I will try to share a daily report of trading the DAX M1. There will be either 1 or two reports of the trading we did in the morning and or afternoon.
This will allow me to look back at the trades and learn from it.
So today it was a bit of a mix up. Started with failing to upgrade PC to the latest update. I had it shut down last night thinking it was done. Woke up and it only started doing updates. I got to pc late, i.e. dead spot on at London Open. I should have switched it on an hr earlier. It would have been ok having missed FO.
My mindset was not right. I have noticed that on NFP day I'm reluctant to trade in the am. But m1 DAX has nothing to do with that. I have seen it move and not move without any pattern that we can follow.
It's completely random when it moves or doesn't on the m1 chart. The only predictability it allows us to rely upon is that it usually brings in considerably good amount of volatility at London open on most days.
What I learned Today: I will come back with a clear set of goals. I will look at it every day, with a clear mindset. I will trade it if the setup is there. simple.
Updated: 10.44 BST
While posting the above, I was in the process of missing the setup to the right of the pic above and as below
Never mind, these few post should let you unfold the way we trade. However if you'd like to learn further please consider joining us. It might seem like a bit of money going out of your hands but in reality you will get back much more than what you pay.
In life trading is an important factor. We trade in everything we do in life. Every decision we make is trading.
Below a little 10s Elliott wave analysis of the morning action.
I am updating this post at 12:45 BST.
Price peaked as you see in the pic above .and then it started doing down waves. You can see the 3 down in the pic above. below you'll see it was completed with a 5 down.
Note: eWave and ATM are proprietary software not sold by iTradeAIMS but can be obtained at our friends website. www.for-exe.com