Welcome to the daily DAX commentary where we share with members our unique take on Price Action as the session unfolds. We comment on trade setups that conform to our Trading Edge and how we use the hybrid Blackbox Trade Controller for MT4.
Use the comments section below to post questions and read what others are saying.
Remember to:
- Follow your Trading Plan.
- Practice Visualization Techniques.
- Review and journal your trades at the end of each session.
- And above all else Be The Bear….
Just came back to my desk to see the GZ M1 Sell Micro-MAB at the H1 EQZ@11516.8, I might have been tempted had I seen it real-time…
I marked up the above sell setup but passed and the earlier M15 Buy MAB, for now I’m wanting to watch and once again get back to basics.
November was a poor month for me, down -14.72% 🙁
I’ve reviewed my trades and many of them were not MABs or FIBCONs. I’d chased price due to FOMO then ended up moving my stop thus increasing my risk etc.
Over the weekend I’ve gone through my trading plan and updated it accordingly but the one update I’m hard-wiring into my mindset asap is:
“Can I see the A-B-C with Excellent Role-Reversal?”
The heart of our edge is the A-B-C pattern, that’s why we’ve documented it in detail on the website. Yet in my day to day trading I keep getting drawn into trades that are not really valid setups. Sometimes they work out but often not and they have negative compounding effect on my results.
It’s time to move beyond this, it’s time to re-program and re-wire my mind-set for success!
A decent GZ M5 Buy MAB, I was waiting for price to test the channel before entering and missed it.
