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Last Friday I struggled with the same challanges as the days before and I could resist myself taking trades anyway.
5 trades, -0,87R
I also felt frustrated when I saw what happened in the afternoon and evening with the DAX: The DAX went up and closed above R3.
The positive thing was that my PivotZone analysis was correct.
@GFls1 posted on his thread some good rules to remember.
His rule number ONE:
Never look back
Thanks for reminding me.
I have chosen to mostly trade the morning session. That you miss a move, that is part of the deal.
Sorry that I am not posting my charts with my trades. I am not in the right flow unfortunately.
7 trades, all 4 bullets used & session time over, +0,08R
On Monday the DAX was moving is a small range of less than 50 points in the morning and this kind of market doesn't work for me. The main problem is that I let myself being affected by it and search for trades, start hoping for that big move etc.
So I didn't trade with the right traders mindset.
Also the fact that I feel bad after such a trading session implies that I am to much involved which is also not the right traders mindset. The market does what it does and has nothing to do with me personally as we all know.
I create this, that bad feeling, myself.
I am getting a little frustrated that my avgR is going dow since I am trading in SIM and live again.
It went from 0,65R and a nSQN of 3,69 to 0,41R with a nSQN of 2,77 after 83 trades.
When I just look at the SIM and live trades (46 trades) my avgR is 0,18R with a nSQN of 1,52. Both are below my target.
28 trades of the 46 trades are made in a very slow moving market with an argR of -0,15R (-4,2R total).
So looking to the facts, there is no reason to feel bad about it and get frustrated.
What I need to do is to find a way to deal with this kind of market type.
Some options:
* Research more on how I can identify slow moving markets quicker (suggestions are welcome)
* Learn other instruments to trade as an alternative for the DAX so I can choose
* Alway have a list of other things I can do easily while monitoring and waiting for real low risk setups
On Oktober 3th the DAX is closed. A good day to finally start testing other instruments to trade. I have been postponing that
The DAX opened today above the previous long term SWING HIGH of 12.955,55. This will be an important location today. It can be a resistance level or support level today.
Due to the challenges I faced in controlling myself during the last 5 trading session with a DAX that moved very slowly and sideways, my proces focus for today will be:
If the VWAP is sideways and the price is fluctuating in a small range around the VWAP (ca 40 points), don't trade. This is not the ideal market type for me
I have decided to postpone live trading the DAX for a while and fully focus on getting myself qualified for TST. So now I am testing my trading plan on CL since I cannot trade the DAX during the qualification rounds.
If necessary I even have to use my time also to test other titles.
Since time is one of my most important resources I decided to change my focus on what will help me the most in achieving my outcome. It will also help me improving my executing skills.