Emma´s T20 Journal

[eaxh]

Today I think i filtered the a lot of setup 1. I get confused the moore i learn and filter some of the trades that is a setup 1 according to the flowchart. But because of elliotwavecount, S/R levels i filtered them.
Should i do so? Or take all the setup 1´s?



1. Trade Number: Batch 1 trade 16
2. Date/Time: 8/9-2020 8:29
3. Symbol/TF: GER30/ S12
4. Signal Type / Direction : Setup 1 Sell
5. Comments and Feelings at the Time of Taking The Trade:
Stressfree
6.Comments After Exiting the Trade:
A little stressed. Tried to remember and imprint that the outcome of just this trade is random.

7. DS For this Trade: 1
8. DS Running Total: 13/16 (81% )

B1 T16.png

[eaxh]

I am soon done with my first T20 and im going to do a completley honest reweiw.
I thought this was going to be easy. I knew that it was simple but i was very wrong with the beleif that it was easy.

I have found it to be extremly hard to trade when u are a perfectionist. I filter probably almost every setup because i find something wrong with it.
Only to find out that they were pretty good.

I´ve read trading chaos and trading in the zone. and i understand that i am the person that NEED T20.

My goal it to be a consistent profitable trader. My plan is to become aware of my wekness and dont let it controll my trading. (because i have found that in trading being a perfectionist is a wekness) . Maybe being a controllfreak person add up to the problems i having with seeing the setups.

I have ALOT to work with.
It just takes a little moore time that i thougt.

This is just the beginning!

[immy]

Hi Emma

I can 100% guarantee you that based on my personal experience both in trading and in life, being a perfectionist is NOT a quality. It's actually a weakness. One must find this fine balance between being perfect and just right. It can be easily fixed by defining a RANGE instead of BINARY approach.
Instead of getting 100% we should redefine perfection as anything above 90%.

When it comes to trading patterns, it is ok to be a perfectionist but with a defined range as apposed to 100% accurate pattern. We will NEVER see EXACTLY the same pattern. The general structure of the pattern will be accurate but not the finer detailss...


my 2 cents

ps: first get the science of it right..(perfect your understanding of the pattern) then, bring the ART of trading to make the method your own... (successful trading is not about perfect trades, its about learning to understand how the market moves, how to take trades and then the most important bit is how to control the real YOU inside of you)

[eaxh]

This is my three final trades in batch 1. It was not as easy to see the setups as i thought. Either was it as easy to be diciplined.

But the fact is i have learned VERY mutch and i am looking forward to make myself moore diciplined in the batches from now on.

I have to see this as progress because of the fact that i see what i have done wrong makes it possible to make me aware of these errors before i make them again. That meens that i have comed a little bit further in my journey to become a trader.

1. Trade Number: Batch 1 trade 18
2. Date/Time: 14/9-2020 8:40
3. Symbol/TF: GER30/ S12
4. Signal Type / Direction : Setup 1 Sell
5. Comments and Feelings at the Time of Taking The Trade:
I was blind because the alligator wasnt even asleep. But i didnt see that.
6.Comments After Exiting the Trade:
This was an errortrade. So a ds0.
This shouldnt even have been a trade.

7. DS For this Trade: 0
8. DS Running Total: 13/18 (72% )

1. Trade Number: Batch 1 19
2. Date/Time: 14/9-2020 8:41
3. Symbol/TF: GER30/ S12
4. Signal Type / Direction : Setup 1 Sell
5. Comments and Feelings at the Time of Taking The Trade:
Checked the rules. The rules was fulfilled
6.Comments After Exiting the Trade:
Secondguessing my decission to put a pending order. But i still se it as a ds1

7. DS For this Trade: 1
8. DS Running Total: 14/19 (74% )

1. Trade Number: Batch 1 trade 20
2. Date/Time: 14/9-2020 9:15
3. Symbol/TF: GER30/ S12
4. Signal Type / Direction : Setup 1 Sell
5. Comments and Feelings at the Time of Taking The Trade:
I was in a analytic place in my mind. But i thougt that i was in the right state of mind.
All the rules was fulfilled.
6.Comments After Exiting the Trade:
I have a hard time figuting out if this is a ds1 och ds0. I did not brake any rules. But the gator was very asleep on m1…


7. DS For this Trade: 1
8. DS Running Total: 15/20 (75% )

b1 t 18 19.png

B1 t 20.png

[eaxh]

1. Trade Number: Batch 1 trade 17
2. Date/Time: 9/9-2020 8:08
3. Symbol/TF: GER30/ S12
4. Signal Type / Direction : Setup 1 Buy
5. Comments and Feelings at the Time of Taking The Trade:
Stressfree in the begining but Waiting for the trade to be completed are stressfull.

6.Comments After Exiting the Trade:
Fomo kicked in. so instead of waiting fot the setup i should have taken, i took this setup 2 so ds 0!!

7. DS For this Trade: 0
8. DS Running Total: 13/17 (76% )

B1 T17.png

[eaxh]

Hi Emma

I can 100% guarantee you that based on my personal experience both in trading and in life, being a perfectionist is NOT a quality. It's actually a weakness. One must find this fine balance between being perfect and just right. It can be easily fixed by defining a RANGE instead of BINARY approach.
Instead of getting 100% we should redefine perfection as anything above 90%.

When it comes to trading patterns, it is ok to be a perfectionist but with a defined range as apposed to 100% accurate pattern. We will NEVER see EXACTLY the same pattern. The general structure of the pattern will be accurate but not the finer detailss...


my 2 cents

ps: first get the science of it right..(perfect your understanding of the pattern) then, bring the ART of trading to make the method your own... (successful trading is not about perfect trades, its about learning to understand how the market moves, how to take trades and then the most important bit is how to control the real YOU inside of you)

That is so TRUE and i will take that with me in batch 2 and the rest of my journey!

[eaxh]

Is there any trading genouis that can help me with this question? i quiet dont get it...
The question is the Bold part.

1. Trade Number: Batch 1 trade 11
2. Date/Time: 1/9 -2020 8:28
3. Symbol/TF: GER30/ S12
4. Signal Type / Direction : Setup 1 Buy
5. Comments and Feelings at the Time of Taking The Trade:
I saw the setup and placed a pending order.
6.Comments After Exiting the Trade:
Was it to many levels to the left? Was is too early in the 4th wave for a fifth wave to evolve?
Could i have filtered this or was it just simply rent?

7. DS For this Trade: 1 i think
8. DS Running Total: 10/11 (91% )

1. Trade Number: Batch 1 trade 11
2. Date/Time: 1/9-2020 8:35
3. Symbol/TF: GER30/ S12
4. Signal Type / Direction : Setup 1 Buy
5. Comments and Feelings at the Time of Taking The Trade:
This time when a new dot came i checked the rules and placed another PO.
6.Comments After Exiting the Trade:
I have a hard time figuring out this whit the levels to the left. I read somewhere that it was 2-3 pips away, the PO is set from that level. Or is it when a level is to near in time?
I dont find the answer anywhere. Is it about the fractal in the 5Xhtf or is it the fractal to the left in current timeframe?

7. DS For this Trade: 1 i suppose.
8. DS Running Total: 11/12 (92% )

b1 t 10 och 11.png

That's a GREAT question @emma ... which level to the left?
The answer is both. But to be objective we are actually talking about the M5 level to the left.

if price is too close to the M5 level, chances are it might bounce off it. So why risk it. Best to either wait for it to break and hten get in or if feasible just set PO below the M5 level (or above for longs)...

But more recently I have redefined this. I look at the M5 candle highs/lows. so if M5 candle is pulling back, I'd go with the M1 box lefvel that is the same as m5 candle high/low. hope this makes sense. If not let me know I'll try to explain in my next video.

cheers

ps: my comments assume trading the m5/m1 chart. Replace m1 with S12 and M5 with m1 in your case.

Thank you for the detailed explanation!
I think i got it now

/ Emma

[eaxh]

1. Trade Number: Batch 2 trade 1
2. Date/Time: 15/9-2020 9:55
3. Symbol/TF: GER30/ S12
4. Signal Type / Direction : Setup 1 Buy

5. Decision making:
Blue dot, tight box, close to zeroline. M1 and M5 gator was both open to the upside. So the only thing to do was to place a pending order above the s12 level.
6.Feelings during the trade:
Find myself secondguessing the setup.
7.Comments After Exiting the Trade: Thinking that the outcome was random and this time it was renttime. I did was i supposed to and stuck with the rules and followed my plan to get a DS1. All i havedone this weekend is thinking about and repeat to myself that it is random. And that i have to take only DS1 setup 1 trades to have the wins in my favor.

8. DS For this Trade: 1
9. DS Running Total: 1 / 1 (100% )

B 2 T 1.png

[eaxh]

1. Trade Number: Batch 2 trade 2
2. Date/Time: 16/9-2020 9:14
3. Symbol/TF: GER30/ S12
4. Signal Type / Direction : Setup 1 Buy

5. Decision making:
I first saw a blue dot and but a pending order according to the rules. Somehow that one was not filfilled, it just was deleted.. would have been a nice trade.
Then another one came, The rules was fulfilled so i put a pending order again.
6.Feelings during the trade:
It almost hit my TP. I could have got out there i was thinking. I caught myself thinking in fear and fomo. Reminded myself that this is not a practise to get my demoaccount to grow. It is for the diciplin. And my rules in not to touch the trade. So i didnt.
7.Comments After Exiting the Trade:
I am proud of myself for not touching the trade. So this is a BIG win in my self-dicipline.

8. DS For this Trade: 1
9. DS Running Total: 2/2 (100% )

I am reading the latest (i think) book of Bill and Justine Williams and that was really an eyeopener to see the markets underlying structure. I´ve read his first book but didnt really understand all of this untill now that i am reading this bok.
With all of the aims education, e-books, videos and explanation and his books i really start to see patterns and the structure. I can often see them before they arrive.
It is so Cool. I have a long way to go, but i already have Aha-moments everyday.
Today i took the time to look at M1 and M5 when there wasnt so mutch setup1´s happen on the S12. I saw some wise men
All thoug this LO wasnt that volatile, it vas a FANTASTIC learning session.
And i won over my fear this time

I am now slowly starting to recognize patterns in corrective waves.

B 2 T 2.png

[eaxh]

1. Trade Number: Batch 2 trade 3
2. Date/Time: 17/9-2020 8:25
3. Symbol/TF: GER30/ S12
4. Signal Type / Direction : Setup 1 Buy

5. Decision making:
I first saw a blue dot and but a pending order according to the rules. Somehow that one was not Cloze to zeroline, tight box och sleeping gator. Open gater up om M1
6.Feelings during the trade:
Nothing, Just waiting
7.Comments After Exiting the Trade:
Saw the setup according to the rules so i beleive it is a DS1

8. DS For this Trade: 1
9. DS Running Total: 3/3 (100% )

b2 t3.png