An introduction to Darren and New Monday Blog posting
Welcome Decisive Traders and anyone that’s new to the site,
My name is Darren and I have been a student under James and decisive trading for a little under three years now. James has kindly entrusted me to hold my own weekly blog Post that I am planning to run on Mondays, I haven’t quite decided on the format of these posts but they will include my entrie(s) for the day and the reasons for getting into any positions along with some general trading thoughts and ideas.
Just a quick bit about my current trading activities, I did begin to write about my background but really you don’t care do you?! You want to know how I am trading and what I am doing differently to give me an edge. Well firstly let me state I currently still consider myself a semi professional trader, I still make mistakes and I am still ironing out the last of the kinks in my trading plan and psychology. The appeal of this blog was largely to show the journey, the ups and downs and the thinking of someone who is still effectively trying to make it in the day trading world.
So what results have I strung together and how do I trade? I have managed to put together several months of over 6% growth in the past, which I then began to undo at a rapid pace, you catch up with me now after having some time off reevaluating this particular plan and making it work again for me. That “for me” is something that is understated in my opinion with day trading and I will likely, next week, cover how my trading plan differs from the original DT plan in the course (for those of you that have taken it)
Before I get messages and emails about this, please do note that my zoning will be very different from James’ setups on the subscription page but rules relating to candlesticks and other criteria largely remain unchanged.
2nd September Dax (Short)
This was a typical entry for me where I was about 90% happy with getting short, what made it not quite perfect? Well the strong surge up gave some credit to considering the EXP for the level to look for management as opposed to the SR line I had drawn below. The zone was fairly key for me and had the added bonus of some recent price action closing and spiking just over the high price, potentially getting rid of a few stops and also triggering in some breakout buyers. Price action running up didn’t contain any engulfing candles so I was happy to get short.
One other confluence I will show in the third image is what the FTSE was doing at this time. I actually track 4 markets throughout the day and I believe there is a lot of credit to seeing what another market is doing to help build more reasons into taking or skipping an entry.
Zoning on the daily
If we take a look at the daily chart, I have added in some blue arrows to help illustrate why this zone was good to look for bears to sell off the market
Ftse price action confluence
Take a look at the price action on the FTSE as I entered my short position on the DAX, it made sense that it could well pull back to Test the R3 level after breaking through strongly, in fact had the SR line above tied in with a pivot or any of the HLOC lines then I am certain I would have gotten short on the FTSE as well or instead of the DAX
A good start to the month and took this for 1:1, there was however a very sloppy mistake. See I told you I still make them! Every month I increase my account size by 5000.00 GPB and I took this entry without adjusting for the new months deposit, so initially I was under staked, I had to add to the position as the price ticked back against me.
Future Blog posts
Just as James, posts his live trade video for any Wednesday trades. I will do the same for the Monday posts here (Win, Lose or BE) I would also like to add in a trading subject to cover each week, whether its just a short piece on my mindset during trading, money management, self improvement or anything else that springs to mind. Also this is my first public post about trading or anything at all for that matter, my first time using this blogging program so the format and quality will improve as I get used to it. Any comments or questions I would love to read below or you can contact me directly at firstname.lastname@example.org or connect with me on instagram “Darrenboness”
Thanks everyone and have a great trading week, make sure to look out for next Monday’s post