Euro Stoxx 50 Trading Journal

Hello,

I trade the Euro Stoxx 50 intra-day using the 5 min charts. I really can't be bothered writing some long story about my trading career or reasons for posting a journal however if you want to ask any questions I will be happy to answer them. I have tried to write a weekly online blog of my trading activities in the past but I found it was just too much of a chore and I really didn't need the additional workload. Hopefully this thread will be less of a burden to maintain. Anyway enough of the BS here are the main details from my trading plan.

Markets Traded: EuroStoxx 50 (90%) FTSE 100 (10%)

Time Scale: 5 min

Live/ Demo: Live

Risk: 2%

Entry Conditions:

- Significant area of S/R on hight TF
- Confluence with Fib levels
- Confluence with Pivot levels
- Confluence with Trend line S/R
- Candle Stick Confirmation (Pinbar, Sidebars ect.)

I do not require all the criteria listed above to enter a trade. I will identify key levels prior to the open and then wait for candle stick patterns to develop at these levels.
However If I identify a level which has many of the criteria above and I deem to be a high probability of success then I will fade the level without a pattern.


Trading Rules:

- Stop to be 8 ticks or placed at extreme of pattern
- If Trading against a strong trend will get out a first trouble area (200EMA)
- If trading with trend scale out at 50% and trail stops manually
- Do not trade right into a major S/R level

Drawdown Rules:

- 2 losses in a row (4%) - Stop trading for remainder of day
- 2 Days in a row of loss - Stop trading for remainder of week

Some key Levels for the week ahead;



Last weeks price action was fairly range bound and almost an inside week until Friday were it closed up above last weeks range and on the weekly
chart it closed up at a level not seen since the middle of August.

I won't attempt to predict were price is going next week however I do believe that Fridays close is significant and should come to the attention of market
participants trading on higher time frames.

Update;

Only one trade yesterday...............