Seriously give Heiken Ashi a serious hard look, on the DAX just testing still currently but it's stopping me getting in the way of a moving train frequently, can literally go it's ran up, there is a red candle short and hey presto profits or it'll go green again then I'm out for a small loss as it goes against me to the SL. Smoothens the action, highlights the momentum and reduces those knee jerk reactions we generally get wrong. I'd written it off as crap for years, regretting that snap judgement.
Thanks RN. Will do. Got the routine, making a plan for each trade, and coffee. Gotta have coffee. Head screwed on straight. A little douglas before the open.
Thanks TD. I agree. HA bars are great. If anything, I'd use them to keep me in some nice trend plays. I don't know about intraday range/BO PBs or reversals because you often have to enter when the bar is the wrong color! For now, my goal is a single set-up, executed with great consistency, and working some fears. I still have many versions of the HA bar indicator on my software. -J
I'm limiting my trading to pull back and reenter when HA changes colour with trend, it's not perfect but it's got more patience than I have so it does a better job which is all that counts really. Chart attached, that's all I'm aiming to trade, using Gold and Oil aswell to increase my amount of trade available to me.
I think this is a great idea. The HA bars do really help. What settings? Avg over past 6 bars or what?
Pull back with trend, is always the best bet if you can stay out of chop. Standard HA so only average of the last bar That yellow/green what ever is a 30sma then a 60sma in the blue, I use that to gauge trend. Doesn't look great on NQ though, it's slower so it rebounds off the 60sma more that's all maybe!
Issues/Thoughts I had to stop trading today around 1400. I noticed a huge issue with myself and needed to talk to my mentor. I came into today with a plan. Executed well--nevermind, not so much. The logistics of trading this signal will come later. Trades reviewed later. Onto the issue. For the life of me, I felt like I was literally FORCING almost every trade today. Forcing them. Pullbacks were evident, but I forced many in. I went for a drive talked to my mentor, and realized the issues behind this forcing. I know them. I know where these issues are from. That's for me. My mentor reminded me that market doesn't give one shit if you're poor or rich. It could care less whether or not you have a good job, bad job, or no job. It also couldn't give two shits about how you want money from the market. The market doesn't give a shit about your current position in life. And it's not because the market hates you, it simply and quite very honestly, does not care. Neutral. Always. To be friends, maybe you should trade this way. Many reason's, that the market couldn't give a shit about, influenced trading today. The entire reason why I'm learning trading, is influencing my trading. Again, the mkt doesn't care why I'm learning. The market doesn't care. Least of which, about me. This has to be remembered. This has to be considered daily in one's thinking. The moment I think the market cares about any of my intentions, is the moment the market becomes relentless. It is completely neutral concerning all reasons a trader has. Couple other notes on today which all relate to the above 1.Took 14 trades. Do day traders take that many? Seems high. If not, fine. 2. I found myself getting upset with moves going without me. I acknowledged this in real time though which is a good step. Again, mkt doesn't care about me being in a move or not. Neither should I. Next. 3. Closed a trade today because of DL break, played signal well, little risk, and the price went to my intended target. Hate when this happens. I felt it. Does the mkt care? No. Did I care? Yes. Do I care now? No. Next. 4. Along the lines of "forcing", this also led to not taking the "best" signals of today. At least 3 to 4 great signals before 1130 range. 5. For now, I'll probably scratch intra-bar pullbacks on 5 even though on the 1 or 3 minute, it's evident. Today's trade plans later tonight...
Today was a difficult day in NQ, IMO. Pretty range bound. Possibly felt like forcing because in chop it can be confusing and there may be mixed signals. The forcing feeling comes from the uncertainty along with the gut feeling (subconscious ?) that it may not be a proper environment to be trading in. If you're taking PB entries need to be sure you are in a trend and not anticipating one. Stay focused on your plan and be patient with yourself in the learning process.
It's just fear and doubt, you fear the pull back won't reverse so you hesitate waiting for it to be perfect, then you wait, then it starts to move your way then it's too late it's already over. Like I said, keep forcing yourself until your confidence gets there and you can take it, it'll get there. I'm back in the watching and regretting phase myself but been here before, will be here again, will be fine!! How can something so simple, it can only go 2 ways after all, be so mentally challenging!
Too me NQ had a early trend upmove, then a bull back and fail pull back further nasty trap there, then chop I'd of stayed out. YM, was much more tradeable, 60 pip range compared to barely 10. Oil got most of the action today, WOWSA that's a big drop.