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DAX Journal and trading the European Session
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DAX Journal and trading the European Session

  #1 (permalink)
Trading for Fun
IJsselstein-Utrecht - The Netherlands
 
Futures Experience: None
Platform: NinjaTrader
Favorite Futures: DAX (CFD: GER30)
 
Posts: 88 since Feb 2017
Thanks: 56 given, 312 received

DAX Journal and trading the European Session

Hi every body!

After joining the Journal competition in July 2017 here on Futures.io, I decided to keep doing this.
For those who missed that thread: https://futures.io/trading-journals/42583-journal-trading-competition-july-2017-focus-top-tasks-traders.html#post647273

My challenge is to become better and better in executing my tradingplan and become better and better in the 13 tasks of Top Trading

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Since I ended in the Top 3 I won a free Combine account with @TopstepTrader....... but I have a challenge.... I cannot trade the DAX to get qualified so I need to trade an other future as well. I don't know which one, but I must be one which can be traded during the European session. Suggestions are welcome.

So happy trading for you all with Grace, Ease and Joy!

Hanneke


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Quick Summary
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  #3 (permalink)
Trading for Fun
IJsselstein-Utrecht - The Netherlands
 
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Favorite Futures: DAX (CFD: GER30)
 
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BigPicture August 2nd DAX


Good morning!

My Big Picture for this morning:

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I enlarged the tick chart. See the number of D's that haven't been reached in earlier downtrending channels (black and purple). This can be a indication that we will go further up again on the long run. Time will tell.
For the short term let us first see if the price is able to reach the light blue D

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ADP numbers today in the afternoon, so it can be an quiet morning. Let wait and see.

Proces focus for today:

Be Patient and selective. My Job is executing my trading plan!

Happy Trading to You All and Trade with Grace, Ease and Joy!



Last edited by Hanneke; August 2nd, 2017 at 04:13 AM.
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  #4 (permalink)
Trading for Fun
IJsselstein-Utrecht - The Netherlands
 
Futures Experience: None
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Favorite Futures: DAX (CFD: GER30)
 
Posts: 88 since Feb 2017
Thanks: 56 given, 312 received

My trading of August 2nd 2017

My trading session of Yesterday morning wasn't one to be proud of.
To many examples of not being patient and execute my trade plan in the right way.

Initially I acknowledged that and took a break after my 3th trade around 11:20.
Normally that would also have been a good moment to stop trading especially because I would go Jumping with my nephew and niece in a large Jumpsquare, so that I would have had time to do my debriefing.

I didn't. After the break I came back and just jumped into a trade..... instead of doing that on a trampoline

Well... I ended doing another 3 trades with one that I let run when I really had to go or else I would have been much to late to pick my nephew and niece up. I let that one run with my SL attached to an indicator. This had also nothing to do with executing my trading plan......

So 6 trades, bullets all used, -2,14R.

I will post my trades and debriefing after my trade session of today.

Hanneke

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  #5 (permalink)
Trading for Fun
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Big Picture August 3th 2017

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Yesterday I didn't act in line of my intention of the day. I really need to be totally committed to it otherwise it are just words.
I want it to be a guideline for my actions, so I need to ask my self: Am I going to commit to my proces target of today?
It will only work if I can honestly answer is with YES.

Proces target for today:

Be Patient and selective. My Job is executing my trading plan!

So.... am I going to commit myself to my proces target totally today? YES

Happy Trading to You All and Trade with Grace, Ease and Joy!

Hanneke

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Hanneke View Post
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Yesterday I didn't act in line of my intention of the day. I really need to be totally committed to it otherwise it are just words.
I want it to be a guideline for my actions, so I need to ask my self: Am I going to commit to my proces target of today?
It will only work if I can honestly answer is with YES.

Proces target for today:

Be Patient and selective. My Job is executing my trading plan!

So.... am I going to commit myself to my proces target totally today? YES

Happy Trading to You All and Trade with Grace, Ease and Joy!

Hanneke

You have a lot of information going on, how do you do it, whats your technique?

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  #7 (permalink)
Trading for Fun
IJsselstein-Utrecht - The Netherlands
 
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Favorite Futures: DAX (CFD: GER30)
 
Posts: 88 since Feb 2017
Thanks: 56 given, 312 received

Hi @Grantx,

Thank you for your question.
I can understand that all the lines can be confusing. The 576 tick chart is my Big Picture what is telling me where on the 'road map' we are. I use primarily trend channels (TK I call them in my logs) and Pitchforks to know what the main trend is.
By keep on drawing new trend channels when ABC are set I expect the price to go to D in the trend channel. If that's not the case, then I expect the price first go to the warning line and then to the parallel trend line.

So I mainly use them to see if the trade location for my setups are ok and to see what target is possible (although I always go first for 20 or 30 points on the DAX (= 2R or 3R).

The pivot points and round numbers of the DAX are also important target and trade locations for me.

The lines in the 5 min chart helps me to identify trade locations on a lower level and always thing in 2 directions. The vertical Red and Green lines mark the price zones were the yesterdays low and high are. In the Red zones I should primarily look for shorts and Green zone for Longs. In the zone between them I alway must be prepared to think in both ways.
The bleu line in the chart has the length of the RangStat. Base on statistics I should not be surprised of the size of this range. So when the market is trending, I move the blue vertical line to the high or low of the day and I can see what is possible. It has often kept me from thanking to quick in taking a counter trade after a big move.

To enter a trade I have different setup rules for a countertrade, trades from a compression and trades in a trending market.

So the big picture (this is more discretionary) is my road map, my different setup rules are used to enter the trade. The combination is most of the time a real Low Risk idea.

Remember: I am still learning to get the best out of my BigPictures and helps me to wait and be patient..... but this is still a improvement point for me. I am still often seduced to enter a trade just based on my setup rules.

In my Journal log for the Journal Competition of July, you can find some great examples how well the geo of the BigPictures could have worked (https://futures.io/trading-journals/42583-journal-trading-competition-july-2017-focus-top-tasks-traders.html#post647273).

I hope my answer clarified your question a bit.


Last edited by Hanneke; August 4th, 2017 at 04:13 AM.
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Debriefing Week 31 2017 DAX

Well yesterday and also almost everyday were not good trading days for me.
And even with all the best intentions and defining valuable focus targets, I really screwed up this week.

For those I also read my Journal of July, will have noticed that I didn't report any daily debriefing.
I even had to reconstruct the setup that I took because I hadn't alway logged it.

I found it hard to report my shortcomings and report the trading mistakes that I keep on repeating.
It is much easier to do all the hard work when my results a good and on which I can be proud of.

So I will not upload the charts of my trades this week because it will not add anything at the moment because the momentum has gone.

My results of this week expressed in R (1 R = the risk per trade = 10 points in the DAX = Ä30)

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The R-distribution last week was still good enough to qualify for TopstepTrader. Now it isn't anymore.

Since I completed 100 trades, I will do a more extended evaluation. With just +7,24R over 100 trades and knowing that I made a lot of trading mistakes, there must be several thing that I can implement without changing a lot and have a positive effect on my trading result and my trading behavior.

I already thought about some points I want to look at:
- My proces focus/targets
- What would have been the result if I had respected my bullet system (= a risk management method that I use)
- Which setups had the best results and what are some improvement points
- What would have been the effect if I had executed my abort exit rules and profit taking rules better
- How can I benefit more from my big picture
- What would have been the effect if I traded mainly with the trend in the Red and Green zones
- On what locations do my counter trade setup work best.
- What do I need to change to be able to execute my trading plan much, much better

Because the downtrend in my results last week, I am going to take the time to do this properly.

So have all a great weekend.... you know what I am going to do


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  #9 (permalink)
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Been there done that for sure

Hey just wanted to say don't be discouraged! Truly the only failure is if you don't learn anything from it. You are headed in the right direction by digging into the data of your trading and looking for what you can do better. It seems many of us are bound to make similar mistakes over and over until we realize that they will never really pay off and we hopefully build up our level of discipline. I still have much to learn and build into my trading. Have a great weekend!

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  #10 (permalink)
Trading for Fun
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Platform: NinjaTrader
Favorite Futures: DAX (CFD: GER30)
 
Posts: 88 since Feb 2017
Thanks: 56 given, 312 received


Thank you @Mightynorsman for your encouragement.

This artical came to my attention: http://fxrenew.com/forex-blog/traders-sabotage-success/

It gave me some good questions to ask myself while doing my analisis:
"........., here are some questions and considerations that help avoid sabotage:
Does this approach make sense?
Why does it work?
Can I strip it down to the basics even more?
If you can uncover the principles behind what you do and why you do it, you will not even need to backtest your method. You will simply need to wait for the situations where the conditions are met."




Sent from my iPhone using futures.io

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