Not happy with this trade at all, didn't go as planned: didn't enter the trade when the model dictated, didn't move my target order fast enough >> price just moved too fast after I was filled. WHAT TO IMPROVE ON FOR NEXT WEEK: Make sure your computer is running more efficient? Be prepared for every trade: as soon as divergence confirms, you should be at the computer: calculate the target as early as possible, and be prepared to move limit orders faster> expect price to move rapidly as soon as you are filled. @Handle123@Redneck@NoDoji@Buy1Sell2@aquarian1@Gueco@pak@slugar@zbestoch@dratsum
Weekly Summary Profitable Trades 1 Losing Trades 1 Win Ratio for week 1/1= 50% Cumulative Win Ratio 4/7= 57% Total Points for the Week 0.00
TRADE ONE: LONG/LOSS/ BLD/60/11H30 11h44 I set my limit order to 60.00, TARGET= 62.75, INITIAL STOP = 59 The thick pink line in the picture is the resistance. EXECUTION Was filled at 60 at 11h45 → IN TRADE PERFORMANCE Price went up and met resistance at 61→ then around 11h51 → price started to drop EXIT → was stopped out at 59.25 (even though my stop was at 59?) WHAT I LEARNT I wonder how this would of played out in a real live "money" trade? Then I realized divergence HBRD/30/12h00 was setting up and started preparing to take that setup @Handle123 @Redneck @NoDoji @Buy1Sell2 @aquarian1 @Gueco @pak @slugar @zbestoch @dratsum
Brutal day, 3 consecutive losses........one a critical judgement error of divergence on my part.....will post last two trades later
TRADE TWO: SHORT/LOSS/ HBRD/30/12H00 For some reason, I thought I recognized Hidden divergence on the 30min at 12h00>> but I was gravely mistaken, I have been working with stoch divergence for the past 2 years, there was no excuse for this mistake. 12h03 I set my limit order to 55.75, TARGET= 53.75, INITIAL STOP = 57 EXECUTION I noticed price wasn't going to go through 55.75→ so I dropped my price to 55.5 in order to get filled → was filled at 55.5 at the 12h04 candle. IN TRADE PERFORMANCE Price droppd all the way down to 54 → this was one of those trades where you are one tick away from hitting the target, then price turns around and goes back up to stop you up. moved my stop down one tick to 56.75. EXIT Price found support at 54→ then increased until I got stopped at 56.75. WHAT I LEARNT I wonder how this would of played out in a real live "money" trade? Make sure you have proper divergence set up!! @Handle123 @Redneck @NoDoji @Buy1Sell2 @aquarian1 @Gueco @pak @slugar @zbestoch @dratsum
TRADE THREE: SHORT/LOSS/ HBRD/60/12H00 12h31 I set my limit order to 55.5 (yes same as Trade Two), TARGET= 52.5, INITIAL STOP = 56.5 EXECUTION Filled at 12h32 at 55.5 IN TRADE PERFORMANCE Price dropped all the way down to 54.5 at 12h35 → this was when I dropped my stop to 55.75 EXIT Price reversed at 12h36> then there was that huge green candle→ and I got stopped at 55.75 WHAT I LEARNT I wonder how this would of played out in a real live "money" trade? @Handle123 @Redneck @NoDoji @Buy1Sell2 @aquarian1 @Gueco @pak @slugar @zbestoch @dratsum
RULES BROKEN FOR TODAY Trade 2> Lowered my entry limit order to 55.5 from 55.75: should of just left the entry limit order at 55.75...and wait for price to retrace back up to fill me. Trade 2> Thought there was Hidden bear divergence at 12h00 on the 30: I have to be "cock" sure that there indeed exists a divergence. This was a rookie error, and I should be performing at a higher level.
TRADE ONE: SHORT/LOSS/ BRD/60/13H30 Yes I know it may of been foolhardy of me to take the trade in front of the FOMC announcement> but hey I trade this model regardless. In this particular case, I considered Bearish divergence on the 60, despite the fact there was no crossover on a close 13h31 I set my limit order to 72.25 , TARGET= 70.75, INITIAL STOP = 73 EXECUTION Filled at 13h33 at 72.25 IN TRADE PERFORMANCE Price moved sideways found support at 71.75 then at 13h40 → price shot up and stopped me out EXIT I got stopped at 73→ then it was all green candles and seemed to be parabolic uptrend WHAT I LEARNT 1. Never place a trend within an hour before a FOMC announcement? I wonder how this would of played out in a real live "money" trade? @Handle123 @Redneck @NoDoji @Buy1Sell2 @aquarian1 @Gueco @pak @slugar @zbestoch @dratsum
This goes against my rules, but just for fun....I will consider a short if there is still Bear Div at the 14h30 candle on the 60
TRADE TWO: SHORT/LOSS/ BRD/30/14H30 14h35 I set my limit order to 59 , TARGET= 51.75, INITIAL STOP = 63.25 EXECUTION Filled at 14h35 at 59→ Smooth execution I'd say IN TRADE PERFORMANCE Again price quickly reversed EXIT I did not move my stop→ let myself get stopped out at 63.25 Looks like I got caught in the short covering. WHAT I LEARNT 1. Perhaps shouldnt be trading such a volatile time? I wonder how this would of played out in a real live "money" trade? @Handle123 @Redneck @NoDoji @Buy1Sell2 @aquarian1 @Gueco @pak @slugar @zbestoch @dratsum