Keeping things simple.

Hi Darktone,

It seems as though the strategy is proving itself, I am still not experienced enough to take on something like this but as I said before I could incorporate it at a later date. Do you only use the DAX for these trades or is the strategy suitable for more volatile forex markets too?
Hehe, well, i seem to doing my level best to make a mess of things atm, more on that later.
The dax is what i trade mostly but im looking at getting more involved in other markets. Theres no reason why the general method shouldnt work across the board. Large timeframe for direction and profit, small timeframe for loss control, these are sound principles in any market imho.

That is what my trading strategy will focus on (among some other things as mentioned in my thread) I am looking to have a strategy that revolves around key support/resistance points of the EUR/USD that are confirmed several times over a variety of timeframes. This makes long term trade movements seem logical. I will keep a close eye on news (for example ECB announcements) to make sure the trades remain in profit. I will be looking for a variety of 5/10 point moves depending on the strength of the line. In terms of an exit strategy I will set stop losses just above my lines with an acceptable tolerance.

Obviously this will be refined further as time passes, but I am looking forward to getting started. Like you I believe that a simple approach to trading is all that is needed. Let me know if you would like more info on the strategy and any feedback would be great. I will keep an eye on this thread for any developments.

Thanks
Tom
Will definitely pop in and have a look soon.

Cheers
D
 
This weeks results. Not good! :LOL:
The destabilizing part for me was not the point loss, but the way the losses were taken.Ie, outside of my plan!
Given the above, it seems like a good a time as any to talk about the other 90% side of trading. The emotional side! ;)

cheers
D
 

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So heres a quick run through of where I went off reservation last week.
It started through being frustrated with being stopped be (i hate stops!)
The story continues in the screenies.

Cheers
D
 

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So how did I manage my thoughts / emotions after becoming unhinged? The basic gist is write them down, exactly as you think them! Once on paper its easy (most times) to see them for what they really are, you can then answer / contest these thoughts with a more a rational view.

Will go into this a little deeper when i have more time.
The book i learnt this mind management method from is Feeling Good: The New Mood Therapy.

I cant really recommend it enough!

Cheers
D
 
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Current view of eurusd.
 

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Just a quick follow up from yesterdays efforts.
Am currently long eurusd 1.3511. So what are my outcomes from here?

In order of preference:
1) Out at target.
2) Out at best if D1 goes offside.
3) Out at/near BE.

Thats it! Thats all im gona trouble myself with till im out, will update then.

Cheers
D
 

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So, did u get out at 1) or 3) ??

Suspense is killing me :)

Peter
Dam daytraders! Anything longer than 30min is an investment!:cheesy: ;)
Still long atm mate, hoping to stay that way till target at 1.3811 but still time for a '3)'! :LOL:

Have you given any thought to the limit loss taking stuff yet? Think you were just about the only one to see any merit in it.

Cheers
D
 
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This weeks results. Kept a tight ship this week so reversed last weeks nonsense.
Trades below.
 

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Interesting to see the impact of last weeks off reservation trading when shown in a p&l bar graph.
(efforts for the month, offending trades highlighted in red)

Cheers
D
 

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Just a quick follow up from yesterdays efforts.
Am currently long eurusd 1.3511. So what are my outcomes from here?

In order of preference:
1) Out at target.
2) Out at best if D1 goes offside.
3) Out at/near BE.

Thats it! Thats all im gona trouble myself with till im out, will update then.

Cheers
D
Out last night at 1.3538 for + 26.6 (inc costs) as it went off side in the daily.
 

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This weeks results.

Cheers
D
 

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Weekly results and current position.
 

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This is the last trade for this year, also for this account and thread. Will have a sum up of what Ive done (the good and the bad) since funding the account 2k (start balance £2,123 on 17.10.13) when im flat.

Cheers D
 
It wasnt to be. Had to bail tonight as D1 changed tack.
Will have a sum up when I get a mo.

Cheers
D
 

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Have been waiting for the time to post up an 'in depth' summary but it aint happening! So heres some screenies and a basic list of what imo I did.
In general order of importance (imo).

The good:-
1) Kept to general framework of method. (With trend using multiple tf's)
2) I let run to tp or offside.

The not so good:-
1) Didnt take trades due to what i thought. :eek: (yeah, thats a biggie!)
2) Messed with target sizes. (made them smaller than normal for the most part)
3) Didnt take account seriously.
4) Changed direction D1 to 4hr.
5) Went to the cinema! :LOL: (trade 39, you wont have to look hard :p)
6) Traded markets i dont normally trade. (no biggie + I learnt something)

Other factors:-
1) Had some pretty serious (8/10) personal 'stuff' going on for a couple of weeks during the thread.
2) Let the public nature of the thread get in my head.

Where the account started 17/10 (dep 2k start balance £2123)
169688d1388049821-keeping-things-simple-deposit-etc.png


Ending summary.
169690d1388049821-keeping-things-simple-summary.png


All trades ec, including all the 0.10 play stuff.
169692d1388049821-keeping-things-simple-all-trades-ec.png


Individual trades and curves of each instrument. Play trades not included.
169694d1388049821-keeping-things-simple-trades-individual-ec.png
 

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So overall, how did I do?

Since the start of the thread the account has been little better than flat, around +8%.
Since the funding of the account things look a little better at touch over +60%.

Sound good? For some no doubt but Imho, all things considered, id put that result as very mediocre result relative to the opps I had during time I was involved. Sound harsh? Let me convince you otherwise.

Will only detail the dax winners due to time.

The time of the market i was involved in relative to D1 trend.
169696d1388068689-keeping-things-simple-d1-long-short-phases-i-involved-.png


The winning long trades. You can clearly see how much of the action that was missed in the daily swing up, some of it justified, some not. Is also clear how reigning in targets reduced return imo.
169698d1388068689-keeping-things-simple-winning-longs.png


Missed the first opp short here, mainly due to me messing with with other markets :whistling, cost me time/effort an £. Shame about the missed tp but its a bull market baby! :cheesy:
169700d1388068689-keeping-things-simple-winning-short.png


Thats about it, might do a recap on the main points i wanted to get across at some point.
Roll on next year! :D

Cheers
D
 

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