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I am in love...yes, with markets , I dont celebrate valentine`s day, but I will make an exception. I didnt reach my daily goal, I did only 2 trades and I am slowly transforming on higher TF...but still using 3rb. In this short list of my notes I have to highlight reducing my trades, waiting for "A" setups, which gives me best results and I took one of this setup today.
trades
nr.1 was in sign of thinking and not following market speech. So I paid for my inattention with loss. This drives me crazy, I know that it is big mistake in my behaving, but I do it in loop repeatedly.
nr.2 this trade was according to a plan, I waited till price on higher timeframe made a bounce from EMA50, the process was straight, no need to move sl. I felt in this time some kind of nervosity and then the move...wow , but I had no chance to jump in, so it was end of my trading for today, no big laugh, no tears.
I have been thinking during weekend about rating each trade, day in scaler from A(perfect) to D (bad) rate. It might help me to better distinguish which way follow. Yes, I inspired here My journaled journey to success , there is a post from Big Mike, I thought about it many times, but never did it. It is few seconds above my daily routine, so why not to try it.
hello pals,
how was your day? I was trapped into oversold market in last hour on CL and got some shots, but without profit. Very difficult and tricky market for me. I could be happy, that it was not a huge loss. Lets have a short look on trades.
trades
nr.1 first trade was maybe too soon, on higher t-frames I saw still some space for correction, but I had a bounce price from EMA50, so I jumped in. Exit was on moved sl.
nr.2 It was better timing to go in, but market didnt have enough power to push it more down, rounded number (84) decided which way it will continue .
Thats all from me..or not. I changed my rule about checking daily reports, I will do it always day before, so what will come tommorow? I am prepared.
very boring day, 1 loss, lack of action..I was prepared for fomc, but nothing happened.
I hope that next half of february will bring more positive results for me, I have to stay patient - 1 hour of trading, especially last hour is not every day jackpot.
What I have done today... I was chaotic, dont know what happened in my head. I took trade into the countertrend as a blind. I changed many times t-frames, added and removed couple indicators, then I drew somehow trendlines, missed 2 strong "A" setups, still thinking about shrinking my accumulated profit during this month to beatiful round ZERO , which scares me because of repeating result from last months. I know what to do.. but I feel, that I should stop writing this, it is not positive way of behaving, it might infect you .
Trades
nr.1 this one didnt work, but it was a good signal and moved stop loss reduced loss to minimum
nr.2 and here we go, I dont know where I got this signal, but it was in direction of countertrend, fast full stop loss
nr.3 missed
nr.4 I took this on the border of supply zone, but no power to move it into profit zone.
nr.5 missed
I have to go to a gym, or maybe I will run at least 10km, maybe more to clean my head . I defenetly need it.
R.
I promise, that next trades will be according to a plan, better with results in profit and no more excuses.
Can you tell us your plan for accomplishing this? I don't think it is enough to just say "I will do it", speaking from experience here -- I need lots of little reminders and help. Post-it notes next to your monitor with three or four words on them to remind you of certain things can be helpful, like what not to do in a trade, or when not to exit, etc.
during friday I was very upset - lot of nice moves and I did only one trade with 0$ result. But I didnt have more clear signals, so I stayed away.
Yes, Mike, good point. I have to get some post-it papers, I am writing all my notes to paper notebook, but sometimes it is necessary to highlight promises, orders, points to hold the way of plan. This is one way, I am going to use also another process - I made simple table in excel, where I insert all trades and I compare it with possible results according to a plan to see how much $$$ I could achieve if I would play the game as I should. It is really motivating, I can see that my trading strategy works in perfect condition like I wish, so this could be the best tool. We will see, but I am not going to bend aside. Too many mistakes in a row, I am thinking what is wrong with me, I have to figure out it, it is eating me.
To all traders and american buddies I wish nice day off tommorow
Don't you realize that Holidays are a Traders worst days! haha..
Ever since my wife and I started trading we dislike Holidays. Actually I have always been like that since being an Entrepreneur as I guess the "German" part of me always likes to work.
Keep it up. You have a very clear method and you seem very well balanced.
I am glad for holidays, I have had dreamless nights last couple days, because of my behaving in markets and I was scared how this will continue..but sometimes more time without markets could help to organize all thoughts. I have to say, that I am still not sure about my method, if it suits me, but as you can see I am doing newbie mistakes day by day, so it is me, not a system, who is the main element of this never-ending self disaster. What is most difficult for me, is to realize what am I doing and what I should do . I bought post-it papers, so I have lot of reminders, which could help me to hold on my path.
My wife tried to papertrade on intraday market without any knowledge and she was really good in it, but she likes more creative work. So I dont see there her future .
btw. I am working with german gentlemen and I have to say, that I like their "punktlich Arbeit" (precise work methods) . It is learning me to be really particular - when I am not, they exclaim quickly.
And the last thing about holidays...two years ago I worked 7 days a week, more than 13 hours daily, no holidays, it was cruel and I have checked, that sometimes less is more. And I would like to continue with it in markets too .
So have a nice rest of a day ( I hope that it must be really nice on Hawaii )
Less is more only in some things in my opinion. Trading yes, my kind of work, well... I was 7 days a week 12+ hours a day for many many years. I loved it. I think it depends if you are doing something you truly LOVE or not.
Now that the economy is still a train wreck (not that bad really) there is too much free time for me. Back to the charts! haha...
Good trading and keep with it. With repetition comes near perfection.
so I am done for today. Almost hit daily goal, but one trade missed, which would bring me to my perfect-traders heaven...just for couple minutes . During my session market went up, so I was looking only for long trades. Full of optimism, no stress and enough concentration - this was my positive properties for today. And I feel, that it might remain for next day too.
I re-wrote my plan, didnt make changes, only better explained to myself all steps. When I looked at my first page of this journal, where I describe my trading method, it is really in shortcut and couple points dont make a sense to me..in couple day I will update it.
But now lets go back to my trades
nr.1 i took this trade on the second pullback after crossing ema50 on RB6,RB12, but there was not enough action. When I finished the trade with moved sl according to a plan, it moved strongly up.
nr.2 I canceled this entry, it turned down and up very quickly and I was not able to jump in. I dont like to enter trade later, when I miss my entry point. I take this as a mistake - missed trade
nr.3 after new cross price above EMA50 on RB6 I saw this strong pullback and jumped in. It gave me a little bonus +3 ticks slip on PT.
I was looking forward to take another trades, but no more signals. Now we have nice movements almost all trading time, but I feel, that my weak place will be during less activity.