11/3 – Week#10 Wrap

Quick diary-type blog post.

Spent Monday working in shared office in Barcelona, Wed-Fri back in the trading office in central London.  Interesting day on Thursday thanks to ECB rate meeting and press conference.  I am sure a lot of money was made and lost that day.

Looked at more details on K7 strategy – still found it difficult to read the charts, but it’s started to head in the right  direction.  Also made progress with the “Round Numbers” strategy – and, after taking 16 live trades today [with minimal risk], realised how much I am taking advantage of my knowledge regarding continuation patterns, reversal patterns, EMAs and reading price action.  It’s fun to trade in the round number zones.

Didn’t really get any feedback on anyone being interested in working together on formulating a strategy, but did get some specific pointers on both the Trade2Win and the EliteTrader forums.  Wasn’t sure what kind of response to expect, but figured it was worth a shot.  Additionally, In searching for some “round numbers” material, I came across a great blog post by Boris Schlossberg in which he makes a bold proposal of how to become a skilled trader.  Click here for viewing his post.

Added USDCAD and US30 to my mix of instruments for trading the round numbers, removed AUDUSD and SPX.  It meant I was monitoring 8 instruments, after marking off my supply/resistance levels on various timeframes, determining my bias and figuring out the 1H trend (if any).  My MT4 platform served me very well for this purpose.  Managed to be at my desk at 7am sharp.  Things are starting to click back into place.

I’ll continue trading these things live for all of next week and learn as much as I can, formulate into a strategy and figure out what aspects of it lend themselves to back and forward testing.  Will trade K7 alongside this for the three middle sessions of the week.  It takes a lot of concentration, but it’s manageable.

Right, off to do some rollerblading….

 

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