Testing strategy Day #1 (-15 points)

[TYROFOREX]

Note on volume: I used only tick volume for CFDs provided by the broker, so I am well aware this is not the real futures volume. However I deem it as a good approximation of the real futures volumes in the relative terms.

Dax (+5 points)

#1 trade: +10 points Long

1. price bounces back on high volume from the 50% retracement of low to high from the hour before on futures trading
2. price bounces back on the round mid number i.e. 12450

Closed as price touched the daily high and retraced back.
Play it safe at the lows and highs.

#2 trade: -5 points Short
Price made the high and bounced off the Daily R2 and round number 12500. The first bounce is usually the safest to trade for correction.
After the first down candle I entered short. Tight stop and got hit.
Price bounces back 2nd time and reverts. I didn't manage to catch that move and then I didn't want to chase the move.

#3 trade: break even, Long
Price stopped at the previous daily high and just above the High Volume Areas from the start of cash market trading.
I entered long and once price moved up, moved SL to break even and got hit.

#4 trade: break even, Long
the 09:28 CET candle was drawn in a blink of an eye. Priced continue to move down and some stopping volume was generated. It happened on the daily low.
Once price started to climb up, I entered Long.
With momentum I moved the SL to break even and got hit.

Nasdaq (-20 points)

#1 trade: +1,5 points, Long
At the start there were much points of reference. So after quite quick move up I decided to go long in the 2nd minute of trading.
As the price could not break the high, closed with small profit.

#2 trade: breakeven, Long
There was important support at 7516 so I went long as bounced off with high volume. SL hit.

#3 trade: breakeven, Long
After the deep into low, breaking support at 7516 and Daily R1, fierce come back and I enter long. SL hit.

#4 trade: -5 points, Long
Enter long again as price continue to rise. It is difficult to explain but when the candles were drawn, price was steadily going up, got hit from the above and then steady rise again, hit and rise again. So I thought that the buying power was significant and probably there was a one order being filled. Once filled price will shot up.
Unfortunately too tight stop and got hit.

#5 trade: -5 points, Short
As the price floated around 61,8% Fibo from last movement down, candles were short so I though that the move is exhausted at least for a while.
I entered short and with too tight stop got hit. Althougth the prediction was correct, wrong execution.

#6 trade: breakeven, short
Price still looks like wants to fall so I again enter short. Price moves with pace, I move my stop to BreakEven (BE) and instead of taking profit at the days low, I wait and SL got hit.
Play it safe at low and highs!

#7 trade: -4 points, long
Price quickly moved to the daily highs and once broken, I entered long. I didn't even had a chance to move my stop to BE, too quickly and got hit. The prediction was again correct, wrong execution.

#8 trade: -7 points, short
It was a result of above trade. I though that it was a false break out and entered short. Obviously got stopped out.

Conclusions

1. I trade too much especially the US session was too choopy and too emotional
2. as the result I hit too many SL/BEs and then re-enter in the same direction with much worse prices and lower probability to close in profit
3. my predictions are fairly accurate but my execution is shit
4. I need to be careful at the US session, as I am already tired with the day of work and may easily make stupid decisions

Overall my account today is approx down 10%.
I need to focus more and control my emotions and grid.

Tomorrow another day. Fingers crossed.

Best