Doomberg's Journal - Ticking Along Nicely

Ok i'm kinda back and i should be able to resume trading again now

I had to take some time out due to work being so busy, things are still very busy so i dount i'll be trading each day but i hope to have some more time fot it. Anyway i had a day off today and couldn't wait to get back on the indicies so i ended up trading Australia 200 in the middle of the night which may be of use to me to be fair because i'm often up late, i bought two Auz200 contracts, closed one after about 4 hours and held the other overnight but it didn't do much more so i closed the 2nd Auz200 not long ago. The trades below are not in exact order and some were held longer than others, its UK time and the time below is in 24 hour clock if you want to have a look at any of the trades.

Product: ------------Action---------Open--------------Close
Wall Street - Daily Rolling Sell-- 12095 (17:52) --12065 (16:36) = +30
Germany 30 - Daily Rolling Sell-- 6210.3 (14:32) --6159 (16:27) = +51.3
Australia 200 - Daily Rolling Sell-- 4331.5 (01:49) --4283.5 (14:29) = +48
Germany 30 - Daily Rolling Buy-- 6211 (13:53) --6212 (14:06) = +1
Germany 30 - Daily Rolling Sell-- 6233.3 (13:32) --6206.5 (13:45) = +26.8
Germany 30 - Daily Rolling Buy-- 6227 (13:03) --6229 (13:15) = +2
Germany 30 - Daily Rolling Sell-- 6283 (05:23) --6223 (12:50) = +60
Wall Street - Daily Rolling Sell-- 12113 (12:34) --12107 (12:49) = +6
Germany 30 - Daily Rolling Sell-- 6253 (12:16) --6235 (12:31) = +18
Australia 200 - Daily Rolling Sell-- 4331.5 (01:49) --4291.5 (05:12) = +40

Daily Total = 283.1

I'm very happy with today, not only did i wake up to a nice blue Dax30 and Auz200 i managed to keep up with the winning streak all day. It's highly unlikely for me to get above 200 points in a day as most times that i have i've simply ended up giving some or all of it back to the markets, today i stopped on a high before i slipped up and lost my hard earned profits. I very nearly made some stupid mistakes, the two longs (what the fook was i thinking) it was a short trend today and for some bizarre reason i took 2 long trades?? Anyway it taught me a lesson as i got in to trouble with both of them, however i managed to close +2 and +1, they were not totally stupid as i had picked them out using S&R and round numbers, but they were weak trades tbh, maybe even impulse trades. All my trades today were all based on S&R, Breakouts, Channel Trading and Round Numbers.

Ok so to evaluate, as i said in the OP any winning day for me is a great day, even +10 is a happy ending as i'm after consistent wins each day that i trade. I can't promise how much i'll be trading as work is very important to me right now as i'm launching a new business but i'll have a little more spare time than last month so will be able to get the ball rolling again. Maybe one day if all goes well i'll be able to do less work and focus more on trading, that is my aim but its a few years off yet as i have a lot on my plate.

Hope all is well

EDIT: Just seen a nice set up and took that for: +30 i'll add it to the list. I should of sat on my fingers after 9 winning trades but it was still a short trend and i seen a lovely fake upwards breakout on Dow which slowed at 12100, as soon as i had an inclination it was about to correct back down i shorted at 12095 and placed my stop super tight at 12105 and had a TP of 12065.

I think that what you said in the edit was the most important thing you said. And that was you sat on your fingers.................Enough said.........That is great that you realized that............Sometimes you should just sit and sometimes you should go if it meets your criteria to trade.........

Yes it is certainly very important to sit on your fingers when trading to make sure you don't impulse trade... the -80 and -81 were in fact impulse trades, i bought 2 of my normal contracts by accident instead of one, to make things worse it was at a crap part of support that i thought it had broke through when it decided to bounce, closing me out and then dropping by much more. The other loss of -12 was in fact at error of my broker, as this morning at about 3am my platform conveniently stopped working after many consecutive wins, the site home page worked fine but as soon as i entered my log in the site seemed to crash each time from any browser? Hmm seems dodgy, anyway in the end after not seeing what was going on with the charts i just called my broker and he put a small stop on my Dow and i went off to bed, if my stop was left at at 60 which it was what i'd 1st planned i'd of woken up to +124, so i'm having a "little chat" with them to see what they will do. The trades earlier in the day start from the bottom, some were closed at the time as i added contracts to good trades. I don't have time to go and write down all the open and close times today and i haven't put spacers in the numbers i've copied off the invoice but i'm sure you can work it out.

Product Action Open Close
Wall Street - Daily Rolling Sell 11755 11695 +60
Wall Street - Daily Rolling Sell 11643 11724 -81
Wall Street - Daily Rolling Sell 11641 11721 -80
Germany 30 - Daily Rolling Sell 5861.5 5838.5 +23
Germany 30 - Daily Rolling Sell 5885 5838.5 +46.5
Germany 30 - Daily Rolling Sell 5886.8 5838.5 +48.3
Germany 30 - Daily Rolling Sell 5861.8 5838.5 +23.3
Wall Street - Daily Rolling Sell 11796 11672 +124 HOME RUN
EURUSD Rolling Daily Sell 1.3705 1.3647 +58
Wall Street - Daily Rolling Sell 11811 11811 +/-0
Wall Street - Daily Rolling Sell 11927 11939 -12

Total = 211.1

Happy with today again, more than happy but them losses could of been avoided... i'd just took some hefty wins so i should of gone for a walk, instead i took a trade i knew was weak! luckily i was still way in the blue.

I have 2 overnight short positions that are currently in the blue too:

Dow Jones: Entry - 11725
EUR/USD: Entry - 1.3680

I have no idea when i'll be closing them, but i'll be up late working on something so i will have time to keep an eye on them for at least 5-6 hours, i may close then... or if they looking healthy i may move the stops to BE and go to bed.

Hope all is well

Ok so today I LOST CONTROL

And its killing me, i just lost a lot serious money... why? Due to rule breaks and not taking a loss on the chin. I am exactly BE this week in terms of money but this is bad, its a perfect example of what i used to do when i just started, when i had no rules or discipline. 1st of all i took a small loss of -15... the 1st loss was in fact the brokers fault as my platform was down (again) and something came over me, when i was back online i took a crap trade within a few mins and lost that too (why did i take the trade? I don't know) -.-

Then i got really aggitated but decided to wait for a better trade, i bought a short on EUR/USD and was in equity quite quick and then also bought a contract on Dow Jones... after the news of the Greek primeminister resigning i was sure that we were still in a short trend so this confirmed that i may of made the right choice. Then all of a sudden a pullback comes from no where, if i had a brain i would of just closed at a loss on the Euro and Dow but instead i believed it was going to come back down so what did young muggins do? Added conracts to my losing positions until i had 5 on Dow and 3 on Euro, to my despair it continued to go against me, so like a fool i just moved my stops to an area that was very far away, i thought to myself "today i'm either going to earn or lose a large sum of money" complete stupididy and after being up all night watching charts i finally get closed ut at about 6am. I tried to catch a the upwards surge with a new Dow but was stopped out on that too and also 2 more Euro positions, i had completely lost it.

Product Action Open Close
EURUSD Rolling Daily Sell 1.3814 1.3825 -11
EURUSD Rolling Daily Sell 1.3809 1.3819 -10
Wall Street - Daily Rolling Buy 11824 11788 -36
EURUSD Rolling Daily Sell 1.3736 1.3741 -5
EURUSD Rolling Daily Sell 1.368 1.3747 -67
EURUSD Rolling Daily Sell 1.3707 1.3747 -40
Wall Street - Daily Rolling Sell 11689 11805 -118
Wall Street - Daily Rolling Sell 11725 11805 -80
Wall Street - Daily Rolling Sell 11747 11763 -16
Wall Street - Daily Rolling Sell 11749 11759 -10
Wall Street - Daily Rolling Sell 11707 11740 -33
EURUSD Rolling Daily Sell 1.3682 1.3717 -35
EURUSD Rolling Daily Sell 1.3666 1.3691 -25
EURUSD Rolling Daily Sell 1.3657 1.3672 -15

Total = -501

I really don't know how i keep breaking my rules, before the early hours of today i had done 17 wins 3 losses this week and then my demons hit and i completely flipped and put had no sense what so ever, i suppose when this happens its buying information from the markets and luckily it's just profits i have lost but what a crap thing to happen, the only few days i will get to day trade properly and i blow all my hard work on a stressful night of torture.

Oh well, i feel like i do have a talent in trading but i just HAVE to get rid of my demons.

Hope everyone else is ok

mate that is brutal.

Yep 501 pips down in a day, i'm struggling to get over it to be honest.

After talking with some trader friends they have calmed me down a bit with their experience. To conclude it seems that if i am in control all is usually fine and i can pick some sensible trades, i've illustrated that i am capable of getting good returns but i do have a dark side, a side that sometimes can't let go. Sometimes if i take a hit, i don't know why but i just break my rules, i know i'm doing it and i know i'll probably regret it.. a friend of mine who is at a higher level then me says that we've all been there and that its like girls calling you over with their fingers, trying to get your attention but you just have to learn to ignore them no matter how attractive they are. It seems for me losses come at once as this is when my emotions seem get the better of me, i think that from now on i may limit myself to 100 pip loss, i mean i can live with a 100 pip loss without getting the urge to jump off a bridge. Once again i am reminded "Stick to your rules"

-501 what the hell was i thinking, oh well this is only going to improve my trading in the long run.

Wow ! That's one bad day....sorry to hear it...developing the right psychological skills to trade an edge is what Mark Douglas describes as being needed to close the 'Profit gap,' ie the difference between having a profitable edge and actually trading it profitably. I remain convinced it is this that seperates the profitable traders from the unprofitable ones...like learning the edge itself - it can take time.

Continued G/L with your journey.

BBmac.