1. Long 1143.50 @ 09:51 EST Exit 1142.50 @ 10:11 EST Stop: 1142.00 Target: 1145.50 P/L: - 1.00 2. Long 1144.25 @ 10:21 EST Exit 1145.25 @ 10:33 EST Stop: 1143.00 Target: 1145.50 P/L: + 1.00 3. Short 1143.00 @ 11:43 EST Cover 1141.25 @ 12:10 EST Stop: 1144.25 Target: 1141.25 P/L: + 1.75
Are you trading live now? I mentioned this before, but Yes. I am surprised to see that you don't use an indicator for divergence anymore. Please tell me why, ELABORATE! Subtracting my stochastic indicator from my charts has helped my trading immensely. I know longer depend on it to turn up or down before entering. Consequently, I'm able to enter as price confirms the direction. It's much faster because I don't have to wait until it diverges.... Pure S/R now ? Basically yes, I have a breakout strategy also but I prefer to enter short when there's weakness at Resistance and Long when there's strength at support. In short, my setup involves more than just entering at s/r! What do you use for S/R ? Just pivots or high/low or trendlines ? I prioritize my support and resistance numbers in the following order....... 1. premarket High & Low 2. Prior Day High & Low (yesterday or any previous day as necessary) 3. Floor Pivots. I do use trendlines but not for support & resistance. Are you still using the 30m chart for bigger picture ? No! I watch 3 charts timeframes. 1. Daily - to gauge overall market trend 2. 10 Min - to gauge intraday big picture 3. 3 Min - trading signals Looks like your trades are doing well so far. My trades are below average. I have a lot of things to work out in order to get where I want to be. It'll be a continuous learning process. I will elaborate a bit more in another post. Also looks like you have taken some breakout/down trades. Yes, I have a breakout strategy but it needs some work too.
Bad start and poor finish! Placed too many high-risk trades outside of the daily plan without a real signal. For some reason I wanted to be right today. 1. Short 1140.50 @ 09:43 EST Stop 1141.75 @ 09:48 EST Stop: 1141.75 Target: 0000.00 P/L: - 1.25 2. Short 1140.75 @ 09:55 EST Stop 1142.00 @ 10:13 EST Stop: 1142.00 Target: 0000.00 P/L: - 1.25 3. Short 1141.50 @ 10:26 EST Cover 1141.25 @ 10:39 EST Stop: 1142.75 Target: 1139.50 P/L: + 0.25 4. Long 1132.00 @ 15:08 EST Exit 1133.25 @ 15:23 EST Stop: 1130.75 Target: 1133.25 P/L: + 1.25
Wasn't able to extract profits from the market but I know what I need to work on. 1. Was late witht the entry and should have been short near my Pivot. I realize I need to tweak my entries a bit. Short 1134.25 @ 10:47 EST Cover 1135.00 @ 10:57 EST Stop: 1135.50 Target: 0000.00 P/L: - 0.75 2. Price retested pivot again but I didn't get short near 1136, my stop should have been tighter and I should have covered my short when price failed to continue lower. Also, I need to adjust my entries a bit. Short 1134.75 @ 11:13 EST Stop 1136.75 @ 11:43 EST Stop: 1136.75 Target: 0000.00 P/L: - 2.00 3. Target too large considering current market conditions. Enrty could have been better around 1137.25, I'm trying not to wait until I see price trade lower. Short 1136.50 @ 14:23 EST Stop 1136.25 @ 14:46 EST Stop: 1138.00 Target: 1134.00 P/L: + 0.25
I was hoping to start this day off on the right foot but couldn't get the follow-through I wanted. 1. Decided to short as we traded through the opening low of 1137 (NQ was in clear downtrend). We bounced on low volume at S1 but I reset my stop too early out of nervousness (for what reason I don't know). Short 1136.00 @ 10:16 EST Stop 1136.00 @ 10:43 EST Stop: 1137.25 Target: 1133.50 P/L: + 0 2. Awful trade and the worst of the month so far. I sold into S3 after hesitating as price traded below the LOD of 1125. I should have passed considering we've been ranging between 1122 -1146 for over two weeks now. This was just a completely disastrous, low probability trade and I wasted money for no reason. Short 1123.00 @ 13:52 EST Cover 1124.00 @ 13:57 EST Stop: 1124.25 Target: none P/L: - 1.00 3. Took long signal and wanted to finally squeeze some profits. This trade lined up nicely and I entered on time, set stop and profit target but there were hundreds of contracts in front of me at 28.25. Sure enough I reset my stop prematurely and ended with zero. Long 1126.25 @ 14:47 EST Stop 1126.25 @ 15:01 EST Stop: 1125.00 Target: 1128.25 P/L: + 0 There are tons of things I need to work on and today was definitely and eye opener.
Awash: I hope it is alright to make a suggestion. If not please have the moderator delete the post. I noticed that I started to improve when I shifted from 5 min bars to 15 min bars. Also I noticed that my approach improved when I started to look at the way that volume affects price. I don't want to go into too much detail, but perhaps some of my previous posts could be of help to you. Good luck in the markets. Steve46
Again, I just wanted to get off on the right foot. 1. Price retested LOD and bounced, good entry & target. I like quick trades like this! Long 1124.50 @ 10:07 EST Exit 1126.25 @ 10:10 EST Stop: 1123.25 Target: 1126.25 P/L: + 1.75 2. Price failed to close above my 1128.75 resistance area (pre-market calculation), entry was descent but I was a bit impatient with the exit. My initial risk was small (3 ticks) compared to my target however, I reset my stop and it got hit. Talk about impatience! Short 1128.00 @ 10:45 EST Stop 1128.00 @ 11:11 EST Stop: 1128.75 Target: 1126.00 P/L: + 0 I'm done for today!
Was a bit impatient later in the session. 1. Short 1118.00 @ 09:50 EST Stop 1119.50 @ 09:54 EST Stop: 1119.50 Target: 1115.50 P/L: - 1.50 2. Short 1117.25 @ 11:07 EST Cover 1115.25 @ 11:10 EST Stop: 1118.50 Target: 1115.25 P/L: + 2.00 3. Short 1113.25 @ 14:29 EST Cover 1114.00 @ 14:33 EST Stop: 1114.25 Target: unknown P/L: - 0.75 4. Long 1114.25 @ 14:33 EST Exit 1114.25 @ 14:46 EST Stop: 1113.00 Target: 0000.00 P/L: + 0 5. Long 1117.00 @ 15:08 EST Exit 1117.25 @ 15:29 EST Stop: 1115.75 Target: 1119.50 P/L: + 0.25