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DAX Journal and trading the European Session


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DAX Journal and trading the European Session

  #41 (permalink)
NerradC
Perth AUSTRALIA
 
Posts: 253 since Jun 2017
Thanks Given: 79
Thanks Received: 87


Hanneke View Post
I traded the morning session until 13.30: 3 trades and +2,1R

I started by making a trade error directly, but I corrected myself also directly
The DAX was quit long in a small sideway channel of just 35 point (I call that a SQC-pattern) so during my trade session I framed my trades to be prepared what I could expect. This is how that looked liked:



So after the price had chosen direction I traded the OWL-setup short on the 15 min chart (with much more slippage than usually).

In the charts below you will see the context of the trades (my BigPictures), my setups on the chart and for even more details my journal:







The Pivot Zone analysis that I made this morning helped me to be open to keep thinking in 2 directions.

Have a great day.


being able to think in both directions are so important. thats good way to help up !

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

Good morning!

A little late start today. My Pivot Zone Analysis and BigPicture for this morning:





My procesfocus for today:
Be aware of the disqualification rules of my 2 setups

This is the first trade I took: Short Full-spike with retouch on PP level with a 10point stop which I attached to the Swing-Highindicator +2pnt on 2 min chart. 3R target is median of PF of the 20 min chart = demand zone:



Will the trade work...... I don't know. I only know my setup has an edge

Happy Trading and trade with Grace, Ease and Joy

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


The debriefing of my trades of this morning.
This time just my trades because I had a good excuse to spend my time on other things

3 trades and +0,96R and 2 improvement points:



Sharper acting on my profit exit rules will be my proces focus for tomorrow.

Sleep well!

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

Last Friday I started late. I traded from 10:30h until 14.30h: 6 trades, +2,7R.





I made much more trade errors entering trade then I was aware of. I noticed that I had a kind of inner conflict regarding the RSI 14 and I have also traded with some fear to miss a trade (see my trade errors; If I had waited for a more clear spike setup I would have traded with more confidence)

My biggest insight of Friday: When the market is in a clear trend and the RSI14 on the 2 and 5 min chart is dancing around the 70- or 30-level, wait taken reversals until the RSI 14 leaves the OB/OS area on the 15 min chart. Before that: focus on trading with the trend.

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

My Big Picture and PZ Analysis for today:





Procesfocus for today:

Trade my setups with awareness of the disqualification rules

Note: 10:00h German Ifo Business Climate
15:00h Draghi Speaks

Happy trading and trade with Grace, Ease and Joy!

Hanneke

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

I have had a good tradingsession this morning: 6 trades and +6,87R

Two improvement points:
- Respect my RSI14 disqualification rule
- Respect my rules regarding trade optimalisation.

For more details of my trades, see the chart below in context of my Big Picture and my journal:







Since I keep on 'struggling' with my RSI-disqualification rule Friday and today, I am going to do the mental rehearsal exercise of Van Tharp (guided meditation) and I will make is it my proces rule for tomorrow.

Have a great evening!

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

Today I traded in the afternoon and I am not happy about the way I traded. 5 trades, -1,66R, all bullets used.

I didn't follow my rules:
- I was letting the trade come to me, I was searching for them
- I didn't respect my fixed TP @ +3R (not that one of my trade would have reached that level...) and put my TP on GEO-targets without having +4R already in the pocket. For me this is a signal of not being in the right trading state and although I was aware of it, I didn't stop trading to correct myself.
- I use al kind of trademanagement methodes, so I didn't respect my own rules.
This kind of things happened in the past also when the market in sideways. I just seemed haven't learned enough from it yet.......

The positive thing: I respected my bullet system which prevented me from overtrading and my loss is small

I will skip my detailed debriefing on the chart. The above is enough to remember about my trading session of today.

It is also good to notice the huge different in relaxedness when I trade with respect of my rules and when I don't. It is much more fulfilling when I respect them and until now the results are much, much better when I follow my tradingplan

So let me reset myself and focus on a new trading session tomorrow and focus on my main task as a trader:
Executing my tradingplan as good as I can!

Have a great evening!


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  #48 (permalink)
NerradC
Perth AUSTRALIA
 
Posts: 253 since Jun 2017
Thanks Given: 79
Thanks Received: 87

Thank you @Hanneke
visiting your post remind me of important principles:
being vigilant to think about both directions and to execute my plan as diligently as possible.

cheers
DarrenC

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

Hi,

Thank you DarrenC (@NerradC) for your post. That is one of the reasons why I share my journey and to keep myself sharp and accountable to focus on doing the right things. I not always find it easy to be that disciplined, but I is a small price to pay to achieve my goal: To be a consistent, successful trader who can rely on earning my money and increasing my capital with trading.

The last 2 two days f.e. I found it hard to motivate myself to do the debriefings. After Tuesday I have traded the morning sessions of the DAX on Wednesday and Thursday:
- Wednesday I traded 5 trades, -1,8R and all bullets used
- Thursday 6 trades, +0,01R and stopped due to end of my trade session of that morning.
I respected my trading plan better then Tuesday, but in a market that hardly moves it is still a challenge for me to really wait for real good setups. I get bored when the market is in this market condition and the chance that I am afraid to miss a nice move increases with poor trades as result.
I need to change my mind on this point

My main insight of those 2 days are:
My trading plan doesn't work in a market with small sideway ranges, so it OK not to trade and there is no need to feel bored or let my state get affected about it


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


Good morning!

My Pivot Zone Analysis and Big Picture for this morning:





Procesfocus for today:
If the market is very trending: Only the RSI14 on the 15 min is an disqualification for my Spike-trades and be careful with OWL trades (countertrades against the trend)

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


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Last Updated on October 6, 2017


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