Jozef's Journals Setup 1 DAX M1

[Jozef]

3. Nice S1 after strong W3 and W4. Result DS0. It was taken after trading hours. Lack of discipline.
3/0 ouou ~x(

[kiravon]

Hello Jozef

You can learn to sit on your hands, I did - admittedly it
took about ten years!

but its interesting that Tomi writes code, that would really suit me
if I was bright enough

Instead I watch Forex videos, download indicators, create weird and
wonderful new systems ( well weird at least ), alter my templates
continuously.

Some good comes out of all this but arguably the greatest good is
keeping me away from trading when the market is messy and
snarled up.

Its not such a problem now but it was for a very long time.

You have hit on a very important point for all of us though -

I don't think any of us deliberately trade a bad setup.

what can happen though, if, as you say, we're finding it
difficult to sit on our hands -

is that if we can't see a setup we may develop the habit
of staring at the screen until we can see a 'passable' setup

except it isn't a passable setup!

Here's an analogy I'm surprised I haven't heard before -

With nothing crude intended, imagine a single guy walks into
a bar hoping to meet an attractive girl but no one really
catches his eye

so while he's there he has a drink. A few drinks later he notices
some of the girls are quite passable. A few more drinks and
every girl he sees seems irresistible!

Obviously intoxication distorts reality and similarly it's our
greed ( there is no excitement without greed ) similarly
sends endorphins to the brain and the more we crave the
excitement of a profitable setup the more we think we
see one. It's actually a vicious cycle.

When Immy says you need 200% discipline I think he means you,
and the rest of us, absolutely must break that habit of trading
every imaginary setup.

But what you are doing is great, you are recording everything,
reviewing your trades and learning from any mistakes

failure in Forex is very rarely due to a deficient system and
nearly always due to a deficient mindset.

and what's so encouraging about that is you can control
your mindset with practice

and once you've really cracked that, the sky is really the
limit!

It makes sense then to devote a good part of our energies to
mastering our mind

sorry for cluttering your thread

[arjanbg]

For me if I feel bored I am going to trade on a simulator. Espacially if market is in low volitility or increadibaly choppy. That s preventing me to trade to trade and take bad setup and trades.

[immy]

i play competitive games online It keeps me awake and very competitive...

[Jozef]

Sorry, Guys that I have not responded earlier. I was away from home. It is not a time for DAX M1. I am back for trading. Thanks for your response.

[Jozef]

4. trade T20/1 DAX M1 - RESULT DS0
Green DOT
Result BE
DAX exactly is showing me my weaknesses. ou ou

[acceleratum]

its best to show the structure behind the entry instead of whats after, or zoom out to get better picture, it will help you see the mistakes.

[immy]

@Acceleratum he is proving a point I made to him few weeks ago. The point that @Kiravon knows very well. Trading on the m1 requires ... 300% discipline ... its just too hard to remain disciplined on this time frame. I don't know why but it is. I can testify to that myself. its alot easier for me to be disciplined on the hourly chart compared to m1. But this T20 experiment must continue to prove this point furhter... These experiments are very valuable lessons.

[Jozef]

5. trade T20/1 DAX M1 - RESULT DS1
Nice S1.
Result BE
My first DS1 at M1. It was the first trade with ATM too.

[Jozef]

5. trade T20/1 DAX M1 - RESULT DS1
S1 trade
In my point of view, slipping gator, AO close to 0 line, box tide.
I took it. Result BE. I do not control M5. There was old AO. NEXT