Learning

0 1721

The 2016 trading year has started! Christmas & New Year breaks are always looked forward to but I don’t know about you but I always end up looking forward to the start of the new trading year. In recent years I’ve been hindered at the start of the year by man flu & general illness but this year I’m feeling great!

I did a trade debrief blog post thing last year & believe they are a useful follow up to any snapchat or twitter updates regarding trades for people to learn from.

How does it all work?

During my trading session (normally morning), if possible, I will send out a series of updates regarding trades via;

Twitter – @piptasticUK

Snapchat – username damonelliott1 (note – this has to be added manually)

These social media channels are useful as its fairly instant & I can take a picture, post it with a small description without too much interruption.

I’ll then do a more in depth debrief of the trades via the blog here at piptastic.com which I’ll let you know once it is uploaded via the Piptastic Facebook page ( www.facebook.com/piptastictrading ) plus twitter.

Please note – this is not a daily thing. I will try to do it as often as I can but sometimes it just won’t be possible.

Anyway, onto todays trades. (All screenshots from DAX 5minute chart unless stated otherwise)

Trade 1 – Straight forward pivot entry. Price had broken & closed beyond the pivot point of 10339 with a decent stop/hedging level if it reversed. If you look closely it also could have been taken as a 123 trade or using the bigger candle from around 0810 which was bouncing off the 18ema (big stop though)

Trade 1 - Standard pivot entry
Trade 1 – Standard pivot entry

Trade 2 – Break of the 10300 level. As with any horizontal breaks, it is better to wait for the 5ema to come through the break level too so the initial break had a candle which was too large to put an effective stop onto so I waited. The next candle was pretty much perfect with an entry with a much smaller stop only 17pts away. This was a fairly quick trade as price motored down to the pivot level quickly.

Trade 2 - Break of 10300 level
Trade 2 – Break of 10300 level

Trade 3- This is a little bit more difficult to explain but a trade where I think market experience kicked in. I could see that the strength was with the sellers at this point but the stop was a little bit too high for my liking. Both the 5minute & 2minute chart displayed similar entry points but the stop was much smaller on the 2min. So, I entered on a pivot trade entry via the 5min chart but placed stop as per the 2min chart.

Trade 05012016c
Trade 3- Pivot Entry 5minute chart
Trade 05012016d
Trade 3 – Pivot Entry with stop placed on 2min chart

 

 

 

 

 

 

 

 

 

 

 

Exit of Trade 3 – As with a lot of my pivot trades, if price starts to pull too far away from the 5ema then I will look to exit the trade or move my stop to b/e or better. In this case I had already moved my stop to +5 but when it pulled even further away, it made sense to exit the trade with about +24. Price did eventually move south but only after it had pulled back & then messed around for a short while so the exit saved me a bit of eye strain & trade management.

Trade 05012016e
Trade 3 Exit

So, that was me done for the morning & I hope there is some good learning points in there for you.

Damon

0 1683

Good Morning & welcome to the start of another trading week! Just a thought but there is only about 23 trading days of the year left!
Most people will know that I’m primarily a pivot trader but the important thing to also realise is that i never lose sight of my primary & secondary daily goals/targets. To recap, my primary goal of any trading day is 10pts – this is largely a historic target which I keep as I tend to see it as my “job” or at least what I’m obligated to do for my family. Once the primary target is done then I have the option of an early finish or I can carry on trading that day on my secondary account which is what I refer to as our gadgets/ gizmo’s/holidays/treats etc etc..I’ll discuss this in more detail in a later post as todays trade was a very good example of how I approach this.
This mornings trade;
1. I’m initially on the Dax 5min chart but can see that there is a pretty decent sell off taking place which isnt giving to many footholds to get into on the higher timeframes so I drop down to the 2min chart
2. Price breaks down through the pivot & I can see by following the tick by tick proce action that the buyers are being pushed back at every opportunity. (check out the upper wicks on each of the red candles).This sort of trade entry is a dilemna because it is a good solid pivot entry but the 5 min chart is miles away from the 5ema. When this happens, you manage the trade as per the timeframe you took the trade (thats important until the trade is firmly in profit at which point you can manage the trade via a higher timeframe)

Trade 23112015
3. So, pivot entry, with stop at high of anchor candle just prior to the pivot break. Stop is around 20pts so normal for the Dax with a potential pivot run of 20pts so all good there.In the event of a price reversal then worse case scenario is a 20pt stop or a 20pt hedge – its early in the session so plenty of time to recover if this happens.
4. Price then makes a quick drop of 10pts+ so I’m banking my 10pts & closing the trade, opting for intial target rather than glory of the pivot run. This is fairly normal practice for my first trade of the day as I like the option of deciding what to do for the rest of the day.Trade 23112015b

Hope that’s useful!

Damon

0 2752

There is a lot of exciting aspects & challenges to the home based trader but what about the hidden challenges that we face? Lots of home based traders often face battles with the isolation that trading can bring, often questioning whether “normal” people can succeed & what the right path to take to move forward is. In todays episode I’ll be discussing various conversations I have had over the past week with traders on these areas & my thoughts & advice on them.

Mentioned in todays Podcast

Become a Piptastic Member here

Piptastic Facebook Page for exclusive content, “like” our page at www.Facebook.com/piptastictrading including screenshots & explanations of trades I’ve taken

Check out & Subscribe to the Piptastic Youtube Channel here

Snapchat: damonelliott1

Damon Elliott uses ETX Capital as his trading platform. Click here to join ETX Capital

Right click here & “save as” to download this episode to your computer

THANKS FOR LISTENING!

Don’t forget to subscribe to the show on iTunes to get automatic updates.

Thanks again for listening to the show! If it has helped you in any way then please feel free to share it.

Additionally, reviews for the podcast on iTunes are extremely helpful and greatly appreciated! They do matter in the rankings of the show and I read each and every one of them.

And lastly, if you have any trading related questions, please email me at damon@piptastic.com – this show has over 40,000 downloads and counting so the answer to your question could be the difference to a fellow trader!

0 3022

Are the thoughts we process when entering a trade actually harming our decision making? In todays podcast I’ll be discussing how you can possibly reframe your trading decisions to create a less stressful experience within your trading. Also in this episode is a chat about defining a trading method blueprint to effectively model & build upon.

Mentioned in todays Podcast

Become a Piptastic Member here

Piptastic Facebook Page for exclusive content, “like” our page at www.Facebook.com/piptastictrading

Check out & Subscribe to the Piptastic Youtube Channel here

Snapchat: damonelliott1

Damon Elliott uses ETX Capital as his trading platform. Click here to join ETX Capital

Right click here & “save as” to download this episode to your computer

THANKS FOR LISTENING!

Don’t forget to subscribe to the show on iTunes to get automatic updates.

Thanks again for listening to the show! If it has helped you in any way then please feel free to share it.

Additionally, reviews for the podcast on iTunes are extremely helpful and greatly appreciated! They do matter in the rankings of the show and I read each and every one of them.

And lastly, if you have any trading related questions, please email me at damon@piptastic.com – this show has over 38,000 downloads and counting so the answer to your question could be the difference to a fellow trader!

0 2655

In todays podcast I’ll be discussing whether or not traders have bad mood days, how to ensure you use Twitter as an effective trading tool plus a close look at the world of hedging in trading & how it will help you reduce your losses & more importantly help you prevent silly entries.

Mentioned in todays Podcast

Become a Piptastic Member here

Piptastic Facebook Page for exclusive content, “like” our page at www.Facebook.com/piptastictrading

Check out & Subscribe to the Piptastic Youtube Channel here

Snapchat: damonelliott1

Damon Elliott uses ETX Capital as his trading platform. Click here to join ETX Capital

Right click here & “save as” to download this episode to your computer

THANKS FOR LISTENING!

Don’t forget to subscribe to the show on iTunes to get automatic updates.

Thanks again for listening to the show! If it has helped you in any way then please feel free to share it.

Additionally, reviews for the podcast on iTunes are extremely helpful and greatly appreciated! They do matter in the rankings of the show and I read each and every one of them.

And lastly, if you have any trading related questions, please email me at damon@piptastic.com – this show has over 36,000 downloads and counting so the answer to your question could be the difference to a fellow trader!

0 1720

Not a completely random podcast but more of a conversational one where I talk about different areas of trading & self development. However there is a dedicated section which could be a positive game changer for most in trading.

Mentioned in todays Podcast

Become a Piptastic Member here

Piptastic Facebook Page for exclusive content, “like” our page at www.Facebook.com/piptastictrading

Check out & Subscribe to the Piptastic Youtube Channel here

Snapchat: damonelliott1

Damon Elliott uses ETX Capital as his trading platform. Click here to join ETX Capital

Right click here & “save as” to download this episode to your computer

THANKS FOR LISTENING!

Don’t forget to subscribe to the show on iTunes to get automatic updates.

Thanks again for listening to the show! If it has helped you in any way then please feel free to share it.

Additionally, reviews for the podcast on iTunes are extremely helpful and greatly appreciated! They do matter in the rankings of the show and I read each and every one of them.

And lastly, if you have any trading related questions, please email me at damon@piptastic.com – this show has over 34,500 downloads and counting so the answer to your question could be the difference to a fellow trader!

0 2117

In the past few weeks we have seen some awesome drops in the markets but also a large number of traders seemed to get caught on the wrong side of the drops. In todays podcast I’m discussing the concept of trading what you see, not what you want to see or indeed what you think you see. Also, how to use trading education as a blueprint for your future success.

Mentioned in todays Podcast

Piptastic Facebook Page for exclusive content, “like” our page at www.Facebook.com/piptastictrading

Check out & Subscribe to the Piptastic Youtube Channel here

Snapchat: damonelliott1

Damon Elliott uses ETX Capital as his trading platform. Click here to join ETX Capital

Right click here & “save as” to download this episode to your computer

THANKS FOR LISTENING!

Don’t forget to subscribe to the show on iTunes to get automatic updates.

Thanks again for listening to the show! If it has helped you in any way then please feel free to share it.

Additionally, reviews for the podcast on iTunes are extremely helpful and greatly appreciated! They do matter in the rankings of the show and I read each and every one of them.

And lastly, if you have any trading related questions, please email me at damon@piptastic.com – this show has over 33,000 downloads and counting so the answer to your question could be the difference to a fellow trader!

0 2042
3 secrets of trading success
3 secrets of trading success

Welcome to Episode 50! In this episode I wanted to share with you several of the “secrets” that I have in my trading. I use the term “secret” loosely as many people would have heard one or two of the things before but it may have gone amiss. What Im discussing today is that in my day to day trading there is very little that has changed from podcast 1 through to podcast 50 but more importantly going back over 7years. I also talk about patience & discipline & look at what specifically that would mean to you as a trader.

Mentioned in todays Podcast

Piptastic Facebook Page for exclusive content, “like” our page at www.Facebook.com/piptastictrading

Check out & Subscribe to the Piptastic Youtube Channel here

Snapchat: damonelliott1

Damon Elliott uses ETX Capital as his trading platform. Click here to join ETX Capital

Right click here & “save as” to download this episode to your computer

THANKS FOR LISTENING!

Don’t forget to subscribe to the show on iTunes to get automatic updates.

Thanks again for listening to the show! If it has helped you in any way then please feel free to share it.

Additionally, reviews for the podcast on iTunes are extremely helpful and greatly appreciated! They do matter in the rankings of the show and I read each and every one of them.

And lastly, if you have any trading related questions, please email me at damon@piptastic.com – this show has over 30,000 downloads and counting so the answer to your question could be the difference to a fellow trader!

0 1939

Success in trading to many can seem such a long way off or you might face a period where you can’t see where the next successful trade is coming from. In this podcast I’ll be discussing ways in which you can strip back your trading & restructure it so you can start to fast track yourself to profitable & consistent trading. I also discuss how the fear of losing is much stronger than the thrill of winning but more importantly how you can start to reduce that fear in order to stop closing trades too early.

Mentioned in todays Podcast

Piptastic Facebook Page for exclusive content, “like” our page at www.Facebook.com/piptastictrading

Check out & Subscribe to the Piptastic Youtube Channel here

Snapchat: damonelliott1

Damon Elliott uses ETX Capital as his trading platform. Click here to join ETX Capital

Right click here & “save as” to download this episode to your computer

THANKS FOR LISTENING!

Don’t forget to subscribe to the show on iTunes to get automatic updates.

Thanks again for listening to the show! If it has helped you in any way then please feel free to share it.

Additionally, reviews for the podcast on iTunes are extremely helpful and greatly appreciated! They do matter in the rankings of the show and I read each and every one of them.

And lastly, if you have any trading related questions, please email me at damon@piptastic.com – this show has over 30,000 downloads and counting so the answer to your question could be the difference to a fellow trader!

0 1744

It’s that time of year again when many traders have to be surgically removed from their man caves & forced to go on holiday. We recently had a fantastic road trip type holiday in Florida & in todays podcast I thought I’d share some of my trading reflections with you. I found these reflections quite interesting as I initially planned to continue trading whilst on the road but as you listen, you will see that things didn’t go quite as planned. I suspect these reflections are not as unique as I think!

Mentioned in todays Podcast

Piptastic Facebook Page for exclusive content, “like” our page at www.Facebook.com/piptastictrading

Snapchat: damonelliott1

Right click here & “save as” to download this episode to your computer

THANKS FOR LISTENING!

Don’t forget to subscribe to the show on iTunes to get automatic updates.

Thanks again for listening to the show! If it has helped you in any way then please feel free to share it.

Additionally, reviews for the podcast on iTunes are extremely helpful and greatly appreciated! They do matter in the rankings of the show and I read each and every one of them.

And lastly, if you have any trading related questions, please email me at damon@piptastic.com – this show has over 30,000 downloads and counting so the answer to your question could be the difference to a fellow trader!

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