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This week I had 4 trades in this journal (2 live), 27 points profit.
Total results for this journal:
Tomorrow the June contracts roll over to September. I can’t trade on these days, as my data is not correct on these days (gaps between old and new contract). Have a good weekend
Friday the open-close had -294 points and the high-low 315.
My system only gives a trade in case the IB is long, which starts at 10:30. Which is good, so I can sleep an extra hour
IFO announcement at 10:00am, so I don’t want to have a trade running at 10:00. I have a separate file for IFO days, based on the 10:00-10:30 bar, but the results are not significant.
Going forward, this is how I'll handle IFO days:
** If the suggested trade from my normal work file is in line with the IFO file trades, I will take a trade (starting at 10:30). We’ll have to see at 10:30.
** If my normal work file gives a trade from 9:30-10:00, I will also take it. For today, this is not the case.
Today the IB is short, there is no gap and at 9:30 price is within prior day HiLo.
The normal workfile gives a short trade from 9:30-11:30. If the IFO file gives a short trade, I will take it. Have to wait till 10:29 latest.
Every morning I hope for a good setup, eager to get into a trade. After 2 years of trying all kinds of trading, it seems that I found something that is working, or better said, has been working over the past 6 months. And I got to the point that not taking a trade feels good and like the right thing to do. I guess that's the benefit of having your own system. Following the rules is kind of easy.
I'm still a bit sceptic, but for now happy with the results
This week I had 2 trades in this journal, 31 points profit.
Today the IB is long, there is no gap and at 9:30 price is above prior day HiLo range.
DAX Long trade
Entry 9:30 @ 15643
Exit 10:00 @ 15617 (SL)
SL 26 pts
Result -26 pts
Historical results with this setup:
202 pts (23 trades/win% 70%)
Because the first trade didn't work out, the 2nd is cancelled
DAX Short trade CANCELLED
Entry 10:00 @
Exit 11:30 @
SL 31 pts
Result .. pts
Historical results with this setup:
330 pts (16 trades/win% 75%)
Let’s see
edit 10:20: Not sure if cancelling the 2nd trade made sense. I could also think that the reversal (after the long IB) had already happened, and would continue further down. Also the kind of big short 930-1000 bar made me decide on cancelling. Not good, I let my emotions play a role. Have to come up with rules for these kind of situations
Today the IB is long, there is no gap and at 9:30 price is inside prior day HiLo range.
There is a trade for these variables starting at 10:30, but I have separate setups for extreme values.
The IB just missed an extreme threshold, so I’m in doubt to take the normal trade or not. Again, I’m caught up in thinking instead of executing. Will define how to deal with these situations, where the variables of one trade are very close to another trade, so I can just stick to the plan.