My Dax Trading

Been trading this 1min / 5min idea since may. On ninja made over 20k a month for two months before going live and cutting my live acc in half. live trading is just so different mentally. thought ibe good to keep a basic dairy of how it goes. last three weeks i haven't lost a week and only lost 1 day. trading the same live fxcm acc but on much small trade sizes.

method price based. trade fails after trend changed. a fail to me is when i try's to reverse but fails and continues in the same break out direction. only trade the 1st hour lon open 1-8 trades a session looking for 8+ pts then stop for the day.

mainly trades and thoughts posted. more for me then anything.

yesterday, fast long 20 booked then decided to close up for the day. even though there where a heap on offer 20pts so quick is a rare gift.

Tonight.

fair bit more challenging tonight. made a few stuff ups but overall made a profit. two of the losses were sure bad ideas. hard part is with scalping is keeping your mind in check... the rush and pain of being up to down. you have to grit the teeth and just wai for the next set up.. take it with out thinking and hold for the amount you need.

plus 8 for the night after a few average looking positions.

at times if i lose a set up that reverses to opposite set up i'll double up. but only if it's on a nice clean trend break.

hardest thing in live 1min or anything short term is your mind. keeping it in check. for me i find knocking off best thing after a few good trades. once invincibility sets in your done.

main stuff up made when i got going was trying to trade out of holes while emotional... fast way to lose 30% in a session.

demo results attached... god it got easy on demo every day 1-1.5K when there's nothing on the line you can just trade free. wish i could take that exact state of mind over to live. even now when i have a demo session making 1k no real challenge at all. whole different animal when live.

one thing i used to get past a few demons was to trade tiny trade size... have jacked it up more now but still nowhere near trade sizes i started with... 10eur point when i opened the acc. thought i was ready... 50% acc said i wasn't.

used to trade US open as well but found i would lose the plot a bit... so left it to LON open only.

LON open can at time be a real challenge. just long range bar after another trying to suck you in for a clean stop out. the break of trend is very important.

so once you see the demo results you could imagine i was pumped... thinking i had made it big! never underestimate the change to live trading.

bloody demo

just as i wrote that post bang trade $400 if only live was so easy... bloody mind.

make that 900+

omg

US session demo trades...

Morning LuKa12,
Congratulations on starting this thread.
1 Minute charts.....Shall we call you "Quick Draw Luka"
Go get them mate.
Ronald

some times its quick stop!

the trades tonight.

first i was spooked out no real reason why... might be trading EUR per point but shouldn't have been really.

re-entered short again and made back losses plus 3...

third and final trade was a buy for 4, nice support off a failed move down. shortened session tonight. had a few demo trades around NY open few losses for a few wins just up overall.

7 for the LON session is a average just under average take but happy with that.