SniperDaytrader´s journal

US session didn't heat up until after US house Sales 30mins after the bell, but pretty good for Forex and DAX today, close enough to target in my available time.

Comparing NQ and YM till Fridays action, very slow.

I see GOLD was getting all of the attention today, can you trade Gold ??

Something is always moving, if not YM/NQ it's gold or oil or forex, trade what's hot.
 
Well, I could trade gold. I have been trading DAX in the past as well. The question is, do I want to? No, I don´t. First of all gold is too expensive market for me. Second of all, advantage of my approach is that it gives you high win%, disadvantage is that you have to develop a feel for the market.

YM and NQ is more than enough for me for now. There will be enough opportunities until the end of the week, I am sure. I am planning to trade also other markets, but first I need to master those two. I am still just at the start line :)
 
Fair enough, spread costs are too high on gold and oil for me, cheapest being the DAX.

This just hobby pocket money or looking to go full time? if hobby then no rush I guess, full time soon for me need profits most days. ( business is dying, hence my rush for perfection)
 
I hope to make it to full-time too. Don´t rush tough. If you NEED to make money on the markets to survive, you already lost. You will be in constant pressure to take some trades even if the conditions are not 100%. Yesterday was perfect example. I simply decided to stop trading after the first trade, because the volume was not right for me. You have to have the luxury of not having to make money to make money in markets :)
 
SniperDaytrader said:
I hope to make it to full-time too. Don´t rush tough. If you NEED to make money on the markets to survive, you already lost. You will be in constant pressure to take some trades even if the conditions are not 100%. Yesterday was perfect example. I simply decided to stop trading after the first trade, because the volume was not right for me. You have to have the luxury of not having to make money to make money in markets :)
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It's right, the added pressure of having to make money, doesn't help, but got to power on past it regardless, the trick is being able to make enough money easily enough that you don't have to work your ass off / take every trade.

9weeks, till I have zero other income does not help ( might get some work or might no ?? Best to plan for worst case I find )
 
"This is why I call it sniper daytrading. When executed correctly my approach allows me to enter the trades with extremely limited risk resulting in great RRR (risk-reward-ratio)."

The long-term average RRR and winning pct form an inverse relationship.
 
February 24, 2015
I missed couple of good opportunities today to close the day in a loss.


T1 This was nice trade. The market reacted nicely to my preplanned support level. I took long just 3 ticks from the bottom. However the trade management was a huge fail. There was not really a reason to get out. BE+1

T2 I still cannot understand why I did take this trade. It was short from historical highs. Total crap. I am ashamed. -13
 
February 25, 2015 mistakes again
Today I continued to make mistakes. Even when the market was extremely slow and didn't offer much opportunities I could end up in black numbers, haven't I make so many stupid mistakes.



T1 I took the short from what I analysed is a false breaktrough from consolidation. Other markets have been falling. I took the trade prematurely resulting in very bad price and huge risk (not used to 8 ticks). But the biggest mistake was that because of my greed and despite the fact I entered at bad price, I didn't take 12 ticks profit even when I could. Third mistake was that after I saw the market returning back to my entry point I didn't close the trade and instead of that kept HOPING that it will return back. Hoping is one of the surest way to lose money in this business. One trade, three mistakes. Not good. -11
 
It happens, I'm down again, 2 days in a row, arrggghhhhhhhh!

random chance on a spike hitting SL, 1 order got messed up, SL 8, SL triggered at -4, went 15pips typical. :(

Sometimes, you'll get runs of just bad random chance, others the opposite, they happen, don't let them get to you.
 
Well, I cannot blame the random chance on this one. Both my losers are my mistakes. I am not a robot to not make any mistakes but in both cases it was very amateurish mistake.
 
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