Discussion in 'Journals' started by Buy1Sell2, Dec 23, 2016.
I suspect that this 2750 area is where a new floor will be constructed.
Time frame is a big determinant on how much leverage I use. I use 10 times leverage on intraday trades.
I bet we trade below 2750 at least. Held a short from earlier that I took out on this retrace back up to 2761. Too nervous to risk a bottom forming here with money on the line. But if my pockets were deeper than they currently are, I'd hold my shorts to the close today.
I don't have any clear targets below. Seems like round numbers are likely, i.e., 2740, 30, 20, 10 and finally 2700.
2% down at 2736,50.
3% down at 2708,50.
Currently down only 1,3% or so, so no big deal yet. This could be it. I have no conviction either way, but the path of least resistance remains down for now. If I were to bet, I'd say we're just retracing now before another round of selling.
So journal integrity purposes, did you override your stop loss?
first wave down..
How about now? 200 points off the highs. You had a 150 pts stop loss (that is some skill to "trade" with such stop loss) and you over rode it when proved wrong.
The sum of your last 2 trades currently is 169-116= -53 points, and that is for holding for 4 months....
Oh wait, while I wrote this short post the market dropped another 7 points (at 2733) so make it -60 pts.
Record keeping for journal integrity purposes...
Edit: I promise not to keep editing but below 2720 now...
thanks for nothing B1
Another amazing day in the markets. I feel like an amateur only taking home 10 points of profit (per contract) on a day like this. I find myself playing a bit too defensive and afraid of holding on to my convictions.
I'm sure tomorrow will be just as volatile. At a glance, I have a 3/5 chance prediction of a solid down day tomorrow as well with what I currently know. Assuming we don't open heavily gap up.
“If you know the enemy and know yourself, you need not fear the result of a hundred battles.
If you know yourself but not the enemy, for every victory gained you will also suffer a defeat.
If you know neither the enemy nor yourself, you will succumb in every battle.”
― Sun Tzu, The Art of War
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