still having a tough time. I did finally (hah!) identify the trend as down this morning, but still had trouble finding good entries... hard to believe in hindsight.
Up to 10:50am it was nothing but a downtrend. Took eight shorts there, will display later in the day.
Trades for 07-25-07 Note1: When a trendline is broken and the last high is a lower high it's safe to take a short on a pop up. Unfortunately, the pop up never occurred and I could not get my fill, but I was shooting for a good target there. Worked like a charm except I could not capitalize from it due to no pop up. The least you want to do when that happens is chase it. Note2: Change of a trend. At this point you should see why. I took a short there, lost and took a full stop. Note3: At the top see those higher high tops ? Well as priced tanked I took a long when price stabilized and worked well. Not sure if it was the most optimal play (high stochs and all) but took my quick profits little bit below resistance and said to myself take your break, your day is over. As always, vertical red lines shorts, vertical green lines long, with the trend, on the pullbacks/pop ups. Third short got stopped out. Fifth short BE trade. Rest did well. Longs did well. Not so hard, just need to polish those skills of constantly examining the LL HH LH HL. Last but not least maximum discipline at all times Real nice market today. Anek PS: Morning > Afternoon but there are exceptions like yesterday (sob!)
Could not say no to this one.... Once again, trendline break on lower highs. Trailing this baby, let us see how it goes.
Great charts. It looks like you enter your trades when the price crossed the middle of the bollinger band rather than off of the sto. Is this correct?
Not taking profits until a higher high is made. Little lesson in letting the winners run. Hope it goes well for the illustration.
Thanks appreciated. Not exactly but it looks that way does not it, good observation. Remember that I must get the fill so sometimes the entry is not exactly the most optimal although I make an effort to get it.
....and the conclusion. The higher lows hinted it and the higher high confirmed it. Optimal cover point possibly the higher low formation but as you eat lunch and take the rest of the day off it's ok to say once in a while, WTF let's see if it can make a new HH, and well it did.
It's hard to get the fill RIGHT when the stochs crosses. In order to this you need to anticipate them or compromise on the fill.