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Was this stop loss level one of your rules or did you just have enough from the bouncing from the market? First the market went a bit in your direction and then it went up again against you, then came down again to your level, even broke your entry level and then the next move up started. This can be analyzed and seen very well on the five minute chart. As I did houndert of hours analyzing the five minute TF, even not like to trade it as it not did fit what I like, I still like to analyze the candles on this TF when following different, very good traders.
DAX short 9:30 to 11:30
entry @ 15642
exit @ 15662 (SL)
result - 20 points
GFIs1
comment 10:10 - low volume this week means higher risk. Will be the same until after first week 2020. Taking low risk means not trading these low volume weeks (as announced last week already).
As we see - some proofed rules are not working under those circumstances.
Good morning Symple
1) My model focuses on the 30m frame
2) The trade is started and stopped on predefined time upon the one pattern that works the most
3) Every trade is developing and is not steered manually: means "Set and Forget" setup
4) Patterns I just found - here for the DAX - are all in the 30m frame
5) I never use 5m as there are no visible patterns for half a day time frame for a trade
6) I can start a trade automatically on time, stop it on time and fix the SL - all in the morning
To sum it up - I am just following my rule for a certain trade: either it works or it is stopped out.
The main point is that the probability for a positive outcome is higher than being in the negative.
Plus I do not have to sit there all day watching price movements.
Wednesday trade
Second to last trading day 2021!
Thursday is last - I will not trade.
DAX short 9:00 to 16:00
entry @ 15961 exit @ 15896 (TP as announced)
result + 65 points
GFIs1
edit 9:20 - SL setting on entry: no need for a negative last trade here
comment 11:15 - as from my theory the money came into the markets Monday and Tuesday. Now as the limit of 16k wasn't reached and we see end of year: money MUST get out for some traders. As tomorrow the volume will be ultra thin - we willl see the 15900 line being tested. For sure
The down is slow: So I have set a take profit @ 15896 - the last peak of Chikou span
edit 12:15 - worked like a charm - HAPPY to see a good result on a difficult day!
Jumped out of the trade early because of time restriction.
In fact the predicted trading times in the morning stated the exact highest and lowest time point on a fix 30m base:
Getting out 16:00 @ 15839 as the rule said would have given 122 points which is nearly double my gain without my set TP.
Just happy to see that my rules still are very accurate.
GFIs1
