Emma´s T20 Journal

[eaxh]

No news for dags in the morning. I am aware of FOMC Meetings in th eeventing so have in mind that traders might be extra cautious.D1 Up
H1 Range (Same area as YD)
M5  Up Chance of trend not confirmed as id hasn´t broken the previous HL.Picture attached below. Am i seeing it correctly?In Kc perspective ( and from FO) its down so if it opens down = GO! Until the range low on H1.If it goes up = Levels near on H1 (Upper range)

 

Wednesday M5.png

  (TRADE 2) PO set below the tight range on M1. At LO. Sl Above the range( also above KC channel. LOBOT Attempt. RENT.
I beleive i did everything according to my plan so DS1. Rate the setup as a 7. It could have been higher if H1 was not in a range. (TRADE 3) It goes up and Poke the Upper KC band. Not really love the context, but… hm…
I place a PO. I see i have room to the upper Range level and it is from LO.
I place the SL below LO on a safe distance.
If it moves up i profit i can have a trailing disaster SL just beneith the midline.It goes down and retest the OL and my thought goes – Are there enough buyers there. If i look on H1 there could be a portion of sellers at the range high on H1 so the price might come up there to then turn down.

I´ll just wait and see and manage the trade according to the plan.Ended up as a rent. Ds1. The thing i could have put more attention on is H1. A rejection candle from the range roof probably not going to attract alot of buyers.
 Arrow 1 = These patterns happen alot i have seen. They are SOO tempting to take.
I'm giving up on those right now, but I think I can add these to my plan later. However, I do not know how.This pattern requires some discreet thinking. In this case, there is plenty of space for the floor on the H1 range and M5 is down from FO. What I can do is continue to pay attention to these patterns and take notes.
Another thought I have about those patterns in that it is a way to get trades lured into a range. (TRADE 3 ) Price brokes ut of the range and I am allowed to take 1 more trade today. Waiting for a Pullback with confirmation. Before it gets climatic.
Micro pullback on M5 and an entry on m1. Po in. Triggered.
When the candle close (Arrow 2) I change my sl to trailing the 20 ema as a disaster SL.
I plan to do that until I see 5 Black candles or close above 10 ema.
Feeling calm.
M5 is starting to look climatic. I am still following the plan.
First close above 10 ema so SL is now above that candle.(TRADE 5) Another valid KC setup. At arrow 3 I moved my sl to above the box. I see spread is widening and that usually means that something is to happen, and I don’t want to have a wide sl if the price is to shot up.
As the price goes in line with the previous low on M1 I start to trail the midline. Exit during to the plan.
 I believe that I traded good today. The long trade is the one I could have filtered. The other ones are PERFECT according to my plan.
I was calm during the whole session.
I now manage my trade almost automatically. AWESOME!!I am now down -1,6% so I stop now.

Wednesday Trades LO.png

 

[eaxh]

Thursday 2021-08-19NEWS? NoneD1 Up, doing a pullback down at the moment. No new lines need to be drawed
H1 Down, has broken an important level so air is free 120 pips to the next level.
M5 Down If setup to the downside happens? GO (Filter the climatic moves)
Could be time for a bigger pullback on M5, even though LO often give volatility.

If setup to the upside? Be more cautious, but then it could mean that the breakout failed and the market is back in a range and a move to the upside could be beneficial. About 150 pips to YD range roof. Feeling calm and assertive.
I AM DISCIPLINED AND I TRUST MY EDGE At the time of LO, M5 starting to look climatic…
Arrow 1= Seeing the momentum starts to slow down.Moore momentum in the move up. Not really seing it as a pullback. BUT Test of OL.

TRADE 6  Po below the banana. Can not give it the highest score due to the move up in the pullback having more power in it than the move down.
Arrow 2= move SL to above the box high. Stopped out there.
My intuition was correct. It was on its way up. The fact that i was iffy and i felt a resistance towards setting a po i might need to implement that as a filter. At the same time i need to find the balange between listen to my knowledgebased intuition and the feeling of fear.

TRADE 7 What made me taki this one was = It failed to go down, then it went up and retested the OL and i was thinking that if it did not went down and made that push up(Momentum move on M5), then i could go up. I rented that one. It was the first full loss in a long time.
It doesnt hurt, what it does is that it makes my thoughts become more negative about my future i  trading. Like this is a setback…..
I have to look at it in a longer term. Its just a rent day. We all have those days and they will come and go. I lost a little focus today. Trade long was wrong. M5 was down.
I did not notice that my thoughts took over the managing.I am going to take the Friday to look more deep into my trades this week and see i fits just a natural drawdown or if i am causing it.
My guess – Both. Slow august and me being to loose on the filtering of trades.
 

Thursday 2021-08-19 Trade 6 and 7.png

 

[eaxh]

Today i did not trade. I needed to go through my week and see what went wrong. 
This is the worst week for a while. 

I also plotted all my trades in june and changed timeframe to M5 and i started to see a pattern. 
I started to write down a little guide to read before every tradingsession.

To sum it up, it's all about the context. I'll attach my little guide.
If there is something someone would like to comment, please do
 It's probably going to be refined along the way.

Tillägg till plan 2021-08-22.docx

 

mon-fri result.png

 
 
 

[eaxh]

News 10:30 German red news
D1 Up
H1 Up.
M5 Up At the open price starts to move strongly down.
I was not present at Lo. Joined 10:30.Observing the market. Arrow 1= Very near a strong level in the passed weeks so not gambleing. LEvel marked on H1.Arrow 2= Was harder to filter this one , but still in the same area which is very near the level i am looking out for. M1 is now in a trading rangeArrow 3= Were sooo close to trade this one. Manage to take controll over myself and i did not.
Actually quite good context, but inside  a m1 range.Lunchtime now at 12:00 and the kids are home today so no more trading today.

Good day. Disciplined and quite clear head
 
 

Monday 2021-08-23 no trade .png

 

[eaxh]

News No news

D1 Up
H1 Trending up
M5 Breakoutphase to the upside Levels to watchYD High(minor) and low (major, is in line with alot of levels in the passed week/s)

Purple areas ( pre ranges) 

Predefines levels of when to trade and not to trade.png

 Price opens down ad nare now through FO OL and towards the premarket ranges low.
attracts alot of buyers.
I am not selling with this action around it.ARROW 1 Placed a Po below candle that tested FO and Went down.
Next cnalde went up with momentum. Rejected at the midline. Waiting for next candle to close.

 TRADE 1 PO below seed
I am hearing the thoughts – Oh, emma, was this really a good setup? You better get out now so u dont lose money. I am not defining myself with those thoughts.
I (ME) still see it as a valid setup. Its not the outcome that define a good setup.
ARROW 2 I now see 3 boxes in line so i place the SL 2 pips above them.
The move seems to be gone.
Out with a RENT.
Feelings after. Just a rent. My thoughts try to make it as the worse trade i have ever taken. Me however traded good, was disciplined.
The Pc kicked me out and went down… Well there will be another trade.
A thought that i get in these kinds of trades, is that -Did i get out in the right place? In hindsight? NO! In my tradingplan? YES. 

Tuesday trade 1.png

 I am going to stop now.
The kids are home with a cold so i  am not going to trade more today.
 

[immy]

Today i did not trade. I needed to go through my week and see what went wrong. 
This is the worst week for a while. 

I also plotted all my trades in june and changed timeframe to M5 and i started to see a pattern. 
I started to write down a little guide to read before every tradingsession.

To sum it up, it's all about the context. I'll attach my little guide.
If there is something someone would like to comment, please do
 It's probably going to be refined along the way.Tillägg till plan 2021-08-22.docx
 mon-fri result.png
 
 
 

 

Hi Emma

Great "research". You see, as I keep saying all the time. The most valuable data a trader has is the set of trades they have taken according to a solid trading plan. You have a GREAT set of data that is very valuable in general but specifically for your use. 

Congratulations on completing this step and creating your own set of rules as per your observation. I agree 100%.  

to everyone else who might read this post, Download this and study it. You will find this document very very very useful indeed. 

regards


 

[eaxh]

Monday 2021-08-30


 No relevant news (red and Orange) yellow german news.D1 Up
H1 Up Phase with alot happening to the left
M5 Down from FO


 If it goes up i want it to clear FO and the nits good to go until the 15920 area
If it goes down we have a level at 15815 and then clear air until 15730 but the major level is at 15700Thats the gameplan for today.

 The price opens to the upside.
It pauses at the high to the left (also overnight high) on M1.
Manage to push through. Now i am waiting for a pullback. Or did it just fill the gap?Pretty low volatility.
First M5 candle bearish. So in waiting mode.
Having some problem with the internet conection. Small freezes here and there. (Gets better and better)

 Arrow 1
Filtered cause of the not existing trend on M5 to the upside. Not even a trendcandle(If there was a trend candle on M5 it would have been okay for an uptrade.

 Trade 1
Po above 10:14 candle. Banana on M5 so was thinking that the undecision period was to an end. When price reaches the outer band i place sl in line with 20 ema and start to trail 10 ema close. My plan in to start trail free candles cause my entry was near the 20 ema.
Feeling exceptionally disciplined and clearheaded today.Out with a tiny profit. Disciplined and according to my plan.
 I have to go through my trades and see if it is better to take profit at the outer band when the entry is nearer20 ema.
Suggestion to change- If a S2 situation is to happen it doesnt need to poke first. Just breakout from the S1 and then a pullback towards the emas.

 Arrow 2
To deep of retracement and after a bounce at a Friday high. Filtered.Waiting for a continuation of the long setup on m5, alt a downmove.

 Arrow 3
was tempting, but filtered it due to shallow pullback and the entry was going to be in line with the outer band.

 Summary of today
All actions was disciplined and all my actions was according to plan.
 

Monday Trade 1 2021-08-30.png

 
 

[eaxh]

August is over.News – nothing relevant in the morning. Some orange Us news in the afternoon.

 D1 Up
H1 Up (Has hit a zone in the morning)
M5 Up Strong

 Tricky today.
In the picture i posted here below i can see that it has broken a wedgeformation. On the other hand it has hit a resistance.
So i have some zones to play inside.
 

H1 Senario.png

 

If it goes down – Trade towards the next zone
If it goes up ( based on - It broke the wedge to the upside and retested it twice)
My thinking is that there are 2 types of traders today. The trendlinetraders and the S/R traders.
I have to be careful.
But the trend is up on H1 so that is focus Nr 1.
  Po above the fractal high in the open.
Price drops. I have my order there still. Waiting for the first candle to close on M1.


 TRADE 2 Entry triggered. Move sl to Disaster place (midline) Executing my plan for exits.
Arrow 1 Was just about to hit candle trail as i saw the H1 zone was there. It dropped to fast for me to react.Out with a BE. DS1

 Arrow 2 To big banana
 Trade 3 Po above the seed. SL below the box to begin with. Seller kicks in at the top.  Getting a little scared. But M5 has a 2 candle pullback, so this is a good setup too. I am going to do it according to my plan.
Arrow 3- when i see this wicks and it tightens on m5 i place sl below the new box low. It could fly up or down. I dont want a huge rent if it flies down.
Out with a small rent. Ds1


 

Tuesday trades 2 and 3.png

 Arrow 4- I hesitated ONE secont and then the trade was gone..NEXT

Arrow 5-  I had an inner discussion with myself. Decided to delete the po based on 1. H1 zone. 2. M5 stretched.

Review for august is coming up in the next few days.

[eaxh]

News
09:55 German PMI Orange news ( be aware) 10:55 MT4-time.OPEC mettings all day, could be a slow day.
But at the ssame time its the 1st day of a new month so we will see what happens.

D1 Up (Currenttly in a sideways correction of some sort)
H1 Breakout phase to the upside (In the cluster of the overall sideways market) Just hit a H1zone
M5 Breakoutphase o the upside

Up from FO 
If it goes up- Trade
If it goes down – Trade

Could form a S1 situation at the open. If that happens, take a lobot trade to the upside. Trade 4
PO above box. Trailing freebars. Not IB.  Out with a small winner. DS1
 
Now, waiting for another entry.
Arrow 1- Too large candles. Did not have an entry

Doubletop after that. (Running flat also) if i have an entry bar i am in.
Reacted to H1 zone. Longer downmove, so not taking it.
Arrow 2- A scalp to the upper band was availible here.

Now trippletop and reactiong to the H1 zone. Could drop like a stone to YD low
Arrow 3 – Po below. Did not trigger.
Waiting
Arrow 4 TRADE 5 PO below box. 
SL to BE when the midline is in line with my entry.
Arrow 5 Starts to trail candles. Because 1., its a free bar and 2.Price at the OL which means it can bounce quickly up.
Good desicion, out with a small winner.

A DS1 day 
 

Wednesday trades.png

 
 
 

[eaxh]

When it comes to Discipline, I'm there.
What I need to work on is the context.

Have written a small guide to read every day (See previous posts)

-4.1% due to the fact that I have taken good setups (how they look on the M1) in the wrong places.

Results

I have taken 21 trades of which 1 DS0 95% Ds score (fantastic)
Winrate 29% (not as fantastic)
Average winner 0.9%
Avarage loser -0.46%

My thoughts on this. I must say that these statistics for August look skewed. How can it be so much minus when I am so disciplined.
Partly because there are less traders in August and maybe the setups do not work as well.
Another big reason is that I have difficulty judging the context.
To explain it in more detail, I have put these Ds scores based on the setup on M1 and if you look blindly at M1 I am a fantastic trader but it is not enough.
To remedy this and also get in that I should FIRST look at H1 and M5, I will now include the context in my Ds score.
Will specify more clearly in my trading plan.
Brief - M5 range -Ds0. M5 trending- Ds1
The thing with stretched is too difficult to judge with a score because it is so different depending on all situations, it will have it as a discrete thing to judge there and then but it will not affect the Ds score, however the Setup score will have more focus on it and the beauty of the Setup.

Have checked lots of my previous threes and how they look on the H1 and then how they look on the five minute graph.
It has been very instructive and useful.
August is a tough month and my few trades were almost all in the wrong place from a larger perspective.
I bring with me many new insights and more certainty in terms of context.

The fact is that this is my first loser month of the whole year, which is a little difficult for me to take in.
What I am going to do is accept that this happened, take to me all the lessons and insights. And continue.

I went through my trades in August and came to the conclusion that it would have been -2.9% instead if I had taken my profit at the outer band.
I have to get it into my trading plan somehow.
I want the cake and eat it too. It may not work in practice.
I do not want a hard goal at the upper or lower band, but I also do not want to trail 10 ema for happy life and maybe get a loss when I could have got myself a winner at a freebar tex.
I need a guide or some concrete reason to trail freebars. Can it be so simple that when an entry is close to the center line I can trail freebars?

I still have to say that this has been one of the best months when it comes to growing as a trader.
I manage my trades really well and am very disciplined and often calm. When i am in a trade i always knows what to do.
It is the context and outer band/trail freebar-exits that I will work with in the coming months.