Another Journal

Discussion in 'Journals' started by garage sale, Dec 10, 2008.

  1. Long 34.75, Stop 31.75
     
    #31     Dec 18, 2008
  2. Stopped Out -$60
     
    #32     Dec 18, 2008
  3. Possible short set-up forming. If the next trade is a loss then I'm done for the day.
     
    #33     Dec 18, 2008
  4. Sold 29.25, Stop 32.

    IB chart is down so will keep the stop here, without trailing.
     
    #34     Dec 18, 2008
  5. Stopped at 32.25. total loss for the day $120. Need to look at alternatives for charts.
     
    #35     Dec 18, 2008
  6. I got stopped out of the last trade at the very high tick. The chart is up and there is a nice short set-up.

    Sell 21, stop 24.5.
     
    #36     Dec 18, 2008
  7. Exited at 14.50 and after few minutes entered short at 13.25 and stopped out at 16.25. I was down $120, up $10 and now end the day down $50 excluding $20 commissions.

    The last trade was a mistake because ADX was >75 and I've seen reversals more than once at this level. I guess live and learn.
     
    #37     Dec 18, 2008
  8. [​IMG]
     
    #38     Dec 18, 2008
  9. I am going to add one more filter to it, Keltner Channel 65 with 1 std.

    This should act as a confirmation of the trend. Basically I want the entire bar to be above or below the channel for a trend confirmation. Had I done that today, this would have kept me out of the first losing trade.
     
    #39     Dec 18, 2008
  10. I finally got the Ninja trader charts. The way it calculates ADX is different than the way IB does....not sure why. I entered a short trade at 16.25 and got stopped out at 18.25. In the Ninja charts ADX > 40 but in IB charts it was around 28.
     
    #40     Dec 19, 2008