How I turned £3000 into £20,000 in 6 Weeks

This is a discussion on How I turned £3000 into £20,000 in 6 Weeks within the Discretionary Trading forums, part of the Methods category; Alas, this alone will not push the market down!...

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Old Sep 8, 2015, 6:42pm   #73
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Aston1st started this thread Alas, this alone will not push the market down!
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Old Sep 8, 2015, 7:34pm   #74
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Aston1st started this thread Out at 10308!
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Old Sep 8, 2015, 8:16pm   #75
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Aston1st started this thread Short DAX 15@ 10322
Stop DAX 10372 for 15
Exit I DAX 10021
Exit II DAX 9830
Exit III DAX 9650

Jobbing around down 5 ticks in all.

Write out a 100 times "Accept the Risk".

Some bird ( Misfortune) keeps asking if I want to stay overnight with her?
Shall do but with a Condom ( Stop loss)
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Old Sep 8, 2015, 11:04pm   #76
 
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In the long term I'm expecting price to decline as well but maybe not time yet for long term shorts, from next month it might be.
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Old Sep 9, 2015, 7:46am   #77
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Aston1st started this thread Oh boy, so much for my magic charts! Bloody Chinese officials coming out with solutions to their economy's woes. Still bearish but having to watch the market very carefully.
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Old Sep 9, 2015, 4:13pm   #78
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A Chinese Take a Way

Aston1st started this thread So another disaster. Yesterday I sat on a £1,000 profit expecting the market to go lower only for it to float upwards. The day before that did the same but with a £650 profit, ending up -£150 down. Note to self, if more than £500 pay yourself.

Still convinced it was on a downward path i bedded Miss Fortunate with a large condom ( Stop) and catch it bad. Was stopped out at around 400 (15 a tick) used the reserved funds and shorted it at 414 only for the market to spike upwards to the 500 level. Painful. Shorted yet again around the 460 mark and am holding until I am stopped out at 500 or my initial target reached at 10050. Only now trading at £10.00 a tick.

So many bad decisions made on this one. Poor discipline and fixated on these GAPS which always prejudice my view of where the market is going. Only in adversity do I come to my senses and trade properly. I can expect this until the break through.

Attached is a a copy of my "Magic Chart" on the DAX. The magic did not tell me about the Chinese "Take a Way" ( of my account).

A masterclass in Trading mistakes - in reality it's more about own limitations. Still if 10050 then I will be able to have a clearer head.
Attached Thumbnails
9-th-septemeber-2015-chinese-take-way.png  
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Old Sep 9, 2015, 7:58pm   #79
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Aston1st started this thread Contact Wait Out:
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Old Sep 9, 2015, 8:17pm   #80
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End of Day after the Chinese Take a Way

Aston1st started this thread SITREP:

Had to use my most nerve racking trade in my quiver of Trades, it's called:

"The torpedoed ship sailing into port trade."

Essentially, you start the day with a mega Crash, then the Market allows you to get your bearings, however, you must be 100% committed to the trade, no jobbing around it ( limited jobbing at the most) then Believe, Believe, Believe. This is not wishing, hoping or praying but assessing the probability and acceptign the risk.

To recap, stupidly placed an over night position and wiped out my £1300.
Then Jumped in for some revenge trading to recover my loss only for the market to smash me with another £15.00 a tick x 100 loss.

At one stage I was looking at a mere £750 on the account!

If only today was yesterday. Nonetheless I am up on the day and from yesterday. But a long way to being flat from the start. But lots of lessons relearned.

Don't mess about with the Market.

Attached is my End of Play and Trade Entries ( it was 10460 at £10.00 not 360)
Attached Thumbnails
chinese-take-way-iv.jpg  
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