DVD-serrie of Mark Douglas. There is a lot of similarity with Van Tharp.

The DVD-part 3 was only about how price movement arise.... All prices movements are an imbalance in the degree of conviction between the traders who believe prices are going up and those who believe prices will go down.)

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Last Updated on October 6, 2017


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