Friday 5 December 2014

November 2014 Summary: A Lot of Trading To Iron Out Method: R-11


Week 1: 3rd - 7th November 2014: R-3.9 (success went to head). Summary: Basic, basic, basic, stuff lacking! Trend! TSL! Realistic PTs! Last week's success went to head, was focusing on LT goals in session rather than what needed to be done, as can be seen above (more here). Even the journal suffered ( was misidentifying faults). May sound down on myself  but I'm not, I just really needed to hammer home to myself here that I can't let the in session focus slip even for a minute... Not going to dwell but will remind myself occasionally this WE of what needs to be done then focus on relaxing and being fresh for Monday.

Week 2: 10-14th November 2014: R-1.1 (Some Confusion, Some Anticipation and Trading Overtired)Summary: The Plan is profitable, I just failed to follow it! I've got to stop trading Friday morning's as I am over tired and struggle to follow the plan. Maybe when I am successfully following the plan for the entire week I can work it back in. Getting an extra reason to get long or short helps trade IE Support/Resistance + (20ema / .00 / .50 / Y Hi / Y Lo)
Week 3: 17th-21st November 2014 : R-1.1 (Not Following the Plan Or Gaining Experience) Summary: The fact is I have been avoiding loads of trades and I need to trade more, to enable me to learn and earn more....
Week 4: 24-28th November 2014: R-3.9 (Messing with Method)Summary: Teething problems (messing with method!) at start of week, settled down on Thursday; Took John's comment on board dropping my work load. waited till actually wanted to trade (US session). Used 20EMA as barometer plus S&R to take trades (meant more of a waiting than "working" game), preprogrammed orders for all trades, walked away for a good deal of the time (updated stop levels occasionally), felt good.

UPDATE:  With a little Hindsight I think its important to add that this was really the month where I started to understand 2 things. 
 Firstly the importance of buying at demand (low) and selling at supply (low). And secondly that my method doesn't have to be complicated.  at the start of the month I was naffing around on three pairs labeling every high and low,  updating S& levels all the time... just running around like a headless chicken.
 Later in the month I knocked my work down to one pair (EURUSD) I stopped trading Friday mornings! More or less stopped updating highs and lows (unless it helped in someway) and based my method around waiting, doing very little before a setup, so I was fresh for it (using 20EMA as a barometer with S&R) instead of being absolutely spent and overwhelmed by the time it came.

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