Two trading sessions later gone by since the last blog post.
The market has been quite choppy the past two days. There have been no big events (whether scheduled or unscheduled) triggering significant price action. The first US Presidential Debate triggered some risk-on sentiment (JPY weakened, commodity currencies and equities rallied – see this blog post for more discussion on risk sentiment) but this reversed early in the London session. Ongoing chatter from meetings amongst oil-heavyweight individuals from Iran, Saudi Arabia etc.
Discipline, compliance with processes, documentation and so on (even mental visualization exercises) have been pretty good.
K5 setups have been few – but I think I got them all (7-8 of them).
Trades taken in the morning at 8am, 9am have been working well. Trades taken around lunch time, or in the afternoon, have not been working out.
Allowing for the possibility of applying K5 on a lower timeframe (lower than the 1-hour timeframe) opens up the door of many trading opportunities – which can be like a two-edged sword.
Have also take one trade that relates to a strategy idea, rather than the K5 strategy that I have tested and experimented with. Might be a bit premature to trade on the basis of strategy ideas.
In process of working with some volatility information, using the Average True Range (ATR) indicator – in objectively assessing market conditions.
Two more sessions this week. Will be travelling on Friday (and Monday).