Missing a good day, but better safe than sorry!! Had to have the kids for a bit anyways, too hot to trade off mobile device and have kids!! Loads of nice entries worth serious pips aswell on the DAX! Must get back to, it's breaking down, this looks wrong, EXIT, then 5mins later get back in rather than hold 20-30ticks into the red then average down!! DAX just broke down, but downtrend so shouldn't of been reversing longs anyway, but counter trend trades near the outter 100ema envelope work 95% of the time, so tricky, tight SL required I guess and instantly.
+10ticks over all, that was, 2 actual ticks. BAD day to melt down, I complain to rarely seeing a good trend day and there was a 100pip move there, with many good safe entries doh!! Rest, get head back together, back on it next week, pushing myself to hard, made a weeks wages in 1 1/2 days. So Counter trend extreme range plays, more patience to stop catching falling knives, then a tight 10 SL, only take a 2nd position if it's been stuck around there for a fair few minutes. ideally 5 pips under prev low/high! Easy, stick to the plan fool!!
Okay debrief!! The UK100 Long, doesn't read as that big against me, the main issue was I had the wrong number in the Lots size, so I was trading at $16 per pip, cause it's a UK traded at base doh!! Drop to 60! First trade was -22 area worst, yes I kept moving SL. But hey, STOP IT!!
Setups wise, IF I relax and trust my Trend direction basically on DAX. Opened Sub 9600 already down trend Then 6550 support, Long with a tight SL worth 25 Quite a few downtrend entries using the 26 range mainly. A few counter trend plays, but get greedy get BURNED!! Then market goes flat, playing the chop, playing the chop in out few scalps. MY ISSUE :- Then I'd of likely been long from 9500 on that down move. Then 9490 pausing, just extending it's chop range, 2nd lot The holy spike down, ohhh coming back fine, down down down DOWN ouch The SL at outside of 100 range would of cost me -25 -13 so -38 ticks which is OUCH, enough to get me emotional and move SL and average down, -25 more on the table so upto -90 area in total if I do that. 1pip spread, 1st and 2nd trade where good, but SL needs to be on the 9490 support breaking or my inner 100ema Envelope, then -20 area in total, liveable. 9450 puts in a good base, I'd long of that, tight SL, took +20 maybe. Then 9490 becomes resistance top of 26 Env, Spike to just under 9500, which sells off nicely, downtrend is still in effect. SL is about -15 and -10 that's in spec, profit +15 +20 worth it. I could trade tops of the 26 Env, with a sub 10 SL and go 2x's Size easy. Huge profits today, chart attached with where my main issue is, markets have been slow and not an issue until this week, they've kicked up a notch, need to adapt!!
Basically, the range bound, rarely losing ever days are over, so need to accept more losers and keep a tight leash on the size of the losses. Shame I like rolling 15 profits in a row, but hate giving it all back in 1 trade so needs must. Until the martkets calm down again, low volume summer Doldrums most likely, more erratic lower the volume generally so September all back to normal maybe.
Didn't fall for the breakdown, looked like a downtrend move. Sadly not taking the on trend trades, worry to much about the short term 26 direction, it's not that strong, and I'm playing the range so downtrend continues or back to range I profit, good odds on a soft exit if it turns to. Get confidence back, back on it next week.
WHY OHHH WHY DO I BOTHER!!! Nice little setup, looking good, uptrend, pull back yeah easy, 56 seconds literally I've worked it out for a 17pip hair cut LOL Break down, was sub 3seconds after I got in, sweet!! SL of 43, low of 40 and nearing BE LOL ARGGGHHHHHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!
well atleast current trading is lasting longer than 1min Wish I'd of took +7 tanking, shiteeee why am I still typing this