Black Dog Dax Trades 27.01.16

Wow – how time flies.

This post was penned a couple of days after the Dax trades were taken – then I forgot about it..!! Not good.

So, apologies for that. The busy life of a trader, hey?

Quick Catchup

I thought that I would catch up on a few things as I’m not trading today due to it being President’s Day and a holiday in the US. The market tends to be rather quiet during these times and getting myself into a flatliner is no fun at all.

The reason for this post is merely just a quick update on how things are coming along with our trading program and perhaps a little bragging on my part as we had two very good days at the end of the week, more of that later. Our new members are taking to the program like ducks to water and coming along fine with the minimum of fuss. Once the basics are learned then it really is easy to make progress. The most difficult thing, I feel, is getting ‘into the groove’.

By that I mean really getting to know how the methods work, being ‘in sync’ with them, and taking the time to really understand how things work. It really does pay off in the long run. Our members in the Trading Room are reaping the benefits too as they spend each day trading the Dogs.

I really should try and do an update at the end of each trading week. I think this is a good idea.

A Few Dax Trades

Anyway, back to the charts and a few trades. These two particular days proved to be very good days whereas Monday and Tuesday were simply average. The chart below shows the M5 Dax for the trades taken on the 27th Jan for a total of 118 pips.

[Please click chart to view larger image]

Black Dog Dax Trades 27.01.16

I had the full day to trade with few distractions but still took regular breaks and let the alarms call me to the screen. My method of trading is explained in previous posts and it works like a charm though these charts have our indicators excluded for clarity.

The pip haul could have, and probably should have, been much larger especially the ‘0’ trade in the centre of the chart. I have no excuses.

The next day was just as good, though I took only two trades. As you can see, the first trade was against the main trend and in this case I use only half stakes. This is the type of trade where I take most losers and have altered my stake size accordingly. Trading against the overall higher time frame trend often has the dreaded outcome so by lowering the stake size any losses are not so hard to take.

Black Dog Dax Trades 28.01.16

 All in all, two very good days which, in the scheme of things, are not so uncommon, but rarely two good days one after the other.

In the intervening days since these trades there have been many good days – BUT making sure that any trades with those full stakes are WITH the higher time frame trend, and any counter-trend trades are with half stakes thus reducing the risk.

Leave A Response