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I did Als course in the spring of 2020, after I'd been trading for about 1½ years. I spent the first year following different "experts", picking up bits and pieces. Got into Elliott Wave Theory, traded different stocks (mostly on NYSE). After a while I dipped my feet into CFD trading in the DAX index and found this really interesting, with lots of potential. From there I started building strategies and coding an automated trader in Excel, which traded for me back in january- march 2020 (didn't do great, but I learnt a lot).
After all that I came across one of Als books and had a hard time understading High 1/2, Low 1/2, from reading about it. Went on the web, found this site, signed up and engulfed myself in the course material.
Went on a crazy daytradings spree, lost 25% of my trading capital, got a day job and took a break over the summer, and now came back.
I've been trading this past week, with a patience I didn't have in spring. I believe it's because I now have my primary income from a dayjob, and (since I'm in Europe) then trade during the evenings. US market is open from 3.30 pm - 10 pm for me. I've reduced the amount of trades I take to between 1-3 a day, and quit if I loose 1% of my capital in a given day. My initial risk is between ½ - 1 % on any position and I have been doing this on Tradingviews papertrading, to see if my eyes and mindset have adjusted from the selfimploding routine I ran in the beginning of the year.
Here is the account history for the past 4 days:
Week 5, Day 4
Chart
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Summary
I started the day trading DAX and killing it, which meant that I came into the US session a bit too cocky. This resulted in me over confidentially entering the market short on the second bar with way too much risk. I got stopped out, stepped back and readjusted myself, trying to look at things with fresh eyes.
Went long twice with the correct risk but chickened out in a bear trap only to realise that a near perfect IHS pattern had formed. I kept my wits about me and re-entered long on a good signal from the right shoulder and rode the bull break out almost perfectly to the top, just below yesterday’s high and EMA on 60 minute.
A couple of mistakes happened today. I need to keep patient in PBs as they often last longer than expected. I need to wait for a reversal, rather than to try to foresee them. And I need to be careful of upping my risk because I feel to confident.
Todays result = -0,02%
Week 5, Day 5
Not trading today, as I'm spending time with my kids
Week 6, Day 1
Not trading today
Week 6, Day 2
Chart
List
Summary
I had a couple of good entries. However, with no exit strategy I failed to capitalize. I am struggling with greed as market moves in my direction. FoMo kicks in both, when trying to enter the market as well as when wanting to exit. I still need to build the patience to take profits at measured moves, as I am good at entering upon the right conditions.
Todays result = -0,73%
Week 6, Day 3
Not trading today
Week 6, Day 4
Chart
List
Summary
Jumped on the initial bull run after a strong open and got out just when I should at a MM, well done! Then I got impatient and instead of waiting for a probable TR, I went back in and lost what I had just won. Back to square one. The slow trickle down confused me and when I saw a strong bear bar I was quick to jump on it for all the wrong reasons, completely ignoring warnings… Big bar, late in trend, TR PA, Close to LoD. Market sure showed me. Fortunately I had set my stop above HoD and started the waiting game, as I saw a LH form, I added to my short position and closed everything a yet another MM 2nd leg down, making today slightly profitable.
Practicing my trade management and today it paid off.
Today’s result = 0.36%
Week 6, Day 5
Not trading today
So far for the past weeks the result is as follows:
Total P/L to date = +1.48%
Average daily P/L = +0.64%
For now that adds up to being profitable. I have decided to keep this journey going for the rest of the year and see where I end up. That is just about 3 months of daytrading. If I end up profitable over that time, I will be going back to trading real capital.
Congratulations for beeing profitable so far!!
Week 7, Day 1
Chart
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Summary
I was nervous going into the session today. The move just before the open surprised me and was extreme, why I traded with caution today.
The opening did look like a reversal and I entered with 0.25% risk. Added on what I thought would be a wedge, however it needed a small move further up before turning back down. When I felt fairly sure the market was continuing the bear trend, I now had a full 1% risk to a stop above HoD (taken from the globex session).
Once market hit LoD in session, which corresponded with EMA on 15 minute chart, I decided to exit above bull bar, even with the tail on top, as we could still be in a TR, and to many times before have I been stubborn and held onto a position only to see profits dwindle.
Market sold off by at the end, but simply due to all of the support levels from previous LoD down to below 12th of October High and being close to the end of the session, I didn’t feel like re-entering.
Today’s result = 0.26%
I'm not going to update this thread any longer.
