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Tues (5/8) -42tics - should NOT have traded as I was completely buggered after my bike race this morning and needed sleep more than trying to daytrade the HSI.....I knew I was under the gun with low concentration levels that were just not there and struggled to try and make it back to after the initial losses....next time I'll just take the day off as your likely to lose if your not in tip-top mental and physical condition for this game.
Wed (3/3 +90tics....it's amazing what a good nights sleep can do for your body & mind.....done < 45mins today as per attached chart.
Thu - (0/2) - 120tics - trading at 3 contracts -
Well - if your head is not in the game dont play...I fractionally missed the first trade but the market moved too fast for me so I blew a gasket and lost the plot.. and re-entered for a loss then shortly after lost my patience and paid the price...2 losses means turn it off and reset for another day...both trades are actually errors - 1st trade stop loss is too close and 2nd trade signal bar is shite!
Friday (8/9) + 123tics had a little chat to myself before the market opened (may be I should do this every day before trading?) - to focus and keep my shit together....well the proof is in the results...best trading day in ages.
M - +24 tics (10/17) Brutal loss of concentration - should not be trading honestly..fought back from 3 losses..broke all the rules
T - +69 tics (8/13) - frustrating as watching a very fast market in the morning after comments on the China US trade deal imploding with no good set-ups..
W - +93 tics (7/9) - much better after the monday/Tuesday fiasco's.
T - HK holiday - Dragon Boat boondoggle! Had a few friends who took this seriously when i lived in HK
F - 3/3 - +90tics - perfection. Nice to end the week strong.....time for curry!!
I trade the PATS set-ups that Mack has described.. so as per my earlier posts I've adjusted my preset bracket orders to 10tick profit target(per contract), 20tick stoploss for the HSI..
ES setting is 4tick Target + 8 Tick Stoploss if that is your market of choice..
I write down a code (trade abbreviation) in my trading diary for every entry I take.....so today was:
1. BPB (Breakout pull back)
2. F2ES (Failed second entry short)
3. 2EL = Second entry Long.
I've been brainwashed by Macks intraday methods and hence don't trust any other entry set-ups (it's funny as I can see them on daily charts as well and they seem to work) .....the beauty of PATS is that you can "anticipate" a pattern and wait for the set-up.....whether that is during trending or range-bound markets there are set-ups.....you just have to "adjust" to what is on the screen.
Though to be honest given I've been doing this daily now for 2 years (400+? days) you certainly start to get a feel for it and even today the set-ups looked very easy to take but my "gut" tells me to pass on certain set-ups as I've been burned on them before etc....this sort of intuition I never believed in my earlier trading days when I was searching for mechanical holy-grail systems (i.e that don't exist) but now with some experience you kinda get a "sense" after watching the "price action" everyday for so long. When my "head" is in the game and focused like today it seems easy but can be very frustrating otherwise. I've had a few battles this week with myself that I need to work on.
SCHOOL HOLIDAYS - AGAIN - FFS!!!
Shortest Term ever last term like 5 weeks here in Oz Queensland....a sad joke really.
I'll try and trade when I can for the next 2 weeks - this morning took the Daughter on a local bike ride and finished up with a Strawberry milkshake locally, then raced home to trade the HSI....missed that F2ES signal in the first 10 minutes but didn't worry about it as 3 good trades turned up in the next 40minutes
Results - (3/3) + 90tics - done and dusted - luckily wasn't too distracted by the Daughter playing Roblox in my office. Might have even improved my patience. If the Son was in here completely different story
Trade patterns:
1. F2EL - "Failed second entry LONG"
2. F2ES - "Failed second entry SHORT"
3. F2ES
Interesting week with the kids at home....a few distractions. Wife's health has not been that good lately which is a bit concerning.
M - (3/3) + 90tics
T - (7/9) - +50tics - late entries are just NOT worth it....1 error
W - HK holiday - spent time with the kids.
T - (4/5) + 91 tics - 1 dumb error. Market moved too fast to move my stop loss -
Fri (3/3) + 93tics - perfect...good patience - learning to really trust my "GUT" on trades - comes from lots of trading of course And getting "burned" of course as Macks terminology!
Patience is the KEY!!
About to lodge the tax return for my stock retirement (SMSF) account Interactive Broker says +18.5% for the FinYear here in Oz..SWEET!! Beat my old Superfund by +25% - I hate Superfunds - bunch of overpaid