Monday session. Working from home (as planned). Terrible time getting to sleep last night. Finally fell asleep around 3am. Got up with the alarm at 9.30am. Started work at 11am. Followed up on getting trial for Tom Hougaard trading room – actually briefly spoke with Tom himself on the phone – should be happening on Tuesday.
Not a lot of movement on the FX charts. identified those instruments that looked like they had a consistent and smooth trend. This reduced the list to around 5 items. Considered things from a multiple timeframe perspective. In the end took 4 trades – two from the 1M timeframe (DAX), one from the 5M (Dow [Dow Jones Industrial Index]), and one from the 15M (CHFJPY). The initial DAX trade was arguably opened too early. It seems that the 1 hour period prior to the Wall Street opening bell (at 2.30pm GMT) is good – managed to, with complete luck, scratch the first DAX trade, and also made a small profit on the long Dow trade (the DAX and the Dow are not the same on the higher timeframes) before it rolled over. Left a lot of money on the table with the 2nd DAX trade – it continued to decline after I had exited the trade.
Net result: 3 scratch trades and one winner for a net gain of 0.95R. See charts below.
(7-9pm) Listened to the ETX Capital webinar on trend-following strategy. The presentation is really-well organised with great chart shots – so I highly recommend it (though it’s quite similar to the ETX presentation in the Sep18 Round The Clock webinar). I am finding that even though the presentation is targeted at beginning traders, it is really helping me to digest the EMA strategy in my mind. I think it also shows that there are some things that I just didn’t learn properly even though I have the principles time and time again. One specific point I realised (again) is that in many cases I tried to apply the EMA strategy when there was not a clear trend in place.