Tuesday

No gap. IB is long and ends inside the prior day HL range. Prior day OC was green and the day before red.

Not sure how to handle, when the price is moving around the open price. So I won’t take a trade today.

I have been looking for more dynamic ranges that for instance can work with an IB OC that’s only a few points, but I believe what we need are significant values.

Wednesday

No gap. IB is long and ends inside the prior day HL range. Prior day OC was green and the day before also green.

I let my emotions take over control, so no trade today.

Thursday

No gap. IB is long and ends inside the prior day HL range.

I don’t see good trades coming out of the system, so no trade.

Tomorrow also no trade because the future expires/rolls-over.

Results

This week I had 1 trade in this journal, 12 points loss.

Total results for this journal:

Monday

Friday was an extreme day (OC & HL). When applying extreme filters this morning, there are not many occurrences. Difficult to base a trade on. Combined with a long IB, there would have been a trade setup (6 trades/100% winners). But with the short IB not really.

So, no trade today.

Tuesday

Yesterday was an extreme day (HL). Combined with 2 prior red days the system doesn’t really give a good trade. It’s difficult with extreme days, mainly because of the limited occurrences.

The new tool we are working on would give a trade.
Only 7 occurrences in the past 12 years, but with a 100% win rate.
As I’m still testing the process, I won’t take the trade, but 7 trades all winners sound interesting, even more because entry would be at 11:30 (exit 12:00, long, SL min. 19pts).
Doesn’t mean too much, until this tool (or actually the process) has been properly tested.

Wednesday

Today we start with a gap up, that was not closed during IB. IB is short. Prior day green and the day before red.

That gives me only 1 historical trade…

If I ignore the 2 prior days, it gives 9 trades with 89% winners and 209 pts. That sounds good for a trade.
But then knowing that the 2 prior days OC were green and red not giving a good/solid trade (only 1 occurrence), that tells me I need to apply less filters on these kind of days. Without research, I don’t know what’s smart to do.
That means: Don’t trade

In the new tool, using the experimental filters, it gives only 3 historical trades. Here the same story, apply less filters.

Work in progress, but looking forward for some trades

Deetee 

Wednesday Work in progress, but looking forward for some trades

Keep on nailing the good things in your progress: Best thing to not throwing out good money.
GFIs1

Thursday

Today we start with a gap up, that was not closed during IB. Prior day green and the day before also green. IB is somewhat flat.

It seems like a short at 10:00-11:30 does have good odds, but as I have to leave now, I can not trade it.

Friday

IFO day. I don’t really have good setups for IFO days.

I am and have been working on setups for the new system. The past weeks I have been looking at both the old and the new system.
The new system is more advance and allows me to filter with more accuracy. Not sure yet if that is making things easier.
Both system work with slightly different rules, which often didn’t support me in picking a trade.
I hope to have the rules for the new system sorted out soon, so I can base all my trades on that and let the old system go.

*** Edit 9:28:
There is a nice setup now, not related to IFO days, but just Fridays. No gap and 9:30 price below prior day low, gives a short trade 9:30 till 10:30. Because IFO is at 10:00, I will only let the trade run till 10:00:

DAX Short trade
Entry 9:30 @ 15505
Exit 10:00 @ 15500
SL 35 pts
Result 5 pts

Historical results with this setup:
257 pts (15 trades/win% 67%) (till 10:30 295pts/73%)

Let’s see

Edit 10:07: After the gap with Wednesday closed so fast, I was a bit worried about the trade, but ended up just fine