Emma´s T20 Journal

[immy]

FORECAST AND PREP

NEWS Orange german news at 11:00 After my trading time.

D1 Sideways(YD Half strong move up.
H1 Up (Flagging)
M5 Up.

No trend from FO.If it goes up – GO. Because the trend is up on M5 and H1
If it goes down – Wait for M5 to confirm downtrend.

Iffy situation.
LOW ATR 

THOUGHTS DURING THE SESSION

Lo opens strong below FO.
Very near the Morning low and an H1 level. Iffy.

First candle- HUUUGE wick on M5. I am in waiting mode.Huge rejection from down under. A trade to the upside is okey.
H1 traders might look for longs.

Po above the 2 candle pullback. Moving it to the next candle and then closing it. No follow through.
Risky pending order, but H1 speaked for it.

Finally went down, but went to a zone on H1. Be careful. M5 down so that speaks for it. Okey to trade.

Wicks on both m5 and m1 Po closed.
The level on H1 attracted buyers.

TRADE 1 11:26 S1 sell. Wierd looking one but gives it a try.
Ended in rent.
Arrow 1- When this box formed i could have moved the sl to above that box.

After that my time was up.
okey dayTuesday trade 1.png
 
 

 

Hi Emma

We traded exactly the same signal with different exits. It's fun trading with you. Long may it continue!!

cheers 
 

[eaxh]

FORECAST AND PREP

NEWS

D1 Range. Same levels as the previous days
H1 Down (Correction)
M5 Range 60 Pips. Not tradeble.
Strongly down from FO.If it goes down.

Break of the lower level on H1 is a must.
If it goes up.Same. Break of the M5 range is a must. 

THOUGHTS DURING THE SESSION
Right before LO it was a Reaction to the H1 low. A possible trade to the upside is okey in this condition.

At the open there is a strong push to the downside. Makin M5 look VERY DOWN THERE.
Now near a new level. Can take entries, NO major range level.
Its just goes and goes. Now its at another level.

After this climatic move i need a pulllback to the midline.
The bad thing is that that rarely happens in this high volatility situations.

TRADE 2  was waiting for a S1 before entering. Got to exited when the setup came so i jumped in. Not as per my rules so i got out quck.

Its just goes and goes, but now its not a great spot to enter on M5.

TRADE 3 Wait for S1.S1 sell. Po triggered.
Arrow 1 Moving sl to the new box. Now waiting for another reason to move SL. Out at be.

Now wait for a Kc setup to the downside.

TRADE 4 The price went down and poke the lower band, paused an i have an pending order below the pause. Alt. Move the po to a banana,seed or cherry. Sl at 20 ema to start with.
Triggered.Moving SL with 20 ema.
Concerned, i see consecutive candles on M5.This is so bad.No more trading for me today.


I have realised some things these previous days and saw it very clear today.
I can not trade without wxtremely clear managing rules.
I have failed S1.
I have placed S1 to the sideline. The mother of all setups have i sat aside for Kc.

I am going to have S1 as my number one setup, and Kc as the second one. I know my Kc setups and working on the context.
But what i cant do is to manage the trades in the same way. They are different in the zoomlevel. and i cant look at M5 for managing the S1, just makes me confuse. So i am going to write it into my plan to make it clear.

Need to make room for both S1 and Kc in my head. I am going to have a balance between them.

For S1 i have a little trouble with SL. I am moving it like i have taken a Kc setup. And the fact that it is a Kc setup on M5 means that i have to give it a little room. I cant trail it as a Kc on M1.

I am changing my rules to Sl to Be at 1R(Like the old days , THEN and only then i can start trail the moving averages.
Or should i have the Box trail on. I have to just chose one and go with that. 
And if it mover to far to fast away from the avareges i will trail candles.
It has to have room to go up and down in the beginning.
Like today, box trail was over 1 R and trailing 10 ema had the same result.

For managing my Kc setups i will continue do as i have done.

Wednesday.png

 
 
 

[eaxh]

FORECAST AND PREP

NEWS Orange german news at 11:00 After my trading time.

D1 Sideways(YD Half strong move up.
H1 Up (Flagging)
M5 Up.

No trend from FO.If it goes up – GO. Because the trend is up on M5 and H1
If it goes down – Wait for M5 to confirm downtrend.

Iffy situation.
LOW ATR 

THOUGHTS DURING THE SESSION

Lo opens strong below FO.
Very near the Morning low and an H1 level. Iffy.

First candle- HUUUGE wick on M5. I am in waiting mode.Huge rejection from down under. A trade to the upside is okey.
H1 traders might look for longs.

Po above the 2 candle pullback. Moving it to the next candle and then closing it. No follow through.
Risky pending order, but H1 speaked for it.

Finally went down, but went to a zone on H1. Be careful. M5 down so that speaks for it. Okey to trade.

Wicks on both m5 and m1 Po closed.
The level on H1 attracted buyers.

TRADE 1 11:26 S1 sell. Wierd looking one but gives it a try.
Ended in rent.
Arrow 1- When this box formed i could have moved the sl to above that box.

After that my time was up.
okey dayTuesday trade 1.png
 
 


 

Hi Emma

We traded exactly the same signal with different exits. It's fun trading with you. Long may it continue!!

cheers 
 

 

Thats amazing  
well, I am in for the long run 
 

Cheers
 

[eaxh]

I havent been 100% satisfied with the template i used. 
I have now modified it. I am still oing to take the same trades. 
The problem with The Kc channel is that it looks like i can trade everywhere. It triggers my brain, 
So i have removed it. I dont think it will come back. 
Having Kc on have helped me alot with seeing if the move is climatic and now i can see it without the outer bands.
I dont know if this is the final template. We will see.

Why i have what i have.
H1 is still naked, dont need anything else.
M5 has just a raw KC template. I can use it to validate S1´s on M1.
Have the box because i love it on M5 And on M1 to visualize S1. 

This is one step on the right path.
Was reading the beginning of my journal and realised i´ve missed my 1st trading birthday. 

Was seeing setup 1 template and everything looked so easy.
Why have i made it hard when it was so simple...

I may have been subconsciously infected by Immy. In a good way. Back to basics. It worked and it still works so why have I been looking for shortcuts. There is no holy grail in indications. It's inside us. And I have been looking outside myself when I have had the solution in front of me since DAY ONE


Missing taking these. I cant take those with KC. They are awesome and i have filtered all of them.

S2 sell.png

 
This is Prototype 1.0

template change.png

 
 
 
 

[eaxh]

FORECAST AND PREP

NEWS Nothing in the morning. In the afternoon there is 2 RED EUR news. That could affect the traders. Meaning that swing and Daytraders might be careful and therefore low volume.

D1 The range is broken and a breakoutphase to the downside has started.
H1 Down
M5 No trend. Sideways. (downtrend broken)

Up from FO

If it goes up, okey to take S1, for pullbacks i want premarket range to be broken.
If it goes down We have premarket Low to respect. If it goes down that means a continuation of the YD move and GO.

Opens to the downside. Now wait for a pullback. M1 wicky.
Micropullback was available after the first M1 candle. Not in my plan so not taken.
First M5 candle- Bearish trendcandle.

Kc channel triggered my brain to go against M5. With it not present i an forced to look at M5.

H1 bounced on a level. Long is okey now.

Move on M1 Climatic so waiting for a little longer sideways to enter for a long position.
Drops now.


TRADE 5 Short from 10:50 2 candle pullback on M5-Resumption of Morning trend to the downside.Kicked out right away.
This thade was wrong. The Kc pullback vas invalidated on M5 which made the pullback on M1 wrong. Ds0. I call it a brainfart.


It goes up and breaks the box to the left on M5.
Trades are now okey to the upside.I need to sort this problem. Cant take these trade without a setup 1 first.

TRADE 6 Entry on a shallow pullback to the upside. Having the sl below the 20 ema to give it room for a deeper pullback.scooby now
I know that the entry was early. Giving it room ro sort that out.
If the candle hoes to the upside i will love my SL to belox the box. That happened. Now the price is at the peak of ”wave 3”
Now i will start to trail green line or 5C.
Mowing the disaster sl with the red line.
Closed below the line so SL beneith that candle. Lets see if i survive it or not. Very small rent on that one.S1 long now. PO above the box. All good according to the rules. DS1

Could have these early entries with half% risk and then add the rest if it sets up later too. To minimise the risk.

Not triggered. Off for lunch, kids are home so no more trading for me.

Thursday 2021-09-09.png

 

[eaxh]

FORECAST AND PREP

NEWS 11:30 orange and 14:30 CAD RED

D1 Same as YD, Tight range broken, move down 2-3 days  could be a slow day.
H1 Range (Wedge) Could be in a fourth wave. Tradeble on M1. Big enough.
M5 Up.Down from FO (slow) .

Could set up to a Lobot sell at the open. Nope it wont

If it goes down? M5 Tredning? Then GO
If it goes up? M5 trending up? GO

Be AWARE OF YD HIGH AND LOW. Dont trade to near them.

Opens to the down side. Wait for at least 2 candle pullback.
It blast of to the upside and testing the OL now. We have FO very near as well. If it goes up and pulls back a long is okey

PO above 3 candle pullback.
Trade 7 M5 candle closed above the box. Price retested Lo OL. So all good according to me.
Triggered.RENT

Ds0 because the range on M5 was not broken. It was pure hope with a good setup on M1.

Have to ask myself in my trading process- Will M5 traders trade here? At the top there? NOPE. 

Trade 8 Dax breaks the range to the upside and makes a 3 candle pullback. Triggerd and i start to move sl with red line. Exited with candletrail after 5 consecutive ones.

 Missed the pullback after it. 

friday 2021-09-10 105301.png

 
 

[eaxh]

BACK TO BASICS. 


I have settled a little with my strategy. 
I can see in the previous months when i have had trailing SL that my winrate is low and the winners are small. Its not optimal to have a strategy based on catching big winners on M1.
(Immy you are right... as always  )

So my final change is..........*drum roll

I am changing my profit taking to 2R target. (If very small candle i can even set a traget above 2R) I.e if S1 has a very small box and tz is far away.
My sl is still going to be calculated on a fixed pips. 
But the SL itself will i place below the signal candle. On candle near another candle i place sl under that one (internal bottom/high of wave 4)
SL-BE at 1 R
I will do this for 3 months and then evaluate. 

And the fact that i am literally doing the same on H1 makes it so easy.

With this managing i wont be stared to the screen and i will not have to do any descisionmaking when i am in a trade. 
So clear and so good. 

That means that i can put all focus and energy on the context and to just take the best setups.

Weekly review. 

This wasnt a very good week but there was something good that came out if. I am growing and adapting as a trader.

statistics for this week was 

What i did wrong. Managing and context.

It is with  :nailbitei am posting this..... 


 

Skärmbild 2021-09-11 133238.png

 





 
 

[immy]

Hey Emma

First thing I'd like to mention is that, I hope that you're not changing simply as a response to your First losing month of this year.
Secondly, I have a feeling that you are not doing the above. So if that is true, then you're stepping in the right direction. I have found that 2R works for me. I set the order, let ATM do its thing. Messing with my trades has been the biggest source of my frustration and anxiety. I do not want to do that. Let Discretion be out of the window. Lets trade as mechanically as possible.

I know you will have a winning september. Just a matter of time.

cheers

[eaxh]

Hey Emma

First thing I'd like to mention is that, I hope that you're not changing simply as a response to your First losing month of this year.
Secondly, I have a feeling that you are not doing the above. So if that is true, then you're stepping in the right direction. I have found that 2R works for me. I set the order, let ATM do its thing. Messing with my trades has been the biggest source of my frustration and anxiety. I do not want to do that. Let Discretion be out of the window. Lets trade as mechanically as possible.

I know you will have a winning september. Just a matter of time.

cheers

 

Hi! 
The losing month of august has nothing to do with the managing. That is a context problem. 

This way ( 2R targets) i can focus 100% on the context. So in my opinion i am stepping in the right direction

Cheers

[eaxh]

NEWS No news

D1 Down
H1 Sideways
M5 Breakphase to the upside
Up from FO

If it goes up Be careful around H1 range High.
If it goes down –”—Low. 

Dax opens to the upside.
Waiting for a pullback. At least 2 candle.

Trade 1 Entry above the 2Cpullback.
Very deliberating to not have to manage the trade manually.
Out BE.

Arrow 1 – Not taken. No impulse before it. And probably the end of the wave.

Trade 2 – M1 in a range, breaks out to the downside and pulls back and retests the pre box low.
What made me take this is that we can wee that M5 was not able to go any higher.  
We have a very clear H1 zone here and in that situation my plan allowes me to take these types of entrys.
My thought are wandering around to both justify and invalidate this setup on M1.
I try to keep my head clear. My account is not going to be ruined by this setup. Its just 0,3% risk.

Should have waited untill this one was cleared ( see range on picture)
 
 

Skärmbild 2021-09-13 Monday trade 1 and 2 dax.png