I’ve been listening and following Wayne on and off over the last decade.
I’ve never had the prolonged opportunity to try and apply the disciplines he has coached over the years.
I’ve finally realized that there will always be something that prevents me from trading full time unless I just commit.
The last week I’ve had 3 very good EURUSD trades.
I managed to short it on the 9th at 1.1396, 1.1397 & for good measure at 1.1398. I got out on the 13th at 1.1239.
I took another few shorts on the 13th around 1.1269 to 1.1287 which also worked out perfectly.
When I got up this morning I thought that all the obvious moves for the week was over and that I am now without a plan for the day.
When I opened my charts I saw that DPP is @1.1231.
I decided that if I get a shot before or around London open near that lelve, then I will take it short again.
A while later (on the 1m chart) price approached and turned at 1.1227. In the past I’ve had discipline problems with pull the trigger to soon.
I decided that I had a good week, and will wait for a second test.
I got busy with something else and missed the second test and chance about 15min later.
When I looked up the market had bounced off 1.1228 a few times and were trading at 1.1222.
I was disappointed because I thought I missed it. Then I remembered Wayne always says that the market mostly comes back for you. So I waited.
2 minutes later I shorted the market at the top of a big-strong-pushing green candle @ 1.1226. And it worked.
It went down to 1.1208.
I fibbed it at that point and placed my stop below my entry but well above the .618.
If it sticks, I am targeting DM1-DS2.
I’d like to be up a few pips before news this afternoon.
I am nervous while writing this, because it is test the .618 a bit. Hopefully it holds.
If we can get below 1.1195 I will move my stop to previous high or .618