June Update + £1411 (£2 point)

Good afternoon,

I'm delighted to be the bearer of more good news, as you can see from the headline this has been another positive month.

I've been scalping the DAX reading the 5 minute candles. I have the 5 min chart open along with the 30 min chart and also the daily. I know support and resistance on all and the only indicator I am using is the RSI.

I trade two ways:

PHYSICALLY TRADING

1) I start a trading session by watching my screen and when I see overbought or oversold conditions I manually enter a trade. Timescale mostly from 10 seconds to around 2 minutes although I do let some winners ride for a maximum of 30 minutes.

RELAXING WITOUT PLATFORM OPEN

 2) I have my RSI alert set up (IG platform) to sound on my iPhone when RSI is either 80 or 20. I also set it for support and resistance points I have identified earlier in the day. This means I can go about my day and only consider trading when market conditions give me my highest probability for profit.

This month I have made 103 trades, 100 winners and just 3 losing trades I manually closed.

I feel confident in my ability to read the candles and trade this way. I may not trade again this month as the most important thing is for me to post positive returns every month. The money os nto important, I'm more focused on the points. 700 this month is a good harvest. I have plenty of time to up the stake but that won't happen this year.

I had a bad losing month this year which actually was down to me starving my account of funds. Yes I made a mistake by trading more than one instrument at a time (I never do that now) but my call was the right one, just failed due to underfunding.

It's been a long and emotional 3 years but I can feel the change in my attitude to risk and my confidence in my candle reading.

I have always though that if someone else can make money from the markets SO CAN I. I was not about to give up just because I'd made mistakes. Learning is about making mistakes, recognising them and working hard not to repeat them. There's still a long road ahead but I face the journey with confidence and humility.

Whether you've been with me all the way on my journey or recently discovered my blog I'd like to thank you for reading and wish you much success in your trading.