Plan the Trade

Fast work. Dropped like a rock.
Hope everyone has a great holiday time.

123 pb missed by a tick

nice ras there was one before for maybe 11

valley low at 58

Not sure if all markets will perform the same, but my overall view for the Dax, in particular, is the opposite of the good ole 'Christmas rally'. I think it will sell off into the early part of the New Year, potentially back to 12K...



The great thing about shorting such moves, is the old 'up the stairs and down in the elevator' adage. You don't generally have to wait long for your money!)

Do you see you b area that was demand for that up move then pulls back to b for HUGE move

It's a beauty isn't it?! That's on 1000 tick. The whole system is scaleable.

It was the move that i meant in post 3863. The bounce off of the 61.8% retrace was awesome, but it takes the EW view and labelling to realise that it was a 'b' wave (as i mentioned before, wave 'b' will usually retrace a fib level of 'a' regardless of what set it is in - and the most common is the 61.8% fib). The target will be fresh highs in a 'c' wave.

The reaction the day before made a nice LOD extreme too;

Quiet in here today. Everyone gone for Christmas break? I had "Trade Mindfully" by Gary Dayton delivered yesterday. I'll read it this break and let you know what I think. Anyone else read it?

See you all next year! Enjoy the break!

Grabbed 40 on first trade then went Christmas shopping

Nice. Chart?

In walmart

We had 2b break at 937 pullback at 06 went down 12 came back to high 550 my stop at +1 was 575 and it just dropped

finally back from shopping heres my only trade a 2B BREAK PULLBACK

top work H .. i took that trade for +1 shame

Almost got stopped out for +1 it missed by 1tick and dropped

I have read the book a few months ago. It is quite long and despite my early excitement, it turned out to be a pain to read through. Hope you'll enjoy it more than I did.

looking back at yesterday .. 123 break pb at poc gives plenty:

and again around 1230:

it might be a dreadful day very low volume hardly any movement if I don't see anything happen in first 20 minutes I will shut it down. as for the cristmad new years week I will look everyday and if volume is there I will trade otherwise jan 8th will resume business

I could not trade yesterday, through other commitments and see a nice missed opportunity on the Dax;



I'm fairly sure i would have taken a chance off of the line if i had already seen the 38.2% retracement Fib lining up with the prior Support, now likely Resistance.

I think that is the key words - 'i'm fairly sure', cos it's not actually 'the plan' it's one of those trades that comes along from time to time to create a basic profile line, similar to MP. Combining two factors increases the likelihood of there being a worthy reaction clean off of the line.

I was going to write a piece earlier reference the books being mentioned.

Basically, i've come to realise that there are phases that we go through along the way to success. Firstly, i can recall learning several methods or patterns that have a great success rate, going back several years. If i could ever have concentrated purely on those and those alone, i'm sure that i could have achieved reasonable success already. But there lies the problem. Having the discipline and time to wait and find them.

While waiting, you end up taking all manner of different trades and the loss rate stacks up. It's difficult to sit in front of a screen and not trade. The desire to be in a trade is strong, hence why we do it at all.

So we spend years gaining the knowledge necessary to be able to find a method which is firstly, successful and secondly, common. This can generally be otherwise known as 'experience'!

By trading something like the Nasdaq which moves as much as she does and trading the set-ups that we look for, there are usually several within a couple hour session.

The final frontier is not learning the system anymore, it is preparing yourself mentally for trading. That is it! I have had real problems with insomnia recently and that has led to general fatigue, heightened anxiety and depression (it's a long story, i won't go there, but it is linked to why i took almost all Summer off)...

Anyway, my point is - that this system works and it works well. Last week, when i got on the wrong side of several trades in a row, it was the market doing what it does best - toying with you. Showing you two winners to re-install your confidence followed by the losing trade (the one you plucked up the courage to trade).

So, you start off badly and then go into the cycle of picking the losing trade each and everytime. I think i showed in the chart at the time, that the PA had changed and kept pushing on past the usual entry, giving you a series of +1's or failed false 2B's, but at the same time, still throwing in enough winners to be a profitable day... therefore...

The problem was not even the trending of the day, it was my mind's inability to take every set up.

I'm finding that generally the Dax is behaving at least as well as the Nas. Sure it throws up some losers, but keep trading each pullback and it has a canny knack of reacting at the pins that you were waiting for.

I feel like i'm in that final frontier. The transition from being capable of making money into actually doing so regularly, but for sure.... the only thing stopping myself, is myself!