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clightmarathon
Registered: Oct 2011
Posts: 247 |
04-21-12 09:21 AM
Quote from jas_in_hbca:
I'm back.
Today i opened my Ninja trading platform for the first time since January. I've been working my real job (taxes) six days a week and have had absolutely no time for any trading or study.
Over the next week i'll be easing back in to trading. Reviewing my trading plan , my notes, charts and set ups. By May i'll be ready to trade with the proper focus and attention required.
This is the year i will get my trading to the next level - consistent profits and increased size. If not i've considered hiring a mentor. Honestly, though i think i have the knowledge within me and that a mentor would only provide hand holding. We'll see.
Enjoy your weekend traders !
GL.
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jas_in_hbca
Registered: Feb 2010
Posts: 618 |
04-26-12 07:50 PM
Thanks CL !
-----------
Dealing with ambiquity is a big part of the traders learning curve.
Today i stalked a trade for awhile waiting to see which way it would break. My bias was to the upside and PA clues were there confirming but i failed to act. (about 10:00 am 2705 level)
I think it comes down to lack of confidence in my ability to read price. For a discretionary trader the set up was pretty clear.
On one hand i feel i'm missing a piece of the the puzzle that will confirm the entry and on the other hand i think , as i said, i just need to have confidence (and balls) and take the trade.
Been reviewing and watching this week. First actual trading day in awhile. Initial thought was i'm just a little out of practice. Maybe. I need to reframe my self talk and and analysis so i'm taking these trades.
Good to be back. 
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jas_in_hbca
Registered: Feb 2010
Posts: 618 |
05-03-12 09:23 PM
No focus today for some reason. Tired i suppose. Frustrating as there were lots of good opportunities but i just wasn't reacting quick enough.
My exits have been less than ideal this week. Too focused on target and not current PA. Exited a couple trades too early on minor pullbacks and held a couple trades too long instead of exiting at logical S/R area. Trying to remain calm and objective when in the trade going forward.
There was also a sense of so much focus entering trade that i then relaxed and became too much of a spectator.
Trade results so far this week attached.
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clightmarathon
Registered: Oct 2011
Posts: 247 |
05-04-12 11:01 AM
Just here to learn, as a fellow student, so my comments are observations and not critique:
Checked your yesterday's trades on a 5M chart and you had 3 trades.
The first long was a counter trend long after a wide range body (WRB) candle and no double bottom, or higher low, so may be not a high probability entry, although the low of 05/02 was close. Were you bottom picking? Looking at the 1min chart, it was a decent entry, but the price clearly reversed around the 5m 20ema. May be a good target for your counter trend trade. Did you get a short signal on the 1m after that (same as your long may be) reversal?
The two shorts were kind of late in the trend for what I prefer, during/after the third push down, again not the highest probability.
At least you did not lose on them.
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jas_in_hbca
Registered: Feb 2010
Posts: 618 |
05-04-12 05:51 PM
CL, your comments are always welcomed and appreciated !
On the long trade i was seeing the 9:30 5 min bar as a 2B buy signal. Fined tuned the entry off the 1 minute. When it failed to quickly take out a res level i exited. I saw that sell signal a few minutes later but just didn't have my head in the game yesterday.
I think i was aware the shorts were late in the trend which is why i exited pretty quick when they didn't produce bigger gains immediately.
Thank you for taking the time to look and comment !
Quote from clightmarathon:
Just here to learn, as a fellow student, so my comments are observations and not critique:
Checked your yesterday's trades on a 5M chart and you had 3 trades.
The first long was a counter trend long after a wide range body (WRB) candle and no double bottom, or higher low, so may be not a high probability entry, although the low of 05/02 was close. Were you bottom picking? Looking at the 1min chart, it was a decent entry, but the price clearly reversed around the 5m 20ema. May be a good target for your counter trend trade. Did you get a short signal on the 1m after that (same as your long may be) reversal?
The two shorts were kind of late in the trend for what I prefer, during/after the third push down, again not the highest probability.
At least you did not lose on them.
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jas_in_hbca
Registered: Feb 2010
Posts: 618 |
05-04-12 10:50 PM
1st full week back trading; -4.50 pts
Missing trades is leading to taking higher risks set ups. Today 1st trade was good. Then I got too conservative and missed a trade i was waiting for. Long story short went from +4.75 to +.75 for the day on 3 trades. Should have been an easy + 10 day.
I'm missing pullback entries at S/R in the bigger trend. Happened a few times this week. I can't wrap my head around the idea that the trigger may just be a stall at the S/R level. If the turn happens quick then i wait , and miss, 'cause it feels like i'm chasing. This is what i'm working on figuring out and fixing.
chart attached of first 2 trades
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