EDIT: it didn't and caused me some pain, not taking profits, significant losses that I made back after cooling my head down and waiting for the right moment.
Not much today, took some heat (and a hit) on GBPNZD, wasted some time to make it back, then focused on the dow when it became a bit clearer but got frustrated not to buy the lows as level was not reached. OK with not chasing it and instead waiting for some clues for the breakout north as the flag count was done and the structure ready to give.
Finishing the day at +20%, it will be soon time to close all positions and start a fresh account. This is a satisfaction. Closing now would exceed my target but I find it difficult. Pure greed, this is. Human lack of logic, knowing it and not doing it.
Will close all after the server hour break, complete nonsense to be aware of a situation and the feelings tied to it and not take action. It helps writing it. I guess this is what a journal is about.
OK, closed 4 out of 5 positions for a total of exactly 2200 points.
Will take a step back and leave the last one running to see if it can travel and will enjoy FOMC relaxed.
Brought a 300$ account to 5400$ in 7 trading days, not quite sure how many % that is. Says a lot about the benefits of a clear trend but still, the most important is that I had a plan and applied it.
Will wait for the last position to develop a bit and start a new account to try and continue growing it.
"For there are two rules to keep at the ready — that there is nothing good or bad outside my own reasoned choice, and that we shouldn't try to lead events but to follow them."
Did me well to close all Dow longs before today. First time I am flat for a while, feels good. +8% today, some good trades, some less good, too messy executions.
I don't know what to do with the Dow right now. I had 26110 as a first (shared) target, which was hit to the pip. Very easy level. Some harmonic action there too, sent the thing 300p down (harmonic target 24850), but somehow I don't trust it. Too obvious. Too many retailers are still short. Yen didn't budge. Dax has not reached its level yet. Looks fishy. Would like to see the action overnight to see if a buy a tad below 25800 is available (chart1) but the brain needs some rest. If the move down has started, it could go fast as demand on Daily has been consumed in several spots. Looks compressed overall (chart 2).
somehow I don't trust it. Too obvious. Too many retailers are still short. Yen didn't budge. Dax has not reached its level yet. Looks fishy.
Ignored
What he said. Poor sellers... No action for me, transfering account as planned. Shame, entry area was textbook. Next time. Might buy the retrace if today is a wave 1. Needs to end first to see where and if there are any good confluence to limit the SL size and go heavier for wave 3.
Dax woke up a bit, now that EU has finished its nonsense, exactly as suspected. 11900 I'd like to see, probably higher but then I will start to watch closely correlations.
Friday was a good illustration of how unfruitful it is to force a bias. The strong move up on Dow on Thursday was a tradable retrace that I interpreted as a bears trap into effect. Although having a solid stance on what might happen next is important to get into a trade with confidence, it is as important to adapt and take a step back when the obvious is rolling out. Not fighting it. This is trading 101 and still, even after years, the mind can still get trapped into a judgment tied to emotions. This results in undesired outcomes and not being able to see clearly and take the path of least resistance.
So it could be that a cycle has ended earlier than I thought, Dax turning 100p before the level I had in mind and things are developping on the downside for now. Different factors are aligned to confirm some weakness and maybe a yen market phase.
It is now urgent to wait as I cannot find a clear path ahead. We are not too far of the monthly candle formation. Scalps will do in the meantime, the easy always works.
"The diseases of the rational soul are long-standing and hardened vices, such as greed and ambition — they have put the soul in a straightjacket and have begun to be permanent evils inside it. To put it briefly, this sickness i an unrelenting distortion of judgment, so things that are only midly desirable are vigorously sought after."
"Two different characters are presented to our emulation: the one, of proud ambition and ostentatious avidity. The other, of humble modesty and equitable justice. Two different models, two different pictures, are held out to us, according to which we may fashion our own character and behaviour; the one more gaudy and glittering in its coloring, the other more correct and more exquisitely beautiful in its outline."
Focused on Dow after London close as I do not have much time at the moment, but it seems to be enough considering the volatility. One FOMO entry but quite happy with the exits. +774p in total.
Happy with Dax trades today. I am progressively getting a better grasp of the geometrical structure and pace of the market, which makes trading more relaxing and rewarding. It is also puzzling at times how well organised it all is.
Some fine scalping today. She took her time to pop. It is really impressive how perfectly engineered this all is. The reading of the market is getting better and better. Entries and exits are close to limpid now, but still way too much greed and ego. Leaving too much on the table. Better than blowing an account but still something to work on.
Will post plenty of charts, forex, indices, commodities, cryptos over the weekend and accross different timeframes to illustrate how perfectly tuned the market is. No stop hunts (if anything price turns slightly early sometimes, rarely overshoots), no news BS, it' all geometrical and computerized. Once you get a good reading and understanding of structure and price action, just find the levels and grab the popcorn.
