Sold 81.75 - longer term chart based trade. I would not advice going against the trend here. Very risk indeed. I am trading badly should be making money with the trend here.
That was a hell of blast up, hardly any retrace at from 74 to 91. Damn - me thinks this can come down just as fast. However, i was trapped into the short all based on my 15min channel i saw develop. They trapped me good there and took 3 hits in a row. On sidelines not till i see something develop.
I think my psyche is going kill me today. I am biased with short side now and taking another crazy short entry at 86. Might have to take a break for awhile if i get stopped on this one. Im really starting to dislike Bubble Ben
Firstly i think i am bias because all my entries have been short so i guess my brain is trying to prove to be right. I see resistance on longer term chart and nice spike on 15min bar closing below the R. Also, on new type of action like that when price shoots up so fast - it often retraces very hard when reality sets in. Market profile shows me 90-91 was hit with very little volume and value still far lower for the day. Still, this is a bad trade as it was my short bias that got me into this position. This is not based on a play either so it is a very in-disciplined trade - impulse trades are a sure fire way of knowing that you are trading badly. I think my hot streak recently has given me a false sense of security and i might get hit hard today. I could see my trading was getting a lot worse yesterday with more of a undisciplined approach - market was good and i got lucky.
Out at 87 for -1. Taking a step back for now to get my mind to focus. That was some of my worst trading in awhile. Down 5.75 points for the day already!!!
Clown, by your own admission, the system you use will take a lot of small losses. Seems like your keeping them small which is the key. Stick with it and you will catch a move like always. Good trading to you.
I think your right Wrongside. But my trading has been especially bad today as 2 out of my 4 trades were impulse trades. Not even based on an actual plays - completely against the intraday trend. I will try to keep my composure and trade more patiently now and try to nail that big move - hopefully the market will be good and not just trade in a range. Otherwise I'm setting max draw down of -$500 for the day. Don't want to give back all of yesterdays gains. Good trading to you to Wrongside.